This jobs report is consistent with an inflationary boom. The Fed has a lot more work to do and in an odd way, that the Fed needs to get more aggressive in pushing up rates, makes the hard-landing scenario more likely.
*Fed-funds futures traders priced in a 66.5% chance of a 75 basis point rate hike in September, up from 34% on Thursday. Traders see a 33.5% probability of a 50 basis point move when the Fed next meets on September 20-21.*
“The economy is clearly firing on all cylinders as this morning’s job report showed growth across all sectors. The release should quiet the bears in the room who have been crying recession in recent days.
Strong jobs growth and moderating price inflation should help extend the current relief rally through the end of the year.
*The monthly employment report, however, is a lagging indicator. And investors and policy makers still have lots of data to sift through between now and the Fed’s September policy meeting. The next reading of the U.S. consumer-price index will be released next week.*
Friday’s extremely strong jobs data suggests that many businesses are not allowing recession fears to stand in the way of hiring. The jury is out on whether this robust pace of hiring can continue as many large and small companies have recently taken steps to slow hiring or even layoff existing employees.
*We believe next Wednesday’s Consumer Price Index data will weigh more heavily on Federal Reserve policy than Friday’s jobs report, as fighting inflation is the Fed’s top focus. U.S. annual consumer prices expected to jump by 8.7% in July after a 9.1% rise in June.*
*Here’s what else Wall Street is saying about the jobs surprise:*
Win Thin, global head of currency strategy at Brown Brothers Harriman & Co:
“Odds of a 75 basis point move next month have shot up, as they should. We still get one more jobs report before the September FOMC but barring a disaster, I think 75 bp then is a done deal.”
Eric Theoret, global macro strategist at Manulife Investment Management:
“For the Fed, this report confirms the need to continue tightening and also endorses much of this week’s Fedspeak that sought to jawbone rate expectations. For markets, the report may pose a challenge for rate-sensitive equities like tech which had recently been leading in terms of sector performance.”
Seema Shah, chief strategist at Principal Global Investors:
“All the jobs lost during the pandemic have now been regained. But while that is positive news, markets will take today’s number as a timely reminder that there is significantly more Fed hiking still to come. Rates are going above 4% -- today’s number should put to bed any doubters.”
Peter Boockvar, chief investment officer at Bleakley Financial Group:
“This was a great number with the obvious big upside in hirings but when this is happening at the same time GDP is declining, it means productivity is plunging. Also, as the pace of firing is at the highest level in nine months, this pace of hiring is just not sustainable.”
Keith Lerner, co-chief investment officer at Truist Advisory Services:
“Some of the conviction levels around recession are somewhat less. And I think that’s offsetting the other side of the equation which is, OK, that means the Fed will have to be more aggressive. So that’s why you’re netting this out to be a flat day because it really comes down to people questioning their confidence that we were in a recession, which was the primary reason why we were down.”
Despite being the focus of the day for traders, the jobs report supposedly has little value for those trying to predict a recession because it’s backward-looking.
Corporate earnings, combined with thin liquidity that’s common in the summer, took the stock market on a ride this week. Many firms beat expectations and proved they could handle high inflation and a gloomy economic outlook. But investors have resumed shunning global stocks in favor of bonds, according to Bank of America Corp. strategists, who say it’s time to step back from US equities after July
*Fed-funds futures traders priced in a 66.5% chance of a 75 basis point rate hike in September, up from 34% on Thursday. Traders see a 33.5% probability of a 50 basis point move when the Fed next meets on September 20-21.*
“The economy is clearly firing on all cylinders as this morning’s job report showed growth across all sectors. The release should quiet the bears in the room who have been crying recession in recent days.
Strong jobs growth and moderating price inflation should help extend the current relief rally through the end of the year.
*The monthly employment report, however, is a lagging indicator. And investors and policy makers still have lots of data to sift through between now and the Fed’s September policy meeting. The next reading of the U.S. consumer-price index will be released next week.*
Friday’s extremely strong jobs data suggests that many businesses are not allowing recession fears to stand in the way of hiring. The jury is out on whether this robust pace of hiring can continue as many large and small companies have recently taken steps to slow hiring or even layoff existing employees.
*We believe next Wednesday’s Consumer Price Index data will weigh more heavily on Federal Reserve policy than Friday’s jobs report, as fighting inflation is the Fed’s top focus. U.S. annual consumer prices expected to jump by 8.7% in July after a 9.1% rise in June.*
*Here’s what else Wall Street is saying about the jobs surprise:*
Win Thin, global head of currency strategy at Brown Brothers Harriman & Co:
“Odds of a 75 basis point move next month have shot up, as they should. We still get one more jobs report before the September FOMC but barring a disaster, I think 75 bp then is a done deal.”
Eric Theoret, global macro strategist at Manulife Investment Management:
“For the Fed, this report confirms the need to continue tightening and also endorses much of this week’s Fedspeak that sought to jawbone rate expectations. For markets, the report may pose a challenge for rate-sensitive equities like tech which had recently been leading in terms of sector performance.”
Seema Shah, chief strategist at Principal Global Investors:
“All the jobs lost during the pandemic have now been regained. But while that is positive news, markets will take today’s number as a timely reminder that there is significantly more Fed hiking still to come. Rates are going above 4% -- today’s number should put to bed any doubters.”
Peter Boockvar, chief investment officer at Bleakley Financial Group:
“This was a great number with the obvious big upside in hirings but when this is happening at the same time GDP is declining, it means productivity is plunging. Also, as the pace of firing is at the highest level in nine months, this pace of hiring is just not sustainable.”
Keith Lerner, co-chief investment officer at Truist Advisory Services:
“Some of the conviction levels around recession are somewhat less. And I think that’s offsetting the other side of the equation which is, OK, that means the Fed will have to be more aggressive. So that’s why you’re netting this out to be a flat day because it really comes down to people questioning their confidence that we were in a recession, which was the primary reason why we were down.”
Despite being the focus of the day for traders, the jobs report supposedly has little value for those trying to predict a recession because it’s backward-looking.
Corporate earnings, combined with thin liquidity that’s common in the summer, took the stock market on a ride this week. Many firms beat expectations and proved they could handle high inflation and a gloomy economic outlook. But investors have resumed shunning global stocks in favor of bonds, according to Bank of America Corp. strategists, who say it’s time to step back from US equities after July
US-China tension also remains among the uncertainties clouding the outlook. China announced it would halt cooperation with the US in a number of areas -- including working-level talks on climate change and defense -- after US House Speaker Nancy Pelosi’s trip to Taiwan this week. China also sent warships across the Taiwan Strait’s median line in the first such incursion in years, a day after likely firing missiles over the island.
West Texas Intermediate rose to near $90 a barrel, but remains on track for its biggest weekly decline since April. Gold fell and Bitcoin gained.
