News and Global Index updates.

🌹 🌞Good Morning 🌞🌹

*SGX Nifty -3 pts (16492) from last trade 16495 ,*  

Nikkei -108 pts , 

Hangseng -79 pts , 

Now @6.56am . 

Dow +47.79 pts ,

Nsdq +184.50 pts, 

S&P +23.21 pts, 

Bovespa +42 pts , 

Ftse -31 pts , 

Dax -26 pts , 

Cac -16 pts , 

Crude @ $99.44 brl (-0.44), 

Brent @ $106.50 brl (-0.32) , 

Gold @ 1687.90 (-12.39), 

Silver @ $18.470 (-0.19), 

Euro @ $1.0183, 

JPY @ $138.43,  

INR @ 80.025

*Today's Corporate Action*

*21st July Ex Date*

ADCINDIA

Final Dividend - Rs. - 4.0000

ADCINDIA

Special Dividend - Rs. - 10.0000

ANGELONE

Interim Dividend - Rs. - 7.6500

BANSWRAS

Dividend - Rs. - 2.5000

BASF

Final Dividend - Rs. - 6.0000

BHAGIL

Dividend - Rs. - 4.0000

BLUESTARCO

Final Dividend - Rs. - 10.0000

BOMBCYC

Final Dividend - Rs. - 5.0000

CARBORUNIV

Final Dividend - Rs. - 2.0000

CHOLAFIN

Final Dividend - Rs. - 0.7000

DABUR

Final Dividend - Rs. - 2.7000

DATAMATICS

Final Dividend - Rs. - 1.2500

DHANUKA

Final Dividend - Rs. - 6.0000

GALAXYSURF

Final Dividend - Rs. - 18.0000

HERITGFOOD

Final Dividend - Rs. - 2.5000

HGINFRA

Final Dividend - Rs. - 1.0000

HIL

Final Dividend - Rs. - 25.0000

HIL

Special Dividend - Rs. - 20.0000

HNDFDS

Stock  Split From Rs.10/- to Rs.2/-

IMFA

Final Dividend - Rs. - 7.5000

INTELLECT

Final Dividend - Rs. - 2.5000

JAYAGROGN

Final Dividend - Rs. - 3.0000

JENBURPH

Final Dividend - Rs. - 12.0000

KAIRA

Final Dividend - Rs. - 12.0000

KIRLFER

Final Dividend - Rs. - 3.0000

LT

Final Dividend - Rs. - 22.0000

MAHLOG

Final Dividend - Rs. - 2.0000

MINDACORP

Final Dividend - Rs. - 0.7000O

NTIC

Stock  

Split From Rs.10/- to Rs.1/-

PDSL

Final Dividend - Rs. - 23.8500

POONAWALLA

Final Dividend - Rs. - 0.4000

PRADPME

Final Dividend - Rs. - 1.5000

PREMCO

Final Dividend - Rs. - 3.0000

RAJNISH

Bonus issue 2:1 

RAJNISH

Stock  Split From Rs.10/- to Rs.2/-SEIL

Stock  Split From Rs.10/- to Rs.1/-SUMICHEM

Final Dividend - Rs. - 1.0000

SWISSMLTRY

Right Issue of Equity Shares 

TAPARIA

Final Dividend - Rs. - 52.5000

TCMLMTD

E.G.M.   

