All You Need To Know Going Into Trade On July 29
Asian stocks rose early Thursday after the Federal Reserve inched closer to tapering substantial stimulus but said more economic progress is needed and as traders weigh efforts by China to restore market calm there.
Japanese, Australian and South Korean shares pushed higher. Futures rose in Hong Kong, where traders are waiting to see if equities will rebound from steep losses sparked by China’s crackdown on private enterprises. Nasdaq 100 futures dipped as Facebook Inc. fell in extended trading on a cautious outlook. The tech-heavy gauge advanced overnight and the S&P 500 was little changed.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.22% at 15,742 as of 7:05 a.m. Yields on longer-term Treasuries were steady as was the dollar in the wake of the Fed meeting.
Elsewhere, oil held an advance as declining stockpiles of U.S. crude, gasoline and distillate signaled healthy demand during the nation’s summer driving season. Bitcoin traded around $40,000, holding this week’s recovery.
Earnings Post Market Hours
Nestle India Q2CY2021 (QoQ)
Revenue down 4% at Rs 3,476.70 crore Vs Rs 3,610.82 crore (Bloomberg estimate: Rs 3,523.9 crore)
Net profit down 11% at Rs 538.58 crore Vs Rs 602.25 crore (Bloomberg estimate: Rs 573.4 crore)
Ebitda down 9% at Rs 848 crore Vs Rs 929.87 crore (Bloomberg estimate: Rs 874.9 crore)
Margin at 24.4% Vs 25.8% (Bloomberg estimate: 24.8%)
Domestic & Export sales achieved double digit growth largely driven by volume & mix
Domestic sales increased by 13.7%
Export sales increased by 17.7% due to timing of exports to affiliates
Invested Rs 1,000 crore so far, of the Rs 2,600 crore investment plan over 3-4 years
To sell entire stake of 19.98% in Sahyadri Argo and Dairy
To transfer Rs 837.43 crore of General Reserves to Retained Earnings
United Breweries Q1FY22 (Consolidated, QoQ)
Revenue down 27% at Rs 2,652.63 crore Vs Rs 3,618.09 crore
Net profit down 68% at Rs 30.89 crore Vs Rs 97.14 crore
Ebitda down 64% at Rs 95.59 crore Vs Rs 262.3 crore
Margins at 3.60% Vs 7.25%
Net debt stood at Rs 123 crore
Primary Volume Growth 115%
ABB India Q2CY2021 (QoQ)
Revenue down 13% at Rs 1,424.96 crore Vs Rs 1,629.15 crore
Net profit down 50% at Rs 70.26 crore Vs Rs 141.33 crore
Ebitda down 28% at Rs 94.75 crore Vs Rs 132.25 crore
Margins at 6.6% Vs 8.1%
Total orders for the quarter were at Rs 1,689 crore as compared to Rs 1,200 crore in Q2 2020
Strong backlog execution and solid customer-connect and service business supported a recovery in June
Mahanagar Gas Q1FY22 (QoQ)
Revenue down 15% at Rs 666.85 crore Vs Rs 784.04 crore
Net profit down 4% at Rs 204.08 crore Vs Rs 212.77 crore
Ebitda down 4% at Rs 303.99 crore Vs Rs 316.16 crore
Margins at 45.59% Vs 40.32%
Wabco India Q1FY22 (QoQ)
Revenue down 31% at Rs 491.91 crore Vs Rs 712.32 crore
Net profit down 55% at Rs 21.38 crore Vs Rs 47.63 crore
Ebitda down 50% at Rs 42.10 crore Vs Rs 83.44 crore
Margins at 8.6% Vs 11.7%
Oracle Financial Services Software Q1FY22 (Consolidated, QoQ)
Revenue up 15% at Rs 1,397.3 crore Vs Rs 1,210.80 crore
Net profit up 14% at Rs 524.10 crore Vs Rs 460.30 crore
Ebitda up 24% at Rs 732.60 crore Vs Rs 589.30 crore
Margins at 52.43% Vs 48.67%
Stocks To Watch
Axis Bank: RBI has imposed Rs 5 crore penalty on the bank. Penalty imposed for contravention of RBI's cybersecurity framework. RBI reviewed the supervisory evaluations of the bank over the last few years, an instance of fraud and instances of suspicious transactions in June 2020. After considering the bank's responses to show cause notices and oral submissions at a personal hearing, the RBI imposed the fine.
HDFC: Updated its existing Medium Term Note Programme for an amount of up to $2.8 billion to enable the corporation to issue rupee/foreign currency denominated bonds in the international capital markets, subject to regulatory approvals.
Amara Raja Batteries: Andhra Pradesh High Court on July 26 heard the matter pertaining to the closure orders received by the company from Andhra Pradesh Pollution Control Board. The high court has extended the interim suspension of said orders of APPCB by four weeks. The next hearing is scheduled on August 16. The company’s plants situated at Karakambadi, Tirupati and Nunegundlapalli Village, Chittoor District, Andhra Pradesh had received closure orders from APPCB.