*Something interesting to read*
*Danger ahead: The U.S. economy has yet to face its biggest recession challenge*
https://www.cnbc.com/2022/08/05/danger-ahead-the-us-economy-has-yet-to-face-its-biggest-recession-challenge.html
*Which companies were in focus?*
• *Tesla Inc.* shareholders on Thursday approved a proposal expected to lead to a 3-for-1 stock split and sided with the company on most of the proposals up for a vote. Shares dropped 6.6%.
• Meme-stock favorite *AMC Entertainment Holdings Inc.* late Thursday announced a special dividend in the form of “Ape” preferred shares. AMC shares jumped 18.9%.
• Shares of *Twilio Inc. plunged 13.5%* after the software company’s outlook came in below Wall Street expectations following a reported beat in the previous quarter.
• *DoorDash Inc. shares fell 1.3%* after the company late Thursday reported continued growth in the second quarter, saying that its food-delivery business remains healthy despite economic uncertainty, though its loss was worse than what Wall Street expected.
• Shares of *Cloudfare Inc. soared 27.1%* after the cybersecurity company reported results late Thursday that topped Wall Street expectations and hiked its revenue outlook for the year.
• *Beyond Meat Inc. shares surged 21.9%* after UBS raised its price target. Shares had tumbled in early trade after the maker of plant-based meat substitutes posted on Thursday afternoon a larger-than-expected net loss and smaller-than-expected revenues, while announcing layoffs.
• *Block Inc. shares edged down 2.2%* after the payment-technology company late Thursday swung to a loss and projected that July volume growth for the Square seller business would be lower than what was expected in the second quarter when looking on a year-over-year basis.
• *Carvana Co. shares skyrocketed 40.1%* even as the used-car retailer missed expectations with its second-quarter revenue and logged a larger loss than analysts were anticipating. The company reported second-quarter sales volume of 117,564, up from 105,185 the previous quarter and 107,815 a year earlier. Shares are down almost 80% this year.
*The yield on the 10-year Treasury note jumped 16.4 basis points to 2.838%. Yields and debt prices move opposite each other.*
The Shanghai Composite ended with a gain of 1.2% Friday, but remained down 0.8% for the week. The Hang Seng Index in Hong Kong rose 0.1% Friday, bringing its weekly rise to 0.2%. Japan’s Nikkei 225 gained 0.9% Friday and climbed 1.3% for the week.
European markets closed lower on Friday afternoon after a key U.S. jobs report showed unexpected strength in the labor market.
*On the data front, French industrial output unexpectedly rose in June, posting a strong 1.4% monthly increase despite forecasts for a 0.2% contraction amid persistent supply chain problems and the energy crisis.*
*Currencies*
# The Bloomberg Dollar Spot Index rose 0.7%
# The euro fell 0.7% to $1.0178
# The British pound fell 0.8% to $1.2066
# The Japanese yen fell 1.7% to 135.10 per dollar
*Bonds*
# The yield on 10-year Treasuries advanced 15 basis points to 2.84%
# Germany’s 10-year yield advanced 15 basis points to 0.96%
# Britain’s 10-year yield advanced 16 basis points to 2.05%
*Commodities*
# West Texas Intermediate crude rose 0.4% to $88.91 a barrel
# Gold futures fell 0.9% to $1,790.50 an ounce
West Texas Intermediate rose to near $90 a barrel, but remains on track for its biggest weekly decline since April. Gold fell and Bitcoin gained.
*Something interesting to read*
*Danger ahead: The U.S. economy has yet to face its biggest recession challenge*
https://www.cnbc.com/2022/08/05/danger-ahead-the-us-economy-has-yet-to-face-its-biggest-recession-challenge.html
*Which companies were in focus?*
• *Tesla Inc.* shareholders on Thursday approved a proposal expected to lead to a 3-for-1 stock split and sided with the company on most of the proposals up for a vote. Shares dropped 6.6%.
• Meme-stock favorite *AMC Entertainment Holdings Inc.* late Thursday announced a special dividend in the form of “Ape” preferred shares. AMC shares jumped 18.9%.
• Shares of *Twilio Inc. plunged 13.5%* after the software company’s outlook came in below Wall Street expectations following a reported beat in the previous quarter.
• *DoorDash Inc. shares fell 1.3%* after the company late Thursday reported continued growth in the second quarter, saying that its food-delivery business remains healthy despite economic uncertainty, though its loss was worse than what Wall Street expected.
• Shares of *Cloudfare Inc. soared 27.1%* after the cybersecurity company reported results late Thursday that topped Wall Street expectations and hiked its revenue outlook for the year.
• *Beyond Meat Inc. shares surged 21.9%* after UBS raised its price target. Shares had tumbled in early trade after the maker of plant-based meat substitutes posted on Thursday afternoon a larger-than-expected net loss and smaller-than-expected revenues, while announcing layoffs.
• *Block Inc. shares edged down 2.2%* after the payment-technology company late Thursday swung to a loss and projected that July volume growth for the Square seller business would be lower than what was expected in the second quarter when looking on a year-over-year basis.
• *Carvana Co. shares skyrocketed 40.1%* even as the used-car retailer missed expectations with its second-quarter revenue and logged a larger loss than analysts were anticipating. The company reported second-quarter sales volume of 117,564, up from 105,185 the previous quarter and 107,815 a year earlier. Shares are down almost 80% this year.
*The yield on the 10-year Treasury note jumped 16.4 basis points to 2.838%. Yields and debt prices move opposite each other.*
The Shanghai Composite ended with a gain of 1.2% Friday, but remained down 0.8% for the week. The Hang Seng Index in Hong Kong rose 0.1% Friday, bringing its weekly rise to 0.2%. Japan’s Nikkei 225 gained 0.9% Friday and climbed 1.3% for the week.
European markets closed lower on Friday afternoon after a key U.S. jobs report showed unexpected strength in the labor market.
*On the data front, French industrial output unexpectedly rose in June, posting a strong 1.4% monthly increase despite forecasts for a 0.2% contraction amid persistent supply chain problems and the energy crisis.*
*Currencies*
# The Bloomberg Dollar Spot Index rose 0.7%
# The euro fell 0.7% to $1.0178
# The British pound fell 0.8% to $1.2066
# The Japanese yen fell 1.7% to 135.10 per dollar
*Bonds*
# The yield on 10-year Treasuries advanced 15 basis points to 2.84%
# Germany’s 10-year yield advanced 15 basis points to 0.96%
# Britain’s 10-year yield advanced 16 basis points to 2.05%
*Commodities*
# West Texas Intermediate crude rose 0.4% to $88.91 a barrel
# Gold futures fell 0.9% to $1,790.50 an ounce
đź‘Ť1
*SGX Nifty -55 pts (17360) from last trade 17415 ,*
Nikkei -44 pts ,
Hangseng -137 pts ,
Now @6.52am .
