*SRF – Q4FY21 Concall – Nirmal Bang Sec.*
*Outlook – Positive in Long Term*
*Managment maintained growth guidance in Chemical Division to 15-20% Decline in margin in Chemical Division is short term*
The stock is trading at 34x FY22E consensus earnings
*_Specialty Chemical Business_*
_Chemicals_
• Rev grew by 58%
• Higher sales from exports and domestic markets
• The second wave of COVID-19 induced lockdowns resulted in disruption of supply chains, leading to an overall increase in raw material prices and export freight across geographies - *the management believes that increase in raw material prices is temporary phenomena and should normalise going forward*
• Commenced 2 dedicated facilities at Dahej
• Focus on expanding Pharma product profile
• Launched 2 new products
• Moving up the value chain by accelerating qualifications of new molecules in both Agro and Pharmaceuticals sectors, capacity utilization of newly commissioned plants to remain in focus
• Working on key campaigns to be run in the next few quarters
• *FY22E Guidance – Maintain 15-20% growth rate*
_Fluoro_
• Higher sales volumes in the refrigerants and the blends segment, especially from the export markets
• Uptick in Auto sales led to higher offtake in R-134a revenues
• Expect demand to grow further in coming quarters
• Domestic market in Q1 witnessed lower offtake induced by localized lockdowns
• *New Capex* - Integrated expansion of the Fluorocarbon based Refrigerant capacity at an investment of ~ Rs. 550 crore - – 40% of the component is the key raw material of the product (fluoro) to be manufactured
• Production of passenger vehicles in India significantly higher when compared with CPLY
• Demand and production volumes in the AC market also witnessed a spike; _even China and Developed market cant put up new capacities_
• Pharma segment continued to do well in Q1
• *Outlook* - Demand and production volumes in the AC market also witnessed a spike
• Focusing on expanding in new markets / geographies and product offerings, ramping up sales from refrigerants and blends
• *Guidance* - Expect higher capacity utilisation which would aid margins due to operating leverage
*_Packaging Films_*
• Segment continues to perform well, despite impact of COVID-19 second wave on domestic markets – due to New capacities that came on-stream in Hungary and Thailand
• Launched 2 new products
• Surge in export freight rates impacted adversely
• In Q1 FY22, demand for BOPET films was subdued, while demand for BOPP films remained healthy
• *Globally, several new lines are scheduled to commence in BOPET and BOPP – to impact industry margins in the future*
• Re-emergence of COVID-19 in ASEAN region could affect Thailand performance
• Unrest in South Africa in July will impact Q2 performance of the business
*_Technical Textiles_*
• Segment reported a significantly improved performance on account of: Improved demand in the Nylon Tyre Cord, Belting Fabrics and Polyester Industrial Yarn segments and Re-structuring of margin profile with long-term customers
• International capacities being rebalanced due to certain capacity closures, providing positive NTCF trends
• Higher operating leverage and cost optimization by capacity rationalization across various plants
• Other sub-segments of Technical Textiles Business expected to make a significant contribution to the overall performance
*Outlook – Positive in Long Term*
*Managment maintained growth guidance in Chemical Division to 15-20% Decline in margin in Chemical Division is short term*
The stock is trading at 34x FY22E consensus earnings
*_Specialty Chemical Business_*
_Chemicals_
• Rev grew by 58%
• Higher sales from exports and domestic markets
• The second wave of COVID-19 induced lockdowns resulted in disruption of supply chains, leading to an overall increase in raw material prices and export freight across geographies - *the management believes that increase in raw material prices is temporary phenomena and should normalise going forward*
• Commenced 2 dedicated facilities at Dahej
• Focus on expanding Pharma product profile
• Launched 2 new products
• Moving up the value chain by accelerating qualifications of new molecules in both Agro and Pharmaceuticals sectors, capacity utilization of newly commissioned plants to remain in focus
• Working on key campaigns to be run in the next few quarters
• *FY22E Guidance – Maintain 15-20% growth rate*
_Fluoro_
• Higher sales volumes in the refrigerants and the blends segment, especially from the export markets
• Uptick in Auto sales led to higher offtake in R-134a revenues
• Expect demand to grow further in coming quarters
• Domestic market in Q1 witnessed lower offtake induced by localized lockdowns
• *New Capex* - Integrated expansion of the Fluorocarbon based Refrigerant capacity at an investment of ~ Rs. 550 crore - – 40% of the component is the key raw material of the product (fluoro) to be manufactured
• Production of passenger vehicles in India significantly higher when compared with CPLY
• Demand and production volumes in the AC market also witnessed a spike; _even China and Developed market cant put up new capacities_
• Pharma segment continued to do well in Q1
• *Outlook* - Demand and production volumes in the AC market also witnessed a spike
• Focusing on expanding in new markets / geographies and product offerings, ramping up sales from refrigerants and blends
• *Guidance* - Expect higher capacity utilisation which would aid margins due to operating leverage
*_Packaging Films_*
• Segment continues to perform well, despite impact of COVID-19 second wave on domestic markets – due to New capacities that came on-stream in Hungary and Thailand
• Launched 2 new products
• Surge in export freight rates impacted adversely
• In Q1 FY22, demand for BOPET films was subdued, while demand for BOPP films remained healthy
• *Globally, several new lines are scheduled to commence in BOPET and BOPP – to impact industry margins in the future*
• Re-emergence of COVID-19 in ASEAN region could affect Thailand performance
• Unrest in South Africa in July will impact Q2 performance of the business
*_Technical Textiles_*
• Segment reported a significantly improved performance on account of: Improved demand in the Nylon Tyre Cord, Belting Fabrics and Polyester Industrial Yarn segments and Re-structuring of margin profile with long-term customers
• International capacities being rebalanced due to certain capacity closures, providing positive NTCF trends
• Higher operating leverage and cost optimization by capacity rationalization across various plants
• Other sub-segments of Technical Textiles Business expected to make a significant contribution to the overall performance
*Rollover Updates (29-Jul-2021)*
✅ *NIFTY* July month rollover is 83% vs 3months average of 76%,
✅ *BANKNIFTY* rolls observed at 81% vs 3months average rolls of 76%,
✅ *FINNIFTY* rollover at 84% vs 3months average rolls of 62%,
✅ *Market-wide rolls* at 92% vs 3months average rolls of 90%,
✅ Starting August series with *Nifty PCR* 1.04 vs 1.21 previous series
✅ *India VIX* cool off by 14.27% (EoE) and closed at 12.95 vs 15.10 of the previous series.
*SECTOR/STOCK ROLLOVER ACTIVITY:*
✅ From the sectoral action, rollovers accelerated for *CHEMICAL, AUTOMOBILE, BANKING, FMCG and CAPITAL GOODS,* stocks on expiry. However, low rollovers were seen in *CEMENT, PHARMA and REALTY* sector stocks on expiry day as compared to three month’s average.
✅ Within the Nifty50 space, index heavyweights such as *TATACONSUM, UPL, IOC, ITC and BAJAJ-AUTO* saw aggressive rollover in the August series while low rolls were seen in *BRITANNIA, HINDALCO, ULTRACEMCO, SBILIFE, and DIVISLAB* compared with the 3M average.
✅ From the midcap space,*GAIL. NAVINFLUOR, PVR, SRTRANSFIN, and PNB* saw high rollovers whereas *LTTS, AMBUJACEM, GRANULES, ALKEM and APOLLOHOSP* saw lower rollover compared with the 3M average.
*Stocks to watch out based on Rollover Analysis:*
*POSITIVE*
✅ *JSWSTEEL* Strong Rollover of 98% compared with 3 months average of 90%.
✅ *AARTIIND* Strong Rollover of 95% compared with 3 months average of 90%.
✅ *SBIN* Strong Rollover of 94% compared with 3 months average of 92%.
✅ *LT* Strong Rollover of 96% compared with 3 months average of 90%.
*NEGATIVE*
✅ *DRREDDY* Rollover of 96% compared with 3 month average of 92%.
✅ *M&MFIN* Rollover of 93% compared with 3 month average of 90%.
*Regards,*
*Retail Research ACMIIL*
✅ *NIFTY* July month rollover is 83% vs 3months average of 76%,
✅ *BANKNIFTY* rolls observed at 81% vs 3months average rolls of 76%,
✅ *FINNIFTY* rollover at 84% vs 3months average rolls of 62%,
✅ *Market-wide rolls* at 92% vs 3months average rolls of 90%,
✅ Starting August series with *Nifty PCR* 1.04 vs 1.21 previous series
✅ *India VIX* cool off by 14.27% (EoE) and closed at 12.95 vs 15.10 of the previous series.
*SECTOR/STOCK ROLLOVER ACTIVITY:*
✅ From the sectoral action, rollovers accelerated for *CHEMICAL, AUTOMOBILE, BANKING, FMCG and CAPITAL GOODS,* stocks on expiry. However, low rollovers were seen in *CEMENT, PHARMA and REALTY* sector stocks on expiry day as compared to three month’s average.
✅ Within the Nifty50 space, index heavyweights such as *TATACONSUM, UPL, IOC, ITC and BAJAJ-AUTO* saw aggressive rollover in the August series while low rolls were seen in *BRITANNIA, HINDALCO, ULTRACEMCO, SBILIFE, and DIVISLAB* compared with the 3M average.
✅ From the midcap space,*GAIL. NAVINFLUOR, PVR, SRTRANSFIN, and PNB* saw high rollovers whereas *LTTS, AMBUJACEM, GRANULES, ALKEM and APOLLOHOSP* saw lower rollover compared with the 3M average.
*Stocks to watch out based on Rollover Analysis:*
*POSITIVE*
✅ *JSWSTEEL* Strong Rollover of 98% compared with 3 months average of 90%.
✅ *AARTIIND* Strong Rollover of 95% compared with 3 months average of 90%.
✅ *SBIN* Strong Rollover of 94% compared with 3 months average of 92%.
✅ *LT* Strong Rollover of 96% compared with 3 months average of 90%.
*NEGATIVE*
✅ *DRREDDY* Rollover of 96% compared with 3 month average of 92%.
