• India’s RBI Tightens Rules on Digital Lending After Complaints

o RBI Tightens Norms for Digital Lending, Recovery Agents

• India to Soon Achieve 20% Ethanol Blending in Gasoline: Puri

• Top Coal Miner Sees Profit Soar to Record in Fuel’s Revival

o Windfall earnings likely to be used on expansions

• Billionaire Birla’s Hindalco Posts Record Profit on Novelis

• India Cumulative Monsoon Rainfall 8% Above Normal on Aug. 10

• BRICS 2Q GDP Forecast Steady in Past Week; India Seen at 14.3%

• Global Funds Buy Net 10.6B Rupees of India Stocks Aug. 10: NSE

o Domestic funds sell net 7.68b rupees of stocks

• Foreign Investors Buy Net INR15.7B of Indian Equities on Aug. 8

• Foreigners Sell Net INR4.47B Indian Equity Derivatives Wednesday

• China Says Taiwan Military Drills Over, Plans Regular Patrols

• Aarti Industries (ARTO): Aarti Industries 1Q Net Income Matches Estimates; Net income 1.89 billion rupees, +15% y/y, estimate 1.89 billion rupees

• Abbott India (BOOT):1Q Net Income +5.1% Y/y to 2.06b rupees, est. 2.18b; revenue +7% to 13.04b

• CESC (CESC):1Q net income 1.38B rupees Vs. 1.38B Y/y; revenue +22% to 23.5b

• Coal India (COAL): 1Q net income 88.34b rupees vs. 31.7b Y/y, beats est. 56.03b; revenue +39% to 350.9b

• Eicher Motors (EIM): 1Q net income 6.11b rupees vs. 2.37b y/y, est. 6.03b; revenue +73% to 34b

• HEG (HEG): 1Q net income 1.59B rupees Vs. 567.7M Y/y; revenue +74% to 7.22b

• Glenmark Pharma (GNP): 1Q net income -37% Y/y to 1.93b rupees, beats est. 1.82b; revenue -6.2% to 27.8b

• Indian Railway Catering (IRCTC): 1Q net income 2.46b rupees vs. 825.2m Y/y, beats est. 2.25b; revenue 8.53b vs. 2.43b

• Jammu & Kashmir Bank (JKBK):1Q net income 1.66B rupees Vs. 1.04B Y/y

• Mahindra & Mahindra (MM): LIC stake declines to 6.41% as of Aug. 8

• Metropolis Healthcare (METROHL): 1Q Net Income -55% Y/y to 334m rupees, misses est. 397.3m; revenue -14% to 2.8b

• Oil India (OINL): 1Q net income 15.6b rupees vs. 5.08b y/y, misses est. 20.9b; revenue +98% to 59.7b

• Patanjali Foods (PATANJAL):1Q Net Income 2.41B Rupees vs 1.74 billion rupees y/y

• PB Fintech (POLICYBZ): 1Q net loss 2.04B rupees Vs. loss 2.2B Q/Q; revenue -6.5% to 5.05b

• Steel Authority (SAIL): Steel Authority 1Q Net Income Beats Estimates; Net income 7.76 billion rupees, -80% y/y, estimate 3.14 billion rupees

• Tata Consumer (TATACONS): 1Q Net Income +38% Y/y to 2.55b rupees, misses est. 2.71b; revenue +11% to 33.3b

• Vedanta (VEDL): Commodity Supply to Remain a Challenge in Medium Term, Chairman Anil Agarwal said at AGM

*Mkt. Updates :*

*SGX Nifty +191 pts (17743) from last trade 17552 ,*

Nikkei clsd ,
Hangseng +230 pts ,
Now @6.54am .

Dow +535.10 pts ,Nsdq +360.88 pts, S&P
+87.77 pts, Bovespa +1584 pts , Ftse +18 pts , Dax +165 pts , Cac +33 pts , Crude @ $91.40 brl (-0.53), Brent @ $96.94 brl (-0.42) , Gold @ 1805.90 (-7.90), Silver @ $20.555 (-0.18), Euro @ $1.0294, JPY @ $132.87,  INR @ 79.095


