Stock Market Live Updates July 16, 2024: Sensex, Nifty crawl up by mid-session; Coal India surges over 3%

Crude oil futures traded lower on Tuesday morning following signs of economic slowdown in China. Read more

Jio Financial Services Ltd, the financial services arm of RIL, reported a 6 per cent decline in consolidated net profit to ₹313 crore in the first quarter ended June 2024. Read more

Happiest Minds Technologies has launched a complete 360 IT-managed service offering, Happiest Minds’ WATCH360. Happiest Minds Technologies stock trades at ₹826.90 on the NSE, up 0.15%

Top gainers: Chennai Petroleum (11.72%), Camlin Fine Sciences (8.43%), Hatsun (7.50%), Sunteck (7%), TTML (6.94%)

Top losers: JWL (-5.43%), Godfrey Phillips (-4.10%), Five-Star (-3.08%), IDBI (-2.77%), Indiabulls Housing (-2.69%)

Fischer Medical Ventures Ltd confirmed its collaboration with Singapore company, Nanyang Biologics (NYB), a leading drug discovery company dedicated to create transformative nutraceuticals derived from natural plants & herbs.

Fischer Medical Ventures stock rose 1.16% on the BSE, trading at ₹604

H.G. Infra Engineering has obtained completion certificate for rehabilitation and upgradation of Nandurbar (Near Kolde) – Prakasha – Shahada – Khetia (SH-4 & SH-5) State Highway in Maharashtra on Engineering, Procurement and Construction (EPC) basis Contract. 

Stock surges 5.87% on the NSE, trading at ₹1,818.

Bank Nifty opened Tuesday’s session marginally higher at 52,467 versus yesterday’s close of 52,456. The index is now hovering around 52,500, up 0.1 per cent. The advances/ declines ratio stands at 3/9, giving the index a bearish bias. Bandhan Bank, up 0.9 per cent, is the top gainer, whereas Kotak Mahindra Bank, down 1.4 per cent, is the top loser. Read more

The Nifty sustains higher and continues to move up. It is currently trading at 24,624, up 0.16 per cent. The bias is positive, and further rise is on the cards this week. The advances/declines ratio is at 32:18. This is positive. Read more

For live updates on the Tata Steel stock price movements click here

Slowdown in both export and import growth.

The merchandise trade deficit narrowed to $21.0bn in June from $23.8bn in May, largely in line with market expectations (Consensus: $21.1bn, Nomura: $20.3bn). On a seasonally adjusted basis, we estimate the trade deficit moderated only marginally to $22.5bn in June from $22.9bn in May. Export growth eased to 2.6% y-o-y in June from 9.1% in May, despite a favourable base, reflecting weaker sequential momentum in both oil and core exports. The Nomura India Normalisation Index ( for exports, which excludes seasonal and base effects and captures performance relative to pre-pandemic levels, eased to 30% above its pre-pandemic level in June from ~39% in May. That said, our price-volume analysis shows that on a 3-month rolling sum basis, export volume growth is moderating

IPO-bound Hyundai Motor India today launched the sporty entry SUV- EXTER with Dual cylinder CNG at a starting price of Rs 8.50 lakh. Offering the convenience of running on both petrol and CNG, the EXTER Hy-CNG Duo will provide customers with high fuel efficiency and ample boot space to the travel enthusiasts.

Vedanta Ltd has approved a qualified institutional placement with a floor price of Rs.461.26 per share. The company aims to raise up to Rs.6,688 crore through this share sale, with an indicative price range starting at Rs.440 per share, reflecting a 4.2% discount to Monday’s closing price.

JNK India has received a significant order from JNK Global Co., Ltd., Korea for Regeneration Furnace for a refinery project in Oklahoma, USA – Upto Rs 50 Crores

With this order the Company creates a footprint in USA JNK Global is one of the promoters of the Company

Revenue up 10.4% at ₹2,375 cr vs ₹2,150.6 cr

EBITDA up 39% at₹330.3 cr vs ₹237.7 cr

Margin at 13.9% vs 11.1%

Net profit up 62.9% at ₹130.5 cr vs ₹80.1 cr

Declares an interim dividend of ₹6/sh

Initiate Overweight Call, Target Rs 1,280/Share

Company Is The Best In India Market Repair Pure-Play

Operates In Two Underpenetrated Circles Of Rajasthan & North East

Areas Were Co Operates In Have Lower Tele Density, Internet Penetration & Postpaid Mix

