View on market: Volatility persists, eagerly searching for growth

Asian markets opened without clear direction as investors reacted cautiously to a choppy session on Wall Street. Concerns over the future of the US Federal Reserve Chair affected sentiment. While Japanese markets showed mixed performance, South Korean and Hong Kong markets saw slight declines. Meanwhile, Australian stocks edged up. In India, benchmark indices ended mostly unchanged. Gains in major companies like Infosys, Mahindra & Mahindra, and State Bank of India helped the markets recover from early losses. Despite weakness across broader Asian markets due to rising US inflation, Indian stocks found some strength by the end of the day. European markets opened positively, supported by better investor sentiment and strong regional performance. Futures showed signs of confidence as trading began. In the United States, stocks had a volatile day but ended near record highs. Traders were focused on speculation around possible changes in Federal Reserve leadership. Tech stocks helped push the Nasdaq to another record, while the Dow also ended the day stronger.

Key Quarterly Results for Today:

360ONE, ABMKNO, ALOKINDS, AXISBANK, CLEAN, CEATLTD, HDFCAMC, HERITGFOOD, INDBNK, INDHOTEL, INTEGRAEN, JUPITERIN, JIOFIN, LTIM, MSRINDIA, NEWGEN, NAVKARCORP, PRATIKSH, POLYCAB, SOUTHBANK, SUNGOLD, SWSOLAR, TATACOMM, VIMTALABS, WAAREERTL, WIPRO.

Economic Calendar:

• USD: Initial and Continuing Jobless Claims Data on 17^th July 2025.
• IND: Bank Loan and Deposit Growth Rate on 18^th July 2025.
• USD: Retail Sales Data on 17^th July 2025.
• IND: Foreign Reserves USD on 18^th July 2025.

IPO Watch:

Brokerage Radar:

JEFFERIES ON ITC HOTELS:

Maintain Buy; Hike TP to Rs 270 from Rs 240, Healthy beat; positive surprise across, Robust growth in RevPAR owing to scale-up in Sri Lanka project and higher other income, Q1 also saw post demerger additional overhead Costs.

MORGAN STANLEY ON L&T TECH:

Maintain Equal-weight; Hike TP to Rs 4500 from Rs 4300, Results were in-line with our expectations, Done well on deal wins in the past three quarters and is hopeful of revenue conversion going forward, Margin recovery could be gradual.

MACQUARIE ON TECH MAHINDRA:

Maintain Underperform; Hike TP to Rs 1110 from Rs 1090, EBIT margin in line excluding 18 bps one-time gain, Continues to lag peers in growth in key verticals, Continue to believe that the goals of getting to 15% EBIT margin and peer group average growth by FY27E are a very tough ask.

INVESTEC ON ANGEL ONE:

Maintain Buy with TP of Rs 2700, Q1 better than expectations, PAT beat led by lower cost compared to our estimates, Earnings growth to improve QoQ, Seeing traction in new initiatives; however just 3% of revenue.

International Markets:

U.S & Europe:

*As per 17^th July.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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