*US GOVT. 10-YEAR YIELD : 2.79%*


*Today's Corporate Action, 11 Aug Ex Date :*

ADVENZYMES
Final Dividend - Rs. - 1.0000
AJMERA
Final Dividend - Rs. - 2.2500
ALKALI
Final Dividend - Rs. - 2.0000
ASTRAMICRO
Final Dividend - Rs. - 1.4000
BALKRISIND
Interim Dividend - Rs. - 4.0000
BIRET 
Income Distribution
RITES  
COALINDIA
Final Dividend - Rs. - 3.0000
DIVISLAB
Dividend - Rs. - 30.0000
DIXON
Final Dividend - Rs. - 2.0000
EMAMIPAP
Dividend - Rs. - 1.6000
ENDURANCE
Final Dividend - Rs. - 6.2500
ERISInterim Dividend 
FINEORG
Final Dividend - Rs. - 9.0000
GODFRYPHLP
Dividend - Rs. - 28.0000
GRASIM
Dividend - Rs. - 5.0000
GRPLTD
Dividend - Rs. - 9.0000
HESTERBIO
Dividend - Rs. - 10.0000
HINDALCO
Dividend - Rs. - 4.0000
IEX
Final Dividend - Rs. - 1.0000
INDUSINDBK
Dividend - Rs. - 8.5000
IOC
Final Dividend - Rs. - 2.4000
IPL
Final Dividend - Rs. - 0.7500
JAMNAAUTO
Final Dividend - Rs. - 1.0000
JTEKTINDIA
Final Dividend - Rs. - 0.4000
JUBLPHARMA
Final Dividend - Rs. - 5.0000
KOTAKBANK
Dividend - Rs. - 1.1000
KPRMILL
Final Dividend - Rs. - 0.1500
MGL
Final Dividend - Rs. - 15.5000
MINDSPACE
Income Distribution
RITES  
NAHARCAP
Final Dividend - Rs. - 1.5000
NAHARPOLY
Final Dividend - Rs. - 2.5000
NAHARSPING
Final Dividend - Rs. - 2.0000
NCC
Dividend - Rs. - 2.0000
PATINTLOG
Final Dividend - Rs. - 0.1000
POBS 
Final Dividend - Rs. - 1.0000
RAIN
Interim Dividend - Rs. - 1.0000
RAJPALAYAM
Dividend - Rs. - 1.0000
REPCOHOME
Final Dividend - Rs. - 2.5000
SHREYANIND
Final Dividend - Rs. - 2.0000
SHRIDINE
Final Dividend - Rs. - 7.5000
SHYAMMETL
Interim Dividend - Rs. - 1.8000
SUNILAGR
Dividend - Rs. - 0.5000
TALBROSENG
Final Dividend - Rs. - 2.0000
TIMKEN
Final Dividend - Rs. - 1.5000
TRITURBINE
Final Dividend - Rs. - 0.8500
TRITURBINE
Special Dividend - Rs. - 0.7000
VARIMAN
Stock  Split From Rs.10/- to Rs.1/-
VBL
Interim Dividend - Rs. - 2.5000
VSTTILLERS
Final Dividend - Rs. - 20.0000


*Today's Key Results/Board Meetings, 11-Aug-22 :*

Apollo Hospitals Enterprise, Aster DM Healthcare, Aurobindo Pharma, Bata India, Bharat Forge, Gujarat Ambuja Exports, Greaves Cotton, Garden Reach Shipbuilders & Engineers, Himadri Speciality Chemical, KNR Constructions, Page Industries, The Phoenix Mills, Puravankara, Quess Corp, Sapphire Foods India, Shilpa Medicare, Spencers Retail, Sunteck Realty, Trent, Vipul Organics, and Wonderla Holidays will be in focus ahead of June quarter earnings on August 11.


*SEC. IN F&O BAN FOR, 11 AUG, 2022 :*

*1. DELTACORP 2. BALRAMCHIN*

*ADDITION : NIL*
*DELETION : ESCORTS*

NaMaste !!

*Very Good Morning!!!*
*US Markets in Detail...*
*Happy Rakshabandhan Day!!!*

*SGX: 17,735: +188: +1.07%*

*Provisional Cash Rs. In Crs. (10th Aug)*
FIIs +1,062 (9,358 – 8,296)
DIIs -768 (5,466 – 6,235)

*Today’s Major Corporate Results:*
APOLLOHOSP, ASTERDM, BATAINDIA, BHARATFORG, GAEL, PAGEIND, SHILPAMED, TNPL, etc

Sensex: 58,817 (-36) (-0.06%)
Nifty: 17,535: +10: +0.06%
BankNifty: 38,288: +50: +0.13%
NiftyIT: 29,701 (-267) (-0.89%)
MIDCAP: 24,524 (-32) (-0.13%)
Dow: 33,310: +535: +1.63%
S&P: 4,210: +88: +2.13%
Nas: 12,855: +361: +2.89%
Brazil: 110,236: +1,585: +1.46%
Ftse: 7,507: +19: +0.25%
Dax: 13,701: +166: +1.23%
Cac: 6,523: +33: +0.52%
MOEX: 2,152: +15: +0.69%
WTI Oil: $91.93: +1.58%
Brnt: $97.11: +0.83%
Gold: $1,814: +1: +0.08%
Silver: $20.74: +1.27%
Copper: $365: +6: +1.8%
Copper (LME): $7,983 (-5) (-0.06%)
Alluminum (LME): $2,491: +45: +1.84%
Zinc (LM): $3,537: +91: +2.64%
Tin (LME): $24,426: +126: +0.52%
Eur-$: 1.0300
GBP-$: 1.2216
Jpy-$: 132.9
Re: 79.5188 (-0.17%)
USD- RUB: 60.7354 (-1.16%)
US10yr: 2.78%
GIND10YR: 7.310 (-0.52%)
$ Index: 105.2320 (-1.07%)
US Vix: 19.74 (-9.32%)
India Vix: 19.5875: +1.48%
BalticDry: 1,564 (-2) (-0.13%)