Co Enjoys Stronger Tailwinds From Subscriber Growth & Organic ARPU Expansion

Co’s ARPU Is Only 2% Below Bharti’s; Suggesting Underlying Returns Will Remain Superior

Expect 15% Tariff Hike Each In FY25/26 That Will Drive 17%/21% Revenue/EBITDA CAGR Over FY24-27

Co Is Best Play On Mkt Repair Thesis, Given Its Presence In Wireless As Compared To Bharti & Voda Idea

Dividend Payouts Will Increase From 23% In FY24 To 34% In FY27

Dividend Payouts Will Increase Due To Improving FCF From Tariff Hikes & Falling Capex

Buy Call, Target Rs 750

GS on HDFC Life

Buy Call, Target Rs 765

MS on HDFC Life

Overweight Call, Target Rs 790

Key Highlights:

Total Income: ₹14,101 million, a 3.8% increase QoQ

Total Client Base: 24.7 million, an 11.2% increase QoQ and 64.2% YoY

Gross Client Acquisition: 2.6 million, a 94.8% increase YoY

Share in India’s Demat Accounts: 15.2%, a 54 bps increase QoQ and 274 bps YoY

NSE Active Client Base: 6.7 million, a 9.8% increase QoQ and 52% YoY

Number of Orders: 462 million, an 85.9% increase YoY

Average Daily Turnover (Notional basis): ₹43.8 trillion, a 92.7% increase YoY

Share in Retail Overall Equity Turnover: 18.9%, an 82 bps increase QoQ and 299 bps YoY

Hindustan Unilever stock inches up 0.58% on the NSE to trade at ₹2,635.55. Company had entered into a deal with the Indian division of A.O. Smith to sell its water purification business for an enterprise value of ₹601 crore, equivalent to $72 million

Suprajit Engineering has signed the closing memorandum for asset and business acquisition in Germany and equity purchase in Poland and Morocco as the First Stage of acquisition of the business of Stahlschmidt Cable Systems (SCS).

Suprajit Engineering stock inches up 0.70% on the NSE, trading at ₹519.60.

RITES Ltd has received a Letter of Acceptance for Consultancy Services for Third Party Monitoring & Quality Control for 47 Roads (Length 996.70 km) across Assam under the Asom Mala 2.0 for the year 2023-24. Contract worth ₹₹50.18 crore. RITES stock trades at ₹757.80 on the NSE, down by 0.24%.

RateGain Travel Technologies Ltd (RateGain) in partnership with its airline pricing solution, AirGain, and Hahnair, a German airline known for its comprehensive ticketing solutions and distribution services. RateGain stock inches up 0.86% on the NSE, trading at ₹820.90.

Energy

International and domestic crude oil futures settled weaker on Monday with NYMEX gasoline falling to a 4-week low.

Weak economic news from China weighed on crude prices Monday.

The Dollar too recovered on Monday and kept upside capped.

Looking ahead from an intraday perspective, international crude oil prices have started marginally weaker this early Tuesday morning in Asian weighed by weak economic data from China.

In June, China’s crude oil imports fell on both a monthly and annual basis to 46.45 million tons.

Intraday, the NYMEX WTI September futures could trade in band of $80.35 to $81.20, while MCX July crude futures could trade within 6,800 to 6,890.

On the options side, highest Call OI remains at the 7000 strike, while on the downside highest Put OI remains at 6800 strike.

International and domestic gas futures tumbled on Monday undercut by forecasts for cooler US temperatures that would reduce demand from electricity providers to run air conditioning.

Additionally, flows to the LNG terminal in Texas also remained low, reflecting weak demand and weighed on prices.

Looking ahead from an intraday perspective, international natural gas futures have started flat this early Tuesday morning in Asian trading.

Intraday, the NYMEX gas September futures could trade in band of $2.150 to $2.250, while MCX July crude futures could trade in the band of 183 to 190.

On the options side, highest Call OI remains at 240 strike, while on the downside highest Put OI has shifted to 190 strike from 170 strike.

Bullion

International and domestic gold prices gained on Monday aided by hopes for interest rate cuts from the Federal Reserve

International spot and domestic silver prices eased on Monday, tracking gains in the Dollar and bond yields.

However, traders awaited for more comments from Fed officials to gauge the timing of those cuts.

