Sensex, Nifty Log Worst Week In Nearly Three Months

HDFC

• Stock rose as much as 3 percent to Rs 2,148.65.
• Revenue up 30.6 percent to Rs 12,990 crore.
• Net profit up 46.3 percent to Rs 3,203 crore.
• Calculated net interest income up 6.9 percent to Rs 2,739 core.
• Net interest margin At 3.3 percent

Tech Mahindra

• Stock rose as much as 2 percent to Rs 638.20.
• About 12.7 lakh shares changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.

KRBL

• Stock rose as much as 9.9 percent to Rs 251.
• June quarter revenue rose 64 percent year-on-year to Rs 1,218 crore driven strong export sales.

Tata Global Beverages

• Stock rose as much as 4.3 percent Rs 269.75.
• Fresh longs seen with high open interest of 20.8 percent.

Firstsource Solutions (Q1, YoY)

• Stock fell as much as 2.8 percent to Rs 48.
• Net profit at Rs 91.17 crore versus Rs 88.61 crore.
• Revenue at Rs 966.88 crore versus Rs 905.97 crore.

Inox Leisure (Q1, YoY)

• Stock rose as much as 3.6 percent to Rs 304.80.
• Revenue up 18.8 percent to Rs 493 crore
• Net profit down 27 percent to Rs 27 crore
• Ebitda up 80 percent to Rs 150.1 crore.
• Margin at 30.4 percent versus 20.1 percent.

Exide Industries (Q1, YoY)

• Stock fell as much as 2.9 percent to Rs 2,148.65.
• Revenue up 0.2 percent to Rs 2779.25 crore.
• Net profit up 7 percent to Rs 224.29 crore.
• Ebitda up 4 percent to Rs 407.7 crore.
• Margin at 14.7 percent versus 14.1 percent.

Debashis Chatterjee was named chief executive officer and managing director of Mindtree Ltd. after his predecessor quit following Larsen & Toubro Ltd.’s hostile takeover of the mid-sized information technology firm.

Chatterjee replaces Rostow Ravanan, who quit on July 5 along with then Chairman Krishnakumar Natarajan and former vice-chairman Parasarthy NS.

Read the full story here.

CARE Ratings

• Stock hit 20 percent lower circuit at Rs 486.70.
• Trading volume was almost 40 times its 20-day average.

Kirloskar Pneumatic

• Stock fell as much as 11.8 percent to Rs 153.50.
• Trading volume was 20 times its 20-day average.

JK Tyre & Industries

• Stock fell as much as 14.4 percent to Rs 60.95.
• Trading volume was 16 times its 20-day average.

TCNS Clothing

• Stock fell as much as 3.4 percent to Rs 676.20.
• Trading volume was more than 13 times its 20-day average.

Shares of HDFC rose as much as 2 percent to Rs 2,129 after the mortgage lender’s quarterly earnings surpassed estimates.

Key Earnings Highlights (Q1, YoY)

• Revenue up 30.6 percent to Rs 12,990 crore.
• Net profit up 46.3 percent to Rs 3,203 crore.
• Calculated net interest income up 6.9 percent to Rs 2,739 core.
• Net interest margin At 3.3 percent

Shares of State Bank of India fluctuated between gains and loses to trade 0.5 percent lower at Rs 315.39 after the lender announced its June quarter results.

Key Earnings Highlights (Q1, YoY)

• Net interest income up 5 percent to Rs 22,939 crore.
• Net profit at Rs 2,312 crore versus net loss of Rs 4,876 crore.
• Provisions at Rs 9,183 crore vs Rs 16,502 crore (QoQ)
• GNPA at 7.53 percent versus 7.53 percent (QoQ)
• NNPA at 3.07 percent versus 3.01 percent (QoQ)

Shares of Power Grid fell as much as 2.2 percent to Rs 209.40 after the company announced its quarterly results in the three months ended June.

