breaking news

UPDATE: EUROZONE GDP (QOQ) (Q2) ACTUAL: 0.6% VS 0.7% PREVIOUS; EST 0.7% (NUMBERS TRAILED WITH ESTIMATES, NEUTRAL TO NEGATIVE FOR EURO)
UTI AMC: CO CLARIFIES TO THE NEWS ITEM -TATA ASSET MANAGEMENT CONSIDERS BUYING 45% IN UTI AMC || CO SAYS THEY ARE NOT AWARE OF ANY SUCH NEGOTIATIONS / EVENTS (UNWINDING EXPECTED TO BE SEEN ON STOCK PRICES)
NEWS UPDATE: EU SEES IRAN’S REPLY TO DRAFT NUCLEAR DEAL AS CONSTRUCTIVE: BBG CITES OFFICIAL FAMILIAR WITH TALKS (MARGINAL UNWINDING LIKELY TO BE SEEN ON CRUDE PRICES)
MACRO UPDATE: UK CPI YOY ACTUAL 10.1% (FORECAST 9.8%, PREVIOUS 9.4%) (SUPPORTIVE FOR GBP)
Stocks in F&O Ban

BALRAMPUR

DELTACORP

TATA CHEM

Sona BLW partners Israel-based company, Drive TLV for smart mobility solutions

Lawsuit against some of the Cancer drug, Zantac makers, is dropped just ahead of trial. Teva, Perrigo, Sun Pharma, Dr Reddy to make a combined settlement

Ashok Leyland has approved the Scheme of Merger by Absorption of Hinduja Leyland Finance

RateGain: Air India selects company’s AirGain product to dynamically adjust prices with real-time

(Supportive news from stocks)

SCI: DIPAM TO SELL 63.75% STAKE IN CO TO GET RUPEES 2535 CR (SUPPORTIVE FOR SCI)
QUESS CORP: CO SAYS EXPECT A STRONG FINISH IN Q2 || CO ALSO SAYS BUSINESSES OF THE COMPANY HAVE TURNED AROUND WELL (SUPPORTIVE FOR QUESS CORP)
Zinc Update: LME Zinc Price surged nearly 5.0 percent after news major European zinc smelter to shut amid high energy costs. MCX Zinc August future rose around 3.0 percent.

Zinc LTP 334.20 (+3.67% / +11.80)
Support 328.80 /325.0
Resistance 336.80 /340.0

NEWS UPDATE: MAJOR EUROPEAN ZINC SMELTER TO SHUT AMID HIGH ENERGY COSTS: BBG (SUPPORTIVE FOR ZINC PRICES)
PRAJ: IOCL’S 2G ETHANOL BIO-REFINERY BASED ON CO’S TECHNOLOGY INAUGURATED BY PM MODI || CO IS ALSO SETTING UP SIMILAR PROJECTS FOR HPCL AND BPCL (SUPPORTIVE FOR STOCK PRICES)\
MAITHAN ALLOYS: CO SAYS MINISTRY MOEF&CC APPROVAL FOR FERRO ALLOY PLANT OF CO UNIT (SUPPORTIVE FOR STOCK PRICES)
CIPLA: US FDA BEGINS INSPECTION OF CIPLA’S GOA PLANT TODAY (STOCK LIKELY TO REMAIN CAUTIOUS BEFORE OUTCOME OF INSPECTION REPORT)
Macro Update: INDIA JULY WHOLESALE PRICES INFLATON RISE 13.93% VS 15.18% (YOY); EST.13.70% (NUMBERS INLINE WITH ESTIMATES)
SMAVARDHANA MOTHERSON: CO HAS RECOMMENDED ISSUE OF BONUS SHARES IN THE RATIO OF 1 (ONE) BONUS EQUITY SHARE AGAINST 2 (TWO) EXISTING EQUITY SHARES (NEUTRAL TO POSITIVE FOR STOCK PRICES)
NEWS UPDATE: CHINA TO BOOST ECONOMIC DEMAND, SPEED UP INFRASTRUCTURE – CHINA MIN (SENTIMENT SUPPORTIVE FOR INDUSTRIAL METALS)
Tata AMC set to acquire significant stake in UTI MF, sources (Supportive for UTIAMC)

HDFC AMC: RS 2325.03CR BSE BLOCK TRADE; FOR ~11958163 SHARES, AT RS 1944.3 (Stock to remain on focus)

Currency Holiday Alert

Currency Derivative segment will remain closed TODAY on account of Parsi New Year.

