*Breaking News:*
*Piyush Goyal Appointed As Leader Of Rajya Sabha*
Expect path breaking reform bills to be tabled in both LS and RS as BJP inches closer to majority in Rajya Sabha !
*Positive news for markets.*
*Piyush Goyal Appointed As Leader Of Rajya Sabha*
Expect path breaking reform bills to be tabled in both LS and RS as BJP inches closer to majority in Rajya Sabha !
*Positive news for markets.*
Despite decline in crude oil inventories prices fell due to Bipartisan group of senators in the U.S. introduced bill aim to increase ethanol blending.
News in negative for crude oil but positive for Sugar Sector.
Lower crude oil prices are also positive for rupee and domestic equities.
News in negative for crude oil but positive for Sugar Sector.
Lower crude oil prices are also positive for rupee and domestic equities.
*Good Morning*
India Increases Inflation-Linked Allowance for Govt Employees
Approves plan to give subsidy to Indian shipping companies
India Offers to Work Closely With Oil Producers to Calm Market
Infosys Earnings Trail Estimates as Labor Costs Hurt Margins
Co raises revenue growth guidance for the year to 14%-16%
Mastercard Third U.S. Firm Punished for Flouting India Data Rule
Barred from adding new customers in India from July 22
ICICI Prudential Fund Raises Record $1.3 Billion in New Offer
Billionaire Adani to Control Mumbai Airport in Rebound Bet
India Top Court Upholds Regulator’s Powers in Franklin Case
India’s Sugar Output Seen Steady at 31M Tons in 2021-22: ISMA
India Cumulative Monsoon Rainfall 5% Below Normal as of July 14
BRICS Q3 CPI Forecast Steady in Past Week; India Up to 5.5%
Global Funds Sell Net INR13B of India Stocks on Wednesday: NSE
Domestic funds Buy net 13.4b rupees of stocks
Foreign Investors Buy Net INR699.1M of India Equities on July 13
Foreigners Buy Net INR2.01B Indian Equity Derivatives Wednesday
India’s Sensex Index Rises to Near Record, Led Higher by Infosys
India Foreign Minister Jaishankar Holds bilateral meeting with Chinese Counterpart: PTI
Piyush Goyal appointed Leader of House in upper house of parliament: PTI
5pm: India June trade balance, est. -$9.4b, prior -$6.28b
India June Exports YoY, no est., prior 69.3%
India June Imports YoY, no est., prior 73.6%
Adani Ports (ADSEZ): Says forms a unit Adani Gangavaram Port
Amara Raja Batteries (AMRJ): Says court extends interim suspension of closer order of Andhra Pollution Control
Axis Bank (AXSB): Says information in Madanlal Dhariya’s tweet factually incorrect; Tweet posted to damage the reputation of bank
Dilip Buildcon (DBL): Reports accident at Andhra Pradesh project site; says casualties, injuries reported
Infosys (INFO): 1Q net income +23% y/y to 52b rupees, misses est. 53.78b; revenue +18% y/y to 279b
JSW Energy (JSW): Plans to spend $10 billion on clean power by 2030
L&T Technology (LTTS): 1Q net income +85% y/y to 2.16b rupees, beats est. 1.98b; revenue +18% y/y to 15.2b
Lupin (LPC): Vertex Sues Lupin to Block Copies of Cystic Fibrosis Drug
Marico (MRCO): To make strategic investment in Apcos Naturals, to take a 60% stake
Sterlite Technologies (SOTL): To consider raising funds via shares, securities on July 22
India Increases Inflation-Linked Allowance for Govt Employees
Approves plan to give subsidy to Indian shipping companies
India Offers to Work Closely With Oil Producers to Calm Market
Infosys Earnings Trail Estimates as Labor Costs Hurt Margins
Co raises revenue growth guidance for the year to 14%-16%
Mastercard Third U.S. Firm Punished for Flouting India Data Rule
