Stock Market Today: All You Need To Know Going Into Trade On Aug. 2

Stocks in Asia retreated Tuesday amid rising US-China tension over Taiwan and worries about a global economic slowdown.

Shares dropped in Japan, South Korea and Australia after S&P 500 and Nasdaq 100 futures fell after July’s global stock market rebound stumbled into August.

US House Speaker Nancy Pelosi is expected to visit Taiwan on Tuesday. She would become the highest-ranking American politician to visit the island in 25 years.

At 7:00 am, the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- traded 0.20% higher at 17,200 points.

Zomato Q1 FY23 (Consolidated, QoQ)

• Revenue up 17% at Rs 1,413.9 crore Vs Rs 1,211.8 crore (Bloomberg estimate: Rs 1,403.1 crore)

• EBITDA loss fell 32% at 307.30 crore Vs Rs 449.7 crore (Bloomberg estimate: Rs 411.6 crore loss)

• EBITDA margin -22% Vs -37%

• Net loss fell 48% at Rs 185.7 crore Vs Rs 359.7 crore (Bloomberg estimate: Rs 262.4 crore loss)

ITC Q1 FY23 (Consolidated, QoQ)

• Revenue up 12% at Rs 19,831.3 crore Vs Rs 17,754.02 crore (Bloomberg estimate: Rs 11,760.7 crore)

• EBITDA up 9% to Rs 6,077.16 crore Vs Rs 5,599.4 crore (Bloomberg estimate: Rs 5302.2 crore)

• Margins at 30.6% Vs 31.5%

• Net profit up 5% to Rs 4,389.76 crore Vs Rs 4,195.69 crore (Bloomberg estimate: Rs 3,974 crore)

• Cigarette business likely reported ~29% volume growth during the quarter

• Agri business posted 82% jump, significantly ahead of estimate

• 3x growth in hotel business, but 100 bps decline in Ebitda margin

• FMCG business reported sequential drop in Ebit margin for the fourth consecutive quarter.

Castrol Q1 FY23 (Consolidated, QoQ)

• Revenue up 0.5% at Rs 1,241.71 crore Vs Rs 1,235.7 crore

• EBITDA fell 10% at Rs 286.12 crore Vs Rs 317.2 crore

• EBITDA margin 23% Vs 26%

• Net profit fell 10% at Rs 206.26 crore Vs Rs 228.4 crore

Kansai Nerolac Paints Q1 FY23 (Consolidated, QoQ)

• Revenue up 33.5% at Rs 2,051.37 crore Vs Rs 1,536.6 crore

• EBITDA up 3x at Rs 255.04 crore Vs Rs 83.92 crore

• EBITDA margin 12.5% Vs 5.5%

• Net profit up 8x at Rs 152.05 crore Vs Rs 19.17 crore

• Revenue up due to strong revival in demand in industrial especially automotive coupled with price increases in both segments.

• Approves monetisation of idle land parcels.

Escorts Kubota Q1 FY23 (Consolidated, QoQ)

• Revenue up 8% at Rs 2,032.06 crore Vs Rs 1,886.64 crore

• EBITDA fell 18% at Rs 203.61 crore Vs Rs 248.15 crore

• EBITDA margin 10% Vs 13%

• Net profit fell 26% at Rs 140.64 crore Vs Rs 190.92 crore

Max Financial Services Q1 FY23 (Consolidated, QoQ)

• Revenue fell 64% at Rs 3,271.69 crore Vs Rs 8,959.65 crore

• EBITDA fell 46% at Rs 86.75 crore Vs Rs 160.76 crore

• EBITDA margin 2.6% Vs 1.8%

• Net profit fell 52% at Rs 56.36 crore Vs Rs 117.38 crore

Thyrocare Technologies Q1 FY23 (Consolidated, QoQ)

• Revenue fell 2% at Rs 127.79 crore Vs Rs 130.56 crore

• EBITDA fell 4% at Rs 35.92 crore Vs Rs 37.59 crore

• EBITDA margin 28.1% Vs 28.8%

• Net profit up 2% at Rs 21.73 crore Vs Rs 21.24 crore

• Reliance Industries: Reliance Jio Infocomm was the biggest buyer in the spectrum auction concluded on August 1. It bought 24,740 MHz for Rs 88,078 crore.

