Pre Market update for 20 July 2022
@AlliesFin Telegram.me/AlliesFin*SGX Nifty +137 pts (16475) from last trade 16338 ,*
Nikkei +564 pts ,
Hangseng +307 pts ,
Now @6.52am .
Dow +754.44 pts ,Nsdq +353.10 pts, S&P
+105.84 pts, Bovespa +1328 pts , Ftse +73 pts , Dax +348 pts , Cac +109 pts , Crude @ $103.60 brl (-0.62), Brent @ $107.03 brl (-0.36) , Gold @ 1709.30 (-1.30), Silver @ $18.725 (+0.01), Euro @ $1.0241, JPY @ $138.17, INR @ 79.855
*Today's Corporate Action*
*20th July Ex Date*
ADORFO
Final Dividend - Rs. - 3.0000
ADORFO
Special Dividend - Rs. - 1.0000
ADSL
Final Dividend - Rs. - 1.0000
CORALFINAC
Final Dividend - Rs. - 0.3000
DOLLAR
Dividend - Rs. - 3.0000
GOACARBON
Dividend - Rs. - 10.0000
GPTINFRA
Final Dividend - Rs. - 1.5000
HINDZINC
Interim Dividend - Rs. - 21.0000
INDAG
Final Dividend - Rs. - 1.5000
IVP
Final Dividend - Rs. - 1.5000
M&MFIN
Dividend - Rs. - 3.6000
NOCIL
Final Dividend - Rs. - 3.0000
NOVARTIND
Final Dividend - Rs. - 10.0000
ORIENTCEM
Final Dividend - Rs. - 1.7500
PANAENERG
Final Dividend - Rs. - 7.5000
SCANDENT
Dividend - Rs. - 0.1000
SUNSHIEL
Dividend - Rs. - 2.0000
SWELECTES
Final Dividend - Rs. - 3.0000
TATAMETALI
Final Dividend - Rs. - 8.0000
TIINDIA
Final Dividend - Rs. - 1.5000
USHAMART
Final Dividend - Rs. - 2.0000
VGUARD
Final Dividend - Rs. - 1.3000
WEIZMANIND
Final Dividend - Rs. - 0.5000
*Today's Key Results/Board Meetings*
*20-Jul-22*
ADHBHUTIN
General
ATFL
Quarterly Results
BENARAS
General;Quarterly Results
CARERATING
Buy Back of Shares
CEATLTD
General;Quarterly Results
CENTURYPLY
General;Quarterly Results
CHANDRAP
General;Quarterly Results
CYBERTECH
Quarterly Results
DEL
Quarterly Results
EIMCOELECO
General;Quarterly Results
ESSENTIA
A.G.M.;Increase in Authorised Capital;General;Quarterly Results
GLAND
Quarterly Results
GOODLUCK
Issue Of Warrants
GVBLQuarterly Results
HALDER
General
HATHWAY
Quarterly Results
HAVELLS
Quarterly Results
INDUSINDBK
Quarterly Results
ISWL
Audited Results
JSWISPL
General;Quarterly Results
KIRANSY-B
Quarterly Results
LLOYDSTEEL
General;Quarterly Results
MASTEK
Quarterly Results
MAXHEIGHTS
A.G.M.