Dow +76.65 pts ,Nsdq -63.03 pts, S&P
-6.75 pts, Bovespa +579 pts , Ftse -8 pts , Dax -88 pts , Cac -41 pts , Crude @ $88.36 brl (-0.65), Brent @ $94.20 brl (-0.72) , Gold @ 1790.20 (-1.00), Silver @ $19.775 (-0.06), Euro @ $1.0165, JPY @ $135.21, INR @ 79.365
*Today's Corporate Action*
*6th Aug Ex Date*
ALKEM
Final Dividend - Rs. - 4.0000
BEL
Final Dividend - Rs. - 1.5000
CASTROLIND
Interim Dividend - Rs. - 3.0000
CHENNPETRO
Final Dividend - Rs. - 2.0000
CIPLA
Dividend - Rs. - 5.0000
DBCORP
Interim Dividend - Rs. - 3.0000
GGENG
Right Issue of Equity Shares
HIGHENE
Stock Split From Rs.10/- to Rs.2/-
HONAUT
Dividend - Rs. - 90.0000
ICICIBANK
Final Dividend - Rs. - 5.0000
KRITIIND
Final Dividend - Rs. - 0.2000
KRITINUT
Final Dividend - Rs. - 0.1800
RJSHAH
Dividend - Rs. - 2.5000
RUPA
Dividend - Rs. - 3.0000
WSTCSTPAPR
Final Dividend - Rs. - 6.0000
Nikkei -44 pts ,
Hangseng -137 pts ,
Now @6.52am .
Dow +76.65 pts ,Nsdq -63.03 pts, S&P
-6.75 pts, Bovespa +579 pts , Ftse -8 pts , Dax -88 pts , Cac -41 pts , Crude @ $88.36 brl (-0.65), Brent @ $94.20 brl (-0.72) , Gold @ 1790.20 (-1.00), Silver @ $19.775 (-0.06), Euro @ $1.0165, JPY @ $135.21, INR @ 79.365
*Today's Corporate Action*
*6th Aug Ex Date*
ALKEM
Final Dividend - Rs. - 4.0000
BEL
Final Dividend - Rs. - 1.5000
CASTROLIND
Interim Dividend - Rs. - 3.0000
CHENNPETRO
Final Dividend - Rs. - 2.0000
CIPLA
Dividend - Rs. - 5.0000
DBCORP
Interim Dividend - Rs. - 3.0000
GGENG
Right Issue of Equity Shares
HIGHENE
Stock Split From Rs.10/- to Rs.2/-
HONAUT
Dividend - Rs. - 90.0000
ICICIBANK
Final Dividend - Rs. - 5.0000
KRITIIND
Final Dividend - Rs. - 0.2000
KRITINUT
Final Dividend - Rs. - 0.1800
RJSHAH
Dividend - Rs. - 2.5000
RUPA
Dividend - Rs. - 3.0000
WSTCSTPAPR
Final Dividend - Rs. - 6.0000
NaMaste!!
*Good Morning*
• India Plans Contentious Law to Cut $75 Billion Utility Debt
• Indian Households Expect Inflation to Moderate, Says RBI Survey
• India Keeps Hawkish Stance After Delivering Half-Point Hike
• Indian Fuel Sellers Post Big Losses to Shield Customers
• Fintech Firm Paytm’s Quarterly Loss Widens Almost 70% on Costs
• India to Allow More Sugar Exports to Avoid Contract Defaults
• Sugar Futures Post Weekly Gain on Shrinking Brazilian Crop
• India Proposes Antitrust Law Revamp To Tighten Deals’ Scrutiny
• Binance CEO Denies Owning India’s Top Exchange Amid Asset Freeze
• UK Auto-Capital Mayor Wants India to Rev Up Motorcycle Industry
• India Official Reserves Rise After Four Weeks of Decrease
• Adani Ports to Report Results: Preview
• Bharti Airtel May Post Record Profit After Tariff Hike: Preview
• Global Funds Buy Net 16.1B Rupees of India Stocks Aug. 5 : NSE
o Domestic funds sell net 4.96b rupees of stocks
• Foreign Investors Buy Net INR17.3B of India Equities on Aug. 4
• Foreigners Sell Net INR6.16B of Indian Equity Derivatives Aug. 5Fails
• Affle India (AFFLE): 1Q net income +53% Y/y to 545.3m rupees, beats est. 517.5m; revenue 3.47b rupees vs. 1.52b
• Amara Raja Batteries (AMRJ): 1Q net income +5.6% Y/y to 1.31b rupees, est. 1.17b; revenue +39% to 26.2b
• Bharat Petroleum (BPCL): 1Q net loss 62.9B rupees, est. loss 22.9B; revenue +54% to 1.38T
• Coal India (COAL): To Seek Shareholders’ Approval for New Businesses; Plans Foray Into Lithium, Hydrogen, Battery Storage, Says in Annual Report
• Engineers India (ENGR): 1Q group net profit 648.1m rupees vs 26.8m Y/y; revenue 8.15b vs. 7.46b; to enter strategic pact with DEEP.KBB GmbH, for salt cavern projects
• Hindustan Petroleum (HPCL): 1Q net loss 102B rupees, est. loss 49.7B; revenue +57% to 1.21T
• Indian Overseas Bank (IOB): 1Q net income 3.92B Rupees Vs. 3.27B Y/y
• IRB Infrastructure (IRB): 1Q net income 3.63b rupees vs. 719.1m y/y, beats est. 738.2m; revenue +18% to 19.2b
• Mahanagar Gas (MAHGL): 1Q net income -9.3% Y/y to 1.85 billion rupees, beats est. 1.42b; Revenue jump to 15.93b vs. 6.67b y/y
• Marico (MRCO): 1Q net income +3.1% Y/y to 3.71b rupees, +3.1% y/y, estimate 3.69 bil Meets Estimates
• Maruti Suzuki (MSIL): LIC Cut holding in Maruti Suzuki to 4.2% from 6.2% Via market sale
• One 97 Communications (PAYTM): 1Q net loss 6.44B rupees vs. loss 3.8B Y/y; revenue +89% to 16.8b
• Petronet LNG (PLNG): Discussing Renewal of Long-Term Contract With Qatar;Not Expecting Supply Default by Long-Term Suppllier
• State Bank of India (SBIN): 1Q net profit -6.6% Y/y to 60.7b rupees, misses est. 83.9b, Provisions -39% Q/q to 43.9b; Gross NPA 3.91 vs 3.97 q/q
*Good Morning*
• India Plans Contentious Law to Cut $75 Billion Utility Debt
• Indian Households Expect Inflation to Moderate, Says RBI Survey
• India Keeps Hawkish Stance After Delivering Half-Point Hike
• Indian Fuel Sellers Post Big Losses to Shield Customers
• Fintech Firm Paytm’s Quarterly Loss Widens Almost 70% on Costs