• Adani Enterprises: Adani Data Networks bought 400 MHz for Rs 212 crore.

• Bharti Airtel: The company bought 19,867 MHz for Rs 43,084 crore.

• Vodafone Idea: The company bought 6,228 MHz for Rs 18,799 crore.

• Eicher Motors: Total sales of motorcycles in July rose 26% YoY to 55,555 units.

• Hero MotoCorp: Total sales in July fell 2% YoY to 445,580 units.

• TVS Motor: Total sales in July rose 13% YoY to 314,639 units

• United Spirits: The company has sought shareholders’ approval for a transaction with Inbrew Beverages involving a slump sale of the entire business undertaking associated with 32 brands and grant of franchise in relation to 11 other brands for five years.

• REC: The company will consider proposal for fund-raising through private placement on August 4.

• Maruti Suzuki: The company total production in July rose 8.3% YoY to 184,890 units.

• Coal India: Total production rose 24.3% YoY to 207.1 MT from April-June.

• NMDC: Total production of iron ore for July fell 33% YoY to 2.05 MT and sales fell 10.3% to 2.95 MT.

• Zomato: Plans new management structure, with multiple CEOs, Reuters reported.

• Battery companies in focus: Battery stocks up substantially in last 4 trading sessions. Amara Raja Batteries up over 7.5%, open interest down 16%. Exide Industries up over 5.5%, open interest up 3.4%. Exide trading above its 200-day EMA of Rs 156/share.

Earnings Today

Adani Green, Godrej Properties, Deepak Nitrite, Indus Towers, Brigade Enterprises, Bosch, Bank of India, Voltas, Tube Investments of India, Thermax, Transport Corporation of India, Siemens, Data Patterns, Gateway Distriparks, Dodla Dairy, Moil, Lemon Tree Hotels, Jubilant Pharmova, JM Financial, ION Exchange, Navneet Education, Vaibhav Global, Star Cement, Sheela Foam, Schneider Electric, Saregama India, Paradeep Phosphates

• Swan Energy: Promoter Group Dave Impex created a pledge of 50.18 lakh shares on August 1.

• Emami: Promoter Group Sneha Enclave created a pledge of 7 lakh shares on July 28.

• Mastek: Small Cap World Fund bought 5.54 lakh (1.84%) shares and Ashish Kacholia sold 5.55 lakh (1.82%) shares at Rs 2,110 apiece

• West Coast Paper Mills: Navoday Enterprises bought 5 lakh (0.75%) shares and SPV Traders bought 3.5 lakh (0.54%) shares at Rs 475 and Rs 476 apiece respectively.

• Agarwal Industrial Corporation: Ashish Ramachandra Kacholia bought 3.7 lakh (2.7%) shares at Rs 505 apiece.

• Hero MotoCorp: Total wholesale sales fall 2% to 4,45,580 units; Nomura estimate: 4,50,000 units.

• Eicher Motors: Wholesale sales rise 26% to 55,555 units; Nomura estimate: 60,000 units.

• TVS Motor: Vehicle sales at 3,14,639 units versus 2,78,855; Nomura estimate: 3,14,500 units.