MEHAI
Quarterly Results
MENONBE
Interim Dividend;Quarterly Results
MIC
A.G.M.;General;Quarterly Results
MNIL
Quarterly Results
NEWGEN
General;Quarterly Results
OFSS
Quarterly Results
PANTH
Bonus issue
RANEENGINE
Quarterly Results
RIIL
Quarterly Results
RLF
A.G.M.;Quarterly Results
SAGCEM
Quarterly Results
SASKEN
Audited Results;General;Quarterly Results
SDBL
A.G.M.;Dividend;
STYLAMIND
Quarterly Results
SUNLOC
General;Quarterly Results
SYNGENE
Quarterly Results
TAAZAINT
Quarterly Results
TATACOMM
Quarterly Results
WIPRO
Audited Results
ZDHJERK
General
ZEAL
A.G.M.;General
ZENLABS
Interim Dividend;Quarterly Results
*Stock under F&O ban on NSE*
*20-Jul-22*
1DELTACORP
• India ‘Stands Ready’ to Act As Fed Tightens: Finance Ministry
• India to Adopt 4-Tier Regulatory Framework for Urban Co- Op Banks
• Unilever’s India Unit Beats Profit Estimate Aided by Price Hikes
o Revenue jumped 20% beating est., while costs up 21%
• Airbus, Boeing Court Air India in Blockbuster Aircraft Upgrade
o Airline may split major order between two arch rivals
• India Doesn’t Target Any Particular Level for Rupee, Seth Says
• Indian Rupee Drops to Another Record Low as Foreign Funds Exit
• Pakistan Ruling Alliance Rejects Imran Khan’s Early Vote Call
• Pakistan Rupee Drops to Record, Bonds Fall as Fitch Cuts Outlook
• UPS Expands Cargo Services in India to Seize Airfreight Boom
• India’s DGCA Grounds Two Go First A320 Aircraft After Incidents
• India’s SEBI Says Pramod Rao Takes Charge as Executive Director
• Vedanta to Pay $907 Million Dividend in Boost to London Parent
• India Cumulative Monsoon Rainfall 12% Above Normal as of July 19
• Global Funds Buy Net INR9.76B of India Stocks on Tuesday: NSE
o Domestic funds sell net 1.01b rupees of stocks
• Foreign Investors Buy Net INR2.2B of Indian Equities on Monday
• Foreigners Sell Net INR8.95B of India Equity Derivatives Tuesday
• PharmEasy in Talks to Raise $200m at Lower Valuation: Reuters
• Ambuja Cements (ACEM): 2Q Net Income +45% Y/y to 10.5b rupees, beats est. 5.72b; revenue +18% to 39.9b
• Grasim Industries (GRASIM): To Invest $250M to Launch Building Materials E-Comm Ops
• Hindustan Unilever (HUVR): 1Q Net Income 22.9 billion rupees, +11% y/y, beats est. 22.1b; revenue +20% to 140.2b
• ICICI Lombard (ICICIGI): 1Q net income +80% Y/y to 3.49b rupees, misses est. 3.88b; Gross written premiums +30% to 55.3b
• L&T Finance (LTFH): 1Q net income +47% Y/y to 2.62b rupees, misses est. 3.08b; revenue -3.5% to 29.9b
• Karnataka Bank (KBL): Meet on July 23, to consider capital augmentation plans at AGM
• Krsnaa Diagnostics (KRSNAA): Wins Rajasthan tender for CT Scan Center
• Network 18 (NETM): 1Q Net Loss 33.2M Rupees Vs. Profit 95.7M Rupees Y/y
• NTPC (NTPC): Signed pact to supply renewable power to Indian Oil plant
• Parag Milk (PARAG): Approves raising 1.13b rupees via preferential issue of 12m shares at INR93.75 each and preferential issue of 2m convertible warrent
• Rallis India (RALI): 1Q Net Income -18% Y/y to 674.4m rupees, misses est. 770.7m; revenue +16% to 8.63b
• Thermax (TMX): To invest up to INR99.99m in Covacsis Technologies
• Vedanta (VEDL): To pay $907m 2nd mid-year dividend at 19.5 rupees/share
• Vodafone Idea (IDEA): To consider shares or warrant issue to founder entity on July 22
• Wipro (WPRO): Completed 6-acquisitions in last few qtrs, focusing large deal: Chairman Premji said at AGM
