News and Global Index updates.

🌹 🌞Good Morning 🌞🌅

*SGX Nifty -25 pts (16455) from last trade 16480 ,*  

Nikkei -45 pts , 

Hangseng -221 pts , 

Now @6.52am . 

Dow -228.50 pts ,

Nsdq -220.09 pts, 

S&P -45.79 pts, 

Bovespa -498 pts , 

Ftse -0.02 pts , 

Dax -113 pts , 

Cac -26 pts , 

Crude @ $95.67 brl (+0.69), 

Brent @ $104.90 brl (+0.50) , 

Gold @ 1717.30 (-0.40), 

Silver @ $18.595 (+0.06), 

Euro @ $1.0139, 

JPY @ $137.02,  

INR @ 79.845

*Today's Corporate Action*

*27th July Ex Date*

ABMKNO

Final Dividend - Rs. - 1.2500

DALMIASUG

Dividend - Rs. - 1.0000

EPL

Final Dividend - Rs. - 2.1500

GABRIEL

Final Dividend - Rs. - 1.0000

HAWKINCOOK

Final Dividend - Rs. - 60.0000

HEROMOTOCO

Final Dividend - Rs. - 35.0000

KALPATPOWR

Final Dividend - Rs. - 6.5000

LAKSELEC

Final Dividend - Rs. - 15.0000

MENONBE

Interim Dividend 

MRF

Final Dividend - Rs. - 144.0000

NITTAGELA

Dividend - Rs. - 4.0000

PRAJIND

Final Dividend - Rs. - 2.7000

TCIEXP

Final Dividend - Rs. - 2.0000

THANGAMAYL

Final Dividend - Rs. - 5.0000

UPL

Final Dividend - Rs. - 10.0000

*F&O BAN FOR 27-07-22* 

*DELTA CORP, 

INDIABULLS HOUSING*

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*Good Morning*

• India Gets $18.2B Worth Bids on 1st Day of Phone Airwave Auction

• IMF Cuts World GDP Outlook a Third Time as Inflation, Rates Jump

o IMF World Economic Outlook Update: Projections Summary (Table)

• Larsen & Toubro Misses Profit Estimate on Lofty Input Costs

• India CCI Clears Axis Bank’s Purchase of Citi’s Local Retail Ops

• India Said to Allow Bidders to Buy More Than 40% of IDBI Bank

• India Fuel Duty Cuts to Cost 1 Trillion Rupees, Sitharaman Says

• India Said to Allow Bidders to Buy More Than 40% of IDBI Bank

o Finance ministry expects to close the deal by March 2023

• India Defence Panel Approves INR287.3B Arms Purchase Proposals

• CCI Nod for Blackrock, Mubadala buying Tata Power Renew Stake

• JSW Energy Gets Court Approval to Buy Distressed Power Project

• Credit Suisse Raises India Bond View on Easing Rate-Hike Bets

• India Cumulative Monsoon Rainfall 11% Above Normal as of July 26

• Bajaj Finance to Report Results; Shares Down 10.6% YTD: Preview

• Maruti May See Lower Profit on Costs, Supply Snarls: Preview

• Tata Motors to Report Results; Shares Down 7.8% YTD: Preview

• India Top Oil Explorer Signs Pact for Green Hydrogen

• Global Funds Sell Net INR15.5B of India Stocks on Tuesday: NSE

o Domestic funds buy net 9.99b rupees of stocks

• Foreign Investors Sell Net INR5.75B of Indian Equities on Monday

• Axis Bank (AXSB): India CCI Clears Axis Bank’s Purchase of Citi’s Local Retail Ops

• JSW Energy (JSW): Gets Court Approval to Buy Distressed Power Project

• Larsen & Toubro (LT): 1Q net income +45% Y/y to 17.02b rupees, est. 17.33b, revenue +22% to 358.5b; new orders added 418.05b, order book at 1Q end 3.63t rupees

• Oil & Natural Gas Corp (ONGC): Signs accord with Greenko Zero for green hydrogen operations

• Piramal Enterprises (PIEL): Says gets RBI certificate for NBFC operations

• Sanofi India (SANL): 2Q Net Income 1.2B Rupees Vs. 1.78B Rupees Y/y; to pay INR193/share special dividend

• Shoppers Stop (SHOP): 1Q net income 228.3m rupees vs. loss 1.05b Y/y; Revenue 9.48b vs. 2.05b

• South Indian Bank (SIB): 1Q Net Income 1.15B Rupees vs. 103.1m Y/y, Provisions +79% q/q to 1.39b; Gross NPA 5.87% vs. 5.9% q/q; order book at 1Q end 3.63t rupees

• Tata Power (TPWR): 1Q net income 7.95b rupees vs. 3.91b Y/y, beats est. 4.61b; revenue +43% to 145b

• Wipro (WPRO): Says Nokia extends strategic partnership with Co., in 5-years deal with Nokia for business services, support

• United Spirits (UNSP):1Q Net Income 2.1b rupees vs. 691m Y/y, beats est. 1.86b; revenue +14% to 68.8b

• UTI AMC (UTIAM): 1Q Net Income 944.1M Rupees Vs. 1.55B Rupees Y/y

• Zydus Lifesciences (ZYDUSLIF): Gets final approval for Bisoprolol Fumarate tablets.

