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Shares of L&T have broadly remained range bound in 2024. It made a high of ₹3,963 in December and has fallen 11.2% since then.

Indian markets extended gains for the fourth session, driven by Larsen & Toubro’s strong Q3 results and optimism around the Economic Survey. Analysts anticipate a pro-growth budget, potential tax cuts, and continued infrastructure spending to sustain the rally.

Oil and Natural Gas Corp (ONGC) has reported a 17% decline in third-quarter profit on a drop in oil prices and higher depreciation.

The Reserve Bank of India (RBI) conducted a dollar-rupee buy/sell swap for $5 billion on Friday, with the transaction to be reversed on August 4. The RBI received bids worth five times the notified amount at $25.6 billion.

Karnataka Bank’s Q3 net profit declined 14.3% YoY to ₹284 crore due to lower earnings. Operating profit fell 20%, while net interest margin dropped to 3.02%. Asset quality improved as NPAs reduced, and advances grew 11.6% YoY.

Indian markets rallied for the fourth consecutive session, driven by strong buying in auto, FMCG, and banking stocks. Nifty’s falling wedge breakout signals bullish momentum, with key support at 23,300 and resistance at 23,800 ahead of the budget.

Sebi UPI: Market regulator Securities and Exchange Board of India (Sebi) is considering creating a unique Unified Payments Interface (UPI) address to ensure the investor money reaches only to the SEBI registered intermediaries.

Buying was notable in realty, power, consumer durables, and capital goods stocks.

OPEC+ is unlikely to alter existing plans to raise output gradually when it meets on Monday, delegates from the producer group told Reuters, despite U.S. President Donald Trump urging OPEC and its de facto leader Saudi Arabia to bring down prices.