*NCL Industries:* Cement Sales volume up 44% in Q1FY22 to 0.698 MnT YoY vs 0.484 MnT but marginally down QoQ vs 0.702 Mnt. Positive
Karix Mobile, a wholly-owned subsidiary of Tanla Platforms Limited, today announced the deployment of a
conversational solution for Panasonic India Limited using the WhatsApp Business Solution Platform. The solution will facilitate one-to-one conversations between Panasonic’s customers and the brand. positive
conversational solution for Panasonic India Limited using the WhatsApp Business Solution Platform. The solution will facilitate one-to-one conversations between Panasonic’s customers and the brand. positive
*Titan – Q4FY21 Business Update – Neutral*
Titan Sales in Q1FY22 increased by 117%yoy on lower base. As compared to Q4 FY21 sales declined by -61% and as compared to Q1FY20 it has declined by -43%.
The Company entered the quarter with a good sales momentum however most stores were shut during May.
The sales recovery is gradually improving across the businesses, along with the increase in the store operational days. This year, Watches & Wearables and Eyewear segments have also witnessed rapid recovery in walk-ins with the re-opening of stores, which was seen in only Jewellery division last year. *The Company recorded revenue growth of ~117% (excluding bullion sales) in Q1’22, with revenue contribution of approx. 50%, 10% and 40% coming from April, May and June months respectively.*
*Jewellery*
The division grew by ~107% (excluding bullion sales), compared to last year, primarily due to zero sales in April of last year. Most of the sales of May month was lost in both the years.
The division is gaining good traction in new customers and its mix in total buyers has reached the pre-pandemic levels.
* 90%+ of stores are now open*
The government has started the phased implementation of mandatory hallmarking of gold jewellery with effect from June 16, 2021
Network expansion plans got delayed due to the lockdowns. The division added 5 Tanishq stores on a net basis in the quarter
*Watches & Wearables*
The division grew by ~280% over Q1'21 as sales were nil in April month of last year and moreover *the recovery this year has been faster than that witnessed last year.*
Recovery in higher ticket products is much better compared to the recovery in lower priced products.
Sales were strong in the E-commerce channel especially in the second half of April and May.
In Q1, the division closed 2 stores of WOT & Fastrack each and opened 3 Helios stores, on a net basis
*Eye Wear*
The division grew by ~117% over Q1’21 as sales were nil in April month of last year and also on back of rapid recovery in walk-ins in May and June months, compared to last year.
During the quarter, the division added 6 stores on a net basis
*Other Businesses*
*_Taneira_* stores were operational for about 30% of the total store days, in the quarter gone by.
*_Fragrances & Accessories business_* in Q1 had a slow recovery, however grew by 3 times over the last year.
Being highly discretionary, all categories got impacted due to low opportunities to step out of home for work, social gatherings or for attending schools & colleges. Fragrances recovery was relatively much better.
*Titan Engineering and Automation Limited (100% owned)*
TEAL had a revenue decline of 15% in Q1.
*Caratlane (72.3% owned)*
CaratLane grew by ~274% over Q1’21. Total store operational days were 41% for the quarter.
CaratLane opened 4 new stores during the quarter taking the total store count to 121.
Titan Sales in Q1FY22 increased by 117%yoy on lower base. As compared to Q4 FY21 sales declined by -61% and as compared to Q1FY20 it has declined by -43%.
The Company entered the quarter with a good sales momentum however most stores were shut during May.
The sales recovery is gradually improving across the businesses, along with the increase in the store operational days. This year, Watches & Wearables and Eyewear segments have also witnessed rapid recovery in walk-ins with the re-opening of stores, which was seen in only Jewellery division last year. *The Company recorded revenue growth of ~117% (excluding bullion sales) in Q1’22, with revenue contribution of approx. 50%, 10% and 40% coming from April, May and June months respectively.*
*Jewellery*
The division grew by ~107% (excluding bullion sales), compared to last year, primarily due to zero sales in April of last year. Most of the sales of May month was lost in both the years.
The division is gaining good traction in new customers and its mix in total buyers has reached the pre-pandemic levels.
* 90%+ of stores are now open*
The government has started the phased implementation of mandatory hallmarking of gold jewellery with effect from June 16, 2021
Network expansion plans got delayed due to the lockdowns. The division added 5 Tanishq stores on a net basis in the quarter
*Watches & Wearables*
The division grew by ~280% over Q1'21 as sales were nil in April month of last year and moreover *the recovery this year has been faster than that witnessed last year.*
Recovery in higher ticket products is much better compared to the recovery in lower priced products.
