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

Asian stocks followed Wall Street lower at the open Wednesday as a rout in China spurs caution and U.S. megacap technology earnings receive a mixed response.Equities slipped modestly in Japan, Australia and South Korea. Futures rose in Hong Kong, but investors remain wary after stocks there plunged on a regulatory crackdown that’s stirring questions about how far Beijing will go to curb big companies.The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.12% at 15,761.50 as of 7:35 a.m.

Key Data/ Action, Result, and Board meeting to watch

Major economic Data:

  • INR: Deposit growthon 30th July, 2021
  • INR: Infrastructure output (YoY) on 30th July,2021
  • USD: Crude oil Inventorieson 28th July,2021
  • USD: Fed Interest Rate Decision on 28thJuly,2021

Earnings:Maruti Suzuki India, Nestle India, IDBI Bank, United Breweries, Central Bank of India, Coforge, Oracle Financial Services Software, Embassy Office Parks REIT, Happiest Minds Technologies, ABB India, SRF, Mahanagar Gas, Apcotex Industries, JM Financial, Route Mobile. UTI Asset Management Company, Wabco India, Welspun India, Century Textiles & Industries, Tata Coffee,  Geojit Financial Services, Heritage Foods, HSIL, ICRA, Mahindra Lifespace Developers, Mold-Tek Packaging, RadicoKhaitan, TCI Express,

International Markets:

U.S & Europe

Particulars 27thJuly. Chg Chg(%)
Nasdaq 14,660.58 -180.13 -1.21
Dow 35058.52 -85.79 -0.24
FTSE 6,996.08 -29.35 -0.42
CAC 6,531.92 -46.68 -0.71
DAX 15,519.13 -99.85 -0.64
Dow Fut.* 34,930.00 -23 -0.07

Asian markets:

Particulars 28thJuly. Chg Chg(%)
SGX Nifty 15,761.50 18.5 0.12
Nikkei 27,689.65 -280.57 -1
Straits Times 3,145.08 6.27 0.2
Hang Seng 25,290.87 204.44 0.81
Shanghai 3,324.95 -56.23 -1.66

ADR Watch:

Particulars 27thJuly. Chg Chg(%)
Dr Reddy 63.62 -8.99 -12.38
HDFC Bank 69.78 -0.59 -0.84
ICICI Bank 18.17 -0.19 -1.03
Infosys 21.71 0 0
Tata Motor 19.27 -0.43 -2.18
Wipro 8.35 -0.01 -0.12

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR  74.46 0.06
Brent 73.80 0.38
Gold 1800.90 0.06
Silver 24.698 0.20

FIIs & DII

Particulars 27th July. 26th July.
FIIs -1459.08 -2376.79
DIIs 729.96 1551.27

Results:

Granules India Q1FY22 (Consolidated, QoQ): Revenue up 6% at Rs 849.84 crore Vs Rs 799.31 crore Net profit down 6% at Rs 120.20 crore Vs Rs 127.56 crore Ebitda flat at Rs 201.42 crore Vs Rs 201.99 crore Margins at 23.7% Vs 25.3% Declared first interim dividend of 0.25 paise per share Growth was driven by new launches and increased market share for existing products.

IndusInd Bank Q1FY22 (Consolidated): Net Profit up 99.2% at Rs 1,016 crore Vs Rs 510 crore (YoY) (Bloomberg estimate: Rs 802 crore) NII up 7.7% at Rs 3,564 crore Vs Rs 3,309 crore (YoY) (Bloomberg estimate: Rs 3,569 crore) GNPA at 2.88% Vs 2.67% (QoQ) NNPA at 0.84% Vs 0.69% (QoQ) Provisions down 1.6% at Rs 1,844 crore Vs Rs 1,865.59 crore(QoQ) Added Rs 2,762 crore worth bad loans.

Brokerage Radar:

CS on Dr. Reddy’s:Downgrade to Neutral, Cut Target from Rs5200/Share to Rs.4900/share. Higher cost base. Lower option value from sputnik V limits upside.

CLSA on IndusInd Bank: Maintain Buy for the target price of Rs.1350/Share. Delivering on granularity and stability. On relative basis, asset quality performance seemed manageable. IIB has been through a tough consolidation period. Management now intends to focus on growth.

News Update:

Filatex India: To increase polycondensation capacity by 50 TPD and put-up additional manufacturing facilities for 120 TPD of Polyester Partially Oriented Yarn at Dahej plant. The company presently has polycondensation capacity of 1,050 TPD. The expansion will cost company Rs 130 crore and is expected to be completed in 12 months.

KPR Mill: Approved sub-division of one equity share of Rs 5 each fully paid-up into five equity shares of Re 1 each fully paid up, subject to the approval of the members of the company.

Larsen & Toubro:The company’s board has approved the amalgamation of its wholly-owned arm L&T Hydrocarbon Engineering Ltd with the parent firm.

Torrent Pharma:The company’s net profit in Q1FY22 rose 2.8 percent to Rs 330 crore from Rs 321 crore, while revenue increased 3.8 percent to Rs 2,134 crore from Rs 2,056 crore, YoY.

Cyient: The company has signed a definitive agreement to acquire a 100 percent stake in WorkForce Delta (WFD), a global consultancy company,

Pidilite Industries:The company’s subsidiary Madhumala Ventures will make a further investment of Rs 14.96 crore in Aapkapainter Solutions Pvt Ltd to increase its stake to 47 percent from 28.89 percent.

RITES: Secured a road sector consultancy work order of Rs 19.10 crore from National Highways and Infrastructure Development Corporation.

GMR Infrastructure: Groupe ADP and GMR Group have executed industrial partnership, demonstrating their intent to cooperate with each other and a shared global vision for the airport sector.

Source: Moneycontrol,Livemint,, Bloomberg,Investing

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