• India to Allow More Sugar Exports to Avoid Contract Defaults
• Sugar Futures Post Weekly Gain on Shrinking Brazilian Crop
• India Proposes Antitrust Law Revamp To Tighten Deals’ Scrutiny
• Binance CEO Denies Owning India’s Top Exchange Amid Asset Freeze
• UK Auto-Capital Mayor Wants India to Rev Up Motorcycle Industry
• India Official Reserves Rise After Four Weeks of Decrease
• Adani Ports to Report Results: Preview
• Bharti Airtel May Post Record Profit After Tariff Hike: Preview
• Global Funds Buy Net 16.1B Rupees of India Stocks Aug. 5 : NSE
o Domestic funds sell net 4.96b rupees of stocks
• Foreign Investors Buy Net INR17.3B of India Equities on Aug. 4
• Foreigners Sell Net INR6.16B of Indian Equity Derivatives Aug. 5Fails
• Affle India (AFFLE): 1Q net income +53% Y/y to 545.3m rupees, beats est. 517.5m; revenue 3.47b rupees vs. 1.52b
• Amara Raja Batteries (AMRJ): 1Q net income +5.6% Y/y to 1.31b rupees, est. 1.17b; revenue +39% to 26.2b
• Bharat Petroleum (BPCL): 1Q net loss 62.9B rupees, est. loss 22.9B; revenue +54% to 1.38T
• Coal India (COAL): To Seek Shareholders’ Approval for New Businesses; Plans Foray Into Lithium, Hydrogen, Battery Storage, Says in Annual Report
• Engineers India (ENGR): 1Q group net profit 648.1m rupees vs 26.8m Y/y; revenue 8.15b vs. 7.46b; to enter strategic pact with DEEP.KBB GmbH, for salt cavern projects
• Hindustan Petroleum (HPCL): 1Q net loss 102B rupees, est. loss 49.7B; revenue +57% to 1.21T
• Indian Overseas Bank (IOB): 1Q net income 3.92B Rupees Vs. 3.27B Y/y
• IRB Infrastructure (IRB): 1Q net income 3.63b rupees vs. 719.1m y/y, beats est. 738.2m; revenue +18% to 19.2b
• Mahanagar Gas (MAHGL): 1Q net income -9.3% Y/y to 1.85 billion rupees, beats est. 1.42b; Revenue jump to 15.93b vs. 6.67b y/y
• Marico (MRCO): 1Q net income +3.1% Y/y to 3.71b rupees, +3.1% y/y, estimate 3.69 bil Meets Estimates
• Maruti Suzuki (MSIL): LIC Cut holding in Maruti Suzuki to 4.2% from 6.2% Via market sale
• One 97 Communications (PAYTM): 1Q net loss 6.44B rupees vs. loss 3.8B Y/y; revenue +89% to 16.8b
• Petronet LNG (PLNG): Discussing Renewal of Long-Term Contract With Qatar;Not Expecting Supply Default by Long-Term Suppllier
• State Bank of India (SBIN): 1Q net profit -6.6% Y/y to 60.7b rupees, misses est. 83.9b, Provisions -39% Q/q to 43.9b; Gross NPA 3.91 vs 3.97 q/q
India Daybook
Stocks in News
telegram.me/AlliesFin
Insurance companies: General Insurance Ind grows 16% (YoY), grows 31% (MoM) (Positive)
Eicher Motors: Royal Enfield launches the new Hunter 350 in Bangkok. (Positive)
Max Ventures: Company has been declared as a successful bidder by Axis Bank for purchase of two land parcels admeasuring 4 acres in Noida. (Positive)
IOB: Net Profit up 20% at â‚ą392 Cr Vs â‚ą327 Cr, NII up 17.2% at â‚ą1,753.7 Cr Vs â‚ą1,496.6 Cr YoY (Positive)
Raymond: Net profit at â‚ą80.90 cr vs loss of â‚ą156.51 cr, Revenue at â‚ą1,728.1 cr vs â‚ą825.7 cr (YoY) (Positive)
NMDC: Net profit at â‚ą1469.0 cr vs poll of â‚ą1250.0 cr, Revenue at â‚ą4767 cr vs poll of â‚ą4205 cr YoY (Positive)
SJVN gets 200-MW solar project from Maharashtra State Electricity Distribution Co Ltd (Positive)
Acrysil: Net profit up 39% at Rs 18.7 cr Vs Rs 13.5 cr, Revenue up 75.6% at Rs 171.3 cr Vs Rs 97.5 cr (YoY)
Balmer: Net profit up 52.8% at Rs 56.1 cr Vs Rs 36.7 cr, Revenue up 33.3% at Rs 648 cr Vs Rs 486.1 cr (YoY) (Positive)
BLS Int: Net profit up 49.9% at Rs 30.5 cr Vs Rs 20.3 cr, Revenue up 52.8% at Rs 272.8 cr Vs Rs 178.5 cr (YoY) (Positive)
Chemplast: Net profit up 40.8% at Rs 40.6 cr Vs Rs 28.8 cr, Revenue up 47% at Rs 1,411.3 cr Vs Rs 960.4 cr (YoY). (Positive)
Sansera: Net profit up 83.3% at Rs 34.1 cr Vs Rs 18.6 cr, Revenue up 36.3% at Rs 530.7 cr Vs Rs 389.5 cr YoY (Positive)
IRB Infra: Net profit at Rs 363.2 cr Vs Rs 72 cr, Revenue up 18.4% at Rs 1,924.6 cr Vs Rs 1,625.7 cr (YoY) (Positive)
West Coast: Net profit at â‚ą185.3 cr vs â‚ą32 cr, Revenue at â‚ą1,114.2 cr vs â‚ą537.6 cr (YoY) (Positive)
Vinati Org: Net profit up 25.1% at â‚ą101.2 cr vs â‚ą80.9 cr, Revenue up 31% at â‚ą506.3 cr vs â‚ą386.4 cr (YoY) (Positive)
Bayer Crop: Net profit up 19.3% at Rs 302.6 cr Vs Rs 253.7 cr, Revenue up 17.8% at Rs 1,667.4 cr Vs Rs 1,415.9 cr YoY (Positive)
Usha Martin: Net profit up 41.6% at â‚ą82.1 cr vs â‚ą58 cr, Revenue up 23.3% at â‚ą758.7 cr vs â‚ą615.3 cr YoY (Positive)
Lumax Auto: Net profit at â‚ą21.8 cr vs â‚ą3.4 cr, Revenue up 62% at â‚ą422 cr vs â‚ą260.5 cr YoY (Positive)
Rossari: Net profit up 17.1% at â‚ą28.7 cr vs â‚ą24.5 cr, Revenue up 88.1% at â‚ą434.7 cr vs â‚ą231.1 cr YoY (Positive)
Tata Motors: Tata Passenger Electric Mobility signs definitive agreement for the acquisition of Ford India's Sanand Plant For Rs 725.7 Cr (Neutral)
State Bank: Net profit at â‚ą6068 cr vs poll of â‚ą7688 cr, NII at â‚ą31196 cr vs poll of â‚ą32243 cr (Neutral)
