Stock Market Live Updates 7 August 2024: Sensex, Nifty rise amid global market rebound; oil & gas index gains over 3%

Shree Cement stock trades at ₹25,680 on the NSE, down by 1.61%. The company recorded 51.31% decline in its consolidated net profit to Rs 278.45 crore for the first quarter ended in June 2024 on account of sluggish demand.

Rajratan Global Wire announced that the commercial production at newly established Green Field manufacturing facility in Sriperumbudur, Kancheepuram, Chennai, commenced today, August 7, 2024. This unit has been set up for the production of Tyre Bead Wire with a capacity of up to 60,000 MT per annum. 

Rajratan Global Wire stock rose 1.14% on the NSE, trading at ₹583.

AIA Engineering board has approved the buy-back of fully paid-up equity shares of face value of ₹2 each by the Company at a price of ₹5,000 per share payable in cash for a total consideration not exceeding ₹500 crore.

AIA Engineering stock rises 1.16% on the NSE, trading at ₹4,515.

Shares of drug maker Lupin on Wednesday jumped over 6 per cent after the firm reported 77 per cent increase in consolidated net profit for the first quarter ended June 30, 2024.

The stock rallied 6.18 per cent to hit its 52-week high of Rs 2,025 on the BSE.

At the NSE, it soared 6.23 per cent to Rs 2,029.95 -- the 52-week high.

Lupin has reported 77 per cent increase in consolidated net profit at Rs 801 crore for June quarter FY25, aided by robust sales across markets.

The Mumbai-based drug maker had logged a net profit of Rs 452 crore in April-June FY24.

Total revenue from operations rose to Rs 5,600 crore in the first quarter from Rs 4,814 crore a year ago, Lupin said in a regulatory filing on Tuesday evening.

Brainbees Solutions Limited, popularly known by its brand name ‘Firstcry’, a leading multi-channel retailing platform for childcare products has launched its IPO and is open for subscription till August 8, 2024. The IPO is a mix of fresh issue of ₹1,666 crore and offer for sale up to ₹2,528 crore, totalling to ₹4,194 crore.

Shilpa Medicare Limited has completed Phase 1 clinical trial for recombinant human albumin 20% (rHA). 

Stock surges 6.36% on the NSE to trade at ₹709.

IndusInd (-2.46%), Bharti Airtel (-0.59%), Asian Paints (-0.40%), Kotak Mahindra (-0.19%), Titan (-0.17%)

ONGC (7.11%), Coal India (5.16%), Adani Enterprises (3.11%), Adani Ports (2.90%), JSW Steel (2.75%)

Stocks advanced on BSE at 12 noon on August 7, 2024, were 2,808 against 945 stocks that declined; 125 stocks remain unchanged. Total stocks traded were 3,878. The number of stocks that recorded a 52-week high was 151, and those that hit a 52-week low was 19. 

In addition, 222 stocks traded in upper circuit and 219 stocks hit the lower circuit.

Patel Engineering Limited, in partnership with their JV partner, has secured a significant irrigation project from the Government of Maharashtra. Patel Engineering’s share of this project amounts to an impressive 35%, totaling 111.16 crore.

Ajmera Realty & Infra India Ltd (ARIIL) issued additional equity shares as a marginal gain to its stakeholders. This is due to the de-merger between ARIIL and its 100% subsidiary – Radha Raman Dev Ventures Pvt Ltd. The de-merger was approved by NCLT on the 4th of July 2024. 

As per the scheme of Arrangement, ARIIL has allotted 1 equity share with the face value of ₹10 each against every 50 shares held to its equity shareholders. The record date for finalizing the same was set as the 2nd of August 2024 by the company. 

Additional 7,09,698 equity shares have been issued by ARIIL and therefore the expanded capital now at 3,61,94,573 equity shares of ARIIL.

This de-merger is for transfer of an undertaking of 6.5 acres of land at I-land Wadala. The plan is to develop a mix-use project on this 6.5 acre land. 

Through this demerger, it is proposed to segregate business pertaining to the development of a mix-use project into a separate company i.e 100% subsidiary – Radha Raman Dev Ventures Pvt Ltd to leverage the growth potential of the project to its optimum.

Vikram Kasat – Head of Advisory at PL Capital - Prabhudas Lilladher- On markets Tuesday Recovery in US

“Fading Concern There were several new R-words on Wall Street today—Rebound, Recovery, Reversal—after all of yesterday’s Recession talk. Investors bought the dip, sending indexes surging higher.

On a day when almost all 11 S&P 500 sectors were up 1% or more, it seems market participants may be looking to diversify as they buy the market’s dip

The market kept saying, ‘we’re achieving a soft landing,’ but it was priced like there was no landing.

Now we’re having that disconnect corrected. It’s a long-term positive because it gets us to a sustainable level.

Investors aren’t out of the woods yet. August is a historically poor month for the market, and there’s little economic data on the calendar for the next couple weeks to change the narrative. Keep that seatbelt on. It’s not time for Relief and Relaxation yet.”

Nifty 24034.15

Immediate Support level remains same 23890

Route – Tender

• Buyback Price: ₹220
• Current Market Price: ₹184
• Market Cap: ₹17,857 Crores
• Buyback Size: ₹278.44 Crores (Representing 7.87% and 6.67% of the total paid up equity share capital and free reserves)
• Buyback Size: 1,26,55,970 shares (Representing 1.30% of O/s. shares)
• Retail Quota: 18,98,396 Shares

Entitlement

• General Category - 1 Equity Shares for every 88 Equity Shares held on the Record Date
• Retail Category - 3 Equity Shares for every 44 Equity Shares held on the Record Dat

Buyback Record Date: 05 Aug 2024

Tender Period

• Start Date - 09 Aug 2024
• Close Date - 16 Aug 2024
• Obligation Date - 22 Aug 2024
• Settlement Date - 23 Aug 2024

Bigbloc Construction board has approved issue and allotment of shares of Starbigbloc Building Material Limited, a wholly-owned subsidiary company, by way of preferential allotment. 

Starbigbloc Building Material Limited will cease to be a wholly-owned subsidiary and continue as a subsidiary Company.