Key Earnings Highlights (Q1, YoY)

• Revenue up 8.3 percent to Rs 8,804.11 crore
• Net profit up 8 percent to Rs 2,427.89 crore
• Ebitda up 14 percent to Rs 7,896.42 crore
• Margin at 89.7 percent versus 85.2 percent

• Bharti Airtel: About 12 lakh shares changed hands in a block deal.
• Tata Chemicals: About 10 lakh shares changed hands in a block deal.

Buyers and sellers were not known immediately.
Source: Bloomberg

Eicher Motors

• Stock fell as much as 2.6 percent to Rs 16,133.30.
• Sales down 22 percent year-on-year to 54,185 units versus 69,063 units.

Hero MotoCorp

• Stock fell as much as 3.4 percent to Rs 2,288.55.
• Sales down 21.2 percent year-on-year to 5.35 lakh units.

Tata Motors

• Stock fell as much as 1.9 percent to Rs 127.
• Sales fell 34 percent year-on-year to 32,938 units.

Shares of the cash-strapped airline hit the upper circuit of 5 percent at Rs 36.90.

This came on the back of a report that said four parties are interested to bid for Jet Airways. The talks for a potential bid, however, are still in early stages, Mint reported quoting a person aware of the development.

Of the shares traded, 52 percent were at the ask price and 26 percent were at the bid, according to Bloomberg data.

Nifty’s 11,000 call option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the weekly contract which is set to expire on Aug. 8 fell 41.6 percent to Rs 48.80. Over 12.8 lakh shares were added to the open interest which stood at over 24.14 lakh shares.

Tata Power (Q1, YoY)

• Stock fell as much as 3.6 percent to Rs 57.75.
• Revenue up 6.2 percent to Rs 7,766.7 crore.
• Net profit down 90.9 percent to Rs 151.3 crore versus Rs 1,670.9 crore.
• Ebitda up 29.9 percent to Rs 2302.1 crore.
• Margin at 29.6 percent versus 24.2 percent.
• Net profit before exceptional items at Rs 254 crore versus Rs 252 crore.
• Other Income up 20 percent to Rs 108 crore.
• Exceptional gain of Rs 1,897 crore in the base quarter due to gain on sale of investment in associates.

Prestige Estates Project (Q1, YoY)

• Stock fell as much as 3.3 percent to Rs 252.10.
• Revenue up 83.8 percent to Rs 1,538.7 crore.
• Net profit down 5.2 percent to Rs 115.3 crore versus Rs 121.6 crore.
• Ebitda up 2.1 times to Rs 527.7 crore.
• Margin at 34.3 percent versus 30.6 percent.
• Land cost of Rs 467.9 crore recognized in base quarter.
• Depreciation up 2.8 times to Rs 163.2 crore.
• Exceptional gain of Rs 38 crore versus Rs 89.4 crore.

GSK Consumer Healthcare (Q1, YoY)

• Stock rose as much as 0.94 percent to Rs 7,448.
• Revenue up 7.9 percent to Rs 1,194.3 crore.
• Net profit up 23.8 percent to Rs 248.1 crore versus Rs 200.4 crore.
• Ebitda up 21.8 percent to Rs 280.4.
• Margin at 23.5 percent versus 20.8 percent .

Raymond (Q1, YoY)

• Stock fell as much as 4.2 percent to Rs 611.
• Revenue up 14.7 percent to Rs 1,435.1 crore.
• Net loss at Rs 14.9 crore versus net profit of Rs 0.02 crore.
• Ebitda up 58.9 percent to Rs 109.5 crore.
• Margin at 7.6 percent versus 5.5 percent.
• Depreciation up 74 percent to Rs 81.3 crore.
• Finance cost up 40 percent to Rs 73.6 crore.
• Property development cost of Rs 57.5 crore in current quarter impacted bottomline numbers.

JK Tyre & Industries (Q1, YoY)

• Stock fell as much as 14.4 percent to Rs 60.95.
• Revenue up 5.6 percent to Rs 2,575.4 crore.
• Net profit down 73.6 percent to Rs 16.9 crore versus Rs 64.1 crore.
• Ebitda down 26.4 percent to Rs 239.6 crore versus Rs 325.5 crore.
• Margins at 9.3 percent versus 13.3 percent.
• RM as percent of sales at 66.6 percent versus 59.9 percent.