TECHM

Final Dividend - Rs. - 15.0000

TECHM

Special Dividend - Rs. - 15.0000

THERMAX

Dividend - Rs. - 9.0000

TTKPRESTIG

Final Dividend - Rs. - 3.5000

*Today's Key Results/Board Meetings*

*21-Jul-22*

ARISINT

General;Preferential Issue of shares

CANFINHOME

General;Quarterly Results 

CRISIL

Interim Dividend;Quarterly Results

CSBBANK

Quarterly Results  

CYIENTQuarterly Results  

DRCSYSTEMS

Quarterly Results;General 

ELECON

Quarterly Results 

EMBASSY

Quarterly Results  

FRANKLININD

General;Quarterly Results 

GSFC

Quarterly Results  

GUJCOTEX

Quarterly Results  

HAPPSTMNDS

General;Quarterly Results 

HINDZINC

Quarterly Results  

IDBI

Quarterly Results  

ISEC

Quarterly Results  

JSWENERGY

General;Quarterly Results 

KAJARIACER

Quarterly Results  

LAXMIPATI

A.G.M.;General  

MFL

Quarterly Results  

MPHASIS

Quarterly Results  

ORIENTBELL

Quarterly Results 

OSIAJEE

Right Issue of Equity Shares;Interim Dividend;Quarterly Results

PCBL

Quarterly Results 

PERSISTENT

Audited Results;General 

PIONDIST

Quarterly Results  

POWERINDIA

Quarterly Results  

PRISMX

Quarterly Results;Rights Issue 

PVR

Quarterly Results  

RAJGLOWIR

Quarterly Results  

RANJEET

General   

RAP

General   

RKFORGEI

nterim Dividend;Quarterly Results

RMLQuarterly Results  

SAMKRG

Quarterly Results  

SHREEPA

CIssue Of Warrants;General;Preferential Issue of shares

SRF

Interim Dividend;Quarterly Results

TOKYOPLAST

Quarterly Results  

TRADWIN

Quarterly Results  

VIVANZA

Quarterly Results  

ZSWASTSA

Quarter

*Stock under F&O ban on NSE*

*21-Jul-22*

1DELTACORP

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News and Impact

 

·       Expects market to open on a positive note on account of smart recovery US market from the intra-day low and strong domestic cues. Yesterday, Nifty ended above its 16500 psychological barrier and expects northbound journey to continue. Good quarterly results announced, FIIs buying interest (Yesterday net buyers 1800cr), stable oil price and hope of good monsoon added will be positive for the market sentiment. SGX Nifty is flat to positive while US Dow Future slipped quarter percent. India Vix slipped 3% to close 3-month low at below 17, indicating a stable local market. Global market front, US Dow Jones recovered nearly 1% from the intra-day low and Nasdaq climbed up over 1% due to better than expected quarterly results announced by Tesla and Netflix amid optimism over the strong earnings and growing speculation markets may have bottomed out. Bank of Japan and European Central Bank policy meeting will be held today.

·       .

·       US stocks closed higher on Wednesday, driven by the consumer discretionary and technology sectors, while data showed a steeper-than-anticipated drop in existing home sales for June. Dow bounced back into positive territory and gained quarter percent. Nasdaq Composite climbed up by 1.6%. Google said it will pause hiring for two weeks. Still, gains in Netflix Inc. on better-than-feared earnings underpinned rallies in streaming peers Walt Disney Co. and Paramount Global, while Tesla Inc. rose ahead of its earnings set for release later Wednesday.

 

·       Asian stocks wavered at the open on Thursday as investors weighed signals from the latest corporate earnings and geopolitical risks in Europe. Equities dipped in Japan and fluctuated in South Korea and Australia. However, Taiwan Index gained marginally.

 

·       European stocks declined on fears that Russia may not restart gas supplies to the continent.UK, Germany and France Index declined quarter percent each. Russian President Vladimir Putin had earlier signaled that Europe will start getting gas again through the pipeline, but warned that unless a spat over sanctioned parts is resolved, flows will be tightly curbed. 

 

·       Brent crude declined 2% to $105/bb after a report showed a larger than expected rise in US inventories last week and recession worries continue.

 

·       Gold held fell to 27-month low to below $1700/ounce as investors weighed a prolonged decline in holdings in gold-backed exchange traded funds and the dollar’s recent bout of weakness.

 

·       Actionable -  Tech Mahindra, Dixon Tech, Infosys, Indusind Bank, Hindalco

 

·       Brokers Radar – Indusind Bank -  JP Morgan TGT at 1200, Macquarie TGT at 1135, HSBC TGT at 1240, CITI TGT at 1150,  Credit Swiss TGT at 1150, Morgan Stanley at 1300, Jefferies TGT at 1250, Wipro - CITI TGT at 385, Goldman TGT at 374, Morgan Stanley TGT at 355, Macquarie TGT at 640. Havell’e – Macquarie TGT at 1436, Credit Swiss TGT at 1500, AU Bank – Morgan Stanley TGT at 825, Reliance TGT by Jefferies TGT at 2900

 

·       Events –  Quick Heal results and share buy-back decisions, Weekly Nifty and Bank Nifty expiry, TTK Prestige Rs3.50, Blue Star Rs10, Jayant Agro Rs3, Thermax Rs9, Heritage Food Rs2.50, BASF Rs6, Tech Mahindra Rs15 and Special dividend Rs15, Indian Metal Rs7.50, HIL Rs45, Glaxy Surfactants Rs18, Mahindra Logistic Rs2, Bageria Industries Rs4. Hindustan Foods stock split.

