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StockAxis Weekly Newsletter July 30, 2022

Equity benchmark indices continue to log weekly gains aided by Metals and IT.

Indian Markets

Equity benchmark indices logged healthy gains aided by Metal, Media and IT stocks. S&P BSE Sensex grew (+2.67%) to 57,570 for the week ending July 29th while the NSE Nifty50 grew (+2.67%) to 17,158.

On the sectoral front, NiftyMetal (+7.69%), NiftyMedia (+5.17%), NiftyIT (+3.49%) and NiftyBank (+2.05%) outperformed the NSE Nifty 50 index while NiftyFMCG (-0.04%), NiftyPSUBank (-0.11%) and NiftyAuto (-0.72%) underperformed the index.

The India VIX was -0.6% to 16.55.

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

Date FIIs DIIs
25-07-2022 -844.78 -72.26
26-07-2022 -1548.2 999.36
27-07-2022 -436.81 712.03
28-02-2022 1637.6 600.29
29-02-2022 1046.3 -0.91

News Update

Infosys: The revenue zoomed 24.51% to Rs. 295270.00 millions for the quarter ended June 2022 as compared to Rs. 237140.00 millions during the corresponding quarter last year.Net profit for the quarter ended June 2022 increases to Rs. 49010.00 millions from Rs. 47230.00 millions. Operating profit for the quarter ended June 2022 rose to 75790.00 millions as compared to 71010.00 millions of corresponding quarter ended June 2021.

ICICI Bank: The bank has reported a rise of 49.59% in its net profit at Rs 6,904.94 crore for the quarter under review as compared to Rs 4,616.02 crore for the same quarter in the previous year. Total income of the bank increased by 16.23% at Rs 28,336.74 crore for Q1FY23 as compared Rs 24,379.27 crore for the corresponding quarter previous year. On the consolidated basis, the bank has reported a rise of 55.05% in its net profit at Rs 7,384.53 crore for the quarter under review as compared to Rs 4,762.77 crore for the same quarter in the previous year. Total income of the bank increased by 10.94% at Rs 39,218.33 crore for Q1FY23 as compared Rs 35,351.97 crore for the corresponding quarter previous year.

Glenmark Pharma: Company’s fully owned subsidiary -- Glenmark Pharmaceuticals Inc., USA (Glenmark) is recalling 98,307 packs of Mometasone Furoate Topical Solution, a medication used to treat skin conditions such as eczema, psoriasis, allergies, and rash. The company is recalling the lot, which rolled out from the company's Baddi (Himachal Pradesh) plant, due to Defective Container.

Sun Pharma: US-based unit is recalling 50,680 vials of Testosterone Cypionate Injection, used to treat low testosterone in adult males, in the American market. The company is recalling the affected lot due to 'water leakage' leading to deviation from current good manufacturing practices (cGMP). The company is also recalling 27 vials of the same medication due to cGMP deviations. The affected lot was produced at Sun Pharma's Halol (Gujarat) based manufacturing plant.

ONGC: Company has entered into gas sale agreements with GAIL India and Assam Gas Company (AGCL) to monetise its upcoming field at Khubal in North Tripura district. Under the agreement, the GAIL and AGCL will receive 50,000 standard cubic metre of gas each from Khubal Gas Gathering Station (GGS).

Kotak Mahindra Bank: The bank has reported a rise of 26.14% in its net profit at Rs 2,071.15 crore for the quarter under review as compared to Rs 1,641.92 crore for the same quarter in the previous year. Total income of the bank increased by 9.59% at Rs 8,582.25 crore for Q1FY23 as compared Rs 7,831.56 crore for the corresponding quarter previous year. On the consolidated basis, the bank has reported a rise of 52.56% in its net profit at Rs 2,755.39 crore for the quarter under review as compared to Rs 1,806.09 crore for the same quarter in the previous year. However, total income of the bank decreased by 7.26% at Rs 11,658.94 crore for Q1FY23 as compared Rs 12,571.61 crore for the corresponding quarter previous year.

Mahindra & Mahindra: Mahindra Tractors, part of Mahindra & Mahindra’s (M&M) Farm Equipment Sector, has received four awards at the third edition of the prestigious Indian Tractor of the Year (ITOTY) awards 2022 in New Delhi. The awards are ‘Indian Tractor of the Year 2022 for the Mahindra 575 DI XP Plus’, ‘Best Tractor Above 60HP for the Mahindra Novo 755 DI’, ‘India’s Fastest Growing Tractor Manufacturer’ and ‘BEST CSR INITIATIVE 2022 for Mahindra Shree Child Scholarship Program’.

Intellect Design Arena: Consumer banking arm of the company - Intellect Global Consumer Banking (iGCB) has bagged order from Mineral Development Bank to transform its banking solutions. The company will implement iGCB’s Intellect Digital Core for the bank.

Hindustan Unilever (HUL): Company is planning to invest Rs 700 crore by 2025 at its new unit, a state-of-the-art spray dried detergent factory and co-located distribution centre in Bundelkhand. The unit will significantly boost the production capacity of spray dried detergent powder, making the factory the largest volume strategic sourcing site for the Company by 2025.