Shares of Bharti Airtel rose as much as 4.6 percent, the most since May 24, to Rs 338.90 after the company announced its quarterly results for the three months ended June.

Key Earnings Highligts (Q1, QoQ)

• Revenue up 0.7 percent to Rs 20,738 crore.
• Net loss at Rs 2,866 crore versus net profit of Rs 107 crore.
• Ebitda up 25 percent to Rs 8,289 crore.
• margin at 40 percent versus 32.2 percent.
• ARPU at Rs 129 versus Rs 123.

Here’s what analysts had to say after the company announced its quarterly results.

• Tech Mahindra: About 12.7 lakh shares changed hands in a block deal.
• Vodafone Idea: About 13.8 lakh shares changed hands in a block deal.

Buyers and sellers were not known immediately.
Source: Bloomberg

Here's a quick look at the corporate insider trades reported on Thursday.

Read: https://t.co/5znX2bszNb pic.twitter.com/mp27WurNF0

— BloombergQuint (@BloombergQuint) August 2, 2019

Trading Tweaks

• Jain Irrigation Systems to move into ASM Framework.
• Lakshmi Vilas Bank price band revised to 5 percent.

Stocks Moving Into Short-Term ASM Framework

• GTPL Hathway
• Orient Green Power
• Rane Engine Valve
• Sical Logistics
• GE T&D India
• Healthcare Global Enterprises
• JBM Auto
• LG Balakrishnan & Bros
• Bajaj Electricals
• ITD Cementation
• Muthoot Capital Services
• Magma Fincorp
• Balaji Amines
• Sasken Technologies
• Sadbhav Engineering
• Astec Lifesciences
• Gravita India
• Lakshmi Vilas Bank
• Future Consumer
• Navkar Corporation
• Shankara Building Products
• Avadh Sugar & Energy
• Khadim India
• Spencer's Retail
• Yuken India
• Coffee Day Enterprises

Stocks Moving Out Of Short-Term ASM Framework

• Jindal Worldwide
• Arshiya
• Pokarna
• HT Media
• LT Foods
• S Chand And Company
• Hubtown

Tata Power (Q1, YoY)

• Revenue up 6.2 percent to Rs 7,766.7 crore.
• Net profit down 90.9 percent to Rs 151.3 crore versus Rs 1,670.9 crore.
• Ebitda up 29.9 percent to Rs 2302.1 crore.
• Margin at 29.6 percent versus 24.2 percent.
• Net profit before exceptional items at Rs 254 crore versus Rs 252 crore.
• Other Income up 20 percent to Rs 108 crore.
• exceptional gain of Rs 1,897 crore in the base quarter due to gain on sale of investment in associates.

Prestige Estates Project (Q1, YoY)

• Revenue up 83.8 percent to Rs 1,538.7 crore.
• Net profit down 5.2 percent to Rs 115.3 crore versus Rs 121.6 crore.
• Ebitda up 2.1 times to Rs 527.7 crore.
• Margin at 34.3 percent versus 30.6 percent.
• Land cost of Rs 467.9 crore recognized in base quarter.
• Depreciation up 2.8 times to Rs 163.2 crore.
• Exceptional gain of Rs 38 crore versus Rs 89.4 crore.

GSK Consumer Healthcare (Q1, YoY)

• Revenue up 7.9 percent to Rs 1,194.3 crore.
• Net profit up 23.8 percent to Rs 248.1 crore versus Rs 200.4 crore.
• Ebitda up 21.8 percent to Rs 280.4.
• Margin at 23.5 percent versus 20.8 percent .

Raymond (Q1, YoY)

• Revenue up 14.7 percent to Rs 1,435.1 crore.
• Net loss at Rs 14.9 crore versus net profit of Rs 0.02 crore.
• Ebitda up 58.9 percent to Rs 109.5 crore.
• Margin at 7.6 percent versus 5.5 percent.
• Depreciation up 74 percent to Rs 81.3 crore.
• Finance cost up 40 percent to Rs 73.6 crore.
• Property development cost of Rs 57.5 crore in current quarter impacted bottomline numbers.

