*Business News Headlines*

*Economic Times*
Ø RIL, CP Group, Lightspeed in fray for Metro's India business
Ø L&T Q1 results: Net profit rises 45% to Rs 1,702 crore in April-June
Ø Varun Beverages: Two entities settle insider trading case with Sebi
Ø Ashishkumar Chauhan quits as CEO of BSE
Ø Gujarat Polysol, PKH Ventures get Sebi's nod to launch IPOs
Ø Tech Mahindra's EBIT margin will be over 14% for FY23: CP Gurnani
Ø IMF cuts India’s growth forecast, ups global inflation projection
Ø CCI approves Greenforest New Energies' stake buy in Tata Power Renewable
Ø Indian diamond industry’s revenue set to fall 15-20% this fiscal year, Crisil says
Ø Hatsun Agro breaches Rs 2,000 crore sales mark in April-June quarter
Ø India's steel output grows 6 pc to 10 MT in June:worldsteel
Ø Margins of steelmakers will be under pressure in Q2, strong recovery in H2: TV Narendran

*Business Standard*
Ø India seen overtaking China as biggest importer of seaborne Russian crude
Ø 5G spectrum auction: Bid amount exceeds Rs 1.45 trillion on Day 1
Ø Domestic investors own more equities than FPIs in 75 large cos: Report
Ø Consumption weakness seen in rural India: Unilever CEO Alan Jope
Ø Eutelsat, OneWeb to merge; Bharti to be single largest shareholder
Ø Defence ministry approves arms procurement proposals worth Rs 28,732 cr
Ø CFM ARC sells JBF Industries assets to Reliance Industries entity
Ø Adani Group to invest $70 bn in green energy, infra: Gautam Adani
Ø Asian Paints Q1 net profit up 79% to Rs 1,017 crore; revenue up 55%
Ø We invested, supported our UK biz for a long time: Tata Steel's Narendran

*Financial Express*
Ø Indian pharma firms likely to see muted revenue growth from US generics market in FY23: Icra
Ø Closure of Vedanta’s copper unit results in Rs 14,749 crore loss to economy: Report
Ø Manufacturers of drones and drone components to get Rs 120 cr benefits under PLI scheme
Ø CCI approves Greenforest New Energies’ stake buy in Tata Power Renewable
Ø HDFC Life plans to raise funds by issuing equity, other securities
Ø Reliance Industries sees global recession headwinds
Ø Govt, LIC may offer up to 60% stake in IDBI Bank
Ø Mudra NPAs moderate in FY22, though still above pre-Covid levels
Ø Import reliance for oil jumps 10 percentage pts since 2015
Ø Institutional investors reject 2 resolutions of Orchid Pharma, PVR

