Asian shares are set to decline after a mixed US jobs report and a reversal of gains on Wall Street that saw the S&P 500 lose a near 1% gain.
Futures for benchmarks in Japan, Australia and Hong Kong slid, as did an index of US-listed Chinese stocks.
Brent crude was trading at $86.41 a barrel and West Texas Intermediate was above $80-mark. The yield on the 10-year U.S. bond was trading at 4.03% and Bitcoin was below 30,000-level.
At 5:09 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index's performance in India was trading 0.22% higher at 19,602.5
India's benchmark stock indices snapped a three-day losing streak and closed higher, led by HDFC Bank Ltd., Reliance Industries Ltd., and Infosys Ltd., on Friday.
The S&P BSE Sensex closed 480.57 points, or 0.74%, higher at 65,721.25, while the NSE Nifty 50 advanced 135.35 points, or 0.7%, to end at 19,517.
The information and technology and telecommunications sectors advanced, while utilities and auto were under pressure.
The broader indices underperformed the benchmark indices, with the S&P BSE Midcap closing 0.65% higher and the S&P BSE SmallCap ending 0.66% higher.
Overseas investors in Indian equities remained net sellers on Friday for the seventh session in a row. Foreign portfolio investors offloaded stocks worth Rs 556.32 crore, while domestic institutional investors remained net buyers for the second day and mopped up stocks worth Rs 366.61 crore, according to data from the National Stock Exchange.
The local currency weakened 11 paise to close at Rs 82.84 against the U.S. dollar on Friday.
The yield on the 10-year bond closed flat at 7.19% on Friday.
Stocks To Watch
NDTV: The company received the government's permission to uplink and downlink four news channels—NDTV Rajasthan, NDTV Madhya Pradesh/Chhattisgarh, NDTV Gujarati, and NDTV Marathi.
Adani Enterprises: The company's unit, Adani Digital Labs, has acquired a 70.19% stake in Stark Enterprises, popularly known as Trainman, for Rs 6.8 crore. The company had previously acquired a 29.81% stake in July.
AIA Engineering: The company will acquire a 30% stake in Australia's MPS for A$7.86 million via a share purchase agreement and shareholders' agreement. The acquisition will happen via UAE-based Vega Industries, the company's wholly owned subsidiary. The unit has the option to acquire a 40% stake in Vega MPS, a new company created by MPS promoters, over the next three years.
Brookfield India REIT: The company will garner Rs 400 crore by issuing units to sponsor group entity Project Diamond Holdings on a preferential basis and also plans to raise up to Rs 750 crore through the issue of commercial papers to finance the acquisition of two commercial assets in Gurugram and Mumbai.
Adani Wilmar, KRBL, and LT Foods: The Central government is considering all options, including a reduction in import duty, to contain the rise in wheat prices, Food Secretary Sanjeev Chopra said.
Divgi TorqTransfer Systems: The company won an order of Rs 180 crore from an overseas customer to supply components for their OE Programme. The production will commence in Q4 of FY24.
Ami Organics: The board has approved the issuance of up to 4,43,500 equity shares by way of preferential issue on a private placement basis to raise Rs 51.84 crore. The issue price was fixed at Rs 1169.
ABB India: The company will consider a special dividend at its Aug. 11 board meeting.
Dr. Reddy's Laboratories: The USFDA issued an Establishment Inspection Report after inspecting its Hyderabad plant. The inspection result was classified as Voluntary Action Indicated.
Aurobindo Pharma: The drugmaker got zero observations and a classification of No Action Indicated from the USFDA inspection at the Telangana plant.
Kotak Mahindra Bank: The Bank was fined Rs 10 lakh by NSE Clearing for failure to upload the securities pay-in details of clients within the prescribed timeline. The Bank cited an operational delay due to heavy rains in Mumbai as the reason for the lapse.
Welspun Corp.: The board appointed Aneesh Misra as a non-executive, non-independent director.
Delhivery: The board appointed Anindya Ghose as an independent director for a term of five years.
CE Info Systems: The board has re-appointed and paid remuneration to Rohan Verma as a whole-time director for a period of five years, with effect from April 1, 2024.
Results Announced Post Market Hours
Britannia Q1 FY24 (Consolidated, YoY)
Revenue is up 8% at Rs 4010.7 crore vs. Rs 3700.96 crore (Bloomberg Estimate: Rs 4103.87 crore).
Net profit is up 36%, at Rs 455.45 crore vs. Rs 335.74 crore (Bloomberg Estimate: Rs 513.08 crore).
Ebitda is up 38% at Rs 688.88 crore vs. Rs 500.74 crore (Bloomberg Estimate: Rs 743.52 crore).