*ADR/GDR*

Cogni: +1.37%
Infy: +0.99%
Wit: +1.86%
IciciBk: +3.43%
HdfcBk: +3.49%
DrRdy: +1.04%
TataMo: +4.40%
TatSt: +3.37%
Axis: +2.46%
SBI: +1.23%
RIGD: +3.28%
INDA: +1.89% (IShares MSCI INDIA ETF)
INDY: +1.87% (IShares MSCI INDIA 50 ETF)
EPI: +1.80% (Wisdom Tree India Earning)
PIN: +1.66% (Invesco India Etf)

*Dow futures were flat in overnight trading on Wednesday after all the major averages posted sharp gains on the back of a better-than-expected July inflation report.*

*Futures tied to the Dow Jones added 0.02% or 6 points, while S&P 500 futures and Nasdaq 100 futures inched 0.07% and 0.13% lower, respectively.*

Disney added 6.7% in late trading after posting stronger-than-anticipated subscriber numbers and topping earning estimates on the top and bottom lines. Shares of Sonos slumped more than 19% after missing analysts’ expectations.

*Wall Street surged on Wednesday, putting the Nasdaq more than 20% above its June low, after U.S. inflation slowed more than expected in July and raised hopes the Federal Reserve will become less aggressive on interest rates hikes*

However, the Nasdaq Composite advanced 360.88 points, or 2.9%, to 12,854.80, exiting bear-market territory after 107 trading sessions. The Nasdaq Composite is up 20.75% from its 2022 closing low of 10646.10 hit Thursday, June 16, 2022. The Dow also exited correction territory, according to Dow Jones Market Data.

*A sharp drop in the cost of gasoline helped the U.S. Consumer Price Index stay flat last month after advancing 1.3% in June, the Labor Department said. The CPI rose by a less-than-expected 8.5% over the past 12 months after a 9.1% rise in June.*

The rally came in the wake of the first notable sign of relief for Americans who have watched inflation steadily climb. Nasdaq exits bear-market territory, now is up 20.8% since bottoming but still needs to pass its prior peak in November to confirm a new bull market, but analysts say markets overreact to inflation data

*Fed funds futures traders are now pricing in only a 43.5% chance that the U.S. central bank hikes rates by 75 basis points when it meets in September, compared with 68% before the data. A 50 basis point hike is seen as a 56.5% probability*

*Softer-than-expected inflation data fueled bets the Federal Reserve could pivot to a smaller pace of hikes -- a view taken with a grain of salt by market watchers saying officials may still be a long ways from achieving their goal.*

Traders went risk-on Wednesday, with the S&P 500 hitting a three-month high. A rally in tech shares sent the Nasdaq 100 more than 20% above its June bottom, leaving it in a bull market going by a commonly held definition. The gauge still sits 19% below its November record. The Cboe Volatility Index slid to a level last seen in April.

*The dollar sank the most since the onset of the pandemic. Treasury two-year yields were lower by about five basis points in late trading after plummeting nearly 20 basis points immediately after the data. West Texas Intermediate crude topped $91 a barrel.*

*For the market, it's sort of a Goldilocks scenario right now because you have the labor market holding up and inflation potentially starting to come down. That is what a soft landing would look like. But one month of slowing inflation is not enough for the Fed to send an all-clear signal*

*(Inflation at) 8.5% is still very high, but there is optimism that perhaps June was the peak. Producer prices data for July on Thursday along with August inflation and employment data for release next month could alter the course of the Fed again.*

*The Fed has hiked its policy rate by 225 basis points since March despite fears the sharp rise in borrowing costs could tip the U.S. economy into a recession.*

*The slowing of inflation was the first "positive" reading on price pressures since the Fed began tightening policy, Chicago Fed President Charles Evans said, even as he signaled he believes the Fed has plenty more work to do.*

On Tuesday, the Dow Jones Industrial Average fell 0.2% to 32774, the S&P 500 declined 0.4% to 4122 — its fourth-straight losing session — and the Nasdaq Composite dropped 1.2%, to 12493, its third consecutive drop.