• India Gets $18.2B Worth Bids on 1st Day of Phone Airwave Auction
• IMF Cuts World GDP Outlook a Third Time as Inflation, Rates Jump
o IMF World Economic Outlook Update: Projections Summary (Table)
• Larsen & Toubro Misses Profit Estimate on Lofty Input Costs
• India CCI Clears Axis Bank’s Purchase of Citi’s Local Retail Ops
• India Said to Allow Bidders to Buy More Than 40% of IDBI Bank
• India Fuel Duty Cuts to Cost 1 Trillion Rupees, Sitharaman Says
• India Said to Allow Bidders to Buy More Than 40% of IDBI Bank
o Finance ministry expects to close the deal by March 2023
• India Defence Panel Approves INR287.3B Arms Purchase Proposals
• CCI Nod for Blackrock, Mubadala buying Tata Power Renew Stake
• JSW Energy Gets Court Approval to Buy Distressed Power Project
• Credit Suisse Raises India Bond View on Easing Rate-Hike Bets
• India Cumulative Monsoon Rainfall 11% Above Normal as of July 26
• Bajaj Finance to Report Results; Shares Down 10.6% YTD: Preview
• Maruti May See Lower Profit on Costs, Supply Snarls: Preview
• Tata Motors to Report Results; Shares Down 7.8% YTD: Preview
• India Top Oil Explorer Signs Pact for Green Hydrogen
• Global Funds Sell Net INR15.5B of India Stocks on Tuesday: NSE
o Domestic funds buy net 9.99b rupees of stocks
• Foreign Investors Sell Net INR5.75B of Indian Equities on Monday
• Axis Bank (AXSB): India CCI Clears Axis Bank’s Purchase of Citi’s Local Retail Ops
• JSW Energy (JSW): Gets Court Approval to Buy Distressed Power Project
• Larsen & Toubro (LT): 1Q net income +45% Y/y to 17.02b rupees, est. 17.33b, revenue +22% to 358.5b; new orders added 418.05b, order book at 1Q end 3.63t rupees
• Oil & Natural Gas Corp (ONGC): Signs accord with Greenko Zero for green hydrogen operations
• Piramal Enterprises (PIEL): Says gets RBI certificate for NBFC operations
• Sanofi India (SANL): 2Q Net Income 1.2B Rupees Vs. 1.78B Rupees Y/y; to pay INR193/share special dividend
• Shoppers Stop (SHOP): 1Q net income 228.3m rupees vs. loss 1.05b Y/y; Revenue 9.48b vs. 2.05b
• South Indian Bank (SIB): 1Q Net Income 1.15B Rupees vs. 103.1m Y/y, Provisions +79% q/q to 1.39b; Gross NPA 5.87% vs. 5.9% q/q; order book at 1Q end 3.63t rupees
• Tata Power (TPWR): 1Q net income 7.95b rupees vs. 3.91b Y/y, beats est. 4.61b; revenue +43% to 145b
• Wipro (WPRO): Says Nokia extends strategic partnership with Co., in 5-years deal with Nokia for business services, support
• United Spirits (UNSP):1Q Net Income 2.1b rupees vs. 691m Y/y, beats est. 1.86b; revenue +14% to 68.8b
• UTI AMC (UTIAM): 1Q Net Income 944.1M Rupees Vs. 1.55B Rupees Y/y
• Zydus Lifesciences (ZYDUSLIF): Gets final approval for Bisoprolol Fumarate tablets

*🌹India Daybook – Stocks in News*


*PEL:* RBI grants approval to Piramal Ent to commence the business of nonbanking financial institution (Positive)

*Defence Stocks:* Defence panel approves Rs 28,700 cr arms purchase proposals, says Government (Positive)

*Zydus Life:* Receives final approval from the USFDA for Bisoprolol Fumarate Tablets. (Positive)

*Wipro:* Company extends strategic partnership with Nokia (Positive)

*OneWeb:* Company signs MoU with French satellite operator Eutelsat (Positive)

*HDFC Life:* To consider raising funds via preferential issue (Positive)

*ONGC* signs MoU with renewable energy company, Greenko ZeroC, to jointly pursue opportunities in renewables, green hydrogen (Positive)

*Tata Motors/Ashok Ley:* Largest tender for 8,000 electric state buses on cards. (Positive)

*Tata Power* Net profit up at Rs 794.6 cr Vs Rs 391 cr, Revenue up 43.1% at Rs 14,495.5 cr Vs Rs 10,132.4 cr YoY (Positive)

*Relaxo* Net profit up 24.9% at Rs 38.6 cr Vs Rs 30.9 cr, Revenue up 34.2% at Rs 667.2 cr Vs Rs 497.1 cr (Positive)

*KEI Industries:* Revenue stands at Rs 1,565 cr vs Rs 1,017 cr, up 54%. (Positive)

*United Spirits:* Net sales stands at Rs 2,169 cr vs Rs 1,615 cr, up 34% (Positive)

*Ethos:* Net profit up at Rs 12.7 cr Vs Rs 0.83 cr, Revenue up 95.1% at Rs 173.6 cr Vs Rs 88.9 cr (Positive)

*Kabra:* Net profit up 50.9% at Rs 4.1 cr Vs Rs 2.7 cr, Revenue up 89.8% at Rs 105.2 cr Vs Rs 55.4 cr (Positive)

*Shoppers Stop:* Net profit of Rs 22.8 cr Vs loss of Rs 104.8 Cr, Revenue up at Rs 948.4 cr Vs Rs 205.2 cr (Positive)

*PNB Gilts:* Revenue at Rs. 283 cr vs Rs. 215 cr, up 31.6%, Net Profit at Rs. -89 cr vs Rs. 40 cr (Positive)

*JSW Energy:* Resolution Plan submitted by the Company for Ind-Barath Energy (Utkal) has received the approval of NCLT , Hyderabad (Positive)

*Adani Wilmar:* Credit rating Long-Term/Short Term Bank Facilities upgraded to CARE AA-;Stable / CARE A1+ (Positive)

*Bharat Forge:* Company has incorporated a wholly-owned subsidiary in the name of "Electroforge Ltd" (Positive)

