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Asian stocks were poised to start the new month higher, following the bullish mood on Wall Street that saw the S&P 500 finish July with its longest streak of monthly gains in almost two years.Japanese, Hong Kong and Australian futures pointed to gains in early trading Tuesday as concerns dissipated that equity markets could become overheated and company earnings may decline.On Monday, the S&P 500 edged higher to around 4,590 points, ... Asian stocks were poised to start the new month higher, following the bullish mood on Wall Street that saw the S&P 500 finish July with its longest streak of monthly gains in almost two years. Japanese, Hong Kong and Australian futures pointed to gains in early trading Tuesday as concerns dissipated that equity markets could become overheated and company earnings may decline. On Monday, the S&P 500 edged higher to around 4,590 points, closing at a 16-month high. The Nasdaq 100 notched its longest streak of monthly gains since August 2020. Meanwhile, Brent crude was trading around $85 a barrel and West Texas Intermediate was below the $82-mark. The yield on the 10-year U.S. bond was trading at 3.96% and Bitcoin was below 30,000-level. At 5:32 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was up 53 points or 0.26% at 19,894.5. India's benchmark stock indices held on to steady gains on Monday after a lower open. The indices snapped two days of losses to end higher in trade. The S&P BSE Sensex Index closed up 368 points, or 0.56%, at 66,527.67, while the NSE Nifty 50 Index was 108 points, or 0.55%, higher at 19,753.80. The local currency closed flat at 82.25 against the U.S. dollar on Monday. Overseas investors in Indian equities remained net sellers on Monday for the third straight session. Foreign portfolio investors offloaded stocks worth Rs 701.17 crore, while domestic institutional investors mopped up stocks worth Rs 2,488.07 crore. Stocks To Watch Maruti Suzuki: The car maker approved to terminate contract manufacturing agreement with Suzuki Motor Gujarat Ltd. It exercised option to acquire shares of Suzuki Motor Gujarat from Suzuki Motor Corporation South Indian Bank: The lender has agreed to raise funds via QIP, FPO and other methods. It will raise Rs 1000 crore via QIP, FPO, Rights Issue and other methods. It has also agreed to additionally raise Rs 500 crore via debt. State Bank of India : The lender has raised Rs 10,000 crore via infrastructure bond issue at coupon rate of 7.54%.The tenor of these bonds is 15 years. The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment. EaseMyTrip : The company will buy 51% stake each in Guideline, Tripshope and Dook in all stock deal. The consideration will be paid by issuing equity shares to the selling shareholders of the companies on a preferential basis. Gas company stocks : To be in focus after domestic natural gas price were raised from August 1-30, 2023. Domestic natural gas price raised to $7.85/mmBtu from $7.48/mmBtu. Price for gas from ONGC and OIL nomination fields will have a ceiling of $6.50/mmBtu on gross calorific value basis. InterGlobe Aviation: DGCA gave approval to Air India and IndiGo for importing aircraft. Rail Vikas Nigam : The company has received a Letter of Award for Packages 16 and 17 from Madhya Pradesh Poorv Kshetra Vidyut Vitran Company. The project cost for package 16 and 17 is Rs. 149.63 crore and Rs 182 respectively. The order is scheduled to be executed withing 24 months. Oberoi Realty : The company has approved the merger