*Volume on U.S. exchanges was 11.33 billion shares, compared with the 10.98 billion average for the full session over the past 20 trading days.*

*What’s driving markets*
*The consumer price index was unchanged in July, compared with the 1.3% gain in the prior month, according to the Labor Department. The rate of inflation in the 12 months ended in July slowed to 8.5% from a 41-year high of 9.1% in June.*

*The closely-watched core measure of inflation that omits volatile food and energy prices rose 0.3% in July, a slower pace than a 0.7% gain in the prior month. The 12-month rate remained steady at 5.9%.*

*While much will be made of the indication that headline inflation may be peaking, core inflation remained significantly above target, meaning it is far too early for the Fed to “declare victory” and cease raising interest rates. With the Atlanta Fed’s measure of wage growth now at 6.7%, core inflation is unlikely to return to anywhere near target until wage pressures moderate significantly. With unemployment at the lowest level in over 50 years and workers demanding pay rises to try to keep up with inflation, wage growth is unlikely to moderate sufficiently to return inflation to the Fed’s target, without first seeing a rise in unemployment. So while a peak in inflation is welcome news, it’s probably not enough to allow the Fed to ease off its tightening or to put recession fears to bed.*

*For a market plagued by fears about the Fed’s struggles to tame the inflation beast, the July consumer price index brought a sigh of relief -- with both core and overall measures coming in below forecasts. Swaps are now suggesting a move of 50 basis points as more likely in September than a repeat of the 75-basis-point increases that officials have opted to implement at their past two meetings.*

“This is overall good news for risky assets,” wrote Florian Ielpo, head of macro at Lombard Odier Asset Management, adding that “a lower growth rate of prices does not mean the end of inflation, and naturally the end of hawkish central banking. Inflation remains a situation that requires the Fed’s attention and more importantly the Fed’s measures.”

One danger of the stock-market bullishness right now is it could cause a relaxation of financial conditions that would go against the Fed’s goals. It’s also worth looking back to the early 1980s, when then Fed Chair Paul Volcker eased policy as inflation peaked and the economy tipped into a recession. But the moderation of price pressures proved to be much slower than officials wanted -- and they had to tighten again months later.

In fact, the CPI surprise is just one piece of the intricate puzzle officials are playing with at the moment -- and possibly over the next several months -- with the central bank still miles away from reaching its inflation target. Food prices in the US soared the most since 1979 in July, keeping the cost of living painfully high even as lower gasoline costs offered some relief to consumers.

*Two Fed officials responded to softening inflation data by saying it doesn’t change the US central bank’s path toward even higher rates this year and next.*

*Alluding to market pricing of the policy trajectory, Fed Bank of Minneapolis President Neel Kashkari said it was not realistic to conclude the central bank will start cutting rates in early 2023. His Chicago counterpart Charles Evans said officials will probably continue hiking into next year to bring down “unacceptably high” inflation.*

The easing of financial conditions likely annoys the Fed, and we should not be surprised to see Fed speakers continue to try to talk down the market and risk assets.

*More comments on CPI:*
• “The Fed still has significantly further to tighten and the US economy ultimately cannot avoid its fate. Enjoy today and the next few weeks, it won’t last for too long,” said Seema Shah, chief global strategist at Principal Global Investors.
• “This data point will fuel talk of a policy pivot. But, for me, the issue really does boil down to the labor market. Wage growth is running red hot and absent a turn around in productivity, this will ultimately fuel higher prices,” wrote Neil Dutta, head of economics at Renaissance Macro Research.
• “This is a step in the right direction, but keep in mind we have many miles ahead of us before inflation normalizes. One month’s data point does not make a trend, however, so cautious optimism is likely the name of the game,” said Mike Loewengart, managing director of investment strategy at E*Trade from Morgan Stanley.
• “Wow, finally the anecdotal evidence that inflation was easing has finally showed up in a mainstream inflation report. The Fed is rapidly losing its case for further tightening and this report reinforces for investors that either a new easing cycle has already begun or we are getting very close to one,” said Jim Paulsen, chief investment strategist at the Leuthold Group.

A number of components that people have been flagging as being potentially problematic and keeping inflation persistent at high levels, started to show some easing, said an expert in an interview. He cited a slowdown in the rise of the owners’ equivalent rent index and medical care index in July.

“I really do think that that opens the possibility to the Fed considering 50 basis point hikes instead of 75,” he said.

*The Federal Reserve will consider the data ahead of its September 20-21 policy meeting where it is expected to raise its benchmark interest rate again.*

*However, although the inflation data moderated a bit on the back of falling gasoline prices, some analysts still believe it’s running at a worryingly high rate as both shelter and food costs rose significantly. Shelter costs, which make up about one-third of the CPI weighting, rose 5.7% over the past 12 months.*

“The persistence of still solid inflation data witnessed today, when combined with last week’s strong labor market data, and perhaps especially the still solid wage gains, places Fed policymakers firmly on the path toward continuation of aggressive tightening,” said another expert, in an emailed comment. He believed the FOMC will stick with another 75 basis point hike at the September meeting, the third such substantial hike in a row.