✅ *M&MFIN* Rollover of 93% compared with 3 month average of 90%.
*Regards,*
*Retail Research ACMIIL*
*MNCL | Jubilant Ingrevia | When Specialty meets value*
MCap: INR 9350crs
CMP: INR 587
Base Case TP: INR 770
Upside: 31%
_*First Cut: Extremely encouraging performance on the back of Acetyls and Specialty Segment*_
_*Ingrevia trades at ~11.4x FY23E EV/EBITDA. Given that Specialty and Nutrition business contributes >70% of our FY23E EBITDA, we believe there is room for further re-rating*_
• *Financial Performance*
- Sales at INR 1145crs up 6% QoQ / 55% YoY
- EBITDA at INR 287crs up 43% QoQ / 126% YoY
- EBITDA margins 25% vs 19% QoQ
- Inventory gains of INR ~63crs; adjusting which EBITDA margins at 20%
- PAT at INR 168crs vs INR 96crs QoQ
• *Life Science Chemicals*: Operating at 27% EBITDA margins. Of the INR 187crs EBITDA for the segment, INR 60crs of which is led by Inventory gains on account of Acetic Acid. The demand scenario continues to remain strong; pricing however as per us should moderate over the medium term.
• *Specialty*: 18% Top-line growth and 22% bottom-line growth. Largely led by volumes in pyridines, we believe this is backed by Chinese ADD being taken off. Performance in this segment as per us is likely to continue. Diketene commercial production to be live in Q3FY22; strategy is target import substitution.
• *Nutrition*: EBITDA de-grew on account of higher input cost and MEIS incentives taken off. Strong demand across customers and margins are likely to improve on account of pass-on of higher input costs.
• *New Areas*: As guided earlier, Capex during the year is expected to be INR 350crs. New CDMO unit and 2 new multi-purpose plants for Specialty Chemicals to commercialize in Q1FY23; this should further improve EBITDA share of Specialty Chemicals.
• We have a base case March-22 target price of *INR 770* valuing at 15x EV/EBITDA, which implies 31% upside on the CMP. Our *Bull / Bear case TP is at INR 1015 and INR 450* respectively.
*Our Recent Update Note*: https://bit.ly/3csTCgC
*Disclaimer*: http://bit.ly/3c3s2XV
Regards,
Vinit Gala, CFA
Analyst - MNCL
MCap: INR 9350crs
CMP: INR 587
Base Case TP: INR 770
Upside: 31%
_*First Cut: Extremely encouraging performance on the back of Acetyls and Specialty Segment*_
_*Ingrevia trades at ~11.4x FY23E EV/EBITDA. Given that Specialty and Nutrition business contributes >70% of our FY23E EBITDA, we believe there is room for further re-rating*_
• *Financial Performance*
- Sales at INR 1145crs up 6% QoQ / 55% YoY
- EBITDA at INR 287crs up 43% QoQ / 126% YoY
- EBITDA margins 25% vs 19% QoQ
- Inventory gains of INR ~63crs; adjusting which EBITDA margins at 20%
- PAT at INR 168crs vs INR 96crs QoQ
• *Life Science Chemicals*: Operating at 27% EBITDA margins. Of the INR 187crs EBITDA for the segment, INR 60crs of which is led by Inventory gains on account of Acetic Acid. The demand scenario continues to remain strong; pricing however as per us should moderate over the medium term.
• *Specialty*: 18% Top-line growth and 22% bottom-line growth. Largely led by volumes in pyridines, we believe this is backed by Chinese ADD being taken off. Performance in this segment as per us is likely to continue. Diketene commercial production to be live in Q3FY22; strategy is target import substitution.
• *Nutrition*: EBITDA de-grew on account of higher input cost and MEIS incentives taken off. Strong demand across customers and margins are likely to improve on account of pass-on of higher input costs.
• *New Areas*: As guided earlier, Capex during the year is expected to be INR 350crs. New CDMO unit and 2 new multi-purpose plants for Specialty Chemicals to commercialize in Q1FY23; this should further improve EBITDA share of Specialty Chemicals.
• We have a base case March-22 target price of *INR 770* valuing at 15x EV/EBITDA, which implies 31% upside on the CMP. Our *Bull / Bear case TP is at INR 1015 and INR 450* respectively.
*Our Recent Update Note*: https://bit.ly/3csTCgC
*Disclaimer*: http://bit.ly/3c3s2XV
Regards,
Vinit Gala, CFA
Analyst - MNCL
*SGX Nifty -46 pts (15766) from last trade 15812 ,*
Nikkei -342 pts ,
Hangseng -273 pts ,
Now @6.54am .
Dow +153.60 pts ,Nsdq +15.68 pts, S&P
+18.51 pts, Bovespa -610 pts , Ftse +61 pts , Dax +70 pts , Cac +24 pts , Crude @ $73.33 brl (-0.29), Brent @ $76.05 brl (+0.00) , Gold @ 1830.50 (-0.70), Silver @ $25.63 (-0.15), Euro @ $1.1892, JPY @ $109.41, INR @ 74.245
*Today's Corporate Action*
*30th Jul Ex Date*
CENTENKA
Dividend - Rs. - 8.0000
HERCULES
Final Dividend - Rs. - 1.5000
LTI
Special Dividend - Rs. - 10.0000
NELCAST
Dividend - Rs. - 0.2000
SRIPIPES
Dividend - Rs. - 6.0000
*Today's Key Results/Board Meetings*
*30-Jul-21*
ABAN
Quarterly Results
ABFRL
Quarterly Results
ADORFO
Quarterly Results
ADSL
Final Dividend;General;Quarterly Results
ANSINDUS
Quarterly Results
ARFIN
Quarterly Results
ASAHIINDIA
General;Quarterly Results
ATLANTA
Audited Results
BANDHANBNK
Quarterly Results
BASANTGL
Quarterly Results
BENARAS
General;Quarterly Results
BHAGWOX
Quarterly Results
BHEL
Quarterly Results
BIRLACAP
Quarterly Results
BIRLATYRES
Audited Results
BLUEDART
Quarterly Results
BODHTREE
General
BRITANNIA
Quarterly Results
CHANDRAP
General;Quarterly Results
CHEMFABALKA
Quarterly Results
CHOLAFIN
General;Quarterly Results
COLINZ
Quarterly Results
COSYN
Quarterly Results
DAAWAT
Quarterly Results
DCW
Quarterly Results
DDIL
Quarterly Results
DEVKI
General;Quarterly Results
DGCONTENT
Quarterly Results
DHARSUGAR
Audited Results
DRCSYSTEMS
Quarterly Results
EQUITASBNK
General;Quarterly Results
EVEXIA
General
EXIDEIND
Quarterly Results
FAIRCHEMOR
Quarterly Results
FINOLEXIND
Quarterly Results
GOKEX
Quarterly Results
GRAVITA
Quarterly Results
HIL
Quarterly Results
HOCL
A.G.M.;General;Quarterly Results
IFBIND
Quarterly Results
INDIGRID
General;Quarterly Results
INDOAMIN
Quarterly Results
IOC
Quarterly Results
JINDALSAW
Quarterly Results
JKPAPER
Quarterly Results
JSWENERGY
General;Quarterly Results
KANSAINER
Quarterly Results
KEC
Quarterly Results
KELENRG
Quarterly Results
KREBSBIO
General;Quarterly Results
LALPATHLAB
Interim Dividend;Quarterly Results
LEDOTEA
A.G.M.
LKPFIN
Quarterly Results
LODHA
Quarterly Results
MACKINN
Audited Results
MAGNAELQ
Quarterly Results
MARALOVER
Quarterly Results
MARICO
Quarterly Results
MASTERTR
Quarterly Results
MODAIRY
Audited Results
NATFIT
A.G.M.;Quarterly Results
NELCO
Quarterly Results
NGLFINE
Quarterly Results
NIDL
Quarterly Results
NIITLTD
Quarterly Results
OMEGAIN
Quarterly Results
ORIENTALTL
Quarterly Results
OSWAYRN
Quarterly Results
PARSHINV
Quarterly Results
PIIND
Quarterly Results
PPL
Quarterly Results
QUASAR
Quarterly Results
RDBRIL
Quarterly Results
ROLLT
Audited Results;Quarterly Results
ROSSARI
Quarterly Results
SAGL
General
SERIND
Quarterly Results
SJCORP
Quarterly Results
SMFIL
Quarterly Results
SRTRANSFIN
Audited Results;General;Quarterly Results
SUNCLAYLTD
General;Quarterly Results
SUNFLAG
Quarterly Results
SUNPHARMA
Quarterly Results
SUNTECK
General;Quarterly Results
SUPREME
Quarterly Results
SUTLEJTEX
Quarterly Results
TINNARUBR
Quarterly Results
TOKYOFIN
Quarterly Results
TOKYOPLAST
Quarterly Results
TOWASOK
A.G.M.;Quarterly Results
TREJHARA
Quarterly Results
TTFL
A.G.M.;Increase in Authorised Capital;General;Preferential Issue of shares
UPL
Quarterly Results
VETO
Quarterly Results
VGUARD
Quarterly Results
WELSPLSOL
Quarterly Results
WEPSOLN
Quarterly Results
ZYDUSWELL
Quarterly Results
*Stock under F&O ban on NSE*
*30-Jul-21*
None
Nikkei -342 pts ,
Hangseng -273 pts ,
Now @6.54am .