Bigbloc Construction stock jumps 8.03% on the NSE, trading at ₹259.05.

Suzlon Energy shares hit upper circuit at ₹69.58 on the NSE, higher by 4.99%. The company will acquire a 76% stake in Renom Energy Services for ₹660 crore in two tranches from Sanjay Ghodawat Group.

Tata Power Company shares declined 1.67% on the NSE to trade at ₹429.40. The company reported its June quarter net profit flat at ₹970.9 crore, while revenue was 13.7% higher at ₹17,293.6 crore, led by its generation, transmission, and distribution business.

Tata Power Company has also proposed acquisition of 40% equity stake in Khorlochhu Hydro Power Ltd.

The Competition Commission of India (CCI) had approved the proposal for purchasing 12 special purpose vehicles of PNC Infratech Ltd and PNC Infra Holdings by Highway Infrastructure Trust. 

PNC Infratech stock trades flat at ₹471.15 on the NSE.

Shoppers Stop partners with Single.id to launch the new Shoppers Stop First Citizen Club rewards app.

Shoppers Stop stock inches up 0.92% on the NSE, trading at ₹704.75

Seamec informed that the vessel “Seamec Diamond” has been put on hire for ONGC Contract through HAL Offshore Ltd.

Seamec stock rises 1.51% on the NSE, trading at ₹1,520.95

TVS Motor Company stock trades 3.32% higher on the NSE at ₹2,561.15 after hitting a 52-week high today at ₹2,618.65. The company reported a 27% rise in profit after tax at ₹577 crore for the quarter that ended June 30, 2024, compared to ₹468 crore in the year-ago quarter.

The Bangladesh crisis has driven the stock prices of India’s major spinning and textile companies on an upward trajectory on Tuesday. Companies like Vardhman Textiles, KPR Mills, GHCL Textiles and Sportking experienced substantial gains during the day.

V Nagappan, a stock analyst, commenting on the increase in stock prices of various textile and spinning companies says, “Many of them have begun performing well with new and dynamic management unlike in the past where the owners were like Zamindars and their lieutenants running the show. NexGen is doing better. Bangladesh uncertainty adds to FDA issues.”

Bank Nifty index seems to be struggling to get a strong follow-through rise. The index opened higher today but failed to sustain. It has come down from the intraday high of 50,292 giving back some of the gains.

Bank Nifty index is currently trading at 50,115, up 0.7 per cent. The advances/declines ratio is at 10:2.

Top gainers on the BSE as at 11 am:

Edelweiss (8.61%), Oil India (7.74%), CAMS (7.54%), VMART (7.28%), ONGC (7.14%)

Top losers:

Fusion (-20%), Eih (-5.94%), MTNL (-5%), Bata India (-3.68%), Prince Pipe (-2.28%)

Rupee traded in a narrow range in morning trade on Wednesday, as the support from positive domestic equities was negated by strengthening of the American currency in the overseas market.

At the interbank foreign exchange market, the local unit opened at 83.86 but soon pared the gains to trade at 83.92, unchanged from its previous close.

Godrej Industries board has approved raising of funds by way of issuance of unsecured NCDs on private placement basis for an amount not exceeding ₹3,000 crore.

Godrej Industries stock trades flat at ₹878.15 on the NSE, up 0.90%.

Nifty 50 is trading higher. It touched a high of 24,306 and has come down well from there. The index is currently trading at 24,201, up 0.9 per cent. The advances/declines ratio is at 47:3. This is positive. If this trend sustains, then Nifty can rise further during the day.

Fortis Healthcare has reported a 40 per cent increase in its consolidated profit after tax to Rs 174 crore for the first quarter ended June 30, 2024, aided by strong performance in the hospital business.

The healthcare major had reported a profit after tax (PAT) of Rs 124 crore in the April-June quarter of last fiscal.

Revenue from operations rose to Rs 1,859 crore in the year under review from Rs 1,657 crore in the year-ago period, Fortis Healthcare said in a late-night filing on Tuesday.

Welspun Corp’s associate company East Pipes Integrated Company for Industry (EPIC), Saudi Arabia’s leading manufacturer of HSAW Pipes announced multi contracts sign off with EPC contractors with value exceeding SAR 235 million (Approx. ₹525 crore) for manufacturing, supply of steel pipes and coating . The duration of the contract is 24 months. 

Welspun Corp stock rises 2.03% on the NSE, trading at ₹645.70

Lodha (3.23%), Oberoi Realty (3.01%), DLF (2.91%), Godrej Properties (2.17%), Brigade (1.17%)

Arvind (5.10%), Lupin (4.81%), Natco Pharma (4.44%), Ajanta Pharma (4.05%), TVS Motors (3.84%), Symphony (0.16%)

The Nikkei markets, which experienced significant losses on Monday, saw strong gains in the morning session. This led to a positive opening for our markets. However, after the initial hour, there was no follow-through buying, and as the day progressed, prices gradually declined, erasing all gains and eventually closing below the 24000 mark with a 0.26% loss.

Technically, there hasn’t been a significant change in price levels, but from the morning highs, the momentum is clearly with the bears, who are using any bounces as opportunities to sell. On the daily chart, prices remained within the range of the previous candle, which now serves as a key trading range. The lower end of Monday’s candle aligns with the 50 EMA, while the upper end coincides with the 20 EMA and a bearish gap. Although the momentum favors the bears, the hourly indicators are in the oversold zone, suggesting a possibility of intermittent rebounds cannot be ruled out. Therefore, any such bounces, similar to yesterday, should ideally be viewed as selling opportunities. As for key levels, 24250 appears to be immediate resistance, while the 24350 - 24400 range remains a challenging barrier for the bulls. 

Only a close above this range could potentially revive some positive momentum in the market. On the downside, immediate support is seen at 23900 - 23850, below which the Nifty may slip towards the 23600 - 23550 levels. Traders are advised to monitor these levels closely and adjust their trades accordingly, while also keeping an eye on global developments, as our markets are particularly influenced by global momentum.

