Market View 5th August 2022

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

Asian equities rose amid slew of earnings and decisions from central banks to tackle inflation. Shares gained in Japan, South Korea and Australia. US futures were volatile after the S&P 500 ended little changed. At 7:20 am, the Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 — traded 0.30% higher at 17,449.50 points. The West Texas Intermediate crude was at $88.48 a barrel, down 0.1%

Economic Calendar:

• USD : Nonfarm Payrolls (Jul) 5^th Aug, 2022
• USD : Unemployment Rate (Jul) 5^th Aug, 2022
• INR : Interest Rate Decision 05^th Aug, 2022
• INR : CPI (YoY) (Jul) 12^th Aug, 2022

Q1FY23 Result Today: Titan Company, Engineers India, NMDC, FSN E-Commerce Ventures (Nykaa), IRB Infrastructure Developers, One 97 Communications, Petronet LNG, Aditya Birla Fashion and Retail, Alkem Laboratories, Pfizer, Raymond, CAMS, Fortis Healthcare, Greenply Industries, Minda Corporation, Indigo Paints, Motherson Sumi Wiring India, UCO Bank, Zensar Technologies

Q1FY23 Result:

Gujarat State Petronet Q1 FY23  (Consolidated, YoY) reported 11% YoY decline in consolidated profit at Rs 648.16 crore for the quarter ended June, dented by higher input cost. Revenue grew 63% to Rs 5,670 crore for the quarter.

Glenmark Life Sciences Q1 FY23 (Consolidated, YoY) reported 7.7% YoY growth in profit at Rs 108.73 crore for the quarter ended June 2022, supported by margin performance. Revenue from operations at Rs 489.87 crore for the quarter, a 6.7% decline YoY due to high base of COVID products sales last year.

REC Q1 FY23 (Consolidated, YoY) clocked 8.2% YoY increase in consolidated profit at Rs 2,454.2 crore for the quarter ended June, partly due to a decline in impairment on financial instruments. Revenue declined 0.55% to Rs 9,497.5 crore for the quarter.

Dalmia Bharat Q1 FY23 (Consolidated, YoY) registered a 26.8% YoY decline in profit at Rs 205 crore for the quarter ended June 2022 impacted by lower operating performance, as there was increase in power & fuel cost and freight charges. Revenue increased by 27.4% YoY to Rs 3,302 crore and EBITDA fell by 17.8% to Rs 586 crore for the June FY23 quarter.

Brokerage Radar:

MACQUAIRE ON BERGER PAINTS: U-P, TP raised to 530; Raise FY23/24/25 EPS by 6% to factor in sales-led 1Q beat; That said, BRGR saw another qtr of sales underperformance vs APNT in 1Q with 3-yr standalone sales Cagr at 16% vs 20% for APNT; Stk trades @ 58x FY24 EPS

CLSA ON GAIL: Buy, TP cut to Rs 180; Gas trading drives a 22% PAT beat

A 16% beat on Ebitda; Record high gas trading profits, but petchem & gas transmission disappointed; Building lower core volumes takes down FY24 EPS by 9%

JEFFERIES ON BRITANNIA: Hold, TP – 4320; Heightened inflationary pressures impacted Gross Margin; 3-yr volume CAGR at around mid-single digit, respectable in current context, correction in some of the key inputs prices from peak should help; Margin likely to see strong bounce back staring H2FY23

International Markets:

U.S & Europe:

Asian markets:

ADR Watch:

Commodities & Currency:

FIIs & DIIs:

News Update:

Adani Ports: AD Ports Group has signed a memorandum of understanding (MoU) with Adani Ports and SEZ for strategic joint investments in logistics infrastructure and solutions, which include rail, maritime services, port operations, digital services, industrial zone, and establishment of maritime academies in Tanzania.

Adani Enterprises: Subsidiary Adani Road Transport Ltd (ARTL) has entered into a definitive agreement to acquire Gujarat Road and Infrastructure Company Ltd (GRICL) and Swarna Tollway Pvt Ltd (STPL) for Rs 3,110 crore.

Choice International: The board has approved the issue of bonus shares in the ratio of one equity share for each fully paid up equity share held by shareholders as on record date.

Source: Moneyontrol, Livemint,, Bloomberg, Investing

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