All You Need To Know Going Into Trade On July 23
Asian stocks made a cautious start Friday after U.S. shares edged toward an all-time high and Treasuries climbed as traders digested some mixed economic data and the latest spate of earnings.
Equities fluctuated in South Korea and dipped in Australia. Japan is shut for a holiday. U.S. futures rose after the S&P 500’s biggest three-day advance since April took it nearer a new peak, while the Nasdaq 100 closed at a record.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.17% at 15,840.50 as of 7:10 a.m.
Global stocks are on course for a modest weekly gain, bolstered by generally robust corporate earnings and stimulus support. At the same time, July’s decline in 10-year U.S. Treasury yields may for some signal concern that economic growth could be peaking, in part as the delta coronavirus strain forces mobility curbs in some countries.
Elsewhere, oil held around the highest in a week amid expectations of tightening supplies as demand recovers. Bitcoin traded just above $32,000.
Earnings Post Market Hours
Mphasis Q1FY22 (Consolidated, QoQ)
Revenue up 7% at Rs 2,690.80 crore Vs Rs 2,524.20 crore
Net profit up 7% at Rs 339.60 crore Vs Rs 316.90 crore
Ebit up 5% at Rs 427 crore Vs Rs 405.4 crore
Margin at 15.9% Vs 16.1%
New TCV wins of $505 million, of which 85% in new generation services
Persistent Systems Q1FY22 (Consolidated, QoQ)
Revenue up 10% at Rs 1,229.9 crore Vs Rs 1,113.30 crore
Net profit up 10% at Rs 151.20 crore Vs Rs 137.70 crore
Ebitda up 7% at Rs 201.50 crore Vs Rs 188.20 crore
Margin at 16.4% Vs 16.9%
The order booking for the quarter was at $244.8 million in Total Contract Value and at $188.83 million in Annual Contract Value
ICICI Lombard General Insurance Q1FY22 (QoQ)
Revenues up 3% to Rs 2,705.77 crore Vs 2,616.22 crore
Post tax net profit of Rs 151.63 crore Vs Rs 345.68 crore
Ebitda at Rs 32.97 crore Vs 781.88 crore
Margins at 1.2% Vs 29.9%
EPS at Rs 3.34 Vs Rs 7.61
Gross written premiums at Rs 3,807.56 crore Vs Rs 3,559.87 crore
Solvency ration at 2.76x Vs 2.90x
Indiamart Intermesh Q1FY22 (Consolidated, QoQ)
Revenue up 1% at Rs 181.60 crore Vs Rs 179.70 crore
Net profit up 58% at Rs 87.90 crore Vs Rs 55.70 crore
Ebitda up 4% at Rs 88.60 crore Vs Rs 85.40 crore
Margin at 48.8% Vs 47.5%
Consolidated cash flow from operations stood at Rs 61 crore
Cash and investments balance stood at Rs 2,421 crore
South Indian Bank Q1FY22 (Standalone)
NII down 8% at Rs 542 crore Vs Rs 586.89 crore (YoY)
Net profit down 87% at Rs 10.31 crore Vs Rs 81.65 crore (YoY)
GNPA at 8.02% Vs 6.97% (QoQ)
NNPA at 5.05% Vs 4.71% (QoQ)
Provisions up 21% at Rs 497.97 crore Vs Rs 412.29 crore (QoQ)
Covid related provisions at Rs 84.22 crore
Tanla Platforms Q1FY22 (Consolidated, QoQ)
Revenue down 3% at Rs 626.38 crore Vs Rs 648.55 crore
Net profit up 2% at Rs 104.48 crore Vs Rs 102.53 crore
Ebitda flat at Rs 134.52 crore Vs Rs 134.03 crore
Margin at 21.5% Vs 20.7%
Earnings per share was Rs 7.68
Chennai Petroleum Corporation Q1FY22 (Consolidated, QoQ)
Revenue down 13% at Rs 12,797.39 crore Vs Rs 14,705.48 crore
Net sales down 7% at Rs 8,166.46 crore Vs Rs 8,737.24 crore
Net profit down 77% at Rs 56.65 crore Vs Rs 241.98 crore
Ebitda down 44% at Rs 291.27 crore Vs Rs 521.98 crore
Margin at 3.6% Vs 6%
Bajaj Holdings and Investment Q1FY22 (Consolidated, QoQ)
Revenue up 6% at Rs 97.65 crore Vs Rs 92.49 crore
Net profit down 18% at Rs 778.55 crore Vs Rs 948.98 crore
Ebitda up 19% at Rs 69.15 crore Vs Rs 58.08 crore
Margin at 70.8% Vs 62.8%
Net income Rs 84 crore Vs estimate Rs 174 crore
Revenue Rs 1,810 crore Vs estimate Rs 1,882 crore
Ebitda Rs 437 crore Vs estimate Rs 456 crore
Stocks To Watch
Tata Power: To sell 100% stake in Trust Energy Resources Pte to Tata Power International Pte, a wholly-owned subsidiary of the company, for $285.64 million. The transaction is expected to be completed by August 10.