of Oberoi Constructions Ltd., Oberoi Mall Ltd., and Evenstar Hotels Pvt. Ltd. with Oberoi Realty. Incline Realty Pvt. Ltd will not be merged, as opposed to earlier, due to commercial reasons. Larsen and Toubro: The conglomerate's unit L&T Realty Developers Ltd. incorporated a new wholly owned subsidiary - LH Residential Housing Ltd. The authorised capital for the new subsidiary stands at Rs 10 lakh. The company has incorporated LH Residential Housing for development of real estate and infrastructural facilities. SRF : The board has approved a project to setup a new and dedicated facility to produce advanced intermediates for Agrochemicals at Dahej, Gujarat. The project will be commissioned and capitalized at an aggregate cost of around Rs 256 crore. PG Electroplast: The company has acquired 5,000 equity shares of Rs 10 each of Goodworth Electronics Private Ltd., a joint venture company between PG Electroplast and Jaina Marketing & Associates. Both the parties now hold 50-50% stake in the joint venture Company. LIC Housing Finance: Managing Director and Chief Executive Office Y Viswanatha Gowd has resigned with effect from July 31 Coromandel International: The company's subsidiary Coromandel Technology has acquired 32.68% equity stake in Dhaksha Unmanned Systems, taking its total stake in the company to 51.02%. Prism Johnson: The company has acquired 1.38 crore equity shares of unit Raheja QBE General Insurance company on rights basis, aggregating to Rs 20.41 crore. Results Announced Post Market Hours Maruti Suzuki Q1 FY24 (Standalone, YoY) Revenue are up 22% at Rs 32,326.9 crore vs Rs 26,499.8 crore (Bloomberg Estimate: Rs 31,832.8 crore). Net profit is up 145.4% at Rs 2,485.1 crore vs. Rs 1,012.8 crore (Bloomberg Estimate: Rs 2,466.3 crore). Ebitda is up 56% at Rs 2,983 crore vs. Rs 1,912.1 crore (Bloomberg Estimate: Rs 3,240.9 crore). Margins at 9.2% vs. 7.2% (Bloomberg Estimate: 10.2%) Petronet LNG Q1 FY24 (Consolidated, YoY) Revenue down 18.3% at Rs 11,656.4 crore vs Rs 14,263.8 crore. Net profit up 13% at Rs 819.3 crore vs. Rs 724.8 crore. Ebitda is up 11% at Rs 1,181.7 crore vs. Rs 1,064.8 crore. Margins at 10.1% vs. 7.5%. Adani Energy Solutions Q1 FY24 (Consolidated, YoY) Revenue is up 19% at Rs 3,622 crore vs. Rs 3,049 crore. Net profit up 8% at Rs 182 crore vs. Rs 168 crore. Ebitda up 4% at Rs 1,378 crore vs. Rs 1,326 crore. Cash profit is down 11% at Rs 649 crore vs. Rs 730 crore. Som Distilleries (Consolidated, YoY) Revenue up 51.39% at Rs 385.01 crore vs Rs 254.31 crore Net profit up 31.22% at Rs 33.66 crore vs Rs 25.65 crore Ebitda up 42.25% at Rs 48.51 crore vs Rs 34.1 crore Margins at 12.591% vs 13.40% H.G. Infra Engineering (Consolidated, YoY) Revenue up 22.18% at Rs 1,351.16 crore vs Rs 1,105.90 crore Ebitda up 41% at Rs 280.72 crore vs Rs 199.01 crore Margins at 20.8% vs 17.9% Net profit up 37.4% at Rs 150.4 crore vs Rs 109.4 crore KEI Industries (Consolidated, YoY) Revenues up 13.9% at Rs 1,782.57 crore vs Rs 1,565.41 crore Ebitda up 11.7% at Rs 178.3 crore vs Rs 159.6 crore Margins at 10% vs 10.2% Net profit up 16.98% at Rs 121.4 crore vs Rs 103.8 crore Power Grid Q1FY24 (Consolidated, YoY) Revenue up 1.31% at Rs 11,048.13 crore vs Rs 10,905.21 crore Ebitda up 4.69% at Rs 9,682.6 crore vs Rs 9,249.23 crore Ebitda margins at 87.6% vs 84.8% Net profit down 5.37% at Rs 3,597.16 crore vs Rs 3,801.29 crore JBM Auto (Consolidated, YoY) Revenue up 9.38% at Rs 946.22 crore vs Rs 865.03 crore Net profit up 16.7% at Rs 30.28 crore vs Rs 25.93 crore Ebitda up 38.04% at Rs 115.45 crore vs