Live updates

Scripbox, India’s leading mutual fund app, today announced the launch of investment advisory services for direct mutual funds. Historically available only to high net worth individuals (HNIs), these advisory services are now accessible to all customers via the Scripbox App for a monthly fee.

“Investors in direct funds lack access to expert guidance, this is a significant gap in the market which we are addressing with our app,” said Sanjiv Singhal, Founder of Scripbox. “Our digital app provides personalized financial planning, risk profiling, asset allocation, fund selection, portfolio review – end to end high quality advisory services – for investors in direct funds. This is what we do best—helping our customers meet their long-term financial goals.”

Scripbox App is the first to bring high-quality advisory services to investors in direct mutual funds. This launch is part of Scripbox’s mission to help a million families achieve financial freedom.

SEPC Ltd has utilised an amount of ₹8,500 lakh from the Net Proceeds towards full or partial repayment/ pre-payment, of certain secured bank borrowings availed by the Company.

Stock trades flat at 18.30 on the NSE.

Sell, TP Rs 500

Soft qtr, with 1Q declining 9% qoq in line 

While vol recovered 13% qoq (2% ahead), this came at expense of per unit EBITDA margins that declined 20% qoq (in line) 

Performance validates that 4Q represented a near-term peak for Co’s earnings

Sell, TP Rs 1050 

EBITDA margin declined by 548bps YoY to 19.6% (-288bps QoQ; -794bps vs 1QFY20). 

Margin adversely impacted due to one-time investment in technology (Rs147mn; implying 156bps adverse impact on margin)

Neutral, TP Rs 3470

1Q rev at Rs 23bn, up 4% y-y (-4%/vs Nomura est.) 

Domestic sales grew 12% y-y, while exports declined 22% y-y 

Gross margin at 37.8%, rose 523bp y-y 

EBITDA at Rs 4.7bn, up 37% y-y (+6% vs est.) 

EBITDA margin at 20.3% vs est 18.5%

Buy Call, Target Rs 33,400 

Q1 Lower-than-expected Blended Realisation Leads To EBITDA Miss 

Adjusted For Merchant Power Sales, Cement EBITDA Should Be Around `904/t 

Capacity Expansion: On Track To Reach 74 mt By FY26 

Stock Is Currently Trading At 17.5x 1-Yr-Fwd EV/EBITDA

Equal-Weight Call, Target Rs 1,125 

Q1 Adjusted EBITDA Beat Estimates 

Core Business Profitability Was Strong, Despite Weak Disbursement Growth 

Adjusted EBITDA Loss At New Business Initiatives Narrowed 

Investor Focus Will Be On The Sustainability Of Premium Momentum & A Pickup In Credit Biz

Overweight Call, Target Rs 73.4

Renom Energy Services Acquisition: Strategic Entry Into Multibrand OMS 

Renom Is A Market Leader With 2.5GW Of Contracted Capacity 

Presence In Seven Windy States & Experience Of Maintaining Turbines Of 14 Different Makes 

Implied Valuation Of 4x Price To Sales, Cheaper Than Its Listed Peer

Downgrade To Underweight, Target Rs 550

Expect PpOP To Decline 7% YoY In FY25 & Rise 4% YoY In FY26 

There Is Downside Risks From Interest Rate Cuts 

Headline P/E Is Less Than 7x 

As Structural Pressures & Earnings Volatility Become Increasingly Evident, P/E Could De-rate Further 

View NIM & Loan Spread Expansion To Multi-yr High Levels That Co Saw In FY24 Is Unsustainable

Nomura on Gland Pharma

Downgrade To Reduce, Target Rs 1,819

Q1 Was A Weak Quarter

Break In Momentum Post Recovery In Past 4 Quarters

1Q Sales/EBITDA/PAT Missed Estimates By 12%/32%/32%

Ex-Cenexi, Revenues Missed Est By 18%

Lower Revenues & Milestone Income Led To Contraction In EBITDA Margin

CITI On Gland Pharma

Sell, TP Rs 1310

1Q below (26% EBITDA miss) as base biz injectable sales declined by 14% QoQ

A part of decline was due to lower milestone income, but US biz also felt pinch of increased competitive intensity reflecting in softness in vol as well as prices

Nomura on Lupin

Buy Call, Target Rs 1,952

Q1 Showed Healthy Growth Across Markets; Expansion Of EBITDA Margin

Q1 Sales/EBITDA/PAT 4%/9%/19% Higher Than Estimates

EBITDA Margin Up 527 bps YoY, 120 bps Higher Than Estimates

Adjusted For Glumetza Settlement Charges, EBITDA Margin Was 24.7% (Vs Reported 23.3%)

Co Now Has Net Cash Of Rs 19 Cr Vs `48 Cr Debt In Q4, & Rs 130 Cr Debt As At End Q1FY24

Macquarie on Lupin

O-P, TP Rs 1785

1Q rev/EBITDA/PAT beat est by 6%/18%/35%

Rev beat driven by higher-than-expected rev across all biz segments

EBITDA beat driven by better-than-expected rev, higher-than expected gross margin, & lower-than-expected R&D expenses

Jefferies on TVS Motors

Buy Call, Target Raised To Rs 3,000

Q1 EBITDA & Recurring PAT Grew 26-31% YoY To New Highs

Q1 EBITDA & Recurring PAT In-line With Est; EBITDA Margin Rose 10 bps QoQ To 11.5%

Co Should Be A Key Beneficiary Of 2W Demand Revival In Both Domestic And Export Markets

An Improving Franchise Should Also Drive Continued Margin Expansion

Co Has 3 Product Launches In India In H2CY24; Norton Launches Will Start By End-CY25

Expect EPS To More Than Double Over FY24-27

Macquarie on TVS Motors

Outperform Call, Target Rs 2,783

Q1 Gross Margin Surprises Positively

EBITDA Margin Improved To 11.5% — Highest Ever; However, In Line With Estimates

Multiple New Launches For H2FY25

Investment In Subsidiaries Key To Track From A Free-Cash-Flow Standpoint

CLSA on Tata Power

Underperform Call, Target Rs 297

Key Message From Q1 Was That Worst Of Mundra IPP Losses May Be On Weak Coal & Govt Advisory

