@ALLIESFIN
SUPRABHATAM
• India Stimulus Helping Economic Recovery, Sitharaman Says
• India Mulls Output Linked Incentives for More Sectors
• India For ‘Early Harvest’ Trade Deal with U.S.: Minister Goyal
• Unilever’s India Unit Beats Estimates as Consumers Stockpile
o Demand in rural areas more resilient vs urban ones: CFO
• Axis Bank Profit Drops 19% as Bad-Loan Provisions Rise
• India Orders Strict Compliance of Mobile Apps Ban: Official
• China Turns Top Buyer for India Steel as Exports Jump Three-Fold
o China bought 34% of India’s finished steel exports in June
• Tanker Hauling Jet Fuel From India Sails for U.S. Gulf Coast
• India Monsoon Rainfall at 7% Above Normal as of July 21
• New Margin Rule to Shrink Intraday Trade Fees for India Brokers
o Sebi orders brokers to collect margin upfront from Dec.
• Rural Demand Aided Retail Auto Sales In June, Says Dealers’ Lobby: BQ
• Global Funds Buy Net INR22.7B of India Stocks Tuesday: NSE
o Domestic funds sell net 7.27b rupees of stock
• Foreign Investors Buy Net INR16.5B of Indian Equities on July 20
• Foreigners Buy Net INR10.1B of Indian Equity Derivatives Tuesday
• SC asks Centre to respond to plea for action against govt. banks: PTI
• Maharashtra Govt Assures FinancialScheme As Dairy Farmers Protest: PTI
• Axis Bank (AXIS): 1Q profit -19% y/y to 11.1b rupees; provisions -43% q/q to 44.2b; Gross NPA 4.72% vs. 4.86% q/q
• Bajaj Finserv (BJFIN): 1Q profit +44% y/y to 12.15b rupees, revenue +16% y/y to 141.9b
• Ceat (CEAT): To make additional INR26m investment in Tyresnmore
• Hindustan Unilever (HUVR): 1Q net income 18.8b rupees, beats est. 17.2b; revenue +4.3% y/y to 104.1b, est. 98.8b
• Mahindra CIE (MACA): Posts 2Q loss 1.29b rupees vs. profit 1.26 y/y; revenue -66% y/y to 7.35b rupees
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