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Market Highlights

Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

July 21, 2023

*India Daybook – Stocks in News*
*Union Bank:* Net profit at Rs 3,236.4 cr vs Rs 1,558.5 cr, NII up 16.6% at Rs 8,839.7 cr vs Rs 7,581.7 cr (YoY) (Positive)
*South Indian Bank:* Net profit up 75.5% at Rs 202.3 cr vs Rs 115 cr, NII up 33.9% at Rs 807.7 cr vs Rs 603.4 cr (YoY) (Positive)
*Tanla:* Net profit up 34.5% at Rs 135 cr vs Rs 100.4 cr, Revenue up 13.9% at Rs 911 cr vs Rs 800 cr (YoY) (Positive)
*United Spirits:* EBITDA at Rs 385.0 cr vs poll of Rs 293.0 cr, Revenue at Rs 2,171.9 cr vs poll of Rs 2,119 cr (Positive)
*M&M:* Michigan Federal District Court in its order on Fiat motion said the company’s arm Mahindra Automotive North America can continue to produce/sell post-2020 ROXOR in the US (Positive)
*IOC:* UAE's state-backed oil giant agrees 14-year LNG agreement with Indian Oil Corp valued at $7-9 billion (Positive)
*Federal Bank:* QIP got a strong response; the issue got nearly 7x subscription, media sources (Positive)
*PVR Inox:* Company opens 12 screen multiplex at Forum Mall, Bengaluru (Positive)
*Larsen & Toubro:* Proposal for buyback of equity shares of the Company and payment of Special dividend on 25th July. (Positive)
*LTI Mindtree:* Company has announced strategic partnership with CYFIRMA. (Positive)
*HAL:* Company and Argentina have signed a Letter of Intent on productive cooperation and acquisition of light and medium utility helicopters for the armed forces of the Argentine Republic (Positive)
*TCS:* Company has bagged a deal from British Broadcasting Cooperation (BBC) to change its finance, procurement, and HR applications management
*Tata Motors:* JLR appoints Adrian Mardell as CEO & Richard Molyneux as CFO (Neutral)
*Jindal Stainless:* Company has completed the acquisition of Jindal United Steel (Neutral)
*India Mart:* Revenues up 25.65% at Rs 282.1 crore vs. Rs 224.5 crore. Net profit up 77.9% at Rs 83.1 crore vs. Rs 46.69 crore. (Neutral)
*Indusind Bank:* Board has approved raising of funds through debt securities on a private placement basis for an aggregate amount of Rs 20,000 crore. (Neutral)
*HUL:* Net profit at Rs 2,472 cr vs poll of Rs 2,620 cr, Revenue at Rs 15,148 cr vs poll of Rs 15,450 cr. (Neutral)
*Amara Raja Batteries:* BNP Paribas Arbitrage sold 10.3 lakh shares at Rs 623.53 apiece. (Neutral)
*Infosys:* Net profit reported at Rs. 5950 crore versus poll Rs. 6194 crore, Rupee revenue reported at Rs. 37,933 crore versus poll Rs. 37,716 crore. (Neutral)
*Infosys:* FY24 CC Revenue Guidance Revised To 1-3.5% from 4-7% Earlier. (Negative)
*Hindustan Unilever:* Q1 domestic volume growth at 3% vs poll pf 5-6% (Negative)
*Dalmia Bharat:* Net Profit down 29.8% at Rs 144 cr vs Rs 205 cr, Revenues at Rs 3624 cr vs estimates of Rs 3624 cr (Negative)
*KRBL/ LT Foods:* Government bans export of non-Basmati rice with immediate effect (Negative)
*Persistent:* Revenue at Rs 2,321.2 cr vs poll of Rs 2,325 cr, Net Profit reported at Rs. 228.0 crore versus poll Rs. 278.0 crore (Negative)
*Coforge:* CC revenue growth at 2.7% vs poll of 2.8-2.9% rise, $ revenue at $271.8 m Vs Poll Of $274 m (Negative)
*Quick Heal:* Net loss of Rs 13 crore vs Profit of 0.1 crore QoQ, revenue slipped 16 percent to Rs 51.4 crore (Negative)
*Responsive Industries:* Brenzett sold 26.5 lakh shares (1%) at Rs 182.02 apiece. (Negative)
*GIFT Nifty -100 pts (19867) from last trade 19967 ,*
Nikkei -180 pts ,
Hangseng -9 pts ,
Now @6.52am .
Dow +165.97 pts ,Nsdq -294.71 pts, S&P -30.85 pts , Bovespa +530 pts , Ftse +57 pts , Dax +95 pts , Cac +57 pts , Crude @ $75.67 brl (-0.00), Brent @ $79.71 brl (+0.07) , Gold @ 1974.70 (+3.80), Silver @ $25.025 (+0.06), Euro @ $1.1135, JPY @ $139.96, INR @ 82.075
*Today's Corporate Action*
*21st July Ex Date*
ABBOTINDIA