Sales were strong in the E-commerce channel especially in the second half of April and May.
In Q1, the division closed 2 stores of WOT & Fastrack each and opened 3 Helios stores, on a net basis
*Eye Wear*
The division grew by ~117% over Q1’21 as sales were nil in April month of last year and also on back of rapid recovery in walk-ins in May and June months, compared to last year.
During the quarter, the division added 6 stores on a net basis
*Other Businesses*
*_Taneira_* stores were operational for about 30% of the total store days, in the quarter gone by.
*_Fragrances & Accessories business_* in Q1 had a slow recovery, however grew by 3 times over the last year.
Being highly discretionary, all categories got impacted due to low opportunities to step out of home for work, social gatherings or for attending schools & colleges. Fragrances recovery was relatively much better.
*Titan Engineering and Automation Limited (100% owned)*
TEAL had a revenue decline of 15% in Q1.
*Caratlane (72.3% owned)*
CaratLane grew by ~274% over Q1’21. Total store operational days were 41% for the quarter.
CaratLane opened 4 new stores during the quarter taking the total store count to 121.
World Markets
Dow - 209
Nasdaq + 24
Dax - 151
Nikkei - 245
Hangseng - 301
Sgxnifty - 51 (15781)
Brent Crude 74.58
Dow Fut - 28
Dollar Index 92.53
Dow - 209
Nasdaq + 24
Dax - 151
Nikkei - 245
Hangseng - 301
Sgxnifty - 51 (15781)
Brent Crude 74.58
Dow Fut - 28
Dollar Index 92.53
Pledge Share Details
Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 5.04 crore shares on July 5.
Sun Pharmaceutical Industries: Promoter Shanghvi Finance invoked pledge of 60.60 lakh shares on July 2.
Zee Learn: Promoters (Essel Media Ventures and Asian Satellite Broadcast) invoked pledge of 1 crore shares on July 1.
Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 5.04 crore shares on July 5.
Sun Pharmaceutical Industries: Promoter Shanghvi Finance invoked pledge of 60.60 lakh shares on July 2.
Zee Learn: Promoters (Essel Media Ventures and Asian Satellite Broadcast) invoked pledge of 1 crore shares on July 1.
Stocks To Watch
Titan Company: June quarter revenue grew by 117%. Jewellery unit sales grew by 107% on year primarily due to zero sales in April of last year. While most of the sales in May were lost in both the years, June numbers were marginally ahead of the year ago sales. Around 90%+ of jewellery stores are now open. The division added 5 Tanishq stores on a net basis in the quarter. The watches & wearables unit grew by about 280% in the quarter over year ago figures, and the eyewear division grew by 117% YoY as sales were nil in April 2020, the company said.
Mahindra & Mahindra: To acquire up to 31.2% in ReNew Sunlight Energy Pvt Ltd. The company plans to acquire up to 1.61 crore shares in RSEPL, in one or more tranches, for Rs 16.07 crore. RSEPL will build, own, and operate solar power plant with 58 MWp capacity to generate around 100 million units a year and feed it into the Maharashtra State Electricity Distribution Grid. According to a pact between Mahindra and discoms, the company’s manufacturing plants in Maharashtra will consume the solar power generated.
HDFC: The National Housing Bank has imposed monetary penalty on Housing Development Finance Corporation Ltd of Rs 4.75 lakh for non-compliance with certain provisions.
Sobha: Achieved total sales volume of 8.95 lakh square feet worth Rs 683 crore in quarter ended June. Total sales value up 40% year-on-year at Rs 682.9 crore Vs Rs 487.7 crore.Sobha share of sale value up 45% YoY at Rs 570.9 crore Vs Rs 393.1 crore. Total average price realization up 1.70% at Rs 762.6 crore Vs Rs 749.8 crore. Average cost of borrowing has further come down during the quarter. Further the company has planned new launches of 13.35 million square feet.
NMDC: Offer for sale by government was subscribed 2.13 times of base size at a clearing price above the floor price by non-retail investors. The OFS received bids for 22.55 crore shares compared with 10.55 crore shares offered to the non-retail segment on the first day of sale. Bids received at indicative price of Rs 166.46 per share versus floor price of Rs 165. Government to exercise the green shoe option of selling additional 10.22 crore shares. Retail investors will get a chance to bid today.
