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

Asian stocks were mostly lower Tuesday amid concerns that the upcoming earnings season, a looming U.S. inflation print and China’s struggle with Covid will stoke worries about economic prospects. The U.S. dollar rose the most in a month to rise to an over 2-year high, spurring the Euro to close in on parity, amid gas shortage and fears of economic recession. Japan led the regional decline, while Hong Kong futures were also in the red following the worst drop in U.S.-traded Chinese shares since May. U.S. contracts wavered after technology shares led a Wall Street slide, including a plunge in Twitter Inc. as Elon Musk walked away from his deal to buy the firm. As of 7:30 a.m., the Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 — fell 0.70% to 16,085.50.  Treasuries extended gains, taking the US 10-year yield to 2.98%. Crude oil shed 1%. Bitcoin dropped back below the $20,000 level.

Economic Calendar:

  • INR: WPI Inflation 14th July 2022.
  • INR: IIP Data 12th July 2022.
  • USD: OPEC Monthly Report 12th July, 2022.
  • USD: Core CPI 13th July, 2022.

Q1FY23 Result Today: HCL Technologies, Sterling and Wilson Renewable Energy, National Standard (India), Delta Corp, Anand Rathi Wealth

Q1FY23 Result

Spandana Sphoorty: Financial Q4 FY22 (Consolidated, YoY) Revenue fell 39% at Rs 286.82 crore Vs Rs 473.91 crore EBIT fell 33% at Rs 133.45 crore Vs Rs 198.85 crore EBIT margin 46.5% Vs 42% Net profit fell 42% at Rs 28.44 crore Vs Rs 49.06 crore

5 Paisa Capital Q1FY23 (QoQ) Revenue at Rs 84 crore vs Rs 88 crore Profit before tax at Rs 10 crore vs Rs 6 crore Net profit at Rs 7 crore vs Rs 4 crore

Brokerage Radar:

CLSA ON ACC/AMBUJA: Expect both to U-P following conclusion of open offer Ambuja/ACC are +2%/-3% over past 3 mths vs peers down 11%-21% & Nifty down 8%, due to acquisition by Adani Group Post-open offer focus will shift to near-term fundamentals ACC-TP Rs 2300 Ambuja- TP Rs 375.

CLSA ON APOLLO HOSPITAL: O-P, TP Rs 4470 Management reiterated its mid-teen rev growth guidance for hospitals through a mix of ARPOB growth & increased occupancies Its offline pharmacy has potential to grow rev c.20% YoY & its cash flows will help to invest in its digital biz
CREDIT SUISSE ON STAR HEALTH: O-P. Tp Rs 600 Continue to believe Star’s large & growing agent base (3x of next life/GI player) & hospital network (12,000+) with pricing arrangements provide a partial moat &keeps it better placed to withstand competitive pressures.

KOTAK INST EQUITY ON NMDC: Reduce, TP Rs 105 NMDC has cut its prices by 36% in May-June 2022 on imposition of export duty and we expect further weakness given a 20% correction in seaborne iron ore prices in past one month, Sales vol have significantly contracted in 1QFY23, led by destocking by consumers, & likely to recover in 2HFY23E Believe recent stock underperformance captures sharp margin contraction from 2QFY23E onwards

International Markets:

U.S & Europe:

Particulars      11th June    Chg Chg(%)
Nasdaq 11,372.60 -262.71 -2.26
Dow 31173.84 -164.31 -0.52
FTSE 7,196.59 0.35 0
CAC 5,996.30 -36.83 -0.61
DAX 12,832.44 -182.79 -1.4
Dow Fut.* 31003.0 -170.8 -0.54

Asian markets:

Particulars    12th July    Chg. Chg(%)
SGX Nifty 16,075.50 -123 -0.76
Nikkei 26,362.76 -449.54 -1.68
Straits Times 3,135.48 4.22 0.13
Hang Seng 20,971.97 -152.23 -0.72
Shanghai 3,308.78 -4.8 -0.14

ADR Watch:

Particulars     11th June Chg. Chg.(%)
Dr Reddy 55.84 0.57 1.03
HDFC Bank 59.3 -0.46 -0.77
ICICI Bank 19.19 -0.06 -0.31
Infosys 18.46 -0.6 -3.15
Tata Motor 27.26 -0.64 -2.29
Wipro 5.15 -0.11 -2.09

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 79.44 0.24
Brent 105.66  -1.45
Gold 1733.0 -0.08
Silver 19.030 -0.53

FIIs & DII:

Particulars         11th June         08th June
FIIs -170.51                    -109.31                   
DIIs  -296.99  34.61

News Update:

Eureka Forbes: The company appointed Pratik Pota as Managing Director and Chief Executive Officer for a term of five years effective from August 16. The appointment was made following current MD and CEO Marzin R Shroff’s resignation.

Star Health and Allied Insurance: The company has partnered with Common Services Centers, under Ministry of Electronics & Information Technology, to expand the insurance products to rural customers, across tier-II, tier-III cities and rural markets pan India.

Power Grid: The company has placed B.S. Jha under suspension with effect from July 5 after his arrest by CBI. The company said that it was not aware of any negotiations and that there is no material impact on the company.

Borosil Renewables: The company will consider fund raising through further public offer, issuance of American Depository Receipts or Global Depository Receipts, issuance of Foreign Currency Convertible Bonds, qualified institutions placement or through a combination on July 14.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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