 

·       Global Data – Existing Home Sales (US), CPI, House Price Index and Retail Price

 

·       Initial Jobless Claims (US), ECB meeting (Europe)

 

·       Results – Can Finance Home, CSB, Crisil, Cyient, GSFC, Happiest Mind, ICICI Securities, Kajaria Ceramics, Persistent Systems,  Mphasis, PVR, SRF.

 

·       US Results - AT&T and American Airlines

 

·       Market Summary – Tata Steel Signs MoU With BHP To Explore Low Carbon Iron, Defence Ministry says India to collaborate with foreign company to develop, produce combat jet, NHPC Ties Up with Damodar Valley for Hydropower, Wipro announced lower than expected Q1 Ebita and Ebita margin, Gland Pharma announced lower than expected Ebitda but margin in line. Indusind Bank Operating profit above expectation and stable Asset quality. Havell’s announced lower than expected Q1 results

 

·       InfoEdge has invested an amount of Rs15 crore in Smartweb Internet Services Ltd., wholly owned subsidiary of the Company. – positive

 

·       Maruti Suzuki launches gamechanger SUV, The Grand Vitara – positive

 

·       Sonata Software board meeting on 25th July for bonus share - positive

 

·       State Bank of India received the board's approval to raise up to Rs 11,000 crore through issuance of bonds. – positive

 

·       ADOR Welding Ltd receives LOA for Rs. 145 crore order from ONGC – positive

 

·       Som Distilleries approves preferential issue of warrants at Rs.72 a share (CMP 74)of 40 lakh share equity warrant to the promoters – Positive 

 

·       Insecticides has incorporated a wholly-owned subsidiary namely "IIL Biologicals Limited". IIL Biologicals shall carry on the business of manufacturing, sale, purchase, etc. of all kind of Organic and Biological farming fertilizers, bio-pesticides, bio-control agents or any other allied products. - Positive

 

·       SecureKloud Technologies has launched a cloud-based data analytics and AI engineering platform named DataEdge, that enables enterprises to power insight-driven decision-making capabilities. – positive

 

·       Visaka Industries announcement of commencement of commercial production by the company – Company has started its commercial production at its new panel unit (Panels Division - III) situated at Udumalpet Village, Tirpur Dist., Tamilnadu, with an installed capacity of 10,000 MT per annum effective from July 20, 2022. – positive

 

·       Krishna Diagnostics the tender for supply, installation, operation and further maintenance of CT Scan Center at Raj-MES Medical College located at Churu, a small city in Rajasthan on Public Private Partnership (PPP) basis. – positive

 

·       Palred Technologies announces that pTron, India's fastest growing and leading manufacturer of affordable digital lifestyle and audio accessories, has unveiled its newest additions to the Basspods series, the Basspods P251+ and Basspods P11.- positive

 

·       Manappuram Finance board gives nod for fund raising up to Rs770 crore via allotment of debt securities – Long term positive due to fall in gold price is a concern

 

·       NCLT Allows Bank of India's Insolvency Application Against Future Retail -  Amazon objected to the application saying banks had colluded with Future Retail. The company had argued against insolvency proceedings saying application is based on default notices which had been erroneously issued.- positive

 

·       Tata Steel, BHP intend to collaborate on ways to reduce emission intensity of blast furnace steel route. Two firms to focus on using biomass as source of energy in steel production. Tata Steel, BHP aim to utilise carbon capture and utilisation (CCU) in steel production. Blast furnace iron-making process accounts for over 60% of India's steel production.

 

·       Hindustan Aeronautics -  Defence Ministry says India to collaborate with foreign company to develop, produce combat jet - Minister of State for Defence, Ajay Bhatt said in the parliament that India intends to collaborate with a foreign engine company to develop and manufacture combat jet engines for the ambitious Advanced Medium Combat Aircraft (AMCA). – positive

 

·       Care rating approved share buy-back of nearly 8% equity shares or 23.7 lakh share via tender at Rs515 a share (CMP 467) – Positive

 

·       Ramco Systems strengthened its presence in food and beverages industry by announcing dead with leading Saudi Arabian Restaurant Chain Kudu Company. Ramco Systems will implement its global payroll and HR solution at Kudu Company. – positive

 

·       Manali Petrochemicals gained yesterday. The rise comes Chennai-based investor Dolly Khanna acquired 1.09% stake in the company.  – positive sentiment

 