Renewable Energy Independent Power Producers A Key Catalyst That Investors Look For

Continue To See Declines In PAT Due To Drops In Wind Utilisation Rates

Coal Profit Fell 69% YoY On A Decline In Seaborne Coal Prices

RE IPP Business Saw 12% Decline In Ex-treasury PAT On Lower Wind Utilisation Rates

RE EPC Business Did Well Due To Benign Solar Cell Prices

Stock Remains Expensive At A 35x CL25 PE

Jefferies on Tata Power

Underperform Call, Target Rs 325

Q1 PAT 13% Below Est Due To Lower Coal Mine Profitability

Mgmt Guidance Of `2,000 Cr Capex In FY25 Is At Higher End Of Earlier Plans In Renewables, T&D & Storage

Maintain Estimates As Solar Rooftop And EPC Can See Recovery Ahead

Remain Concerned On Execution Delays & Mundra Plant Issues

BoFA Sec on Tata Power

U-P, TP Rs 336

PAT up 32% YoY (beat BofAe by 7.4%) on operational efficiencies, tariff order in discoms & higher PLF at Mundra

Increased capex guidance to Rs200bn for FY25

RE ramp up on track

Val @3.4x 2yr fwd P/B seen expensive 

CLSA On PFC

Outperform Call, Target Rs 610

Q1 Net Profit Was Up 24% YoY, & 5% Ahead Of Estimates Primarily Due To Forex Gains

Loan Growth Was Slow At 10% YoY

Mgmt Indicated It Is Undergoing Transformation Projects, Which Should Settle Down Soon

FY25 Growth Guidance Of 12-15% Remains Unchanged

On Asset Quality, Co Has Neither Seen New NPA Formation Nor Any New Resolutions In Q1

One State Utility Has Slipped To Stage 2, Thus Provision Coverage Has Inched Up QoQ

Bernstein on PFC

Outperform Call, Target Rs 620

A Disappointing Quarter With Decline In Loan Book QoQ, But Mgmt Retained Their Guidance

Confident In Loan Book Growth Coming In & See This Quarter As A Temporary Blip

Visibility On Reversal Of Provisions Is Also Improving With A Good Bid Received For KSK Plant

Co’s Strategy To Hedge 100% Of Yen Borrowings As Of End Of Q1 Seems To Have Worked In Its Favour

RAJOO ENGINEERS LTD.

Bonus issue 1:1

Previous day Closing Price – Rs. 519.05

Ex Bonus 08 Aug 2024 (Tomorrow)

Last date Trade for Before Bonus Today

Top gainers on the NSE as at 9.30 am:

ONGC (4.62%), Coal India (3.12%), BPCL (2.91%), M&M (2.36%), Hero Motocorp (2.34%)

Top losers:

Asian Paints (-0.73%), Kotak Mahindra (-0.20%)

We had pencilled in yesterday, the prospects of a pause after the first leg of the recovery move ended at 24389. Hence, the turn lower did not come as a surprise, but the extent of the pull back did, which has allowed bears to regroup. This would mean that despite the downsides losing momentum on approach of the 50day SMA again, the dominant trend is still pointing down, and 23860 may not hold off a repeat attack. That said, MACD histogram in short periodicities provides a template for recovery attempts early today with 24067, 24154 and 24262 as objectives. However, with VIX near 19, all these upswings could be dismissed as volatility, until 24389 is reclaimed. 

Derivative outlook:

Nifty weekly contract has highest open interest at 25000 for Calls and 22300 for Puts while monthly contracts have highest open interest at 25000 for Calls and 24000 for Puts. Highest new OI addition was seen at 25000 for Calls and 22300 for Puts in weekly and at 24400 for Calls and 22300 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 6.05%, increased future index shorts by 5.50% and in index options by 24.87% increased in Call longs, 17.13% increased in Call short, 8.43% increased in Put longs and 5.66% decrease in Put shorts.

The Nifty Realty Index is up 1.7% in early trades with all constituents up in the range 0.1 to 2.7 per cent. Late on Tuesday the Centre moved an amendment for indexation proposal on real estate, with options to taxpayers to opt for a lower rate without indexation and higher rate with indexation.

Indexation adjusts the purchase price of an asset for inflation, thereby reducing the gains and, ultimately, the tax liability.

Crude oil futures traded higher on Wednesday morning despite the industry data showing an increase in crude oil inventories in the US. At 9.20 am on Wednesday, October Brent oil futures were at $76.57, up by 0.12 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $73.31, up by 0.15 per cent. August crude oil futures were trading at ₹6164 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday against the previous close of ₹6186, down by 0.36 per cent, and September futures were trading at ₹6098 against the previous close of ₹6126, down by 0.46 per cent.

Indian benchmark indices, Sensex and Nifty, opened higher on Wednesday, aligning with Asian markets as traders reassess U.S. recession fears. Realty stocks are in focus due to anticipated changes in the long-term capital gains (LTCG) indexation proposal. The 30-share BSE Sensex rose by 945.37 points to 79,538.44, while the NSE Nifty increased by 298.45 points to 24,291.

On Tuesday, both indices climbed about 1.2% but later reversed gains as profit-taking set in, with the Nifty and Sensex each losing about 4% over the last three sessions. Anand James, Chief Market Strategist at Geojit Financial Services, highlighted that while the Nifty’s recent pullback was anticipated, its extent was surprising. The dominant trend remains downward, with 23,860 likely facing another test. Recovery targets are set at 24,067, 24,154, and 24,262, but volatility may limit gains unless 24,389 is reclaimed.

Asian markets also saw gains, with Japan’s Nikkei 225 up 2.91% and the broader Topix surging 4.12%. South Korea’s KOSPI rose 1.20%. BOJ Deputy Governor Shinichi Uchida stated that interest rates would not increase amid financial instability, necessitating continued monetary easing to meet the 2% inflation target.

Overnight, U.S. markets rebounded, with the S&P 500 and Nasdaq rising 1% as investor concerns about a recession eased. The Dow Jones Industrial Average increased by 294.39 points, the S&P 500 by 53.7 points, and the Nasdaq Composite by 166.77 points.

