All You Need To Know Going Into Trade On August 9
U.S. futures slipped and precious metals tumbled Monday as traders weighed Friday’s strong employment data that fueled expectations the Federal Reserve will move closer to pulling back stimulus. Asian stocks were mixed.
Gold slumped to the lowest since March as the prospect of higher rates makes bullion less attractive relative to other assets. Silver dropped to its lowest since November. Crude oil extended last week’s decline -- its worst since October -- on concern the delta virus strain will hamper demand growth. Commodity currencies like the Australian dollar underperformed.
Stocks were little changed in Australia and fell in South Korea. Japanese markets are closed for a holiday. The dollar edged higher. On Friday, data showed U.S. job growth accelerated in July by the most in almost a year and the unemployment rate declined, illustrating momentum in a labor market grappling with hiring challenges.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, fell 0.31% to 16,217.50 as of 7:15 a.m.
The U.S. 10-year Treasury yield climbed to about 1.3% Friday. Cash Treasuries won’t trade in Asia because of the holiday in Tokyo.
Elsewhere, Bitcoin traded back above $44,000 after hitting the highest since May over the weekend.
Earnings Post Market Hours
Steel Authority of India Q1FY22 (Consolidated, QoQ)
Revenue down 11% at Rs 20,643.02 crore Vs Rs 23,284.89 crore
Net profit up 12% at Rs 3,897.35 crore Vs Rs 3,469.88 crore
Ebitda up 7% at Rs 6,568.20 crore Vs Rs 6,153.89 crore
Margin at 31.8% Vs 26.4%
Rs 5,063 crore reduction in Gross Borrowings during the quarter
Tata Power Q1FY22 (Consolidated, QoQ)
Revenue down 2% at Rs 9,968.03 crore Vs Rs 10,127.39 crore
Net profit at Rs 391.03 crore Vs Rs 392.94 crore
Ebitda up 61% at Rs 2,324.47 crore Vs Rs 1,445.61 crore
Margin at 23.3% Vs 14.3%
Solar EPC order book stood at Rs 7,257 crore
Torrent Power Q1FY22 (Consolidated, QoQ)
Revenue at Rs 3,098.91 crore Vs Rs 3,084.13 crore
Net profit down 48% at Rs 206.59 crore Vs Rs 396.93 crore
Ebitda down 20% at Rs 728.09 crore Vs Rs 914.45 crore
Margin at 23.5% Vs 29.7%
Nalco Q1FY22 (Consolidated, QoQ)
Revenue down 12% at Rs 2,474.55 crore Vs Rs 2,821.48 crore
Net profit down 63% at Rs 347.48 crore Vs Rs 935.74 crore
Ebitda down 38% at Rs 580.78 crore Vs Rs 944.01 crore
Margin at 23.5% Vs 33.5%
Bharat Electronics Ltd Q1FY22 (Consolidated, QoQ)
Revenue down 76% at Rs 1,648.67 crore Vs Rs 6,917.47 crore
Net profit down 98% at Rs 24.35 crore Vs Rs 1,368.09 crore
Ebitda down 96% at Rs 70.03 crore Vs Rs 1,980.9 crore
Margin at 4.2% Vs 28.6%
Balkrishna Industries Q1FY22 (Consolidated, QoQ)
Revenue up 3% at Rs 1,802.87 crore Vs Rs 1,753.45 crore
Net profit down 13% at Rs 330.56 crore Vs Rs 379.95 crore
Ebitda down 7% at Rs 511.17 crore Vs Rs 550.47 crore
Margin at 28.4% Vs 31.4%
Declared interim dividend of Rs 4 per equity share
JK Tyre & Industries Q1FY22 (Consolidated, QoQ)
Revenue down 11% at Rs 2,608.44 crore Vs Rs 2,927.28 crore
Net profit down 76% at Rs 46.32 crore Vs Rs 189.12 crore
Ebitda down 39% at Rs 279.50 crore Vs Rs 454.67 crore
Margin at 10.7% Vs 15.5%
Aarti Industries Q1FY22 (Consolidated, QoQ)
Revenue up 9% at Rs 1,316.76 crore Vs Rs 1,209.35 crore
Net profit up 21% at Rs 164.86 crore Vs Rs 136.10 crore
Ebitda up 21% at Rs 313.81 crore Vs Rs 260.30 crore
Margin at 23.8% Vs 21.5%
Zee Entertainment Enterprises Q1FY22 (Consolidated, QoQ)
Revenue down 10% at Rs 1,774.98 crore Vs Rs 1,965.82
Net profit down 22% at Rs 213.74 Vs Rs 275.73 crore
Ebitda down 40% at Rs 334.25 crore Vs Rs 561.57 crore
Margin at 18.8% Vs 28.6%
The Phoenix Mills Q1FY22 (Consolidated, QoQ)
Revenue down 47% at Rs 204.25 crore Vs Rs 385.83 crore
Net loss of Rs 26.20 crore Vs Net profit of Rs 65.50 crore
Ebitda down 56% at Rs 76.10 crore Vs Rs 173.41 crore
Margin at 37.3% Vs 44.9%
City Union Bank Q1FY22
NII up 2% at Rs 447.60 crore Vs Rs 436.96 crore (YoY)
Net profit up 12% at Rs 172.99 crore Vs Rs 154.03 crore (YoY)
GNPA at 5.59% Vs 5.11% (QoQ)
NNPA at 3.49% Vs 2.97% (QoQ)
Provisions down 29% at Rs 170.02 crore Vs Rs 238.51 crore (QoQ)
Ujjivan Small Finance Bank Q1FY22
Net loss of Rs 233.48 crore Vs Net profit Rs 54.65 (YoY)
NII down 16% at Rs 384.4 crore Vs Rs 458.01 crore (YoY)
Net interest margin at 8% Vs 10.2% (YoY)
GNPA at 9.79% Vs 7.07% (QoQ)
NNPA at 2.68% Vs 2.93% (QoQ)
Provisions at Rs 474.83 crore Vs recovery of Rs 25.22 crore
Astral Q1FY22 (Consolidated, QoQ)
Revenue down 38% at Rs 700.10 crore Vs Rs 1,127.80 crore