💢 News Room💢

: India Daybook – Stocks in News*

*PEL:* RBI grants approval to Piramal Ent to commence the business of nonbanking financial institution (Positive) 

*Defence Stocks:* Defence panel approves Rs 28,700 cr arms purchase proposals, says Government (Positive)

*Zydus Life:* Receives final approval from the USFDA for Bisoprolol Fumarate Tablets. (Positive)

*Wipro:* Company extends strategic partnership with Nokia (Positive)

*OneWeb:* Company signs MoU with French satellite operator Eutelsat (Positive)

*HDFC Life:* To consider raising funds via preferential issue (Positive)

*ONGC* signs MoU with renewable energy company, Greenko ZeroC, to jointly pursue opportunities in renewables, green hydrogen (Positive)

*Tata Motors/Ashok Ley:* Largest tender for 8,000 electric state buses on cards. (Positive)

*Tata Power* Net profit up at Rs 794.6 cr Vs Rs 391 cr, Revenue up 43.1% at Rs 14,495.5 cr Vs Rs 10,132.4 cr YoY (Positive)

*Relaxo* Net profit up 24.9% at Rs 38.6 cr Vs Rs 30.9 cr, Revenue up 34.2% at Rs 667.2 cr Vs Rs 497.1 cr (Positive)

*KEI Industries:* Revenue stands at Rs 1,565 cr vs Rs 1,017 cr, up 54%. (Positive)

*United Spirits:* Net sales stands at Rs 2,169 cr vs Rs 1,615 cr, up 34% (Positive)

*Ethos:* Net profit up at Rs 12.7 cr Vs Rs 0.83 cr, Revenue up 95.1% at Rs 173.6 cr Vs Rs 88.9 cr (Positive)

*Kabra:* Net profit up 50.9% at Rs 4.1 cr Vs Rs 2.7 cr, Revenue up 89.8% at Rs 105.2 cr Vs Rs 55.4 cr (Positive)

*Shoppers Stop:* Net profit of Rs 22.8 cr Vs loss of Rs 104.8 Cr, Revenue up at Rs 948.4 cr Vs Rs 205.2 cr (Positive)

*PNB Gilts:* Revenue at Rs. 283 cr vs Rs. 215 cr, up 31.6%, Net Profit at Rs. -89 cr vs Rs. 40 cr (Positive)

*JSW Energy:* Resolution Plan submitted by the Company for Ind-Barath Energy (Utkal) has received the approval of NCLT , Hyderabad (Positive)

*Adani Wilmar:* Credit rating Long-Term/Short Term Bank Facilities upgraded to CARE AA-;Stable / CARE A1+ (Positive) 

*Bharat Forge:* Company has incorporated a wholly-owned subsidiary in the name of "Electroforge Ltd" (Positive)

*Larsen:* Consolidated order book of the group is at a record Rs 3.63 lk cr as on June 30, 2022 (Positive)

*Larsen:* Net profit at Rs 1,702.07 cr Vs poll of Rs 1,734 cr, Revenues at Rs 35853.0 cr Vs poll of Rs 34589.0 cr (Neutral)

  

*South Indian Bank:* NII up 11.3% at Rs 603.4 Cr Vs Rs 542 Cr, Profit at Rs 30.6 cr versus Rs 32.3 cr YoY (Neutral)

*Goodluck:* Net profit up 55.8% at Rs 21 cr Vs Rs 13.5 cr, Revenue up 43.8% at Rs 809 cr Vs Rs 562.7 cr (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)

*Tata Power* Net profit up at Rs 794.6 cr Vs Rs 391 cr, Revenue up 43.1% at Rs 14,495.5 cr Vs Rs 10,132.4 cr YoY (Neutral)

*Indi Grid:* Net profit up 2.6% at Rs 83 cr Vs Rs 80.9 cr, Revenue up 1.2% at Rs 560.8 cr Vs Rs 554.3 cr (Neutral)

*SIS:* Revenue up 12.6% at Rs 2678cr vs Rs 2379cr, EBIDTA flat at Rs 121 cr (Neutral)

*Cipla:* To sell 25.92% stake in Avenue Therapeutics for $3 million (Neutral)

*Axis Bank:* Receipt of approval from Competition Commission of India for purchase of Citibank's India Consumer Business (Neutral)

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

*Sanofi:* Revenue down 11.4% at Rs 699.3 cr Vs Rs 789.1 cr, Net profit down 32.4% at Rs 120.4 cr Vs Rs 178.3 cr YoY (Negative)