Coffee Day Enterprises: Defaulted on payment of interest/repayment of principal amount on loans from banks and unlisted debt securities worth Rs 280.54 crore
Kotak Mahindra Bank: Kotak Securities Ltd, a subsidiary of the bank, has invested Rs 10 crore for a 9.96% in the total share capital of Kredent InfoEdge.
Mastek: Appointed Hiral Chandrana as Global Chief Executive Officer of Mastek Group, with effect from July 6.
Gillette India: Appointed Gautam Kamath as Chief Financial Officer and Additional (Executive) Director of the company effective August 1. Kamath will replace Gagan Sawhney who has resigned from the post effective July 31.
Titan Company: June quarter revenue grew by 117%. Jewellery unit sales grew by 107% on year primarily due to zero sales in April of last year. While most of the sales in May were lost in both the years, June numbers were marginally ahead of the year ago sales. Around 90%+ of jewellery stores are now open. The division added 5 Tanishq stores on a net basis in the quarter. The watches & wearables unit grew by about 280% in the quarter over year ago figures, and the eyewear division grew by 117% YoY as sales were nil in April 2020, the company said.
Mahindra & Mahindra: To acquire up to 31.2% in ReNew Sunlight Energy Pvt Ltd. The company plans to acquire up to 1.61 crore shares in RSEPL, in one or more tranches, for Rs 16.07 crore. RSEPL will build, own, and operate solar power plant with 58 MWp capacity to generate around 100 million units a year and feed it into the Maharashtra State Electricity Distribution Grid. According to a pact between Mahindra and discoms, the company’s manufacturing plants in Maharashtra will consume the solar power generated.
HDFC: The National Housing Bank has imposed monetary penalty on Housing Development Finance Corporation Ltd of Rs 4.75 lakh for non-compliance with certain provisions.
Sobha: Achieved total sales volume of 8.95 lakh square feet worth Rs 683 crore in quarter ended June. Total sales value up 40% year-on-year at Rs 682.9 crore Vs Rs 487.7 crore.Sobha share of sale value up 45% YoY at Rs 570.9 crore Vs Rs 393.1 crore. Total average price realization up 1.70% at Rs 762.6 crore Vs Rs 749.8 crore. Average cost of borrowing has further come down during the quarter. Further the company has planned new launches of 13.35 million square feet.
NMDC: Offer for sale by government was subscribed 2.13 times of base size at a clearing price above the floor price by non-retail investors. The OFS received bids for 22.55 crore shares compared with 10.55 crore shares offered to the non-retail segment on the first day of sale. Bids received at indicative price of Rs 166.46 per share versus floor price of Rs 165. Government to exercise the green shoe option of selling additional 10.22 crore shares. Retail investors will get a chance to bid today.
Coffee Day Enterprises: Defaulted on payment of interest/repayment of principal amount on loans from banks and unlisted debt securities worth Rs 280.54 crore
Kotak Mahindra Bank: Kotak Securities Ltd, a subsidiary of the bank, has invested Rs 10 crore for a 9.96% in the total share capital of Kredent InfoEdge.
Mastek: Appointed Hiral Chandrana as Global Chief Executive Officer of Mastek Group, with effect from July 6.
Gillette India: Appointed Gautam Kamath as Chief Financial Officer and Additional (Executive) Director of the company effective August 1. Kamath will replace Gagan Sawhney who has resigned from the post effective July 31.
Trading Tweaks
Ex-Date Final Dividend: Kalpataru Power Transmission, Onward Technologies
Ex-Date Dividend: Mayur Uniquoters, Ultramarine & Pigments
Record Date Final Dividend: Piramal Enterprises, SKF India
Move Into Short-Term ASM Framework: Privi Speciality Chemicals, Apex Frozen Foods, Heritage Foods
Move Out Of Short-Term ASM Framework: Future Consumer, Nahar Spinning Mills
Move Into ASM Framework: Nahar Spinning Mills, HFCL, Sastasundar Ventures, Gulshan Polyols, Newgen Software Technologies
Price Band Revised From 20% To 10%: Xelpmoc Design And Tech
Ex-Date Final Dividend: Kalpataru Power Transmission, Onward Technologies
Ex-Date Dividend: Mayur Uniquoters, Ultramarine & Pigments
Record Date Final Dividend: Piramal Enterprises, SKF India
Move Into Short-Term ASM Framework: Privi Speciality Chemicals, Apex Frozen Foods, Heritage Foods
Move Out Of Short-Term ASM Framework: Future Consumer, Nahar Spinning Mills
Move Into ASM Framework: Nahar Spinning Mills, HFCL, Sastasundar Ventures, Gulshan Polyols, Newgen Software Technologies
Price Band Revised From 20% To 10%: Xelpmoc Design And Tech
Money Market Update
The rupee ended at 74.55 against the U.S. Dollar on Tuesday as compared to Monday's closing of 74.31.
