Sensex, Nifty End Near Day’s Low; Financials, RIL Top Laggards

Indian equity markets fell for the fourth straight day - the most in over five months, dragged by heavyweight financials and Reliance Industries.Rising Covid-19 cases and lack of upside triggers saw benchmark indices face pressure at higher levels.The S&P BSE Sensex ended 1.77% lower at 36,939 while the NSE Nifty 50 fell 1.64% to end at 10,891.Banking and Financial Services stocks were the major laggards in today's trade. The Nifty Bank index ended with losses of over 2% with private banks leading the declines. Nifty Realty and Nifty Media were the other two sectoral laggards, ending with losses of 1% each.Broader markets outperformed in today's trade. The midcap index ended little changed while the smallcap index ended with gains of 1%.The India Volatility Index ended 3.9% higher at 25.13.Market breadth ended in favour of the gainers. 998 stocks on the NSE ended with gains while 820 declined..Trades at the highest level in nearly six monthsGains as much as 8.5% to Rs 293.45Biggest single-day gain in two monthsUp for the fifth straight dayLongest winning streak in two monthsUp 16% in the last five trading sessionsToday's volumes are more than double its 20-day averageRelative Strength Index approaching oversold territory of 70; currently at 69.8Has nearly tripled from its 52-week low of Rs 91.2, on March 26, 2020.Ekta Kapoor’s Strategy To Grow ALTBalaji Without Taking On Netflix, Amazon.The drugmaker has informed the exchanges that it has announced a Covid-19 vaccine partnership with the U.K. Government.The manufacturing of the vaccine will be undertaken at CP Pharmaceuticals, a subsidiary of the company based in North Wales, the company has said in an exchange filing.As per the terms of the agreement, the company has reserved manufacturing capacity to allow for the supply of multiple vaccines to the U.K. government..Today we have secured additional capacity to manufacture millions of doses of multiple Covid-19 candidates, guaranteeing the supply of vaccines we need to protect people across the U.K. rapidly and in large numbers.Statement From Wockhardt.Shares are locked in a 10% upper circuit at Rs 303.6. The stock is up for the fifth straight day..The company informed the exchanges that it has won multiple orders across geographies including the U.S., Saudi Arabia and India.The orders are for 106 KMT and are worth Rs 1,000 crore, the company said in an exchange filing.The order book of the company post these orders stand at 759 KMT and worth Rs 6,200 crore, post execution up to June 2020.'This reflects overall improvement in business sentiments and exhibits our strong customer connect,' the company said.Shares are locked in an upper circuit of 5% at Rs 92.15. The stock is up for the fifth straight day..Revenue down 59% to Rs 590.4 croreNet profit down 71% to Rs 42.7 croreEbitda down 70% to Rs 72.8 croreEbitda margins down to 12.3% from 16.6%Sales in April were a complete washoutSales of decorative has seen a revival in May and JuneSaw double-digit volume growth in May and JuneIndustrial sales continued to impacted in May and JuneBasic raw material prices were benign this quarter though there was volatility in forex ratesAll numbers are standalone and compared on a year-on-year basis.Shares rose to the day's high, gaining as much as 3.2% to Rs 447.3. The stock is up for the second straight day..Benchmark indices at the day's lowSensex down 1.7% at 36,953Nifty down 1.7% at 10,888Nifty Bank down 2.5% to 21,089Nifty Midcap Index up 0.1%Nifty Smallcap Index up 1%India Volatility Index up 4.6% to 25.3Nifty Realty and Nifty I.T. down 1% eachNifty Media and Nifty FMCG is the other sectoral laggardNifty Pharma gives up gains; trades flatTata Motors remains the top Nifty gainer; up 6.4%UPL remains the top Nifty laggard; down 5.5%966 stocks on the NSE trade with gains while 835 decline.The currency has ended lower in today's session, in-line with the weakness in India's equity markets.The rupee ended at 75.01 against the U.S. Dollar as compared to Friday's close of 74.81.Rupee was the worst performing currency in Asia today after today's losses.Yield on the 10-year government bond ended at 5.837% as compared to Friday's closing of 5.838%..Maruti's 6,500 Call: Premium down 25.4% to Rs 107.6. The contract has added 62,000 shares in Open Interest.Tata Motors' 120 Call: Premium up 43% to Rs 4.1. The contract has added 18.2 lakh shares in Open Interest.Titan's 1,100 Call: Premium up 66.7% to Rs 45.6. The contract has added 1.8 lakh shares in Open Interest..Among the top performers on the Nifty Smallcap IndexTrades at the highest level since September 2019Gains as much as 8.9% to Rs 53.2Biggest single-day gain in three monthsUp for the eighth straight dayLongest winning streak since June 2016Has gained 24% in the last eight trading sessionsToday's volumes are 21% higher than its 20-day averageStock trades in overbought territory with Relative Strength Index (RSI) at 80Has more than doubled from its 52-week low of Rs 20 on March 24, 2020Five out of the six analysts tracking the stock have a buy recommendation; 0 sell callsThe stock trades 12% above its 12-month consensus price target of Rs 44.7, implying a negative return potential.Revenue flat at Rs 91 croreNet profit down 47% to Rs 9.3 croreEbitda down 98% to Rs 0.23 croreEbitda margin at 0.3% from 13.6%Hotel segment revenue down 11% to Rs 64.4 croreInternational Trade division revenue up 3% to Rs 4.83 croreTravels and Tours business revenue down 7% to Rs 6.89 crore.Shares gained as much as 5% to Rs 223.55, post the announcement..Benchmark indices in Europe have opened flat after a two-day decline that saw the Stoxx 600 end at a one-month low.The Stoxx 600 has opened 0.2% higher today with technology and basis resources leading the gains. Banking stocks are the underperformers.Asian markets have ended mixed while futures on the Dow Jones are trading lower by 50 points.Brent crude trades 0.7% lower at $43.21 per barrel while Gold is little changed at $1,973/Oz..Let's take a look at how benchmark indices across Europe have opened:Euro Stoxx 50 up 0.3% at 3,183DAX up 0.5% at 12,372CAC little changed at 4,790FTSE 100 little changed at 5,893IBEX 35 down 0.2% at 6,866.Total wheel rim sales in July down 27% to 9.25 lakhExpect sales to reach pre-Covid-19 levels by SeptemberGross turnover down 27% to Rs 132.75 crore in JulyNet turnover down 29% to Rs 110.35 crore in JulyWheel segment reported highest volume sale in JulyExpect Mehsana plant to run at 90% utilisation from AugustExport volumes down 3%Passenger car segment sees de-growth of 13%Two and Three-wheeler segment sees de-growth of 68%Tractor segment sees growth of 15%CV volumes decline 53% due to high double-digit drop in CV sales.Shares are trading near the day's low, down 2.4% to Rs 402, down for the third straight day..Trades at the highest level since September 2018Gains as much as 4.6% to Rs 1,132.9Biggest single-day gain in three monthsHas gained in six out of the last seven trading sessionsUp 12% in the last seven trading sessionsToday's volumes are 41% higher than its 20-day averageThe stock trades in overbought territory with Relative Strength Index (RSI) at 82Shares have nearly doubled from its 52-week low of Rs 667 on September 12, 201913 out of the 35 analysts tracking the stock have a buy recommendation; 14 sell callsThe stock trades 13.7% above its 12-month consensus price target of Rs 974.3, implying a negative return potential.Net Interest Income flat at Rs 3,480.9 croreNet profit more than triples to Rs 843.6 croreGross NPA at 13.91% from 14.78% last quarterNet NPA at 3.58% from 3.88% last quarterProvisions for NPAs at Rs 7,666 crore; up 5% from the previous quarterOther Income up 43% to Rs 1,707 croreAdditional Covid-19 provisions worth Rs 620.3 crore this quarterTotal Covid-19 provision at Rs 1,034.7 croreProvision Coverage Ratio at 84.87%Total slippages this quarter at Rs 402 croreSMA loans outstanding at Rs 3,300 crore as on June 30Domestic NIMs at 2.73% from 3.03% year-on-year.Shares gained as much as 7.1% to Rs 50.4, post the announcement..Benchmark indices remain near the day's lowNifty down 0.9% at 10,974Sensex down 1.1% at 37,213Nifty Bank down 1.7% at 21,268Nifty Midcap Index up 0.6%Nifty Smallcap Index up 1.4%India Volatility Index up 3% to 24.92Nifty Realty is the other major sectoral loser; down 1.3%Nifty Pharma gains for fifth straight day; up 1.6%Nifty PSU Bank, Nifty Metal up 1% eachTata Motors remains the top Nifty gainer; up 5%UPL remains