Dow +153.60 pts ,Nsdq +15.68 pts, S&P
+18.51 pts, Bovespa -610 pts , Ftse +61 pts , Dax +70 pts , Cac +24 pts , Crude @ $73.33 brl (-0.29), Brent @ $76.05 brl (+0.00) , Gold @ 1830.50 (-0.70), Silver @ $25.63 (-0.15), Euro @ $1.1892, JPY @ $109.41, INR @ 74.245
*Today's Corporate Action*
*30th Jul Ex Date*
CENTENKA
Dividend - Rs. - 8.0000
HERCULES
Final Dividend - Rs. - 1.5000
LTI
Special Dividend - Rs. - 10.0000
NELCAST
Dividend - Rs. - 0.2000
SRIPIPES
Dividend - Rs. - 6.0000
*Today's Key Results/Board Meetings*
*30-Jul-21*
ABAN
Quarterly Results
ABFRL
Quarterly Results
ADORFO
Quarterly Results
ADSL
Final Dividend;General;Quarterly Results
ANSINDUS
Quarterly Results
ARFIN
Quarterly Results
ASAHIINDIA
General;Quarterly Results
ATLANTA
Audited Results
BANDHANBNK
Quarterly Results
BASANTGL
Quarterly Results
BENARAS
General;Quarterly Results
BHAGWOX
Quarterly Results
BHEL
Quarterly Results
BIRLACAP
Quarterly Results
BIRLATYRES
Audited Results
BLUEDART
Quarterly Results
BODHTREE
General
BRITANNIA
Quarterly Results
CHANDRAP
General;Quarterly Results
CHEMFABALKA
Quarterly Results
CHOLAFIN
General;Quarterly Results
COLINZ
Quarterly Results
COSYN
Quarterly Results
DAAWAT
Quarterly Results
DCW
Quarterly Results
DDIL
Quarterly Results
DEVKI
General;Quarterly Results
DGCONTENT
Quarterly Results
DHARSUGAR
Audited Results
DRCSYSTEMS
Quarterly Results
EQUITASBNK
General;Quarterly Results
EVEXIA
General
EXIDEIND
Quarterly Results
FAIRCHEMOR
Quarterly Results
FINOLEXIND
Quarterly Results
GOKEX
Quarterly Results
GRAVITA
Quarterly Results
HIL
Quarterly Results
HOCL
A.G.M.;General;Quarterly Results
IFBIND
Quarterly Results
INDIGRID
General;Quarterly Results
INDOAMIN
Quarterly Results
IOC
Quarterly Results
JINDALSAW
Quarterly Results
JKPAPER
Quarterly Results
JSWENERGY
General;Quarterly Results
KANSAINER
Quarterly Results
KEC
Quarterly Results
KELENRG
Quarterly Results
KREBSBIO
General;Quarterly Results
LALPATHLAB
Interim Dividend;Quarterly Results
LEDOTEA
A.G.M.
LKPFIN
Quarterly Results
LODHA
Quarterly Results
MACKINN
Audited Results
MAGNAELQ
Quarterly Results
MARALOVER
Quarterly Results
MARICO
Quarterly Results
MASTERTR
Quarterly Results
MODAIRY
Audited Results
NATFIT
A.G.M.;Quarterly Results
NELCO
Quarterly Results
NGLFINE
Quarterly Results
NIDL
Quarterly Results
NIITLTD
Quarterly Results
OMEGAIN
Quarterly Results
ORIENTALTL
Quarterly Results
OSWAYRN
Quarterly Results
PARSHINV
Quarterly Results
PIIND
Quarterly Results
PPL
Quarterly Results
QUASAR
Quarterly Results
RDBRIL
Quarterly Results
ROLLT
Audited Results;Quarterly Results
ROSSARI
Quarterly Results
SAGL
General
SERIND
Quarterly Results
SJCORP
Quarterly Results
SMFIL
Quarterly Results
SRTRANSFIN
Audited Results;General;Quarterly Results
SUNCLAYLTD
General;Quarterly Results
SUNFLAG
Quarterly Results
SUNPHARMA
Quarterly Results
SUNTECK
General;Quarterly Results
SUPREME
Quarterly Results
SUTLEJTEX
Quarterly Results
TINNARUBR
Quarterly Results
TOKYOFIN
Quarterly Results
TOKYOPLAST
Quarterly Results
TOWASOK
A.G.M.;Quarterly Results
TREJHARA
Quarterly Results
TTFL
A.G.M.;Increase in Authorised Capital;General;Preferential Issue of shares
UPL
Quarterly Results
VETO
Quarterly Results
VGUARD
Quarterly Results
WELSPLSOL
Quarterly Results
WEPSOLN
Quarterly Results
ZYDUSWELL
Quarterly Results
*Stock under F&O ban on NSE*
*30-Jul-21*
None
*Good Morning*
India to Allow 100% FDI Under Auto Route for State Oil Co. Sale
India Inflation To Be Within Central Bank Target Range: Adviser
Bharti Airtel Lost Net 4.6M Mobile Users in May; Jio Added 3.6M
Embassy REIT Sees Office Demand Rebounding by March, CEO Says
Cash Is King for Whipsawed Emerging-Market Investors, HSBC Says
Investors favor countries that are front-loading rate hikes
India Court Reserves Verdict on Amazon Plea to Stop Future Deal
Global Funds Sell Net INR8.66B of India Stocks on Thursday: NSE
Domestic funds Buy net 20.5b rupees of stocks
Foreign Investors Sell Net INR24.4B of Indian Equities on July 28
Foreigners Buy Net INR41.2B Indian Equity Derivatives Thursday
U.K. Carmakers Low on Staff in Second-Worst June Since 1953
Parliament passes Factoring Regulation Bill to help MSME sector: PTI
4pm: India Fiscal Deficit in Rupees for April-June Period, prior 44,475
5:30pm: Eight Infrastructure Industries Index for June (Prior 16.8%)
Ajanta Pharma (AJP): 1Q net income +18% y/y to 1.74b rupees, beats est. 1.67b; revenue +12% y/y to 7.48b
Container Corp. (CCRI): 1Q net income 2.55b rupees vs. 616.7m y/y, beats est. 1.95b, revenue +52% y/y to 18.1b
Deepak Nitrite (DN): 1Q net income 3.02b rupees vs. 989.5m y/y, beats est. 2.59b
Laurus Labs (LAURUS): 1Q net income +40% y/y to 2.41b rupees, misses est. 2.74b
Mangalore Refinery (MRPL): 1Q net loss 863m rupees vs. loss 5.20b Y/y
Oberoi Realty (OBER): 1Q net Income 806.3m rupees vs. 280.7m y/y
R Systems International (RSYS): To consider share buyback on Aug. 6
Shriram City Union (SCUF): 1Q net income 2.08b rupees vs. 1.92b y/y
Tech Mahindra (TECHM): 1Q net income +39% y/y 13.5b rupees, beats est. 12.16b; revenue +12% y/y to 102b
TVS Motor (TVSL): 1Q net income 531.5m rupees vs. loss 1.40b y/y, misses est. 1.29b; revenue 39.3b vs. 14.3b y/y
Union Bank Of India (UNBK): 1Q net income 11.8b rupees vs. 3.33b y/y, provisions 35.2b; Gross NPA 13.6% vs. 13.7% q/q
India to Allow 100% FDI Under Auto Route for State Oil Co. Sale
India Inflation To Be Within Central Bank Target Range: Adviser
Bharti Airtel Lost Net 4.6M Mobile Users in May; Jio Added 3.6M
Embassy REIT Sees Office Demand Rebounding by March, CEO Says
Cash Is King for Whipsawed Emerging-Market Investors, HSBC Says
Investors favor countries that are front-loading rate hikes
India Court Reserves Verdict on Amazon Plea to Stop Future Deal
Global Funds Sell Net INR8.66B of India Stocks on Thursday: NSE
Domestic funds Buy net 20.5b rupees of stocks
Foreign Investors Sell Net INR24.4B of Indian Equities on July 28
Foreigners Buy Net INR41.2B Indian Equity Derivatives Thursday
U.K. Carmakers Low on Staff in Second-Worst June Since 1953
Parliament passes Factoring Regulation Bill to help MSME sector: PTI
4pm: India Fiscal Deficit in Rupees for April-June Period, prior 44,475
5:30pm: Eight Infrastructure Industries Index for June (Prior 16.8%)
Ajanta Pharma (AJP): 1Q net income +18% y/y to 1.74b rupees, beats est. 1.67b; revenue +12% y/y to 7.48b
Container Corp. (CCRI): 1Q net income 2.55b rupees vs. 616.7m y/y, beats est. 1.95b, revenue +52% y/y to 18.1b
Deepak Nitrite (DN): 1Q net income 3.02b rupees vs. 989.5m y/y, beats est. 2.59b
Laurus Labs (LAURUS): 1Q net income +40% y/y to 2.41b rupees, misses est. 2.74b
Mangalore Refinery (MRPL): 1Q net loss 863m rupees vs. loss 5.20b Y/y
Oberoi Realty (OBER): 1Q net Income 806.3m rupees vs. 280.7m y/y
R Systems International (RSYS): To consider share buyback on Aug. 6
Shriram City Union (SCUF): 1Q net income 2.08b rupees vs. 1.92b y/y
Tech Mahindra (TECHM): 1Q net income +39% y/y 13.5b rupees, beats est. 12.16b; revenue +12% y/y to 102b
TVS Motor (TVSL): 1Q net income 531.5m rupees vs. loss 1.40b y/y, misses est. 1.29b; revenue 39.3b vs. 14.3b y/y
Union Bank Of India (UNBK): 1Q net income 11.8b rupees vs. 3.33b y/y, provisions 35.2b; Gross NPA 13.6% vs. 13.7% q/q
Amazon Q2 Result + Q3 Guidance very weak. Result announced after mkt close so today Amazon to open 8-10% down. That's why all Tech stocks & Nasdaq futures (Amazon weightage 9% on Nasdaq) trading lower result in weaker opening in Asian Markets.
╭───────────────────╮
🌄 S̴h̴u̴b̴o̴u̴d̴h̴a̴y̴ : 30 Jul/श्रावण मास(Friday) वर्ष ऋतू(23 सेप्टेंबर तक) {कृष्ण पक्ष}🙏🏻
╰────────────── ──────╯
Today's top News ➣➣➣➣➣➣➣➣➣➣➣➣➣
1. Govt Approves 27% Reservation for OBC, 10% for Economically Weaker Section in All India Quota Medical College Admissions.
2. India is likely to launch its 3rd lunar mission Chandrayaan-3 in the third quarter of next year because the Covid-19 pandemic has delayed the fabrication of the spacecraft, Union minister of state for the department of space Jitendra Singh told.