Barred from adding new customers in India from July 22
ICICI Prudential Fund Raises Record $1.3 Billion in New Offer
Billionaire Adani to Control Mumbai Airport in Rebound Bet
India Top Court Upholds Regulator’s Powers in Franklin Case
India’s Sugar Output Seen Steady at 31M Tons in 2021-22: ISMA
India Cumulative Monsoon Rainfall 5% Below Normal as of July 14
BRICS Q3 CPI Forecast Steady in Past Week; India Up to 5.5%
Global Funds Sell Net INR13B of India Stocks on Wednesday: NSE
Domestic funds Buy net 13.4b rupees of stocks
Foreign Investors Buy Net INR699.1M of India Equities on July 13
Foreigners Buy Net INR2.01B Indian Equity Derivatives Wednesday
India’s Sensex Index Rises to Near Record, Led Higher by Infosys
India Foreign Minister Jaishankar Holds bilateral meeting with Chinese Counterpart: PTI
Piyush Goyal appointed Leader of House in upper house of parliament: PTI
5pm: India June trade balance, est. -$9.4b, prior -$6.28b
India June Exports YoY, no est., prior 69.3%
India June Imports YoY, no est., prior 73.6%
Adani Ports (ADSEZ): Says forms a unit Adani Gangavaram Port
Amara Raja Batteries (AMRJ): Says court extends interim suspension of closer order of Andhra Pollution Control
Axis Bank (AXSB): Says information in Madanlal Dhariya’s tweet factually incorrect; Tweet posted to damage the reputation of bank
Dilip Buildcon (DBL): Reports accident at Andhra Pradesh project site; says casualties, injuries reported
Infosys (INFO): 1Q net income +23% y/y to 52b rupees, misses est. 53.78b; revenue +18% y/y to 279b
JSW Energy (JSW): Plans to spend $10 billion on clean power by 2030
L&T Technology (LTTS): 1Q net income +85% y/y to 2.16b rupees, beats est. 1.98b; revenue +18% y/y to 15.2b
Lupin (LPC): Vertex Sues Lupin to Block Copies of Cystic Fibrosis Drug
Marico (MRCO): To make strategic investment in Apcos Naturals, to take a 60% stake
Sterlite Technologies (SOTL): To consider raising funds via shares, securities on July 22
Initiating Coverage (Nirmal Bang IE)
Jamna Auto Industries
BUY
CMP: Rs87
Target Price: Rs106
Upside: 22%
Play on multi-year CV cycle; further re-rating potential
We initiate coverage on Jamna Auto Industries (JAI) with a Buy rating and a target price (TP) of Rs106. We have assigned 22x FY23E EPS, as we expect it to report a strong 49% earnings CAGR over FY21-FY24E, driven by: (1) A multi-year upcycle in the domestic Commercial Vehicles (CV) industry, which will directly benefit JAI due to its leadership position in the OEM market (2) Rising share of value-added products due to a structural shift from conventional springs to parabolic springs amid continued modernization (3) Opportunity to increase content per vehicle on the back of new launches (4) Focused efforts to increase the share of the replacement market to further diversify its sales mix. JAI, the largest leaf spring manufacturer in India, is an ideal play on the ongoing upturn in the CV cycle given its ~68% domestic OEM market share. Higher operating leverage going forward (as the utilization level accelerates) and an improved product mix (driven by value-added products & aftermarket revenues) will result in ~290bps margin expansion, driving a strong earnings growth over FY21-24E. We expect limited capex and strong FCF generation over the next 2-3 years. JAI has turned net debt free in FY21. Strong margin expansion and higher asset turns will be the key drivers of improvement in RoE/RoCE, which we expect to reach 31%/40% by FY24E. We assign Buy rating on JAI with a TP of Rs106 (22x FY23E EPS), with an upside of 22% from CMP.