*Larsen:* Consolidated order book of the group is at a record Rs 3.63 lk cr as on June 30, 2022 (Positive)

*Larsen:* Net profit at Rs 1,702.07 cr Vs poll of Rs 1,734 cr, Revenues at Rs 35853.0 cr Vs poll of Rs 34589.0 cr (Neutral)

*South Indian Bank:* NII up 11.3% at Rs 603.4 Cr Vs Rs 542 Cr, Profit at Rs 30.6 cr versus Rs 32.3 cr YoY (Neutral)

*Goodluck:* Net profit up 55.8% at Rs 21 cr Vs Rs 13.5 cr, Revenue up 43.8% at Rs 809 cr Vs Rs 562.7 cr (Neutral)

*Astec:* Net profit down 12.2% at Rs 11.4 cr Vs Rs 12.99 cr, Revenue up 43.2% at Rs 184.3 cr Vs Rs 128.7 cr (Neutral)

*Tata Power* Net profit up at Rs 794.6 cr Vs Rs 391 cr, Revenue up 43.1% at Rs 14,495.5 cr Vs Rs 10,132.4 cr YoY (Neutral)

*Indi Grid:* Net profit up 2.6% at Rs 83 cr Vs Rs 80.9 cr, Revenue up 1.2% at Rs 560.8 cr Vs Rs 554.3 cr (Neutral)

*SIS:* Revenue up 12.6% at Rs 2678cr vs Rs 2379cr, EBIDTA flat at Rs 121 cr (Neutral)

*Cipla:* To sell 25.92% stake in Avenue Therapeutics for $3 million (Neutral)

"The past will visit us in the present. If we respond as we did in the past the cycle continues forever." Axiit

*Instl. Investors EQUITY Cash Trades PROV. - 27/07/2022 : Rs. CRS. :*

*FIIS : SELL -437 (4,940-5,377)*

*DIIS : BUY +712 (5,448-4,736)*

Tata Steel has announced to split its stock in the ratio of 1:10 and the EX Date for the corporate action is July 28, 2022. In other words, an investor holding shares today (July 27, 2022) will be eligible for the split and receive 10 shares of the company against 1 share held.

Future: The current lot size is 425; this will change to 4250 shares per lot starting from tomorrow (July 28, 2022).

*🔹INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 27-07-2022 :*

*FIIS F & O : RS. CRS. :*

*TOTAL NET BUY : +5443* 😄😄

*INDEX FUT. : +1642*

*INDEX OPT. : +2118*

*STOCK FUT. : +1129*

*STOCK OPT. : +554*

*🔹SEC. IN F&O BAN FOR, 28 JUL, 2022 :*

*1. IBULHSGFIN*
*2. DELTACORP*

*ADDITION : NIL*
*DELETION : NIL*


*🔹INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 27-JUL-22 : (Rs. CRS )*

*FIIS : SELL -437 (4,940-5,377)* 😔

*DIIS : BUY +712 (5,448-4,736)* 😊

*BSE SENSEX : +548 (55,816)🔼*

*NSE NIFTY : +158 (16,642)🔼*

*BSE MIDCAP. : +210 (23,590)*🔼

*BSE SMLCAP. : +100 (26,518)*🔼

*B. CRUDE : $ 105.69* 🔽 😊

*GOLD: $1715=INR 50,020(10gr)* ↔️ 😳

*SILVER :* *RS. 54,800 (kg) (5pm) ↔️ 😳*

*FOREX : RS. : $ 79.8975* 🔽 😔

*6.54% GOI '32 : 7.3380% (94.6175)* 🔽 😊

*5.74% GOI '26 : 7.0087% (95.35)* 🔽 🙂

*7.54% GOI '36 : 7.5640% (99.78)* 🔽 🙂

A $9.4 trillion results day looms in a test for stock market

https://economictimes.indiatimes.com/markets/stocks/news/a-9-4-trillion-results-day-looms-in-a-test-for-stock-market/articleshow/93166585.cms

Fed raises rates by 75 basis points to double down on inflation

https://economictimes.indiatimes.com/markets/stocks/news/fed-raises-rates-by-75-basis-points-to-double-down-on-inflation/articleshow/93170239.cms

*SGX Nifty +💯 pts (16760) from last trade 16660 ,*


Nikkei -45 pts ,
Hangseng +35 pts ,
Now @ 6.57am .