Victoria Fernandez, chief market strategist at Crossmark Global Investments, said the markets overreacted on Wednesday as the inflation readings were not strong enough to make the Fed pivot.

“There’s a lot of data between now and then, but what I don’t think needs to be priced in is a strong fed pivot to completely take their foot off the gas and put the brakes on,” Fernandez told MarketWatch by phone on Wednesday. “I don’t think that’s going to happen, and it almost seems like the kind of what the market was pricing in a little bit today.”

“If this is truly the peak in inflation, this could officially signal an economic tide shift that both consumers and investors can appreciate,” Rusty Vanneman, chief investment strategist at Orion Advisor Solutions wrote in a Wednesday note. “That said, the absolute level of inflation remains painfully high and the risk of being a false peak remains, especially given that two important drivers of inflation are still troublesome: wages and housing.”

In corporate news, *Tesla Inc.* climbed after Elon Musk offloaded $6.9 billion of stock in the electric-vehicle maker to accumulate cash ahead of a trial that could force the billionaire to follow through on an agreement to acquire *Twitter Inc.*

*Wendy’s Co.* became the latest restaurant chain to show signs of strain thanks to rising inflation as sales and restaurant margin fell short of Wall Street projections.

After the close of regular trading, *Walt Disney Co.* said it will raise the price of its flagship Disney+ streaming service by 38%. That’s part of a plan to generate more revenue for its money-losing online businesses and build on third-quarter results that beat estimates for sales, profit and subscriber growth. The shares jumped.

*Companies in focus*
• *Sweetgreen Inc. shares plunged 8%* after the salad restaurant chain’s second-quarter financial results missed Wall Street’s expectations.
• *Meta Platforms Inc jumped 5.8%* after the Facebook parent said on Tuesday it had raised $10 billion in its first-ever bond offering.
• *Coinbase shares gained 7.4%* as bitcoin price advanced Wednesday, despite that the cryptocurrency exchange said volumes and monthly user counts could be lower in the current quarter than what was seen in the last one.
• Shares of *Plug Power Inc. gained 16.7%* Wednesday despite that the hydrogen fuel-cell company fell shy of expectations with its latest revenue and earnings.
• Wendy’s Co. shares lost 1.8%, after the fast-food company posted weaker-than-expected revenue for the second quarter.

Asia markets were softer after data showed China’s inflation at a two-year high. The Shanghai Composite ended 0.5% lower. Hong Kong’s Hang Seng shed 2%, and Japan’s Nikkei 225 fell 0.65%.

European markets staged a rally late Wednesday afternoon after a key U.S. inflation print showed price rises slowing faster than expected.

*On the data front in Europe, German final July consumer price inflation came in at 7.5% year-on-year and 0.9% monthly, official figures revealed Wednesday, roughly in line with expectations.*

*What to watch this week:*
• US PPI, initial jobless claims, Thursday
• San Francisco Fed President Mary Daly is interviewed on Bloomberg Television, Thursday
• Euro-area industrial production, Friday
• US University of Michigan consumer sentiment, Friday

*Currencies*
• The Bloomberg Dollar Spot Index fell 1%
• The euro rose 0.9% to $1.0302
• The British pound rose 1.2% to $1.2220
• The Japanese yen rose 1.6% to 132.93 per dollar

*Bonds*
• The yield on 10-year Treasuries advanced one basis point to 2.79%
• Germany’s 10-year yield declined three basis points to 0.89%
• Britain’s 10-year yield declined two basis points to 1.95%

*Commodities*
• West Texas Intermediate crude rose 1.1% to $91.49 a barrel
• Gold futures fell 0.4% to $1,805.90 an ounce

Mkt. Updates :

SGX Nifty -12 pts (17664) from last trade 17676 ,

Nikkei +603 pts ,
Hangseng +76 pts ,
Now @6.55am .

Dow +27.16 pts ,Nsdq -74.89 pts, S&P
-2.97 pts, Bovespa -517 pts , Ftse -41 pts , Dax -6 pts , Cac +21pts , Crude @ $93.96 brl (-0.38), Brent @ $99.27 brl (-0.42) , Gold @ 1803.50 (-3.50), Silver @ $20.21 (-0.13), Euro @ $1.0313, JPY @ $133.22,  INR @ 79.605


US GOVT. 10-YEAR YIELD : 2.88%


Today's Corporate Action, 12 Aug Ex Date :

