News and Global Index updates.

🌹 🌞Good Morning 🌞🌹

*SGX Nifty -33 pts (16587) from last trade 16620 ,*  

Nikkei -69 pts , 

Hangseng +114 pts , 

Now @6.52am . 

Dow +90.75 pts ,

Nsdq -51.45 pts, 

S&P +5.21 pts, 

Bovespa +1345 pts , 

Ftse +29 pts , 

Dax -43 pts , 

Cac +20 pts , 

Crude @ $96.25 brl (-0.45), 

Brent @ $105.15 brl (+0.00) , 

Gold @ 1717.50 (-1.60), 

Silver @ $18.30 (-0.02), 

Euro @ $1.022, 

JPY @ $136.41,  

INR @ 79.695

*Today's Corporate Action*

*26th July Ex Date*

DIAMONDYD

Final Dividend - Rs. - 0.5000

GPPL

Final Dividend - Rs. - 2.4000

HATSUN

Interim Dividend 

JMCPROJECT

Final Dividend - Rs. - 1.0000

NELCAST

Final Dividend - Rs. - 0.3000

PIDILITIND

Dividend - Rs. - 10.0000

SHAREINDIA

Interim Dividend 

SIMPLXREA

Final Dividend - Rs. - 1.0000

STEELCAS

Final Dividend - Rs. - 1.8000

TCI

Final Dividend - Rs. - 2.0000

TTKHEALTH

Final Dividend - Rs. - 10.0000

*Today's Key Results/Board Meetings*

*26-Jul-22*

Larsen & Toubro, Asian Paints, Bajaj Finserv, Bajaj Auto, Tata Power Company, Union Bank of India, Aditya Birla Sun Life AMC, United Spirits, Ujjivan Small Finance Bank, UTI Asset Management Company, Greenlam Industries, Ramco Systems, Symphony, Sanofi India, Shoppers Stop, Apollo Pipes, EIH Associated Hotels, EPL, Ethos, KEI Industries, Mahindra EPC Irrigation, PNB Gilts, SIS, South Indian Bank, and TTK Healthcare will be in focus ahead of June quarter earnings on July 26.

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*Stock under F&O ban on NSE*

*26-Jul-22*

1IBULHSGFIN

♦️News Room♦️

*: India Daybook – Stocks in News*

*Axis Bank Q1:* Net Profit at Rs 4130 cr versus poll at Rs 3595cr, Gross NPA at 2.76% versus 2.70% QoQ (Positive) 

*Macrotech Q1:* Net Profit at Rs 270 cr versus Rs 160.0 cr, Revenues at Rs 2680 cr versus Rs 1610.0 cr YoY ( (Positive)

*Sonata Soft:* Net Profit at Rs 108 cr versus Rs 86.0 cr, Revenues at Rs 1780 cr versus Rs 1270.0 cr YoY ( (Positive)

*TATA STEEL:* Net Profit at Rs 7,760 cr Versus poll of Rs 7046 cr, Revenues at Rs 63128 cr Versus poll of Rs 60101 cr (Positive)

*Craftsman* Net Profit at Rs 56.6 cr versus Rs 24.0 cr, Revenue up 55.6 % at Rs 676.9 cr Vs Rs 435.1 cr (YoY) (Positive)

*Bajaj Finserve* Bajaj Finserve Board to meet for issuance of Bonus share and or Stock split (Positive)

*Lupin:* Company gets US FDA approval to market Azilsartan Medoxomil Tablets, the generic of Edarbi tablets. (Positive)

*Tata Motors* said it has tied up with EC Wheels India Pvt Ltd to deploy 1,000 XPRES-T electric sedans. (Positive)

*PTC Industries:* The company has announced the strategic acquisition of vacuum arc remelter (VAR) for manufacturing Titanium ingots (Positive)

*Sanofi India:* Board to consider declaration of One-time Special Interim Dividend (Positive)

*Chennai Petro:* Revenue up 41% to Rs 23163 cr vs Rs 16414 cr, EBITDA up 115% to Rs 3404 cr vs Rs 1581 cr (Positive)

*Larsen:* Clarification on recent news item stating “L&T to sell 8 roads, transmission project to Edelweiss fund for Rs 7000 crore (Positive)

*PSP Projects:* Company is in receipt of new work orders (WO) for worth Rs 257.27 Cr (Positive)

*Max Financial:* Promoter released pledge on 2 lakh shares (Positive)

*Tech Mahindra:* Q1FY23 PAT at Rs 1130 cr versus poll at Rs 1200 cr, Revenues at Rs 12710 cr versus poll at Rs 12120 cr (Neutral)

  

*Aether Ind:* Revenue up 6.7% at Rs 160 crore Vs Rs 150 crore, Profit at Rs 30.6 cr versus Rs 32.3 cr YoY (Neutral)

