Actionable: Buy ITC, Maruti Suzuki, Oberoi Realty, Trent.

Insight Online News

From Advisory Desk : Vikash Sahay

2nd August 2022

Market Outlook: US markets gave up early gains and closed slightly lower after disappointing economic data from China and Eurozone. Following the data, crude oil prices plunged 4% as fears about demand drove price action and also ahead of OPEC+ meeting tomorrow. Indian markets could open flat despite weak Asian markets and US futures amid geo-political tensions between US and China over House speaker Nancy Pelosi visit to Taiwan. Yesterday, FIIs have made their highest net purchase in recent times and bought Rs.5,000 cr in the last three days. India’s manufacturing PMI hits eight-month high in July on new orders, shows Indian economy is on a rapid rise. GST collections for July month remained strong at 1.48lacs, signifying robust economic recovery . We expect some minor profit booking on account of weak global cues and hence continue with buy on dips.

Actionable: Buy ITC, Maruti Suzuki, Oberoi Realty, Trent.

Global market:

DOW: -46

SGX NIFTY: -50 (prev. close 17393)

NIFTY 50 : 17340

Sensex : 58115

Institution:

FII: + 2321 Cr

DII: – 822 Cr

NSE:

Advances: 2277 / Declines: 1193

Currency:

Dollar: $ 79.02

Dollar Index: 105.23

Commodity:

Gold: $1794 per ounce

Crude: $99.25 per barrel

Bonds:

10 year US bond rate: 2.53

10 year Indian Bond rate: 7.24

Derivative:

PCR: 0.92

VIX: 17.48

Today’s Result – Bosch, Indus Towers, Siemens, Adani Green Energy, Bank of India, Voltas, Brigade Enterprises, Deepak Nitrite, Dhanuka Agritech, Dodla Dairy, Gateway Distriparks, Gati, Godrej Properties, Gravita India, JM Financial, Jubilant Pharmova, Lemon Tree Hotels, MOIL, Paradeep Phosphates, RPG Life Sciences, Schneider Electric Infrastructure, Shyam Metalics and Energy, Thermax, Tube Investments of India, Vaibhav Global.

Results update:

Above estimates: ITC, VBL, UPL, Alkyl Amines, Barbeque Nation Hospitality, Ramco Cements, Kansai Nerolac, Zomato, Arvind

Inline estimates:

Below estimates: Escorts, Castrol india, Max life, Bajaj Consumer

Updates:

Pfizer – The company has received Rs.180.48 crore from Mylan after it has transferred Upjohn business comprising of six brands which included Lyrica, Viagra, Celebrex, Amlogard, Daxid and Dilantin along with related business assets and liabilities to Mylan.

Telecom Sector – Reliance Jio acquired a total of 24,740 MHz of spectrum for Rs.88,078 crore. The Adani Group bought 400 MHz for Rs.212 crore, Bharti Airtel bought a 19,867 MHz airwave across different bands for Rs.43,084 crore, Vodafone Idea Limited bought a 6,228 MHz spectrum for Rs.18,784 crore.

Union Bank of India – Bank expects to recover Rs.15,000 crore from bad loan accounts during the current fiscal year, and a bulk of this would come from accounts undergoing insolvency resolution process.

Unites Spirits – Company to seek shareholders approval nod for some brand sale on Aug 9.

Securities in Ban: NIL.

Derivative View: Immediate Max Put OI is at 17000 and 17200 and Max Call OI is at 17600 and 17500. Option data suggests a trading range in between 17000 to 17600.

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