Markets Week Ahead: Reliance, Bank Earnings, Infosys, PMI Data In Focus

Mumbai, July 18: Indian equity markets are set for another eventful week as investors digest a flood of corporate earnings alongside key domestic and global macroeconomic indicators that could shape market sentiment. The spotlight will initially be on Reliance Industries, whose better-than-expected June-quarter earnings are likely to set the tone on Monday, while the Street will also react to the quarterly performances of banking heavyweights HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and Yes Bank, announced over the weekend. Their management commentary on loan growth, deposit mobilisation, asset quality and net interest margins will be closely scrutinised for clues on the health of India’s financial sector.

The earnings season gathers further momentum through the week, with results due from UltraTech Cement, Bajaj Auto, TVS Motor, Indian Hotels, Nestlé India, Adani Power, Adani Green Energy, Dr Reddy’s Laboratories, Infosys, Cipla, SBI Life Insurance, Bank of Baroda, Jindal Steel & Power and several other companies across sectors.

On the macroeconomic front, investors will track US initial jobless claims, Japan’s consumer inflation (CPI), flash S&P Global Manufacturing and Services PMI data from India and the US, and US new home sales for fresh signals on economic activity and the outlook for global interest rates. Together, the earnings deluge and economic data releases are expected to keep volatility elevated and drive sector-specific moves on Dalal Street throughout the week.

Monday, July 20

Reliance Industries: Investors will react to the conglomerate’s stronger-than-expected June-quarter earnings, driven by robust retail and telecom growth and resilient oil-to-chemicals performance.

ICICI Bank: Asset quality, loan growth, net interest margins (NIMs) and management commentary will be closely tracked after its quarterly results.

HDFC Bank: Investors will watch deposit mobilisation, NIM trends and guidance on credit growth following the lender’s earnings.

Axis Bank: Focus will be on margin performance, provisioning and loan growth after its June-quarter results.

Kotak Mahindra Bank: Commentary on deposit growth, margins and the outlook for lending will be in focus.

Yes Bank: Asset quality trends and profitability will remain key monitorables after the private lender’s results.

UltraTech Cement: Investors will assess demand trends, pricing, input costs and management’s outlook for the cement sector.

Indian Overseas Bank (IOB): Loan growth, asset quality and margin trends will be watched after its quarterly earnings.

Japan Markets: Japanese financial markets will remain closed, potentially resulting in lower regional trading volumes.

Tuesday, July 21

Bajaj Auto: Commentary on domestic demand, exports and margin outlook will be in focus.

Adani Energy Solutions: Investors will watch project execution, transmission pipeline and capital expenditure plans.

TVS Motor: Sales momentum, export recovery and electric vehicle strategy will be key highlights.

Indian Hotels: Occupancy, average room rates and demand outlook for the hospitality sector will be closely monitored.

Wednesday, July 22

Adani Power: Investors will assess volume growth, merchant tariffs and fuel cost trends.

Eternal: The Street will look for updates on growth, profitability and business expansion.

Adani Green Energy: Operational capacity additions and renewable energy pipeline will be key focus areas.

Nestlé India: Volume growth, rural demand and commodity cost trends will be closely watched.

BPCL: Refining margins, marketing performance and fuel demand will remain in focus.

HPCL: Investors will monitor refining profitability and marketing margins.

Dr Reddy’s Laboratories: US business performance, product launches and margin outlook will drive sentiment.

Oracle Financial Services Software (OFSS): Deal wins, order pipeline and revenue growth will be closely tracked.

United Spirits: Premiumisation trends, volume growth and margin expansion will be key monitorables.

IndusInd Bank: Asset quality, deposit growth and NIM trajectory will be under the spotlight.

Thursday, July 23

US Initial Jobless Claims: The data could influence expectations around the US Federal Reserve’s interest-rate trajectory.

Infosys: Investors will focus on deal wins, revenue guidance, AI spending and demand commentary from clients.

Cipla: Updates on US sales, domestic business and regulatory developments will be closely watched.

Mphasis: Deal pipeline, client spending trends and margin performance will remain in focus.

Sona BLW Precision Forgings: Electric vehicle order book and export demand will be key themes.

Friday, July 24

Japan CPI: Inflation data could shape expectations for the Bank of Japan’s monetary policy.

India S&P Global Manufacturing & Services PMI: The data will offer a fresh reading on business activity and economic momentum.

US S&P Global Manufacturing & Services PMI: Investors will gauge the health of the world’s largest economy.

US New Home Sales: The housing market data will provide further clues on the US economic outlook.

SBI Life Insurance: Premium growth, margins and persistency ratios will be key monitorables.

Bank of Baroda: Asset quality, loan growth and NIM trends will be in focus.

Jindal Steel & Power: Steel demand, realisations and management outlook will be closely tracked.

Laurus Labs: API demand, formulations business and margin recovery will be watched.

Shriram Finance: Disbursement growth, asset quality and funding costs will be key focus areas.

CG Power and Industrial Solutions: Order inflows, execution and margin performance will be monitored.

Saturday, July 25

AU Small Finance Bank: Investors will watch deposit growth, loan book expansion and asset quality trends.

IDFC First Bank: Focus will remain on retail loan growth, deposit mobilisation, margins and credit costs.

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Source: Exchanges, public info