3. IndiGo will start direct flights between Jabalpur and Mumbai, Delhi, Hyderabad and Indore from August 20.
4. PM Modi on 29 Jul (Thursday) launched a website dedicated to Artificial Intelligence (AI) on the occasion of the first anniversary of the National Education Policy 2020 and said that the website would make our youth future-oriented.
5. COVID-19: Complete lockdown in Kerala from 31 July to 01 Aug . The average daily cases being reported in the state are above 17,443
6. The Assam govt on Thursday issued an 👍🏼advisory asking its citizens to refrain from travelling to Mizoram as border tensions between the two states. Six Assam Police personnel and a civilian were killed and over 50 others including a superintendent of police were injured when the Mizoram Police opened fire on a team of Assam officials Monday.
7. *ASSAM'S BORDER DISPUTES* : The chief secretaries and police chiefs of Assam and Mizoram at a meeting called by the Union Home Ministry in Delhi agreed to the deployment of a neutral central armed police force along National Hghway 306, headed by a senior central police officer to keep peace along the border of the two states.
8. *Basic reason for dispute* is land encroachment near Hailakandi district, Cachar & Karimganj and sharing of border between two states.
Mizoram shares about 164.6 km long border with Assam. The hill state Mizoram was part of Assam until 1972 when it was carved out as a Union Territory. It became the 23rd state of India on 20 February 1987 with Aizwal as it's capital. Now Zoramthanga is the CM of Mizoram.
9. In Kerala a Major Fire Breaks Out at Poultry Feed Manufacturing Unit in Palakkad; 30 Injured.
10. The Delhi Assembly on 29 Jul (Thursday) passed a resolution urging the Centre to immediately withdraw the appointment of Rakesh Asthana as the Delhi Police commissioner.
11. Himachal Pradesh High Court says that a Pregnant women need bail, not jail, high court allowed the petition of a pregnant woman accused in a Narcotic Drugs case. Justice Anoop Chitkara also said that temporary bail or suspension of sentence, extending to a year after delivery, must be allowed even when the offences are very grave and accusations very severe.
12. Indian Railways Introduces New Rules for Booking Train Tickets Online: new rule of the Indian Railways is applicable for passengers who have not booked tickets for a long time due to the ongoing COVID-19 pandemic. Such users will have to first undergo the verification process before they buy tickets from the IRCTC portal. Passengers cannot skip this process by any means. However, those who have booked tickets regularly will not have to go through the drill.
13. Birthday of Bollywood actor Sonu Sood (born 30 July 1973). He is an Indian film actor, model, and producer who acts predominantly in Hindi, Telugu, Tamil, Kannada and Punjabi films.
14. India has so far received 26 Rafale aircraft out of the 36 it has ordered from Dassault Aviation, Minister of State for Defence Ajay Bhatt said .
15. The Eurofighter Typhoon will soon be equipped with a new electronic warfare system, SPEAR-EW, capable of neutralizing the “most sophisticated air defenses”. Multinational defense company MBDA is now working on a new electronic warfare version of the SPEAR weapon system.
To join the Whatsapp group for daily news send request @ nin for zro for eit zro sevan fi to zro
✈ INTERNATIONAL NEWS
🌄 S̴h̴u̴b̴o̴u̴d̴h̴a̴y̴ : 30 Jul/श्रावण मास(Friday) वर्ष ऋतू(23 सेप्टेंबर तक) {कृष्ण पक्ष}🙏🏻
╰────────────── ──────╯
Today's top News ➣➣➣➣➣➣➣➣➣➣➣➣➣
1. Govt Approves 27% Reservation for OBC, 10% for Economically Weaker Section in All India Quota Medical College Admissions.
2. India is likely to launch its 3rd lunar mission Chandrayaan-3 in the third quarter of next year because the Covid-19 pandemic has delayed the fabrication of the spacecraft, Union minister of state for the department of space Jitendra Singh told.
3. IndiGo will start direct flights between Jabalpur and Mumbai, Delhi, Hyderabad and Indore from August 20.
4. PM Modi on 29 Jul (Thursday) launched a website dedicated to Artificial Intelligence (AI) on the occasion of the first anniversary of the National Education Policy 2020 and said that the website would make our youth future-oriented.
5. COVID-19: Complete lockdown in Kerala from 31 July to 01 Aug . The average daily cases being reported in the state are above 17,443
6. The Assam govt on Thursday issued an 👍🏼advisory asking its citizens to refrain from travelling to Mizoram as border tensions between the two states. Six Assam Police personnel and a civilian were killed and over 50 others including a superintendent of police were injured when the Mizoram Police opened fire on a team of Assam officials Monday.
7. *ASSAM'S BORDER DISPUTES* : The chief secretaries and police chiefs of Assam and Mizoram at a meeting called by the Union Home Ministry in Delhi agreed to the deployment of a neutral central armed police force along National Hghway 306, headed by a senior central police officer to keep peace along the border of the two states.
8. *Basic reason for dispute* is land encroachment near Hailakandi district, Cachar & Karimganj and sharing of border between two states.
Mizoram shares about 164.6 km long border with Assam. The hill state Mizoram was part of Assam until 1972 when it was carved out as a Union Territory. It became the 23rd state of India on 20 February 1987 with Aizwal as it's capital. Now Zoramthanga is the CM of Mizoram.
9. In Kerala a Major Fire Breaks Out at Poultry Feed Manufacturing Unit in Palakkad; 30 Injured.
10. The Delhi Assembly on 29 Jul (Thursday) passed a resolution urging the Centre to immediately withdraw the appointment of Rakesh Asthana as the Delhi Police commissioner.
11. Himachal Pradesh High Court says that a Pregnant women need bail, not jail, high court allowed the petition of a pregnant woman accused in a Narcotic Drugs case. Justice Anoop Chitkara also said that temporary bail or suspension of sentence, extending to a year after delivery, must be allowed even when the offences are very grave and accusations very severe.
12. Indian Railways Introduces New Rules for Booking Train Tickets Online: new rule of the Indian Railways is applicable for passengers who have not booked tickets for a long time due to the ongoing COVID-19 pandemic. Such users will have to first undergo the verification process before they buy tickets from the IRCTC portal. Passengers cannot skip this process by any means. However, those who have booked tickets regularly will not have to go through the drill.
13. Birthday of Bollywood actor Sonu Sood (born 30 July 1973). He is an Indian film actor, model, and producer who acts predominantly in Hindi, Telugu, Tamil, Kannada and Punjabi films.
14. India has so far received 26 Rafale aircraft out of the 36 it has ordered from Dassault Aviation, Minister of State for Defence Ajay Bhatt said .
15. The Eurofighter Typhoon will soon be equipped with a new electronic warfare system, SPEAR-EW, capable of neutralizing the “most sophisticated air defenses”. Multinational defense company MBDA is now working on a new electronic warfare version of the SPEAR weapon system.
To join the Whatsapp group for daily news send request @ nin for zro for eit zro sevan fi to zro
✈ INTERNATIONAL NEWS
1. US Secretary of State Antony Blinken and PM Modi discuss efforts to deepen US-India global partnership. They discussed regional challenges & cooperation on COVID-19 response efforts, climate change, regional security and shared values & democratic principles.
2. The International Air Transport Association (IATA) urged the Indian government to remove COVID-19 related restrictions on airlines in the country. The body of 290 global airlines wants India to resume operation of international flights along with an end to capacity restrictions and fare capping for domestic airlines.
3. Army Chief General MM Naravane held talks with Commander of US Special Operations Command General Richard D Clarke on Thursday, focussing on various key aspects of bilateral defence and security cooperation
4. The Indian Air Force (IAF) has now deployed recently acquired Rafale fighter jets close to China on the eastern front before the next round of military talks between both the countries, likely to be held soon.
5. *OP PAWAN* : The intervention in Sri Lanka.
There are few people in India, who know about the Indian military intervention in Sri Lanka, that began on 29th July 1987 thirty four years ago, and lasted for 967 days, having taken the lines of 1155 brave Indian soldiers..
🌎 WORLD NEWS 🌍
1. China's foreign minister met with a delegation of high-level Taliban officials as ties between them warm ahead of the US pullout from Afghanistan. A photo posted on the ministry's website showed Wang Yi posing with senior Taliban leader Mullah Abdul Ghani Baradar and his delegation in the city of Tianjin.
2. The U.S. Congress on 29 Jul (Thursday) approved emergency funding to replenish the Capitol Police and bolster security after the Jan. 6 riot by supporters of then-President Donald Trump and to evacuate Afghans who helped American forces from their country.
3. Israel will roll out a booster dose of the Pfizer-BioNTech COVID-19 vaccine to older people, citing a drop in protection against severe disease driven by the Delta variant.
4. Tsunami alert issued for Hawaii after 8.2 magnitude earthquake hits Alaska peninsula.
5. Israeli authorities have inspected the offices of surveillance outfit NSO Group in response to the Pegasus project investigation into abuses of the company’s spyware by several government clients. Officials from the Defence Ministry visited the company’s offices near Tel Aviv.
====================
🚣🚴🏇🏁🏊 SPORTS:
======================
*MEDALS POSN* .
*Rk G. S. B. T.*
1 Japan 15 4 5 24
2 China 14 6. 9 29
3 USA 13 14 10 37
4 Australia 8 2 10 20
5 Russian 7. 11 8 26
6 Britain. 5 7. 6 18
India in 46th Position with 1 silver
×*×*×*×*×*×*×*×*×*×*×*×
1. Shuttler PV Sindhu defeated Mia Blichfeldt in straight games to advance to quarter-finals of women’s singles.
2. Six-time world champion M C Mary Kom on 29 Jul (Thursday) slammed the International Olympic Committee’s Boxing Task Force for “poor judging" in her flyweight (51kg) pre-quarterfinal at the Tokyo Games which she lost despite winning two of the three rounds.