Jamna Auto Industries
BUY
CMP: Rs87
Target Price: Rs106
Upside: 22%
Play on multi-year CV cycle; further re-rating potential
We initiate coverage on Jamna Auto Industries (JAI) with a Buy rating and a target price (TP) of Rs106. We have assigned 22x FY23E EPS, as we expect it to report a strong 49% earnings CAGR over FY21-FY24E, driven by: (1) A multi-year upcycle in the domestic Commercial Vehicles (CV) industry, which will directly benefit JAI due to its leadership position in the OEM market (2) Rising share of value-added products due to a structural shift from conventional springs to parabolic springs amid continued modernization (3) Opportunity to increase content per vehicle on the back of new launches (4) Focused efforts to increase the share of the replacement market to further diversify its sales mix. JAI, the largest leaf spring manufacturer in India, is an ideal play on the ongoing upturn in the CV cycle given its ~68% domestic OEM market share. Higher operating leverage going forward (as the utilization level accelerates) and an improved product mix (driven by value-added products & aftermarket revenues) will result in ~290bps margin expansion, driving a strong earnings growth over FY21-24E. We expect limited capex and strong FCF generation over the next 2-3 years. JAI has turned net debt free in FY21. Strong margin expansion and higher asset turns will be the key drivers of improvement in RoE/RoCE, which we expect to reach 31%/40% by FY24E. We assign Buy rating on JAI with a TP of Rs106 (22x FY23E EPS), with an upside of 22% from CMP.
GM jsk stock in news dodladairy,Marico,sequent,tinplate,lnttech,adanientp,caplin,cyient,sci,BEML,Westlife,arvind,sutlez,welspunndia,trident,gokuldas,NMDC,hdfcltd,lntfin,hdfcbk. Negative stocks craftsman. Nifty range 15725-15925.
#PlasticBan: Industry to take a hit of Rs 150 bn; 300,000 to lose jobs (link: https://mybs.in/2VnjBD9) mybs.in/2VnjBD9
Business-Standard
Plastic ban: Industry to take a hit of Rs 150 bn; 300,000 to lose jobs
Industry insiders have said the job losses from the ban will impact Maha's GDP, and also increase banks' bad loans from the plastic sector
Results Today: Angel Broking, Cyient, LTI, Tata Elxsi, Tata Steel LLP, Wipro
Infosys ADR ends up 1.6% vs normal share close of 2.1% yesterday
Revenue growth strong while margins and deal wins disappoint
Most brokerages cut EPS estimates marginally for Infosys
LTTS: Strong performance with all round beat and improved outlook
NB initiates coverage on Jamna Auto with 106 target
BOB Caital Markets: Initiate buy on Affle, India Mart and Sell on JD
Deals in media: RIL - JD, Barings - Hinduja Global
In Ban: Granules, Ibulls Housing, Idea, Nalco, NMDC, PNB, SAIL, Sun TV
PREVIEWS
L&T Infotech expected to report results on July 15. FIRST QUARTER
Net income estimate 4.82 billion rupees (range 4.50 billion rupees to 5.20 billion rupees) (Bloomberg Consensus)
Revenue estimate 34.33 billion rupees (range 34.03 billion rupees to 34.90 billion rupees)
Ebitda estimate 6.56 billion rupees (range 6.35 billion rupees to 6.79 billion rupees)
Cyient expected to report results on July 15. FIRST QUARTER
Net income estimate 1.08 billion rupees (range 1.02 billion rupees to 1.18 billion rupees) (Bloomberg Consensus)
Revenue estimate 10.62 billion rupees (range 10.51 billion rupees to 10.79 billion rupees)
Ebitda estimate 1.86 billion rupees (range 1.72 billion rupees to 2.26 billion rupees)
Wipro expected to report results on July 15. FIRST QUARTER
Net income estimate 28.28 billion rupees (range 26 billion rupees to 30.76 billion rupees) (Bloomberg Consensus)
Revenue estimate 176.30 billion rupees (range 168.08 billion rupees to 180.79 billion rupees)
Ebitda estimate 40.82 billion rupees (range 39.39 billion rupees to 42.28 billion rupees)