AVTNPL
Final Dividend - Rs. - 0.6000
BDH
Final Dividend - Rs. - 3.6000
BRIGHTBR
Final Dividend - Rs. - 5.0000
CAMS
Interim Dividend 
COMPUSOFT
Dividend - Rs. - 0.4000
DYNAMIC
Final Dividend - Rs. - 0.5000
EICHERMOT
Final Dividend - Rs. - 21.0000
FIEMIND
Final Dividend - Rs. - 20.0000
IRB
Interim Dividend 
ISGEC
Final Dividend - Rs. - 2.0000
JBCHEPHARM
Final Dividend - Rs. - 8.0000
KPITTECH
Dividend - Rs. - 1.8500
MAANALU
Interim Dividend 
MASFIN
Final Dividend - Rs. - 1.7500
RAMAPHO
Final Dividend - Rs. - 0.8000
SHRGLTR
Final Dividend - Rs. - 0.2000
SKIPPER
Dividend - Rs. - 0.1000
TRIVENI
Final Dividend - Rs. - 2.0000
WPIL
Dividend - Rs. - 10.0000


*SEC. IN F&O BAN FOR, 12 AUG, 2022 :*

*1. DELTACORP 2. BALRAMCHIN*

*ADDITION : NIL*
*DELETION : ESCORTS*


*Today's Alert :*

*RBI to Conduct Auction of GOI BONDS for INR 320 Billion*

• Agency Says Ending Brazil Cold-Rolled Steel Duties Won’t Hurt US

• India Needs to Move Cautiously on Crypto Assets, Official Says

• Paytm CEO Sharma Must Be Replaced With a Professional, IiAS Says

• India Crackdown Puts $4.4 Billion Debt at Risk of Downgrade

• RBI Modified Bilateral Meeting of Qualified Financial Contracts

• India Cumulative Monsoon Rainfall 8% Above Normal as of Aug. 11

• Emerging Economies 2Q GDP Forecast Steady; India Seen at 14.3%

• Global Funds Buy Net INR23B of India Stocks on Thursday: NSE

o Domestic funds sell net 7.3b rupees of stocks

• Foreign Investors Buy Net INR24.55B of India Equities Wednesday

• Foreigners Buy Net INR28.5B of India Equity Derivatives Thursday

• China blocks US-India bid at UN to blacklist JeM dy chief Abdul Rauf Azhar: PTI

• India-UK trade set to double by 2030: Report: PTI

• 5:30pm: India July Consumer Price Inflation y/y; est. 6.76%, prior 7.01%

• 5:30pm: India June Industrial Production y/y; est. 10.3%, prior 19.6%

• 08/12-08/15: India July Trade Balance, est. - $31.0b, prior -$26.18b

o India July Exports Y/y; prior 23.5%

o India July Imports Y/y; prior 57.6%

• Apollo Hospitals (APHS): 1Q net income -35% Y/y to 3.17b rupees, beats est. 1.96b; revenue +1.1% to 38b

• Aurobindo Pharma (ARBP): 1Q Net Income -32% Y/y to 5.2b rupees, misses est. 6.2b; revenue +9.5% to 62.4b

• Bata India (BATA): 1Q net income 1.19B rupees Vs. loss 694.8M Y/y; revenue 9.43b vs. 2.67b

• Life Insurance Corp (LICI): Raises Voltas (VOLT) holding to 6.861% from 4.833% via market purchase

• Page Industries (PAG): 1Q Net Income 2.07b rupees vs. 109.5m Y/y, Beats est. 1.89; revenue 13.4b vs. 5.02b

• Phoenix Mills (PHNX): 1Q net income 7.19b rupees vs. loss 262m Y/y, beats est. 1.22b; 1Q had exceptional gain of 5.57B

*Business News Headlines*

*Economic Times*
Ø Infosys is watchful but confident enough to raise growth guidance: Salil Parekh
Ø Go Fashion pushing ahead with expansion; plans to open 120-130 stores every year
Ø Patanjali Foods will take price cuts as commodity prices decline: Sanjeev Kumar Asthana
Ø Syrma SGS offers exposure to India’s fast-growing electronics manufacturing
Ø OPEC, in contrast to IEA, sees lower 2022 oil demand growth
Ø HDFC executes a rare trade to hedge rate risk
Ø Lower bad loans push PSU banks' profitability in June quarter
Ø LIC consolidates its leadership position with 68.57% market share
Ø Fairfax Financial to double investment in India over 4-5 years
Ø Eicher Motors net more than doubles in Q1FY23
Ø Union Bank expects to recover Rs 15,000 crore from bad loans this fiscal
Ø Greenko to develop up to 400 MW green capacity for Hindalco's aluminium smelter in Odisha

*Business Standard*
Ø RBI guidelines may lead to high compliance cost for digital lending apps
Ø BofA Sec sees more mkt corrections, revises 2022-end Nifty target to 15,600
Ø Centre garners Rs 3,000 crore from windfall tax on oil and gas firms
Ø Govt to remove domestic fare caps imposed on airlines Aug 31 onwards
Ø Dhanlaxmi Bank's Rs 127-cr rights issue hits fresh roadblock at boardroom
Ø Adani group to invest Rs 57,575 cr to set up alumina mill in Odisha
Ø Tyre maker Balkrishna Industries FY23 volume, margin seen under pressure
Ø IT companies' margins decline to decade-low of 23.2% in June quarter
Ø Interim wage hike likely to hit margins of West Bengal tea estates: Icra
Ø LIC ropes in Milliman Advisors to derive September embedded value

