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Asian stocks were headed for a mixed open amid bets that Federal Reserve policy will remain tight to prevent a flare-up in inflation despite signs that price increases are easing. Contracts for benchmarks in Hong Kong rose while those for Australian equities fell. US equity futures edged higher after the S&P 500 index pared a gain of as much as 1.3% to close little changed on Thursday.Meanwhile, Brent crude was trading at $86.42 a ba... Asian stocks were headed for a mixed open amid bets that Federal Reserve policy will remain tight to prevent a flare-up in inflation despite signs that price increases are easing. Contracts for benchmarks in Hong Kong rose while those for Australian equities fell. US equity futures edged higher after the S&P 500 index pared a gain of as much as 1.3% to close little changed on Thursday. Meanwhile, Brent crude was trading at $86.42 a barrel and West Texas Intermediate was below the $83-mark. The yield on the 10-year U.S. bond was trading at 4.11% and Bitcoin was below 30,000-level. At 5:58 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was down 53 points or 0.27% at 19,547. India's benchmark stock indices traded lower through Thursday after the RBI asked all scheduled banks to maintain an incremental cash reserve ratio while maintaining the status quo on policy rates. Fast-moving consumer goods followed by banking and financial stocks fell the most. The S&P BSE Sensex closed 308 points down, or 0.47%, at 65,688.18, while the NSE Nifty 50 ended 90 points, or 0.46%, lower at 19,543.10. Overseas investors remained net buyers of Indian equities. Foreign portfolio investors mopped up stocks worth Rs 331.22 crore and domestic institutional investors turned net buyers and bought stocks worth Rs 703.72 crore, according to provisional data from the National Stock Exchange. The local currency strengthened 10 paise to close at Rs 82.72 against the U.S dollar. The yield on the 10-year bond closed marginally lower at 7.15%. Stocks To Watch HCL Tech: The company has won a $2.1-billion contract from Verizon Communications to manage the networks for the business customers of U.S.' biggest telecom operator by subscribers. The deal, with a total contract value of $2.1 billion over the next six years, will see Verizon Business lead sales and development, while HCLTech will take care of post-sale network rollout and support. Adani Enterprises: The company said no such event concerning the media report on exiting Wilmar venture which requires any disclosure. NBCC India: The company awarded an order for redevelopment of GPRA Colony at Sarojini Nagar, New Delhi to Varindera Constructions for a total contract value of Rs 955.8 crore. DLF, Medanta: The companies entered into a 50:50 joint venture in a special purpose vehicle to set up a 400-bed multi-specialty hospital hospital in Delhi. SJVN: The company's subsidiary SJVN Green Energy has bagged the 90 MW floating solar project at the Omkareshwar reservoir, Madhya Pradesh. The project cost is Rs 610 crore. It also signed an MoU with ONGC for joint development of