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StockAxis Weekly Newsletter August 13, 2022

Sensex, Nifty logged gains for the fourth week aided by Banking and Metal stocks.

Indian Markets

Equity Benchmark Indices continues to gain for thefourth week, led by banking and metal stocks. The S&P BSE Sensex grew (+1.84%) to 59,462.78 in the week ending August 12th, while the NSE Nifty50 grew by (+1.73%) to 17,698.15.

On the sectoral front, only NiftyMetal (+4.6%), NiftyBank (+2.96%), NiftyRealty (+1.22%), outperformed the NSE Nifty50 index and NiftyIT (-0.29%), NiftyPharma (-0.59%), NiftyFMCG (-1.1%), NiftyMedia (-2.08%), underperformed the index.

The India VIX was (-6.9%) to 17.61.

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

Date FIIs DIIs
08-08-2022 1449.7 -140.73
10-08-2022 1061.88 -768.45
11-08-2022 2298.08 -729.56
12-08-2022 3040.46 -839.45

News Update

HDFC: Company has received approval from the National Housing Bank (NHB) for its merger with subsidiary HDFC Bank. The NHB has also approved the merger of two wholly-owned subsidiaries -- HDFC Investments and HDFC Holdings -- of the housing finance company with HDFC.

Tech Mahindra: Company has launched its Strategic Cyber Insights, Powered by X-Analytics - a strategic cyber risk advisory service. Through this new service, Tech Mahindra will break new ground for enterprises that embrace digital transformation or leverage technology to solve complex problems to future-proof business operations incorporating cyber security at the optimum level.

TCS: TCS has been positioned as a Leader in the Gartner Magic Quadrant for SAP S/4HANA Application Services, Worldwide. According to the report, “Leaders have a clear vision of market direction and are actively building competencies to sustain their leadership position in the market. They have built a considerable S/4HANA track record and capabilities across multiple industries, geographies, deployment approaches or modules.

Larsen & Toubro’s: (L&T) construction arm - L&T construction has secured an order from Nuclear Power Corporation of India (NPCIL) for its Heavy Civil Infrastructure (HCI) Business to build natural draught cooling towers and a cooling water pump house for the Rawatbhata atomic power project -7&8.

VRL Logistics: The turnover zoomed to Rs. 717.1 crores, up 73.31% for the June 2022 quarter as against Rs. 413.7 crores during the year-ago period. The Total Profit for the quarter ended June 2022 of Rs. 49.3 crores grew from Rs.- 6 crores. Operating profit for the quarter ended June 2022 rose to 117.3 crores as compared to 39.5 crores of the corresponding quarter ended June 2021.

Bharti Airtel: Bharti Airtel is planning to start rolling out 5G services in August and cover all towns and key rural areas of the country by March 2024. As per the company, detailed network rollout plans for 5,000 towns in India are completely in place. This will be one of the biggest rollouts in its history.

Eicher Motors: A decent increase of about 70.25% in the turnover to Rs. 3247.9 crores was observed for the quarter ended June 2022. The turnover stood at Rs. 1907.8 crores during the similar quarter previous year. The Total revenue for the quarter ended June 2022 of Rs. 580.1 crores grew by 117.12% from Rs. 267.2 crores.OP of the company witnessed a cr growth to 881.0 crores from 468.4 crores in the same quarter last year.

Bharti Airtel: Bharti Airtel’s subsidiary Airtel Africa has signed up for a $125 million revolving facility from American banking major Citi. The facility involves borrowing both in local currencies and US dollar. The facility has a tenor up to September 2024 and will be used to support Airtel Africa's operations and investments in four of its subsidiaries.

TATA Power: Tata Power and JP Infra Mumbai have joined hands to install 60 plus electric vehicle charging points across all JP Infra's projects viz. JP North Garden City (North Euphoria, North Alexa, North Aviva, Codename Dream Home), North Barcelona, and North Imperia, thus providing end-to-end EV charging solutions to residents for making sustainable mobility achievable.

HPCL: Company has partnered with Honda Motor to set up battery swapping stations for electric vehicles at the state-owned oil firm's petrol pumps. HPCL and Honda Power Pack Energy India, a subsidiary of Honda Motor (Honda), launched their first 'e: swap' station at HPCL's petrol pump in Bengaluru on August 6.

Zomato: Zomato has completed acquisition of 100% shareholding in Blink Commerce India (BCPL) from its shareholders. Accordingly, BCPL became a wholly owned subsidiary of the Company with immediate effect i.e. from August 10, 2022. The board of directors of the company has approved allotment of 62,85,30,012 fully paid-up equity shares of the Company to acquire 33,018 equity shares of BCPL for a total purchase consideration of Rs 4447,47,84,078.

TCS: Company has partnered with Five Star Bank, a subsidiary of Financial Institutions, Inc. on its digital transformation journey, helping it determine lending risk and deliver hyper-personalized customer experiences using the TCS Customer Intelligence & Insights (CI&I) analytics platform.

Hindalco: Hindalco Industries and Greenko Energies have entered into a commercial arrangement to set up a renewable energy (RE) project for supply of 100 MW round-the-clock carbon free power.

Dabur India: It has launched ‘Dabur Vedic Green Tea Detox Kahwa Green Tea’ infused with Ayurvedic Herbs and Rock Salt. The company has launched the said product under its Dabur Vedic Tea portfolio.