*Very Good Morning!!!*
*US Markets in Detail...*
*SGX: 16,452: +114: +0.70%*
*Provisional Cash Rs. In Crs. (19th July)*
FIIs: +976 (6,178 – 5,201)
DIIs (-101) (5,086 – 5,186)
*Today’s Major Corporate Earnings:*
ATFL, CEATLTD, CENTURYPLY, GLAND, HATHWAY, HAVELLS, INDUSINDBK, ISWL, JSWISPL, NEWGEN, OFSS, RIIL, SAGCEM, TATACOMM, WIPRO, etc
Sensex: 54,768 +246: +0.45%
Nifty: 16,341: +62: +0.38%
BankNifty: 35,720: +362: +1.95%
NiftyIT: 27,346: +23: +0.08%
MIDCAP: 23,352: +157: +0.68%
Dow: 31,827: +754: +2.43%
S&P: 3,937: +106: +2.76%
Nas: 11,713: +353: +3.11%
Brazil: 98,245: +1,329: +1.37%
Ftse: 7,296: +73: +1.01%
Dax: 13,308: +349: +2.69%
Cac: 6,201: +109: +1.79%
MOEX: 2,071 (-25) (-1.20%)
WTI Oil: $104.2: +1.6: +1.6%
Brnt: $107.25: +1: +0.9%
Gold: $1,711: +0.5: +0.03%
Silver: $18.71 (-0.67%)
Copper: $329 (-5.5) (-1.6%)
Copper (LME): $7,427: +236: +3.28%
Alluminum (LME): $2,427: +84: +3.6%
Zinc (LM): $3,006: +91: +3.12%
Tin (LME): $24,719 (-131) (-0.53%)
Eur-$: 1.0230
GBP-$: 1.2002
Jpy-$: 138.19
Re: 79.9487 (-0.04%)
USD- RUB: 56.50: +0.7%
US10yr: 3.02%
GIND10YR: 7.434 (-0.04%)
$ Index: 106.6880 (-0.63%)
US Vix: 24.50 (-3.16%)
India Vix: 17.20: +0.23%
BalticDry: 2,162: +12: +0.56%
*ADR/GDR*
Cogni: +3.56%
Infy: +1.46%
Wit: +2.57%
IciciBk: +2.88%
HdfcBk: +2.51%
DrRdy: +1.37%
TataMo: +2.29%
TatSt: +1.78%
Axis: +2.81%
SBI: +2.30%
RIGD: +0.91%
INDA: +1.85% (IShares MSCI INDIA ETF)
INDY: +2.03% (IShares MSCI INDIA 50 ETF)
EPI: +2.10% (Wisdom Tree India Earning)
PIN: +1.42% (Invesco India Etf)
*Stock futures edge higher following Dow rally, better-than-expected Netflix earnings. Netflix surged more than 7% in after-hours trading after saying it lost only 970,000 subscribers in the second quarter, less than the 2 million it had previously projected.*
*Dow closes 750 points higher as stocks surge, small caps see biggest advance in 18 months as investors assessed the outlook for earnings and as speculation grew that markets may have come close to bottoming out.*
*All three major averages are above their 50-day moving averages for the first time since April. The broader market index has gained almost 7.4% off its June 16 closing low.*
Investors are betting that stocks have reached a bottom after their steep declines this year, and as the latest round of earnings reports showed businesses are working through economic pressures better than feared in the second quarter.
*U.S. stocks closed with sharp gains on Tuesday as more companies joined big banks in reporting earnings that beat forecasts, offering respite to investors worried about higher inflation and a tightening Fed denting the corporate bottomline. Earnings have come in better than lowered expectations. So we're not seeing the bite of tighter monetary policy and inflation impacting revenue as much as feared. A strong dollar also weighed on shares of IT hardware and services company*
*The U.S. dollar marked its third straight day of declines as markets reduced the odds of a full percentage-point Federal Reserve rate hike this month. Spiraling inflation initially led markets to price in a 100-basis-point hike in interest rates at the upcoming Fed meeting later this month, until some policymakers signaled a 75-basis-point increase*
In this earnings season, analysts expect aggregate year-on-year S&P 500 profit to grow 5.8%, down from the 6.8% estimate at the start of the quarter.