renewable energy projects and with Sambhar Salts for development of solar project/park in phases. Zee Entertainment Enterprises: The company's unit Zee Studios entered into a share purchase agreement with Elitecast Media to sell Zee Unimedi for Rs 2.4 crore. Carysil: The company acquired 43,379 square meters of land in Bhavnagar, Gujarat, opposite to its existing factory, at the cost of Rs 9.07 crore for the future expansion and the new projects, if any. Results Post Market Hours Hero MotoCorp Q1FY24 (Standalone, YoY) Revenue up 4% to Rs 8,767.3 crore Vs Rs 8,392.5 crore (Bloomberg Estimate: Rs 8,958 crore) Net profit up 32% at Rs 824.7 crore vs Rs 624.5 (Bloomberg Estimate: Rs 876 crore) Ebitda up 28% at Rs 1206.2 crore vs Rs 940.8 crore (Bloomberg Estimate: Rs 1,185 crore) Margins at 13.8% vs 11.2% (Bloomberg Estimate: 13.2%). LIC Q1FY24 (Standalone, YoY ) Net profit up 1298% to Rs 9,544 crore Vs Rs 683 crore. Revenue up 12% at Rs 1.89 lakh crore Vs Rs 1.69 lakh crore (BBG estimate: Rs 1.28 lakh crore) VNB down 7% at Rs 1,302 crore Vs Rs 1,397 crore VNB margin at 13.7% versus 13.6%. Biocon Q1FY24 (Consolidated, YoY) Revenues up 60% at Rs 3,423 crore vs Rs 2,140 crore (Bloomberg Estimate: Rs 3,355 crore) Net profit down 30% at Rs 101 crore Vs Rs 144 crore (Bloomberg Estimate: Rs 157 crore) Ebitda up 79% at Rs 714 crore vs Rs 399 crore (Bloomberg Estimate: Rs 829 crore) Margins at 20.9% vs 18.7% (Bloomberg Estimate: 24.7%) Container Corp Q1 FY23 (Consolidated, YoY) Revenue fell 3.5% to Rs 1,923 crore Vs Rs 1,994 crore Ebitda fell 17% to Rs 395.82 crore Vs Rs 478.81 crore Ebitda margin 20.6% Vs 24% Net profit fell 17% to Rs 245.19 crore Vs Rs 296.83 crore (Bloomberg estimate: Rs 301 crore) Mazagon Dock Shipbuilders Q1FY2024 (Consolidated, YoY) Revenue down 2.58% at Rs 2,172.76 crore vs Rs 2,230.32 crore. Ebitda down 1.14% at Rs 171.69 crorevs Rs 173.68 crore. Margins at 7.9% vs 7.78% Net profit up 39.84% at Rs 314.34 crore vs Rs 224.78 crore. Sanofi India Q2CY2023 (Consolidated, YoY) Revenue down 51.05% at Rs 706.1 cr vs Rs 1,442.6 crore Ebitda down 56.33% at Rs 178.2 crore vs Rs 408.1 crore Margins at 25.23% vs 28.2% Net profit down 60.77% at Rs 122.9 crore vs Rs 313.3 crore NCC Q1FY2024 (Consolidated, YoY) Revenues up 31.88% at Rs 4,380.39 crore vs Rs 3,321.35 crore. Ebitda up 32.91% at Rs 409.21 crore vs Rs 307.87 crore. Margins at 9.34% vs 9.26% Net profit up 33.57% at Rs 174.36 crore vs Rs 130.54 crore. Chemplast Sanmar Q1FY2024 (Consolidated, YoY) Revenues down 29.39% at Rs 996.41 crore vs Rs 1,411.3 crore Net loss of Rs 63.97 crore vs net Profit of Rs 40.59 crore Ebitda loss of Rs 34.52 crore vs ebitda of Rs 194.14 crore Steel Authority of India Q1FY2024 (Consolidated, YoY) Revenue up 1% at Rs 24,359.10 crore vs Rs 24,028.62 crore (Bloomberg estimate: Rs 23,607.5 crore). Net profit down 74% at Rs 212.48 crore vs Rs 804.5 crore (Bloomberg estimate: Net loss of Rs 67.27 crore). Ebitda down 28% at Rs 1,648.82 crore vs Rs 2,301.55 crore (Bloomberg estimate: Rs 1.518.60 crore). Ebitda margin at 6.8% vs 9.6% (Bloomberg estimate: 6.4%). MTAR Technologies Q1FY2024 (Consolidated, YoY) Revenue up 67.6% at Rs 152.56 crore vs Rs 91.01 crore. Ebitda up 38.3% at Rs 34.52 crore vs Rs 24.95 crore. Ebitda margins at 22.63% vs 27.42%. Net profit up 25.4% at Rs 20.34 crore vs Rs 16.22 crore. Kirloskar Oil Engines Q1FY2024 (Consolidated, YoY) Revenue up 29.5% at Rs 1,543.37 crore vs Rs 1,191.41 crore. Ebitda up 52.7% at Rs 264.18 crore vs Rs 173.03 crore. Ebitda margins at 17.12% vs 14.52%. Net profit up 53% at Rs 125.53 crore vs Rs 82.06 crore. Apollo Micro Systems Q1FY2024 (Consolidated, YoY) Revenue up 2.5% at Rs 57.69 crore vs Rs 56.27 crore. Ebitda up 28.8% at Rs 12.74 crore vs Rs 9.89 crore. Ebitda margins at 22.09% vs 17.58%. Net profit up 1% at Rs 1.65 crore vs Rs 1.64 crore. Oriental Aromatics Q1FY2024 (Consolidated, YoY) Revenue down 16.2% at Rs 195.69 crore vs Rs 233.55 crore. Ebitda down 94.4% at Rs 0.92 crore vs Rs 16.42 crore. Ebitda margins at 0.47% vs 7.03%. Net loss of Rs 6.05 crore vs net profit of Rs 8.41 crore. Torrent Power Q1FY2024 (Consolidated, YoY) Revenue up 12.6% at Rs 7,327.62 crore vs Rs 6,510.31 crore. (Bloomberg Estimate: Rs 7,033 crore) Ebitda up 11.7% at Rs 1,184.78 crore vs Rs 1,060.42 crore. (Bloomberg Estimate: Rs 1,289.77 crore) Ebitda margins at 16.17% vs 16.29%. (Bloomberg Estimate: 17.40%) Net profit up 6% at Rs 532.28 crore vs Rs 502.01 crore. (Bloomberg Estimate: Rs 592.50 crore) NBCC India Q1FY2024 (Consolidated, YoY) Revenue up 6.6% at Rs 1,917.87 crore vs Rs 1,799 crore. Ebitda up 9.1% at Rs 57.16 crore vs Rs 52.37 crore. Ebitda margins at 2.98% vs 2.91%. Net profit of Rs 77.41 crore vs net loss of Rs 4.85 crore. Ashoka Buildcon Q1FY2024 (Consolidated, YoY) Revenue up 3% at Rs 1,935.16 crore vs Rs 1,879.38 crore. Ebitda down 2.4% at Rs 473.30 crore vs Rs 484.78 crore. Ebitda margins at 24.46% vs 25.79%. Net profit down 46.5% at Rs 71.98 crore vs Rs 134.66 crore. Paramount Communications Q1FY2024 (Consolidated, YoY) Revenue up 28.6% at Rs 210.54 crore vs Rs 163.73 crore. Ebitda up 2.15 times at Rs 16.78 crore vs Rs 7.79 crore. Ebitda margins at 7.97% vs 4.76%. Net profit up 2.06 times at Rs 14.53 crore vs Rs 7.03 crore. Global Health Q1FY2024 (Consolidated, YoY) Revenue up 25.2% at Rs 773.04 crore vs Rs 617.45 crore. Ebitda up 34.2% at Rs 177.88 crore vs Rs 132.55 crore. Ebitda margins at 23.01% vs 21.47%. Net profit up 73.7% at Rs 102.01 crore vs Rs 58.71 crore. HealthCare Global Enterprises Q1FY2024 (Consolidated, YoY) Revenue up 12.9% at Rs 459.71 crore vs Rs 407.31 crore. Ebitda up 2.7% at Rs 73.34 crore vs Rs 71.42 crore. Ebitda margins at 15.95% vs 17.53%. Net profit up 47.2% at Rs 3.65 crore vs Rs 2.48 crore. G R Infraprojects Q1FY2024 (Consolidated, YoY) Revenue down 7.9% at Rs 2,478.23 crore vs Rs 2,692.15 crore. Ebitda down 11.6% at Rs 607.36 crore vs Rs 687.04 crore. Ebitda margins at 24.51% vs 25.52%. Net profit down 23.5% at Rs 309.84 crore vs Rs 404.86 crore. BMW Industries Q1FY2024 (Consolidated, YoY) Revenue up 16.1% at Rs 157.52 crore vs Rs 135.68 crore. Ebitda up 36.9% at Rs 36.69 crore vs Rs 26.79 crore. Ebitda margins at 23.29% vs 19.75%. Net profit up 80.5% at Rs 15.57 crore vs Rs 8.63 crore. Orchid