*indian gold import scenario*

gold imports by india jumped to the highest in three months in july as economic activity picked up after a deadly coronavirus wave abated, and prices in the second-biggest consumer softened.

*inbound shipments surged 71% from a year earlier to 43.6 tons last month*, according to a person familiar with the data, who asked not to be identified as the information isn’t public.

*that’s the biggest inflow since 70.3 tons in april.*

indian states have slowly removed many restrictions on businesses and the movement of people as virus cases receded after peaking in may.

the increased footfalls at stores and a nearly 5% fall in local prices this year has also revived sales.

*india’s gold demand is expected to be stronger in the second half of 2021 compared with the prior six months due to softer prices and more occasions such as festivals and weddings,* when jewelry is traditionally bought, p.r. somasundaram, regional chief executive officer for india at the world gold council, said last week.

*Escorts Ltd.* | *CMP* Rs. 1230 | *M Cap* Rs. 16800 Cr | *52 W H/L* 1465/1075
(Nirmal Bang Retail Research)
No. of Vehicles Sold 25935 vs QoQ 32588,YoY 18150
*Result marginally ahead of Expectation*
Revenue from Operations came at Rs. 1671.5 Cr (-24.4% QoQ, 57.4% YoY) vs expectation of Rs. 1623.6 Cr, QoQ Rs. 2210.5 Cr, YoY Rs. 1061.6 Cr
EBIDTA came at Rs. 233.2 Cr (-32.3% QoQ, 95% YoY) vs expectation of Rs. 208.3 Cr, QoQ Rs. 344.7 Cr, YoY Rs. 119.6 Cr
EBITDA Margin came at 14% vs expectation of 12.8%, QoQ 15.6%, YoY 11.3%
Adj. PAT came at Rs. 185.2 Cr vs expectation of Rs. 169.8 Cr, QoQ Rs. 271.3 Cr, YoY Rs. 92.2 Cr
Quarter EPS is Rs. 13.7
Share is trading at P/E of 15.1x FY22E EPS

*Johnson Controls - Hitachi Air Conditioning India Ltd.* | *CMP* Rs. 2290 | *M Cap* Rs. 6228 Cr | *52 W H/L* 2940/1980
(Nirmal Bang Retail Research)
*Result is declining*
Revenue from Operations came at Rs. 492 Cr (-15.1% QoQ, 82.5% YoY) vs QoQ Rs. 579.4 Cr, YoY Rs. 269.6 Cr
EBIDTA came at Rs. 4.7 Cr (-93.9% QoQ, -121.4% YoY) vs QoQ Rs. 77.4 Cr, YoY Rs. -22.1 Cr
EBITDA Margin came at 1% vs QoQ 13.4%, YoY -8.2%
Adj. PAT came at Rs. -10.9 Cr vs QoQ Rs. 44.4 Cr, YoY Rs. -30.2 Cr
Quarter EPS is Rs. -4

BHARTI AIRTEL: CO PARTNERS WITH GOOGLE CLOUD AND CISCO TO LAUNCH ‘AIRTEL OFFICE INTERNET’

*Gail (India) Ltd.* | *CMP* Rs. 144 | *M Cap* Rs. 63942 Cr | *52 W H/L* 170/81
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 17383.9 Cr (11.8% QoQ, 43.8% YoY) vs expectation of Rs. 16189.1 Cr, QoQ Rs. 15546.2 Cr, YoY Rs. 12086.9 Cr
EBIDTA came at Rs. 2411.3 Cr (-6% QoQ, 287.3% YoY) vs expectation of Rs. 2585 Cr, QoQ Rs. 2564.8 Cr, YoY Rs. 622.6 Cr
EBITDA Margin came at 13.9% vs expectation of 16%, QoQ 16.5%, YoY 5.2%
Adj. PAT came at Rs. 1529.9 Cr vs expectation of Rs. 1756.2 Cr, QoQ Rs. 1907.7 Cr, YoY Rs. 255.5 Cr
Quarter EPS is Rs. 3.4
Share is trading at P/E of 8.5x FY22E EPS