##################
*EVENTS AND SCHEDULE*
30 July 2021
Day 7 schedule:
Schedule for India's participants :
*SHOOTING*
5:30 AM: 25m Pistol Women's Qualification Rapid (Rahi Sarnobat, Manu Bhaker)
*ARCHERY*
6:00 AM: Women's Individual 1/8 Eliminations (Deepika Kumari vs Ksenia Perova of ROC)
*ATHLETICS*
6:17 AM: Men's 3000m Steeplechase Round 1 - Heat 2 (Avinash Mukund Sable)
*HOCKEY*
8:15 AM: Women's Pool A (India vs Ireland)
*BOXING*
8:18 AM: Women's Light (57-60kg) - Round of 16 (Simranjit Kaur vs Sudaporn Seesondee of Thailand)
*ATHLETICS*
8: 27 AM: Men's 400m Hurdles Round 1 - Heat 5 (MP Jabir)
*SAILING*
8:35 AM: Women's One Person Dinghy - Laser Radial - Race 09 (Nethra Kumanan)
Followed by Race 1
8:35 AM: Men's Skiff - 49er - Race 07 (Ganapathy Kelapanda-Varun Thakkar)
Followed by Race 08, Race09
*ATHLETICS*
8:45 AM: Women's 100m Round 1 - Heat 1 (Dutee Chand)
2. The International Air Transport Association (IATA) urged the Indian government to remove COVID-19 related restrictions on airlines in the country. The body of 290 global airlines wants India to resume operation of international flights along with an end to capacity restrictions and fare capping for domestic airlines.
3. Army Chief General MM Naravane held talks with Commander of US Special Operations Command General Richard D Clarke on Thursday, focussing on various key aspects of bilateral defence and security cooperation
4. The Indian Air Force (IAF) has now deployed recently acquired Rafale fighter jets close to China on the eastern front before the next round of military talks between both the countries, likely to be held soon.
5. *OP PAWAN* : The intervention in Sri Lanka.
There are few people in India, who know about the Indian military intervention in Sri Lanka, that began on 29th July 1987 thirty four years ago, and lasted for 967 days, having taken the lines of 1155 brave Indian soldiers..
🌎 WORLD NEWS 🌍
1. China's foreign minister met with a delegation of high-level Taliban officials as ties between them warm ahead of the US pullout from Afghanistan. A photo posted on the ministry's website showed Wang Yi posing with senior Taliban leader Mullah Abdul Ghani Baradar and his delegation in the city of Tianjin.
2. The U.S. Congress on 29 Jul (Thursday) approved emergency funding to replenish the Capitol Police and bolster security after the Jan. 6 riot by supporters of then-President Donald Trump and to evacuate Afghans who helped American forces from their country.
3. Israel will roll out a booster dose of the Pfizer-BioNTech COVID-19 vaccine to older people, citing a drop in protection against severe disease driven by the Delta variant.
4. Tsunami alert issued for Hawaii after 8.2 magnitude earthquake hits Alaska peninsula.
5. Israeli authorities have inspected the offices of surveillance outfit NSO Group in response to the Pegasus project investigation into abuses of the company’s spyware by several government clients. Officials from the Defence Ministry visited the company’s offices near Tel Aviv.
====================
🚣🚴🏇🏁🏊 SPORTS:
======================
*MEDALS POSN* .
*Rk G. S. B. T.*
1 Japan 15 4 5 24
2 China 14 6. 9 29
3 USA 13 14 10 37
4 Australia 8 2 10 20
5 Russian 7. 11 8 26
6 Britain. 5 7. 6 18
India in 46th Position with 1 silver
×*×*×*×*×*×*×*×*×*×*×*×
1. Shuttler PV Sindhu defeated Mia Blichfeldt in straight games to advance to quarter-finals of women’s singles.
2. Six-time world champion M C Mary Kom on 29 Jul (Thursday) slammed the International Olympic Committee’s Boxing Task Force for “poor judging" in her flyweight (51kg) pre-quarterfinal at the Tokyo Games which she lost despite winning two of the three rounds.
##################
*EVENTS AND SCHEDULE*
30 July 2021
Day 7 schedule:
Schedule for India's participants :
*SHOOTING*
5:30 AM: 25m Pistol Women's Qualification Rapid (Rahi Sarnobat, Manu Bhaker)
*ARCHERY*
6:00 AM: Women's Individual 1/8 Eliminations (Deepika Kumari vs Ksenia Perova of ROC)
*ATHLETICS*
6:17 AM: Men's 3000m Steeplechase Round 1 - Heat 2 (Avinash Mukund Sable)
*HOCKEY*
8:15 AM: Women's Pool A (India vs Ireland)
*BOXING*
8:18 AM: Women's Light (57-60kg) - Round of 16 (Simranjit Kaur vs Sudaporn Seesondee of Thailand)
*ATHLETICS*
8: 27 AM: Men's 400m Hurdles Round 1 - Heat 5 (MP Jabir)
*SAILING*
8:35 AM: Women's One Person Dinghy - Laser Radial - Race 09 (Nethra Kumanan)
Followed by Race 1
8:35 AM: Men's Skiff - 49er - Race 07 (Ganapathy Kelapanda-Varun Thakkar)
Followed by Race 08, Race09
*ATHLETICS*
8:45 AM: Women's 100m Round 1 - Heat 1 (Dutee Chand)
*BOXING*
8:48 AM: Women's Welter (64-69kg) Quarterfinal 2 (Lovlina Borgohain vs Nien-Chin Chen of Chinese Taipei)
*GOLF*
8:52 AM: Men's Individual Stroke Play Round 2 (Anirban Lahiri)
*SHOOTING*
10:30 AM: 25m Pistol Women's Final (Subject to Qualification)
*SAILING*
11:05 AM: Men's One Person Dinghy - Laser - Race 09 (Vishnu Saravanan)
Followed by Race 10
*GOLF*
11:09 AM: Men's Individual Stroke Play Round 2 (Udayan Mane)
*BADMINTON*
1:15 PM: Women's Singles Quarterfinal (PV Sindhu vs Akane Yamaguchi of Japan)
*EQUESTRIAN*
2:00 PM: Eventing Dressage Team and Individual Day 1 (Fouaad Mirza)
*HOCKEY*
3:00 PM: Men's Pool A (India vs Japan)
*ATHLETICS*
4:42 PM: 4x400m Relay Mixed Round 1 - Heat 2 (Revathi Veeramani, Subha Venkatesan, Alex Antony, Sarthak Bhambri)
÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷
*INDIA VS SRI LANKA*
3rd T20I t20, R.Premadasa Stadium, Colombo,
*INDIA 81/8 (20.0)*
Shikhar Dhawan (Capt.)
Vs
SRI LANKA 82/3 (14.3)
Dasun Shanaka (Capt)
SRI LANKA won by 7 Wkts 36 Balls left.
USD 74.26 💷GBP 103.67
Bhubaneswar (Odhissa)
CM : Sh. Naveen Patnaik
🥇 Gold ₹49,720©10 gm 24 (Krt)
🥈 Silver ₹67,200©Kg
⛽ Petrol ₹ 102.66
⛽ Diesel ₹ 97.95
LPG : ₹ 861/14.2 Kg
BSE Sensex 52,653.07
NIFTY : 15,778.45
Ⓝⓐⓥⓔⓔⓝ Ⓚⓤⓜⓐⓡ
🇮🇳 Facts about India 🇮🇳
Orissa is the modern name of the ancient kingdom of Kalinga, which was invaded by the Mauryan Emperor Ashoka in 261 BCE. The modern state of Orissa was established on 1 April 1936, as a province in British India & consisted predominantly of Oriya speakers.
Odisha known in the past as Kalinga, Utkal or Odradesa or Utkala Dibasa. This Utkala word can hear in our National Anthem. Later on Utkala became Urisha, Orissa and now Odhisa. The name of the state Orissa to Odisha changed with effect from November 01, 2011.
*😀Thought of the day*
Caring for some one is easy, but to make someone care for you is difficult. So never loose those who really cares .
*Joke of the day*
*पप्पू (मेहमान से)* : ठंडा लोगे या गर्म?
*मेहमान* : दोनों ले आओ...
*पप्पू* : फेकू.. एक गिलास फ्रीजर से और दूसरा गिलास गीजर से पानी ले आओ..😜😝
*😳Why❓❓❓*
*Does "laughing gas" actually make you laugh?*
Nitrous Oxide or laughing gas. When you inhale the gas, it displaces the air in your lungs and prevents oxygen from getting to your brain and blood. This deprivation is what causes all the giggles. Some people even experience mild hallucinations.
However, nitrous oxide generates a feeling of euphoria which makes a person want to laugh. N2O triggers the release of dopamine molecules in our body, Dopamine is a type of neurotransmitter. Your body makes it, and your nervous system uses it to send messages between nerve cells. That's why it's sometimes called a chemical messenger. Dopamine plays a role in how we feel pleasure. Dopamine is particularly known as being the "happy hormone." It is responsible for our experiencing happiness.
*LEARN Sanskrit*🙏🏻
*अहम् आनन्दितो अस्मि* ।. Aham Anandito Asmi
I AM HAPPY
🤔 *How it works* ⁉
*How Does a QR Code Work?*
A QR Code, or quick response Code, is a Code that is quickly readable by a cell phone (hence the word “quick” in the name). Using a combination of spacing as a type of Matrix Barcode (a 2-D Barcode), when a QR Code is scanned, it conveys a wide multitude of information. A QR code is a type of matrix barcode first designed in 1994 for the automotive industry in Japan. A barcode is a machine-readable optical label that contains information about the item to which it is attached. A QR code consists of black squares arranged in a square grid on a white background, which can be read by an imaging device such as a camera.
QR Codes found their first use in Japan’s Kanban.
