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Sensex, Nifty, Stock Market Today: All You Need To Know Going Into Trade On August 3

Jul 09, 2023

Asian equity futures fell after heavy selling in U.S. stocks as investors digested data showing a hot U.S. labor market that will keep pressure on the Federal Reserve to maintain restrictive policy.

Contracts for benchmarks in Japan, Australia and Hong Kong fell. The S&P 500 declined 1.4%, its worst day since April, stemming a recent rally partly driven by investor demand for artificial intelligence stocks. That excitement appeared to abate as the Nasdaq 100 fell 2.2% and Qualcomm Inc. slid on a tepid revenue forecast in late Wednesday trading.

Meanwhile, Brent crude was trading around $83 a barrel and West Texas Intermediate was below the $80-mark. The yield on the 10-year U.S. bond was trading at 4.08% and Bitcoin was below 30,000-level.

At 5:21 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was unchanged at 19,760.

India's benchmark stock indices declined over 1% through Wednesday as global sentiment was subdued after Fitch Ratings’ downgrade of the U.S. sovereign credit grade. All sectors plunged, with PSU banking and metal stocks declining the most. The Sensex ended below the 66,000 mark and the Nifty below 19,550 for the first time since July 13.

Overseas investors in Indian equities remained net sellers on Wednesday for the fifth session in a row. Foreign portfolio investors offloaded stocks worth Rs 1,877.84 crore, while domestic institutional investors turned net sellers and sold stocks worth Rs 2.23 crore.

The local currency weakened 33 paise to close at Rs 82.59 against the U.S. dollar on Wednesday.

Unichem Laboratories: Promoter Prakash A. Mody sold a 33.4% stake for Rs 945.35 crore to Ipca Laboratories via the block deal mechanism. Ipca Laboratories has made an open offer to the company's public shareholders to acquire another 26% stake at Rs 440 apiece, aggregating to Rs 805.44 crore.

Vedanta: Twin Star Holdings is likely to sell a 4.3% stake via a block trade, seeking at least Rs 4,136 crore. The shareholder may sell 16 crore shares at a floor price of Rs 258.5 apiece, representing a discount of 5% on Wednesday's closing price.

Gujarat Gas: The company will buy a 7.87% stake in GSPC LNG for Rs 100 crore.

UltraTech Cement: The company will acquire a 26% stake in VEH Radiant Energy for Rs 15.10 crore. It has signed a share subscription and shareholder agreement as well as an energy offtake agreement with VEH Radiant Energy.

Mining companies: Both houses of Parliament have cleared the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, which opens up deep-seated minerals like lithium mining to private players.

JSW Steel: The company signed a joint-venture deal with Japan's JFE Steel to produce cold-rolled grain-oriented silicon steel. The project cost is Rs 5,500 crore and will be financed by a mix of equity and debt.

Sheela Foam: The board approved raising up to Rs 1,200 crore via Qualified Institutional Placement. It also approved raising Rs 600 crore via the private placement of non-convertible debentures.

Hindalco Industries: The company has won the bid to mine the Meenakshi West coal mine in Odisha.

NTPC: The company's subsidiary, NTPC Mining, has won the bid to mine the North Dhadu coal mine in Jharkhand.

Ramkrishna Forgings: The company has formed a joint venture with Titagarh Rail Systems to form 'Ramkrishna Titagarh Rail Wheels' for the manufacturing and supply of forged wheels.

Torrent Power: The company has incorporated its unit, Torrent Green Energy Pvt., to carry on business in the electricity generation from renewable energy industries. It has yet to commence operations.

Central Bank of India: The company appointed Dr. Bhaskar Gorugantu as the Chief Risk Officer with effect on Aug. 3 after Ashwini Kumar Shukla departed.

Asian Energy Services: The company received a Letter Of Authorisation from Gail India for the hiring of services for the acquisition of seismic data in Block RJONHP20211 in Rajasthan. The value of the LOA is Rs 16.69 crore, and the contract duration is six months.

Narayana Healthcare: Four independent directors to retire with effect from Aug. 7.

Oil India: The company's wholly owned subsidiary, Oil India International, was allowed voluntary liquidation by NCLT order.

Interglobe Aviation: The Board approved the incorporation of a limited liability partnership for Rs 7 crore, which will be completed in three years.

Titan Co. Q1 FY24 (Consolidated, YoY)

Revenue is up 26% at Rs 11,897 crore vs. Rs 9,443 crore (Bloomberg estimate: Rs 10,519.3 crore).

Net profit is down 4% to Rs 753 crore vs. Rs 785 crore (Bloomberg estimate: Rs 913.35 crore).

Ebitda declines 6% to Rs 1,125 crore vs. Rs 1,196 crore (Bloomberg estimate: Rs 1,353.4 crore).

