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

Stocks fell in Asia on Friday as the dollar held a surge that underscores concerns about a global economic slowdown as monetary policy tightens to tackle inflation. S&P 500 and Nasdaq 100 futures edged up after Wall Street shares closed off lows as expectations of a 100 basis-point US interest-rate hike in July receded. Growth fears are putting pressure on commodities ranging from metals to crude oil, which remains around $96 a barrel.

Economic Calendar:

  • INR: Bank Loan Growth 15th July, 2022
  • INR: Trade Balance 15th July 2022.
  • USD: Industrial Production 15th July, 2022.
  • USD: Core Retail Sales 15th July, 2022

Q1FY23 Result Today: JindalSteel&Power, Federal Bank, LTTS

Q1FY23 Result

Tata Elexi Q1 FY23 (Consolidated, YoY) reported a 63% year-on-year growth in its consolidated net profit at ₹184.7crore for the quarter ending 30 June, 2022 Revenues from operations at Rs 725.9 crore grew by 30 percent YoY and EBITDA increased 58.8 percent YoY to 238.2 crore in Q1FY23.

ACC Q1 FY23 (Consolidated, YoY) posted a 60% on-year decline in consolidated profit at Rs 227 crore in quarter ended June 2022 dented by rising global fuel costs and related inflationary impacts. EBITDA fell 51 percent YoY to Rs 426 crore and margin declined by 1,310 bps to 9.7 percent in Q2CY22. Revenue increased by 15 percent YoY to Rs 4,393 crore with cement sales volumes up 10.5 percent at 7.56 million tonnes and ready mix concrete sales volumes up 43.1 percent at 0.83 million cubic metres.

Angel One Q1 FY23 (Consolidated, YoY) reported a healthy 46.5 percent year-on-year growth in consolidated profit at Rs 181.50 crore for the quarter ended June 2022, backed by strong topline. Revenue grew by 45 percent YoY to Rs 669.8 crore in Q1FY23 with healthy growth in fees and commission income, and interest income.

Brokerage Radar:

CITI ON ACC: Buy, TP Cut to Rs 2460 from Rs 2720 2Q Slightly Below; Costs Likely at Their Peak ACC’s current val (EV/t $105) together with upsides from potential synergies with Adani Group make it an attractive bottom-up play

UBS ON ACC: : Downgrade to N, TP cut to Rs 2286 2Q CY22 EBITDA declined 51% YoY, marginal 2% beat 1-qtr delay in growth & cost efficiency projects modest upside capped by lack of near-term earnings tailwinds Reduce CY22E/23E est by 29%/10%

NOMURA ON LTI: Reduce, TP Rs 3680 Modest beat in 1QFY23 Robust headcount addition continues Rev growth tad below consensus, strong outlook for 2QFY23F EBIT beats expectations led by non-recurrence of license fees and higher forex

International Markets:

U.S & Europe:

Particulars 14th July Chg. Chg.(%)
Nasdaq 11,251.18 3.60 0.03
Dow 30,630.17 -142.62 -0.46
FTSE 7,039.81 -116.56 -1.63
CAC 5,915.41 -84.83 -1.41
DAX 12,519.66 -236.66 -1.86
Dow Fut.* 30,688 84.00 0.27

Asian markets:

Particulars 15th July Chg. Chg.(%)
SGX Nifty 15,998 64.50 0.40
Nikkei 26,797.47 154.08 0.58
Straits Times 3,099.29 8.66 0.28
Hang Seng 20,650.86 -100.35 -0.48
Shanghai 3,287.99 6.25 0.19

ADR Watch:

Particulars 14th July Chg. Chg.(%)
Dr. Reddy 55.84 0.57 1.03
HDFC Bank 57.02 -0.23 -0.40
ICICI Bank 18.89 0.15 0.80
Infosys 17.90 -0.21 -1.16
Tata Motor 26.92 0.30 1.13
Wipro 5.01 -0.10 -1.96

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 79.88 0.31
Brent 100.23 1.17
Gold 1710.60 0.30
Silver 18.302 -0.41

FIIs & DII:

Particulars 14th July 13th July
FIIs 309.06 -2,839.52
DIIs -556.40 1,799.22

News Update:

Cipla: Subsidiary Cipla Health has signed definitive agreements for acquisition of Endura Mass, a nutritional supplement brand in the category of weight gain from Medinnbelle Herbalcare Private Limited. Endura and all other associated trademarks would be part of the acquisition.

Syngene International: The company has signed 10-year biologics manufacturing agreement with leading animal health company, Zoetis. It will manufacture the drug substance for Librela (bedinvetmab), a monoclonal antibody used for treating osteoarthritis in dogs. Syngene’s collaboration with Zoetis has started in 2011.

Uti Asset Management : Today is the Ex-dividend date for UTI AMC Stock.

Source: Moneyontrol, Livemint,, Bloomberg, Investing

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