L&T TECHNOLOGY; Altair and Company Establish Digital Twin Center of Excellence to Accelerate Global Innovation

CoE will cater to customers across mobility, hi-tech, and sustainability segments

RAJOO ENGINEERS LTD.

Bonus issue 1:1

Previous day Closing Price – Rs. 519.05

Ex Bonus 08 Aug 2024 (Tomorrow)

Last date Trade for Before Bonus Today

07 August 2024 (Today)

Derivative Segment

* Abbott India Ltd.

* Aditya Birla Fashion & Retail

* Apollo Tyres Ltd.

* Coromandel International 

* Dr. Lal Pathlabs Ltd.

* Godrej Consumer Products

* Pidilite Industries Ltd.

Cash Segment

* Balaji Amines Ltd.

* BASF India Ltd.

* BSE Ltd.

* BSE Ltd.

* Caplin Point Laboratories 

* CCL Products (India) Ltd.

* Chemplast Sanmar Ltd.

* Esab India Ltd.

* FDC Ltd.

* GMM Pfaudler Ltd.

* Gujarat Pipavav Port Ltd.

* Krishna Institute of Med Sciences

* Lemon Tree Hotels Ltd.

* NHPC Ltd.

* NLC India Ltd.

* NSE Ltd. 

* Radico Khaitan Ltd.

* Varroc Engineering Ltd.

* Welspun Corp Ltd.

08 August 2024

Derivative Segment

* ABB India Ltd.

* Astral Ltd.

* Bharat Forge Ltd.

* Biocon Ltd.

* Container Corp Of India

* Eicher Motors Ltd.

* MRF Ltd.

* Page Industries Ltd.

* Steel Authority Of India 

Cash Segment

* Alembic Pharma Ltd.

* Astrazeneca Pharma India 

* Bayer CropScience Ltd.

* Birla Corporation Ltd.

* Bombay Burmah Trading Corp

* Cochin Shipyard Ltd.

* Galaxy Surfactants Ltd.

* Garware Hi-Tech Films Ltd.

* Garware Technical Fibres Ltd.

* Global Health Ltd.

* Gujarat Alkalies & Chemicals 

* Gujarat State Petronet Ltd.

* Ircon International Ltd.

* Jash Engineering Ltd.

* Jash Engineering Ltd.

* JB Chemicals & Pharma Ltd.

* Life Insurance Corp of India

* Minda Corporation Ltd.

* Oil India Ltd.

* PCBL Ltd.

* Rail Vikas Nigam Ltd.

* Sobha Ltd.

* The New India Assurance Co

* Timken India Ltd.

09 August 2024

Derivative Segment

* Aarti Industries Ltd.

* Alkem Laboratories Ltd.

* Balkrishna Industries Ltd.

* Berger Paints India Ltd.

* Grasim Industries Ltd.

* Info Edge (India) Ltd.

* Jubilant FoodWorks Ltd.

* Sun TV Network Ltd.

* The India Cements Ltd.

* Trent Ltd.

* Zydus Lifesciences Ltd.

Cash Segment

* Bharat Dynamics Ltd.

* CE Info Systems Ltd.

* CESC Ltd.

* Cholamandalam Fin Holdings 

* Engineers India Ltd.

* General Insurance Corp of India

* Inox Wind Energy Ltd.

* Inox Wind Ltd.

* IRB Infrastructure Developers 

* Metro Brands Ltd.

* Mishra Dhatu Nigam Ltd.

* MMTC Ltd.

* Prism Johnson Ltd.

* Shipping Corporation Of India 

* SJVN Ltd.

* Star Cement Ltd.

* Suven Pharmaceuticals Ltd.

10 August 2024

Derivative Segment

* Aurobindo Pharma Ltd.

* Metropolis Healthcare Ltd.

Cash Segment

* APL Apollo Tubes Ltd.

* Finolex Cables Ltd.

* PNC Infratech Ltd.

* Vinati Organics Ltd.

12 August 2024

Derivative Segment

* Balrampur Chini Mills Ltd.

* Hindustan Copper Ltd.

* National Aluminium Co Ltd.

* Vodafone Idea Ltd.

Cash Segment

* AIA Engineering Ltd.

* Borosil Renewables Ltd.

* Campus Activewear Ltd.

* Cera Sanitaryware Ltd.

* Ester Industries Ltd.

* Happiest Minds Technologies 

* HUDCO Ltd.

* Indian Railway Finance Corp

* Ingersoll-Rand (India) Ltd.

* Man Industries (India) Ltd.

* Natco Pharma Ltd.

* Rashtriya Chemicals & Fertilizers 

* Uflex Ltd.

* Usha Martin Ltd.

13 August 2024

Derivative Segment

* Apollo Hospitals Enterprise 

* GNFC Ltd.

* Hero MotoCorp Ltd.

* Hindalco Industries Ltd.

* IRCTC Ltd.

* Ipca Laboratories Ltd.

* Manappuram Finance Ltd.

* Max Financial Services Ltd.

* Muthoot Finance Ltd.

* Samvardhana Motherson Int

Cash Segment

* Endurance Technologies 

* Godrej Industries Ltd.

* Gujarat Fluorochemicals 

* HEG Ltd.

* Jindal Worldwide Ltd.

* NBCC (India) Ltd.

* Rainbow Children’s Medicare 

* Ratnamani Metals & Tubes 

* Sammaan Capital Ltd.

* TCI Express Ltd.

* The Ugar Sugar Works Ltd.

14 August 2024

Derivative Segment

* Glenmark Pharmaceuticals 

* Hindustan Aeronautics Ltd.

* Voltas Ltd.

Cash Segment

* E.I.D. - Parry (India) Ltd.

* Mazagon Dock Shipbuilders 

* Polyplex Corporation Ltd.

* RHI Magnesita India Ltd.

21 August 2024

Derivative Segment

Nil

Cash Segment

* P&G Health Ltd.

28 August 2024

Derivative Segment

Nil

Cash Segment

* P&G Hygiene & Health Care 

29 August 2024

Derivative Segment

Nil

Cash Segment

* Gillette India Ltd.