*EPL:* Profit down 42.3% at Rs 33.4 cr Vs Rs 57.9 cr, Revenue up 4.1% at Rs 831.8 cr Vs Rs 799.1 cr YoY. (Negative)

*UTI AMC:* Revenue at Rs. 293 cr vs Rs. 344 cr, down 15%. Net Profit at Rs. 94 cr vs Rs. 155 cr, down 40% (Negative)

*ABAMC:* Net profit at Rs 102.8 cr Vs Rs 154.9 cr, Revenue at Rs 304.5 cr Vs Rs 303.2 cr (Negative)

*Stocks in F&O Ban*

DELTACORP

IBULHSGFIN

*Earnings Calendar: 27.07.2022* 

AARTIDRUGS, APLAPOLLO, BAJFINANCE, BIOCON, BLUEDART, CGPOWER, CHEMFABALKA, CLEAN, COLPAL, COROMANDEL, DENORA, DHAMPUR, DIXON, EIHOTEL, FINOPB, FLUOROCHEM, IIFL, JKLAKSHMI, JSLHISAR, JSWHL, LATENTVIEW, LAURUSLABS, LXCHEM, MAHLIFE, MARUTI, MIDHANI, NOVARTIND, POONAWALLA, SKFINDIA, SCHAEFFLER, TATAMOTORS, TEAMLEASE, TIRUMALCHM, UBL, VGUARD, VIPIND, WATERBASE, WELSPUNIND

*Earnings Calendar: 28.07.2022* 

AAVAS, AAVAS, AJANTPHARM, APARINDS, BAJAJFINSV, BAJAJHLDNG, CHALET, DBCORP, DRREDDY, EQUITASBNK, GHCL, INTELLECT, IFBIND, JAMNAAUTO, JUBLFOOD, LALPATHLAB, MRPL, M&MFIN, NAM-INDIA, NESTLEIND, NIITLTD, NOCIL, ORIENTCEM, ORIENTHOT, PNB, PNBHOUSING, PNC, RAMCOIND, RITES, SBILIFE, SBICARD, SHREECEM, SONACOMS, SRTRANSFIN, TTKPRESTIG, TVSMOTOR, VEDL, WESTLIFE

*: Fund Houses Recommendations* 

CS on *Larsen*: Maintain Outperform on company, target price at Rs 2000/Sh (Positive)

Jefferies on *Larsen*: Maintain Buy on company, target price at Rs 2215/Sh (Positive)

CLSA on *Larsen*: Maintain Buy on company, target price at Rs 2050/Sh (Positive)

CS on *Asian Paints*: Maintain Outperform on company, target price at Rs 3800/Sh (Positive)

CLSA on *Supreme Ind*: Maintain Outperform on company, target price at Rs 2100/Sh (Positive)

MS on *Sun Pharma*: Maintain Overweight on company, target price at Rs 1032/Sh (Positive)

CLSA on *Tata Power*: Maintain Sell on company, target price at Rs 212/Sh (Neutral)

CS on *NYKAA*: Initiate Underperform on company, cut target price at Rs 1100/Sh (Neutral)

CS on *Zomato*: Maintain Outperform on company, target price at Rs 90/Sh (Neutral)

MS on *Asian Paints*: Maintain underweight on company, target price at Rs 2674/Sh (Neutral)

Citi on *Asian Paints*: Maintain Neutral on company, target price at Rs 3400/Sh (Neutral)

Citi on *Petronet*: Downgrade to Sell on company, target price at Rs 210/Sh (Negative)

*Indian Equities Pre Open Update*

Indian equities expected to open with flat note, however volatility likely to prevail before the policy related announcement from Federal Reserve.

*Global Peers Update:* Asian stocks are trading mostly in red except Nikkei before the important policy announcement from Federal Reserve. Dow and Nasdaq futures are trading in green zone as Microsoft and Alphabet jumped post earning during the extended session. 

*Sectors to Watch:* Selective Financials, Defence, Paints and Auto ancillary stocks likely to remain on focus during the day.

*SGX NIFTY Price* 16456.0 Change: -20.0 Points, Percent Change: -0.12%

*Technical Levels: Nifty Near Future*

*Support*: 16392.0.0/16338.0

*Resistance*: 16538.0/16604.0

*Technical Levels: Bank Nifty Near Future*

          

*Support*: 36124.0/35905.0

*Resistance*: 36551.0/36712.0

*Options Pre Open Recommendations*

Nifty 16500 PUT OPTION 28th July Buy At 75.0 SL 20.0 TGT 180.0

Nifty Bank 36700.0 PUT OPTION 28th July Buy At 210.0 SL 80.0 TGT 500.0

*Stock Split Dates*

*Tata Steel Ltd.*

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

Previous day Closing Price – Rs. 949.45

Ex - Stock Split *28 July 2022 (Tomorrow)*

Last day trade for before split *Today*

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