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StockAxis

StockAxis Weekly Newsletter August 06, 2022

Sensex, Nifty logged gains aided by IT, Auto and Metal stocks.

Indian Markets

Equity Benchmark Indices logged gains aided by IT, Auto and Metal stocks. The S&P BSE Sensex grew (+1.4%) to 58,387.93in the week ending August 6th,2022 while the NSE Nifty50 grew (+1.4%) to 17,397.50.

On the sectoral front, only NiftyIT (+2.8%), NiftyAuto (+2.1%), NiftyMetal (+2.0%), outperformed the NSE Nifty50 index and NiftyPSUBank (+1.6%), NiftyPharma (+1.3%), NiftyBank (+1.1%), NiftyFMCG (1.0%), NiftyMedia (+0.4%), NiftyRealty (-2.9%), underperformed the index.

The India VIX was +14.3% to 18.92.

FIIs/DIIs Daily Cash Market Activity (INR. in Crores)

Date FIIs DIIs
01-08-2022 2320.61 -822.23
02-08-2022 825.18 117.79
03-08-2022 765.17 -518.42
04-08-2022 1474.77 -46.79
05-08-2022 1605.81 -495.94

News Update

Astral Ltd: Astral has launched first display centre for their bathware range. The massive 2400 sq. feet state-of-the-art showroom will display Astral’s faucets and sanitaryware exclusive product collection with an aim to enhance the customer experience at the most premium location of Ahmedabad. The company also acquired an existing ready-to-use bathware manufacturing unit to felicitate timely production to ease product availability across the country.

Godrej Properties: Godrej Properties has acquired land parcel to develop a luxury project near Carmichael Road, an upmarket residential area in Mumbai. Spread across approximately 0.5 acres, the site is located at one of India’s most prestigious and sought after residential locations. The land was purchased from the Karam Chand Thapar (KCT) group.

Bajaj Auto: Bajaj Auto has reported marginal fall of 4% in total sales to 3,54,670 units in July 2022 as against 3,69,116 in the same month last year. Total domestic sales increased by 9 percent to 1,82,956 units in July as compared to 1,67,273 units in July 2021. Total two-wheeler sales were down 5 percent at 3,15,054 units as compared to 3,30,569 units in the year-ago month. Commercial Vehicles sales stood at 39,616 units in July 2022 as against 38,547 units in July 2021, registering a rise of 3 percent. Meanwhile, exports of the company stood at 1,71,714 units in the reporting month compared to 2,01,843 in the same month last year.

Infosys: Infosys has opened its Sydney Living Lab, a high-tech co-creation space for digital innovation, part of a network of over 20 established globally, including Melbourne. This NSW Living Lab is a 160 sqm co-creation space in Infosys’ new Sydney office, which spans 2,030 sqm over two storeys at 100 Arthur Street in North Sydney

CEAT: CEAT has entered into first amendment agreement to the share subscription and shareholders’ agreement with Greenzest Solar (Greenzest), for making a further investment of up to Rs 3.50 crore in Greenzest, on such terms and conditions as prescribed therein. Upon completion of the investment, the total holding of the company in Greenzest shall be 27.52%. The investment is scheduled to be made in Q2 of FY23.

DLF: DLF has reported results for first quarter ended June 30, 2022. The company has reported fall of 9.98% in its net profit at Rs 244.16 crore for the quarter under review as compared to Rs 271.23 crore for the same quarter in the previous year. However, total income of the company increased by 4.79% at Rs 1007.10 crore for Q1FY23 as compared Rs 961.02 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported a rise of 39.16% in its net profit at Rs 469.21 crore for the quarter under review as compared to Rs 337.17 crore for the same quarter in the previous year. Total income of the company increased by 22.06% at Rs 1516.28 crore for Q1FY23 as compared Rs 1242.27 crore for the corresponding quarter previous year.

Coal India: Coal India is implementing a plan for operationalising 14 mines through the engagement of mine developer and operators (MDOs) with an aim to ramp up its production. These mines have a combined capacity of 165.58 million tonne per annum.

DLF: DLF is aiming a 10 per cent growth in its sales bookings to about Rs 8,000 crore this fiscal (FY23) on better demand for its housing properties. DLF's sales bookings rose to Rs 7,273 crore in 2021-22 fiscal from Rs 3,084 crore in the previous year. In the first quarter of this fiscal, DLF's sales bookings doubled to Rs 2,040 crore from Rs 1,014 crore in the year-ago period. DLF has reduced its net debt by 16 per cent during the April-June period to Rs 2,259 crore from the previous quarter on the back of strong housing sales. Its net debt stood at Rs 2,680 crore at the end of the last fiscal.

HDFC: Company has increased its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 25 basis points. The company has revised rate with effect from August 1, 2022.

TATA Motors: Company has reported 52% increase in total domestic sales to 78,978 units in July 2022 as compared to 51,981 units in July 2021. Domestic passenger vehicle (PV) sales also grew 57% to 47,505 units against 30,185 units in the year-ago month. Commercial vehicle (CV) sales in the domestic market stood at 34,154 units last month against 23,848 units in July 2021, a growth of 43%.compared to Rs 3,084.10 crore for the same quarter in the previous year. Total income of the company increased by 19.53% at Rs 29,086.35 crore for Q3FY22 as compared Rs 24,334.62 crore for the corresponding quarter previous year.