Margin at 9.5% vs. 12.7% (Bloomberg estimate: 12.9%).

InterGlobe Aviation Q1 FY24 (Consolidated, YoY)

Revenue is up 30% at Rs 16,683 crore vs. Rs 12,855 crore (Bloomberg estimate: Rs 15,622 crore).

Ebitdar is up 679% to Rs 5,169.49 crore vs. Rs 663.89 crore (Bloomberg estimate: Rs 3,366.40 crore).

Margin at 31% vs. 5% (Bloomberg estimate: 21.55%).

Net profit of Rs 3,090.6 crore vs. a net loss of Rs 1,064.3 crore (Bloomberg estimate: Rs 1,719 crore).

Gujarat Gas Q1 FY24 (Consolidated, YoY)

Revenue is down 26% at Rs 3,923.7 crore vs. Rs 5,303.23 crore (Bloomberg estimate: Rs 3,971.67 crore).

Net profit declines 43.4% to Rs 215.95 crore vs. Rs 381.9 crore (Bloomberg estimate: Rs 304.33 crore).

Ebitda is down 36% at Rs 388 crore vs. Rs 606.6 crore (Bloomberg estimate: Rs 516.33 crore).

Margin at 9.89% vs. 11.44% (Bloomberg estimate: 13%)

Narayana Hrudalaya Q1 FY24 (Consolidated, YoY)

Revenue is up 19% at Rs 1,233 crore vs. Rs 1,033 crore (Bloomberg estimate: Rs 1,162 crore).

Net profit is up 66% at Rs 184 crore vs. Rs 111 crore (Bloomberg estimate: Rs 156 crore).

Ebitda is up 41% to Rs 271 crore from Rs 192 crore (Bloomberg estimate: Rs 253 crore).

Margin at 21.9% vs. 18.6% (Bloomberg estimate: 21.8%).

Metropolis Healthcare Q1 FY24 (Consolidated, YoY)

Revenue was down 1% at Rs 277 crore vs. Rs 280 crore (Bloomberg estimate: Rs 290 crore).

Net profit declines 14% to Rs 29 crore vs. Rs 33 crore (Bloomberg estimate: Rs 33 crore).

Ebitda is down 8% to Rs 63 crore from Rs 68 crore (Bloomberg estimate: Rs 72 crore profit).

Margin at 22.7% vs. 24.5% (Bloomberg estimate: 24.8%).

Mankind Pharma Q1 FY24 (Consolidated, YoY)

Revenue is up 18% at Rs 2,579 crore vs. Rs 2,180 crore (Bloomberg estimate: Rs 2,446 crore).

Net profit is up 66% at Rs 487 crore vs. Rs 293 crore (Bloomberg estimate: Rs 398 crore).

Ebitda is up 44% to Rs 655 crore from Rs 456 crore (Bloomberg estimate: Rs 560 crore).

Margin at 25.4% vs. 20.9% (Bloomberg estimate: 22.9%).

HPCL Q1 FY24 (Consolidated, YoY)

Revenue fell 2% to Rs 1,11,686 crore vs. Rs 1,14,127.07 crore (Bloomberg estimate: Rs 1,08,085.6 crore).

Ebitda of Rs 2,169.36 crore vs. loss of Rs 19,865.52 crore (Bloomberg estimate: Rs 10,322.4 crore profit).

Margin at 2% (Bloomberg estimate: 9.6%).

Net profit of Rs 6,765.5 crore vs. net loss of Rs 8,557.12 crore

Amrutanjan Health Care Q1 FY24 YoY

Revenue is up 10% at Rs 77.86 crore vs. Rs 70.95 crore.

Net profit is up 91% at Rs 7.01 crore vs. Rs 3.66 crore.

Ebitda is up 115% at Rs 7.15 crore vs. Rs 3.33 crore.

Ebitda margin at 9.2% vs. 4.7%

KSB Q2 FY24 (Consolidated, YoY)

Revenue is up 32% at Rs 591.3 crore vs. Rs 448.4 crore.

Net profit is up 32% at Rs 62.8 crore vs. Rs 47.4 crore.

Ebitda is up 39% at Rs 85.2 crore vs. Rs 61.1 crore.

Ebitda margin at 14.4% vs. 13.6%

Paradeep Phosphates Q1 FY24 (Consolidated, YoY)

Revenue is up 25% at Rs 3,054.33 crore vs. Rs 2,434.66 crore.

Net loss of Rs 119.94 crore vs. net profit of Rs 62.77 crore

Ebitda loss of Rs 38.56 crore vs. Ebitda of Rs 157.24 crore

Pricol Q1 FY24 (Consolidated, YoY)

Revenue is up 20% at Rs 522.10 crore vs. Rs 433.98 crore.