Ex-Dividend 08 Aug 2024 (Tomorrow)

Last date for Cum-Dividend Today

Ecoplast Ltd.

Dividend Per Share Rs.3

Previous day Closing Price – Rs. 525.85

RITES Ltd

Dividend Per Share Rs.2.5

Previous day Closing Price – Rs. 689.5

Sealmatic India Ltd

Dividend Per Share Rs.1.1

Previous day Closing Price – Rs. 625.7

Goldman Sachs Asset Management 

Hiren Dasani, co-head of emerging markets equity:

Seeks Gains in Korea and India During Asian Stock Slump

Emphasized the potential in companies manufacturing auto ancillaries,chemicals, and power equipment in India.

Via Bloomberg

Bernstein on PFC: Maintain Outperform on Company, target price at Rs 620/Sh (Positive) 

CLSA on PFC: Maintain Outperform on Company, target price at Rs 610/Sh (Positive) 

Jefferies on PB Fintech: Maintain Buy on Company, raise target price at Rs 1500/Sh (Positive) 

MS on PB Fintech: Maintain Equal weight on Company, raise target price at Rs 1125/Sh (Positive) 

UBS on PI Ind: Maintain Buy on Company, raise target price at Rs 4800/Sh (Positive) 

Macquarie on TVS Motors: Maintain Outperform on Company, target price at Rs 2783/Sh (Positive) 

Jefferies on TVS Motors: Maintain Buy on Company, target price at Rs 3000/Sh (Positive) 

Nuvama on JTL Industries: Initiate Buy on Company, target price at Rs 303/Sh (Positive) 

Investec on Tata Power: Maintain Hold on Company, raise target price at Rs 467/Sh (Positive) 

Axis on Tata Power: Maintain Add on Company, raise target price at Rs 500/Sh (Positive) 

MOSL on Syrma SGS: Maintain Buy on Company, target price at Rs 540/Sh (Positive) 

MS on Suzlon: Maintain Overweight on Company, target price at Rs 73.4/Sh (Positive) 

Nomura on Shree Cement: Maintain Buy on Company, target price at Rs 33400/Sh (Neutral) 

Nomura on Lupin: Maintain Buy on Company, target price at Rs 1952/Sh (Neutral) 

Nomura on Cummins: Maintain Neutral on Company, target price at Rs 3470/Sh (Neutral) 

Citi on Bata India: Maintain Sell on Company, target price at Rs 1050/Sh (Neutral) 

Jefferies on Tata Power: Maintain Underperform on Company, target price at Rs 325/Sh (Neutral) 

Citi on TVS Motors: Maintain Sell on Company, target price at Rs 1600/Sh (Neutral) 

Citi on Bata India: Maintain Sell on Company, target price at Rs 1050/Sh (Negative) 

CLSA on Tata Power: Maintain Underperform on Company, target price at Rs 297/Sh (Negative) 

UBS on Cummins: Maintain Neutral on Company, target price at Rs 2190/Sh (Negative) 

Jefferies on Gland Pharma: Downgrade to Hold on Company, cut target price at Rs 2180/Sh (Negative) 

MS on LIC Housing: Downgrade to Underweight on Company, cut target price at Rs 550/Sh (Negative)

Bank of Japan (BOJ) Deputy Governor Shinichi Uchida said on Wednesday the central bank won’t raise interest rates when financial markets are unstable.

The recent strengthening of the yen would affect the BOJ’s policy decision because it reduces upward pressure on import prices, and therefore overall inflation, Uchida said.

Stock market volatility would also influence the central bank’s decision by affecting corporate activity and consumption, he said.

* RBLBANK 

* MANAPPURAM 

* LIC HOUSING 

* INDIAMART 

* INDIACEM 

* HINDCOPPER 

* GRANULES 

* GNFC 

* CHAMBAL 

* BSOFT 

* ABCAPITAL

AADHARHFC, ABBOTINDIA, ABFRL, AHL, AIIL, APOLLOTYRE, AUTOAXLES, BALAMINES, BANARISUG, BASF, CAPLIPOINT, CARERATING, CCL, CHEMPLASTS, COROMANDEL, DISAQ, ESABINDIA, FDC, GMMPFAUDLR, GODFRYPHLP, GODREJCP, GOKEX, GPIL, GPPL, HAPPYFORGE, HARSHA, ITDCEM, KIMS, KINGFA, KIRLOSENG, LALPATHLAB, LEMONTREE, NEOGEN, NHPC, NLCINDIA, OMINFRAL, PIDILITIND, RADICO, RSYSTEMS, SAFARI, SAKSOFT, SANGHVIMOV, SIGNATURE, SULA,