Infosys ADR ends up 1.6% vs normal share close of 2.1% yesterday
Revenue growth strong while margins and deal wins disappoint
Most brokerages cut EPS estimates marginally for Infosys
LTTS: Strong performance with all round beat and improved outlook
NB initiates coverage on Jamna Auto with 106 target
BOB Caital Markets: Initiate buy on Affle, India Mart and Sell on JD
Deals in media: RIL - JD, Barings - Hinduja Global
In Ban: Granules, Ibulls Housing, Idea, Nalco, NMDC, PNB, SAIL, Sun TV
PREVIEWS
L&T Infotech expected to report results on July 15. FIRST QUARTER
Net income estimate 4.82 billion rupees (range 4.50 billion rupees to 5.20 billion rupees) (Bloomberg Consensus)
Revenue estimate 34.33 billion rupees (range 34.03 billion rupees to 34.90 billion rupees)
Ebitda estimate 6.56 billion rupees (range 6.35 billion rupees to 6.79 billion rupees)
Cyient expected to report results on July 15. FIRST QUARTER
Net income estimate 1.08 billion rupees (range 1.02 billion rupees to 1.18 billion rupees) (Bloomberg Consensus)
Revenue estimate 10.62 billion rupees (range 10.51 billion rupees to 10.79 billion rupees)
Ebitda estimate 1.86 billion rupees (range 1.72 billion rupees to 2.26 billion rupees)
Wipro expected to report results on July 15. FIRST QUARTER
Net income estimate 28.28 billion rupees (range 26 billion rupees to 30.76 billion rupees) (Bloomberg Consensus)
Revenue estimate 176.30 billion rupees (range 168.08 billion rupees to 180.79 billion rupees)
Ebitda estimate 40.82 billion rupees (range 39.39 billion rupees to 42.28 billion rupees)
*SGX Nifty -13 pts (15845) from last trade 15858 ,*
Nikkei -240 pts ,
Hangseng +14 pts ,
Now @6.56am .
Dow +44.44 pts ,Nsdq -32.70 pts, S&P
+5.79 pts, Bovespa +238 pts , Ftse -33 pts , Dax -0.66 pts , Cac -0.09 pts , Crude @ $72.82 brl (-0.31), Brent @ $74.76 brl (-0.00) , Gold @ 1827.10 (+2.10), Silver @ $26.30 (+0.02), Euro @ $1.1835, JPY @ $110.00, INR @ 74.465
*Today's Corporate Action*
*15th Jul Ex Date*
APOLLOTYRE
Final Dividend - Rs. - 3.5000
ATUL
Dividend - Rs. - 20.0000
BHARATFORG
Final Dividend - Rs. - 2.0000
BIMETAL
Dividend - Rs. - 8.0000
BSOFT
Final Dividend - Rs. - 2.5000
CHEVIOT
Special Dividend - Rs. - 175.0000
COROMANDEL
Final Dividend - Rs. - 6.0000
DHANUKA
Dividend - Rs. - 2.0000
ESCORTS
Final Dividend - Rs. - 5.0000
ESCORTS
Special Dividend - Rs. - 2.5000
IGPL
Final Dividend - Rs. - 7.5000
INFRATRUST
Income Distribution (InvIT)
KIRLFER
Final Dividend - Rs. - 3.0000
M&M
Dividend - Rs. - 8.7500
NEWGEN
Dividend - Rs. - 3.5000
NUCLEUS
Final Dividend - Rs. - 6.0000
PRAVEG
Final Dividend - Rs. - 2.0000
ROUTE
Final Dividend - Rs. - 2.0000
SASKEN
Final Dividend - Rs. - 15.0000
SMCGLOBAL
Final Dividend - Rs. - 0.8000
SURYAAMBA
Final Dividend - Rs. - 0.4000
TASTYBIT
Final Dividend - Rs. - 2.0000
TCS
Interim Dividend - Rs. - 7.0000
*Today's Key Results/Board Meetings*
*15-Jul-21*
ADHBHUTIN
Audited Results
ANGELBRKG
Interim Dividend;Quarterly Results
AVANTEL
Quarterly Results
BIRLAMONEY
Quarterly Results
CYIENT
Quarterly Results
GANESHHOUC
Quarterly Results
GEL
A.G.M.;General
HATHWAYB
Quarterly Results
ITHL
Quarterly Results
LORDSCHLO
Quarterly Results
LTI
Interim Dividend;Quarterly Results
MAHALXSE
A.G.M.;General
MANGTIMBER
Quarterly Results
NEWINFRA
Audited Results
OKPLA
Audited Results
ONWARDTEC
Quarterly Results
RAMAPPR-B
Audited Results
RASSIREF
Audited Results
ROLLT
Audited Results;Quarterly Results
SIPL
A.G.M.;General
STYLAMIND
Quarterly Results
TATAELXSI
Audited Results;Quarterly Results
TATASTLLP
Audited Results;Quarterly Results
WIPRO
Quarterly Results
*Stock under F&O ban on NSE*
*15-Jul-21*
1GRANULES
2IBULHSGFIN
3IDEA
4NATIONALUM
5NMDC
6PNB
7SAIL
8SUNTV
Nikkei -240 pts ,
Hangseng +14 pts ,
Now @6.56am .
