Market View 3rd August 2022

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

Stocks fell in Asia on Wednesday and the dollar climbed as investors evaluated heightened US-China tension and hawkish Federal Reserve comments. Shares were mixed in Japan and fell in South Korea and Australia. S&P 500 and Nasdaq 100 futures slipped after a dip in Wall Street shares on Tuesday. Hong Kong contracts earlier pointed to the bourse there unwinding some of the losses sparked by worries over US House Speaker Nancy Pelosi’s Taiwan visit. At 7:20 am, the Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 — traded 0.29% higher at 17,375 points. Elsewhere, oil fell below $94 a barrel as traders counted down to an OPEC+ crude production meeting. Gold retreated and Bitcoin dropped under $23,000

Economic Calendar:

• USD : ISM Non-Manufacturing PMI (Jul) 03^rd Aug, 2022
• USD : Nonfarm Payrolls (Jul) 5^th Aug, 2022
• INR : Interest Rate Decision 05^th Aug, 2022
• INR : CPI (YoY) (Jul) 12^th Aug, 2022

Q1FY23 Result Today: Lupin, Adani Power, InterGlobe Aviation, Vodafone Idea, Godrej Consumer Products, Aditya Birla Capital, Adani Transmission, Adani Wilmar, BASF India, Birlasoft, Chambal Fertilisers, Devyani International, Firstsource Solutions, Gujarat Gas, Inox Leisure

Q1FY23 Result:

Adani Green (Consolidated, YoY) reported a 2.3% YoY decline in consolidated profit at Rs 214 crore for the quarter ended June 2022, dented by lower other income, and forex loss. Revenue grew by 58% YoY to Rs 1,701 crore during the same period.

Gravita IndiaQ1 FY23 (Consolidated, YoY) recorded a massive 98% YoY growth in consolidated profit at Rs 44.65 crore for the June FY23 quarter, largely driven by other income. Revenue increased by 30% to Rs 580 crore during the same period.

Voltas Q1 FY23 (Consolidated, YoY) registered a 10% year-on-year decline in profit at Rs 110 crore for the quarter ended June 2022 dented by other income. Revenue grew by 50% YoY to Rs 2,795 crore during the same period largely driven by unitary cooling products segment that grew 125% YoY.

Lemon Tree Hotels Q1 FY23 (Consolidated, YoY) recorded consolidated profit at Rs 13.57 crore in Q1FY23, against loss of Rs 59.8 crore in year-ago period. Earnings in Q1FY13 were affected by second Covid wave. Revenue grew by 356% YoY to Rs 192 crore for the quarter.

Brokerage Radar:

NOMURA ON SIEMENS: Results below est on margin miss; Profitability hit by high other expenses even as gross margins are stable; Order inflow growth materially weaker against reset expectations; Execution beat led by gas & power & digital industries.

MAC ON THERMAX: O-P, TP Rs 2300; Mixed results: Strong order inflow offset by weak margin performance; Order backlog provides visibility, but margin improvement is key; EBITDA margins came in at 5.8% vs expectation of 6%.

CLSA ON VOLTAS: Sell, TP Rs 930; 1Q: Market share regained, at cost of margins; 1Q below est on weak margins, while rev growth of 55% YoY (3-yr Cagr: 1%) largely in-line; Gross & Ebitda margin fell sharply YoY & QoQ, reflecting heightened competitive intensity & cost pressure

International Markets:

U.S & Europe:

Asian markets:

ADR Watch:

Commodities & Currency:

FIIs & DII:

News Update:

ITC: has exited its lifestyle retailing business following a strategic review of its business portfolio.

Subex: Jio Platforms announced a partnership with Subex for its AI Orchestration Platform, HyperSense, which can enable telcos to deliver on the promise of AI across the data value chain.

Aurobindo Pharma: The API non-antibiotic manufacturing facility in Andhra Pradesh has received a ‘Form 483’ with three observations, but none of these observations are related to data integrity.

  Source: Moneyontrol, Livemint,, Bloomberg, Investing

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