Dow +436.05 pts ,Nsdq +469.85 pts, S&P
+102.56 pts, Bovespa +1666 pts , Ftse +41 pts , Dax +69 pts , Cac +46 pts , Crude @ $97.75 brl (+0.49), Brent @ $106.96 brl (+0.34) , Gold @ 1736.40 (+17.30), Silver @ $19.10 (+0.50), Euro @ $1.0187, JPY @ $136.33,  INR @ 79.845





*Today's Corporate Action*
*28th July Ex Date*



AKZOINDIA
Final Dividend - Rs. - 35.0000
AMARAJABAT
Final Dividend - Rs. - 0.5000
ASALCBR
Final Dividend - Rs. - 1.0000
AUTOAXLES
Final Dividend - Rs. - 15.0000
BAJAJELEC
Final Dividend - Rs. - 3.0000
BENGALT
Final Dividend - Rs. - 1.0000
DLINKINDIA
Final Dividend - Rs. - 3.0000
EMBASSY
Income Distribution
RITES  EMUDHRA
Final Dividend - Rs. - 1.2500
FCLFinal Dividend - Rs. - 0.4000
ICICIGI
Final Dividend - Rs. - 5.0000
ICRA
Dividend - Rs. - 28.0000
INDPRUD
Dividend - Rs. - 50.0000
KANCOTEA
Dividend - Rs. - 1.0000
KAYCEEI
Final Dividend - Rs. - 50.0000
MUNJALSHOW
Dividend - Rs. - 4.5000
NESCO
Final Dividend - Rs. - 3.0000O
SIAJEE
Interim Dividend 
ROSSELLIND
Dividend - Rs. - 0.3000
SAHYADRI
Final Dividend - Rs. - 3.0000
SAKSOFT
Final Dividend - Rs. - 3.0000
SHILCTECH
Final Dividend - Rs. - 4.0000
SMRUTHIORG
Dividend - Rs. - 3.0000
SRF
Interim Dividend 
SUBROS
Final Dividend - Rs. - 0.7000
TATASTEEL
Stock  Split From Rs.10/- to Rs.1/-TRIL
Final Dividend - Rs. - 0.1500
WIMPLAST
Final Dividend - Rs. - 8.0000
ZYDUSLIFE
Final Dividend - Rs. - 2.5000

"Once we are clear about what we are doing and why, other people's opinions will not matter." Axiit

*Business News Headlines*🇮🇳

*Economic Times*

Ø Sebi clears change in ownership of HDFC Ltd's subsidiary HDFC Property Ventures
Ø Biocon net profit rises 71 pc to Rs 144 crore in June quarter
Ø Varun Beverages: Two entities settle insider trading case with Sebi
Ø Sebi moves SC against stay on order rejecting Brickwork's consent plea
Ø 5G spectrum auction: Bids worth ₹1.45 lakh crore on Day 1
Ø A $9.4 trillion results day looms in a test for stock market
Ø IMF cuts India’s growth forecast, ups global inflation projection
Ø CCI approves Greenforest New Energies' stake buy in Tata Power Renewable
Ø HAL signs USD 100 mn engine contract with Honeywell
Ø Hatsun Agro breaches Rs 2,000 crore sales mark in April-June quarter
Ø Tata Group delivers indigenously developed Quick Reaction Fighting Vehicle to Indian Army
Ø Semiconductor shortage issue is easing: Tata Motors Group CFO

*Business Standard*

Ø Fed raises rates by 75 bps to tame inflation, flags weakening economic data
Ø Q1 results: Private banks' net profit rises 47% on fall in provisions
Ø Mergers & acquisitions on rise as startups diversify into newer spaces
Ø Want to cut govt stake in Union Bank to at least 75%: CEO A Manimekhalai
Ø Eutelsat, OneWeb to merge; Bharti to be single largest shareholder
Ø IDBI Bank sale: Clarity on sale glide path for buyers after EoI stage
Ø CFM ARC sells JBF Industries assets to Reliance Industries entity
Ø IT companies' margins decline to decade-low of 23.2% in June quarter
Ø 2-wheeler makers accelerate global expansion plans as exports gain traction
Ø Cabinet approves BPCL unit's $1.6-bn investment plan in Brazil