HDFC: Company is planning to raise up to Rs 11,000 crore by issuing secured redeemable non-convertible debentures (NCDs). The base issue size is Rs 4,000 crore with an option to retain oversubscription of up to Rs 7,000 crore.

TCS: Company is now offering its suite of innovative sustainability solutions on the Microsoft Cloud for Sustainability, to help clients plan, design and implement their ESG strategies.

Tech Mahindra: Company has signed a Memorandum of Understanding (MoU) with Mahindra University, for the setting up of Makers Lab to spearhead Research & Development (R&D) in Quantum Computing, XAI (Explainable AI), and Metaverse.

HDFC Bank: Company subsidiary - HDFC Securities has entered into partnership with one of the leading SFBs, Equitas Small Finance Bank to provide its clients with a Demat account and its broking/investment services.

Astec Lifesciences: The sales for the June 2022 quarter moved up 43.22% to Rs. 1842.66 millions as compared to Rs. 1286.57 millions during the corresponding quarter last year.A slender decline of -12.21% was recorded to Rs. 113.90 millions from Rs. 129.74 millions in the corresponding previous quarter. Operating profit surged to 281.59 millions from the corresponding previous quarter of 254.76 millions.

Mahindra & Mahindra (M&M): Company has partnered with Visteon Corporation to bring world-class, transformative in-vehicle experiences to the all-new Scorpio-N, utilizing the 3rd Generation Snapdragon Cockpit Platforms from Qualcomm Technologies, Inc.

Lupin: Company has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA), Azilsartan Medoxomil Tablets, 40 mg and 80 mg, to market a generic equivalent of Edarbi Tablets, 40 mg and 80 mg, of Azurity Pharmaceuticals, Inc. The product will be manufactured at Lupin’s facility in Nagpur, India. Azilsartan Medoxomil Tablets (RLD Edarbi) had estimated annual sales of $101 million in the U.S. (IQVIA MAT March 2022).

TATA Steel: The Revenue for the quarter ended June 2022 of Rs. 320210.90 millions grew by 15.64 % from Rs. 276895.50 millions. The Company to register a -30.36% fall in the net profit for the quarter ended June 2022.The company reported a degrowth in operating Profit to 103036.50 millions from 135813.20 millions.

Hero Motocorp: Company has launched its latest edition of the iconic Super Splendor in Canvas Black Edition. With a premium bold design and updated technology, the new Hero Super Splendor Canvas Black Edition comes with the triple promise of Super - Power, Super - Mileage and Super - Comfort. It provides enhanced fuel efficiency, up by 13%, with a best-in-segment mileage of 60-68 kmpl and is power-packed with exciting new features such as a new Digi Analog Cluster, an Integrated USB Charger, Side-Stand Engine Cut-off and a refreshed look.


NIFTY 17,698.15 0.22% SENSEX 59,462.78 0.22% BANKNIFTY 39,042.30 0.42% ADANIPORTS 788.35 -0.56% ASIANPAINT 3,427.85 0.67% AXISBANK 760.55 0.22% BAJAJ-AUTO 4,038.00 0.11% BAJAJFINSV 15,765.45 0.18% BAJFINANCE 7,309.40 -0.13% BHARTIARTL 709.70 -0.01% BPCL 333.90 1.69% BRITANNIA 3,659.75 0.53% CIPLA 1,027.15 -1.08% COALINDIA 221.65 1.40% DRREDDY 4,260.80 0.06% EICHERMOT 3,210.15 1.06% GAIL 131.50 2.22% GRASIM 1,622.60 1.41% HCLTECH 956.40 -0.62% HDFC 2,456.40 0.06% HDFCBANK 1,485.15 -0.04% HEROMOTOCO 2,761.90 -0.84% HINDALCO 436.25 0.63% HINDUNILVR 2,594.95 -0.72% IBULHSGFIN 124.75 0.44% ICICIBANK 874.40 1.71% INDUSINDBK 1,080.45 0.12% INDUSTOWER 196.45 0.69% INFY 1,594.10 -1.60% IOC 71.55 0.85% ITC 308.55 0.75% JSWSTEEL 678.20 0.68% KOTAKBANK 1,841.20 -0.66% LT 1,846.45 -1.11% M&M 1,259.45 -0.53% MARUTI 8,699.20 -1.30% NTPC 158.50 3.16% ONGC 139.20 4.82% POWERGRID 228.05 2.33% RELIANCE 2,633.00 1.62% SBIN 530.70 1.13% SUNPHARMA 913.45 -0.83% TATAMOTORS 477.55 0.19% TATASTEEL 112.65 3.25% TCS 3,401.55 -0.61% TECHM 1,065.90 -1.05% TITAN 2,471.95 -0.02% ULTRACEMCO 6,559.30 -0.57% UPL 788.90 2.79% VEDL 262.45 2.30% WIPRO 436.10 -0.54% YESBANK 15.30 -0.65% ZEEL 241.80 -2.52%