Final Dividend - Rs. - 180.0000
ABBOTINDIA
Special Dividend - Rs. - 145.0000
ACI
Final Dividend - Rs. - 2.5000
ANGELONE
Interim Dividend - Rs. - 9.2500
ANUP
Final Dividend - Rs. - 15.0000
ARVIND
Special Dividend - Rs. - 2.0000
ARVIND
Final Dividend - Rs. - 3.7500
ARVSMART
Final Dividend - Rs. - 1.6500
ARVSMART
Special Dividend - Rs. - 1.6500
ASTEC
Final Dividend - Rs. - 1.5000
BASF
Final Dividend - Rs. - 8.0000
BLUESTARCO
Final Dividend - Rs. - 12.0000
BOMBCYC
Final Dividend - Rs. - 5.0000
CIPLA
Final Dividend - Rs. - 8.5000
DABUR
Final Dividend - Rs. - 2.7000
DHANUKA
Final Dividend - Rs. - 2.0000
FIEMIND
Final Dividend - Rs. - 30.0000
GCSL
Final Dividend - Rs. - 0.5000
GOLDIAM
Buy Back of Shares
HIL
Final Dividend - Rs. - 25.0000
IMFA
Final Dividend - Rs. - 5.0000
IMPAL
Dividend - Rs. - 15.0000
INDIANHUME
Final Dividend - Rs. - 1.0000
INFOBEAN
Final Dividend - Rs. - 1.0000
INTELLECT
Final Dividend - Rs. - 2.5000
JAMNAAUTO
Final Dividend - Rs. - 1.1000
KHAICHEM
Final Dividend - Rs. - 0.3000
KOKUYOCMLN
Dividend - Rs. - 0.5000
KPRMILL
Final Dividend - Rs. - 2.0000
L&TFH
Final Dividend - Rs. - 2.0000
LICI
Final Dividend - Rs. - 3.0000
LXCHEM
Final Dividend - Rs. - 0.5000
M&MFIN
Dividend - Rs. - 6.0000
MINDACORP
Final Dividend - Rs. - 0.8000
MPSLTD
Final Dividend - Rs. - 20.0000
RPGLIFE
Final Dividend - Rs. - 12.0000
SAINTGOBAIN
Final Dividend - Rs. - 1.5000
SASKEN
Final Dividend - Rs. - 13.0000
SONATSOFTW
Final Dividend - Rs. - 8.7500
SUMICHEM
Final Dividend - Rs. - 1.2000
SUPER
Final Dividend - Rs. - 7.0000
SYMPHONY
Final Dividend - Rs. - 1.0000
TECHM
Final Dividend - Rs. - 32.0000
THERMAX
Dividend - Rs. - 10.0000
TTKPRESTIG
Dividend - Rs. - 6.0000
ZENSARTECH
Final Dividend - Rs. - 3.5000
ZYDUSWELL
Final Dividend - Rs. - 5.0000
*Today's Board Meetings*
*21-Jul-23*
20MICRONS
Quarterly Results
AARTIDRUGS
Audited Results;Buy Back of Shares;Quarterly Results
ACML
A.G.M.;General
ALEXANDER
A.G.M.
ASHOKLEY
General;Quarterly Results
ATUL
Quarterly Results
AVL
A.G.M.;General;Quarterly Results
BENARAS
General;Quarterly Results
CMSINFO
A.G.M.;Quarterly Results
CREDITACC
General;Quarterly Results
CYIENTDLM
Quarterly Results
DCMNVL
Quarterly Results
DLF
Quarterly Results
DODLA
Quarterly Results
EARUM
A.G.M.;Buy Back of Shares;Bonus issue;Final Dividend;Stock Split
GGAUTO
Quarterly Results
GLS
Quarterly Results
GNA
Bonus issue;Quarterly Results
GSBFIN
General
HDFCLIFE
Quarterly Results
HINDZINC
Quarterly Results
IMPEXFERRO
General
JSWSTEEL
Quarterly Results
KABRAEXTRU
Quarterly Results
KHAITANLTD
General
LKPFIN
Quarterly Results
LLFICL
General
MNIL
Quarterly Results
NOL
A.G.M.;General
PEOPLIN
Quarterly Results
PNBGILTS
Quarterly Results
PONNIERODE
Quarterly Results
RAJATH
Quarterly Results
RAJGLOWIR
General;Quarterly Results
RELIANCE
Quarterly Results
RFSL
A.G.M.
RKFORGE
General;Quarterly Results
SOUTLAT
Quarterly Results
SUDARSHAN
Employees Stock Option Plan;Final Dividend;Increase in Authorised Capital;General
SURAJLTD
Quarterly Results
TEJASNET
Quarterly Results
ULTRACEMCO
Quarterly Results
WENDT
Quarterly Results
WHITHAL
Quarterly Results
*Stock under F&O ban on NSE*
*21-Jul-23*
1 BALRAMCHIN
2 DELTACORP
3 IBULHSGFIN
4 L&TFH
5 MANAPPURAM
6 PNB
7 RBLBANK
*WHAT HAPPENED OVERNIGHT*
- SPX -0.68%, Nasdaq -2.05%, Dow +0.47%
- Big earnings hits: Netflix -8%, Tesla -9%
- Initial jobless claims & existing home sales sent hawkish reminders to markets
- 10y yield +10 bps to 3.85%
- Dollar Index +0.5% to 100.76
- Oil +0.4% to $79.74
Macquarie 0n Infosys
Downgrade To Underperform
Target Rs 1,130
==
JPMorgan on Infosys
Underweight Rating
Target Rs 1,150
==
Jefferies On Infosys
Buy Rating
Target Rs 1,550
==
Nomura on Infosys
Downgrade To Reduce
Target Cut To Rs 1,210 From 1,260
==
BoFA Sec on Infosys
Neutral Rating
Target Rs 1,390
==
HSBC on Infosys
Buy Rating
Target Rs 1,540

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