The rupee ended at 74.55 against the U.S. Dollar on Tuesday as compared to Monday's closing of 74.31.
Pledge Share Details
💫Adani Transmission: Promoter Adani Tradeline LLP created a pledge of 66.06 lakh shares between July 2-3.
💫HFCL: Promoters (MN Ventures, Nextwave Communications and Anant Nahata) revoked pledge of 18.11 crore shares between July 2-3.
💫JSW Steel: Promoter JTPM Metal Traders revoked pledge of 5.84 lakh shares between June 29-30.
💫Prime Focus: Promoter Naresh Malhotra revoked pledge of 93.60 lakh shares on June 1.
💫SH Kelkar and Company: Promoters (Keva Constructions and Kedar Vaze) created a pledge of 50 lakh shares on June 29.
💫Adani Transmission: Promoter Adani Tradeline LLP created a pledge of 66.06 lakh shares between July 2-3.
💫HFCL: Promoters (MN Ventures, Nextwave Communications and Anant Nahata) revoked pledge of 18.11 crore shares between July 2-3.
💫JSW Steel: Promoter JTPM Metal Traders revoked pledge of 5.84 lakh shares between June 29-30.
💫Prime Focus: Promoter Naresh Malhotra revoked pledge of 93.60 lakh shares on June 1.
💫SH Kelkar and Company: Promoters (Keva Constructions and Kedar Vaze) created a pledge of 50 lakh shares on June 29.
*Good Morning*
India June Gross GST Rev. Collection 928.5b Rupees, Up 2% Y/y
Chip Crisis Deepens With Daimler, Jaguar Warning of Lost Sales
Tata Motors shares sink on lower wholesale volumes
Indian Bonds Slide as RBI’s Choice of Purchase Papers Disappoint
Yield on the benchmark 10-yr bond rises nine basis points
Telus International Buys India’s Playment to Expand AI Solutions
India Cumulative Monsoon Rainfall 2% Below Normal as of July 6
World Coffee Exports Fell 10.1% Y/y in May: ICO
Money Rolls Into Emerging Market ETFs for 35th Consecutive Week
Global Funds Sell Net INR5.43B of India Stocks on Tuesday: NSE
Domestic funds buy net 5.21b rupees of stocks
Foreign Investors Buy Net INR4.39B of Indian Equities on July 5
Foreigners Buy Net INR32.7B of Indian Equity Derivatives Tuesday
Ministerial probables arrive in Delhi amid Cabinetreshuffle buzz: PTI
MHA calls meet of NE states on Jul. 7 to discuss COVID-19 situation: PTI
India’s hiring rate recovered moderately from 10% in Apr to 35% in May 2021: PTI
Kotak Mahindra Bank (KMB): Says Kotak Securities to buy 9.96% stake in Kredent Infoedge for 100m rupees
Mahindra & Mahindra (MM): To acquire up to 31.2% in Indian Solar Power Generator
NMDC (NMDC): Says Chhattisgarh issue LoI to Bailadila mine for grant of mining lease
Sobha (SOBHA): 1Q total new sales 895,539 sq. ft vs 650,400 sq. ft y/y; average price realization INR7,626/sq ft vs INR7,498 y/y
Tata Steel (TATA): Says aiming for 55m tons capacity globally by 2030: Investor presentation
Titan Co (TTAN): Says 1Q FY22 revenue grew by about 117% y/y; more than 90% of its jewelery stores open now; expansion plan delayed on lockdowns
India June Gross GST Rev. Collection 928.5b Rupees, Up 2% Y/y
Chip Crisis Deepens With Daimler, Jaguar Warning of Lost Sales
