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

Stocks and US equity futures fell Thursday after sizzling US inflation data buffeted Wall Street, hardening bets on more aggressive Federal Reserve monetary policy tightening and an ensuing economic downturn. An Asian share gauge dipped, led by Japan, while S&P 500 and Nasdaq 100 contracts shed about 0.5%. A volatile US session ended with modest losses, a resilience possibly rooted in speculation over whether the 9.1% consumer-price reading marks the peak.

Economic Calendar:

  • INR: WPI Inflation 14th July 2022.
  • INR: Trade Balance 15th July 2022.
  • USD: Industrial Production 15th July, 2022.
  • USD: Initial Jobless Claim 14th July, 2022.

Q1FY23 Result Today: ACC, Angelone, Tataelexi

Q1FY23 Result

Mindtree Q1 FY23 (Consolidated, QoQ) reported a 37.3% year-on-year growth in its consolidated net profit at ₹471.6 crore for the quarter ending 30 June, 2022 as compared to ₹343.3 crore in the same quarter last year.

Tata Metaliks Q1 FY23 (Consolidated, QoQ) posted a 30 per cent fall in its net profit to Rs 52.46 crore for the quarter ended March owing to increased expenses. The company had clocked a Rs 74.99 crore net profit during January-March period of preceding 2020-21 fiscal.

Brokerage Radar:

NOMURA ON MINDTREE: Neutral, TP raised to Rs 2910 Bucking trend with margin stability Headcount increase signals strong growth will continue 1QFY23 deliver a beat on all parameters Raise FY23-24F EPS by 2-3%

JEFFERIES ON MINDTREE: U-P, TP Rs 2490 1Q beat est led by strong margin delivery on back of lower employee costs Deal wins at US$570m were at an all-time high Management reiterated strong demand for 1HFY23

CITI ON HINDUSTAN ZINC : Neutral, TP cut to Rs 255 from Rs 330 HZL’s valuations appear inexpensive at 5.5x 1-yr fwd EV/EBITDA Further, 13 July interim dividend announcement of Rs21/sh augurs well That said, think stk may be range-bound

International Markets:

U.S & Europe:

Particulars      13th July    Chg Chg(%)
Nasdaq 11,247.58  -17.15 -0.15
Dow 30,772.79 -208.54 -0.67
FTSE 7,156.37 -53.49 -0.74
CAC 6,000.24 -43.96 -0.73
DAX 12,756.32 -149.16 -1.16
Dow Fut.* 30,728.50 -44.3 -0.14

Asian markets:

Particulars    14th July    Chg. Chg(%)
SGX Nifty 15,945.50 -20.0 -0.13
Nikkei 26,664.20 185.43 0.70
Straits Times 3,116.01 -11.17 -0.36
Hang Seng 20,754.71 5.94  0.03
Shanghai 3,279.00 -3.32 -0.10

ADR Watch:

Particulars     13th July Chg. Chg.(%)
Dr Reddy 55.84 0.57 1.03
HDFC Bank 57.25 -1.42 -2.42
ICICI Bank 18.74 -0.20 -1.06
Infosys 18.11 -0.10 -0.55
Tata Motor 26.62 -0.51 -1.88
Wipro 5.11 -0.01 -0.20

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 79.63  0.04
Brent 100.22 0.62
Gold 1730.00 -0.26
Silver 19.11 -0.41

FIIs & DII:

Particulars    13th July    12th July
FIIs -2,839.52 -1565.68
DIIs 1,799.22  140.71

News Update:

Hindustan Zinc: The company said the board has approved an interim dividend of Rs 21 per equity share for the financial year 2022-23 amounting to Rs 8,873.17 crore. The record date for payment of interim dividend is July 21.

Tata Power Company: The company said its subsidiary TP Saurya has received the ‘letter of award’ from Solar Energy Corporation of India (SECI). The company will set up 600 MW hybrid (wind and solar) power project for SECI in Karnataka. The project will be commissioned within 24 months from the PPA execution date..

Mazda: The company has constructed a new factory for food division at Changodar, Gujarat and commenced initial phase of production..

NHPC: The government has accorded an investment approval for pre-investment activities for Sawalkot HE project (1856 MW) in Union Territory of Jammu & Kashmir for an amount of Rs 973 crore at November 2021 price level. The project is being implemented by NHPC.

Duroply Industries: Some 26 investors, including Porinju Veliyath, and Ashish Chugh, will take stake in the company. The company said its board has approved issuance of up to 10.33 lakh equity shares to one promoter and 25 investors via preferential issue, at a price of Rs 126 per share, and also 11.91 lakh warrants to promoters. The total fund raising via equity shares will be Rs 13.02 crore and Rs 15 crore via issuing warrants.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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