Vedanta: Vedanta is targeting to become a $100 billion (around Rs 8 lakh crore) company in another eight years from the present $18 billion (around Rs 1.3 lakh crore). The company is set for an aggressive growth plan and is looking at building capacities across businesses. In the current fiscal it has planned around $2 billion capex investment in sectors like zinc and oil and gas. The company is making an entry into the strategic area of manufacturing semiconductor fab and display fab.

Ashok Leyland: Switch Mobility, the electric vehicle division of Hinduja Group flagship Ashok Leyland, has joined hands with transport technology company Chalo to deploy 5,000 electric buses across the country. The Memorandum of Understanding (MoU) in this regard has been inked for an initial period of three years. Under the partnership, Switch and Chalo will jointly invest to deploy electric buses in cities where Chalo is present.

Cummins India: Cummins India has launched an innovative clear air solution - Retrofit Emission Control Device (RECD) in collaboration with PI Green Innovations. As a part of this contract with PI Green Innovations. Cummins will be marketing RECD through its vast distribution network in India. RECD is built on filterless technology and based on Electrostatic Precipitation fundamentals. It is highly efficient in improving air quality and capturing Particulate Matter (PM) from the air with more than 70% efficiency.

Godrej Properties: Godrej Properties is planning to launch a new luxury housing project in Delhi's Ashok Vihar this year, which has the potential to generate about Rs 8,000 crore sales revenue. The company is waiting for some pending government approvals to launch this 27-acre luxury residential project in Delhi-NCR, its best-performing market last fiscal.

TATA Motors: Tata Motors has rolled out the 1,00,000th unit of Tata Punch, India’s first sub-compact SUV, from its manufacturing facility in Pune. The Tata Punch has set a new benchmark in the industry, by becoming the first SUV to achieve this milestone in a span of 10 months, since its launch in October 2021. It has received a phenomenal response from customers for its stunning design, robust performance and best-in-class 5-star safety.

Apollo Hospitals: Apollo Hospitals Enterprise has reported results for first quarter ended June 30, 2022.

The company has reported over 2-fold jump in its net profit at Rs 333.14 crore for the quarter under review as compared to Rs 150.03 crore for the same quarter in the previous year. Total income of the company increased marginally by 3.29% at Rs 1,540.21 crore for Q1FY23 as compared Rs 1,491.11 crore for the corresponding quarter previous year.

TATA Power: Tata power Delhi Distribution (TPDDL), a joint venture between Tata Power and the Government of NCT of Delhi, has sourced 2,200 million units of green power from renewable sources. With this, the company has become a 100 per cent Renewable Purchase Obligation (RPO) compliant discom for the second consecutive year.

Hero Moto Corp: Taking yet another significant step forward in their journey together in India, Hero MotoCorp and Harley-Davidson have commenced retail sales of the highly anticipated Nightster motorcycle in India. Hero MotoCorp is the exclusive distributor for Harley-Davidson Motorcycles, Parts & Accessories in India.

NIFTY 16,887.35 -1.21% SENSEX 56,788.81 -1.11% BANKNIFTY 38,029.65 -1.56% ADANIPORTS 784.40 -4.42% ASIANPAINT 3,302.90 -1.18% AXISBANK 722.75 -1.43% BAJAJ-AUTO 3,515.35 -0.35% BAJAJFINSV 1,646.60 -1.89% BAJFINANCE 7,171.80 -2.23% BHARTIARTL 803.35 0.43% BPCL 308.80 1.31% BRITANNIA 3,768.95 -1.93% CIPLA 1,130.75 1.42% COALINDIA 214.95 1.27% DRREDDY 4,419.65 1.94% EICHERMOT 3,463.35 -5.67% GAIL 85.15 -2.18% GRASIM 1,636.45 -2.29% HCLTECH 930.25 -0.23% HDFC 2,283.05 -0.21% HDFCBANK 1,413.20 -0.57% HEROMOTOCO 2,525.55 -0.93% HINDALCO 380.95 -2.46% HINDUNILVR 2,622.50 -2.74% IBULHSGFIN 117.55 -1.01% ICICIBANK 848.35 -1.58% INDUSINDBK 1,156.25 -2.44% INDUSTOWER 197.20 -0.13% INFY 1,393.75 -1.39% IOC 66.70 -0.37% ITC 324.40 -2.35% JSWSTEEL 623.55 -1.28% KOTAKBANK 1,783.90 -1.94% LT 1,819.30 -1.54% M&M 1,251.35 -1.33% MARUTI 8,547.00 -3.18% NTPC 160.35 0.44% ONGC 132.40 4.42% POWERGRID 210.80 -0.66% RELIANCE 2,369.50 -0.35% SBIN 519.75 -2.04% SUNPHARMA 944.50 -0.44% TATAMOTORS 397.65 -1.72% TATASTEEL 98.35 -0.96% TCS 2,984.95 -0.65% TECHM 1,005.50 -0.31% TITAN 2,574.20 -1.26% ULTRACEMCO 6,242.55 -0.20% UPL 665.10 -1.03% VEDL 268.35 -0.63% WIPRO 394.50 0.06% YESBANK 15.40 -1.60% ZEEL 252.20 -2.30%