Tata Motors shares sink on lower wholesale volumes
Indian Bonds Slide as RBI’s Choice of Purchase Papers Disappoint
Yield on the benchmark 10-yr bond rises nine basis points
Telus International Buys India’s Playment to Expand AI Solutions
India Cumulative Monsoon Rainfall 2% Below Normal as of July 6
World Coffee Exports Fell 10.1% Y/y in May: ICO
Money Rolls Into Emerging Market ETFs for 35th Consecutive Week
Global Funds Sell Net INR5.43B of India Stocks on Tuesday: NSE
Domestic funds buy net 5.21b rupees of stocks
Foreign Investors Buy Net INR4.39B of Indian Equities on July 5
Foreigners Buy Net INR32.7B of Indian Equity Derivatives Tuesday
Ministerial probables arrive in Delhi amid Cabinetreshuffle buzz: PTI
MHA calls meet of NE states on Jul. 7 to discuss COVID-19 situation: PTI
India’s hiring rate recovered moderately from 10% in Apr to 35% in May 2021: PTI
Kotak Mahindra Bank (KMB): Says Kotak Securities to buy 9.96% stake in Kredent Infoedge for 100m rupees
Mahindra & Mahindra (MM): To acquire up to 31.2% in Indian Solar Power Generator
NMDC (NMDC): Says Chhattisgarh issue LoI to Bailadila mine for grant of mining lease
Sobha (SOBHA): 1Q total new sales 895,539 sq. ft vs 650,400 sq. ft y/y; average price realization INR7,626/sq ft vs INR7,498 y/y
Tata Steel (TATA): Says aiming for 55m tons capacity globally by 2030: Investor presentation
Titan Co (TTAN): Says 1Q FY22 revenue grew by about 117% y/y; more than 90% of its jewelery stores open now; expansion plan delayed on lockdowns
*SGX Nifty -55 pts (15777) from last trade 15832 ,*
Nikkei -245 pts ,
Hangseng -295 pts ,
Now @6.52am .
Dow -208.98 pts ,Nsdq +24.32 pts, S&P
-8.80 pts, Bovespa -1825 pts , Ftse -64 pts , Dax -150 pts , Cac -60 pts , Crude @ $73.57 brl (+0.21), Brent @ $74.53 brl (-0.00) , Gold @ 1796.40 (+2.20), Silver @ $26.22 (+0.04), Euro @ $1.182, JPY @ $110.58, INR @ 74.755
*Today's Corporate Action*
*7th Jul Ex Date*
CHEMBOND
Final Dividend - Rs. - 2.2500
KALPATPOWR
Final Dividend - Rs. - 1.5000
LKPSEC
Final Dividend - Rs. - 0.2000
MAYURUNIQ
Dividend - Rs. - 2.0000
ONWARDTEC
Final Dividend - Rs. - 3.0000
SOLIMAC
Dividend - Rs. - 1.0000
STL
Interim Dividend - Rs. - 1.0000
ULTRAMAR
Dividend - Rs. - 5.0000
*Today's Key Results/Board Meetings*
*7-Jul-21*
ACEWIN
Audited Results
ARTEMISELC
Audited Results
AUROCOK
Audited Results
CHENFERRO
Audited Results
EASUN
General
GIANLIFE
Audited Results
GLEAM
Audited Results
GVFILM
Audited Results;Quarterly Results
INNOVATIVE
Audited Results
MITSHI
Quarterly Results
NEWINFRA
Audited Results
OKPLA
Audited Results
PROFINC
Issue Of Warrants
REDINGTON
Bonus issue
REMLIFE
Quarterly Results
SETCO
Audited Results;Quarterly Results
SHARMEH
Quarterly Results
SPACEAGE
General
UNIIN
Audited Results
UNIWSEC
Audited Results
VARIMAN
General
*Stock under F&O ban on NSE*
*7-Jul-21*
1IBULHSGFIN
2NATIONALUM
3NMDC
4PNB
Nikkei -245 pts ,
Hangseng -295 pts ,
Now @6.52am .