Meanwhile, Powell’s interview with Rubenstein was largely in line where the Fed Chief largely repeated themes from a week ago.

Powell declined to give any guidance on the timing of interest-rate moves and said that policymakers will make calls meeting by meeting.

But he added that the CPI report does add somewhat to confidence that inflation is heading down to the central bank’s 2% goal.

According to the CME FedWatch Tool, markets now see a 94% chance of a U.S. rate cut in September.

However, demand concerns from the physical side limited upside in gold and silver after weaker-than-expected GDP data from major gold consumer China might be limiting buying interest in the gold market.

From an intraday perspective, international gold prices have started marginally higher this early Tuesday morning in Asian trading as investors loo to retail sales data tonight.

Internationally, the range for COMEX August gold is $2,405 to $2,445, while that for MCX gold August is 73,100 to 73,800.

On the options side, highest Call OI remains at 75000 strike, while on the downside highest Put OI remains at 71000 strike.

International LBMA spot silver prices have also started marginally in the green this early Tuesday morning in Asian trade.

The Dollar has started stronger and could cap gains, but the U.S. Treasury Yield have started with small cuts and could cap downside.

Internationally, the range for COMEX September silver is $30.625 to $31.190, while that for MCX September silver is 92,100 to 93,250

On the options side, highest Call OI remains at 100000 strike, while on the downside highest Put OI remains at 85000 strike.

Base Metals

International and domestic copper dropped on Monday as the dollar firmed and weak economic data from China.

Data showed China’s Q2 GDP rose by 0.6% quarter-on-quarter and 5.0% year-on-year, weaker than expectations of 0.9% and 5.2% respectively.

Additionally, China’s June retail sales rose by 2.0% year-on-year, weaker than expectations of 3.4% year-on-year and the smallest pace of increase in 14 months.

In addition, China’s June new home prices fell by 0.67% month-on-month, the thirteenth consecutive month home prices have declined.

Meanwhile, Stocks of copper in LME-approved warehouses have reached their highest since October 2021 at 210,325 tons, more than double levels in mid-May and weighed on prices.

Other metals on LME ended weaker on Monday with aluminium prices falling almost 1% after data showed China’s production of primary aluminium in June rose to its highest in nearly a decade.

From an intraday perspective, international copper has started weaker this early Tuesday morning in Asian trading on poor demand prospects from China and a stronger Dollar.

However, downside could be capped as traders could be hopeful that weak data would lead to further stimulus from China.

Key trigger will be China’s plenum which started this week.

Internationally, LME copper range is $9,700 to $9,875, while the range for MCX copper July is 850 to 865.

On the options side, highest Call OI has shifted to 880 strike from 900 strike, while on the downside highest Put OI remains at 850 strike.

Most other metals on LME have started weaker this early Tuesday morning in Asian trade.

Internationally, the range for LME zinc is $2,925 to $2,975, while that for MCX zinc July is 272 to 276.

On the options side, highest Call OI remains at 275 strike, while on the downside highest Put OI remains at 260 strike.

Top gainers: BPCL (1.69%), Adani Enterprises (1.33%), Coal India (1.29%), HDFC Life (1.27%), Tata Steel (1.04%)

Top losers: L&T (-0.59%), Shriram Finance (-0.47%), LTIMindtree (-0.46%), Power Grid (-0.44%), SBI Life (-0.42%)

“In the next few days in the run up to the Budget, the market is likely to anticipate the Budget proposals and respond. Even though Budget anticipations are speculative, this Budget will be growth oriented and at the same time fiscally prudent. Growth is top priority which the Government cannot and will not compromise. Tax buoyancy and the RBI dividend bonanza give the finance minister ample room for fiscal consolidation. Therefore, the market will be optimistic on this ground.

The unknown factor is regarding any possible tweaking of the LTCG tax. If the tax rate is raised or tenure for LTCG is extended the market will respond negatively to that. A possible Budget proposal that can impact certain segments of the market would be disinvestment. Since PSU stocks are trading at high valuations, the government is likely to go for disinvestment in segments where government ownership is very high. This can increase the supply of stocks in these segments and bring their prices down. Watch out for disinvestment proposals in Railways and defence-related segments.”

Century Textiles: Company’s arm, Birla Estates, buys 5-acre land parcel in Gurugram, with estimated revenue potential of Rs 1,400 crore. 