Net profit down 58% at Rs 73.90 crore Vs Rs 174.60 crore
Ebitda down 49% at Rs 129.40 crore Vs Rs 254.60 crore
Margin at 18.5% Vs 22.6%
Stocks To Watch
Axis Bank: The bank has Rs 648 crore exposure to Future Group companies. Axis Bank had Rs 305 crore outstanding at Future Retail and Rs 164 crore to Future Enterprises as of June 30. The bank’s exposure to other Future group entities was at Rs 179 crore. The bank said it was clarifying after it had received queries seeking information on its exposure to Future Group.
SpiceJet: Has clarified on report of default on payment to Airport Authority of India. The principal amount owed to AAI is completely secured by bank guarantee, the company said. The carrier is making payments for service being currently utilised as per the payment plan. Further, the company said that it has more than Rs 142 crore of claims against Airport Authority of India related to “wrongful charge of landing fee and damages for loss of aircraft due to negligence.”
Karnataka Bank: Empanelled by the Reserve Bank of India to act as an "Agency Bank" to facilitate transactions related to government businesses. Karnataka Bank is now authorised to undertake the government businesses such as revenue receipts and payments on behalf of the Central/State governments, pension payments in respect of Central/State governments, collection of stamp duty charges and any other item of work specifically advised by RBI.
Wipro: Completed the acquisition of Ampion on August 6. Ampion is an Australia-based provider of cyber security, DevOps and quality engineering services.
JSW Energy: JSW Energy (Barmer), a material subsidiary of the company, has approved a bonus issue of 126.57 crore equity shares of Rs 10 each amounting to Rs 1,265.77 crore. The company will issue 11 equity shares for every 15 equity shares held.
Suzlon Energy: To consider up to Rs 1000 crore securities issue on August 13.
Power Finance Corporation: Updated its global medium term note programme to $8 billion from $5 billion.
Dhanvarsha Finvest: To consider sub-division of shares on August 13. The company will also consider fund raising by issue of NCDs of up to Rs 250 crore.
Adani Enterprises: Incorporated a wholly owned subsidiary called, Noida Data Center Limited, on August 5. NDCL is incorporated with the object to develop, operate, maintain, deal with the business of Data Centers/IT/ITeS/ Cloud.
Earnings: Shree Cement, AstraZeneca Pharma India, MRF, Timken India, Reliance Power, Clean Science and Technology, Jet Airways (India), Hinduja Global Solutions, Balrampur Chini Mills, Gujarat State Petronet, Laxmi Organic Industries, Tamil Nadu Petroproducts, Tata Investment Corporation, Bombay Dyeing & Mfg.Co, Chemcon Speciality Chemicals, Ester Industries, Gati, Automotive Axles, Shalby, Venky's (India), The Hi-Tech Gears, IFB Agro Industries, Igarashi Motors India, Indian Hotels Co., Indraprastha Medical Corp., Kirloskar Industries, Subex, Nahar Industrial Enterprises, Nilkamal, Pokarna, Satin Creditcare Network, Shankara Building Products, Savita Oil Technologies, Steel Exchange India, Suven Life Sciences, WPIL
Rolex Rings’ shares to start trading after IPO, gets 130 times demand for shares offered
Nuvoco Vistas’ $674m IPO at Rs 560-570/share open for sale; offer close Aug. 11; Alloted 26.3m shares to anchor investors at Rs 570/share
Cartrade Tech $403 million IPO at Rs 1,585-1,618/share open for sale; offer close Aug. 11; Alloted 5.56 million shares to anchor investors at Rs 1,618/share
Devyani International IPO gets 116.7 times demand for shares offered
Exxaro Tiles’s IPO gets 22.7 times demand for shares offered
Krsnaa Diagnostics IPO gets 64.4 times demand for shares on offer
Windlas Biotech’s IPO gets demand for 22.5 times shares on offer
Deloitte, EY and others bid to manage IDBI Bank sale
Balkrishna cut to Sell at Nirmal Bang; price target Rs 2,090
Ujjivan Small Finance cut to Sell at Spark Capital Advisors
Mahindra raised to Buy at Spark Capital Advisors; price target Rs 910
Muthoot Finance cut to Accumulate at Nirmal Bang
Tata Chemicals raised to Accumulate at Nirmal Bang
Arvind cut to Hold at Batlivala & Karani; price target Rs 100
Cera Sanitary raised to Hold at IDBI Capital Market
City Union Bank raised to Buy at Dolat Capital; price target Rs 200
SBI raised to Buy at KR Choksey; price target Rs 532
Zee cut to Reduce at Dolat Capital; price target Rs 204
Pledge Share Details
Adani Enterprises: Promoter Adani Tradeline LLP created a pledge of 2.62 lakh shares on August 3.