Dow +44.44 pts ,Nsdq -32.70 pts, S&P
+5.79 pts, Bovespa +238 pts , Ftse -33 pts , Dax -0.66 pts , Cac -0.09 pts , Crude @ $72.82 brl (-0.31), Brent @ $74.76 brl (-0.00) , Gold @ 1827.10 (+2.10), Silver @ $26.30 (+0.02), Euro @ $1.1835, JPY @ $110.00, INR @ 74.465
*Today's Corporate Action*
*15th Jul Ex Date*
APOLLOTYRE
Final Dividend - Rs. - 3.5000
ATUL
Dividend - Rs. - 20.0000
BHARATFORG
Final Dividend - Rs. - 2.0000
BIMETAL
Dividend - Rs. - 8.0000
BSOFT
Final Dividend - Rs. - 2.5000
CHEVIOT
Special Dividend - Rs. - 175.0000
COROMANDEL
Final Dividend - Rs. - 6.0000
DHANUKA
Dividend - Rs. - 2.0000
ESCORTS
Final Dividend - Rs. - 5.0000
ESCORTS
Special Dividend - Rs. - 2.5000
IGPL
Final Dividend - Rs. - 7.5000
INFRATRUST
Income Distribution (InvIT)
KIRLFER
Final Dividend - Rs. - 3.0000
M&M
Dividend - Rs. - 8.7500
NEWGEN
Dividend - Rs. - 3.5000
NUCLEUS
Final Dividend - Rs. - 6.0000
PRAVEG
Final Dividend - Rs. - 2.0000
ROUTE
Final Dividend - Rs. - 2.0000
SASKEN
Final Dividend - Rs. - 15.0000
SMCGLOBAL
Final Dividend - Rs. - 0.8000
SURYAAMBA
Final Dividend - Rs. - 0.4000
TASTYBIT
Final Dividend - Rs. - 2.0000
TCS
Interim Dividend - Rs. - 7.0000
*Today's Key Results/Board Meetings*
*15-Jul-21*
ADHBHUTIN
Audited Results
ANGELBRKG
Interim Dividend;Quarterly Results
AVANTEL
Quarterly Results
BIRLAMONEY
Quarterly Results
CYIENT
Quarterly Results
GANESHHOUC
Quarterly Results
GEL
A.G.M.;General
HATHWAYB
Quarterly Results
ITHL
Quarterly Results
LORDSCHLO
Quarterly Results
LTI
Interim Dividend;Quarterly Results
MAHALXSE
A.G.M.;General
MANGTIMBER
Quarterly Results
NEWINFRA
Audited Results
OKPLA
Audited Results
ONWARDTEC
Quarterly Results
RAMAPPR-B
Audited Results
RASSIREF
Audited Results
ROLLT
Audited Results;Quarterly Results
SIPL
A.G.M.;General
STYLAMIND
Quarterly Results
TATAELXSI
Audited Results;Quarterly Results
TATASTLLP
Audited Results;Quarterly Results
WIPRO
Quarterly Results
*Stock under F&O ban on NSE*
*15-Jul-21*
1GRANULES
2IBULHSGFIN
3IDEA
4NATIONALUM
5NMDC
6PNB
7SAIL
8SUNTV
Who’s Meeting Whom
Somany Home Innovation: To meet MK Ventures on July 15.