Hindustan Unilever: Company approves sale & divestment of company’s water purification business to A.O. Smith India for $72 m 

LUPIN: Company divests its U.S. commercial women’s health specialty business to Evofem Biosciences.

Bharat Agri Fert & Realty: Company introduces Wembely-24, a high-rise tower in Majiwada Thane, featuring 457 BHK residential flats.

Elecon Engineering: Company Limited has announced a sub-division/split of existing equity shares from 1 to 2 shares with a face value of Re. 1 each, fully paid-up.

NLC India: Company has emerged as the successful bidder for the Machhakata in the 8th round of commercial coal block e-auction held recently by the Ministry of Coal, Gol. 

Hutsun Agro: Net profit up 62.9% at ₹130.5 cr vs ₹80.1 cr, revenue up 10.4% at ₹2,375 cr vs ₹2,150.6 cr (YoY).

Styrenix Performance: Net Profit at Rs 61.2 cr vs Rs. 32.5 cr, Revenue at Rs 698.7 cr vs Rs 543.8 cr (YoY)

Kelton Tech: Net Profit at Rs 20.0 cr vs Rs. 15.4 cr, Revenue at Rs 260 cr vs Rs 250 cr (YoY) 

Rajoo Engineers: Net Profit Rs 5.34 cr vs Rs 2.5 cr, Q1 Revenue Rs 50.9 cr vs Rs 31.2 cr (YoY) 

HDFC AMC: Net Profit at Rs 604.0 cr vs Rs. 541.0 cr, Revenue at Rs 775 cr vs Rs 695 cr (YoY) 

JNK India: Company has received a significant order from JNK global company 

CESC: Purvah Green Power Ltd Signs Framework Agreement for Wind Capacity with Suzlon Energy Ltd 

Landmark Cars: June Quarter Revenue Rs 1,166 Cr vs 935 Cr, Growth Of 24.71% (YoY)

RVNL: Company receives letter of acceptance from East Coast Railway for a project worth Rs 160 crore. 

Emkay Global: Investor Dolly Khanna Name Apperas With 1.63% Stake in Co during Q1

Tata Steel: Company plans to double manufacturing capacity to 40 MTPA. 

Zee Entertainment: Company receives shareholder approval with requisite majority to raise Rs 2,000 crore

Vedanta QIP: Base fund raise of Rs 5,016 cr with an upsize option of Rs 1,672 cr 

SJS Ent: Goldman Sachs increased stake to 4.41% from 4.22% 

Ganesh Green Bharat: Camellia bought 141600 at Rs. 398.00 of company. 

ERIS Life: Franklin bought 1094201 at Rs. 1,000.04 of company. 

JTEKT: BNP Paribas Investments increased stake to 2.16% from 2.11%

Timken: HSBC Funds increased stake to 1.23% from 1.11% 

Taneja Aerospace/TAAL Enterprises: The rationalization of GST on MRO will attract investment of around 1000 crores in next 3-4 years. 

Data Patterns: HSBC Funds name appears with 1.35% stake. 

Hariom Pipes: Malabar Fund increased stake to 9.17% from 5.62%. 

GMR/ Adani Ent: Government aims to further double the airports in India from existing 150: Aviation Minister. 

Ujaas Energy: Board approves issuance of 1 bonus share for every 4 share held 

Den Networks: Net Profit at Rs 46 cr vs Rs. 43 cr, Revenue at Rs 248 cr vs Rs 273 cr (YoY) 

TNPL: Company appoints Sandeep Saxena as Chairman and MD 

Sheetal Cool Products: Net Profit at Rs 7.44 cr vs Rs. 8.10 cr, Revenue at Rs 124 cr vs Rs 135 cr (YoY) 

Spice Jet: Net profit at ₹126.9 cr vs loss of ₹6.2 cr, Revenue down 19% at ₹1,738.4 cr vs ₹2,145 cr (YoY) 

Benares Hotels: Net Profit at Rs 6.4 cr vs Rs 6.3 cr, Revenue at Rs 23 cr vs Rs 25.5 cr (YoY) 

Udaipur Cement: Net loss at Rs 10.28 cr vs profit of Rs. 4.2 cr, Revenue at Rs 325 cr vs Rs 246 cr

Balakrishna Industries Company completes setting up of mould manufacturing plant at its Bhuj unit with a capex of Rs 300 crore 

Unichem Laboratories: U.S. FDA completes inspection at company’s Goa formulation facility, issues 5 observations 

Federal Bank: Bank to Consider Q1 Results on July 24 

Sun Pharma: Board Meeting on Aug 1 to Consider Q1 Results

JP Associates: Adani Eyes Jaypee Cement Assets through IBC

Equitas SFB: Company approves appointment of Narayanan N R, K S Sampath & Ramkumar Krishnaswamy as independent directors. 