MGL: Net profit at â‚ą185.2 cr vs poll of â‚ą181 cr, Revenue at â‚ą1454 cr vs poll of â‚ą1442 cr YoY (Neutral)
Marico: Net profit at â‚ą377.0 cr vs poll of â‚ą374.0 cr, Revenue at â‚ą2558 cr vs poll of â‚ą2562 cr YoY (Neutral)
Petronet: Net profit at â‚ą701.0 cr vs poll of â‚ą636.0 cr, Revenue at â‚ą14263 cr vs poll of â‚ą13654 cr YoY (Neutral)
Affle: Net profit up 52.7% at â‚ą54.5 cr vs â‚ą35.7 cr, Revenue at â‚ą347.5 cr vs â‚ą152.5 cr (YoY) (Neutral)
Nitin Spinners: Net profit up 9.3% at â‚ą65.6 cr vs â‚ą60 cr, Revenue up 28% at â‚ą708.8 cr vs â‚ą553.6 cr YoY (Neutral)
Amara Raja: Net profit up 6.1% at â‚ą131.5 cr vs â‚ą123.9 cr, Revenue up 39.9% at â‚ą2,620 cr vs â‚ą1,885.9 cr YoY (Neutral)
Karur Vysya Bank hikes repo-linked lending rates by 50 bps to 8.45% (Neutral)
One 97 Communications: Net loss of Rs 644.4 cr Vs loss of Rs 380.2 cr, Revenue up 88.5% at Rs 1,679.6 cr Vs Rs 890.8 cr (YoY) (Neutral)
REC: Board approves incorporating project-specific special purpose vehicles (Neutral)
CE Info: Net profit up 7.3% at Rs 24.2 cr Vs Rs 22.5 cr, Revenue up 14% at Rs 65 cr Vs Rs 57 cr QoQ (Neutral)
V Mart: Net profit at â‚ą20.45 cr vs loss of â‚ą28.71 cr, Revenue at â‚ą587.88 cr vs â‚ą177.41 cr (YoY) YoY (Neutral)
EIL: Net profit at Rs 64.8 cr Vs Rs 2.7 cr, Revenue up 9.2% at Rs 814.8 cr Vs Rs 746.1 cr YoY (Neutral)
Kirloskar Ferrous: Net profit down 39.9% at Rs 83.9 cr Vs Rs 139.5 cr, Revenue up 15.4% at Rs 949.9 cr Vs Rs 822.8 cr (YoY) (Neutral)
Nykaa: Net profit at Rs 5 cr vs Rs 3.5 cr, Revenue up 40.6% at Rs 1,148.4 cr vs Rs 817 cr (YoY) (Neutral)
CCL: Net profit up 20.3% at â‚ą52.7 cr vs â‚ą43.8 cr, Revenue up 56.2% at â‚ą509.27 cr vs â‚ą326.12 cr (YoY) (Neutral)
Stocks in News
telegram.me/AlliesFin
Insurance companies: General Insurance Ind grows 16% (YoY), grows 31% (MoM) (Positive)
Eicher Motors: Royal Enfield launches the new Hunter 350 in Bangkok. (Positive)
Max Ventures: Company has been declared as a successful bidder by Axis Bank for purchase of two land parcels admeasuring 4 acres in Noida. (Positive)
IOB: Net Profit up 20% at â‚ą392 Cr Vs â‚ą327 Cr, NII up 17.2% at â‚ą1,753.7 Cr Vs â‚ą1,496.6 Cr YoY (Positive)
Raymond: Net profit at â‚ą80.90 cr vs loss of â‚ą156.51 cr, Revenue at â‚ą1,728.1 cr vs â‚ą825.7 cr (YoY) (Positive)
NMDC: Net profit at â‚ą1469.0 cr vs poll of â‚ą1250.0 cr, Revenue at â‚ą4767 cr vs poll of â‚ą4205 cr YoY (Positive)
SJVN gets 200-MW solar project from Maharashtra State Electricity Distribution Co Ltd (Positive)
Acrysil: Net profit up 39% at Rs 18.7 cr Vs Rs 13.5 cr, Revenue up 75.6% at Rs 171.3 cr Vs Rs 97.5 cr (YoY)
Balmer: Net profit up 52.8% at Rs 56.1 cr Vs Rs 36.7 cr, Revenue up 33.3% at Rs 648 cr Vs Rs 486.1 cr (YoY) (Positive)
BLS Int: Net profit up 49.9% at Rs 30.5 cr Vs Rs 20.3 cr, Revenue up 52.8% at Rs 272.8 cr Vs Rs 178.5 cr (YoY) (Positive)
Chemplast: Net profit up 40.8% at Rs 40.6 cr Vs Rs 28.8 cr, Revenue up 47% at Rs 1,411.3 cr Vs Rs 960.4 cr (YoY). (Positive)
Sansera: Net profit up 83.3% at Rs 34.1 cr Vs Rs 18.6 cr, Revenue up 36.3% at Rs 530.7 cr Vs Rs 389.5 cr YoY (Positive)
IRB Infra: Net profit at Rs 363.2 cr Vs Rs 72 cr, Revenue up 18.4% at Rs 1,924.6 cr Vs Rs 1,625.7 cr (YoY) (Positive)
West Coast: Net profit at â‚ą185.3 cr vs â‚ą32 cr, Revenue at â‚ą1,114.2 cr vs â‚ą537.6 cr (YoY) (Positive)
Vinati Org: Net profit up 25.1% at â‚ą101.2 cr vs â‚ą80.9 cr, Revenue up 31% at â‚ą506.3 cr vs â‚ą386.4 cr (YoY) (Positive)
Bayer Crop: Net profit up 19.3% at Rs 302.6 cr Vs Rs 253.7 cr, Revenue up 17.8% at Rs 1,667.4 cr Vs Rs 1,415.9 cr YoY (Positive)
Usha Martin: Net profit up 41.6% at â‚ą82.1 cr vs â‚ą58 cr, Revenue up 23.3% at â‚ą758.7 cr vs â‚ą615.3 cr YoY (Positive)
Lumax Auto: Net profit at â‚ą21.8 cr vs â‚ą3.4 cr, Revenue up 62% at â‚ą422 cr vs â‚ą260.5 cr YoY (Positive)
Rossari: Net profit up 17.1% at â‚ą28.7 cr vs â‚ą24.5 cr, Revenue up 88.1% at â‚ą434.7 cr vs â‚ą231.1 cr YoY (Positive)
Tata Motors: Tata Passenger Electric Mobility signs definitive agreement for the acquisition of Ford India's Sanand Plant For Rs 725.7 Cr (Neutral)
State Bank: Net profit at â‚ą6068 cr vs poll of â‚ą7688 cr, NII at â‚ą31196 cr vs poll of â‚ą32243 cr (Neutral)
MGL: Net profit at â‚ą185.2 cr vs poll of â‚ą181 cr, Revenue at â‚ą1454 cr vs poll of â‚ą1442 cr YoY (Neutral)
Marico: Net profit at â‚ą377.0 cr vs poll of â‚ą374.0 cr, Revenue at â‚ą2558 cr vs poll of â‚ą2562 cr YoY (Neutral)
Petronet: Net profit at â‚ą701.0 cr vs poll of â‚ą636.0 cr, Revenue at â‚ą14263 cr vs poll of â‚ą13654 cr YoY (Neutral)
Affle: Net profit up 52.7% at â‚ą54.5 cr vs â‚ą35.7 cr, Revenue at â‚ą347.5 cr vs â‚ą152.5 cr (YoY) (Neutral)
Nitin Spinners: Net profit up 9.3% at â‚ą65.6 cr vs â‚ą60 cr, Revenue up 28% at â‚ą708.8 cr vs â‚ą553.6 cr YoY (Neutral)