Margins at 17.2% vs. 13.5% (Bloomberg Estimate: 18.1%)
Bharat Heavy Electricals Q1FY24 (consolidated, YoY)
Revenues are up 8.29% at Rs 4818.37 crore vs. Rs 4449.49 crore. (Bloomberg Estimate: Rs 5,164.90 crore)
Net loss of Rs 343.89 crore vs. net profit of Rs 187.99 crore (Bloomberg Estimate: Net loss of Rs 149.60 crore)
Ebitda loss of Rs 539.15 crore vs. loss of Rs 392.44 crore (Bloomberg Estimate: Loss of Rs 92.70 crore)
Aditya Birla Fashion and Retail Q1FY2024 (Consolidated, YoY)
Revenues are up 11.17% at Rs 3,196.06 crore vs. Rs 2,874.76 crore.
Net loss of Rs 141.43 crore vs. Net profit of Rs 99.81 crore
Ebitda is down 37.59% at Rs 292.33 crore vs. Rs 468.45 crore.
Margins at 9.14% vs. 16.29%
Tatva Chintan Pharma Chem Q1FY24 (Consolidated, YoY)
Revenues are up 29.29% at Rs 114.3 crore vs. Rs 88.4 crore (Bloomberg Estimate: Rs 130.27 crore).
Net profit is down 2.061% at Rs 9.5 crore vs. Rs 9.7 crore (Bloomberg Estimate: Rs 10.3 crore).
Ebitda is up 40.13% at Rs 21.3 crore vs. Rs 15.2 crore (Bloomberg Estimate: Rs 17.57 crore).
Margins at 18.63% vs. 17.19% (Bloomberg Estimate: 13.49%)
Mold-Tek Packaging Q1FY24 (Consolidated, YoY)
Revenues were down 10.55% at Rs 185.91 crore vs. Rs 207.84 crore.
Net profit is down 13.73% at Rs 18.73 crore vs. Rs 21.71 crore.
Ebitda is down 5.73% at Rs 35.04 crore vs. Rs 37.17 crore.
Margins at 18.85% vs. 17.88%
PG Electroplast Q1FY24 (Consolidated, YoY)
Revenues are down 25.93% at Rs 307.1 crore vs. Rs 414.62 crore.
Net profit is up 46.32% at Rs 12.32 crore vs. Rs 8.42 crore.
Ebitda is up 26.90% at Rs 25.71 crore vs. Rs 20.26 crore.
Margins at 8.37% vs. 4.88%
C.E. Infosystems Q1FY24 (Consolidated, YoY)
Revenues are up 37.53% at Rs 89.41 crore vs. Rs 65.01 crore. (Bloomberg Estimate: Rs 82.60 crore)
Net profit is up 32.23% at Rs 32 crore vs. Rs 24.2 crore. (Bloomberg Estimate: Rs 28.60 crore)
Ebitda is up 25.33% at Rs 37.46 crore vs. Rs 29.89 crore. (Bloomberg Estimate: Rs 31 crore)
Margins at 41.9% vs. 45.98% (Bloomberg Estimate: 37.53%)
Delhivery Q1FY24 (Consolidated, YoY)
Revenues are up 10.54% at Rs 1,929.78 crore vs. Rs 1,745.74 crore.
Net loss of Rs 894.8 crore vs. loss of Rs 3,993.4 crore
Ebitda loss of Rs 13.01 crore vs. loss of Rs 254.05 crore
Authum Investment & Infrastructure Q1FY24 (Consolidated, YoY)
Revenues are down 70.45% at Rs 159.22 crore vs. Rs 538.76 crore.
Net profit is down 95.47% at Rs 194.63 crore vs. Rs 4304.02 crore.
Ebitda is down 57.34% at Rs 150.32 crore vs. Rs 352.36 crore.
Margins at 94.41% vs. 65.40%
IDFC Q1FY24 (Consolidated, YoY)
Net profit is up 61% at Rs 765 crore vs. Rs 474 crore.
Net Interest income is up 36% at Rs 3,745 crore vs. Rs 2,751 crore.
GNPA at 2.17% vs. 3.36%
NNPA at 0.70% vs. 1.30%
Loans and advances are up 25% at Rs 1,71,578 crore vs. Rs 1,37,663 crore.
Capital Adequacy at 16.96% vs. 15.77%.
Repco Home Finance Q1FY24 (Consolidated, YoY)
Revenues are up 20.56% at Rs 364.48 crore vs. Rs 302.32 crore.
Net profit is up 43.53% at Rs 89.09 crore vs. Rs 62.07 crore.
Ebitda is up 30.33% at Rs 324.36 crore vs. Rs 248.87 crore.
Margins at 88.99% vs. 82.32%
Rain Industries Q1FY24 (Consolidated, YoY)
Revenues were down 16.48% at Rs 4,627.2 crore vs. Rs 5,540.5 crore.
Net profit is down 70.81% at Rs 206.5 crore vs. Rs 707.6 crore.
Ebitda is down 46.34% at Rs 645.2 crore vs. Rs 1,202.4 crore.
Margins at 13.94% vs. 21.70%
Shipping Corporation Of India Q1FY24 (Consolidated, YoY)
Revenues were down 17.92% at Rs 1,200.11 crore vs. Rs 1,462.2 crore.
Net profit is up 57.12% at Rs 171.61 crore vs. Rs 109.23 crore.
Ebitda is up 21.43% at Rs 362.95 crore vs. Rs 298.89 crore.