UltraTech Cement: Prepaid long-term loans amounting to Rs 5,000 crore in July. The loan repayments were made through free cash flows.
Mahindra Lifespace Developers: Board to consider the proposal for issuance of bonus equity shares on July 28.
Wipro: Launched FieldX, a cloud-based end-to-end digital service lifecycle automation solution built on ServiceNow’s Now Platform. Using FieldX, manufacturing organizations can enhance and scale-up their after-sales customer service operations while reducing costs, the company said.
PSP Projects: Secured new work orders worth Rs 82.79 crore till date in the financial year 2021-22 for Institutional and Industrial projects.
Tanla Platforms: Approved the proposal to buyback up to 5,15,873 shares of the company for an aggregate amount of Rs 65 crore at a price not exceeding Rs 1,260 per share.
Hero MotoCorp: Launched an advanced, ‘connected’, and feature-rich new Maestro Edge 125.
Spandana Sphoorty Financial: Allotted 12,500 secured NCDs of face value of Rs 1 lakh each on a private placement basis for aggregate amount of Rs 125 crore. The issue will mature in May 2023.
Future Retail: Misses service of payment of interest on $ notes. Proposes to make interest payment within 30 days.
Allcargo Logistics: To consider proposal for voluntary delisting on August 6.
Magma Fincorp has been renamed as Poonawalla Fincorp. The company’s fully-owned housing finance subsidiary, Magma Housing Finance Limited, has also been renamed as Poonawalla Housing Finance. Under Poonawalla brand, the group said that it will focus on consumer and MSME segment. The company will also expand its product range to include personal loans, loans to professionals, merchant cash advance, loan against property, consumer finance and machinery loans along with existing products of business loan, pre-owned car loans and home loans.
Earnings: Reliance Industries, Ambuja Cements, JSW Steel, SBI Cards and Payment Services, United Spirits, Tata Steel Bsl, Yes Bank, Crompton Greaves Consumer Electricals, Jubilant Pharmova, Federal Bank, ABB Power Products and Systems India, Symphony, Atul, Cigniti Technologies, Cybertech Systems and Software, Dynamatic Technologies, Fineotex Chemical, Nectar Lifesciences, Panacea Biotec, Seshasayee Paper & Boards, SKF India, Wendt (India)
Zomato Ltd. to start trading after pricing IPO at Rs 76/share
Jhunjhunwala-backed Star Health seeks Sebi nod for IPO
Pledge Share Details
Adani Ports and SEZ: Promoter Adani Tradeline LLP revoked pledge of 5 lakh shares on July 20.
Adani Transmission: Promoter Adani Tradeline LLP revoked pledge of 8.54 lakh shares on July 20.
Apollo Hospitals Enterprise: Promoter PCR Investments revoked pledge of 4 lakh shares on July 20.
JSW Steel: Promoter Siddeshwari Tradex revoked pledge of 22.89 lakh shares on July 19.
Max Financial Services: Promoter Max Ventures Investment Holdings revoked pledge of 7,000 shares on July 20.
As reported on July 22.
Unitech: IL&FS Financial Services sold 1.96 crore shares (0.75%) at Rs 1.92 per share.
Who’s Meeting Whom
CRISIL: To meet Edelweiss on July 23.
Deepak Fertilisers And Petrochemicals Corporation: To meet Goldman Sachs Asset Management (India) and Avendus Capital Public Markets Alternate Strategies LLP on July 23.
Price Band Revised From 10% To 5%: Trigyn Technologies
Price Band Revised From 20% To 10%: Xchanging Solutions
Move Out Of Short-Term ASM Framework: SML Isuzu, Equitas Holdings
Move Into ASM Framework: Thirumalai Chemicals
Ex-Date Dividend: Karur Vysya Bank, Seacoast Shipping Services
Ex-Date Interim Dividend: Angel Broking
Ex-Date Final Dividend: Tech Mahindra, Elgi Equipments
Record Date Dividend: Blue Star, Thermax, Elecon Engineering
Record Date Final Dividend: Sumitomo Chemical
Record Date Interim Dividend: Hatsun Agro Product
Money Market Update
The rupee ended at 74.46 against the U.S. Dollar on Thursday as compared to Tuesday's closing of 74.61.
Nifty July futures ended at 15,823.45, a discount of 0.6 points
Nifty July futures shed 11.45% and 21,649 shares in Open Interest
Nifty Bank July futures ended at 34,740.60, a premium of 63.3 points
Nifty Bank July futures shed 12.61% and 11,648 shares in Open Interest
Securities that continue to be on ban list: Cadila Healthcare, Canara Bank, Indiabulls Housing Finance, Nalco, Sun TV
Securities removed from the ban list: NMDC