Indusind Bank: Company has inked a strategic partnership with Rupyy - a new age digital lending platform offering 100% paperless loan processing. Rupyy is a fintech arm of the Jaipur based, Girnarsoft (which houses brands like CarDekho, BikeDekho, Zigwheels, Powerdrift etc).

TVS Motors: Company has registered a growth of 13% in July 2022 with sales of 314,639 units as against 278,855 units in the month of July 2021. Total two-wheelers registered a growth of 14% in July 2022 with sales increasing from 262,728 units in July 2021 to 299,658 units in July 2022. Domestic two-wheeler registered growth of 15% with sales increasing from 175,169 units in July 2021 to 201,942 units in July 2022.

Creditaccess Grameen: Company has reported results for first quarter ended June 30, 2022.The company has reported 4-fold jump in its net profit at Rs 132.58 crore for the quarter under review as compared to Rs 29.59 crore for the same quarter in the previous year. Total income of the company increased by 21.55% at Rs 621.26 crore for Q1FY23 as compared Rs 511.11 crore for the corresponding quarter previous year. On the consolidated basis, the company has reported around 7-fold jump in its net profit at Rs 139.56 crore for the quarter under review as compared to Rs 20.29 crore for the same quarter in the previous year. Total income of the company increased by 23.19% at Rs 760.52 crore for Q1FY23 as compared Rs 617.37 crore for the corresponding quarter previous year.

Mahindra & Mahindra: M&M overall auto sales for the month of July 2022 stood at 56148 vehicles. In the Utility Vehicles segment, Mahindra sold 27854 vehicles in July 2022. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 28053 vehicles in July 2022, year on year growth of 33%.Exports for the month were at 2798 vehicles. In the Commercial Vehicles segment, Mahindra sold 20946 vehicles in July 2022.

Tech Mahindra: Company has entered into partnership with Union Bank of India (UBI). As a part of the partnership, for enabling Union Bank of India to be on Metaverse, Tech Mahindra worked with Union Bank of India to launch India’s first PSU Metaverse Lounge, ‘Uni-Verse’. In the first phase, Tech Mahindra’s Research & Development (R&D) arm, Makers Lab, has built Metaverse ‘Virtual lounge’ for the bank to deliver an interactive and immersive customer experience.

Bharti Airtel: Company has acquired 19,800 MHz spectrum in 5G auction by securing a pan India footprint of 3.5 GHz and 26 GHz bands. In addition, the company was able to selectively bolster mid-band spectrum. This massive spectrum bank was secured for a total consideration of Rs 43,084 crore in the latest spectrum auction conducted by the Department of Telecom, Government of India.

Reliance Industries (RIL): Company telecom arm Reliance Jio Infocomm (Jio) has acquired spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz and 26GHz bands in the auctions conducted by the Department of Telecommunications (DoT), Government of India.

Total cost of acquiring the right to use the technology agnostic spectrum for a period of 20 years is Rs 88,078 crore.

Zomato: Zomato has reported results for first quarter ended June 30, 2022. The company has reported net loss of Rs 138.10 crore for the quarter under review as compared to net loss of Rs 290.80 crore for the same quarter in the previous year. However, total income of the company increased by 57.47% at Rs 1,304.30 crore for Q1FY23 as compared Rs 828.30 crore for the corresponding quarter previous year.

Pfizer: Pfizer has transferred its certain primarily off-patent branded and generic established medicines business (Upjohn Business) comprising of six brands which included Lyrica, Viagra, Celebrex, Amlogard, Daxid and Dilantin along with related business assets and liabilities to Mylan Pharmaceuticals, effective August 1, 2022. Accordingly, the Company has received the purchase consideration of Rs 180.48 crore from Mylan Pharmaceuticals. Earlier, the company had entered into a business transfer agreement (BTA) with Mylan Pharmaceuticals.

Tech Mahindra: Tech Mahindra has entered into strategic partnership with Soroco, the world's first work graph company. The partnership will establish a state-of-the-art Center of Excellence (CoE) to deliver an accelerated transformation program for business process management and managed services backed by intelligent automation and task mining. Tech Mahindra's CoE will be located in New Delhi to support the evolving digital transformation needs of customers' right from Discovery to Realization.

Varun Beverages: Varun Beverages has reported results for second quarter ended June 30, 2022. On the consolidated basis, the company has reported over 2-fold jump in its net profit at Rs 802.01 crore for the quarter under review as compared to Rs 318.80 crore for the same quarter in the previous year. Total income of the company increased by 2-fold at Rs 5,028.05 crore for quarter ended June 30, 2022 as compared Rs 2,507.45 crore for the corresponding quarter previous year.

TATA Power: Tata Power Company has signed a Memorandum of Understanding (MoU) with JLL India to promote green energy solutions in the realty space. Under the collaboration, both the companies will jointly evaluate opportunities across JLL India’s clients’ portfolios to extend Tata Power's Green Energy solutions.


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