*Crisil:* Net Profit up 35.8% at Rs 136.9 crore Vs Rs 100.8 crore, Revenue up 26.5% at Rs 668.5 crore Vs Rs 528.5 crore (Neutral)

*Astec:* Net profit down 12.2% at Rs 11.4 cr Vs Rs 12.99 cr, Revenue up 43.2% at Rs 184.3 cr Vs Rs 128.7 cr (Neutral)

*IEX:* Revenue from ops at Rs 98 cr vs Rs 91 cr, PAT at Rs 69 cr vs Rs 62 cr (Neutral)

*Jindal Stainless:* Net Profit at Rs 321.0 cr versus Rs 303.0 cr, Revenues at Rs 5470 cr versus Rs 4033.0 cr YoY (Neutral)

*Indian Energy Exchange:* The company registered a 11.3% YoY growth in consolidated profit at Rs 69.13 crore for the quarter ended June 2022 (Neutral)

*Strides Pharma:* Board approves raising up to Rs 150 cr through NCDs (Neutral)

*Sapphire Foods:* Block deal likely in counter worth 280 cr this week according to CNBC sources (Neutral)

*GSK Pharma:* PAT stands at Rs 119 cr vs Rs 121 cr, Revenues at Rs 745 cr versus Rs 718.0 cr YoY (Neutral)

*Sun Pharma:* LIC cuts its stake in Sun Pharma to 5.02% from 7.03% (Neutral)

*Tanla Platforms:* The company reported a 4% year-on-year decline in profit at Rs 100.4 crore for the quarter ended June 2022 (Neutral)

*Sonata Soft:* Approved bonus issue of 1 (one) equity share for every 3 (three) equity shares held (Neutral)

*Apollo Trikot:* Net profit down 35.6% at Rs 30.7 cr Vs Rs 47.6 cr, Revenue up 36.4% at Rs 793.6 cr Vs Rs 581.6 cr YoY (Negative)

*Tatva Chintan:* Profit down 58% at Rs 9.7 Cr Vs Rs 23.1 Cr, Revenue down 17.2% at Rs 88.4 Cr Vs Rs 106.8 Cr (YoY). (Negative)

*Tejas Networks:* The company posted consolidated loss at Rs 6.64 crore for the quarter ended June 2022, against profit of Rs 7.55 crore (Negative)

*Nath Bio-Genes:* Investor Authum Investment & Infrastructure sold 20.39 lakh equity shares or 10.73% stake in the company (Negative)

*Earnings Calendar: 26.07.2022* 

ABSLAMC, APOLLOPIPES, ASIANPAINT, BAJAJ-AUTO, EIHAHOTELS, IMFA, KEI, LT, MAHEPC, OPTOCIRCUI, PNBGILTS, RAMCOSYS, RBL, RELAXO, SANOFI, SHALBY, SOUTHBANK, SYMPHONY, SIS, TATAINVEST, TATAPOWER, TTKHEALTH, UNITDSPR, UDAICEMENT, UTIAMC, UNIONBANK, UJJIVANSFB

*Earnings Calendar: 27.07.2022* 

BAJFINANCE, BIOCON, BLUEDART, CGPOWER, CHEMFABALKA, CLEAN, COLPAL, COROMANDEL, IIFL, LATENTVIEW, MAHLIFE, MARUTI, NOVARTIND, POONAWALLA, SCHAEFFLER, TATAMOTORS, TEAMLEASE, UBL

*Stocks in F&O Ban*

IBULHSGFIN

*: Fund Houses Recommendations* 

MS on *Canara Bank*: Maintain Buy on Bank, target price at Rs 230/Sh (Positive)

UBS on *Reliance*: Upgrade to Buy on company, target price at Rs 3150/Sh (Positive)

MS on *Axis Bank*: Maintain Overweight on Bank, target price at Rs 910/Sh (Positive)

CLSA on *Axis Bank*: Maintain Buy on Bank, target price at Rs 975/Sh (Positive)

JP Morgan on *Tata Steel*: Maintain Overweight on company, target price at Rs 1400/Sh (Positive)

Nomura on *Tech M*: Maintain Buy on company, target price at Rs 1270/Sh (Positive)

MS on *Tech M*: Maintain Overweight on company, target price at Rs 1100/Sh (Neutral)

JP Morgan on *Tech M*: Maintain Overweight on company, cut target price at Rs 1100/Sh (Neutral)

Jefferies on *Tech M*: Maintain Hold on company, target price at Rs 1070/Sh (Neutral)

JP Morgan on *Sona BLW*: Initiate underweight on company, target price at Rs 485/Sh (Neutral)

*Indian Equities Pre Open Update*

Flat to negative opening expected to be seen for Indian equities amid the weak cues from the U.S. markets.