Dow -208.98 pts ,Nsdq +24.32 pts, S&P
-8.80 pts, Bovespa -1825 pts , Ftse -64 pts , Dax -150 pts , Cac -60 pts , Crude @ $73.57 brl (+0.21), Brent @ $74.53 brl (-0.00) , Gold @ 1796.40 (+2.20), Silver @ $26.22 (+0.04), Euro @ $1.182, JPY @ $110.58, INR @ 74.755
*Today's Corporate Action*
*7th Jul Ex Date*
CHEMBOND
Final Dividend - Rs. - 2.2500
KALPATPOWR
Final Dividend - Rs. - 1.5000
LKPSEC
Final Dividend - Rs. - 0.2000
MAYURUNIQ
Dividend - Rs. - 2.0000
ONWARDTEC
Final Dividend - Rs. - 3.0000
SOLIMAC
Dividend - Rs. - 1.0000
STL
Interim Dividend - Rs. - 1.0000
ULTRAMAR
Dividend - Rs. - 5.0000
*Today's Key Results/Board Meetings*
*7-Jul-21*
ACEWIN
Audited Results
ARTEMISELC
Audited Results
AUROCOK
Audited Results
CHENFERRO
Audited Results
EASUN
General
GIANLIFE
Audited Results
GLEAM
Audited Results
GVFILM
Audited Results;Quarterly Results
INNOVATIVE
Audited Results
MITSHI
Quarterly Results
NEWINFRA
Audited Results
OKPLA
Audited Results
PROFINC
Issue Of Warrants
REDINGTON
Bonus issue
REMLIFE
Quarterly Results
SETCO
Audited Results;Quarterly Results
SHARMEH
Quarterly Results
SPACEAGE
General
UNIIN
Audited Results
UNIWSEC
Audited Results
VARIMAN
General
*Stock under F&O ban on NSE*
*7-Jul-21*
1IBULHSGFIN
2NATIONALUM
3NMDC
4PNB
🇮🇳*Business News Headlines*🇮🇳
*Economic Times*
Ø Kotak Mahindra Bank subsidiary to acquire 10% stake in KIPL
Ø SBI to auction two NPA accounts to recover dues of over Rs 313 cr
Ø Paytm rejigs board ahead of its $2.2 billion IPO
Ø IIFL Home Finance to raise up to Rs 1,000 crore via bonds
Ø Coforge board approves proposal to raise Rs 375 cr
Ø Govt eyes over Rs 3,600 cr by divesting 7% in NMDC
Ø SAT to hear matter on PNB Housing-Carlyle deal next week
Ø Clean Science and Technology raises Rs 464 cr from anchor investors
Ø Info Edge to acquire Axilly Labs for Rs 21 crore
Ø DHFL resolution: NCLAT issues notices to lenders, Piramal on 63 Moons Tech's plea
Ø Kalyani Steel running at 100% capacity, may need new plant to cater to rising demand: RK Goyal, MD
*Business Standard*
Ø Double-digit volumes to drive Q1 growth for Godrej Consumer, Marico
Ø NSE clarifies on Nifty Futures 'freak trade', seeks explanation from broker
Ø JLR warns of lower Q2 volumes, downgrades outlook due to chip shortage
Ø Private banks' loan books shrink in Q1 amid second wave of Covid-19
Ø Mutual fund AUM grows 3.3% sequentially in June qtr, smaller AMCs see churn
Ø Inflation could impact liquidity flowing into equities: IIFL Wealth Jt CEO
Ø Sumitomo Mitsui Financial Group to acquire 74.9% stake in FICC for $2 bn
Ø GST collections fall below Rs 1-trn mark after eight months in June
Ø Bajaj Finance books fewer new loans in June quarter over March
Ø Paytm to file draft prospectus next week for $2.3-bn IPO: Report
*Financial Express*
Ø Unemployment rate falls to 7.3% as India unlocks
Ø Adani Total Gas, SAIL, NMDC reclassified as largecaps by AMFI
Ø Info Edge reduces OFS size in Zomato IPO by half
Ø Increasing imports of tea a matter of great concern
Ø NTPC Renewable Energy Ltd IPO to hit markets in 2022-23
Ø Repco Home Finance Rating ‘Buy’; Q4 earnings were above estimates
Ø Adani Ports & SEZ Rating ‘Buy’; Firm largely insulated from Group entities
Ø Sebi cuts time period for filing application to obtain NOC for release of 1 pc of issue amount
Ø GST revenue slips below Rs 1 lakh cr mark in June, at Rs 92,849 crore
Ø Sumitomo Group to snap up Fullerton Credit in $2.5 bn deal
*Mint*
Ø Sanofi seeks nod to conduct phase 3 trial of its jab in India
Ø Oil slides from multi-year highs after OPEC cancels meeting