Jio Fin: Net Profit at Rs 313 cr vs Rs. 332 cr, Revenue at Rs 420 cr vs Rs 414 cr (YoY). 

Adani Ports: GQG Partners increased stake to 4.12% from 4.07% 

One 97 Communication: Paytm gets administrative warning from SEBI

Oil upstream stocks: Windfall Tax on Crude rise to ₹7,000/tonne from ₹6,000/tonne w.e.f. July 16, 2024

Telecom Stocks: Supreme Court to urgently hear curative petition against an earlier court order regarding AGR dues.

US Markets ended on a firm note on Monday with two of the three major indices moving on to record fresh highs aided by strong buying across various counters, optimism about interest rate cuts by the Fed, and the likelihood of Donald Trump winning the upcoming presidential election. Early today, the Asian markets started mostly on a negative note after the US Fed Chairman Jerome Powell indicated overnight that the central bank is looking for greater confidence that inflation will drop to 2% levels, thereby citing ‘long and variable legs’ in policy effects. Domestically, Indian indices might start on a flat to positive note amid steady global cues and the market back in the earnings season. In the commodity market, gold saw a rise, inching towards a two-month high. However, the oil prices moved down on worries about a slowing Chinese economy crimping demand. Domestically, the investors will keep a close watch on the markets as the result season has kicked off and gauge their decisions for the upcoming year.

The benchmark index opened 84 points higher in its previous trading session. However, despite the initial gain, the index fluctuated within a narrow range of 112 points, lacking any clear momentum throughout the day. It closed without showing a definite direction. Interestingly, despite the lacklustre index movement, the overall market and momentum breadth remained positive. With 5-day EMA acting as immediate support, the index is anticipated to continue to attract bullish strength on sustenance above the average line on a closing basis.

Sup: 24500-24380-24330

Res: 24600-24700-24800

- HDFCLIFE remains focused on maintaining a balanced product mix, with an emphasis on product innovation and superior customer service. Growth in lower-tier cities will be in focus with the expansion of HDFC Bank’s branch network and the deepening of HDFCLIFE’s branch network.

- Persistency improved across cohorts, which will keep the renewal premium growth healthy. The company aims to double its APE/VNB over the next four years. Surrender charges are likely to bring in new commission constructs, and hence, distributor adaptability will be critical.

- We have raised our APE growth estimates but lowered our VNB margin assumptions, based on the 1Q performance and guidance. We now estimate HDFCLIFE to deliver an ~18% VNB CAGR over FY24-26 and steady margin in the range of 25-26%. Maintain BUY with a TP of INR750 (premised on 2.5x Mar’26E EV).

Indian markets could open flat to mildly higher, in line with mixed Asian markets today and higher US markets on July 15

U.S. stocks ended higher on Monday, as traders increased their bets on the possibility of a Donald Trump victory in November’s U.S. presidential election following a failed assassination attempt against Trump over the weekend. The growing probability that the U.S. Federal Reserve will begin cutting its key interest rate as soon as September also helped feed risk appetite.

The Indian government has raised the windfall tax on petroleum crude to 7,000 rupees per metric ton from 6,000 rupees, with effect from July 16.

Following Monday’s weaker-than-expected China GDP print, Goldman Sachs lowered its forecast for China’s full-year gross domestic product to 4.9% from 5%, while JPMorgan cut its predictions from 5.2% to 4.7%.

Bitcoin hit a two-week high Monday, as betting markets suggested an increased chance of victory for crypto-friendly candidate Donald Trump in the U.S. presidential election. The value of the world’s biggest cryptocurrency, bitcoin, was up 6.2%% at $63,622.09, according to CoinGecko.

Asia-Pacific markets open mixed on Tuesday as traders in Asia react to Federal Reserve Chair Jerome Powell’s comments that the central bank will not wait until inflation hits 2% to cut interest rates.

Nifty ended at a fresh closing high in the first session of the week tracking sharp gains in large PSU stocks. At close, Nifty was up 0.35% or 84.6 points at 24586.7. Nifty formed a doji after a rise suggesting caution at higher levels. In the recent past, such formations did not result in continuous declines. Nifty could stay in the 24494-24635 band for the near term.