*Adani Transmission Ltd.* | *CMP* Rs. 940 | *M Cap* Rs. 103382 Cr | *52 W H/L* 1648/230
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 2829.7 Cr (3.8% QoQ, 15.7% YoY) vs QoQ Rs. 2726.6 Cr, YoY Rs. 2446.5 Cr
EBIDTA came at Rs. 1406 Cr (36.9% QoQ, 0.8% YoY) vs QoQ Rs. 1027.2 Cr, YoY Rs. 1394.7 Cr
EBITDA Margin came at 49.7% vs QoQ 37.7%, YoY 57%
Adj. PAT came at Rs. 435.4 Cr vs QoQ Rs. 238.4 Cr, YoY Rs. 383.6 Cr
Quarter EPS is Rs. 4
Share is trading at P/E of 79.2x TTM EPS

*Birla Corporation Ltd.* | *CMP* Rs. 1400 | *M Cap* Rs. 10919 Cr | *52 W H/L* 1585/559
(Nirmal Bang Retail Research)
*Result inline with Expectation*
Revenue from Operations came at Rs. 1749.1 Cr (-18% QoQ, 43.1% YoY) vs expectation of Rs. 1737.7 Cr, QoQ Rs. 2132.6 Cr, YoY Rs. 1222 Cr
EBIDTA came at Rs. 347.6 Cr (-11.3% QoQ, 49.1% YoY) vs expectation of Rs. 334.1 Cr, QoQ Rs. 392 Cr, YoY Rs. 233.1 Cr
EBITDA Margin came at 19.9% vs expectation of 19.2%, QoQ 18.4%, YoY 19.1%
Adj. PAT came at Rs. 141.5 Cr vs expectation of Rs. 132.6 Cr, QoQ Rs. 307.2 Cr, YoY Rs. 65.8 Cr
Quarter EPS is Rs. 18.4
Share is trading at 8.3x EV/EBITDA FY23

*REC Ltd. -S* | *CMP* Rs. 157 | *M Cap* Rs. 30907 Cr | *52 W H/L* 168/92
(Nirmal Bang Retail Research)
*Result is ok* operationally improved although credit costs remain elevated
Asset quality details are awaited
NII came at Rs. 3848.7 Cr vs YoY Rs. 2910.3 Cr, QoQ Rs. 3408.3 Cr
PBP came at Rs. 3911.8 Cr vs YoY Rs. 2767.6 Cr, QoQ Rs. 3362.3 Cr
Provision came at Rs. 781.4 Cr vs YoY Rs. 198.6 Cr, QoQ Rs. 697.6 Cr
PAT came at Rs. 1997.3 Cr vs YoY Rs. 1839 Cr, QoQ Rs. 2069.6 Cr
Quarter EPS is Rs. 10.1
Share is trading at P/E of 3x FY23E EPS & 0.7x trailing P/BV

*PTC India Financial Services Ltd. -S* | *CMP* Rs. 21 | *M Cap* Rs. 1339 Cr | *52 W H/L* 24/14
(Nirmal Bang Retail Research)
*Result is ok*
Asset quality details are awaited
NII came at Rs. 79.6 Cr vs YoY Rs. 84.6 Cr, QoQ Rs. 96.5 Cr
PBP came at Rs. 79.2 Cr vs YoY Rs. 83.2 Cr, QoQ Rs. 76.4 Cr
Provision came at Rs. 18.3 Cr vs YoY Rs. 40.6 Cr, QoQ Rs. 106.9 Cr
PAT came at Rs. 45.6 Cr vs YoY Rs. 26.6 Cr, QoQ Rs. -53.7 Cr
Adj. PAT came at Rs. 46.2 Cr vs YoY Rs. 26.6 Cr, QoQ Rs. -49.5 Cr
Quarter EPS is Rs. 0.7
Share is trading at P/E of 0x FY23E EPS & 1.9x trailing P/BV