Ø Bajaj Finance gives relief on growth, but asset quality must justify valuations
Ø Paytm reshuffles board before floating mega IPO
Ø Metal, PSU stocks top upgrades in Amfi m-cap review
Ø Investment advisors cannot take power of attorney from clients: Sebi
Ø Wipro commits ₹1k crore more for COVID-19
Ø Housing sales down 76% in 8 cities from April-June: PropTiger
Ø NMDC OFS over-subscribed 2.13 times on Day 1
Ø Tata Power ties up with California-based AutoGrid for AI based energy management
Ø Sebi defines 'same line of business' under delisting rules
*Economic Times*
Ø Kotak Mahindra Bank subsidiary to acquire 10% stake in KIPL
Ø SBI to auction two NPA accounts to recover dues of over Rs 313 cr
Ø Paytm rejigs board ahead of its $2.2 billion IPO
Ø IIFL Home Finance to raise up to Rs 1,000 crore via bonds
Ø Coforge board approves proposal to raise Rs 375 cr
Ø Govt eyes over Rs 3,600 cr by divesting 7% in NMDC
Ø SAT to hear matter on PNB Housing-Carlyle deal next week
Ø Clean Science and Technology raises Rs 464 cr from anchor investors
Ø Info Edge to acquire Axilly Labs for Rs 21 crore
Ø DHFL resolution: NCLAT issues notices to lenders, Piramal on 63 Moons Tech's plea
Ø Kalyani Steel running at 100% capacity, may need new plant to cater to rising demand: RK Goyal, MD
*Business Standard*
Ø Double-digit volumes to drive Q1 growth for Godrej Consumer, Marico
Ø NSE clarifies on Nifty Futures 'freak trade', seeks explanation from broker
Ø JLR warns of lower Q2 volumes, downgrades outlook due to chip shortage
Ø Private banks' loan books shrink in Q1 amid second wave of Covid-19
Ø Mutual fund AUM grows 3.3% sequentially in June qtr, smaller AMCs see churn
Ø Inflation could impact liquidity flowing into equities: IIFL Wealth Jt CEO
Ø Sumitomo Mitsui Financial Group to acquire 74.9% stake in FICC for $2 bn
Ø GST collections fall below Rs 1-trn mark after eight months in June
Ø Bajaj Finance books fewer new loans in June quarter over March
Ø Paytm to file draft prospectus next week for $2.3-bn IPO: Report
*Financial Express*
Ø Unemployment rate falls to 7.3% as India unlocks
Ø Adani Total Gas, SAIL, NMDC reclassified as largecaps by AMFI
Ø Info Edge reduces OFS size in Zomato IPO by half
Ø Increasing imports of tea a matter of great concern
Ø NTPC Renewable Energy Ltd IPO to hit markets in 2022-23
Ø Repco Home Finance Rating ‘Buy’; Q4 earnings were above estimates
Ø Adani Ports & SEZ Rating ‘Buy’; Firm largely insulated from Group entities
Ø Sebi cuts time period for filing application to obtain NOC for release of 1 pc of issue amount
Ø GST revenue slips below Rs 1 lakh cr mark in June, at Rs 92,849 crore
Ø Sumitomo Group to snap up Fullerton Credit in $2.5 bn deal
*Mint*
Ø Sanofi seeks nod to conduct phase 3 trial of its jab in India
Ø Oil slides from multi-year highs after OPEC cancels meeting
Ø Bajaj Finance gives relief on growth, but asset quality must justify valuations
Ø Paytm reshuffles board before floating mega IPO
Ø Metal, PSU stocks top upgrades in Amfi m-cap review
Ø Investment advisors cannot take power of attorney from clients: Sebi
Ø Wipro commits ₹1k crore more for COVID-19
Ø Housing sales down 76% in 8 cities from April-June: PropTiger
Ø NMDC OFS over-subscribed 2.13 times on Day 1
Ø Tata Power ties up with California-based AutoGrid for AI based energy management
Ø Sebi defines 'same line of business' under delisting rules
GM jsk stock in news Shobha,tatastl,jspl,tcs,Glenmark, morepenlab,Hindalco,titan,tbz,kalyan,thangamaya,greaves,MNM,ncl,moschip,infoedge,redigton. Negative stocks rblbk,tatamot. Nifty range 15675-15880.