💁🏻♂️ *GK TODAY*
8:48 AM: Women's Welter (64-69kg) Quarterfinal 2 (Lovlina Borgohain vs Nien-Chin Chen of Chinese Taipei)
*GOLF*
8:52 AM: Men's Individual Stroke Play Round 2 (Anirban Lahiri)
*SHOOTING*
10:30 AM: 25m Pistol Women's Final (Subject to Qualification)
*SAILING*
11:05 AM: Men's One Person Dinghy - Laser - Race 09 (Vishnu Saravanan)
Followed by Race 10
*GOLF*
11:09 AM: Men's Individual Stroke Play Round 2 (Udayan Mane)
*BADMINTON*
1:15 PM: Women's Singles Quarterfinal (PV Sindhu vs Akane Yamaguchi of Japan)
*EQUESTRIAN*
2:00 PM: Eventing Dressage Team and Individual Day 1 (Fouaad Mirza)
*HOCKEY*
3:00 PM: Men's Pool A (India vs Japan)
*ATHLETICS*
4:42 PM: 4x400m Relay Mixed Round 1 - Heat 2 (Revathi Veeramani, Subha Venkatesan, Alex Antony, Sarthak Bhambri)
÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷÷
*INDIA VS SRI LANKA*
3rd T20I t20, R.Premadasa Stadium, Colombo,
*INDIA 81/8 (20.0)*
Shikhar Dhawan (Capt.)
Vs
SRI LANKA 82/3 (14.3)
Dasun Shanaka (Capt)
SRI LANKA won by 7 Wkts 36 Balls left.
USD 74.26 💷GBP 103.67
Bhubaneswar (Odhissa)
CM : Sh. Naveen Patnaik
🥇 Gold ₹49,720©10 gm 24 (Krt)
🥈 Silver ₹67,200©Kg
⛽ Petrol ₹ 102.66
⛽ Diesel ₹ 97.95
LPG : ₹ 861/14.2 Kg
BSE Sensex 52,653.07
NIFTY : 15,778.45
Ⓝⓐⓥⓔⓔⓝ Ⓚⓤⓜⓐⓡ
🇮🇳 Facts about India 🇮🇳
Orissa is the modern name of the ancient kingdom of Kalinga, which was invaded by the Mauryan Emperor Ashoka in 261 BCE. The modern state of Orissa was established on 1 April 1936, as a province in British India & consisted predominantly of Oriya speakers.
Odisha known in the past as Kalinga, Utkal or Odradesa or Utkala Dibasa. This Utkala word can hear in our National Anthem. Later on Utkala became Urisha, Orissa and now Odhisa. The name of the state Orissa to Odisha changed with effect from November 01, 2011.
*😀Thought of the day*
Caring for some one is easy, but to make someone care for you is difficult. So never loose those who really cares .
*Joke of the day*
*पप्पू (मेहमान से)* : ठंडा लोगे या गर्म?
*मेहमान* : दोनों ले आओ...
*पप्पू* : फेकू.. एक गिलास फ्रीजर से और दूसरा गिलास गीजर से पानी ले आओ..😜😝
*😳Why❓❓❓*
*Does "laughing gas" actually make you laugh?*
Nitrous Oxide or laughing gas. When you inhale the gas, it displaces the air in your lungs and prevents oxygen from getting to your brain and blood. This deprivation is what causes all the giggles. Some people even experience mild hallucinations.
However, nitrous oxide generates a feeling of euphoria which makes a person want to laugh. N2O triggers the release of dopamine molecules in our body, Dopamine is a type of neurotransmitter. Your body makes it, and your nervous system uses it to send messages between nerve cells. That's why it's sometimes called a chemical messenger. Dopamine plays a role in how we feel pleasure. Dopamine is particularly known as being the "happy hormone." It is responsible for our experiencing happiness.
*LEARN Sanskrit*🙏🏻
*अहम् आनन्दितो अस्मि* ।. Aham Anandito Asmi
I AM HAPPY
🤔 *How it works* ⁉
*How Does a QR Code Work?*
A QR Code, or quick response Code, is a Code that is quickly readable by a cell phone (hence the word “quick” in the name). Using a combination of spacing as a type of Matrix Barcode (a 2-D Barcode), when a QR Code is scanned, it conveys a wide multitude of information. A QR code is a type of matrix barcode first designed in 1994 for the automotive industry in Japan. A barcode is a machine-readable optical label that contains information about the item to which it is attached. A QR code consists of black squares arranged in a square grid on a white background, which can be read by an imaging device such as a camera.
QR Codes found their first use in Japan’s Kanban.
💁🏻♂️ *GK TODAY*
The states of Arunachal Pradesh, Assam, Meghalaya, Manipur, Mizoram, Nagaland and Tripura were named the Seven Sisters in 1972. Jyoti Prasad Saikia, a civil servant from Assam compiled a book named it as the Land of Seven Sisters. This nickname has caught on and became familiar.
*BORN TODAY* 💐🐣
Satyendranath Bose or Satyen Bose) (30 July 1882 – 21 November 1908) was an Indian Bengali revolutionary, who, along with Kanailal Dutta, was convicted by the British for assassination of Narendranath Goswami, an approver of the British, in the Jail hospital of Alipore Central Jail on 31 August 1908.
Satyendra Nath Bosu was hanged till death on 21 November 1908
🛕 *VEDIK GYAN*
*In Ramayana*
*Bali* , the king of Kishkindha, was the elder brother of Sugreev. He was a son of Indra who had given him a celestial necklace. It was a necklace with special properties for, after wearing it, if Bali battled with anyone, half the strength of his opponent would be transferred to him.
*Sugreev wife* name was *Ruma or Roma*
*Bali wife* name was *Tara*
*Bali* was invincible during Treta Yuga. Nali defeated some of the greatest warriors like Ravana. Bali was blessed with the ability to obtain half the strength of his opponent. Hence, Rama killed Bali by hiding behind the trees.
After Bali's death, Sugriva reclaimed the vanara kingdom, took back his wife, *Rumā* and took over Bali's main wife, *Tara* , who became empress and her son by Bali, Angada, who became crown prince.
🧬 *HEALTH CARE: HOME REMEDIES*🩺
( *Note* : These home tips followed in villages/ancient traditions, it is up to you to use it or not🙏🏻)
*Use of Cumin seeds*
*Zeera*
1. The most common traditional use of cumin is for indigestion. Cumin also increases the release of bile from the liver. Bile helps digest fats.
2. Many people around the world don't get enough iron. Cumin is very dense in iron, providing almost 20% of your daily iron in one teaspoon.
Jeera water is anti-inflammatory and helps in digestive process, minimise gastric problems.
Using cumin as a spice increases antioxidant intake, promotes digestion, provides iron, may improve blood sugar control and may reduce food-borne illnesses.
Regards
CH Nαʋҽҽɳ Kυɱαɾ...✒️
───────────────────╮
*🙏PLZ FOLLOW#9 GOVT#4. NORMS#0, MAINT#4 SOCIAL#8 DISTANCE#0, KEEP#7 YOURSELF#5 ©YOUR#2 FAMILY#0 SAFE🌼*
*BORN TODAY* 💐🐣
Satyendranath Bose or Satyen Bose) (30 July 1882 – 21 November 1908) was an Indian Bengali revolutionary, who, along with Kanailal Dutta, was convicted by the British for assassination of Narendranath Goswami, an approver of the British, in the Jail hospital of Alipore Central Jail on 31 August 1908.
Satyendra Nath Bosu was hanged till death on 21 November 1908
🛕 *VEDIK GYAN*
*In Ramayana*
*Bali* , the king of Kishkindha, was the elder brother of Sugreev. He was a son of Indra who had given him a celestial necklace. It was a necklace with special properties for, after wearing it, if Bali battled with anyone, half the strength of his opponent would be transferred to him.
*Sugreev wife* name was *Ruma or Roma*
*Bali wife* name was *Tara*
*Bali* was invincible during Treta Yuga. Nali defeated some of the greatest warriors like Ravana. Bali was blessed with the ability to obtain half the strength of his opponent. Hence, Rama killed Bali by hiding behind the trees.
After Bali's death, Sugriva reclaimed the vanara kingdom, took back his wife, *Rumā* and took over Bali's main wife, *Tara* , who became empress and her son by Bali, Angada, who became crown prince.
🧬 *HEALTH CARE: HOME REMEDIES*🩺
( *Note* : These home tips followed in villages/ancient traditions, it is up to you to use it or not🙏🏻)
*Use of Cumin seeds*
*Zeera*
1. The most common traditional use of cumin is for indigestion. Cumin also increases the release of bile from the liver. Bile helps digest fats.
2. Many people around the world don't get enough iron. Cumin is very dense in iron, providing almost 20% of your daily iron in one teaspoon.
Jeera water is anti-inflammatory and helps in digestive process, minimise gastric problems.
Using cumin as a spice increases antioxidant intake, promotes digestion, provides iron, may improve blood sugar control and may reduce food-borne illnesses.
Regards
CH Nαʋҽҽɳ Kυɱαɾ...✒️
───────────────────╮
*🙏PLZ FOLLOW#9 GOVT#4. NORMS#0, MAINT#4 SOCIAL#8 DISTANCE#0, KEEP#7 YOURSELF#5 ©YOUR#2 FAMILY#0 SAFE🌼*
World Markets
Dow + 154
Nasdaq + 16
Dax + 70
Nikkei - 376
Hangseng - 223
Sgxnifty - 62 (15750)
Brent Crude 74.65
Dow Fut - 109
Dollar Index 91.96
Dow + 154
Nasdaq + 16
Dax + 70
Nikkei - 376
Hangseng - 223
Sgxnifty - 62 (15750)
Brent Crude 74.65
Dow Fut - 109
Dollar Index 91.96
Stocks To Watch
Kotak Mahindra Bank: Shareholders will see a significant shift in Kotak Mahindra Bank Ltd.'s approach, with "greater aggression" and sharper execution, Uday Kotak said in the annual report for 2020-21. “We'll not shy away from taking bolder bets,” he added. The private lender sees this as the right time to experiment more and concentrate on segments it deems as offering the best
opportunities for returns. The bank will increase investments in strengthening its digital and technology platforms and offerings.
Privi Specialty Chemicals: Signed a joint venture agreement with Givaudan SA, the global leader in fragrance creation, to set up a new greenfield production facility in Mahad. The facility will have state of the art manufacturing equipment tailor made to manufacture small-volume fragrance ingredients of medium to high complexity, also known as specialty ingredients, the company said. Privi will hold 51% of the equity capital of the joint venture company. Mangalore Refinery and Petrochemicals: Approved raising up to Rs 5,000 crore through issue of NCDs. Enhanced borrowing powers to Rs 33,500 crore from Rs 25,000 crore.
