14 Aug 2023

Indian Market updates - 14th Aug

FII/FPI & DII Activity

DII $9.1 Other Other
FII/FPI $9.1 Other Other

Stocks in F&O ban

No stocks are under the F&O ban for Tuesday, May 31.

Factors To Watch

IST Who's meeting whom
8:30 am Aurobindo Pharma management at 4Q earnings call.
8:30 am Government to release January-March and FY22 GDP data.


India's Jan-March GDP growth seen at one-year low on weak consumption
Soaring prices and the subsequent hit to consumer spending and investments are likely to further dampen India's economy, as the central bank faces a finely balanced struggle to tame inflation via rate hikes without hurting economic growth, economists said.

POLL-Indian home prices to accelerate again despite higher rates
Indian house prices are set to accelerate this year to a pace not seen in half a decade, according to a Reuters poll of property analysts who also warned that higher interest rates will crimp affordability, especially for first-time buyers.

India's imports of cheap Russian crude surge since Ukraine invasion
India has received 34 million barrels of discounted Russian oil since Moscow invaded Ukraine on Feb. 24, according to Refinitiv Eikon data, more than trebling the value of total imports from Russia, including other products, compared with the same period of 2021.


EU bans most Russian oil; Zelenskiy calls Donbas situation 'extremely difficult'
European Union leaders agreed on Monday to ban most imports of Russian oil to the 27-nation bloc as Ukrainian and Russian forces battled on the outskirts of Sievierodonetsk, the last city still held by Kyiv in Ukraine's strategic Luhansk province.

China's factory activity falls at slower pace as COVID curbs ease
China's factory activity contracted at a slower pace in May as COVID-19 curbs in major manufacturing hubs were relaxed, but movement controls still depressed domestic demand, restrained production and weighed on the economy in the second quarter.

Japan's April factory output slumps in worrying sign for economy
Japan's factories posted a sharp fall in output in April as China's COVID-19 lockdowns and wider supply disruptions took a heavy toll on manufacturers, clouding the outlook for the trade-reliant economy.


SGX Nifty nearest-month futures were trading 0.3% lower at 16,602. -NewsRise

The Indian rupee is expected to decline against the dollar today as higher Treasury yields and crude oil prices prompted broad losses on Asian currencies. -NewsRise

Indian federal government bond yields will likely inch up in the early trade as oil prices continue to rise, while investors await growth data for January-March quarter and last fiscal year. The yield on the benchmark 6.54% bond maturing in 2032 is likely to trade in 7.39%-7.45% today. -NewsRise

Stocks wobbled and bonds fell in Asia, while the dollar rose after a hot inflation reading in Germany heightened nerves about the pace and scale of looming interest rate hikes.

The euro gave back some of its recent gains, but was still set for its best month in a year as markets reposition in anticipation of interest rate increases in Europe and the possibility of a slower pace of U.S. rate hikes.

U.S. treasuries slumped on return from Monday's U.S. holiday, sending the yield of the 10-year bond up.

Oil prices rose after EU agreed to slash oil imports from Russia by the end of 2022, fuelling worries of a tighter market already strained for supply amid rising demand ahead of peak U.S. and European summer driving season.

Gold prices dropped as a higher dollar and rising U.S. Treasury yields weighed on demand for greenback-priced bullion, which is set for a second straight monthly loss for the first time since March 2021.