Margins at 30.24% vs. 20.44%
Tata Investment Q1FY24 (Consolidated, YoY)
Revenues are up 394.29% at Rs 151.6 crore vs. Rs 30.67 crore.
Net profit is up 642.04% at Rs 147.74 crore vs. Rs 19.91 crore.
Ebitda is up 539.55% at Rs 142.94 crore vs. Rs 22.35 crore.
Margins at 94.29% vs. 72.87%
Fortis Healthcare Q1FY2024 (Consolidated, YoY)
Revenue is up 11% at Rs 1,657.41 crore vs. Rs 1,487.85 crore.
Net profit was down 8% to Rs 123.95 crore vs. Rs 134.31 crore.
Ebitda is up 9% at Rs 272.46 crore vs. Rs 251.10 crore.
Ebitda margin at 16.4% vs. 16.9%
Earnings In Focus
Alkyl Amines Chemicals, Bayer Cropscience, Caplin Point Laboratories, Emami, Eris Lifesciences, Gland Pharma, Gujarat Narmada Valley Fertilisers & Chemicals, Godrej Consumer Products, HLE Glascoat, Indigo Paints, Jindal Worldwide, Jupiter Wagons, Krishna Institute Of Medical Sciences, Max Healthcare Institute, Medplus Health Services, Olectra Greentech, Paras Defence And Space Technologies, Pb Fintech, Poly Medicure, Rainbow Children's Medicare, Ramco Cements, Restaurant Brands Asia, Sobha, Sun Pharma Advanced Research, Tata Chemicals, Torrent Pharmaceuticals, and Whirlpool Of India.
IPO Offerings
SBFC Finance: The initial public offering was subscribed to 7.09 times on the second day. The bids were led by non-institutional investors, who subscribed 12.95 times, and retail investors, who subscribed 4.93 times. The portion reserved for employees was subscribed to 2.44 times, and institutional investors subscribed 6.71 times.
Concord Biotech: The initial public offering was subscribed 0.58 times, or 58%, on the first day. The bids were led by the portion reserved for employees, which was subscribed 5.73 times, and non-institutional investors, which were subscribed 1.01 times. Retail investors subscribed 0.72 times, or 72%, and institutional investors subscribed only 0.01 times, or 1%.
Who's Meeting Whom?
Mastek: To meet investors and analysts on Aug.8 and Aug 9.
Jindal Stainless: To meet investors and analysts on Aug 9.
Navin Fluorine International: To meet investors and analysts on Aug 10.
AGMs Today
Brigade Enterprises, Computer Age Management Services, EIH Associated Hotels, Fairchem Organics, Godrej Consumer Products, Indigo Paints, Jindal Worldwide, Restaurant Brands Asia, Sun Pharma Advanced Research Company, Torrent Pharma, Voltamp Transformers, and VRL Logistics
Bulk Deals
Radiant Cash Management Services: Societe Generale sold 19.6 lakh shares (1.8%) at Rs 105.27 apiece, and Jainam Broking bought 13.3 lakh shares (1.2%) at Rs 105.13 apiece.
Pledge Share Details
Emami: Promoter Suraj Finvest revoked a pledge of 12.4 lakh shares on Aug. 2.
Insider Trades
LG Balakrishnan and Bros: Promoter Vijayshree Vijayakumar sold 15,765 shares between August 2 and 3.
Ultramarine and Pigments: Promoter S. Narayanan sold 2,000 shares between August 2 and 3.
Trading Tweaks
Price Band Revised From 5% To 10%: PTC Industries, NDTV, Adani Total Gas, Apollo Micro Systems
Price Band Revised From 5% To 20%: Mazagon Dock Shipbuilders
Price Band Revised From 10% To 20%: Adani Green Energy, Adani Transmission, Black Box, Clean Science and Technology, GRM Overseas, Vedant Fashions, Steel Exchange of India, Xchanging Solutions, and Tega Industries
Price Band Revised From 20% To 10%: Dynamic Cables
Ex-date Dividend: Navneet Education, Gabriel India, Karur Vysya Bank, Saksoft
Ex-date Interim Dividend: RITES
Ex-date AGM: Navneet Education, Gabriel India, Saksoft, Wockhardt
Record-date Interim Dividend: RITES.
Move Into Short-Term ASM Framework: Indiabulls Housing Finance, Kamdhenu Ventures, MPS.
Move Out Of Short-Term ASM Framework: Cosco, Jupiter Wagons, Jyothy Labs, Oriental Aromatics
F&O Cues
Nifty August futures ended at 19,573.20, a premium of 105.05 points.
Nifty August futures rose 3.70%, with 8,143 shares in open interest.
Nifty Bank August futures ended at 44,970.00, a premium of 248 points.
Nifty Bank August futures fell 3.02% with 3,611 shares in open interest.
Securities in the ban period: Piramal Enterprises, Hindustan Copper, Gujarat Narmada Valley Fertilisers and Chemicals, Indianbulls Housing Finance
Money Market Update
The Indian rupee closed 0.13% higher at 82.84 against the U.S. dollar on Friday.
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