Stocks in F&O Ban

BALRAMPUR

DELTACORP

TATA CHEM

Morgan Stanley double upgrades Godrej Cons to overweight from underweight (Supportive for stock prices)

Sun Pharma: Halol facility inspection as “Official Action Indicated” (OAI) US FDA inspected cos’ Halol facility from April 26- May 9, 2022, issued 10 observations. (Neutral for stock prices as company continues to manufacture & distribute existing products for the US market)

HERO MOTOCORP:

Q1 SL NET PROFIT RUPEES 6.24B VS 3.7B (YOY); EST 7.7B

Q1 REVENUE RUPEES 83.93B VS 54.9B (YOY)

Q1 EBITDA RUPEES 9.40B VS 5.14B (YOY); EST 10.42B

Q1 EBITDA MARGIN 11.21% VS 9.38% (YOY); EST 12%

(NUMBERS MARGINAL LOWER THAN MARKET ESTIMATES)

HINDUSTAN AERONAUTICS:* Q1 CONS NET PROFIT 6.1B RUPEES VS 1.9B (YOY) Q1 EBITDA 8.3B RUPEES VS 2.4B (YOY) || Q1 EBITDA MARGIN 22.81% VS 15% (YOY) (OPERATIONAL NUMBERS SEEN BETTER, TOPLINE NUMBERS MARGINALLY TRAILED
ASIAN GRANITO:* Q1 CONS NET LOSS 21M RUPEES VS PROFIT 82M (YOY) (NUMBERS WEAK ON YOY BASIS)
RUPA* & CO: Q1 CONS NET PROFIT 124M RUPEES VS 494M (YOY); 493.1M (QOQ) (NUMBERS WEAK ON YOY BASIS)
NLC INDIA:* Q1 CONS NET PROFIT 5.62B RUPEES VS 3.48B (YOY); 3.28B (QOQ) (SUPPORTIVE FOR STOCK PRICES)
SJVN:* Q1 CONS NET PROFIT 6.1B RUPEES VS 3.4B (YOY); 75M (QOQ) (SUPPORTIVE FOR STOCK PRICES)
GUJARAT MINERAL DEVELOPMENT CORP:* Q1 CONS NET PROFIT 3.45B RUPEES VS 377M (YOY) (SUPPORTIVE FOR STOCK PRICES)
GODREJ INDUSTRIES:* Q1 CONS NET PROFIT 2.04B RUPEES VS 1.4B (YOY) (SUPPORTIVE FOR STOCK PRICES)
INDIA CEMENTS:* Q1 SL NET PROFIT 761M RUPEES VS PROFIT 374M (YOY); LOSS 237M (QOQ) (SUPPORTIVE FOR STOCK PRICES)
FINOLEX CABLES:* Q1 CONS NET PROFIT 1.2B RUPEES VS 869M (YOY) (SUPPORTIVE FOR STOCK PRICES
BHARAT DYNAMICS:* Q1 SL NET PROFIT 399M RUPEES VS LOSS 209M (YOY) (SUPPORTIVE FOR STOCK PRICES)
GRASIM INDUSTRIES:* Q1 EBITDA 13.2B RUPEES VS 7.4B (YOY) || Q1 EBITDA MARGIN 18.2% VS 19.67% (YOY) (SUPPORTIVE FOR STOCK PRICES)

BALAJI AMINES:* Q1 CONS NET PROFIT 1.2B RUPEES VS 904M (YOY) Q1 EBITDA 2.15B RUPEES VS 1.43B (YOY) || Q1 EBITDA MARGIN 32.05% VS 31.74% (YOY) (NEUTRAL TO POSITIVE FOR STOCK PRICES)
NAZARA TECH:* INVESTOR MEET TODAY: INVESTOR RAKESH JHUNJHUNWALA TO ATTEND
ASHOKA BUILDCON:* CO WINNS ORDER WORTH 255 crs (SUPPORTIVE FOR STOCK PRICES)
BAJAJ ELECTRICALS:* Q1 CONS NET PROFIT 430M RUPEES VS LOSS 219M (YOY) (SUPPORTIVE FOR STOCK PRICES)