JK Tyre & Industries (Q1, YoY)

• Revenue up 5.6 percent to Rs 2,575.4 crore.
• Net profit down 73.6 percent to Rs 16.9 crore versus Rs 64.1 crore.
• Ebitda down 26.4 percent to Rs 239.6 crore versus Rs 325.5 crore.
• Margins at 9.3 percent versus 13.3 percent.
• RM as percent of sales at 66.6 percent versus 59.9 percent.

• Eicher Motors sales down 22 percent to 54,185 units versus 69,063 units.
• Hero MotoCorp sales down 21.2 percent to 5.35 lakh units.
• Tata Motors sales fell 34 percent year-on-year to 32,938 units

• Talwalkars Better Value Fitness defaulted in the payment of term loan’s interest aggregating to Rs 94 lakh which was due on July 31.
• Talwalkars Healthclubs defaulted in payment of loan interest worth Rs 2.5 crore which was due on July 31.
• Coal India’s July production fell 5.1 percent to 38.5 million tonnes. July offtake declined 2.9 percent to 46.82 million tonnes.
• Power Grid Corporation of India was declared successful bidder to establish two transmission projects in Gujarat, Rajasthan, Haryana and Delhi.
• Dishman Carbogen Amcis’ manufacturing site in Switzerland received zero form 483 observations from the U.S. FDA’s pre-approval inspection. This facility develops and manufactures highly potent compounds.
• Adani Transmission received two Letter of Intent for Centre Sector Transmission projects in Rajasthan and Gujarat. On a combined basis both projects add 772 ckt kilometers of transmission lines and a 3,000 MVA transformation capacity.
• Dewan Housing Finance defaulted on two NCDs interest worth Rs 35 lakh which were due on July 31 and Aug. 1.
• Bank of India: RBI levied penalty of Rs 1.5 crore on the bank for non-compliance with the RBI guidelines on frauds in Rotomac Group case.
• Allahabad Bank: RBI levied penalty of Rs 2 crore on the bank for non-compliance of rules.
• Oriental Bank of Commerce RBI levied penalty of Rs 1 crore on the bank.
• JK Tyres & Industries’ board approved acquiring 26 percent stake in Treel Mobility Solution for Rs 6 crore. The company stated that the acquisition will help in synergizing the sensors business with Tyre business as a value-added product offering to its customers.
• Tata Motors to cut prices of its Electronic Vehicle segment by up to Rs 80,000 from August, according to Bloomberg report.
• Quess Corp promoter company HWIC Asia Fund acquired 2.56 lakh shares on July 31.
• NALCO entered into a JV with Hindustan Copper and Mineral Exploration Corporation to develop strategic minerals overseas for supply to India for meeting domestic requirements and for sale to any other countries for commercial use.
• PSP Projects received project orders worth Rs 86.2 crore for institutional projects. The company has received work orders worth Rs 848.85 crore so far in the current financial year.
• Lakshmi Vilas Bank said that it has no exposure to Coffee Day Group.
• Vodafone Idea founder group IGH Holdings increased stake to 1.3 percent in the company.
• Dhunseri Tea and Industries entered into binding agreement with Tata Global Beverages for the sale of its branded business. In April, both parties had entered into a non-binding term sheet for the same transaction.
• SRF has signed a sale agreement of its engineering plastics business to DSM India with effect from Aug. 1.
• Bajaj Electricals: CARE Ratings downgraded credit rating of commercial paper worth Rs 500 crore from A1+ to A1 due to moderation in liquidity profile marked by large accumulation of receivables under engineering procurement commissioning division.

• Trump’s tariff salvo roiled financial markets.
• The ten-year Treasury yields plunged to the lowest since 2016 as U.S. President Donald Trump said he would slap a 10 percent tariff on $300 billion in Chinese imports, and as traders slashed their inflation outlook.
• Oil held the steepest one-day drop in more than four years. While the Brent crude edged higher early Friday, prices are still far from recovering the 7.9 percent slump on Thursday, the most since February 2015.
• Asian stocks declined along with U.S. futures.

Catch all the global markets update here.