the top Nifty laggard; down 5.5%982 stocks on the NSE trade with gains while 752 decline.Total production in July up 13% to 2.19 MTTotal sales in July up 7% to 2.57 MTProduction from Chhattisgarh up 34% to 1.56 MTSales from Chhattisgarh up 19% to 1.9 MTProduction from Karnataka down 19% to 0.63 MTSales from Karnataka down 17% to 0.67 MTComparisons with production and sales in July 2019..Shares are off the day's high, currently up 0.8% at Rs 84.55..Revenue down 9.1% to Rs 2,348.2 croreNet profit down 91.3% to Rs 13.3 croreEbitda down 30.1% to Rs 359.8 croreEbitda margin at 15.3% from 19.9%Higher input costs impact marginsHigher input costs partially offset by lower power, fuel and freight expensesLower other income and higher depreciation costs impact net profitBasic Chemistry products revenue down 14% to Rs 1,672 croreSpecialty products revenue up 7% to Rs 675.9 croreAll numbers are consolidated and compared on a year-on-year basis.Shares fell as much as 4.1% - the most in over two months to Rs 293. The stock trades at the lowest in over two months..Nifty August futures add 9% and 9.2 lakh shares in Open Interest.Nifty Bank August futures add 25% and 17 lakh shares in Open Interest..Nifty: August 6 Expiry11,000 Put: Premium up 54.5% to Rs 113.9. The contract has added 5.5 lakh shares in Open Interest.11,100 Call: Premium down 50% to Rs 51.6. The contract has added 13.1 lakh shares in Open Interest.11,000 Call: Premium down 44.8% to Rs 89.6. The contract has added 21.1 lakh shares in Open Interest..Nifty Bank: August 6 Expiry21,000 Put: Premium up 38.6% to Rs 201. The contract has added 2.4 lakh shares in Open Interest.22,000 Call: Premium down 51% to Rs 119.3. The contract has added 3.94 lakh shares in Open Interest.21,500 Call: Premium down 42.3% to Rs 280.3. The contract has added 3.2 lakh shares in Open Interest..Business outlook is persistently challenging due to continued slowness in power sector ordering.Pace of ordering is yet to pick-up post Covid-19.Conversion into resumption in ordering in the power sector will be clear only in the longer outlook.Atmanirbhar Bharat is expected to augment revival of growth for the manufacturing sector.Return to normal business operations is presently uncertain.Delays in cash collecting activities are anticipated.Existing contracts/ agreements where non fulfillment of the obligations by any party will have significant impact on listed entity’s business..Shares are off the day's high, currently trading 0.8% higher at Rs 36.25..Revenue down 8.7% to Rs 1,554.2 croreNet profit up 16.4% to Rs 88.5 croreEbitda up 16.9% to Rs 165.9 croreEbitda margin at 10.7% from 8.3%Lower raw material costs aid marginsAnimal feed business revenue down 15% to Rs 748 croreVegetable oil business revenue up 8% to Rs 157.4 croreCrop Protection Business revenue up 12% to Rs 320.8 croreDairy business revenue down 26% to Rs 236.4 crorePoultry and Processed food business revenue up 22% to Rs 165.5 croreAll numbers are consolidated and compared on a year-on-year basis.Shares gained as much as 4.5% to Rs 479.9. The stock is up for the second straight day..India's manufacturing Purchasing Managers' Index for the month of July stood at 46, as compared to 47.2 in the month of June, according to IHS Markit.The figure during the same period in 2019 stood at 52.5. This was the fourth straight month of contraction for the Indian economy after it went into one of the strictest lockdowns to combat the Covid-19 pandemic.Output too has seen a contraction for the fourth straight month, falling to 44 from 46.7 in June.New orders too have fallen as compared to the previous month..Top performing stock on the Nifty Midcap IndexGains as much as 9% to Rs 867Biggest single-day gain in nearly two monthsTrading at the highest level since March 2019Up for the fourth straight dayHas gained in eight out of the last 11 trading sessionsUp 15.6% over the last four trading sessionsToday's volumes are more than quadruple its 20-day averageStock trades in overbought territory with Relative Strength Index (RSI) at 84The stock has more than tripled from its 52-week low of Rs 230 on March 25, 202011 out of the 13 analysts tracking the stock have a buy recommendation; 2 sell callsThe stock trades 19.9% higher than its 12-month price