Pharma Q1FY2024 (Consolidated, YoY) Revenue up 39.6% at Rs 182.92 crore vs Rs 130.99 crore. Ebitda up 77.9% at Rs 22.14 crore vs Rs 12.45 crore. Ebitda margins at 12.10% vs 9.50%. Net profit at Rs 9.40 crore vs net loss of Rs 15.01 crore. Dollar Industries Q1FY2023 (Consolidated, YoY) Revenue down 9.2% at Rs 328.24 crore vs Rs 361.67 crore Ebitda down 27.2% at Rs 27.11 crore vs Rs 37.22 crore Ebitda margins at 8.6% vs 10.26% Net profit down 43.9% at Rs 15.13 crore vs Rs 26.97 crore. Ugar Sugar Works Q1FY2024 (Consolidated, YoY) Revenue down 41.6% at Rs 217.67 crore vs Rs 372.78 crore. Ebitda down 75% at Rs 6.12 crore vs Rs 24.46 crore. Ebitda margins at 2.81% vs 6.56%. Net loss of Rs 9.14 crore vs net profit of Rs 5.74 crore. Earnings In Focus Nykaa, ABB India, Apollo Hospitals Enterprises, Astral, Glenmark Pharmaceuticals, Godrej Industries, Hindustan Aeronautics, Indian Railway Finance Corporation, Jindal Saw, Jindal Steel & Power, National Aluminimum Company, ONGC, Patanjali Foods, Pfizer, Voltas, Archean Chemical Industries, Abans Holdings, Cochin Shipyard, City Union Bank, DB Realty, Elgi Equipments, Orient Green Power Company, Marksans Pharma, MTNL, Info Edge (India), SpiceJet, The New India Assurance Company, NHPC, NMDC, PNC Infratech, Shree Renuka Sugars, Timken India, TV Today Network, Uttam Sugar Mills, Bombay Burmah Trading Corp, BF Investment, Camlin Fine Sciences, Capacite Infraprojects, Carysil, Electronics Mart India, Galaxy Surfactants, GE Power India, GOCL Corporation, TTK Prestige, Gufic Biosciences, HBL Power Systems, HEG, Hi-Tech Pipes, Hindustan Foods, ISGEC Heavy Engineering, ITI, Kennametal India, Shakti Pumps (India), Vinati Organics, Zydus Lifesciences, Raymond, Power Finance Corp, Muthoot Finance, Kalpataru Projects Internation, Jamna Auto Industries, Sun TV Network. IPO Offerings TVS Supply Chain Solutions: On its first day, the IPO was subscribed 0.55 times, or 55%. The bids were led by retail investors, subscribed 1.72 times, non-institutional investors, subscribed 0.69 times or 69% and institutional investors, subscribed 0.08 times or 8%. Bulk Deals Tata Motors: Citibank NA sold 3.5 crore shares (1%) at Rs 598.77 apiece. CMS Info Systems: Sion Investment Holdings sold three crore shares (19.4%) at Rs 357.17 apiece. Nomura India Investment Fund bought 43 lakh shares (2.8%) at Rs 356 apiece, Bonanza Commodity Brokers bought 27.2 lakh shares (1.7%) at Rs 360.49 apiece, Massachusetts Institute of Technology bought 26.5 lakh shares (1.7%) at Rs 356 apiece, ICICI Prudential MF bought 14 lakh shares (0.9%) at Rs 356 apiece, Nomura Funds Ireland Public bought 12 lakh shares (0.8%) at Rs 356 apiece, Goldman Sachs India Fund bought 11.9 lakh shares (0.8%) at Rs 356 apiece, Abu Dhabi Investment Authority bought 11.2 lakh shares (0.7%) at Rs 356 apiece, among others. Piramal Pharma (RE): LIC sold 16.6 lakh shares at Rs 15.65 apiece and BNP Paribas bought 8.4 lakh shares at Rs 16.09 apiece. Dreamfolks Services: Aditya Birla Sun Life MF sold 4.5 lakh shares (0.8%) at Rs 577.06 apiece. KPR Mill: KPR Developers sold 18 lakh shares (0.5%) at Rs 634 apiece. Insider