View on market: Stay Cautious, be with quality business:

US futures fluctuated after the S&P 500 and Nasdaq 100 gave up intraday gains to end in the red. Stocks in Asia got a lift from Japan on Friday while Treasuries were mixed as investors evaluated how far the Federal Reserve must jack up interest rates to ensure high inflation keeps cooling. Elsewhere, oil gained as fears of a slowdown in demand eased after IEA lifted consumption estimates. Gold fluctuated and Bitcoin went above $24,000. Back home, India’s stock benchmarks closed higher after softer-than-expected U.S. inflation print raised expectations that the Federal Reserve will hike interest rates at a slower pace. The local currency depreciated against the U.S. dollar on Thursday amid rising crude oil prices.

Economic Calendar:

  • USD : Import Price Index (MoM) (Jul) 12th Aug, 2022
  • USD : Import Price Index (MoM) (Jul) 12th Aug, 2022
  • INR : Trade Balance 12th Aug, 2022
  • INR : CPI (YoY) (Jul) 12th Aug, 2022

Q1FY23 Result Today: ONGC, LIC, Hero MotoCorp, Grasim Industries, Divis Labs, Zee Entertainment, Aegis Logistics, Ahluwalia Contracts, Apollo Tyres, Astral, Bajaj Electricals, Bajaj Healthcare, Bajaj Hindusthan Sugar, Balaji Amines, Bharat Dynamics, Campus Activewear, Dilip Buildcon, Dhani Services, Finolex Cables, Godrej Industries, Hindustan Aeronautics, Indiabulls Real Estate, India Cements, Info Edge

Q1FY23 Result:

Aurobindo Pharma Q1 FY23 (Consolidated, YoY) reported a 32.4% YoY growth in consolidated profit at Rs 520.4 crore for the quarter ended June FY23, impacted by lower other income and operating income. Revenue grew by 9.4% to Rs 6,236 crore compared to year-ago period, with US formulations business increasing 10.8%, but Europe formulation business fell 2.2% mainly due to euro currency depreciation.

KNR Constructions Q1 FY23 (Consolidated, YoY) registered a 20.3% YoY decline in consolidated profit at Rs 89.61 crore for the quarter ended June FY23, impacted by tepid growth in operating income and higher raw material cost. Revenue grew by 21.5% to Rs 980.45 crore and EBITDA increased by 4.2% to Rs 211.25 crore compared to year-ago period.

Apollo Hospitals Q1 FY23 (Consolidated YoY) reported a 35.3% YoY decline in consolidated profit at Rs 323.8 crore for the June FY23 quarter on a high base. Revenue increased by 0.94% to Rs 3,795.60 crore compared to corresponding period last fiscal.

Brokerage Radar:

UBS ON BHARAT FORGE: Maintain BUY, TP Rs 900; Q1FY23 Standalone EBITDA beat consensus by 8-9%; Outlook remains relatively strong; Global CV expected to fell atleast until the end of CY23; Margin performance one of the best among the auto components; Will beneft from fomestic CV demand recovery & strong export outlook

CS ON CUMMINS: Maintain OP, TP Rs 1475; Continue to look attractive even for modest cyclical pay; Supply chain issue still persist; Revise Earnings by +1%/9% for FY23/24; Stock continue to look attractive at 30x FY24E

JEFFERIES ON TRENT: Maintains Hold, TP 1300, Witnessed sharp growth in Revenue in Q1, much ahead of estimates; 3 year revenue CAGR at 30% is impressive; Gross Margin declines as intensity in discounting and promotions returned; Revise estimates by 7-9%

International Markets:

U.S & Europe:

Particulars      11th August Chg. Chg.(%)
Nasdaq 12779.91 -74.90 -0.58
Dow 33336.67 27.16 0.08
FTSE 7465.91 -41.2 -0.55
CAC 6544.67 21.23 0.33
DAX 13694.51 -6.42 -0.05
Dow Fut.* 33352.1 15.40 0.05

Asian markets:

Particulars      11th August Chg. Chg.(%)
SGX Nifty 17696 7.50 0.04
Nikkei 28479.99 660.66 2.37
Straits Times 3268.38 -33.58 -1.02
Hang Seng 20054.38 -28.05 -0.14
Shanghai 3281.67 0.00 0

ADR Watch:

Particulars     11th August  Chg.       Chg.(%)
Dr. Reddy 53.12 -0.34 -0.64
HDFC Bank 65 -0.27 -0.41
ICICI Bank 21.89 -0.15 -0.68
Infosys 20.15 -0.23 -1.13
Tata Motor 29.76 -1.08 -3.5
Wipro 5.43 -0.04 -0.73

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR  79.64  0.14
Brent 99.19 -0.41
Gold  1804.00  -0.18
Silver 20.28   -0.34

FIIs & DIIs:

Particulars 11th August 10th August
FIIs                           2298.08  1061.88
DIIs  -729.56  -768.45

News Update:

Sterling and Wilson Renewable Energy: Promoter Shapoorji Pallonji will offload 1.25% stake in the company via offer for sale. The floor price is Rs 270 apiece.

Voltas: Life Insurance Corporation raised its stake in the company to 6.86% from 4.83%.

Balaji Amines: Subsidiary, Balaji Speciality Chemicals, has filed a draft red herring prospectus with the Sebi for fund raising via initial public offering. The offer consists of a fresh issue of equity shares worth Rs 250 crore and an offer for sale of 2.6 crore shares by certain existing and eligible shareholders

Source: Moneyontrol, Livemint,, Bloomberg, Investing

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