*Financial Express*

Ø Sebi again extends deadline for commencing KYC record validation by KRAs
Ø Sebi may expand disclosure requirements for QIP proceeds
Ø Powergrid Infrastructure Q1 net profit grows 84% to Rs 213.9 crore
Ø CCI approves Greenforest New Energies’ stake buy in Tata Power Renewable
Ø HDFC Life plans to raise funds by issuing equity, other securities
Ø Cabinet nod to Rs 1.64 lakh cr BSNL revival package
Ø Govt, LIC may offer up to 60% stake in IDBI Bank
Ø Mudra NPAs moderate in FY22, though still above pre-Covid levels
Ø Import reliance for oil jumps 10 percentage pts since 2015
Ø Tata Steel signs MoU with startup for drone-based mining solutions

India Daybook – Stocks in News


BPCL: Cabinet approves $1.6 bn investment by BPCL’s unit in Brazil (Positive)

Schaeffler: Net Profit up 76.2% at Rs 225.7 cr Vs Rs 128.1 cr, Revenue up 41.9% at Rs 1,748.8 cr Vs Rs 1,232.8 cr YoY (Positive)

Latent View: Net profit up 40.8% at Rs 31.4 cr Vs Rs 22.3 cr, Revenue up 36.6% at Rs 119.9 cr Vs Rs 87.8 cr YoY (Positive)

Bajaj Finance: GNPA and NNPA came at historic lows, will continue to trend downwards for next 2-3 quarters (Positive)

Exide Ind: Company signs a lease agreement with the Karnataka Industrial Areas Development Board for an 80-acre plot in Bengaluru. (Positive)

EIH: Net profit at Rs 2.8 cr Vs loss of Rs 113.2 cr, Revenue at Rs 394.3 cr Vs Rs 95.2 cr YoY (Positive)

Novartis: Net profit at Rs 52.3 cr Vs Rs 6.2 cr, Revenue up 23.2% at Rs 120.9 cr Vs Rs 98.1 cr (Positive)

VIP Ind: Net profit at Rs 69.1 cr vs Rs 2.5 cr, Revenue at Rs 590.6 cr vs Rs 206.2 cr (Positive)

Dixon: Net profit at Rs 45.7 cr Vs Rs 18.1 cr, Revenue up 52.9% at Rs 2,855.1 cr Vs Rs 1,867.3 cr. (Positive)

Hindustan Aeronautics: HAL has signed contract worth over $100 million with Honeywell for HTT-40 Engines (Positive)

Dhampur Sugar: The company on Wednesday reported a 26.2 percent year-on-year increase in net profit at Rs 39.3 crore for the April-June quarter. (Positive)

Blue Dart: 1Q net income 1.17b rupees Vs. 293.7m Y/y; revenue +49% to 12.9b (Positive)

IIFL Finance: 1Q group net profit 3.3b rupees vs 2.66b Y/y; Total income 19.75b vs. 15.3b (Positive)

Poonawalla Fincorp: 1Q net income 1.41b rupee vs. 645.4m Y/y; revenue +14% to 5.45b (Positive)

Shriram City Union: 1Q net income +55% Y/y to 3.23b rupees, beats est. 2.92b (Positive)

Tech Mahindra: Partners Google for launch of Street-level imagery view in India (Positive)

Filatex: Net profit down 16.8% at Rs 43.4 cr Vs Rs 52.1 cr, Revenue up 46.4% at Rs 1,023.3 cr Vs Rs 698.9 cr (Neutral)

Shoppers Stop: To invest INR200m in its unit Global SS (Neutral)

Spice Jet: DGCA orders SpiceJet to operate just 50% of approved flights for 8 weeks following multiple snags

Aarti Drugs: Net profit down 28.7% at Rs 34.8 cr Vs Rs 48.8 cr, Revenue up 7.2% at Rs 622 cr Vs Rs 580 cr (YoY).

JK Lakshmi: Profit down 15.37% at Rs 111.18 cr Vs Rs 131.37 cr. Revenue up 24.8% at Rs 1,654.1 cr Vs Rs 1,325.6 cr

Laxmi Organics: Net profit down 36.6% at Rs 64.8 cr Vs Rs 102.3 cr, Revenue up 2.7% at Rs 756.6 cr Vs Rs 736.3 cr

Welspun India: Net profit down 89.7% at Rs 22.4 cr Vs Rs 217.5 cr; Revenue down 11.6% at Rs 1,957.3 cr Vs Rs 2,214.5 cr

UBL: Net profit at Rs 161.68 cr Vs Poll of Rs 196 cr, Revenues at Rs 2436.0 cr Vs Poll of Rs 2253 cr.

