July 17 is set to be a day filled with important events, impacting various sectors including finance, tourism, technology, and weather. Here’s a breakdown of the key developments expected to shape the day’s discourse:
Financial Announcements and Market Movements
Several prominent companies are slated to announce their Q1 results on July 17, providing insights into their financial performance. Key players like Asian Paints Ltd, LTIMindtree Ltd, Hathway Cable & Datacom Ltd, and Elecon Engineering Company Ltd are among the companies scheduled to release their earnings. Investors will also be closely watching the performance of Century Textiles & Industries Ltd, Ingersoll-Rand (India) Ltd, Lakshmi Electrical Control Systems Ltd, Lloyds Steels Industries Ltd, Modison Ltd, Rane Brake Lining Ltd, and Walchand Peoplefirst Ltd as they trade ex-dividend today. This means the share price will be adjusted to reflect the upcoming dividend payout.
Significant trading activity is expected in Jindal Saw, Sotac Pharmaceuticals, and Satin Creditcare Network on July 17. Notably, Cresta Fund, a US-based foreign portfolio investor, has offloaded 25 lakh equity shares in Jindal Saw, representing a 0.78 percent equity stake, at an average price of ₹ 330.01 per share. This transaction was valued at ₹ 82.5 crore.
Tourism and Trade Initiatives
China is taking steps to attract foreign tourists post-pandemic by removing entry permits for visitors from over a dozen countries. These tourists can now enter China and stay for up to 15 days without a visa. India and Korea are also scheduled to hold the next round of negotiations to upgrade their Comprehensive Economic Partnership Agreement (CEPA) from July 17-19. The talks in Seoul aim to enhance economic cooperation and address trade deficits. In the last fiscal year, India’s exports to Korea were USD 6.41 billion and imports were USD 21.13 billion.
Technology Launch and Weather Alerts
Samsung is set to launch its mid-range Galaxy M35 smartphone in India on July 17, coinciding with the Amazon Prime Day Sale. The M35 5G will feature a super AMOLED display with a 120Hz refresh rate, Gorilla Glass Victus+ protection, and the Exynos 1380 chipset. It will also support Samsung Wallet, Knox security, and Knox Vault. Meanwhile, the India Meteorological Department (IMD) has issued an orange alert for heavy to very heavy rains over several parts of the country, including Tamil Nadu, Madhya Maharashtra, West Madhya Pradesh, East Rajasthan, Uttarakhand, Konkan, Goa, Saurashtra, Kutch, and South Interior Karnataka.
Market Closures and School Holidays
All schools in Puducherry will remain closed on July 17 for Muharram, according to the Directorate of School Education. Additionally, banks in several states will also be closed for the holiday. The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will also remain shut today, July 17, due to Muharram 2024.