Ajanta Pharma: Promoter Ravi Agrawal revoked pledge of 6.20 lakh shares on August 5.
Granules India: Promoter Krishna Chigurupati revoked pledge of 17.93 lakh shares on April 19.
JSW Steel: Promoters (JSW Techno Projects Management, JTPM Metal Traders, Sahyog Holdings and Vividh Finvest) revoked pledge of 36.43 lakh shares between August 2-4.
JSW Energy: Promoters (Indusglobe Multiventures, JSW Investments) revoked pledge of 4.91 crore shares between August 2-5.
As reported on August 6.
Greenlam Industries: IDFC Mutual Fund sold 4 lakh shares (1.66%) at Rs 1,350.1 per share. Hydra Trading bought 3.84 lakh shares (1.59%) at Rs 1,350 per share.
Mold-Tek Packaging: Alps Kotak India Growth Fund bought 2.52 lakh shares (0.88%) at Rs 517.99 per share. A Lakshmi Mythri sold 1.50 lakh shares (0.53%) at Rs 518 per share.
Confidence Petroleum India: Promoter Essenn LPG Bottling bought 80,000 shares on August 3.
Hatsun Agro Product: Promoter RG Chandramogan bought 1.05 lakh shares on August 5.
JSW Energy: Promoter Urmila Kanoria bought 20,000 shares on August 3.
Kotak Mahindra Bank: Promoter Janak Desai sold 2,000 shares on August 5.
Mold-Tek Technologies: Promoter J Sudha Rani sold 8,630 shares between July 28 and August 2.
Olectra Greentech: Promoter Trinity Infraventures sold 1 lakh shares on August 2.
Shiva Cement: Promoters (Anushree Jindal and Parth Jindal) bought 1.25 lakh shares between August 2-3.
Surya Roshni: Promoter Surya Roshni Employees Welfare Trust bought 40,000 shares between August 3-5.
TeamLease Services: Promoters (NED Consultants LLP and HR Offshoring Ventures Pte) sold 1.70 lakh shares between August 3-4.
Who’s Meeting Whom
Adani Green Energy: To meet RBC Global Asset Management (Asia) on August 9.
KEC International: To meet Emkay Global Financial Services on August 9.
Ex-Date AGM: Cipla, RPSG Ventures, The Anup Engineering, Spencer's Retail, Avenue Supermarts
Ex-Date Final Dividend: Eicher Motors, Alkem Laboratories, The Anup Engineering, Agro Tech Foods, Welspun Corp, Pix Transmissions
Ex-Date Dividend: Cipla, Graphite India
Ex-Date Interim Dividend: Coforge, Hawkins Cookers
Record Date Final Dividend: Jubilant FoodWorks, Share India Securities
Record Date Interim Dividend: Share India Securities
Move Out Of Short-Term ASM Framework: Arvind Fashions
Move Into ASM Framework: Hexa Tradex, Fairchem Organics
Move Out Of ASM Framework: Capri Global Capital, Future Enterprises, Balrampur Chini Mills, Dhampur Sugar Mills
Price Band Revised From 10% To 5%: Pitti Engineering
Money Market Update
The rupee ended at 74.15 against the U.S. Dollar on Friday as compared to Thursday's closing of 74.17.
Nifty August futures ended at 16,267, a premium of 28.8 points
Nifty August futures added 0.30%, and 734 shares in Open Interest
Nifty Bank August futures ended at 36,001.25, a premium of 192 points
Nifty Bank August futures added 6.92%, and 5,055 shares in Open Interest
Securities that continue to be on the ban list: Canara Bank, Indiabulls Housing Finance, Sun TV, RBL Bank
Securities added to the ban list: Nalco, SAIL