Biocon: Net profit at Rs 144.4 cr Vs poll of Rs 206.9 cr, Revenues at Rs 2139 cr Vs poll of Rs 2280 cr YoY

Tata Motors: Net loss at Rs 5,006.6 cr Vs poll of 1,299 cr loss, Revenues at Rs 71935 cr Vs poll of Rs 71331 cr YoY

NIFTY ON CHARTS

*Instl. Investors EQUITY Cash Trades PROV. - 28/07/2022 : Rs. CRS. :*

*FIIS : BUY +1,638 (7,300-5,662)*

*DIIS : BUY +600 (6,941-6,341)*

For Bajaj Finserv Shareholders

Your 100 shares will be :-

Share Split of 1:5
=100*5
=500

Bonus of 1:1 is on face value of 1 means it will be after share split

=500*2
=1000

If you hold your shares till record date your 100 shares will be 1000 shares.

Telegram.me/AlliesFin

Like Share Retweet

Mkt. Updates :

*SGX Nifty +172 pts (17126) from last trade 16954 ,*

Nikkei +74 pts ,
Hangseng +25 pts ,
Now @ 6.52am .

Dow +332.04 pts ,Nsdq +130.17 pts, S&P
+48.82 pts, Bovespa +1158 pts , Ftse -2 pts , Dax +115 pts , Cac +81 pts , Crude @ $97.46 brl (+1.04), Brent @ $108.00 brl (+0.86) , Gold @ 1753.70 (+17.30), Silver @ $19.98 (+0.11), Euro @ $1.0196, JPY @ $134.51,  INR @ 79.635

US GOVT. 10-YEAR YIELD : 2.69%

Today's Corporate Action
29th July Ex Date

CLEAN
Final Dividend - Rs. - 3.2500
DVL
Final Dividend - Rs. - 4.0000
EMKAY
Final Dividend - Rs. - 1.2500
SAINTGOBAIN
Dividend - Rs. - 1.5000
SAINTGOBAIN
Special Dividend - Rs. - 1.5000
SAYAJIIND
Dividend - Rs. - 1.0000
TCFCFINQ
Dividend - Rs. - 1.2000
VINYLINDIA
Dividend - Rs. - 5.0000
VINYLINDIA
Special Dividend - Rs. - 5.0000


Today's Key Results/Board Meetings, 29-Jul-22 :


HDFC, NTPC, Sun Pharma, Cipla, Indian Oil Corporation, Ashok Leyland, DLF, Emami, Exide Industries, Nazara Technologies, Piramal Enterprises, CARE Ratings, CarTrade Tech, Cholamandalam Investment, CreditAccess Grameen, Deepak Fertilisers, Easy Trip Planners, 3i Infotech, Great Eastern Shipping, GMR Infrastructure, Godrej Agrovet, Heritage Foods, JK Paper, Mahindra Logistics, Metro Brands, Rain Industries, Route Mobile, Strides Pharma Science, Star Health and Allied Insurance Company, Torrent Pharmaceuticals, VST Industries, and Zydus Wellness will be in focus ahead of June quarter earnings on July 29.


SEC.IN F&O BAN FOR , 29-Jul-22 :

*NIL*

Today's Alert :

RBI to Conduct Auction of GOI BONDS for INR 320 Billion

• India Airwave Bids at $18.8B Third Day; Auction to Resume Friday

• India Wants to Open Up For Lithium Mining in Batteries Quest

o Govt is seeking to change current mining laws

• Agarwal’s Vedanta Misses Profit Estimate on Higher Costs

o Total costs during the qtr increased 48% from a yr ago

• Indians’ Desperation for State Jobs Shows Unemployment Crisis

o Data for last eight years show recruitments on a decline

• Indian Firm to Invest Up to $8 Billion in Egypt Hydrogen Project

• India Finds Carriers Improperly Identified Cause of Defects

• Billionaire Adani’s Shadow Bank Plans IPO as Soon as 2024

o Adani Capital aims for a $2 billion valuation in offering

• Resilient Home Demand Helps India Wood Ply Firm Tackle Inflation

• Billionaire CEO Seeks to Reset Fintech Pioneer After IPO Fiasco

• Nomura Favors India NDOIS Steepener Trade on Swap Rally

• SEBI Fines Singh Brothers INR100M Each in Religare Case

• Global Funds Buy Net INR16.4B of India Stocks on Wednesday: NSE

o Domestic funds buy net 6b rupees of stocks

• Foreign Investors Sell Net INR940M of Indian Equities Wednesday

• India has done more than its fair share to fight climate change: Govt: PTI

• Bank credit rises 12.89 pc; deposit 8.35 pc: RBI data: PTI

• Honda to discontinue Jazz, WR-V and 4th generation City in India: PTI

• Ola Electric inks pact with heavy industries ministry for making advanced batter cells: PTI