MS on VBL: Maintain Overweight on Company, raise target price at Rs 1701/Sh (Positive) 

JP Morgan on Bharti Hexacom: Initiate Overweight on Company, target price at Rs 1280/Sh (Positive) 

GS on HDFC Life: Maintain Buy on Company, raise target price at Rs 765/Sh (Positive) 

Jefferies on HDFC Life: Maintain Buy on Company, target price at Rs 750/Sh (Positive) 

HSBC on HDFC Life: Maintain Buy on Company, raise target price at Rs 760/Sh (Positive) 

Citi on HDFC Life: Maintain Buy on Company, raise target price at Rs 735/Sh (Positive) 

MS on HDFC Life: Maintain Overweight on Company, raise target price at Rs 790/Sh (Positive) 

Jefferies on HDFC AMC: Maintain Buy on Company, raise target price at Rs 4900/Sh (Positive) 

Citi on Vodafone Idea: Maintain Buy on Company, target price at Rs 23/Sh (Positive) 

GS on Torrent Pharma: Maintain Buy on Company, raise target price at Rs 3125/Sh (Positive) 

GS on Neuland Labs: Maintain Buy on Company, raise target price at Rs 10200/Sh (Positive) 

JP Morgan on Gas stocks: Data from the PPAC and CEA suggests LNG imports increased meaningfully in April / May due to higher demand from power plants. Prefer Petronet, MGL and IGL (Positive) 

MS on Apollo Tyre: Maintain Equal weight on Company, target price at Rs 472/Sh (Neutral) 

MS on HDFC AMC: Maintain Equal weight on Company, target price at Rs 3640/Sh (Neutral) 

HSBC on HDFC AMC: Maintain Hold on Company, target price at Rs 4030/Sh (Neutral) 

CLSA on HDFC Life: Maintain Outperform on Company, target price at Rs 700/Sh (Neutral) 

Macquarie on HDFC Life: Maintain Neutral on Company, target price at Rs 560/Sh (Neutral)

Crude oil futures traded lower on Tuesday morning following the slowing down of economy in China. At 9.06 am on Tuesday, September Brent oil futures were at $84.64, down by 0.25 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $80.61, down by 0.28 per cent. July crude oil futures were trading at ₹6831 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹6847, down by 0.23 per cent, and August futures were trading at ₹6755 against the previous close of ₹6770, down by 0.22 per cent.

Indian stocks are expected to open on a flat note and remain lacklustre through the day. According to analysts, as Wednesday is a trade holiday due to Muharram, traders will keep their positions light. However, the undertone remains strong, they added. The focus is now on ongoing results and the upcoming Budget, experts said. Read more

Hindustan Unilever Ltd. on Monday announced that it has entered into a deal with the Indian division of A.O. Smith to sell its water purification business for an enterprise value of ₹601 crore, equivalent to $72 million. Read more

India’s inclusion in Bond Indices will help supplement Balance of Payments surplus while ensuring incremental ‘Indianisation’ of global hot money, says SBI’s Economic Research team. Monthly net inflows into FAR (fully accessible route) securities have already touched ~Rs 90,000 crore during October’23-June’24 post the announcement of inclusion of these securities in JP Morgan’s JP Morgan’s Government Bond Index-Emerging Markets-Global Diversified (GBI-EM-GD) Index, according to SBI’s Economic Research team.

Though Indian bonds continue to remain on a watch list by another major index provider, FTSE Russell (which cited criteria around taxation, FPI registration and settlement process for Indian markets) for inclusion in its Emerging Markets Government Bond Index (EM-GBI), the next annual revision due could put a strong case for the Index managers, with the FOMO (Fear of Missing Out) effect as global trading platforms like MarketAxess, Bloomberg and Tradeweb, working closely with CCIL, are now awaiting the RBI’s approval for new launches: SBI’s Eco Research Team

Several global marquee funds, at present clients of multiple indices forming a passive investment channel, and taking proxy exposures to India via instruments such as total returns swaps and supranational bonds, have evinced keen interest to enter the most rapidly growing Large Economy directly, indicating incremental Indianisation of global flows, and making the country compete directly with China in AXJ (Asia Ex Japan) category with foreign ownership in its bonds standing a tad above $750 billion: SBI’s eco research team

Ex-Dividend 18 July 2024 (Thursday)

Last date for Cum-Dividend Today

Advanced Enzyme Technologies Ltd

Dividend Per Share Rs.1.1

Previous day Closing Price – Rs. 377.45

Amara Raja Energy & Mobility Ltd

Dividend Per Share Rs.5.1

Previous day Closing Price – Rs. 1597.65

Arvind Smartspaces Ltd

Special Dividend Per Share Rs.1

Dividend Per Share Rs.2.5

Previous day Closing Price – Rs. 695.85

Asm Technologies Ltd.