U.S. stocks rose sharply Tuesday, with the main benchmarks seeing their strongest advance in a month, while small caps recorded their best performance in more than 18 months.
The Russell 2000 rose 60.90 points, or 3.5%, to 1,799.32, its strongest daily advance since Jan. 6, 2021
*The S&P 500 defied the late-day reversal that has been a cornerstone of this volatile market, closing near session highs in its biggest one-day gain since June 24 as all 11 industry groups advanced.* The tech-heavy Nasdaq 100 outperformed major benchmarks, ending 3.1% higher, with megacaps Apple Inc. and Alphabet Inc. bouncing back from Monday’s losses losses ahead of Netflix Inc.’s earnings. In extended trading, Netflix Inc gained after reporting a second-quarter subscriber loss that was less than expected.
*Stocks favoured by short sellers were among the biggest gainers on the day, suggesting that bearish traders were forced to cover positions moving against them.*
On Monday, the Dow Jones Industrial Average fell 216 points, or 0.7%, erasing an earlier gain of more than 350 points. The S&P 500 and Nasdaq Composite each fell 0.8%. The S&P 500 has fallen six of the last seven sessions and has shed 19.6% year-to-date.
*Volume on U.S. exchanges was 10.95 billion shares, compared with the 11.76 billion average for the full session over the last 20 trading days.*
*What drove markets*
*With the potential for earnings disappointments baked into markets, any upside surprises may lead to outsized gains. Investors remain on high alert for signs that high inflation and monetary tightening are squeezing consumers and employment, with allocation to stocks plunging to levels last seen in October 2008 and exposure to cash surged to the highest since 2001, according to the latest Bank of America Corp.’s monthly fund manager survey.*
*Deepening pessimism among investors could serve as a contrarian signal, setting the stage for some near-term upside, analysts said. A closely watched monthly survey by Bank of America showed global fund managers at their most pessimistic since 2008.*
Earnings, so far, there’s been some caution and there’s been a little bit of dialing down of expectations, but I don’t think the worst-case scenarios are really in play anymore,” Shawn Cruz, head trading strategist at TD Ameritrade, said in an interview. “We’ve heard from the big banks, we’ve heard from IBM, we’ve heard from Johnson & Johnson, we’ve heard from enough companies that have had a big enough footprint that if there is something at the macro level severely impacting these businesses, it would have shown up in a lot of these earnings.”
*Both investors and the companies were expecting hot inflation, so companies talking about hot inflation having happened in that second quarter was not a surprise at all. What was a surprise was that they were able to manage through it well.*
*Investor sentiment has worsened to a point that some on Wall Street believe markets are set up for a relief rally ahead. Investors’ panic may have teed up a fantastic buying opportunity, according to a Bank of America survey of professional investors on Tuesday. Indeed, survey participants’ bearishness suggests that the sellers are washed out, and stocks may rise from here.*
*The Bank of America survey found that the allocation to stocks in portfolios is at its lowest since October 2008, one month after the collapse of Lehman Brothers, while cash holdings are the highest since 2001.*
Fundamentals poor but sentiment says stocks/credit rally in coming weeks.
Still, some analysts continued to recommend investors prepare for more losses ahead.
″[While] I acknowledge sentiment is bad and we could see a large, tactical rally, I am currently more concerned about protecting downside than missing upside, in the aggregate,” Wedbush analyst Kevin Merritt wrote in a Tuesday note.
As of Tuesday morning, roughly 9% of S&P 500 companies have reported calendar second-quarter earnings. Of those, about two-thirds have beaten analyst expectations, FactSet data shows.
Also on the earnings front, *Hasbro Inc*., the largest US toy company, gained after earnings beat analyst estimates, while *International Business Machines Corp*. fell as the tech company lowered its forecasts for free cash flow. Johnson & Johnson reversed early gains as it lowered its earnings and revenue forecast for the year.