target of Rs 686.7, implying a negative return potential.Net profit up 93% to Rs 551 croreEbitda up 29% to Rs 1,704 croreEbitda margin at 21.8% from 16.7%Net debt maintained at Rs 22,000 croreLatin America revenue down 16% to Rs 2,015 croreNorth America revenue down 14% to Rs 1,027 croreNorth America revenue impacted by Covid-19 related Pre-buying in Q4FY20Europe revenue up 1% to Rs 1,703 croreIndia revenue up 27% to Rs 1,511 croreRest of the World revenue up 10% to Rs 1,578 croreRemain well positioned to deliver revenue and Ebitda growth for the full year.Brokerages like CLSA, Investec and Emkay have raised their respective price targets on the stock, after reiterating their bullish stance on the company's prospects going ahead.Shares fell as much as 6.9% to Rs 445.2. This was the biggest single-day decline for the stock in nearly three months. It is also the worst performing stock on the Nifty 50 index..Benchmark indices extend lossesNifty down 0.9% at 10,978Sensex down 1% at 37,249Nifty Bank down 1.5% at 21,313Nifty Midcap Index up 0.6%Nifty Smallcap Index up 0.9%India Volatility Index up 4.3% to 25.2Nifty Realty is the other major sectoral laggard; down 1%Nifty Auto is the top sectoral gainer; up 1%Nifty Metal is the other sectoral gainer; up 0.9%Tata Motors is the top Nifty gainer; up 5.5%UPL is the top Nifty laggard; down 5.2%869 stocks on the NSE trade with gains while 771 decline.The currency opened weak in today's session after capping off a rangebound week on Friday.The rupee opened at 74.88 against the U.S. Dollar as compared to Friday's close of 74.81.The currency was the worst performing in Asia last week, despite ending little changed for the week..Overall sales for the month down 33% to 2,55,832 unitsDomestic sales down 23% to 1,58,976 unitsExports down 45% to 96,856 unitsTwo-wheeler domestic sales down 11% to 1,52,474 unitsTwo-wheeler exports down 43% to 86,082 unitsDomestic CV sales down 81% to 6,502 unitsCV exports down 57% to 10,774Overall two-wheeler sales down 26% to 2,38,556 unitsOverall CV sales down 71% to 17,276 units.Shares gained as much as 2.2% to Rs 3,069, before cooling off..India reports 52,972 new cases in the last 24 hoursTotal cases cross the 18 lakh markConfirmed cases now at 18,03,695Active cases at 5,79,357Number of patients cured / discharged / migrated at 11,86,203Death toll rises to 38,135771 deaths reported over the last 24 hours40,574 recoveries reported in the last 24 hours.Coronavirus India Updates: Tally Tops 18 Lakh; Amit Shah, Yediyurappa Test Positive.Net loss widens to Rs 8,438 crore from Rs 3,698 croreRevenue down 48% to Rs 31,983 croreEbitda down 79% to Rs 653.3 croreEbitda margin down to 2% from 4.87%Outlook remains uncertain for the year as infections continuing to riseExpect gradual recovery of demand and supply in the coming monthsCommitted to significantly deleverage the business in the coming yearsAims to generate positive free cash flows for last three quarters of the yearJLR will continue to manage costs and investment spending rigorouslyVolumes may not pick-up sufficiently to generate a profit in Q2FY21.Brokerage firm Kotak Securities has maintained a sell rating on the stock with a price target of Rs 90. It says that a substantial pick-up in volumes is essential for the company's return to profitability.However, Edelweiss has maintained its buy rating on the stock and raised its price target to Rs 141 from Rs 127. It has cited JLR's upcoming product pipeline and peak of its capex cycle as some key factors.Shares gained as much as 8.5% to Rs 113.5. It is trading at the highest level in two months and is also the top performing stock on the Nifty 50 index..34.56 crore shares of the private lender exchanged hands in 27 large trades, as per Bloomberg data.The total number of shares sold amounts to 21.5% of the bank's total equity.Bandhan Financial Holdings, the promoter of the bank intended to sell shares for a total sum of $1.4 billion, as per the term sheet.The floor price of Rs 311 per share was at a 9.9% discount to Friday's closing price.Shares fell as much as 9.3% to Rs 313.1. This was the biggest single-day fall in the stock in over three months. It is also the worst performing stock on the Nifty Bank index..Indian equity markets have begun the new trading month on a subdued note, as markets react to corporate earnings and auto sales for the month of July.The S&P BSE Sensex opened unchanged at 37,595 while the NSE Nifty 50 index opened 0.14% lower at 11,057.Among sectoral indices, the Nifty Bank index has opened 0.5% lower while the Auto index has gained 0.6% at the start of trade. Other sectoral indices are flat.Its a muted start to trade for the broader markets as well. The midcap index opened 0.2% higher while the smallcap index gained 3%.Market breadth has opened in favour of the advances. 