Hindalco Industries: CRISIL Ratings has upgraded its rating on the non-convertible debentures of the company to AA+/stable from AA/positive.
R Systems International: To consider share buyback on August 6.
Earnings: Sun Pharmaceutical Industries, UPL, Britannia Industries, Indian Oil Corporation, Bandhan Bank, Bharat Heavy Electricals, Dr. Lal PathLabs, Marico, JSW Energy, Kansai Nerolac Paints, PI Industries, Cholamandalam Investment
and Finance Company, Aditya Birla Fashion and Retail, Macrotech Developers, Blue Dart Express, Exide Industries, Zydus Wellness, Equitas Small Finance Bank, Shriram Transport Finance Co., V-Guard Industries, India Grid Trust, Sunteck Realty, KEC International, Asahi India Glass, Fairchem Organics, Rossari Biotech, Finolex Industries, LT Foods, DCW, Gokaldas Exports, Gravita India, HIL, IFB Industries Indo Amines, Jindal Saw, JK Paper, Nelco, NGL Fine-Chem, NIIT, Sundaram-Clayton, Sutlej Textiles & Industries, Welspun Specialty Solutions
Kotak Mahindra Bank: Shareholders will see a significant shift in Kotak Mahindra Bank Ltd.'s approach, with "greater aggression" and sharper execution, Uday Kotak said in the annual report for 2020-21. “We'll not shy away from taking bolder bets,” he added. The private lender sees this as the right time to experiment more and concentrate on segments it deems as offering the best
opportunities for returns. The bank will increase investments in strengthening its digital and technology platforms and offerings.
Privi Specialty Chemicals: Signed a joint venture agreement with Givaudan SA, the global leader in fragrance creation, to set up a new greenfield production facility in Mahad. The facility will have state of the art manufacturing equipment tailor made to manufacture small-volume fragrance ingredients of medium to high complexity, also known as specialty ingredients, the company said. Privi will hold 51% of the equity capital of the joint venture company. Mangalore Refinery and Petrochemicals: Approved raising up to Rs 5,000 crore through issue of NCDs. Enhanced borrowing powers to Rs 33,500 crore from Rs 25,000 crore.
Hindalco Industries: CRISIL Ratings has upgraded its rating on the non-convertible debentures of the company to AA+/stable from AA/positive.
R Systems International: To consider share buyback on August 6.
Earnings: Sun Pharmaceutical Industries, UPL, Britannia Industries, Indian Oil Corporation, Bandhan Bank, Bharat Heavy Electricals, Dr. Lal PathLabs, Marico, JSW Energy, Kansai Nerolac Paints, PI Industries, Cholamandalam Investment
and Finance Company, Aditya Birla Fashion and Retail, Macrotech Developers, Blue Dart Express, Exide Industries, Zydus Wellness, Equitas Small Finance Bank, Shriram Transport Finance Co., V-Guard Industries, India Grid Trust, Sunteck Realty, KEC International, Asahi India Glass, Fairchem Organics, Rossari Biotech, Finolex Industries, LT Foods, DCW, Gokaldas Exports, Gravita India, HIL, IFB Industries Indo Amines, Jindal Saw, JK Paper, Nelco, NGL Fine-Chem, NIIT, Sundaram-Clayton, Sutlej Textiles & Industries, Welspun Specialty Solutions
Who’s Meeting Whom
Multi Commodity Exchange of India: To meet ITUS Capital on August 2, GIC Pvt Ltd on August 4 and Ward Ferry Management on August 9.
Multi Commodity Exchange of India: To meet ITUS Capital on August 2, GIC Pvt Ltd on August 4 and Ward Ferry Management on August 9.
Insider Trades
Orient Cement: Promoters (Central India Industries and Shekhavati Investments and Traders) revoked pledge of 88 lakh shares on July 26.
Orient Cement: Promoters (Central India Industries and Shekhavati Investments and Traders) revoked pledge of 88 lakh shares on July 26.
Trading Tweaks
Ex-Date Dividend: Century Enka, Nelcast, Srikalahasthi Pipes
Ex-Date Final Dividend: Hercules Hoists
Ex-Date Special Dividend: Larsen & Toubro Infotech
Record Date Final Dividend: Sobha, ICICI Bank, Delta Corp, Sudarshan Chemical Industries, Timken India, Gandhi Special Tubes, Andhra Paper
Record Date Interim Dividend: Stylam Industries
Record Date Bonus Issue: Power Grid Corporation of India
Record Date AGM: Rane Holdings
Move Into Short-Term ASM Framework: Arvind Fashions
Move Out Of Short-Term ASM Framework: RPSG Ventures
Price Band Revised From 10% To 5%: RSWM
Price Band Revised From 20% To 10%: Nitin Spinners
Ex-Date Dividend: Century Enka, Nelcast, Srikalahasthi Pipes
Ex-Date Final Dividend: Hercules Hoists
Ex-Date Special Dividend: Larsen & Toubro Infotech
Record Date Final Dividend: Sobha, ICICI Bank, Delta Corp, Sudarshan Chemical Industries, Timken India, Gandhi Special Tubes, Andhra Paper
Record Date Interim Dividend: Stylam Industries
Record Date Bonus Issue: Power Grid Corporation of India
Record Date AGM: Rane Holdings
Move Into Short-Term ASM Framework: Arvind Fashions
Move Out Of Short-Term ASM Framework: RPSG Ventures
Price Band Revised From 10% To 5%: RSWM
Price Band Revised From 20% To 10%: Nitin Spinners
Money Market Update
The rupee ended at 74.28 against the U.S. Dollar on Thursday as compared to Wednesday's closing of 74.37.
The rupee ended at 74.28 against the U.S. Dollar on Thursday as compared to Wednesday's closing of 74.37.
GM jsk stock in news upl,drlal,bhel,ashokley,Tejas,techmah,balrampur,pvr,Inox,Trent,burger,sriramtrans,clariantchem,alkemlab, jswenergy,pound,Marico,garwaretech,astral, Exide. Negative stocks ramcocem,ambujacem,ujjivan,bajajfinserv. Nifty range 15650-15880.
*Morning Action @ 7am – Friday, July 30th 2021.*
Overnight at Wall Street, the key indices were back atop the mountain with Dow and S&P scaling ‘New Highs’. The Nasdaq improved by 0.1% to 14,778, 59 points shy of its July 23 highwater mark.
In early action, SGX Nifty seen treading water taking negative leads from Asian stock markets.
*7 AM GLOBAL UPDATE:*
# SGX Nifty (-55, 15785)
# Dow (+154, 35085)
# Nasdaq (+16, 14778)
# Brazil Bovespa (-610, 125675)
# Nikkei (-333, 27446)
# Hang Seng (-272, 26043)
*MARKET TRENDS:*
# Global: Positive.
# FII: Negative (-866.26 Cr)
# DII: Positive (+2046.96 Cr)
# F&O: 15757-16007 zone
# Market Breadth: Weak
# Sentiment: Precarious
# Technicals: Negative
# Outlook: Volatile.
*All ABOUT NIFTY & BANK NIFTY:*
*NIFTY (CMP 15778):*
# SUPPORT: 15707/15513
# RESISTANCE: 15857/15963
# RANGE: 15577-15857
# BIAS: Neutral.
*BANK NIFTY (CMP 34692):*
# SUPPORT: 33849/32549
# RESISTANCE: 35267/36101
# RANGE: 34051-35251
# BIAS: Neutral.
*THEME OF THE DAY:*
Our *call of the day* the optimistic ingredients are already baked in for Nifty to scale fresh all-time-high.
*The positive catalyst:* The second quarter U.S GDP report looks to be a win-win for stocks. U.S GDP which grew by 6.5% in the second quarter, far lower than 8.6% projected. A disappointing U.S GDP data should prevent Fed tightening for longer, which is a boon for equities.
The positive takeaway for equities is that in normal days if growth missed expectations by over 2% then that would be deeply devastating for markets. However, please note that in post-pandemic times, the 6.5% annualized increase in Gross Domestic Product represents healthy growth in absolute terms.
Also, the Fed unlikely to consider tapering down its bond-buying scheme which currently stands at $120 billion/month and most importantly, is likely last for longer.
On the backdrop are helping sentiments are chatters over President Joe Biden’s infrastructures spending bill. More dollars from the U.S government imply additional support.
*Long story short:* The running of bulls will continue at Dalal Street as well. However, momentum buying likely only above Nifty 15857 mark.
*Disclaimer:* Our subscribers/clients may have positions in the stocks recommended in this note. Please note that the actual subscribers may receive additional information in real time not available to the viewers of this note.
This does not construe to be an investment advice. Stock market investments are subject to market risks. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this blog being used for actual investments.
Overnight at Wall Street, the key indices were back atop the mountain with Dow and S&P scaling ‘New Highs’. The Nasdaq improved by 0.1% to 14,778, 59 points shy of its July 23 highwater mark.
In early action, SGX Nifty seen treading water taking negative leads from Asian stock markets.
*7 AM GLOBAL UPDATE:*
# SGX Nifty (-55, 15785)
# Dow (+154, 35085)
# Nasdaq (+16, 14778)
# Brazil Bovespa (-610, 125675)
# Nikkei (-333, 27446)
# Hang Seng (-272, 26043)
*MARKET TRENDS:*
# Global: Positive.
# FII: Negative (-866.26 Cr)
# DII: Positive (+2046.96 Cr)
# F&O: 15757-16007 zone
# Market Breadth: Weak
# Sentiment: Precarious
# Technicals: Negative
# Outlook: Volatile.
*All ABOUT NIFTY & BANK NIFTY:*
*NIFTY (CMP 15778):*
# SUPPORT: 15707/15513
# RESISTANCE: 15857/15963
# RANGE: 15577-15857
# BIAS: Neutral.
*BANK NIFTY (CMP 34692):*
# SUPPORT: 33849/32549
# RESISTANCE: 35267/36101
# RANGE: 34051-35251
# BIAS: Neutral.
*THEME OF THE DAY:*
Our *call of the day* the optimistic ingredients are already baked in for Nifty to scale fresh all-time-high.