Amara Raja: Net profit up 6.1% at â‚ą131.5 cr vs â‚ą123.9 cr, Revenue up 39.9% at â‚ą2,620 cr vs â‚ą1,885.9 cr YoY (Neutral)
Karur Vysya Bank hikes repo-linked lending rates by 50 bps to 8.45% (Neutral)
One 97 Communications: Net loss of Rs 644.4 cr Vs loss of Rs 380.2 cr, Revenue up 88.5% at Rs 1,679.6 cr Vs Rs 890.8 cr (YoY) (Neutral)
REC: Board approves incorporating project-specific special purpose vehicles (Neutral)
CE Info: Net profit up 7.3% at Rs 24.2 cr Vs Rs 22.5 cr, Revenue up 14% at Rs 65 cr Vs Rs 57 cr QoQ (Neutral)
V Mart: Net profit at â‚ą20.45 cr vs loss of â‚ą28.71 cr, Revenue at â‚ą587.88 cr vs â‚ą177.41 cr (YoY) YoY (Neutral)
EIL: Net profit at Rs 64.8 cr Vs Rs 2.7 cr, Revenue up 9.2% at Rs 814.8 cr Vs Rs 746.1 cr YoY (Neutral)
Kirloskar Ferrous: Net profit down 39.9% at Rs 83.9 cr Vs Rs 139.5 cr, Revenue up 15.4% at Rs 949.9 cr Vs Rs 822.8 cr (YoY) (Neutral)
Nykaa: Net profit at Rs 5 cr vs Rs 3.5 cr, Revenue up 40.6% at Rs 1,148.4 cr vs Rs 817 cr (YoY) (Neutral)
CCL: Net profit up 20.3% at â‚ą52.7 cr vs â‚ą43.8 cr, Revenue up 56.2% at â‚ą509.27 cr vs â‚ą326.12 cr (YoY) (Neutral)
Reliance to hold an annual shareholders meeting on August 29 (Neutral)
BDL: LIC cuts its shareholding in Bharat Dynamics to 4.4% from 6.4% (Neutral)
Maruti: LIC decreases its shareholding in Maruti Suzuki to 4.2% from 6.2% (Neutral)
Birla Corp: Cons Net Profit down 56.2% at â‚ą62 Cr Vs â‚ą141.5, Cons Revenue up 26% at â‚ą2,203.8 Cr VS â‚ą1,749.1 Cr (YoY)
Tarsons: Net profit down 18.1% at â‚ą20.3 cr vs â‚ą24.8 cr, Revenue down 0.7% at â‚ą68.6 cr vs â‚ą69.1 cr YoY
Fortis: Net profit down 68.8% at Rs 134.3 cr Vs Rs 430.6 cr, Revenue up 5.5% at Rs 1,487.9 cr Vs Rs 1,410.3 cr (YoY)
Sudarshan Chem: Net profit down 73% at Rs 7.1 cr Vs Rs 26.2 cr, Revenue up 16.7% at Rs 549.7 cr Vs Rs 471 cr (YoY)
Honda Power: Net profit down 75.2% at Rs 4.9 cr Vs Rs 19.8 cr, Revenue down 24.3% at Rs 200.1 cr Vs Rs 264.2 cr (YoY).
BPCL: Revenue up 16% to Rs 121,066 cr vs Rs 104,060 crore, EBITDA Loss of Rs 5,902 cr Vs EBITDA Profit of Rs 5,835 cr YoY
HPCL: Revenue up 56% to Rs 1.22 Lakh crore, Loss of Rs 10197cr Vs Profit of Rs 1795 cr YoY
BDL: LIC cuts its shareholding in Bharat Dynamics to 4.4% from 6.4% (Neutral)
Maruti: LIC decreases its shareholding in Maruti Suzuki to 4.2% from 6.2% (Neutral)
Birla Corp: Cons Net Profit down 56.2% at â‚ą62 Cr Vs â‚ą141.5, Cons Revenue up 26% at â‚ą2,203.8 Cr VS â‚ą1,749.1 Cr (YoY)
Tarsons: Net profit down 18.1% at â‚ą20.3 cr vs â‚ą24.8 cr, Revenue down 0.7% at â‚ą68.6 cr vs â‚ą69.1 cr YoY
Fortis: Net profit down 68.8% at Rs 134.3 cr Vs Rs 430.6 cr, Revenue up 5.5% at Rs 1,487.9 cr Vs Rs 1,410.3 cr (YoY)
Sudarshan Chem: Net profit down 73% at Rs 7.1 cr Vs Rs 26.2 cr, Revenue up 16.7% at Rs 549.7 cr Vs Rs 471 cr (YoY)
Honda Power: Net profit down 75.2% at Rs 4.9 cr Vs Rs 19.8 cr, Revenue down 24.3% at Rs 200.1 cr Vs Rs 264.2 cr (YoY).
BPCL: Revenue up 16% to Rs 121,066 cr vs Rs 104,060 crore, EBITDA Loss of Rs 5,902 cr Vs EBITDA Profit of Rs 5,835 cr YoY
HPCL: Revenue up 56% to Rs 1.22 Lakh crore, Loss of Rs 10197cr Vs Profit of Rs 1795 cr YoY
NABARD - Status of MicroFinance 2021-22.pdf
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Emailing NABARD - Status of MicroFinance 2021-22.pdf
Dow -58.13 pts ,Nsdq -150.53 pts, S&P
-17.59 pts, Bovespa +248 pts , Ftse +5 pts , Dax -152 pts , Cac -34 pts , Crude @ $90.21 brl (-0.29), Brent @ $96.11 brl (-0.20) , Gold @ 1809.20 (-3.30), Silver @ $20.48 (-0.00), Euro @ $1.0248, JPY @ $135.19, INR @ 79.563
Today's Corporate Action
10th Aug Ex Date
CUB
Dividend - Rs. - 1.0000
DIVSHKT
Final Dividend - Rs. - 2.0000
GESHIP
Interim Dividend - Rs. - 5.4000
KALYANIFRG
Final Dividend - Rs. - 3.0000
KEMP
Final Dividend - Rs. - 4.0000
NHPC
Final Dividend - Rs. - 0.5000
NTPC
Final Dividend - Rs. - 3.0000
SANGHVIMOV
Dividend - Rs. - 1.0000
SANSERA
Dividend - Rs. - 2.0000
SIL
Dividend - Rs. - 0.7500
VAIBHAVGBL
Interim Dividend - Rs. - 1.5000
Stock under F&O ban on NSE
10-Aug-22
1BALRAMCHIN
2DELTACORP
3ESCORTS
-17.59 pts, Bovespa +248 pts , Ftse +5 pts , Dax -152 pts , Cac -34 pts , Crude @ $90.21 brl (-0.29), Brent @ $96.11 brl (-0.20) , Gold @ 1809.20 (-3.30), Silver @ $20.48 (-0.00), Euro @ $1.0248, JPY @ $135.19, INR @ 79.563
Today's Corporate Action
10th Aug Ex Date
CUB
Dividend - Rs. - 1.0000
DIVSHKT
Final Dividend - Rs. - 2.0000
GESHIP
Interim Dividend - Rs. - 5.4000
KALYANIFRG
Final Dividend - Rs. - 3.0000
KEMP
Final Dividend - Rs. - 4.0000
NHPC
Final Dividend - Rs. - 0.5000
NTPC
Final Dividend - Rs. - 3.0000
SANGHVIMOV
Dividend - Rs. - 1.0000
SANSERA
Dividend - Rs. - 2.0000
SIL
Dividend - Rs. - 0.7500
VAIBHAVGBL
Interim Dividend - Rs. - 1.5000
Stock under F&O ban on NSE
10-Aug-22
1BALRAMCHIN
2DELTACORP
3ESCORTS
Namaste !!
