• India Airwave Bids at $18.8B Third Day; Auction to Resume Friday
• India Wants to Open Up For Lithium Mining in Batteries Quest
o Govt is seeking to change current mining laws
• Agarwal’s Vedanta Misses Profit Estimate on Higher Costs
o Total costs during the qtr increased 48% from a yr ago
• Indians’ Desperation for State Jobs Shows Unemployment Crisis
o Data for last eight years show recruitments on a decline
• Indian Firm to Invest Up to $8 Billion in Egypt Hydrogen Project
• India Finds Carriers Improperly Identified Cause of Defects
• Billionaire Adani’s Shadow Bank Plans IPO as Soon as 2024
o Adani Capital aims for a $2 billion valuation in offering
• Resilient Home Demand Helps India Wood Ply Firm Tackle Inflation
• Billionaire CEO Seeks to Reset Fintech Pioneer After IPO Fiasco
• Nomura Favors India NDOIS Steepener Trade on Swap Rally
• SEBI Fines Singh Brothers INR100M Each in Religare Case
• Global Funds Buy Net INR16.4B of India Stocks on Wednesday: NSE
o Domestic funds buy net 6b rupees of stocks
• Foreign Investors Sell Net INR940M of Indian Equities Wednesday
• India has done more than its fair share to fight climate change: Govt: PTI
• Bank credit rises 12.89 pc; deposit 8.35 pc: RBI data: PTI
• Honda to discontinue Jazz, WR-V and 4th generation City in India: PTI
• Ola Electric inks pact with heavy industries ministry for making advanced batter cells: PTI
• RBI sticks to October 1 deadline for card tokenisation: Economic Times
• Tata Neu CTO Sauvik Banerjjee quits four months after launch: Economic Times
• 4:00pm: India Fiscal Deficit in rupees for April-June, prior 129,075 crore
• 5:30pm: June Eight Infrastructure Industries, prior 18.1%
• Aban Offshore (ABAN): Gets rig contract from ONGC for three years
• Ajanta Pharma (AJP): 1Q Net Income +0.6% Y/y to 1.75b rupees, beats est. 1.54b; revenue +27% to 9.51b
• Dr Reddy’s Lab (DRRD): 1Q Net Income 11.9b rupees vs. 5.7b y/y, beats est. 6.99b; revenue +6.1% to 52.2b
• Equitas Small Finance Bank (EQUITASB): 1Q Net Income 970.1m rupees vs. 119.3m Y/y, misses est. 1.31b; Goss NPA 4.1% Vs. 4.14 q/q
• Jubilant Foodworks (JUBI): To buy 40% in Roadcast Tech Solutions for 149.5m rupees
• Mangalore Refinery and Petrochemicals: 1Q Net Income Beats Estimates
• Motilal Oswal Financial (MOFS): 1Q net income 312.6m rupees Vs. 2.21B Y/y; Revenue -16% 7.53b
• Nestle India (NEST): Nestle India 2Q Net Income 5.15B Rupees, Est. 5.74B Rupees
• Nippon Life India AM (NAM): 1Q Net Income -37% Y/y to 1.14b rupees, misses est. 1.71b; revenue +4.6% to 3.16b
• PNB Housing (PNBHOUSI): PNB Housing 1Q Net Income
+1.3% Y/y to 2.38b rupees, beats est. 1.62b; revenue -16% to 14.04b
• Punjab National Bank (PNB): 1Q Net Income 3.1B Rupees Vs. 10.2B Rupees Y/y, provisions -1.3% q/q to 47.9b; Gross NPA 11.3% Vs. 11.8% q/q
• Religare Enterprises (RELG): SEBI Fines Singh Brothers INR100M Each in Religare Case
• SBI Life Insurance (SBILIFE): 1Q Net Income +18% Y/y to 2.63b rupees, misses est. 4.53b; Net premium income +33% to 110.4b
• Shriram Transport Finance (SHTF): 1Q Net Income 9.65b rupees vs. 1.7b Y/y, est. 10.4b; revenue +11% to 51.4b
• TVS Motor (TVSL): TVS Motor 1Q Net Income 3.21b rupees vs. 531.5m Y/y, beats est. 3.03b; revenue +53% to 60.1b
• Vedanta (VEDL): 1Q net income +4.7% Y/y to 44.2b rupees, misses est. 45.73b; revenue +36 to 382.5b
By: via @AlliesFin Serve Stock Market