*The positive catalyst:* The second quarter U.S GDP report looks to be a win-win for stocks. U.S GDP which grew by 6.5% in the second quarter, far lower than 8.6% projected. A disappointing U.S GDP data should prevent Fed tightening for longer, which is a boon for equities.
The positive takeaway for equities is that in normal days if growth missed expectations by over 2% then that would be deeply devastating for markets. However, please note that in post-pandemic times, the 6.5% annualized increase in Gross Domestic Product represents healthy growth in absolute terms.
Also, the Fed unlikely to consider tapering down its bond-buying scheme which currently stands at $120 billion/month and most importantly, is likely last for longer.
On the backdrop are helping sentiments are chatters over President Joe Biden’s infrastructures spending bill. More dollars from the U.S government imply additional support.
*Long story short:* The running of bulls will continue at Dalal Street as well. However, momentum buying likely only above Nifty 15857 mark.
*Disclaimer:* Our subscribers/clients may have positions in the stocks recommended in this note. Please note that the actual subscribers may receive additional information in real time not available to the viewers of this note.
This does not construe to be an investment advice. Stock market investments are subject to market risks. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this blog being used for actual investments.
*Derivative Calculus @ 8am - Friday, July 30th 2021*
#Nifty August Futures ended Thursday’s session at a premium of +34.
#The 05th August expiry Put-Call Open Interest Ratio was at 0.84 for Nifty whereas it was 0.72 for Bank Nifty.
#The 05th August expiry Put-Call Volume Ratio was at 0.85 for the Nifty and 0.89 for Bank Nifty.
#For Nifty, Maximum Call Open Interest (OI) stands at 15800 Strike Price, followed by 16000 Strike Price for 05th August Series. Short covering was seen at strike prices 15500-15700.
#Maximum Put Open Interest (OI) was seen at strike price 15800 followed by 15700 strike prices for 05th August series. Short buildup was seen at strike prices 15700-16000.
#For Bank Nifty, Maximum Call Open Interest (OI) stands at 35000 Strike Price and Maximum Put Open Interest stands at 34500 Strike Price.
#As per Thursday’s provisional data available on the NSE, FIIs sold shares worth Rs. 866.26 crores in the Indian Equity Market. DIIs on the other hand bought shares worth Rs. 2046.96 crores in the Indian Equity market.
#Long Buildup: SAIL, IDFCFIRSTB, NMDC, DLF.
#Short Buildup: POWERGRID, ADANIPORTS, LICHSGFIN.
#Short Covering: BANKBARODA, NATIONALUM, SBIN, L&TFH.
#Long Unwinding: ZEEL, NTPC, PETRONET, BANDHANBANK.
#Stocks banned in F&O segment: NIL.
#New in Ban: NIL.
#Out of Ban: IDEA, SUNTV.
#Nifty August Futures ended Thursday’s session at a premium of +34.
#The 05th August expiry Put-Call Open Interest Ratio was at 0.84 for Nifty whereas it was 0.72 for Bank Nifty.
#The 05th August expiry Put-Call Volume Ratio was at 0.85 for the Nifty and 0.89 for Bank Nifty.
#For Nifty, Maximum Call Open Interest (OI) stands at 15800 Strike Price, followed by 16000 Strike Price for 05th August Series. Short covering was seen at strike prices 15500-15700.
#Maximum Put Open Interest (OI) was seen at strike price 15800 followed by 15700 strike prices for 05th August series. Short buildup was seen at strike prices 15700-16000.
#For Bank Nifty, Maximum Call Open Interest (OI) stands at 35000 Strike Price and Maximum Put Open Interest stands at 34500 Strike Price.
#As per Thursday’s provisional data available on the NSE, FIIs sold shares worth Rs. 866.26 crores in the Indian Equity Market. DIIs on the other hand bought shares worth Rs. 2046.96 crores in the Indian Equity market.
#Long Buildup: SAIL, IDFCFIRSTB, NMDC, DLF.
#Short Buildup: POWERGRID, ADANIPORTS, LICHSGFIN.
#Short Covering: BANKBARODA, NATIONALUM, SBIN, L&TFH.
#Long Unwinding: ZEEL, NTPC, PETRONET, BANDHANBANK.
#Stocks banned in F&O segment: NIL.
#New in Ban: NIL.
#Out of Ban: IDEA, SUNTV.
*Windlas Biotech IPO Details*
Issue Dates : 4 - 6 August
Issue Size : ₹ 401.53 Crore
Price Band : ₹ 448 - 460
Bid Lot Size : 30 Shares
Application Amount : ₹ 13,800
Retail Quota : 35%
Registrar - Linkintime
Number of Retail Applications : 1,01,838
Issue Dates : 4 - 6 August
Issue Size : ₹ 401.53 Crore
Price Band : ₹ 448 - 460
Bid Lot Size : 30 Shares
Application Amount : ₹ 13,800
Retail Quota : 35%
Registrar - Linkintime
Number of Retail Applications : 1,01,838
China raises export tax on certain steel products wef Aug-1 – positive for entire steel sector, Tata and JSW to benefit most:*
- Export tax on high purity pig iron increased from 15% to 20%
- Export tax on Ferrochrome at 40%
- Export tax on other steel products raise / VAT rebate cancelled (Details awaited)
*China steel production to be lower by 11% in H2CY21:*
- China has capped steel production in CY21 at CY20 rates.
- China produced 1053 mn t in CY20, H1CY21 production stood at 560mn t. This implies, that the H2 production is capped at 493 mt so as not to breach its cap of CY20 production. H2CY21 production was 552mt.
- Chinese production in H2CY21 has to reduce by 11% on yoy basis to maintain CY20 level of production.
- This implies H2 production will be down by 58mn t.
- This will leave a big hole in the world export market and china can even turn a net importer of steel in CY21.
*Implications for steel sector in India:*
- The export prices should move up significantly and bridge the gap with EU steel prices (currently there is a gap of almost $400/t between EU and Asian steel prices)
- Indian Steel producers will likely increase exports to fill this gap
- Domestic flat steel products will move up despite low demand due to steep hike in international prices
- Tata Steel will be the biggest beneficiary followed by JSW, JSP and SAIL due to their exposure to the international steel prices, product mix and RM sufficiency
- IMFA will gain due to high export tax on ferrochrome
*Arcelor Mittal results show few interesting things (apart from superb nos and debt reduction etc) which paves the way ahead for Indian steel companies to act similarly in next 6-12 months:-*
1. Arcelor announced that they would be setting up a *first zero carbon emissions steel plant in Spain by 2025* and the customer demand for green steel solutions is strong. *They also pledged 25% carbon emission reduction by 2030 which would need US$10bn capex till 2030*. _The key step to achieve decarbonization is listed as conversion from BOF route to DRI/EAF route based on natural gas and clean electricity_
2. *AM announced new buyback plan of US$2.2bn* – this is in addition to US$2.8bn that they have returned to shareholders already since Sep’20 out of which US$1.6bn has been returned since April’21. They also mentioned that base level dividends would be continued, and *buybacks would be linked to free cash flows going ahead*. _This is a significant step and this may create the culture of return of capital by metal companies globally if the current cycle elongates as the investors would look for such steps from Indian cos also_
3. By end of CY21, AM would have returned UDS$5bn to shareholders since Sep 2020 (AM Mcap as of Sep’20 was ~US$13bn) and even at current levels the Mcap is US$35bn.
4. Global steel demand forecast for CY21 raised by 300bps to ~8% for world but increased significantly by 600bps for US, 550bps for Europe and 200bps for China. Steel demand recovery led mainly by manufacturing.
The next leg of move started !!
- Export tax on high purity pig iron increased from 15% to 20%
- Export tax on Ferrochrome at 40%
- Export tax on other steel products raise / VAT rebate cancelled (Details awaited)
*China steel production to be lower by 11% in H2CY21:*
- China has capped steel production in CY21 at CY20 rates.
- China produced 1053 mn t in CY20, H1CY21 production stood at 560mn t. This implies, that the H2 production is capped at 493 mt so as not to breach its cap of CY20 production. H2CY21 production was 552mt.
- Chinese production in H2CY21 has to reduce by 11% on yoy basis to maintain CY20 level of production.
- This implies H2 production will be down by 58mn t.
- This will leave a big hole in the world export market and china can even turn a net importer of steel in CY21.
*Implications for steel sector in India:*
- The export prices should move up significantly and bridge the gap with EU steel prices (currently there is a gap of almost $400/t between EU and Asian steel prices)
- Indian Steel producers will likely increase exports to fill this gap
- Domestic flat steel products will move up despite low demand due to steep hike in international prices
- Tata Steel will be the biggest beneficiary followed by JSW, JSP and SAIL due to their exposure to the international steel prices, product mix and RM sufficiency
- IMFA will gain due to high export tax on ferrochrome
*Arcelor Mittal results show few interesting things (apart from superb nos and debt reduction etc) which paves the way ahead for Indian steel companies to act similarly in next 6-12 months:-*
1. Arcelor announced that they would be setting up a *first zero carbon emissions steel plant in Spain by 2025* and the customer demand for green steel solutions is strong. *They also pledged 25% carbon emission reduction by 2030 which would need US$10bn capex till 2030*. _The key step to achieve decarbonization is listed as conversion from BOF route to DRI/EAF route based on natural gas and clean electricity_
2. *AM announced new buyback plan of US$2.2bn* – this is in addition to US$2.8bn that they have returned to shareholders already since Sep’20 out of which US$1.6bn has been returned since April’21. They also mentioned that base level dividends would be continued, and *buybacks would be linked to free cash flows going ahead*. _This is a significant step and this may create the culture of return of capital by metal companies globally if the current cycle elongates as the investors would look for such steps from Indian cos also_
3. By end of CY21, AM would have returned UDS$5bn to shareholders since Sep 2020 (AM Mcap as of Sep’20 was ~US$13bn) and even at current levels the Mcap is US$35bn.
4. Global steel demand forecast for CY21 raised by 300bps to ~8% for world but increased significantly by 600bps for US, 550bps for Europe and 200bps for China. Steel demand recovery led mainly by manufacturing.
The next leg of move started !!