TALBROAUTO, TASTYBITE, TVSSRICHAK, UNOMINDA, VARROC, VENKEYS, VERANDA, WALCHANNAG, WELCORP, WPIL

ABBOTINDIA 

* Revenue expected at Rs 1582 crore versus Rs 1479 crore

* EBITDA expected to be seen at Rs 403 crore versus Rs 467 crore

* EBITDA margin expected to be seen at 25.47% versus 31.57%

* Net profit expected to be seen at Rs 326 crore versus Rs 290 crore

ABFRL 

* Revenue expected at Rs 3522 crore versus Rs 3256 crore

* EBITDA expected to be seen at Rs 315 crore versus Rs 292 crore

* EBITDA margin expected to be seen at 8.94% versus 31.57%

* Net profit expected to be seen at Rs (188) crore versus Rs (141) crore

APOLLOTYRE 

* Revenue expected at Rs 6395 crore versus Rs 6244 crore

* EBITDA expected to be seen at Rs 1005 crore versus Rs 1051 crore

* EBITDA margin expected to be seen at 15.71% versus 16.83%

* Net profit expected to be seen at Rs 377 crore versus Rs 410 crore

COROMANDEL 

* Revenue expected at Rs 4978 crore versus Rs 5693 crore

* EBITDA expected to be seen at Rs 543 crore versus Rs 709 crore

* EBITDA margin expected to be seen at 10.90% versus 12.45%

* Net profit expected to be seen at Rs 377 crore versus Rs 494 crore

GODREJCP 

* Revenue expected at Rs 3486 crore versus Rs 3448 crore

* EBITDA expected to be seen at Rs 749 crore versus Rs 642 crore

* EBITDA margin expected to be seen at 21.48% versus 18.61%

* Net profit expected to be seen at Rs 488 crore versus Rs 400 crore

GODFRYPHLP 

* Revenue expected at Rs 1170 crore versus Rs 1233 crore

* EBITDA expected to be seen at Rs 218 crore versus Rs 368 crore

* EBITDA margin expected to be seen at 18.63% versus 29.84%

* Net profit expected to be seen at Rs 240 crore versus Rs 293 crore

LEMONTREE 

* Revenue expected at Rs 269 crore versus Rs 222 crore

* EBITDA expected to be seen at Rs 126 crore versus Rs 104 crore

* EBITDA margin expected to be seen at % versus %

* Net profit expected to be seen at Rs 27 crore versus Rs 23 crore

NHPC 

* Revenue expected at Rs 2808 crore versus Rs 2757 crore

* EBITDA expected to be seen at Rs 1480 crore versus Rs 1504 crore

* EBITDA margin expected to be seen at 52.70% versus 54.55%

* Net profit expected to be seen at Rs 1091 crore versus Rs 1036 crore

PIDILITIND 

* Revenue expected at Rs 3491 crore versus Rs 3275 crore

* EBITDA expected to be seen at Rs 770 crore versus Rs 707 crore

* EBITDA margin expected to be seen at 22.05% versus 21.58%

* Net profit expected to be seen at Rs 519 crore versus Rs 468 crore

RADICO 

* Revenue expected at Rs 1120 crore versus Rs 953 crore

* EBITDA expected to be seen at Rs 137 crore versus Rs 119 crore

* EBITDA margin expected to be seen at 12.23% versus 12.48% 

* Net profit expected to be seen at Rs 68 crore versus Rs 68 crore

UNOMINDA 

* Revenue expected at Rs 3688 crore versus Rs 3092 crore

* EBITDA expected to be seen at Rs 395 crore versus Rs 330 crore

* EBITDA margin expected to be seen at 10.71% versus 10.67% 

* Net profit expected to be seen at Rs 208 crore versus Rs 172 crore

Q1FY25 EARNING CALENDAR 08.08.2024

ABB, AJMERA, APLLTD, ARTEMISMED,* ASTRAL*, ASTRAZEN, AVALON, AWHCL, AZAD, BAYERCROP, BHARATFORG, BHARATGEAR, BIOCON, BIRLACORPN, CARYSIL, COCHINSHIP, CONCOR, COSMOFIRST, DREAMFOLKS, EICHERMOT, EUREKAFORBE, GALAXYSURF, GREAVESCOT, GRSE, GSPL, GUJALKALI, HBLPOWER, HITECHCORP, IFCI, INDIASHLTR, IRCON, JGCHEM, KHADIM, KOPRAN, KPIGREEN, LICI, LUMAXIND, MEDANTA, MINDACORP, MRF, MUNJALAU, NIACL, NOCIL, OIL, PAGEIND, PCBL, RKSWAMY, RVNL, SAIL, SEAMECLTD, SHILPAMED, SNOWMAN, SOBHA, SUTLEJTEX, TALBROSENG, TEGA, TIMKEN, UNICHEMLAB, UNIPARTS, WABAG

Novo Nordisk A/S (Pre market) (Sector- Healthcare)

Walt Disney Company (Pre market) (Sector- Media)

CVS Health Corporation (Pre market) (Sector- Healthcare)

Shopify Inc (Pre market) (Sector- Technology)

Emerson Electric Company (Pre market) (Sector- Capital Goods)

Hilton Worldwide Holdings Inc (Pre market) (Sector- Hotels)

Coca-Cola Europacific Partners plc (Pre market) (Sector- FMCG)

Rockwell Automation, Inc. (Pre market) (Sector- Capital Goods)

Global Payments Inc. (Pre market) (Sector- Technology)

Zimmer Biomet Holdings, Inc. (Pre market) (Sector- Healthcare)

Brookfield Asset Management (Pre market) (Sector- Financial)

Warner Music Group Corp. (Pre market) (Sector- Media)

NiSource, Inc (Pre market) (Sector- Energy)

Bio-Techne Corp (Pre market) (Sector- Healthcare)

Dynatrace, Inc. (Pre market) (Sector- Technology)

Charles River Laboratories International, Inc. (Pre market) (Sector- Healthcare)

Ralph Lauren Corporation (Pre market) (Sector- Textiles)

Devon Energy Corporation(Post market) (Sector- Healthcare)

Equinix, Inc. (Pre market) (Sector- Realty)

Energy Transfer L.P. (Post market) (Sector- Energy)

Monster Beverage Corporation (Post market) (Sector- FMCG)

Occidental Petroleum Corporation (Post market) (Sector- Energy)

Manulife Financial Corp (Post market) (Sector- Financial)

Wheaton Precious Metals Corp. (Post market) (Sector- Metals)

Applovin Corporation (Post market) (Sector- Technology) 

Nutrien Ltd. (Post market) (Sector- Chemicals)

HubSpot, Inc. (Post market) (Sector- Technology)

Warner Bros. Discovery, Inc. (Post market) (Sector- Media)

Corpay, Inc. (Post market) (Sector- Financial)

Atmos Energy Corporation (Post market) (Sector- Energy)

Texas Pacific Land Corporation (Post market) (Sector- Energy)

Robinhood Markets, Inc. (Post market) (Sector- Technology)

Marathon Oil Corporation (Post market) (Sector- Energy)

Western Midstream Partners, LP (Post market) (Sector- Energy)

CF Industries Holdings, Inc (Post market) (Sector- Chemicals)

Sarepta Therapeutics, Inc. (Post market) (Sector- Healthcare)

U-Haul Holding Company (Post market) (Sector- Logistics)

Curtiss-Wright Corporation (Post market) (Sector- Definese)

Zillow Group, Inc. (Post market) (Sector- Realty)

CACI International, Inc. (Post market) (Sector- Technology)

Amdocs Limited (Post market) (Sector- Technology) 

BeiGene, Ltd. (TENT) (Sector- Healthcare)

TENT CHINA Trade Balance (Expected: 97.6B versus Previous: 99.1B)

TENT U.K. Bank Stress Test Report

The initial public offering of FirstCry’s parent Brainbees Solutions Ltd., which opened on Tuesday, witnessed a lukewarm response from investors. At the end of Day 1, the issue was subscribed just 0.11 times or 11 per cent. The IPO, with a price band of Rs 440-465 a share, will close on August 8.

