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16000 celebration is over, lets get back to business!

Good Morning, Everyone, Indian market created history yesterday which all of us waiting for and I am sure many of us celebrated it too. However, Like I said yesterday in our community, 16000 was a target till yesterday, but now it is just another number as we look forward to the next target of 16500.

Target gets interesting only when it is tough to achieve, as we have been seeing in the market for the last 6 weeks. The market was into total consolidation without major movements, each time giving us a high by closing near 15900 and then finally breaking that barrier and giving a break out in style. However 16000 is history now, let's move forward.

Global Markets:

Apple and some health care stocks rise to help the US market also attain a record high yesterday, which was so powerful that people have forgotten about the delta variant scare.

The Dow Jones Industrial Average rose 278.24 points, or 0.8%, to 35,116.4, the S&P 500 gained 35.99 points, or 0.82%, to 4,423.15 and the Nasdaq Composite added 80.23 points, or 0.55%, to 14,761.30.

When US markets are positive along with Indian, we could see that effect in the Asian markets too as we could see them also higher in the morning trade today. Four initial public offerings worth more than Rs 3,600 crore open for subscription on August 4 and close on August 6 – Devyani International, Windlas Biotech, Exxaro Tiles, and Krsnaa Diagnostics.

Experts recommend investing in Krsnaa Diagnostics and Devyani International shares because both could make listing gains and are also good long-term bets.

Indian automakers are seeking an extra year to meet tighter rules on fuel efficiency, aimed at reducing carbon emissions, as the companies reel from the financial impact of COVID-19.

Results Today:

Adani Green, Apollo Tyre, HPCL, State Bank of India, Tata Communications, Titan Company, Bosch, and Godrej Consumer Products.

FII & DII Activity:

Foreign institutional investors (FIIs) net bought shares worth Rs 2,116 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 298 crore in the Indian equity market on August 3

Stock Specific News:

Bharti Airtel | The company’s Q1FY22 net profit fell 62.7 percent to Rs 283.5 crore from Rs 759.2 crore, while revenue rose 4.3 percent to Rs 26,853 crore from Rs 25,747.3 crore, QoQ. The average revenue per user was at Rs 146 versus Rs 145, QoQ.

Tata Consultancy Services | The IT major has received a supply chain modernisation contract from Rich Products.

Dr Reddy’s Laboratories | The company has re-launched over-the-counter (OTC) Naproxen Sodium Tablets USP, 220 mg, the store-brand equivalent of Aleve, in the US market.

Tata Steel | S&P Global Ratings has raised Tata Steel‘s long-term issuer credit rating to ‘BB’ from ‘BB-‘ as it expects the company’s debt to fall by more than 30 percent by March 2023. The outlook is Stable.

Tata Consumer Products | The company’s net profit in Q1FY22 fell 42.1 percent to Rs 200.2 crore from Rs 345.6 crore, while revenue rose 10.9 percent to Rs 3,008.5 crore from Rs 2,713.9 crore, YoY.

Power Grid Corporation | The company has commissioned a 1,320 MW thermal power unit in Uttar Pradesh.

Adani Enterprises | The company posted a net profit of Rs 265.60 crore against a loss of Rs 65.67 crore and revenue was at Rs 12,578.77 crore against Rs 5,265.19 crore, YoY.

Linde India | The company has signed a business transfer agreement with HPS Gases, Vadodara, to acquire its entire packaged gases business along with certain distribution assets for Rs 27.5 crore.

Kalpataru Power Transmission | The company’s Q1FY22 consolidated net profit was at Rs 78 crore versus Rs 28 crore, while revenue rose to Rs 3,204 crore from Rs 2,330 crore, YoY.

GR Infraprojects | The company has received a Letter of Acceptance (LoA) for the construction of elevated structures (viaduct & stations) from Gottigere to Swagath Road Cross of Bangalore Metro Rail Project, Phase- 2, worth Rs 364.87 crore.

Dhampur Sugar Mills | The company’s Q1FY22 net profit fell to Rs 45.42 crore from Rs 54.71 crore and revenue declined to Rs 880.28 crore from Rs 1,086.67 crore, YoY.

IIFL Wealth Management | The company has reported a 42 percent jump in its Q1FY22 net profit at Rs 119 crore from Rs 83 crore, YoY. Revenue rose 43 percent to Rs 283 crore from Rs 199 crore, YoY.


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