Kristina Hooper, chief global market strategist at Invesco, told MarketWatch that stocks were well-positioned for a rebound as corporate earnings reports haven’t been as gloomy as many had feared, while the easing of the dollar has added to tailwinds for U.S. stocks.
“We haven’t heard doom-and-gloom prognostications just yet,” Hooper said, describing the general tone of corporate earnings reports as the second quarter reporting season moves past the big banks.
Stocks have also benefited from the decline in long-term inflation expectations expressed by the University of Michigan sentiment data released late last week, according to Hooper.
*More market commentary:*
# “Stocks have been beaten down,” Kristina Hooper, chief global market strategist at Invesco, wrote in a note. “That doesn’t mean we won’t see more downside for some stock markets around the world, especially given that earnings expectations are likely to be adjusted downward. But I believe we are far closer to the bottom than the top.”
# “There is a growing feeling in the market that the gradual and cautious normalization process the ECB started at the end of 2021 has been the wrong decision and that to make up for that slow and late,” wrote Fawad Razaqzada, market analyst at City Index. “Indeed, even until its June meeting, the ECB was pre-committing to a 25-basis point hike in July. But with the broad weakening of the euro helping to import more inflation in the eurozone, the ECB could surprise with a 50 bp hike.”
# “Sharp dollar pullback has boosted equities,” Christopher Murphy, co-head of derivatives strategy at Susquehanna International Group, wrote in a note.”But the dollar rally was extended and due for a pullback (it can’t go up in a straight line) just like it was in late April. If the dollar pullback is temporary, the equity rally might be as well.”
The tone turned more positive Tuesday following a report Monday suggesting Apple AAPL, +2.67% was slowing hiring and spending which revived concerns that higher borrowing costs and rampant inflation were damping corporate confidence.
However, *International Business Machines Corp*. reported “strong” results, which weighed on the company’s shares even as they appeared to bolster the outlook for stocks. The rest of the earnings picture from Tuesday was decidedly mixed.
*IBM* results were not well-received, however. The tech company beat expectations, but worries about how a strong dollar may impact future earnings pushed the stock lower by 6.1%.
Tuesday’s rally, on track to potentially be the largest daily gain for stocks since June 24, was led by the tech-heavy Nasdaq Composite, as megacaps Apple and Alphabet bounced back from Monday’s losses. All of the S&P 500’s 11 sectors were in the green, with communication services, financials, industrials and consumer discretionary sectors up 3% or more.
Looking ahead, investors awaited earnings from Netflix Inc. Investors want to see if the company’s outlook for subscriber growth has improved following a Wall Street Journal report that the company is engaging with potential advertisers for a planned lower-cost advertising-subsidized tier of content.
*Underpinning sentiment, however, and helping deliver gains on Tuesday, is a mostly positive second-quarter earnings reporting season, where 57% of those companies to have reported so far have beaten earnings per share and revenue expectations, according to S&P Global Market Intelligence.*
*Meanwhile, the U.S. dollar retreated against the euro following reports that the European Central Bank is planning to interest rates by 50 basis points later this week, instead of the 25 it had initially signaled to counter worsening inflation. The euro EURUSDwas up 0.5% against the dollar Tuesday afternoon.*
Markets are pricing in about 38 basis points of tightening on Thursday, when the ECB is expected to raise rates for the first time in more than a decade. That reflects about a 50/50 chance of a 50-basis point increase.