Net profit is up 55% at Rs 31.94 crore vs. Rs 20.59 crore.

Ebitda is up 17% at Rs 49.55 crore vs. Rs 42.47 crore.

Ebitda margin at 9.5% vs. 9.8%

Quess Corp. Q1 FY24 (Consolidated, YoY)

Revenue is up 16% to Rs 4,600 crore vs. Rs 3,979.32 crore (Bloomberg estimate: Rs 4,605.77 crore).

Net profit is down 29% at Rs 48.12 crore vs. Rs 67.70 crore (Bloomberg estimate: Rs 56.30 crore).

Ebitda at Rs 153.88 crore vs. Rs 153.34 crore (Bloomberg estimate: Rs 168.05 crore).

Ebitda margin at 3.3% vs. 3.9% (Bloomberg estimate: 3.65%).

Sheela Foam Q1 FY24 (Consolidated, YoY)

Revenue was down 8% at Rs 645.08 crore vs. Rs 700.67 crore.

Net profit is up 2% at Rs 43.32 crore vs. Rs 42.52 crore.

Ebitda is up 18% at Rs 77.62 crore vs. Rs 65.85 crore.

Ebitda margin at 12% vs. 9.4%

Vaibhav Global Q1 FY24 (Consolidated, YoY)

Revenue was up 5% at Rs 658.25 crore vs. Rs 628.27 crore.

Net profit is up 51% at Rs 29.57 crore vs. Rs 19.58 crore.

Ebitda is up 38% at Rs 58.09 crore vs. Rs 42.06 crore.

Ebitda margin at 8.8% vs. 6.7%

VIP Industries Q1 FY24 (Consolidated, YoY)

Revenue was up 8% at Rs 636.13 crore vs. Rs 590.61 crore.

Net profit is down 16% at Rs 57.75 crore vs. Rs 69.1 crore.

Ebitda is down 21% at Rs 80.6 crore vs. Rs 102.61 crore.

Ebitda margin at 12.7% vs. 17.4%

Vardhman Special Steels, Q1 FY24

Revenue was down 13% at Rs 409.35 crore vs. Rs 469.16 crore.

Net profit is down 39% at Rs 18.57 crore vs. Rs 30.30 crore.

Ebitda is down 36% at Rs 29.23 crore vs. Rs 45.70 crore.

Ebitda margin at 7.1% vs. 9.7%

Adani Enterprises, Adani Power, Bharti Airtel, Bannari Amman Sugar, Dabur India, Cummins India, Deepak Nitrite,DCX Systems, Kansai Nerolac Paints, Blue Star, Clean Science & Technology, AAVAS Financiers, Akzo Nobel India, Great Eastern Shipping Company, Piramal Pharma, Eicher Motors, Cera Sanitaryware, JM Financial, ICRA, Solar Industries India, Ganesha Ecosphere, Bannariamman Sugars, Automotive Axles, Hindustan Construction Company, Balmer Lawrie & Co, Gulf Oil Lubricants India, Andhra Paper, Avadh Sugar & Energy, Lupin, MRF, LIC Housing Finance, Radico Khaitan, KEC International, Mahanagar Gas, Minda Corporation, Karnataka Bank, Neuland Laboratories, Privi Speciality Chemicals, Nilkamal, Navneet Education, Refex Industries, Rossell India, Punjab Chemicals & Crop Protection, Oriental Carbon and Chemicals, NR Agarwal Industries, Orient Abrasives, Smartlink Holdings, Sandur Manganese & Iron Ores, Oriental Trimex, Sun Pharmaceutical Industries, Varun Beverages, Zomato, Tube Investments of India, Zydus Wellness, Texmaco Rail and Engineering, Xchanging Solutions, Texmaco Infrastructure & Holdings, Steelcast, Tree House Education and Accessories, Venus Pipes & Tubes, Supriya Lifesciences, Tijaria Polypipes and Yasho Industries.

Akzo Nobel India, Automotive Axles, Blue Star, Cummins India, Prataap Snacks, Dollar Industries, Great Eastern Shipping, ICRA, Indian Hume Pipe, JK Tyre Industries, JM Financial, Kirloskar Ferrous Industries, Lupin, Laxmi Organic Industries, Prism Johnson, Rajratan Global Wire, Ratnamani Metals and Tubes.

Campus Activewear: ICICI Prudential bought 25 lakh shares (0.8%) at Rs 295 apiece, and Societe Generale bought 17 lakh shares (0.6%) at Rs 295 apiece.

Satia Industries: SDS Cotton sold 5.1 lakh shares (0.5%) at Rs 113.79 apiece.