Stocks In Focus

Ticker Reason
LIC: State-run insurance giant Life Insurance Corporation (LIC) of India has reported a net profit of Rs 2,371.55 for the January-March quarter of the financial year 2021-22, down 18 per cent compared to the net profit of Rs 2,893 crore in the corresponding period of the previous fiscal.
Delhivery: The logistics company on Monday reported marginal rise in net loss at Rs 120 crore for the fourth quarter ended March 31, 2022. The company had posted a loss of Rs 118 crore in the year-ago period.
Vodafone Idea: American retail major Amazon and a clutch of investors are in talks with Aditya Birla Group to invest up to Rs 20,000 crore in the latter’s struggling wireless telephone company, Vodafone Idea. The proceeds of the sale will be used to bid for the upcoming 5G auction of spectrum and capital expenditure for the roll-out of services by year-end, banking sources told Business Standard.
Tata Motors: The company’s subsidiary Tata Passenger Electric Mobility Ltd (TPEML) on Monday signed a tripartite memorandum of understanding (MoU) with Ford India Pvt Ltd (FIPL) and the Government of Gujarat for taking over Ford’s passenger vehicle-manufacturing plant in Sanand. This will help Tata Motors accelerate the enhancement of its capacity to make personal vehicles (PVs) and electric vehicles (EVs).
SpiceJet: The Directorate General of Civil Aviation (DGCA) on Monday imposed a Rs 10-lakh fine on the airline for training 737 Max aircraft’s pilots on a faulty simulator. Earlier, the DGCA had barred 90 SpiceJet pilots from flying B737 Max aircraft. The pilots will have to be retrained, the regulator had ordered.
M&M: Mahindra and Mahindra will incur a capital expenditure of Rs 15,300 crore in the auto, farm equipment, and electric vehicle (EV) businesses over 2022-24, the firm said. Of this, it has already pumped in Rs 3,200 crore in FY22, while the remaining Rs 12,100 crore will be done during FY23 and FY24. This is significantly higher than the capex done by the company in the recent past.
Sun Pharma: Drug major Sun Pharmaceutical Industries posted a net loss of Rs 2,277 crore for the fourth quarter of the financial year 2021-22 on account of settlement charges of pending litigations in the US, restructuring operations in some countries. The consolidated sales from operations came at Rs 9,386.1 crore, an 11 per cent year-on-year rise.
Jindal Steel and Power: The company Q4 profit rose 3.2 per cent YoY to Rs 2,207 crore, its while revenue increased by 35 per cent to Rs 14,339.5 crore.
Campus Activewear: The fashion and footwear brand reported a whopping 296 per cent year-on-year growth in consolidated profit at Rs 39.60 crore for the quarter ended March 2022, driven by operating income and topline, and lower tax cost. Revenue grew by 28 per cent to Rs 352.3 crore during the same period.
PC Jeweller: The company has posted a loss of Rs 173 crore in the March 2022 quarter against a profit of Rs 60 crore in the same period last year. Revenue from operations fell sharply to Rs 189 crore in Q4FY22, compared to Rs 868 crore in the corresponding period last year.
Wockhardt: The pharma company posted loss of Rs 311 crore in the quarter ended March 2022, widened from loss of Rs 107 crore in the same period last year. Revenue grew marginally to Rs 655 crore during the quarter, up from Rs 632 crore in the same quarter last year.
IRCTC: The company has recorded a 106 per cent year-on-year growth in profit at Rs 213.8 crore in the quarter ended March 2022 aided by strong topline and operating performance. Revenue surged 104 per cent to Rs 691 crore compared to the same period last year.
Dilip Buildcon: The company has posted a loss of Rs 41.09 crore for the March 2022 quarter against profit of Rs 186.2 crore in the corresponding period last year. Revenue declined 15 per cent YoY to Rs 2,663.7 crore in Q4FY22.
Lemon Tree Hotels: The company has signed a licence agreement for a 40-room hotel at Chirang, Assam under its brand 'Keys Select, by Lemon Tree Hotels'. The hotel is expected to be operational by June 2026. Subsidiary Carnation Hotels will be operating this hotel.
NBCC (India): The firm recorded a 52 per cent on-year fall in profit at Rs 41.1 crore in quarter ended March 2022, impacted by lower topline and exceptional loss. Revenue declined 11.3 per cent to Rs 2,441 crore during the same period.
KNR Constructions: The infrastructure company reported a 49 per cent on-year growth in profit at Rs 141 crore in Q4FY22. Revenue grew 11.3 per cent to Rs 1,102 crore compared to same period last year.
GR Infraprojects: The company said that it has entered into a share purchase agreement with REC Power Development and Consultancy (RECPDCL) for acquisition of 100 per cent equity shares of Rajgarh Transmission, a wholly-owned subsidiary of RECPDCL. The acquisition cost is Rs 5.53 crore.

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