Canara Bank: Subscribed to 50,000 equity shares of IBBIC Private Limited, representing 5.55% of the issued and paid-up capital of the company, at Rs 10 each aggregating to Rs 5 lakh on July 26.
HCL Technologies: Appointed Jill Kouri as Global Chief Marketing Officer.
Isgec Heavy Engineering: Isgec Hitachi Zosen (a joint venture of Isgec Heavy Engineering and Hitachi Zosen Corporation) received a major order for a PTA Reactor for a public sector petrochemical project from Technip Energies, Noida.
Astec LifeSciences: Appointed Anurag Roy as Chief Executive Officer for a term of 3 years with effect from July 28.
Earnings: Tech Mahindra, Colgate-Palmolive (India), Indus Towers, Container Corporation Of India, TVS Motor Company, Deepak Nitrite, Laurus Labs, Eris Lifesciences, Ajanta Pharma, JK Lakshmi Cement, LIC Housing Finance, Union Bank Of India, Aegis Logistics, AAVAS Financiers, EIH, EPL, Genus Power Infrastructures, Great Eastern Shipping Co., Jindal Stainless (Hisar), Solar Industries India, Jyothy Labs, ADF Foods, DFM Foods, Future Retail, Firstsource Solutions, Shriram City Union Finance, Motilal Oswal Financial Services, Dhanuka Agritech, CCL Products (India), Andhra Paper, Dwarikesh Sugar Industries, GHCL, Garware Hi-Tech Films, Hawkins Cookers, Home First Finance Company India, KSB, Mahindra Holidays & Resorts India, Mangalore Refinery & Petrochemicals, Oberoi Realty, Olectra Greentech, Orient Electric, Parag Milk Foods, Poly Medicure, Privi Speciality Chemicals, Prism Johnson, Punjab & Sind Bank, PVR, Raymond, Shoppers Stop, Shree Digvijay Cement Co., Stove Kraft, Vaibhav Global, Vardhman Textiles, Welspun Corp, Welspun Enterprises
Rolex Rings IPO fully subscribed, gets 3.84 times shares demand on first day sale; offer close July 30
Glenmark Life Sciences IPO fully subscribed, gets 4.03 times shares demand on second day sale; offer close July 29
S.J.S. Enterprises seeks approval for up to $107 million IPO
Tatva Chintan Pharma to make stock market debut after its IPO got subscribed 180.36 times. Its issue price was fixed at ₹1,073-1,083 apiece.
Pledge Share Details
Orient Electric: Promoters (Central India Industries and Shekhavati Investments and Traders) revoked pledge of 52.50 lakh shares between July 26-27.
As reported on July 28.
The Anup Engineering: PGIM India Small Cap Fund bought 50,000 shares (0.51%) at Rs 1,024.77 per share.
Equitas Holdings: CDC Group PLC sold 80 lakh shares (2.34%) at Rs 130 per share.
Himadri Speciality Chemical: BC India Investments sold 25 lakh shares (0.60%) at Rs 52.50 per share.
Asahi India Glass: Promoter Tarun Tahiliani sold 17,757 shares between July 16-22.
Plastiblends India: Promoter Jyoti Kabra bought 5,000 shares between July 22-26.
Who’s Meeting Whom
DCM Shriram: To meet Nippon India Mutual Fund on July 29.
Deepak Fertilisers and Petrochemicals Corporation: To meet BOI AXA Mutual Fund and KR Choksey on July 29.
Ex-Date Final Dividend: Alembic, Amara Raja Batteries, Andhra Paper, Balaji Amines, Dabur India, Delta Corp, Emkay Global Financial Services, Gandhi Special Tubes, ICICI Bank, Igarashi Motors India, Indo Amines, Kriti Industries (India), Sobha, Sudarshan Chemical Industries, Symphony, Timken India, VRL Logistics, Whirlpool of India, Wim Plast
Ex-Date Dividend: Bandhan Bank, IFGL Refractories, Pokarna, Quick Heal Technologies, Saksoft, Uniphos Enterprises
Ex-Date Interim Dividend: Stylam Industries
Ex-Date Bonus Issue: Power Grid Corporation of India
Ex-Date AGM: Rane Holdings, Indian Overseas Bank
Record Date Final Dividend: Computer Age Management Services, Mrs. Bectors Food Specialities, Prataap Snacks
Price Band Revised From 10% To 5%: JSW Energy
Move Into Short-Term ASM Framework: Alkyl Amines Chemicals
Move Out Of Short-Term ASM Framework: Wheels India
Move Into ASM Framework: Wheels India, Equitas Holdings
Money Market Update
The rupee ended at 74.37 against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 74.46.
Nifty July futures ended on 15,707.50, a discount of 1.9 points.
Nifty July futures shed 32.19% and 42,764 shares in Open Interest.
Nifty Bank July futures ended on 34,571.00, a premium of 38.1 points
Nifty Bank July futures shed 42.42% and 24,445 shares in Open Interest.
Securities that continue to be in the ban list: Vodafone Idea
Securities added to the ban list: Sun TV
Securities removed from the ban list: SAIL