Insight Online News
From Advisory Desk : Vikash Sahay
25th July 2022
Market Outlook: US markets closed lower on friday after the weak earnings report and fresh signs of slowing US economic activity as per the latest PMI data. Even futures were trading slightly lower ahead of major corporate earnings. Signs of deteriorating demand in the global economy weighed on commodities generally, with brent crude oil prices again trading below $100. Indian markets could open lower by a quarter percent largely inline with Asian markets. This week will be an eventful one dominated by major corporate earnings in both US and India, US Fed meeting and other global economic data. So it may be prudent to take some money off the table after the relief rally in the last week. Immediate support for Nifty placed at 16500.
Actionable: Buy ICICI bank, Ramco Cement, Eicher Motors, HDFC Ltd.kb
SGX NIFTY: -70 (prev. close 16725)
NIFTY 50 : 16719
Sensex : 56072
FII: – 675 Cr
DII: + 739 Cr
Advances: 1744 / Declines: 1583
Dollar: $ 79.86
Dollar Index: 106.76
Gold: $1722 per ounce
Crude: $97.80 per barrel
10 year US bond rate: 2.77
10 year Indian Bond rate: 7.41
Today’s Result – Axis bank, Tata Steel, Tech Mahindra, Canara Bank, Macrotech Developers, KPIT Technologies, Aether Industries, Anupam Rasayan India, Aurionpro Solutions, Central Bank of India, Century Textiles & Industries, Chennai Petroleum Corporation, Craftsman Automation, Glaxosmithkline Pharmaceuticals, Indian Energy Exchange, IIFL Wealth Management, Jindal Stainless, Jyothy Labs, Lakshmi Machine Works, Orient Electric, RattanIndia Power, Sharda Cropchem, Sterlite Technologies, Tanla Platforms, Tatva Chintan Pharma Chem, and Tejas Networks.
Above estimates: ICICI Bank, Ultratech cement, Atul
Inline estimates: Infosys, JSW Steel, Kotak Mahindra Bank, Mahindra CIE
Below estimates: Reliance Industries, Bandhan Bank, Coforge
Granules India: USFDA issues 6 observations to Granules Pharmaceuticals facility.
Bharat Electronics – The state-owned defence company has signed a Rs.250 crore contract with the Ministry of Defence. It will supply nine integrated ASW complex (IAC) MOD ‘C’ systems. IAC MOD ‘C’ is an integrated anti-submarine warfare system for all surface ships of the Indian Navy.
GAIL India – Company to consider bonus issue on July 27 in board meeting.
HDFC – Company is intended to raise up to ₹11,000 crore. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the corporation. The interest rate will be 8%, with yearly coupon payments.
Tata Steel – Company may shut its UK operations unless the British government extends aid around £1.5 billion (about ₹14,400 crore) within the next one year to help the owner of the UK’s largest steelworks reduce its carbon emissions.
Securities in Ban: Delta Corp, IBULHSGFIN, RBL Bank.
Derivative View: Immediate Max Put OI is at 16500 and 16300 and Max Call OI is at 17000 and 16800. Option data suggests a wider trading range in between 16300 to 17000