*The ECB is under pressure to subdue inflation, but the potential for a Russian gas shutdown could plunge Europe into recession. The European Union is preparing to tell members to cut gas consumption “immediately” to preserve supplies for winter, according to a report. Gazprom PJSC was said to be poised to restart gas exports through the Nord Stream pipeline on Thursday at reduced capacity.*
*Concerns about economic growth are reflected in the U.S. bond market, too. As the Federal Reserve has tightened monetary policy, investors have pushed 2-year yields above 10-year yields , an inversion of the yield curve that is deemed a harbinger of potential recession. The curve remained inverted Tuesday even as the 10-year Treasury advanced 5.8 basis points to 3.017%.*
*Data showed U.S. housing starts fell 2% in June, while building permits were down 0.6%. Companies in focus*
Elsewhere, oil rebounded, with West Texas Intermediate crude rising to $104 a barrel, while a rally in cryptocurrencies took Bitcoin out of a one-month-old trading range, up above $23,000.
*Single-stock movers*
• Shares of *Johnson & Johnson traded lower* after the pharmaceutical and consumer health products company reported second-quarter profit and sales that beat expectations, offsetting a reduced full-year earnings outlook. Shares were down 1.%.
• Aerospace and defense contractor *Lockheed Martin Corp.* on Tuesday reported second-quarter results that missed analysts’ profit and sales estimates. Shares finished 0.8% higher.
• Shares of *Arista Networks Inc. rose 4.2%* after a Needham analyst upgraded the stock to buy from hold Tuesday, citing the company’s comparatively low international exposure and strong financial position.
• *Hasbro shares climbed 0.7%* after the toymaker’s earnings per share beat analyst expectations, though its revenue for the previous quarter were below expectations.
• Shares of *Halliburton rose 2.1%* after the oilfield services provider posted a 41% increase in quarterly adjusted profit
• *Truist Financial Corp* also beat market estimates for quarterly profit, sending the bank's shares up 2.6%.
U.S. crude futures gained 1.6% to trade above $100 a barrel following reports that Russia’s Gazprom had claimed force majeure on some buyers highlighted tensions in the energy space.
Asia markets were mixed following Wall Street’s overnight reversal. Hong Kong’s Hang Seng fell 0.9% and the Shanghai Composite was flat. Japan returned from a day off to play catch-up, the Nikkei 225 NIK, +0.65% adding 0.7%.
European stocks closed sharply higher Tuesday, with a late afternoon surge aided by positive momentum on Wall Street.
*All eyes this week will turn to the European Central Bank’s policy meeting in Frankfurt on Thursday, with policymakers having given advance notice of a first hike in 11 years but facing a backdrop of slowing growth amid the war in Ukraine and subsequent threats to energy supplies.*
*The euro climbed to almost a two-week high and euro zone government bond yields jumped on Tuesday morning after Reuters reported, citing a source, that the ECB will weigh up whether to opt for a 50 basis point hike as opposed to the 25 basis points already penciled in.*
*Euro zone inflation hit 8.6% year-on-year in June, final figures confirmed on Tuesday.*
It would, however, be consistent with what markets are expecting in terms of policy direction over the coming few weeks from major central banks. It’s a big week in Europe, for both macro and markets; the ECB announcement will drive sentiment.
*Political instability has also returned to prominence, with the U.K. Conservative Party leadership contest entering its fourth round of ballots among MPs as the remaining candidates seek to succeed Prime Minister Boris Johnson.*
The turbulence comes as the U.K. on Tuesday recorded a record 2.8% fall in real wages despite the labor market continuing to run how.
The number of vacancies fell very slightly on the last reading, which means we may have just crested off the back of the peak and could start to see some normalisation of the labour market
But the big concern is that the higher wages paid by the private sector will serve to entrench inflation, while the small pay rises witnessed in the public sector in the face of soaring prices will continue to stoke industrial tensions.