*Global Peers Update:* Asian stocks are trading with mixed note. U.S. stock futures were trading lower during Monday’s evening deals, following a mixed session among major benchmark averages as investors focus on a slew of corporate earnings reports. Wallmart fell 10 percent in pre-market hours on weak comments post Q2 earnings. 

*Sectors to Watch:* Metals, Banks, Energy and NBFCs stocks likely to remain on focus during the day.

*SGX NIFTY Price* 16593.0 Change: -25.0 Points, Percent Change: -0.15%

*Technical Levels: Nifty Near Future*

*Support*: 16524.0.0/16470.0

*Resistance*: 16682.0/16757.0

*Technical Levels: Bank Nifty Near Future*

          

*Support*: 36480.0/36232.0

*Resistance*: 37155.0/37324.0

*News Update:* S&P downgrades Future Retail to 'D' on missed coupon payment; ratings withdrawn

*Options Pre Open Recommendations*

Nifty 16600 CALL OPTION 28th July Buy At 80.0 SL 44.0 TGT 188.0

Nifty Bank 36700.0 CALL OPTION 28th July Buy At 210.0 SL 90.0 TGT 510.0

: *Good Morning* 

• Tata Steel Sees Continued Price Volatility After Profit Beat

o Tata Steel pivoted to local markets on export-tax levy

• India April-June Net Direct Tax Collections Rise 41.3% Y/Y

• Axis Bank Profit Beats Estimates as Interest Income Jumps

• Spate of Mid- Flight Incidents Sparks Probe of Airlines in India

o Aviation regulator to check staff training, aircraft equipment

• TRAI Releases Consultation Paper on Embedded SIM for M2M Comm

• India Cumulative Monsoon Rainfall 11% Above Normal as of July 25

• Emerging Market ETFs End Winning Streak, Fall $460.5 Mln

• Asian Paints to Gain from Demand Revival, Price Hikes: Preview

• Bajaj Auto to Report Results; Shares up 24.2% YTD: Preview

• Larsen to Report Results; Shares Down 6.4% YTD: Preview

• Global Funds Sell Net INR8.45B of India Stocks on Monday: NSE

o Domestic funds sell net 722.6m rupees of stocks

• Foreign Investors Sell Net INR6.15B of India Equities on July 22

• 8 PSUs surrender 11 coal mines: Coal Minister Pralhad Joshi: PTI

• Consistent improvement in Delhi’s air quality: Env Minister: PTI

• Debt raised by state PSUs to be considered borrowing by state: FM Sitharaman: PTI

• Axis Bank (AXSB): 1Q net income 41.3B rupees Vs. 21.6B Y/y; Provisions -64% q/q to 3.59b; gross NPA 2.76% vs. 2.82% q/q

• Bajaj Finserv (BJFIN): To consider stock split, bonus issue in July 28 meeting

• Future Retail (FRETAIL): S&P downgrades FRETAIL to ‘D’; ratings withdrawn

• GSK Pharma India (GLXO): 1Q Net Income -1.7% Y/y to 1.19b rupees, misses est. 1.36b; revenue +4% to 7.45b

• Indian Energy Exchange (IEX): 1Q net income +8% Y/y to 685.9m rupees, est. 712.7m; revenue +9% to 983.5m

• Larsen & Toubro (LT): Clarifies LT not signed any pact for sale a road assets in report; news report on sale of mentioned assets speculative

• Lupin (LPC): Receives U.S. FDA approval for Azilsartan Medoxomil tablets

• Macrotech (LODHA): 1Q net income +68% Y/y to 2.71b rupees, misses est. 3.46b; revenue +66% to 26.8b

• PSP Projects (PSPPL): Wins orders worth 2.57b rupees

• Shriram Transport (SHTF): To consider buyback of some debt securities on July 28

• Strides Pharma (STR): Approves raising up to INR1.5b via bonds

• Sun Pharmaceutical (SUNP): Says LIC holding in SUNP shares fall to 5.024% from 7.026%

• Tata Motors (TTMT): Signs Pact With EC Wheels India for EV Fleet

• Tata Steel (TATA): 1Q net income -13% Y/y to 77.6b rupees, beats est. 72.75b; revenue +19% to 634.3b

• Tech Mahindra (TECHM):1Q net income 11.3b rupees vs. 13.5b Y/y; revenue +25% to 127.1b

[7/26, 7:54 AM] +91 98254 42542: US markets are choppy ahead of Microsoft, Apple, Amazon, and Alphabet earnings over the next two days

-Retailer Walmart slid in extended trading on a disappointing profit projection, sending retail stocks and US futures lower.

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