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 1616.4

Bliss Gvs Pharma Ltd.

Dividend Per Share Rs.0.5

Previous day Closing Price – Rs. 116

Can Fin Homes Ltd.

Dividend Per Share Rs.4

Previous day Closing Price – Rs. 878.4

Golkunda Diamonds & Jewellery Ltd.

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 193.15

Gpt Healthcare Ltd

Dividend Per Share Rs.1.5

Previous day Closing Price – Rs. 165.55

Kanoria Energy & Infrastructure Ltd

Dividend Per Share Rs.0.05

Previous day Closing Price – Rs. 36.54

Nelcast Ltd.

Dividend Per Share Rs.0.4

Previous day Closing Price – Rs. 148.25

Newgen Software Technologies Ltd

Dividend Per Share Rs.4

Previous day Closing Price – Rs. 1036.4

Panasonic Energy India Company Ltd.

Dividend Per Share Rs.8.85

Previous day Closing Price – Rs. 527.9

Praj Industries Ltd.

Dividend Per Share Rs.6

Previous day Closing Price – Rs. 722.85

Precision Camshafts Ltd

Dividend Per Share Rs.1

Previous day Closing Price – Rs. 188.2

Tanla Platforms Ltd

Dividend Per Share Rs.6

Previous day Closing Price – Rs. 997.75

Thangamayil Jewellery Ltd

Dividend Per Share Rs.6

Previous day Closing Price – Rs. 1767.7

Ultramarine & Pigments Ltd.

Dividend Per Share Rs.5

Previous day Closing Price – Rs. 447.3

Uti Asset Management Company Ltd

Special Dividend Per Share Rs.23

Dividend Per Share Rs.24

Previous day Closing Price – Rs. 1072.6

KPI Green Energy Ltd

Stock Split From Rs.10/- to Rs.5/-

Previous day Closing Price – Rs. 1942.75

Ex - Stock Split 18 July 2024 (Thursday)

Last day trade for before split Today

Paytm believes it acted in compliance with SEBI regulations. SEBI warning related to its related party transactions 

BSE Sensex-30 (P/E 24.48) + 146 (80,665) 🔼🫤

BSEmidcap-150 (P/E 42.63) + 123 (16,347) 🔼🙂

BSE small cap-250 (P/E 34.50) + 23 (7,145) 🔼🙂

Nifty-50 (P/E - 23.38) + 85 (24,587) 🔼🙂

Bank Nifty (P/E - 16.01) + 177 (52,456) 🔼🙂

India VIX + 0.46 (14.19) 🔼🙁

Fii Cash + 2,685 Crs 🙂

Dii Cash - 0,331 Crs 😑

New 10 Yrs G’Sec. Benchmark 7.10 GS-2034 (Rs. 100.845) YTM 6.9767 % 🔽🫤

Call 6.47 % (6.46 %) 🔼😑

TREP 6.34 % (6.33 %) 🔼😑

REPO 6.40 % (6.41 %) 🔽😐

T-Bill(3m) 6.76 % ↔️😶

BrntCrude 84.82 $/brl ₹. 6,870 ↘️

Gold Comex 2,417 $/oz ₹/10 gms 73,358 🔼

Silver Comex 30.96 $/oz 92,530 ₹/kg 🔼

$/₹ 83.59 🔽😑

€/₹ 91.13 🔽🙁

£/₹ 108.37 🔽😕

Baltic Dry Fright index (Friday) + 50 (1,997) ↗️

DJIA Future + 218 (40,219) 🔼🙂

US Tech 100 Future + 83 (20,416) 🔼🙂

GIFT Nifty - 17 (24,638) 🔽😑

NET PROFIT 612M RUPEES VS 324M (YOY)

REVENUE 6.99B RUPEES VS 5.44B (YOY)