*Key events to watch this week:*
# Earnings this week include Netflix, Tesla
# US Treasury Secretary Janet Yellen visits South Korea. Tuesday
# Reserve Bank of Australia releases July minutes. Tuesday
# UK Chancellor Nadhim Zahawi and Bank of England Governor Andrew Bailey speak at event. Tuesday
Bloomberg Crypto Summit in New York. Tuesday
# Bank of Japan, European Central Bank rate decisions. Thursday
# Nord Stream 1 pipeline scheduled to reopen following maintenance. Thursday
*Currencies*
# The Bloomberg Dollar Spot Index fell 0.5%
# The euro rose 0.8% to $1.0225
# The British pound rose 0.4% to $1.2000
# The Japanese yen was little changed at 138.22 per dollar
*Bonds*
# The yield on 10-year Treasuries advanced four basis points to 3.02%
# Germany’s 10-year yield advanced six basis points to 1.28%
# Britain’s 10-year yield advanced two basis points to 2.18%
*Commodities*
# West Texas Intermediate crude rose 1.3% to $103.96 a barrel
# Gold futures were little changed.
Result at a Glance_July 19, 2022
Hindustan Unilever Ltd.: Net Revenue at Rs. 14624.0 crore, +19.9% YoY, and+6.2% QoQ. EBITDA at Rs. 3402.0 crore, +16.5% YoY and +3.1% QoQ. EBITDA Margin at 23.3%, -69 bps YoY and -71 bps QoQ. Net Profit at Rs. 2391.0 crore, +13.9% YoY and +3.7% QoQ.
HDFC Life Insurance Co Ltd.: Total Income at Rs. 6680.2 crore, -54.3% YoY and -62.2% QoQ. Net Profit at Rs. 328.8 crore, +22% YoY and -35% QoQ.
Ambuja Cements Ltd.: Net Revenue at Rs. 8032.9 crore, +15.1% YoY, and+1.7% QoQ. EBITDA at Rs. 1114.9 crore, -39% YoY and -21.7% QoQ. EBITDA Margin at 13.9%, -1231 bps YoY and -415 bps QoQ. Net Profit at Rs. 865.4 crore, -25.5% YoY and +1% QoQ.
ICICI Lombard General Insurance Company Ltd.: Total Income at Rs. 3978.3 crore, +3.8% YoY and -14.2% QoQ. Net Profit at Rs. 349.0 crore, +79.6% YoY and +11.7% QoQ.
Polycab India Ltd.: Net Revenue at Rs. 2736.6 crore, +47.5% YoY, and-31.1% QoQ. EBITDA at Rs. 311.1 crore, +131.8% YoY and -34.7% QoQ. EBITDA Margin at 11.4%, +413 bps YoY and -63 bps QoQ. Net Profit at Rs. 222.5 crore, +201.9% YoY and -31.6% QoQ.
Hatsun Agro Product Ltd.: Net Revenue at Rs. 2014.6 crore, +30.9% YoY, and+23.9% QoQ. EBITDA at Rs. 178.2 crore, -2.5% YoY and +12% QoQ. EBITDA Margin at 8.8%, -304 bps YoY and -93 bps QoQ. Net Profit at Rs. 52.0 crore, -20% YoY and +26.7% QoQ.
L&T Finance Holdings Ltd.: NII at Rs. 1575.2 crore, +2% YoY and +1.3% QoQ. Net Profit at Rs. 221.7 crore, +70.6% YoY and -23.6% QoQ.
DCM Shriram Ltd.: Net Revenue at Rs. 2971.8 crore, +48% YoY, and+3.4% QoQ. EBITDA at Rs. 436.0 crore, +54.1% YoY and -31.3% QoQ. EBITDA Margin at 14.7%, +58 bps YoY and -741 bps QoQ. Net Profit at Rs. 254.0 crore, +60.9% YoY and -36.7% QoQ.