• RBI sticks to October 1 deadline for card tokenisation: Economic Times

• Tata Neu CTO Sauvik Banerjjee quits four months after launch: Economic Times

• 4:00pm: India Fiscal Deficit in rupees for April-June, prior 129,075 crore

• 5:30pm: June Eight Infrastructure Industries, prior 18.1%

• Aban Offshore (ABAN): Gets rig contract from ONGC for three years

• Ajanta Pharma (AJP): 1Q Net Income +0.6% Y/y to 1.75b rupees, beats est. 1.54b; revenue +27% to 9.51b

• Dr Reddy’s Lab (DRRD): 1Q Net Income 11.9b rupees vs. 5.7b y/y, beats est. 6.99b; revenue +6.1% to 52.2b

• Equitas Small Finance Bank (EQUITASB): 1Q Net Income 970.1m rupees vs. 119.3m Y/y, misses est. 1.31b; Goss NPA 4.1% Vs. 4.14 q/q

• Jubilant Foodworks (JUBI): To buy 40% in Roadcast Tech Solutions for 149.5m rupees

• Mangalore Refinery and Petrochemicals: 1Q Net Income Beats Estimates

• Motilal Oswal Financial (MOFS): 1Q net income 312.6m rupees Vs. 2.21B Y/y; Revenue -16% 7.53b

• Nestle India (NEST): Nestle India 2Q Net Income 5.15B Rupees, Est. 5.74B Rupees

• Nippon Life India AM (NAM): 1Q Net Income -37% Y/y to 1.14b rupees, misses est. 1.71b; revenue +4.6% to 3.16b

• PNB Housing (PNBHOUSI): PNB Housing 1Q Net Income
+1.3% Y/y to 2.38b rupees, beats est. 1.62b; revenue -16% to 14.04b

• Punjab National Bank (PNB): 1Q Net Income 3.1B Rupees Vs. 10.2B Rupees Y/y, provisions -1.3% q/q to 47.9b; Gross NPA 11.3% Vs. 11.8% q/q

• Religare Enterprises (RELG): SEBI Fines Singh Brothers INR100M Each in Religare Case

• SBI Life Insurance (SBILIFE): 1Q Net Income +18% Y/y to 2.63b rupees, misses est. 4.53b; Net premium income +33% to 110.4b

• Shriram Transport Finance (SHTF): 1Q Net Income 9.65b rupees vs. 1.7b Y/y, est. 10.4b; revenue +11% to 51.4b

• TVS Motor (TVSL): TVS Motor 1Q Net Income 3.21b rupees vs. 531.5m Y/y, beats est. 3.03b; revenue +53% to 60.1b

• Vedanta (VEDL): 1Q net income +4.7% Y/y to 44.2b rupees, misses est. 45.73b; revenue +36 to 382.5b

*Startup Updates by VCATs*

*Nykaa Backer Lighthouse In Talks To Raise $400 Mn Fund To Invest In Consumer Brands*
https://inc42.com/buzz/lighthouse-in-talks-to-raise-400-mn-fund-to-invest-in-consumer-space-report/

*Fintech Jai Kisan raises $50 million in Series B*
https://www.livemint.com/companies/start-ups/jai-kisan-snags-50-mn-in-first-close-of-series-b-funding-round/amp-11659099212996.html

*AI-driven nutrition marketplace GetSupp raises Rs 9.5Cr led by General Catalyst, Better Capital*
https://indianstartupnews.com/news/getsupp-raises-9-5-crore-in-funding-from-general-catalyst-better-capital/

*Pepperfry Rejigs Business Structure Ahead Of $300 Mn IPO*
https://inc42.com/buzz/ipo-bound-pepperfry-rejigs-business-structure/

*Around 90 VC, PE and debt funds ready to back Indian startups in 2022*
https://entrackr.com/2022/07/around-90-vc-pe-and-debt-fund-ready-to-back-indian-startups-2022/