Tata Motors pegs $2.9 billion cash burn at JLR in H1, as chip shortages bite - https://www.livemint.com/market/mark-to-market/tata-motors-pegs-2-9-billion-cash-burn-at-jlr-in-h1-as-chip-shortages-bite-11625572329678.html
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Tata Motors pegs $2.9 billion cash burn at JLR as chip shortages bite
The pandemic has caused a global shortage of semiconductor chips amid rising demand for electronic goods
*Stocks in News*
*3i Infotech:* Srei Multiple Asset Investment Trust sold 2.31% stake in the company via open market transaction, reducing total shareholding to 11.32% from 13.63%.
*Mastek:* Hiral Chandrana has been appointed as the Global Chief Executive Officer of Mastek Group. Chandrana will be operating out of USA.
*Titan Company:* The company recorded revenue growth of around 117% (excluding bullion sales) in Q1FY22, with revenue contribution of approximately 50%, 10% and 40% coming from April, May and June months respectively. Jewellery division in Q1FY22 grew by around 107% (excluding bullion sales), compared to last year, primarily due to zero sales in April of last year. Watches and wearables division grew by around 280% over Q1FY21. Eye Wear division grew by around 117% over Q1FY21.
*Gillette India:* The company appointed Gautam Kamath as Chief Financial Officer and Additional (Executive) Director effective August 1.
*Sobha:*
The company achieved total sales volume of 8,95,539 square feet of super built-up area valued at Rs 682.9 crore in Q1FY22 against 6,50,400 square feet of super built-up area valued at Rs 487.7 crore sold in Q1FY21.
*RBL Bank:* The bank's total deposits grew by 21% YoY to 74,480 crore and gross advances increased by 2 percent to Rs 58,755 crore in June 2021 quarter
*3i Infotech:* Srei Multiple Asset Investment Trust sold 2.31% stake in the company via open market transaction, reducing total shareholding to 11.32% from 13.63%.
*Mastek:* Hiral Chandrana has been appointed as the Global Chief Executive Officer of Mastek Group. Chandrana will be operating out of USA.
*Titan Company:* The company recorded revenue growth of around 117% (excluding bullion sales) in Q1FY22, with revenue contribution of approximately 50%, 10% and 40% coming from April, May and June months respectively. Jewellery division in Q1FY22 grew by around 107% (excluding bullion sales), compared to last year, primarily due to zero sales in April of last year. Watches and wearables division grew by around 280% over Q1FY21. Eye Wear division grew by around 117% over Q1FY21.
*Gillette India:* The company appointed Gautam Kamath as Chief Financial Officer and Additional (Executive) Director effective August 1.
*Sobha:*
The company achieved total sales volume of 8,95,539 square feet of super built-up area valued at Rs 682.9 crore in Q1FY22 against 6,50,400 square feet of super built-up area valued at Rs 487.7 crore sold in Q1FY21.
*RBL Bank:* The bank's total deposits grew by 21% YoY to 74,480 crore and gross advances increased by 2 percent to Rs 58,755 crore in June 2021 quarter
Power demand soars to all-time high of 197.06 GW on Tuesday https://t.co/ZwzIZCQoao via @economictimes
The Economic Times
Power demand soars to all-time high of 197.06 GW on Tuesday
Experts opined that high temperatures in many states due to delayed monsoon and easing of restrictions that were in place to curb coronavirus infections have led to a surge in power demand.
*Global-Market Insight*
-The S&P 500 fell after 7 straight gains, Crude oil falls to $75
-Mostly banks and energy shares pulled the market down
-Amazon helped Nasdaq to reach a fresh high
-US 10-year yield dropped to 1.36% from 1.44% at the Feb level
-US services PMI little lower month on month
-Gold gains momentum again
-US FED minutes to drive the market today
-Asian futures in red
-The S&P 500 fell after 7 straight gains, Crude oil falls to $75
-Mostly banks and energy shares pulled the market down
-Amazon helped Nasdaq to reach a fresh high
-US 10-year yield dropped to 1.36% from 1.44% at the Feb level
-US services PMI little lower month on month
-Gold gains momentum again
-US FED minutes to drive the market today
-Asian futures in red
*MS on Titan*
Equal weight
Target Rs 1358
--
*CLSA on Titan*
Sell Call
Target Rs 1370
*Nomura on Tata Motors*
Neutral
Target Rs 353
--·
*MS on Tata Motors*
Equal Weight
Target Rs 300
Equal weight
Target Rs 1358
--
*CLSA on Titan*
Sell Call
Target Rs 1370
*Nomura on Tata Motors*
Neutral
Target Rs 353
--·
*MS on Tata Motors*
Equal Weight
Target Rs 300