The initial public offering of Softbank-backed SaaS platform Unicommerce saw a tremendous response from investors, as the issue subscribed within a few hours of opening.

The IPO, which has a price band of ₹102-108, was subscribed 2.43 times at the end of Day 1, as retail investors bid aggressively.

Buzzing stocks: Real estate stocks, SBI, Suzlon Energy, RECL, JHS Svendgaard, Aurobindo Pharma, Indian Hotels, Metro Brands, PNC Infratech, 360 One, SG Mart, Shradha AI Tech, Vashu Bhagnani, Ramky Infra

SATIN CREDITCARE NETWORK: Board meet to consider the fund raising proposal by way of issuance of listed, secured/unsecured, non- convertible debentures on private placement basis: 09 AUGUST

* FPIs were net buyers in July worth USD 3.87bn with buying seen in 9 out of 14 sectors.

* Highest buying was seen in IT (~USD 1.4bn) and metals & mining (~USD 874mn; VEDL QIP) while financials (~USD 913mn) and power (~USD 456mn) saw highest selling.

* Cap goods (USD 335mn) has now seen inflows for eighteen straight months. Also telecom saw inflows (~USD 375mn) for the fifth successive month.

* Cement & construction saw outflows (~USD 102mn) for the fourth consecutive month.

* In the last 12 months, cap goods (~USD 5.6bn) has seen highest inflows, while bank & finance (~USD 5.2bn) saw highest outflows.

Turnover: (NSE + BSE)

Cash Volume: 124789.1 + 8818.39 Total: 133607.5

F&O Volume: 480972.4 + 220440.8 Total: 701413.2

Provisional Cash

FII/FPI: NET SELL: -3531.24 

(14389.37 - 17920.61) 

DII: NET BUY: +3357.45 

(14422.78 - 11065.33)

GUJARAT TOOLROOM ; Gujarat Toolroom Ltd.’s Dubai subsidiary, GTL Gems DMCC, has secured a substantial impex order valued at AED 50 million, approximately INR 1.14 billion. 

Co. Says This order, with an anticipated profit margin ranging from 5% to 7.5%, underscores our subsidiary’s strong position in the international market and its growing operational capacity.

INOX WIND: CO RECEIVES ORDER FROM INTEGRUM ENERGY INFRASTRUCTURE LTD. FOR 201 MW EQUIPMENT SUPPLY || PROJECT TO BE EXECUTED ACROSS FOUR STATES

The stock idea that we have for you today is IDFC First Bank. The stock has been in a strong downtrend since September last year. This downtrend is intact and there is more room to fall from here.

The outlook for IDFC First Bank is bearish. This stock has been in a strong downtrend since September last year. This downtrend is strong and intact. The price action this week indicates that the stock has been getting strong resistance around ₹73.45. 

FMCG companies are betting big on a volume-led growth revival in the coming months and said they have begun witnessing green shoots visible in terms of revival of rural consumption. This comes on the back of moderate inflationary pressures and expectations of better monsoons among other factors. 

SEBI has proposed to discontinue the existing exceptions related to use of derivatives by issuers of offshore derivative instruments (ODI). The regulator has also proposed to mandate issuance of ODIs through a separate dedicated FPI registration where no proprietary investments will be permitted.

ICICI Securities

Target: ₹800

CMP: ₹707.20

Archean Chemical Industries (ACI) has reported weak Q1-FY25 print with revenue decline across segments, due to lower volumes and realisations in salt and bromine segments. However, it remains confident of delivering good volumes in FY25 – elemental bromine sales (including captive) of 22-25kte (vs 17.5kte in FY24); industrial salt volumes at 4.5 mnte (vs 4.3 mnte in FY24) and ramp-up in second-grade SOP. 

PL Capital

Target: ₹660

CMP: ₹652.50

LIC Housing Finance saw a mixed quarter as NII missed PL expectation (PLe) by 12 per cent, which was offset by lower provisions at 20bps (PLe 61bps). NIM declined by 37 bps q-o-q due to lower interest on recoveries on account of softer collection efficiency led by seasonality and repricing pressure, especially on higher priced loans, due to competitive intensity. 

The host of measures proposed to curb retail frenzy in derivatives trading, the increase in securities transaction tax (STT) on F&O and making it mandatory for Market Infrastructure Institutions (MIIs) to implement ‘true to label’ charges to ensure fairness in fee structures may lead to a meaningful decline in F&O volumes, said a report by ICRA. 

The Securities and Exchange Board of India (SEBI) has proposed to ease norms for registered investment advisers and research analysts.

IAs and RAs will be required to obtain the base NISM certifications only at the time of registration, without requiring a renewal every three years. After this, they will need to obtain a certification based only on the incremental changes or developments during the previous three years or a period as specified.

Asian stocks traded mixed after a surge in dip buying sparked a global rebound on Tuesday. Japan’s Nikkei 225 index fell 1.48%, or 514.67 points, to 34,160.79 in early trading. The broader Topix index was nearly flat, with a slight increase of 0.18%, or 4.48 points, to 2,438.69. South Korea’s KOSPI rose 1.20%, or 30.16 points, to 2,552.31.

Overnight, the S&P 500 and Nasdaq both climbed 1% as investors returned to the market following a sharp sell-off. Federal Reserve officials’ recent comments eased U.S. recession concerns. The Dow Jones Industrial Average gained 294.39 points, or 0.76%, to 38,997.66, the S&P 500 added 53.7 points, or 1.04%, to 5,240.03, and the Nasdaq Composite increased by 166.77 points, or 1.03%, to 16,366.86.