*Navkar Corporation Ltd.* | *CMP* Rs. 51 | *M Cap* Rs. 768 Cr | *52 W H/L* 55/24
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 215.8 Cr (1% QoQ, 77.6% YoY) vs QoQ Rs. 213.6 Cr, YoY Rs. 121.5 Cr
EBIDTA came at Rs. 46 Cr (12.7% QoQ, 188% YoY) vs QoQ Rs. 40.8 Cr, YoY Rs. 16 Cr
EBITDA Margin came at 21.3% vs QoQ 19.1%, YoY 13.1%
Adj. PAT came at Rs. 13.1 Cr vs QoQ Rs. 7.9 Cr, YoY Rs. -12.5 Cr
Quarter EPS is Rs. 0.9
Share is trading at P/E of 18.5x TTM EPS

UNION HEALTH MINISTER MANSUKH MANDAVIYA TODAY HELD A MEETING WITH DR SATISH REDDY, CHAIRMAN OF DR REDDY’S LAB OVER THE PRODUCTION AND SUPPLY OF SPUTNIK V COVID-19 VACCINE - ANI

Daily Market Highlights | 5th August 2021 📊

NIFTY50: ₹16,294.60 | +0.22%

Top Gainers 📈

BHARTIARTL: +3.86%
EICHERMOT: +3.45%
ITC: +3.07%
TECHM: +2.75%
TATASTEEL: +2.32%

Top Losers 📉

SBIN: -3.28%
INDUSINDBK: -2.33%
ICICIBANK: -1.84%
BAJFINANCE: -1.75%
BAJAJFINSV: -1.30%

Govt tables taxation law amendments to repeal retrospective tax

https://www.moneycontrol.com/news/business/economy/govt-introduces-taxation-laws-amendment-bill-to-nullify-retro-tax-demands-7283341.html

Download moneycontrol app: http://m.moneycontrol.com/mom

*Bajaj Consumer Care Ltd.* | *CMP* Rs. 273 | *M Cap* Rs. 4028 Cr | *52 W H/L* 324/162
(Nirmal Bang Retail Research)
*Result marginally below expectation*
Revenue from Operations came at Rs. 215.3 Cr (-12.5% QoQ, 9.8% YoY) vs expectation of Rs. 229.9 Cr, QoQ Rs. 246 Cr, YoY Rs. 196.1 Cr
EBIDTA came at Rs. 52.3 Cr (-13.9% QoQ, -8% YoY) vs expectation of Rs. 59.6 Cr, QoQ Rs. 60.8 Cr, YoY Rs. 56.9 Cr
EBITDA Margin came at 24.3% vs expectation of 25.9%, QoQ 24.7%, YoY 29%
Adj. PAT came at Rs. 48.9 Cr vs expectation of Rs. 55.7 Cr, QoQ Rs. 53.9 Cr, YoY Rs. 54.2 Cr
Quarter EPS is Rs. 3.3
Share is trading at P/E of 16.6x FY22E EPS

Taxsutra Breaking News - Govt. withdraws retrospective amendment to 'indirect transfers' made in 2012, to now apply prospectively!!! Big impact on Vodafone tax case... @Taxsutra .... hugeeee!

Breaking news:

Indian Govt suddenly withdraws Indirect transfer capital gain provisions for years prior to 2012.

This apparently is done to give benefit to Vodafone UK, which was in litigation since 15 years with Indian income tax department. Hopefully Vodafone UK will pump more money into "Idea" now....

Cairn UK will also be a beneficiary of this...

Highly positive news for Vodafone Idea and Cairn

https://www.moneycontrol.com/news/business/economy/govt-introduces-taxation-laws-amendment-bill-to-nullify-retro-tax-demands-7283341.html

Tata Chemicals reports Q1 earnings

🔸Net profit at Rs 342.1 cr Vs Rs 74.1 cr (YoY)
🔸Revenue up 26.8% at Rs 2,977.2 cr Vs Rs 2,348.2 cr (YOY)
🔸EBITDA up 67.1% at Rs 601.2 cr Vs Rs 359.7 cr (YoY)
🔸EBITDA margin at 20.2% Vs 15.3% (Yoy