848 stocks on the NSE opened with gains while 629 opened in the red..Global cases cross the 18 million markDeath toll rises to 6.88 lakhAustralia's Victoria tightens restrictions and declared a state of disasterPhilippines reimposes lockdown in ManilaTotal cases in Argentina cross 2 lakh with 5,376 new infectionsTexas does not report Sunday's cases, citing system upgradesCalifornia reports 9,032 new cases, exceeding its 14-day averageU.K. considers London-wide lockdown if cases continue to spike.How Max Life Insurance Fine-Tuned Its Investment Model Amid Pandemic.FPIs Remain Net Buyers For Second Straight Month In July.AIIB In Discussion With India For Financing Of $8-Billion Health Infrastructure Scheme.Tata Motors: Says that it may not be able to witness a substantial pick-up in volumes so that it can post a profit in the second quarter of FY21. The Passenger vehicle maker reported its seventh loss in nine quarters as Covid-19 dented sales both in India and overseas.UPL: Strong growth in its India and the Rest of the World business contributed to a healthy operational performance. The company said it has strong liquidity in place to meet its debt maturities over the next 18-24 months.Bandhan Bank: Promoter Bandhan Financial Holdings intends to sell 33.7 crore shares in a block deal as per the term sheet. The floor price of Rs 311 per share is a 9.9% discount to Friday's closing price. The promoters intend to raise over 10,000 crore or over $1.4 billion from the stake sale.IRB Infra: Gets Letter of Award from NHAI for Hybrid Annuity Project under Bharatmala Pariyojana for a Rs 1,241.8 crore project. The project involves construction of eight-lane controlled expressway of Vadodara-Mumbai expressway in Gujarat for a 27 km stretch.Coal India: Production for the month of July down 3% to 37.36 MT. Offtake down 6.9% to 43.39 MT. Comparison is on a year-on-year basis.Cadila Healthcare: Gets tentative approval from the U.S. FDA to market Carbidopa and Levodopa Extended-Release Capsules. The drug is used in the treatment of Parkinson's disease. The drug will be manufactured at its manufacturing facility in SEZ, Ahmedabad.Non-Nifty Earnings Today: Bank of India, BSE, Exide Industries, Kansai Nerolac, KPIT Tech, MRPL, VST Industries.To know more about companies that reported earnings after market hours, auto sales for the month and key brokerage updates, click here..Good Morning!The six-week surge for India's benchmark indices came to a halt on Friday with both Sensex and the Nifty losing more than 1% each.Again, the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.55% to 11,043 as of 8:05 a.m. on Monday.Automakers have been reporting their monthly sales numbers. Two-wheeler maker Bajaj Auto will be announcing sales figures on Monday.Among those that already declared, Maruti Suzuki's sales — though flat compared to the previous month — were ahead of the estimates. Sales of Hero MotoCorp, Mahindra & Mahindra, too, surpassed expectations.While no Nifty 50 company will report quarterly earnings on Monday, non-index names like Kansai Nerolac, Bank of India and Exide Industries are set to announce.Nifty 50 companies like Tata Motors and UPL and non-index names like Vinati Organics, Godrej Agrovet, Relaxo Footwear that declared their first-quarter results after market hours on Friday will remain in focus.Across the globe, Asian markets have begun the new month of trade on a mixed note. Markets in Japan are advancing, while those in Hong Kong and Australia are lower.West Texas Intermediate crude fell 0.7% to $40 per barrel, while gold was flat at $1,975/Oz.

Sensex, Nifty End Near Day’s Low; Financials, RIL Top Laggards

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