The Indian share market opened on a quiet and steady note this morning, with no major movements seen so far. Investors are closely tracking stock-specific developments, including legal issues, earnings reports, and new business deals. Stocks in focus today include Vedanta, DLF, Indian Hotels, Axis Bank, and ONGC.
Share Market on July 18
Vedanta
Vedanta is facing questions after a U.S. short-seller, Viceroy, said the company broke its agreement with the government by charging brand fees from Hindustan Zinc. A whistleblower claims that this could lead to significant legal and financial consequences.
DLF
DLF expands further into Mumbai’s high-end housing market, following the completion of its first premium project in the city. The company now plans to build luxury and super-luxury homes.
Indian Hotels Company
Indian Hotels Company posted a profit of Rs 296 crore for the April–June quarter. That’s a 19% increase from last year, helped by strong travel demand and better room rates.
Axis Bank
In the April–June quarter, Axis Bank earned Rs 5,806 crore in profit, slightly less than what it made during the same time last year. The drop was due to higher costs and lower other income.
ONGC
ONGC has signed a deal with BP to explore offshore areas like Andaman and Saurashtra for oil and gas. The two companies will drill together to boost India’s energy sources.