• India to Stop Carbon Credit Exports Until Climate Goals Are Met
o Changed law to prepare Indian Cos for export carbon taxes
• India’s July Oil Products Consumption Rises 6.1% Y/y
• India Seeks to Oust China Firms From Sub-$150 Phone Market
o Xiaomi, Realme and Transsion will be among those affected
• India’s Sensex Rises to a Four-Month High Led By HDFC, Reliance
• Wheat Product Shippers Will Need India’s Approval Before Exports
• Monsoon-Sown Rice Area Drops, Cotton Planting Rises in India
• India Cumulative Monsoon Rainfall 7% Above Normal as of Aug. 8
• Indian Company Private Bond Sales Fall 77% W/w to INR56.9 Billion
• Global Funds Buy Net 14.5B Rupees of India Stocks Aug. 8: NSE
o Domestic funds sell net 1.41b rupees of stocks
• Foreign Investors Buy Net INR20B of Indian Equities on Aug. 5
• Foreigners Buy Net INR57.5B of Indian Equity Derivatives Aug. 8
• Indian Banks’ Risks May Ease as RBI Could Taper Rate Hikes Next
• Adani Ports May Rely on M&A to Boost Growth: Earnings Outlook
• Vedanta’s Risk Deflation May Not Inflate Bonds: Credit Outlook
• Peak Car Is Just 14 Years Away After Over a Century of Growth
• India Could Sustain Equity Rally on Inflows, Activity Uptick
• ABB India (ABB): 2Q Profit doubled to 1.4b rupees, Exceeds est.
• AIA Engineering (AIAE): 1Q profit 1.9b rupees vs 1.49b Y/y; Sales 10.64b vs 7.3b
• AU Small Finance Bank (AUBANK): Approves QIP issue price at 580 rupees/share
• Bajaj Finance (BAF): New Deal: Bajaj Housing Plans to Sell up to Inr10b 3Y Bonds
• Bharti Airtel (BHARTI): 1Q net income 16b rupees vs. 2.84b y/y, misses est. 22.17b; revenue +22% to 328b; Ebitda margin 50.6% vs. 49.1% y/y
• City Union Bank (CUBK): 1Q net income +32% Y/y to 2.25b rupees, beats est. 1.95b, Provisions -11% q/q to 1.52b; gross NPA 4.65% vs. 4.7% q/q
• Dish TV India (DITV): 1Q profit 178.5m rupees vs 502.4m Y/y
• IDFC (IDFC): 1Q profit 2.5b rupees vs loss 4.1b Y/y
• Indraprastha Gas (IGL): 1Q profit 4.2b rupees, beats est. 3.66b
• Indian Hotels (IH): 1Q net income 1.7b rupees vs. loss 2.77b y/y, beats est. 1.49b; revenue 12.7b vs. 3.45b
• Indian Oil Corp. (IOCL): Lanka IOC Expresses Interest to Take Over Part of CPC’s Network
• Gujarat Narmada Valley (GNFC): 1Q Net Income 5.71B rupees Vs. 2.42B Y/y; revenue +94% to 27b
• JSW Steel (JSTL): Says July crude steel output rises 14% Y/y
• MRF (MRF): 1Q net income 1.12b rupees vs 1.61b Y/y, misses est. 1.54b; Sales climbed to 56b vs 41.3b
• Natco Pharma (NTCPH): 1Q net income of 3.2b rupees vs 750m Y/y, beat est. 2.35b; sales more than doubled to 8.8b
• National Aluminium (NACL): 1Q net income +66% Y/y to 5.79b rupees, misess est. 6.69b; revenue +53% to 37.8b
• National Highways Infra (NHIT): To consider raising funds on Aug. 12
• Power Grid Corp (PWGR): 1Q Net Income -38% Y/y to 37.7b rupees, beats est. 28.1b; Revenue +7% to 104.5b
• Prestige Estates Projects (PEPL): 1Q profit 2.05b rupees vs 458m Y/y; sales 19.4b vs 13.6b
• Samvardhana Motherson (MOTHERSO): 1Q Net Income -51% Y/y to 1.41b rupees, misses est. 2.15b; revenue +9% to 176.1b
• Sobha (SOBHA): 1Q profit 137m rupees vs 108m Y/y; Sales 5.8b vs 5.1b
• Tata Chemicals (TTCH) 1Q profit 5.89b rupees vs 2.88b Y/y; sales 39.95b vs 29.8b
• Torrent Power (TPW): 1Q Net Income 5.02b rupees vs. 2.07b y/y, beats est. 3.84b; Revenue 65.1b vs. 31b
• Whirlpool India (WHIRL): 1Q net income 779m rupees vs. 233.4m y/y, misses est. 1.09b; revenue +48% to 19.8b
• India to Stop Carbon Credit Exports Until Climate Goals Are Met
o Changed law to prepare Indian Cos for export carbon taxes
• India’s July Oil Products Consumption Rises 6.1% Y/y
• India Seeks to Oust China Firms From Sub-$150 Phone Market
o Xiaomi, Realme and Transsion will be among those affected
• India’s Sensex Rises to a Four-Month High Led By HDFC, Reliance
• Wheat Product Shippers Will Need India’s Approval Before Exports
• Monsoon-Sown Rice Area Drops, Cotton Planting Rises in India
• India Cumulative Monsoon Rainfall 7% Above Normal as of Aug. 8
• Indian Company Private Bond Sales Fall 77% W/w to INR56.9 Billion
• Global Funds Buy Net 14.5B Rupees of India Stocks Aug. 8: NSE
o Domestic funds sell net 1.41b rupees of stocks
• Foreign Investors Buy Net INR20B of Indian Equities on Aug. 5
• Foreigners Buy Net INR57.5B of Indian Equity Derivatives Aug. 8
• Indian Banks’ Risks May Ease as RBI Could Taper Rate Hikes Next
• Adani Ports May Rely on M&A to Boost Growth: Earnings Outlook
• Vedanta’s Risk Deflation May Not Inflate Bonds: Credit Outlook
• Peak Car Is Just 14 Years Away After Over a Century of Growth
• India Could Sustain Equity Rally on Inflows, Activity Uptick
• ABB India (ABB): 2Q Profit doubled to 1.4b rupees, Exceeds est.
