Namaste !!
• Tata Steel Sees Continued Price Volatility After Profit Beat
o Tata Steel pivoted to local markets on export-tax levy
• India April-June Net Direct Tax Collections Rise 41.3% Y/Y
• Axis Bank Profit Beats Estimates as Interest Income Jumps
• Spate of Mid- Flight Incidents Sparks Probe of Airlines in India
o Aviation regulator to check staff training, aircraft equipment
• TRAI Releases Consultation Paper on Embedded SIM for M2M Comm
• India Cumulative Monsoon Rainfall 11% Above Normal as of July 25
• Emerging Market ETFs End Winning Streak, Fall $460.5 Mln
• Asian Paints to Gain from Demand Revival, Price Hikes: Preview
• Bajaj Auto to Report Results; Shares up 24.2% YTD: Preview
• Larsen to Report Results; Shares Down 6.4% YTD: Preview
• Global Funds Sell Net INR8.45B of India Stocks on Monday: NSE
o Domestic funds sell net 722.6m rupees of stocks
• Foreign Investors Sell Net INR6.15B of India Equities on July 22
• 8 PSUs surrender 11 coal mines: Coal Minister Pralhad Joshi: PTI
• Consistent improvement in Delhi’s air quality: Env Minister: PTI
• Debt raised by state PSUs to be considered borrowing by state: FM Sitharaman: PTI
• Axis Bank (AXSB): 1Q net income 41.3B rupees Vs. 21.6B Y/y; Provisions -64% q/q to 3.59b; gross NPA 2.76% vs. 2.82% q/q
• Bajaj Finserv (BJFIN): To consider stock split, bonus issue in July 28 meeting
• Future Retail (FRETAIL): S&P downgrades FRETAIL to ‘D’; ratings withdrawn
• GSK Pharma India (GLXO): 1Q Net Income -1.7% Y/y to 1.19b rupees, misses est. 1.36b; revenue +4% to 7.45b
• Indian Energy Exchange (IEX): 1Q net income +8% Y/y to 685.9m rupees, est. 712.7m; revenue +9% to 983.5m
• Larsen & Toubro (LT): Clarifies LT not signed any pact for sale a road assets in report; news report on sale of mentioned assets speculative
• Lupin (LPC): Receives U.S. FDA approval for Azilsartan Medoxomil tablets
• Macrotech (LODHA): 1Q net income +68% Y/y to 2.71b rupees, misses est. 3.46b; revenue +66% to 26.8b
• PSP Projects (PSPPL): Wins orders worth 2.57b rupees
• Shriram Transport (SHTF): To consider buyback of some debt securities on July 28
• Strides Pharma (STR): Approves raising up to INR1.5b via bonds
• Sun Pharmaceutical (SUNP): Says LIC holding in SUNP shares fall to 5.024% from 7.026%
• Tata Motors (TTMT): Signs Pact With EC Wheels India for EV Fleet
• Tata Steel (TATA): 1Q net income -13% Y/y to 77.6b rupees, beats est. 72.75b; revenue +19% to 634.3b
• Tech Mahindra (TECHM):1Q net income 11.3b rupees vs. 13.5b Y/y; revenue +25% to 127.1b
By: via @AlliesFin Serve Stock Market