Network 18 Media & Investments Ltd.: Net Revenue at Rs. 1339.9 crore, +10.3% YoY, and-17.3% QoQ. EBITDA at Rs. 46.2 crore, -75.5% YoY and -82.6% QoQ. EBITDA Margin at 3.4%, -1206 bps YoY and -1295 bps QoQ. Net Profit at Rs. 39.5 crore, -67.5% YoY and -81.2% QoQ. Ashika
TV18 Broadcast Ltd.: Net Revenue at Rs. 1265.1 crore, +9.5% YoY, and-15.5% QoQ. EBITDA at Rs. 57.8 crore, -69.2% YoY and -77.3% QoQ. EBITDA Margin at 4.6%, -1167 bps YoY and -1241 bps QoQ. Net Profit at Rs. 60.0 crore, -63.1% YoY and -72.8% QoQ.
Rallis India Ltd.: Net Revenue at Rs. 862.8 crore, +16.5% YoY, and+70% QoQ. EBITDA at Rs. 112.7 crore, -7.3% YoY and Rs. -2.8 crore QoQ. EBITDA Margin at 13.1%, -335 bps YoY and +1362 bps QoQ. Net Profit at Rs. 67.5 crore, -18.1% YoY and Rs. -14.2 crore QoQ. Ashika
Share India Securities Ltd.: Net Revenue at Rs. 230.7 crore, +54.2% YoY, and-21.2% QoQ. EBITDA at Rs. 77.0 crore, +52.1% YoY and -30.3% QoQ. EBITDA Margin at 33.4%, -48 bps YoY and -434 bps QoQ. Net Profit at Rs. 59.2 crore, +73.1% YoY and -22.2% QoQ.
Steel Strips Wheels Ltd.: Net Revenue at Rs. 1016.1 crore, +49.8% YoY, and-4.4% QoQ. EBITDA at Rs. 109.3 crore, +11.8% YoY and -1.8% QoQ. EBITDA Margin at 10.8%, -366 bps YoY and +28 bps QoQ. Net Profit at Rs. 48.1 crore, -5.8% YoY and -1.5% QoQ
*🌹India Daybook – Stocks in News*
*Oil upstream stocks:* Government cuts windfall tax on fuel exports as oil prices fall (Positive)
*Care Ratings: Board to consider buyback of equity shares today. (Positive)
*HUL:* Revenue at `14272 cr vs `11915 cr, up 19.78%, EBITDA at `3247 cr vs `2847 cr, up 14.05%. (Positive)
*Vedanta:* Board approved dividend of Rs 19.5, yield of 8.2%. (Positive)
*Grasim:* Plans B2B e-commerce platform for trading and marketing of building materials. . (Positive)
*Parag Milk:* Approved Preferential Issue of 1.2cr shares at Rs 93.75/sh upto Rs 112.5cr. (Positive)
*AB Capital:* Co says 'continuously evaluates options for funding, including equity funding by institutional investors, in its businesses (Positive)
*Krsnaa Diagnostics:* Rajasthan Medical Education Society, Government of Rajasthan has awarded tender for Supply, Installation, Operation and Maintenance of CT Scan Center (Positive)
*Rallis:* Rev from ops 863cr vs 740cr yoy, PAT 67cr vs 82cr yoy. (Neutral)
*Ambuja:* Revenue 3993cr vs 3371cr, up 18% YoY, PAT 1048 cr vs 723 cr, up 45% YoY (Neutral)
*L&T FH:* NII 1533cr vs 1499cr, up 2% YoY, PAT 262cr vs 178cr, up 47% YoY (Neutral)
*JSW Energy:* Moody's affirmed JSW Hydro Energy Limited's USD707 mn senior secured notes due 2031 at 'Ba1'; with outlook ‘Stable’ (Neutral)
*KTK Bank:* To consider capital Augmentation plans at AGM (Neutral)
*Vodafone Idea:* Board meeting on July 22 to decide on whether to issue equity shares or warrants to Vodafone Plc for an earlier announced fund raise of Rs 436 cr (Neutral)
*Thermax:* To invest upto Rs 9.99cr in Covacsis Technologies Private Ltd. (Neutral)
*Trident:* Company to temporarily close its major operations in Punjab from intervening night of 20th - 21st July, 2022 due to Union March (Negative)
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