EBITDA 897.2M RUPEES VS 509.5M (YOY)

EBITDA MARGIN 12.84% VS 9.37% (YOY

NET PROFIT AT 1293 CR V 882 CR (YOY)

OPERATING PROFIT UP 4 % TO 2294 CR (QOQ)

PROVISON UP 1 % TO 950 CR (QOQ)

GROSS NPA AT 1.85 % V 1.88 % (QOQ)

NET NPA AT 0.20 % V 0.20 (QOQ

NET PROFIT 1.1B RUPEES VS 1.6B (YOY) 

DECLINE IN PROFIT OF 31.25% FROM PREVIOUS

EBITDA 1.49B RUPEES VS 2.2B (YOY) 

EBITDA MARGIN 69.64% VS 79.85% (YOY)

https://play.google.com/store/apps/details?id=com.intelegain.rb

Recent Interview...

As of 06:52 AM Monday 15 July 2024

HCL Tech: Pratik Aggarwal, CFO

HCL Tech Q1 Earnings: Mild Beat On Margins, Revenue | Here’s What Management Has To Say

https://www.youtube.com/watch?v=BBXE_yJfD6k

LT Foods: VK Arora, CMD

LT Foods Biz: Co Eyeing Revenue From UK Facility, What’s The Expansion Plan Of Biz In UK Market?

https://www.youtube.com/watch?v=OCiI0KNhS30

Puravankara: Abhishek Kapoor, Group CEO

Puravankara: Co’s Pre-Sales Affected Q1 Earnings, How Will Realty Demand Trend Be Improved Ahead?

https://www.youtube.com/watch?v=glOitJUDleM

Events today…

https://www.researchbytes.com/Default.aspx?cc=event

Results today…

https://www.researchbytes.com/Default.aspx?cc=result

Replays available at www.researchbytes.com

* ABFRL

* CHAMBAL

* GMRINFRA

* GNFC

* HINDCOPPER

* INDIACEM

* INDUSTOWER

* RBLBANK

The company is already sitting at a net cash position of INR11.8b which can suffice the core business growth. 

The additional funds of upto INR20b will provide the strategic flexibility in evaluating opportunities. 

The company hasn’t announced any plans at this point, but there may be potential to a) explore international markets, b) expansion in the linear space, c) fund Zee5 or other OTT acquisition, etc. 

Together with Sony, the combined company was even aiming an higher fund raise of INR 130b.

Hindustan Unilever has decided to divest its Water Purification business, currently operating under the “Pureit” brand. This sale includes the associated trademarks, copyrights, intellectual properties, identified assets, and contracts, all of which will be transferred to A. O. Smith India Water Products Private Ltd as a going concern on a slump sale basis.

Key details of the transaction: 

Revenue contributed by division: For the FY2023-24, the Water Purification business, which is part of the HUL Home Care division, generated a turnover of ₹2,930m, accounting for less than 1% of HUL’s total turnover. 

•Date of sale agreement signing: 15th July, 2024

•The expected date of completion of sale/disposal: Estimated period of 3 months

•Details of buyers: A. O. Smith India Water Products Private Limited is the Buyer entity involved in the Transaction. It is a subsidiary of A. O. Smith Corporation, USA.

•Consideration received from such sale/disposal: The enterprise value of the business has been estimated at $72m (INR ~6,010m).

15 July 2024 (Rs. In Crs.)

Turnover: (NSE + BSE)

Cash Volume: 131749.37 + 9733.25 Total: 141482.62

F&O Volume: 527523.79 + 15972955.72 Total: 16500479.5

Provisional Cash

FII/FPI: NET BUY: +2684.78 

(14857.07 - 12172.29) 

DII: NET SELL: -331.00 

(15033.05 - 15364.05)

Tata Steel has embarked on transformation journey by adopting advanced manufacturing techniques and this will lead to unavoidable job losses, especially in the UK. Read more

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The Supreme Court has rejected a plea to review its January 3 verdict upholding the Securities and Exchange Board of India (SEBI) investigation into allegations of share price manipulation and failure to disclose transactions in violation of the regulations and securities’ laws raised by US-based Hindenburg Research against the Adani Group. Read more

The short-term outlook for Bank of Maharashtra is bullish. The stock has begun the week on a strong note by surging over 5 per cent on Monday. This rise has taken the stock well above an important resistance at ₹67. Prior to this rise, the stock has formed a strong base above ₹63. Read more