·       Shares of Zuari Industries surged yesterday -Dolly Khanna had acquired 1.17% stake in the company - - positive sentiment

 

·       Cineline India – Board considered and approved sale and transfer of Eternity Mall situated at Nagpur  on 'as-is-where-is basis' at a value of Rs. 60 Crore – positive, expect

 

·       ITC Chairman & Managing Director Sanjiv Puri At The AGM - FMCG business estimated to have market potential of Rs 5 lakh cr by 2030, which is amongst the highest in the Indian FMCG space. Will scale up & leverage power brands such as Aashirvaad, Sunfeast to address value-added adjacencies and invest in categories of the future. Launched 110 products in FY22. – expects strong growth its hotel, FMCG and paper business

 

·       PNB Housing Finance and its board of directors paid nearly Rs 73 lakh to the SEBI to settle a case around preferential allotment of shares to the Carlyle Group and other investors. The payment was made under the settlement regulations, which allow an alleged wrongdoer to settle a matter without admitting or denying the guilt. – positive

 

·       NHPC entered into a memorandum of understanding with Damodar Valley to explore the establishment of a hydropower and pump storage joint venture - positive

 

·       Aditya Birla Capital Clarifies on news regarding investment by ADIA in Aditya Birla Health Insurance – Company says “continuously evaluates options for funding, including equity funding by institutional investors, in its businesses”

 

·       Thermax – Company to invest near Rs.10 cr in Covacsis Technologies Covacsis Technology to provide energy management solutions – positive

 

·       Wipro announced lower than expected Q1 Ebita and Ebita margin. Company reported Q1 Net Profit Rs2560cr (down 17.5% QoQ) – expectation Rs3100cr, Income Rs21285cr (up 2% QoQ)- expectation 21300cr, Ebit Rs3183cr (up 9.18% QoQ), Ebit margin at 15% vs 17% - expectation 15.8%, Dollar revenue at $2735.5mn (up 0.51% QoQ) – Expectation $2751 ZND Company expects dollar revenue growth 3-5%.

 

·       Havell’s announced lower than expected Q1 results - Revenue increased 63% YoY toRs4230cr while Bloomberg estimates Rs4080cr. EBITDA was up 2% YoY (down 31% QoQ) to Rs360cr - estimate Rs490cr. EBITDA margin at 8.5% - estimate of 12.1%. Adj. PAT was up 3.5% YoY Rs240cr – estimates Rs340cr .

 

·       Syngene’s 1QFY23 revenues grew 8% YoY to Rs640cr, EBITDA margin contracted 100bp YoY to 26.8%,    EBITDA up 5% YoY to Rs170cr and PAT declined by 4.4% YoY to Rs73.9cr.

 

·       Century Ply announcd impressive Q1 results. Company reported Q1 net profit Rs92.3cr (up 193% YoY), Income Rs889 (up 96% YoY), Ebitda margin 16.1% vs 13.2% (YoY) and Ebitda Rs143cr (137% YoY)

 

·       Gland Pharma announced lower than expected Ebitda but margin in line. Company reported Q1 Net profit Rs229cr (down 35% YoY) expectation Rs255cr, Ebitda Rs269.9cr (down 38% YoY) – expectation Rs311cr, Ebitda Margin 31.5% vs 37.8% (YoY) – expectation 31.3% and income Rs956.8cr (down 17% YoY)– expectation Rs995cr

 

·       Indusind Bank Q1 net profit Rs1603.3cr (up 61% YoY) – expectation Rs1470cr, Loan book grew 18% YoY (4.4% QoQ) while deposits grew 13% YoY (3.3% QoQ), provision Rs1250cr (down 30% YoY) – expectation Rs1260cr GNPA 2.35% vs 2.3% - expectation 2.2%, NPA 0.67% vs 0.6% (QoQ) - - expectation 0.6%, Operating profit Rs3430cr (up 7.5% YoY) – expectation Rs3230cr and NII Rs4125.3cr (up 15.5% YoY) – expectation Rs4120cr

 

·       AU Bank Q1 profit surged due to lower provision – Company reported Q1 net profit Rs268cr (up 32% YoY) – expectation Rs, operating profit Rs394cr (down 18.2% YoY) – expectation Rs433.5cr, provision Rs38.4cr – expectation Rs88.1cr, GNPA 1.96% vs 4.31% (QoQ), NPA 0.56% vs 2.26% (YoY) and net profit Rs268cr (32%) – expectation Rs258