Market will open on a lower side today.
Pre-existing factors such as economic and consumption slowdown, consistent FII selling after Finance Minister Nirmala Sitharaman denied to tweak surcharge on the super-rich and relentless asset quality concerns added more fuel to the fire to slide on Friday and made a long bearish candle on the daily chart.
Stocks in Asia kicked off the week on a cautious note as traders dialled back expectations on the size of Federal Reserve easing later this month. Oil rose in early Monday trading ahead of an emergency meeting by U.K. officials to discuss the security of shipping in the Persian Gulf after Iran seized a British oil tanker last week.
U.S. stocks extended weekly losses amid mounting tension in the Persian Gulf and as investors speculated the Federal Reserve will limit a rate cut to a quarter-point.
🎯 News & Impact 🎯
Major Results Today :
Kotak Bank
Results Updates :
🎯 Reliance Industries (Q1, QoQ) : Revenue up 5.6 % to Rs.88,263 crore.
Net profit up 5.6 % to Rs.9,036 crore. Ebitda down 0.5 % to Rs.13,640 crore. Ebitda margin at 15.5 percent versus 16.4 %. Gross revenue margin down 1.2 % to $8.1 a barrel.
Reliance Jio (Q1, QoQ) :
Revenue up 5 % to Rs 11,679 crore.
Net profit up 6 % at Rs. 891 crore.
🎯 HDFC Bank Q1:
Profit grows 21 percent to Rs 5,568.2 crore versus Rs 4,601 crore, NII jumps 22.9 percent to Rs 13,294 crore versus Rs 10,813.6 crore YoY; gross NPA rises to 1.40 percent versus 1.36 percent and net NPA increases to 0.43 percent versus 0.39 percent QoQ.
🎯 InterGlobe Aviation (Q1, YoY) :
Revenue up 45 % at Rs.9,420 crore.
Net profit up 43 % at Rs.1,203 crore.
Positive for the stock. 👍
🎯 L&T Finance Holdings (Q1, YoY) :
Net Interest Income up 20.1 % to Rs. 1,389.9 crore.
Net profit up 7.5 % to Rs 578.8 crore.
Positive for the stock. 👍
🎯 Avanti Feeds (Q1, YoY) :
Revenue up 5.1 % to Rs 1,093.5 crore.
Net profit up 12.7 % to Rs 101.5 crore.
🎯 Reliance Industries :
Brookfield plans to acquire stake in Tower Infrastructure Trust - Reliance Jio lnfratel Private Limited – for Rs 25,215 crore.
Positive for the stock. 👍
🎯 Jet Airways :
Company's lenders approved resolution to raise interim finance and key terms for the eligibility criteria for the prospective resolution applicants.
🎯 IOL Chemicals & Pharma :
Company said that they have made a prepayment of Rs.15.39 crore due to banks on July 19 and a totally prepaid Rs. 84.18 crore of loans to reduce debt of the company.
🎯 Grasim Industries :
Board of Aditya Birla Idea Payments Bank has approved the voluntary winding up of the company.
🎯 Gruh Finance :
Board approved to increase total shareholding of all registered FPIs/FIIs from 24 % to 40 %.
🎯 Strides Pharma :
Announced successful completion of the U.S. FDA inspection at its flagship facility in Bangalore.
🎯 CG Power :
Bagged contract for a 400 MW wind farm in Saudi Arabia.
🎯 Cipla :
U.S. FDA inspection at the company’s facility in Virgonagar, Bangalore ended with seven observations.
🎯 Dr Reddy's :
Announced closure of the transaction with Upsher-Smith Laboratories, LLC.
🎯 BHEL :
Company secured order worth Rs.486 crore for erection work from Nuclear Power Corporation of India.
🎯 Bosch :
To suspend all manufacturing operations in company’s Gangaikondan plant in Tamil Nadu from July 23-27 to adjust production to meet the demand and avoid unnecessary buildup of inventory.
🎯 Anuh Pharma :
Company facility has passed the joint inspection by AEMPS - Spain, EDQM and WHO-Geneva conducted on November 26-28, 2018.
🎯 Om Metals Infraprojects :
Company acquired additional 24 % shareholding in Gujrat Warehousing Private Limited by way of conversion of loan into equity shares, thereby making it as subsidiary company.
🎯 Mcnally Bharat :
Company received one order from NLC India Limited, relating to work of Formation of Internal & Peripheral roads and Construction of culverts' located at Talabira R&R colony in Odisha worth Rs. 10.43 crore.
🎯 ARSS Infrastructure :
Company's JV received work order of Rs 77.96 crore for construction of earth work, bridge work, protection work for minor and major bridges, slope of bank, buildings, site facilities, general electrical works and other miscellaneous works in connection with the doubling of Sambalpur - Titlagarh in Sambalpur Division of East Coast Railway, from Rail Vikas Nigam Limited.
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Edited by Sharp
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