• AIA Engineering (AIAE): 1Q profit 1.9b rupees vs 1.49b Y/y; Sales 10.64b vs 7.3b
• AU Small Finance Bank (AUBANK): Approves QIP issue price at 580 rupees/share
• Bajaj Finance (BAF): New Deal: Bajaj Housing Plans to Sell up to Inr10b 3Y Bonds
• Bharti Airtel (BHARTI): 1Q net income 16b rupees vs. 2.84b y/y, misses est. 22.17b; revenue +22% to 328b; Ebitda margin 50.6% vs. 49.1% y/y
• City Union Bank (CUBK): 1Q net income +32% Y/y to 2.25b rupees, beats est. 1.95b, Provisions -11% q/q to 1.52b; gross NPA 4.65% vs. 4.7% q/q
• Dish TV India (DITV): 1Q profit 178.5m rupees vs 502.4m Y/y
• IDFC (IDFC): 1Q profit 2.5b rupees vs loss 4.1b Y/y
• Indraprastha Gas (IGL): 1Q profit 4.2b rupees, beats est. 3.66b
• Indian Hotels (IH): 1Q net income 1.7b rupees vs. loss 2.77b y/y, beats est. 1.49b; revenue 12.7b vs. 3.45b
• Indian Oil Corp. (IOCL): Lanka IOC Expresses Interest to Take Over Part of CPC’s Network
• Gujarat Narmada Valley (GNFC): 1Q Net Income 5.71B rupees Vs. 2.42B Y/y; revenue +94% to 27b
• JSW Steel (JSTL): Says July crude steel output rises 14% Y/y
• MRF (MRF): 1Q net income 1.12b rupees vs 1.61b Y/y, misses est. 1.54b; Sales climbed to 56b vs 41.3b
• Natco Pharma (NTCPH): 1Q net income of 3.2b rupees vs 750m Y/y, beat est. 2.35b; sales more than doubled to 8.8b
• National Aluminium (NACL): 1Q net income +66% Y/y to 5.79b rupees, misess est. 6.69b; revenue +53% to 37.8b
• National Highways Infra (NHIT): To consider raising funds on Aug. 12
• Power Grid Corp (PWGR): 1Q Net Income -38% Y/y to 37.7b rupees, beats est. 28.1b; Revenue +7% to 104.5b
• Prestige Estates Projects (PEPL): 1Q profit 2.05b rupees vs 458m Y/y; sales 19.4b vs 13.6b
• Samvardhana Motherson (MOTHERSO): 1Q Net Income -51% Y/y to 1.41b rupees, misses est. 2.15b; revenue +9% to 176.1b
• Sobha (SOBHA): 1Q profit 137m rupees vs 108m Y/y; Sales 5.8b vs 5.1b
• Tata Chemicals (TTCH) 1Q profit 5.89b rupees vs 2.88b Y/y; sales 39.95b vs 29.8b
• Torrent Power (TPW): 1Q Net Income 5.02b rupees vs. 2.07b y/y, beats est. 3.84b; Revenue 65.1b vs. 31b
• Whirlpool India (WHIRL): 1Q net income 779m rupees vs. 233.4m y/y, misses est. 1.09b; revenue +48% to 19.8b
U.S CPI (YOY) (JUL) ACTUAL: 8.5% VS 9.1% PREVIOUS; EST 8.7%
U.S CORE CPI (MOM) (JUL) ACTUAL: 0.3% VS 0.7% PREVIOUS; EST 0.5%
U.S CORE CPI (YOY) (JUL) ACTUAL: 5.9% VS 5.9% PREVIOUS; EST 6.1%
U.S CPI (MOM) (JUL) ACTUAL: 0.0% VS 1.3% PREVIOUS; EST 0.2%
U.S CORE CPI (MOM) (JUL) ACTUAL: 0.3% VS 0.7% PREVIOUS; EST 0.5%
U.S CORE CPI (YOY) (JUL) ACTUAL: 5.9% VS 5.9% PREVIOUS; EST 6.1%
U.S CPI (MOM) (JUL) ACTUAL: 0.0% VS 1.3% PREVIOUS; EST 0.2%
RESULTS #TOMORROW Thursday
#Nifty
APOLLO HOSPITAL
#Vayda
AUROBINDO PHARMA
BATA INDIA
BHARAT FORGE
PAGE INDUSTRIES
TRENT
RESULTS #TOMORROW Thursday
#KuchCashWaali
ASTER DM
GUJARAT AMBUJA EXPORTS
GE T&D
GREAVES COTTON
GARDEN REACH
JET AIRWAYS
NUCLEUS EXPORTS
PANASONIC CARBON
QUESS CORP
SAPPHIRE FOODS
SHILPA MEDICARE
SPENCERS RETAIL
SUNDARAM BRAKE
TNPL
WONDERLA HOLIDAYS
IMP EX-DIVIDEND #Tomorrow
COAL INDIA – Rs 3
DIVIS – Rs 30
ENDURANCE – Rs 6.25
ERIS – Rs 7.35
FINE ORGANIC – Rs 9
GODFREY – Rs 28
GRASIM – Rs 10
HESTER – Rs 10
HINDALCO – Rs 4
INDUSIND BANK – Rs 8.5
IOC – Rs 2.4
JUBILANT PHARMOVA – Rs 5
MGL – Rs 15.5
NCC – Rs 2
VST TILLERS – 20
#Nifty
APOLLO HOSPITAL
#Vayda
AUROBINDO PHARMA
BATA INDIA
BHARAT FORGE
PAGE INDUSTRIES
TRENT
RESULTS #TOMORROW Thursday
#KuchCashWaali
ASTER DM
GUJARAT AMBUJA EXPORTS
GE T&D
GREAVES COTTON
GARDEN REACH
JET AIRWAYS
NUCLEUS EXPORTS
PANASONIC CARBON
QUESS CORP
SAPPHIRE FOODS
SHILPA MEDICARE
SPENCERS RETAIL
SUNDARAM BRAKE
TNPL
WONDERLA HOLIDAYS
IMP EX-DIVIDEND #Tomorrow
COAL INDIA – Rs 3
DIVIS – Rs 30
ENDURANCE – Rs 6.25
ERIS – Rs 7.35
FINE ORGANIC – Rs 9
GODFREY – Rs 28
GRASIM – Rs 10
HESTER – Rs 10
HINDALCO – Rs 4
INDUSIND BANK – Rs 8.5
IOC – Rs 2.4
JUBILANT PHARMOVA – Rs 5
MGL – Rs 15.5
NCC – Rs 2
VST TILLERS – 20
• 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
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
đź‘Ť1
*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*
*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*
đź‘Ť1
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.
*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.
*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.
*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
“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*
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*