*Financial Express*
Ø Tata Sons FY22 net rises 164% to Rs 17,171 crore
Ø Oil ministry to divert gas from industries after CNG, piped gas prices jump 70 pc in a year
Ø Institutional investments in real estate dip 28% to 2.3 bn in H1: Report
Ø Balaji Telefilms posts consolidated revenue of Rs 119 crore in Q1, FY23
Ø Tax hike on petroleum: Crude oil production tax raised; diesel, jet fuel export tax cut by this much per litre
Ø Price freeze on petrol, diesel, LPG to hit profitability of IOC, BPCL, HPCL: Fitch
Ø Airtel Africa signs up for USD 125 million credit pact with Citi
Ø Mudra NPAs moderate in FY22, though still above pre-Covid levels
Ø Import reliance for oil jumps 10 percentage pts since 2015
Ø Jio, Adani Data, Airtel and Vodafone Idea get one more day as DoT extends spectrum payment due date

Consumer prices in the country grew 6.71 per cent in July, compared to the year ago period. Although retail inflation remained higher than the upper tolerance limit of RBI's target range of 2-6 per cent for a seventh straight month, it has dipped lower than 7 per cent for the first time in four months. Inflation has been receding for the last four months, it had touched a high of 7.79 per cent in April.
RBI, in its latest monetary policy committee meeting had raised the rates by 50 bps to 5.4 per cent--higher than the pre-pandemic level. Rates have increased 140 bps since June.
The food inflation did not decline as fast and came in at 6.75 per cent.
The industrial production in June increased to 12.3 per cent, supported by a low base.
The data, released by the National Statistical Office on Friday, showed that the Consumer Price Index (CPI)-based inflation eased only marginally to 6.71 per cent in July from 7.01 per cent in the previous month, while the Index of Industrial Production (IIP) grew 12.3 per cent in June compared to 19.6 per cent in May.

Om Shanti #rakeshjhunjunwala #alliesfin

Happy Independence Day 🇮🇳

Trader aise Bano ki Exchange aapko yaad kare,
Investor aise Bano ki Company aapko yaad kare...

Rakesh Jhunjhunwala...

What an Inspiration !!

Take a look at 10 golden quotes by Rakesh Jhunjhunwala,

1) "Respect the market. Have an open mind. Know what to stake. Know when to take a loss. Be responsible."

2) "Hastily taken decisions always result in heavy losses. Take your own time before putting money in any stock."

3) "Anticipate trend and benefit from it. Traders should go against human nature."

4) “Never invest at unreasonable valuations. Never run for companies which are in limelight."

5) “Trading always keeps you on your feet, it keeps you alert. That's one of the reasons why I like to trade."

6) “Emotional investment is a sure way to make loss in stock markets."

7) "You cannot make profits in the stock market unless you have the ability to bear losses."

8) "Buy when others sell and sell when others buy – the stock market mantra."

9) “Invest in companies which have strong management and competitive management."

10) “When opportunities come, they can come through technology, marketing, brands, value protections, capital, etc. You need to be able to spot those."

*SGX Nifty +117 pts (17834) from Friday's last trade 17717 ,*


Nikkei -72 pts ,
Hangseng +66 pts ,
Now @6.53am .


Dow +151.39 pts ,Nsdq +80.87 pts, S&P
+16.99 pts, Bovespa +267 pts , Ftse +8 pts , Dax +20 pts , Cac +16 pts , Crude @ $88.16 brl (-1.25), Brent @ $95.10 brl (-0.00) , Gold @ 1794.80 (-3.30), Silver @ $20.18 (-0.09), Euro @ $1.016, JPY @ $133.07,  INR @ 79.545





*Today's Corporate Action*
*16th Aug Ex Date*


None




*Today's Key Results/Board Meetings*
*16-Aug-22*



Apar Industries, Neogen Chemicals: Officials of the companies will attend NBIE - Investor Conference - August 2022 hosted by Nirmal Bang Institutional Equities.

Rainbow Children's Medicare: Officials of the company will attend Investor Roadshow host by Kotak Securities.

Metro Brands: Officials of the company will meet Nirmal Bang, and JP Morgan Asset Management.

Ramco Cements: Officials of the company will attend investors' meets at Singapore, organised by B & K Securities.

Aegis Logistics: The company will hold Q1FY23 earnings conference call to discuss operational & financial performance.

Tata Chemicals: Officials of the company will meet Ruane Cunniff Goldfarb.

