Indian equity markets are likely to open higher on week’s last trading day. Ahead of Friday’s session, SGX Nifty was up with gains, suggesting a positive opening for benchmark indices BSE Sensex, NSE Nifty 50. Global cues were mixed after Dow Jones and S&P 500 closed with losses while the tech-heavy NASDAQ gained in the US. Asian stock markets were moving higher in morning trade. “Markets will be closely eyeing the outcome of MPC’s monetary policy meet on Friday. Before that, the performance of the global indices amid the fresh developments on China-Taiwan tension would dictate the trend in early trades,” 

Stocks in focus on 5 August, Friday

Adani Ports: Adani Ports and Special Economic Zone Ltd (APSEZ) and AD Ports Group on Thursday signed an agreement for strategic joint investments in logistics infrastructure in Tanzania. APSEZ in a statement said strategic partnership in end-to-end logistics infrastructure and solutions will accelerate trade for the East African Nation.

Adani Enterprises: Adani Group to acquire Macquarie Asia Infrastructure Fund’s India toll roads in Andhra Pradesh and Gujarat for Rs 3,110 crore. Subsidiary Adani Road Transport Ltd (ARTL) has entered into a definitive agreement to acquire Gujarat Road and Infrastructure Company Ltd (GRICL) and Swarna Tollway Pvt Ltd (STPL) for Rs 3,110 crore. ARTL will acquire 56.8% of GRICL and 100% of STPL from Macquarie Asia Infrastructure Fund subject to regulatory approval. The transaction is expected to close in September 2022.

Britannia: In the April-June quarter, Britannia saw its revenue increase 9% to Rs 3,351.9 crore, compared with last year. Its net profit stood at Rs 389.6 crore — down 13.4%. The company will continue to take price increases in the ongoing quarter (July-September) of 2022-23 (FY23) as price increases taken in the previous quarters weren’t enough to cover inflation.

Glenmark Life Sciences: The pharma company reported 7.7% on-year growth in profit at Rs 108.73 crore for the quarter ended June 2022, supported by margin performance. The firm registered revenue from operations at Rs 489.87 crore for the quarter, a 6.7?cline YoY due to high base of COVID products sales last year. EBITDA fell by 5% to Rs 156.26 crore during the same period, but margin increased by 60 basis points to 31.9%.

Reliance: The conglomerate’s arm Reliance Brands has signed a long-term franchise agreement with global luxury brand Balenciaga, it announced on Thursday. With this agreement, Reliance Brands will be Balenciaga’s sole India partner to launch the brand in the country.

SpiceJet: After slashing the airline’s approved departure by 50 per cent last week, the DCGA will allow SpiceJet to reinstate flights in a “graded manner” once the airline shows it has sufficient engineering strength and the financial ability to stock up on spares, reported Reuters.

GAIL India: The nation’s largest gas utility, on Thursday reported a 51% jump in its June quarter net profit on the back of bumper margins from gas marketing. GAIL posted a consolidated net profit of Rs 3,250.95 crore, or Rs 7.34 per share, in April-June compared to Rs 2,157.15 crore, or Rs 4.81 a share, net profit in the same period.

LIC Housing Finance: LIC Housing Finance Q1 profit jumps 503% on-year to Rs 925.5 crore as impairment on financial instruments declines sharply. The housing finance company reported 503% year-on-year growth in profit at Rs 925.5 crore for the quarter ended June as impairment on financial instruments declined sharply. Revenue from operations increased 9% to Rs 5,285.5 crore for the quarter.

Q1 Results today: Mahindra & Mahindra, Titan Company, Engineers India, NMDC, FSN E-Commerce Ventures (Nykaa), IRB Infrastructure Developers, One 97 Communications, Petronet LNG, Aditya Birla Fashion and Retail, Alkem Laboratories, Pfizer, Raymond, Computer Age Management Services, Eris Lifesciences, Fortis Healthcare, Greenply Industries, Minda Corporation, Indigo Paints, Motherson Sumi Wiring India, R Systems International, Shipping Corporation of India, Talbros Engineering, UCO Bank, and Zensar Technologies will report their Q1FY23 earnings on 5 August.