Trades Refex Industries: Promoter Sherisha Technologies bought 28,300 shares on Aug. 9. Zydus Wellness: Promoter Zydus Family Trust bought 52,285 shares on Aug. 8. Ultramarine & Pigments: Promoters S Narayanan and Daya Sridhar sold 15,000 shares and 20,453 shares respectively on Aug. 9. Pledge Share Details Centrum Capital: Promoter Business Match Services created pledge of 48 lakh shares on Aug. 8 and released a pledge of 20 lakh shares on Aug. 9. AGMs Today Aditya Birla Sun Life AMC, Andhra Paper, Apar Industries, Astral, Avanti Feeds, Berger Paints, Biocon, Chemplast Sanmar, Dalmia Bharat Sugar and Industries, EPL, Godrej Industries, HDFC Bank, Ingersoll-Rand, ITC, JK Cement, Jtekt India, Marico, MTAR Technologies, Mukand, Sapphire Foods India, Sterlite Technologies, Sudarshan Chemicals, Ultratech Cement, Vishnu Chemicals, Zydus Lifesciences. Trading Tweaks Ex-date Dividend: CCL Products, Tinplate Company of India, Federal Bank, Bandhan Bank, Bharti Airtel, Bharat Heavy Electricals, BPCL, City Union Bank, Divi’s Laboratories, Endurance Technologies, Godfrey Phillips India, Grasim Industries, JK Lakshmi Cement, Kolte-Patil Developers, Kovai Medical Center & Hospital, Kalyani Steels, Dr. Lal PathLabs, Samvardhana Motherson International, NTPC, Pfizer, PI Industries, Pitti Engineering, Uniphos Enterprises, Wonderla Holidays, Indo Count Industries. Ex-date Interim Dividend: Balkrishna Industries. Ex-date Amalgamation: Max Ventures and Industries. Ex-date AGM: Tinplate Company of India, Federal Bank, Balrampur Chini Mills, Bharti Airtel, Grasim Industries, Kolte - Patil Developers, JK Lakshmi Cement, Kovai Medical Center & Hospital, Uniphos Enterprises, PI Industries, Kalyani Steels, Godfrey Phillips India, Indo Count Industries, Pitti Engineering, Bandhan Bank, Endurance Technologies, Samvardhana Motherson International. Record-date Dividend: CCL Products, Bharti Airtel, Bharat Heavy Electricals, BPCL, City Union Bank, Divi’s Laboratories, Kovai Medical Center & Hospital, Dr. Lal PathLabs, NTPC, Pfizer, PI Industries, Wonderla Holidays. Record-date Amalgamation: Max Ventures and Industries. Move Into Short-Term ASM Framework: Gland Pharma, Orient Cement, Rattanindia Enterprises. Move Out Of Short-Term ASM Framework: Dilip Buildcon, Jain Irrigation Systems, Orient Green Power. Who's Meeting Whom? Sheela Foam: To meet investors and analysts from Aug 16 till Aug 18 F&O Cues Nifty August futures ended at 19,599.00, a discount of 90.60 points. Nifty August futures fell 1.11%, with 2,452 shares in open interest. Nifty Bank August futures ended at 44,751.10, a discount of 279.35 points. Nifty Bank August futures rose 12.26% with 13,677 shares in open interest. Securities in the ban period: Hindustan Copper, Indianbulls Housing Finance, Balrampur Chini Mills, Delta Corp, Chambal Fertilizers & Chemicals, Zee Entertainment Enterprises, Manappuram Finance, Granules India. Can Fin Homes. Money Market Update Indian rupee closed 0.13% lower at 82.72 against the U.S. dollar on Thursday. Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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