UPL: Officials of the company will meet several fund houses, analysts, institutional investors in a virtual conference organised by Kotak Securities.

Hindware Home Innovation: Officials of the company will meet analysts and investors to discuss financial results for the first quarter ended June 2022.

Fiem Industries: Officials of the company will meet analysts and investors to discuss financial results for the first quarter ended June 2022.

NaMaste !!

*Good Morning*
• Mahindra Unveils Five Electric SUVs to Fast Track EV Shift
• Ola Founder Plans Locally Produced Electric Car by 2024 (1)
• Modi Vows to Fight Dynastic Power in Independence Day Speech
• Beijing Asks New Delhi to Reiterate ‘One China’ Principle
• India Says US Raised Concern Over Processed Russian Oil Shipment
• Coal Giants Are Making Mega Profits as Climate Crisis Grips the World
• Gold Drops With China’s Slowdown and Fed Rate Path in Focus
• Russia to Complete S_400 Shipment to India by End-2023: IFX
• Top India Oil Producer’s Profit Soars as Energy Prices Jump (1)
• India Rice Crop Suffers Setback as Patchy Rains Reduce Plantings
• China Tripled Lithium Carbonate Imports in June: BNEF Chart
• India July Inflation Cools, Easing Pressure for Steep Hikes (1)
o July Consumer Prices Rise 6.71% Y/y, Est. +6.75%
• India June Industrial Production Rises 12.3% Y/y, Est. +10.3%
• India Cumulative Monsoon Rainfall 8% Above Normal as of Aug. 14
• Indian Billionaire- Investor Rakesh Jhunjhunwala Dies at 62 (2)
o Veteran equity market investor was a self-made trader
• Anshu Jain, Deutsche Bank Chief in a Pivotal Era, Dies at 59 (2)
o Executive joined Cantor Fitzgerald as president in 2017
• India CCI Approves Adani’s Acquisition of Ambuja Cements, ACC
o CCI clear IIFL stake acquisition indirectly by ADIA
• HDFC Bank-HDFC Planned Merger Wins India Antitrust Approval
• India’s FX Reserves Fall $897m to $573.0b in Week to Aug. 5
• India ED Freezes $46.5M of Crypto, Bank Balances at Flipvolt
• Torrent Power and Sembcorp in Race to Buy Vector Green Energy
• India’s Sensex Posts Longest Run of Weekly Gains Since January
• Europe in Prelim. Talks With SpaceX on Use of Launchers: Reuters
• Russia Is Using CNY, INR, RUB in Arms Payments: Interfax
• RBI shut Tuesday for local bank holiday
• ACC (ACC): India CCI Approves Adani’s Acquisition of Ambuja Cements, ACC
• Apollo Tyres (APTY): 1Q Net Income +49% Y/y to 1.91b rupees, beats est. 1.31b; revenue +30% to 59.4b
• Astral (ASTRA): 1Q Net Income +20% Y/y to 889m rupees, misses est. 969.9m; revenue +73% to 12.1b
• Dilip Buildcon (DBL): 1Q Net Income 198M Rupees Vs. 270.2M Rupees Y/y
• HDFC Bank (HDFCB): HDFC Bank-HDFC Planned Merger Wins India Antitrust Approval
• Hero MotoCorp (HMCL): 1Q net income +70 % Y/y to 6.2b rupees, misses est. 7.66b; revenue +53% to 83.9b
• Honeywell Automation (HWA): 1Q net income 1.02b rupees, revenue 7.86b
• Indiabulls Real Estate (IBREL):1Q net loss 519.6M rupees vs. profit 47.6m Y/y; revenue -71% to 1.52b
• Jindal Steel (JSP): Jindal Steel Says Jha Replaces Sharma Who Completes His Term
• JK Cement (JKCE): 1Q net income 1.81b rupees, est. 1.65b; revenue 21.7b vs 16.3b
• Muthoot Finance (MUTH): 1Q net income 8.02b rupees, misses est. 9.87b; revenue -8% to 25b
• Piramal Enterprises (PIEL): NCLT approves company’s pharma operations demerger
• Restaurant Brands Asia (RBA): 1Q net loss -49% Y/y to 227.4m rupees; revenue 3.37b vs. 1.5b
• State Bank of India (SBIN): To Raise MCLR Lending Rates 20 Bps Across Tenors Aug. 15
• Sun TV (SUNTV): 1Q net Income +26% Y/y to 4.92b rupees, beats est. 4.59b; revenue +47% to 11.9b
• Tata Motors (TTMT): Jaguar Land Rover Canada, Siriusxm Extend Services Pact to 2027
• Thermax (TMX) Says incorporated new unit Thermax Bioenergy Solutions Pvt
• Zee Entertainment (Z): 1Q net income -50% Y/y to 1.07b rupees, misses est. 2.13b