Deepak Fertilisers and Petrochemicals Corp: To meet Nippon India Mutual Fund and Fidelity International Investment Management on July 15.
Somany Home Innovation: To meet MK Ventures on July 15.
Deepak Fertilisers and Petrochemicals Corp: To meet Nippon India Mutual Fund and Fidelity International Investment Management on July 15.
*Business News Headlines* 🇮🇳
*Economic Times*
Ø Adani Group ropes in former Vedanta exec Satish Kumar for copper business
Ø Maruti plans to invest up to Rs 18,000 crore for 10 lakh unit plant
Ø Bank of Maharashtra fixes floor price at Rs 24.89 per share for Rs 2,000 cr QIP
Ø Market capitalisation of BSE-listed firms touches record high; crosses Rs 233 lakh crore
Ø Sustained deal momentum, revised guidance hint at stronger FY22 show by Infosys
Ø Zomato IPO sails through on day 1, retail investors quota subscribed 2.65 times
Ø Market Movers: High margin plan lifts ITC as Zomato hype drives Info Edge
Ø ITC’s CMD Sanjiv Puri sees 47% jump in pay in pandemic year
Ø IPO financing market flush as NBFCs raise record Rs 1.2 lakh crore
Ø Mindtree's margin story remains intact: CEO
Ø Oil prices drop after Saudi-UAE reach output compromise
*Business Standard*
Ø Banks may encounter legal hurdles in invoking personal guarantees
Ø Zomato could get added to MSCI, FTSE indices by 2021-end: Analyst
Ø MFs go on a shopping spree in June as market hits new highs
Ø Tata Sons hires consultants for Air India due diligence
Ø Big banks expand share in corporate lending amid pandemic stress.
Ø ITC diversifies tobacco into nicotine and derivatives for US vaping market
Ø Rakesh Jhunjhunwala, wife settle Aptech insider trading case with Sebi
Ø Flex-fuel engines: Roadmap, benefits and challenges for Indian auto sector
Ø JSW Energy to seek shareholder approval to raise up to Rs 5,000 crore
Ø India's June WPI inflation eases to 12.07% despite rise in fuel prices
*Financial Express*
Ø Cabinet okays scheme to provide Rs 1,624 cr over 5 years as subsidy to Indian shipping companies
Ø CCEA clears realignment of Department of Animal Husbandry & Dairying schemes
Ø Modi Govt increases Dearness Allowance for Central Government Employees, DR for pensioners
Ø Indian EV industry welcomes incentives under new Maharashtra EV Policy 2021
Ø Rs 880 crore hidden money found: I-T department detects concealed income after survey on Quess Corp
Ø S&P retains India’s rating, says recovery to gain pace in H2
Ø 42% NBFCs expect over 15 pc growth in AUM in FY2022: Icra survey
Ø IL&FS expects to recover Rs 58,000 cr by March 2022
Ø Reliance Power gets shareholders' nod to issue of shares, warrants worth Rs 1,325 cr to RInfra
Ø Burger King India launches a campaign for its new Stunner Menu
*Mint*
Ø Puducherry hikes liquor prices by 20% from tomorrow
Ø Govt plans to introduce 17 bills in Monsoon session
Ø India's gems and jewellery exports spurt by 92.37% to ₹20,851 crore in June
Ø NMDC board approves demerger of NMDC Steel.
Ø Infosys beats TCS by a mile in Q1, but margin pressure rears its head
Ø RBI bars Mastercard from issuing new debit, credit cards in India from 22 July
Ø India IT spending expected to grow at 8% to $92.7 bn in 2021: Gartner report
Ø Power demand in India expected to grow 6% in FY22: Icra.
Ø Maharashtra government rolls out new EV policy.