Rs 83.63 crore Margins at 12.2% vs 9.6% Bosch (Consolidated, YoY) Revenue up 17.32% at Rs 4158.4 crore vs Rs 3544.4 crore Net profit up 22.38% at Rs 408.9 crore vs Rs 334.1 crore Ebitda up 4.09% at Rs 467.9 crore vs Rs 449.5 crore Margins at 11.25% vs 12.68% Oberoi Realty (Consolidated, YoY) Revenue down 0.34% at Rs 909.97 crore vs Rs 913.11 crore Net profit down 20.2% at Rs 321.64 crore vs Rs 403.08 crore Ebitda down 3.74% at Rs 473.73 crore vs Rs 492.17 crore Margins at 52.05% vs 53.9% Earnings In Focus Anant Raj, Anupam Rasayan India, Aptus Value Housing Finance India, Adani Total Gas, Bikaji Foods International, Cholamandalam Investment and Finance, Dalmia Bharat Sugar and Industries, Deep Industries, Elantas Beck India, Escorts Kubota, Gujarat Mineral Development Corp, Godrej Agrovet, Harsha Engineers International, Kirloskar Brothers, K.P.R. Mill, Maharashtra Seamless, Metro Brands, MPS, Orient Cement, Paushak, PVR Inox, Redington, Sansera Engineering, Syrma SGS Technology, Savita Oil Technologies, Thermax, Thyrocare Technologies, Triveni Turbine, Ugro Capital, Welspun Enterprises. Facebook Twitter Who's Meeting Whom Lakshmi Machine Works: To meet investors and analysts on August 2. Home First Finance Company : To meet investors and analysts on August 3 and 4. Tips Industries: To meet investors and analysts on August 3. AGMs Today Artemis Medicare Services, Bosch, Cholamandalam Investment and Finance Company, Fortis, Godrej Agrovet, Kirloskar Brothers, Orient Cement, Paushak, Spandana Sphoorty Financial, Titan, Thermax. Block Deals SG Finserve: Jhanvi Kamlesh Shah bought 2 lakh shares (0.5%) and Vanaja Sundar Iyer bought 5.35 lakh shares (1.5%) while Rahul Gupta sold 3.5 lakh shares (0.8%) and Rohan Gupta sold 3.85 lakh shares (0.9%) at Rs 570.45 apiece. Bulk deals Bandhan Bank: Societe Generale bought 89 lakh shares (0.5%) at Rs 218.6 apiece. Eris Lifesciences: Rakesh Shah sold 20 lakh shares (1.5%) at Rs 783 apiece and Plutus Wealth Management bought 2.21 lakh shares (1.6%) at Rs 783 apiece. Spandana Sphoorty Financial: Padmaja Gangireddy sold 12.5 lakh shares (1.8%) at Rs 830.15 apiece and Goldman Sachs bought 82.6 lakh shares (1.2%) at Rs 830 apiece. Pledge details Hi-Tech Pipes: Promoter Parveen Bansal released a pledge of 2.96 lakh shares on July 31. Insider Trades Sterling and Wilson Renewable Energy: Promoter Shapoorji Pallonji and Company sold eight lakh shares on July 26. Rail Vikas Nigam: The government sold 11 crore shares between July 27 and 28. Trading Tweaks Price Band Revised From 20% To 10%: Lloyds Steels Industries Ex-Date Dividend: Exide Industries, JK Cement, D.B.Corp, Rupa & Company, Sharda Cropchem Ex-date Interim Dividend: D.B. Corp, SRF Ex-date AGM: Exide Industries, JK Cement, Rupa & Company, Sharda Cropchem, CSB Bank, DCM Shriram, Ugro Capital Record-Date Dividend: Sharda Cropchem Record-date Interim Dividend: D.B. Corp, SRF Move Into Short-Term ASM Framework: Mukand, Godfrey Phillips India, Foseco India Move Out Of Short-Term ASM Framework: Jayaswal Neco Industries, Texmaco Infrastructure and Holdings F&O Cues Nifty August futures ended at 19,837, a premium of 85.20 points. Nifty August futures fell 0.17%, with 383 shares in open interest. Nifty Bank August futures ended at 45,869.95, a premium of 171.35 points. Nifty Bank August futures rose 8.05% with 9,682 shares in open interest. Securities in the ban period: Indiabulls Housing Finance, Piramal Enterprises. Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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