Asian markets flat while US market soars! Will Reliance help Nifty touch 16000 this week?

Good Morning Everyone to yet another brand new week. Reliance, ITC & HUL came with good results after market close on Friday, HDFC bank has already fallen so much after its results, will it take support and move up today? if all this happens, 16000 may be possible this week as global markets are also positive due to the earnings season.


Global markets: Stocks rallied to record highs on Wall Street Friday, and the Dow Jones Industrial Average closed above the 35,000 level for the first time, as the market continued to roar back from fall at the start of the week. The S&P 500 index climbed 44.31, or 1%, to 4,411.79 to top its prior all-time high, set early last week. The Dow rose 238.20, or 0.7%, to 35,061.55, and the Nasdaq composite gained 152.39, or 1%, to 14,836.99.


Asian shares struggled to rally this morning as super-strong US corporate earnings sucked funds out of emerging markets and into Wall Street, where records were created almost daily.


Japan’s Nikkei bounced 1.6% in early trade, but that was off a seven-month low. South Korea has fared somewhat better thanks to demand for tech stocks but was little changed today.


Indian Market:


Trends on SGX nifty, signal a gap-down start to Nifty today at around 15750-15780. We need to watch the market for the first 1 hr to understand the movement of the index based on the results posted last week.


Reliance Industries (RIL) on July 23 reported June quarter profit at Rs 13,806 crore, up 66.7 percent year-on-year (YoY), with normalized tax provision. The revenue of the oil-to-telecom conglomerate stood at Rs 1.44 lakh crore. However, the numbers on a sequential basis were impacted due to weakness in retail, RIL said.


The company posted record consolidated EBITDA for the quarter under review at Rs 27,550 crore, up 27.6 percent YoY and 3.6 percent QoQ on strong oil-to-chemical (O2C) and digital services performance. The consolidated EBITDA margin grew 190 bps QoQ to 17.3 percent.


Results Today


Axis Bank, Kotak Mahindra Bank, Larsen & Toubro, Tata Motors, SBI Life Insurance Company, Vedanta, Alembic Pharmaceuticals, Apollo Pipes, Coromandel International, DLF, GlaxoSmithKline Pharmaceuticals, Garden Reach Shipbuilders & Engineers, Jindal Stainless, KPIT Technologies, M&M Financial Services, Navin Fluorine International, Phillips Carbon Black, Ramkrishna Forgings, Sun Pharma Advanced Research Company, Vakrangee, and Zensar Technologies will release quarterly earnings on July 26.


FII and DII data


Foreign institutional investors (FIIs) net sold shares worth Rs 163.31 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 2,187.80 crore in the Indian equity market on July 23


Stock Specific News:


Reliance Industries | The company reported consolidated profit at Rs 12,273 crore in Q1FY22 against Rs 13,227 crore in Q4FY21, revenue at Rs 1,44,372 crore against Rs 1,54,896 crore, QoQ.


ICICI Bank | The bank’s Q1FY22 net profit rose 77.6 percent to Rs 4,616 crore from Rs 2,599.2 crore, net interest income increased 17.8 percent to Rs 10,935.7 crore from Rs 9,279.8 crore. YoY.


HDFC | International Finance Corporation (IFC) has provided a loan of $250 million to HDFC to promote affordable green housing finance for low and middle-income borrowers.

ITC | The company’s Q1FY22 net profit rose 28.6 percent to Rs 3,013.5 crore from Rs 2,342.7 crore, revenue jumped 36.4 percent to Rs 12,959.2 crore from Rs 9,502 crore, YoY.

Ambuja Cements | The company’s Q2CY21 net profit jumped 59.5 percent to Rs 723.08 crore from Rs 453.4 crore, revenue rose 54.9 percent to Rs 3,371.2 crore from Rs 2,176.8 crore YoY. Sales volume increased to 6.33 mt versus 4.19 mt, YoY.


Cipla | The company is recalling 7,228 bottles of Solifenacin Succinate tablets, a medicine used to treat overactive bladder, in the US market due to manufacturing issues.

IndusInd Bank | The bank’s board approved a proposal for raising funds up to Rs 30,000 crore through a mix of equity and debt to fund its business growth.

JSW Steel | The company reported a consolidated net profit of Rs 5,900 crore in Q1FY22 as against a loss of Rs 582 crore, YoY. Revenue increased to Rs 28,902 crore from Rs 11,782 crore, YoY.

NTPC | The company has commissioned 800-MW Unit-2 of Darlipali Thermal Power Project. With this, the total installed capacity of NTPC and NTPC group has become 53450 MW and 66875 MW respectively.

SBI Cards and Payment Services | The company’s Q1FY22 net profit declined 22 percent to Rs 305 crore from Rs 393 crore, total income rose to Rs 2,451 crore from Rs 2,196 crore, YoY.


Yes Bank | The bank’s net profit in Q1FY22 jumped to Rs 206.8 crore from Rs 45.44 crore, while NII declined 26.5 percent to Rs 1,402.1 crore from Rs 1,908.2 crore, YoY.

United Spirits | The company reported profit at Rs 69.1 crore in Q1FY22 against a loss of Rs 215.3 crore in Q1FY21, revenue jumped to Rs 1,615.1 crore from Rs 1,030.2 crore YoY.


GNA Axles | The company reported a higher profit at Rs 29.5 crore in Q1FY22 against Rs 27.6 crore in Q1FY21, revenue rose to Rs 329 crore from Rs 310.2 crore, YoY.



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