Ø ITC to enter boutique lifestyle hotel segment with new brand Storii
Ø Indian aviation sector to touch 80% of pre-covid capacity in Q3: Morgan Stanley
*Economic Times*
Ø Adani Group ropes in former Vedanta exec Satish Kumar for copper business
Ø Maruti plans to invest up to Rs 18,000 crore for 10 lakh unit plant
Ø Bank of Maharashtra fixes floor price at Rs 24.89 per share for Rs 2,000 cr QIP
Ø Market capitalisation of BSE-listed firms touches record high; crosses Rs 233 lakh crore
Ø Sustained deal momentum, revised guidance hint at stronger FY22 show by Infosys
Ø Zomato IPO sails through on day 1, retail investors quota subscribed 2.65 times
Ø Market Movers: High margin plan lifts ITC as Zomato hype drives Info Edge
Ø ITC’s CMD Sanjiv Puri sees 47% jump in pay in pandemic year
Ø IPO financing market flush as NBFCs raise record Rs 1.2 lakh crore
Ø Mindtree's margin story remains intact: CEO
Ø Oil prices drop after Saudi-UAE reach output compromise
*Business Standard*
Ø Banks may encounter legal hurdles in invoking personal guarantees
Ø Zomato could get added to MSCI, FTSE indices by 2021-end: Analyst
Ø MFs go on a shopping spree in June as market hits new highs
Ø Tata Sons hires consultants for Air India due diligence
Ø Big banks expand share in corporate lending amid pandemic stress.
Ø ITC diversifies tobacco into nicotine and derivatives for US vaping market
Ø Rakesh Jhunjhunwala, wife settle Aptech insider trading case with Sebi
Ø Flex-fuel engines: Roadmap, benefits and challenges for Indian auto sector
Ø JSW Energy to seek shareholder approval to raise up to Rs 5,000 crore
Ø India's June WPI inflation eases to 12.07% despite rise in fuel prices
*Financial Express*
Ø Cabinet okays scheme to provide Rs 1,624 cr over 5 years as subsidy to Indian shipping companies
Ø CCEA clears realignment of Department of Animal Husbandry & Dairying schemes
Ø Modi Govt increases Dearness Allowance for Central Government Employees, DR for pensioners
Ø Indian EV industry welcomes incentives under new Maharashtra EV Policy 2021
Ø Rs 880 crore hidden money found: I-T department detects concealed income after survey on Quess Corp
Ø S&P retains India’s rating, says recovery to gain pace in H2
Ø 42% NBFCs expect over 15 pc growth in AUM in FY2022: Icra survey
Ø IL&FS expects to recover Rs 58,000 cr by March 2022
Ø Reliance Power gets shareholders' nod to issue of shares, warrants worth Rs 1,325 cr to RInfra
Ø Burger King India launches a campaign for its new Stunner Menu
*Mint*
Ø Puducherry hikes liquor prices by 20% from tomorrow
Ø Govt plans to introduce 17 bills in Monsoon session
Ø India's gems and jewellery exports spurt by 92.37% to ₹20,851 crore in June
Ø NMDC board approves demerger of NMDC Steel.
Ø Infosys beats TCS by a mile in Q1, but margin pressure rears its head
Ø RBI bars Mastercard from issuing new debit, credit cards in India from 22 July
Ø India IT spending expected to grow at 8% to $92.7 bn in 2021: Gartner report
Ø Power demand in India expected to grow 6% in FY22: Icra.
Ø Maharashtra government rolls out new EV policy.
Ø ITC to enter boutique lifestyle hotel segment with new brand Storii
Ø Indian aviation sector to touch 80% of pre-covid capacity in Q3: Morgan Stanley
AMCs who bought Zomato in the IPO
SBI, Axis, ABSL, Kotak, Nippon, Mirae, UTI, Motilal Oswal, Franklin, HDFC, ICICI, IIFL, IDF , Sundarum, Tata, Edelweiss, BNP, HSBC, Principal & Invesco
SBI, Axis, ABSL, Kotak, Nippon, Mirae, UTI, Motilal Oswal, Franklin, HDFC, ICICI, IIFL, IDF , Sundarum, Tata, Edelweiss, BNP, HSBC, Principal & Invesco