Niyogin Fintech: WF Asian Reconnaissance Fund sold 1.2 crore shares (12.9%) at Rs 61.65 apiece, and Carmignac Portfolio sold 5.5 lakh shares (0.6%) at Rs 68.11 apiece. Think India Opportunities Master Fund bought 58 lakh shares (6.1%) at Rs 61.65 apiece, Madhuri Madhusudhan Kela bought 50.2 lakh shares (5.3%) at Rs 61.65 apiece, Multiplier Share & Stock Advisors bought 10 lakh shares (1%) at Rs 61.65 apiece, and Mansi Share & Stock Advisors bought five lakh shares (0.5%) at Rs 64.88 apiece.

Unichem Laboratories: Prakash Amrut Mody sold 2.35 crore shares (33.4%), and Ipca Laboratories bought 2.35 crore shares (33.4%) at Rs 402.25 apiece.

Ultramarine and Pigments: Promoter Daya Sridhar sold 16,000 shares on Aug. 1.

Price Band Revised From 20% To 10%: DCM Shriram Industries

Ex-date Dividend: Alembic, ADF Foods, Avanti Feeds, Bata India, Greaves Cotton, United Breweries, Xpro India, Honeywell Automation India, Ramco Industries, Maruti Suzuki India, Granules India, Usha Martin, Honda India Power Products, Clean Science and Technology, Esab India, Oriental Aromatics, S. H. Kelkar and Company, UPL, Ramco Industries, Cholamandalam Financial Holdings, Avanti Feeds, Matrimony.Com, Ramco Cements, DISA India

Ex-date Interim Dividend: Aegis Logistics, Coforge

Ex-date AGM: ADF Foods, Bata India, IOL Chemicals and Pharmaceuticals, Godrej Industries, United Breweries, Xpro India, Honeywell Automation India, Ramco Industries, Granules India, Usha Martin, Honda India Power Products, Clean Science and Technology, Esab India, Privi Speciality Chemicals, Oriental Aromatics, S. H. Kelkar and Company, Cholamandalam Financial Holdings, Avanti Feeds, Expleo Solutions, UPL, Ramco Cements

Record-date Dividend: Alembic, Granules India, Usha Martin, Ramco Industries, Matrimony.Com, Ramco Cements

Record-date Interim Dividend: Aegis Logistics, Coforge

Move Into Short-Term ASM Framework: Dilip Buildcon, LT Foods, and Orient Green Power

Move Out Of Short-Term ASM Framework: Dodla Dairy, Heritage Foods, Xchanging Solutions

Vedant Fashions: To meet with analyst on August 9.

Nifty August futures ended at 19,585.15, a discount of 227.40 points.

Nifty August futures fell 3.31%, with 7,135 shares in open interest.

Nifty Bank August futures ended at 45,130.00, a discount of 617.95 points.

Nifty Bank August futures fell 3.01% with 3,949 shares in open interest.

Securities in the ban period: Indiabulls Housing Finance, Piramal Enterprises, Hindustan Copper, and Gujarat Narmada Valley Fertilisers and Chemicals

The Indian rupee closed 0.4% higher at 82.59 against the U.S. dollar on Wednesday.

Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.

Unichem Laboratories:Vedanta:Gujarat Gas:UltraTech Cement:Mining companies:JSW Steel:Sheela Foam:Hindalco Industries:NTPC:Ramkrishna Forgings:Torrent Power:Central Bank of India:Asian Energy Services:Narayana Healthcare:Oil India:Interglobe Aviation:Titan Co. Q1 FY24 (Consolidated, YoY)InterGlobe Aviation Q1 FY24 (Consolidated, YoY)Gujarat Gas Q1 FY24 (Consolidated, YoY)Narayana Hrudalaya Q1 FY24 (Consolidated, YoY)Metropolis Healthcare Q1 FY24 (Consolidated, YoY)Mankind Pharma Q1 FY24 (Consolidated, YoY)HPCL Q1 FY24 (Consolidated, YoY)Amrutanjan Health Care Q1 FY24 YoYKSB Q2 FY24 (Consolidated, YoY)Paradeep Phosphates Q1 FY24 (Consolidated, YoY)Pricol Q1 FY24 (Consolidated, YoY)Quess Corp. Q1 FY24 (Consolidated, YoY)Sheela Foam Q1 FY24 (Consolidated, YoY)Vaibhav Global Q1 FY24 (Consolidated, YoY)VIP Industries Q1 FY24 (Consolidated, YoY)Vardhman Special Steels, Q1 FY24Campus ActivewearSatia IndustriesNiyogin Fintech:Unichem Laboratories:Ultramarine and Pigments:Price Band Revised From 20% To 10%Ex-date Dividend:Ex-date Interim Dividend:Ex-date AGM:Record-date DividendRecord-date Interim Dividend:Move Into Short-Term ASM FrameworkMove Out Of Short-Term ASM FrameworkVedant Fashions