• SJS Enterprises: To meet investors and analysts on August 5

• Valiant Organics: To meet investors and analysts on August 8

• JK Paper: To meet investors and analysts on August 2

• Sansera Engineering: To meet investors and analysts on August 8

• Navneet Education: To meet investors and analysts on August 3

• Page Industries: To meet investors and analysts on August 11

• Psp Projects: To meet investors and analysts on August 10

• Gravita India: To meet investors and analysts on August 3

• Balrampur Chini Mills: To meet investors and analysts on August 5

• Granules India: To meet investors and analysts on August 10

• Petronet LNG: To meet investors and analysts on August 5

• Acrysil: To meet investors and analysts on August 8

• Nirlon: To meet investors and analysts on August 10

• Spandana Sphoorty Financial: To meet investors and analysts on August 4

• Eris Lifesciences: To meet investors and analysts on August 5

• TD Power Systems: To meet investors and analysts on August 10

• Birlasoft: To meet investors and analysts on August 3

• Ge T&D India: To meet investors and analysts on August 3

• Star Cement: To meet investors and analysts on August 3

• Thomas Cook (India): To meet investors and analysts on August 8

• Firstsource Solutions: To meet investors and analysts on August 3

• Glenmark Pharmaceuticals: To meet investors and analysts on August 12

• MAS Financial Services: To meet investors and analysts on August 4

• Mahanagar Gas: To meet investors and analysts on August 8

• Welspun Corp: To meet investors and analysts on August 5

• Vedanta: To meet investors and analysts on August 2 and August 4

• Container Corporation of India: To meet investors and analysts on August 5

• Devyani International: To meet investors and analysts on August 3

• Max Healthcare Institute: To meet investors and analysts on August 11

• Hindalco Industries: To meet investors and analysts on August 3

• Torrent Pharmaceuticals: To meet investors and analysts on August 2 to August 4

• Mahindra & Mahindra: To meet investors and analysts on August 2 to August 5

• Sequent Scientific: To meet investors and analysts on August 2 to August 9

• Lumax Industries: To meet investors and analysts on August 16

• IIFL Wealth Management: To meet investors and analysts on August 11

AGMs today:

• Aurobindo Pharma

• Brigade Enterprises

• Godrej Properties

• Tata Metalik

• Thermax

• Vaibhav Global

• Tube Investments of India

ITC

• Morgan Stanley: Overweight, target price raised to Rs 330.

• CLSA: Outperform, target price raised to Rs 330.

• Dolat Capital: Upgrade to 'buy', target price at Rs 368.

Zomato

• UBS: Buy, TP Rs 95

  Q1 a strong quarter; Ebitda breakeven in food delivery

  Believe growth drivers continue to remain strong & losses continue to reduce QoQ, which is a positive

  Management guided for no more minority equity investments

Escorts

• CLSA: Downgrade to 'sell' from 'buy', target price cut to Rs 1,612 from Rs 2,069. Cut earnings estimates 24%-26% over FY23-24 on 7% lower volume forecast and a 400 bps cut in Ebitda margin.

  Big miss on margin led to negative surprise.

  Kubota-Escorts synergies yet to play out.

• Ex-Date Dividend: KCP, Cholamandalam Financial Holdings, DLF, IG Petrochemicals, Ramco Cements

• Ex-Date Final Dividend: Abbott India, Anand Rathi Wealth, Cummins India, J K Cement, KCP, Kirloskar Brothers, Magellanic Cloud, Ramco Industries, S H Kelkar And Company, United Breweries, UltraTech Cement

• Ex-Date Special Dividend: Abbott India

• Ex-Date Annual General Meeting: KCP

• Record-Date Dividend: Nava Bharat Ventures, GAIL (India), Bharti Airtel, Sudarshan Chemical Industries

• Record-Date Final Dividend: Sudarshan Chemical Industries, Paushak, Nava Bharat Ventures

• Record-Date Interim Dividend: IIFL Wealth Management

• Record-Date Income Distribution: POWERGRID Infrastructure Investment Trust

The rupee ended at Rs 79.02 against the U.S. Dollar on Monday as compared to Friday's closing of Rs 79.26

• Nifty August futures ended at 17,370.5, a premium of 30.45 points.

• Nifty August futures added 9.18% and 17,812 shares in Open Interest.

• Nifty August futures ended at 37,935.25, a premium of 32.05 Points.

• Nifty August futures added 12.98%, 10,242 shares in Open Interest

• Star Health - Bellwether Health Insurer With Inimitable Moats: HDFC Securities Initiates Coverage

• VST Industries - Obsessed With Innovation-Penetration Led Growth: Centrum Broking

• Sun Pharma - Shoring Up Specialty Well: Dolat Capital Reinitiates Coverage

• Hindustan Oil Exploration - Ramp Up In Volumes To Ensure Growth Visibility Going Ahead: HDFC Securities