China bringing down world markets again! Some more fall expected?

Good Morning, Everyone, We have been seeing volatile markets this week due to the monthly expiry this Thursday. We can see wild movements in the coming days without any prediction.

Global Markets:

US markets fell yesterday after the major sell-off seen in the Chinese market yesterday due to the crackdown on education sector companies, where Chinese companies announced that Educational companies should not make a profit & we could see almost a 50% fall in tech companies stocks that are into the educational field. And these companies listed in US markets also fell, thus moving the US markets also down.

The Dow Jones Industrial Average ended down 0.2% at 35,059 points, and the S&P 500 shed 0.5% to end at 4,401 points. The Nasdaq Composite slid 1.2% to 14,660 points, its biggest one-day drop since May 12.

Shares in Asia-Pacific were mixed in today morning's trade, with stocks in Hong Kong trying to recoup some losses from a two-day fall.

In Japan, the Nikkei 225 declined 0.74% in morning trade while the Topix index slipped 0.5%. South Korea’s Kospi shed 0.19%.

Indian Market:

Trends on the SGX Nifty indicate a small gap up opening below 15800, and this point can act as a good resistance and we don't see any major event today to break the resistance. In that case, we may see some more consolidation today.

The International Monetary Fund, on July 27, cut India's gross domestic product (GDP) growth forecast to 9.5 percent for the fiscal year 2021-22, from the previous forecast of 12.5 percent, citing the hit on economic activity and demand due to the deadly 'second wave' of the COVID-19 pandemic.

"Growth prospects in India have been downgraded following the severe second COVID wave during March-May and expected slow recovery in confidence from that setback," the multilateral institution said in its latest World Economic Outlook report.

The report said that steady recovery is not assured anywhere so long as segments of the population remain susceptible to the virus and its mutations. "Recovery has been set back severely in countries that experienced renewed waves— notably India," it said.

Results Today

Maruti Suzuki India, Nestle India, ABB India, Astec Lifesciences, Birlasoft, Central Bank of India, Century Textiles & Industries, Coforge, Dhanlaxmi Bank, Embassy Office Parks REIT, Gateway Distriparks, Geojit Financial Services, Greenpanel Industries, Grindwell Norton, Happiest Minds Technologies, Heritage Foods, HSIL, ICRA, IDBI Bank, Intellect Design Arena, JM Financial, Mahindra Lifespace Developers, Mahanagar Gas, Mold-Tek Packaging, Pfizer, Radico Khaitan, Ramco Systems, Route Mobile, RPG Life Sciences, Sagar Cements, SRF, Tata Coffee, TCI Express, TeamLease Services, United Breweries, UTI Asset Management Company, and Welspun India.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,459.08 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 729.96 crore in the Indian equity market on July 27

Stock Specific News:

IndusInd Bank | The bank’s Q1FY22 net profit jumped to Rs 974.95 crore from Rs 460.64 crore, net interest income rose 7.7 percent to Rs 3,563.71 crore from Rs 3,309.19 crore, YoY.

InterGlobe Aviation | The company posted a net loss of Rs 3,174.2 crore in Q1FY22 against a loss of Rs 2,844.3 crore in Q1FY21. Revenue jumped to Rs 3,006.9 crore from Rs 766.73 crore, YoY. (Image: Reuters)

Larsen & Toubro | The company’s board has approved the amalgamation of its wholly-owned arm L&T Hydrocarbon Engineering Ltd with the parent firm.

Torrent Pharma | The company’s net profit in Q1FY22 rose 2.8 percent to Rs 330 crore from Rs 321 crore, while revenue increased 3.8 percent to Rs 2,134 crore from Rs 2,056 crore, YoY.

Cyient | The company has signed a definitive agreement to acquire a 100 percent stake in WorkForce Delta (WFD), a global consultancy company,

Dalmia Bharat | The company reported a 45.02 percent YoY rise in Q1FY22 consolidated net profit at Rs 277 crore, helped by sales volume growth and a lower base. Revenue from operations was up 36.19 percent to Rs 2,589 crore from Rs 1,901 crore, YoY.

Granules India | The company reported an 8 percent YoY rise in its consolidated net profit at Rs 120 crore for Q1FY22. Consolidated revenue from operations rose to Rs 850 crore from Rs 736 crore, YoY.

Pidilite Industries | The company’s subsidiary Madhumala Ventures will make a further investment of Rs 14.96 crore in Aapkapainter Solutions Pvt Ltd to increase its stake to 47 percent from 28.89 percent.

Karnataka Bank | The bank’s Q1FY22 profit fell to Rs 106.08 crore from Rs 196.38 crore, while net interest income rose to Rs 574.79 crore from Rs 535.12 crore, YoY.

IIFL Finance | The company reported a sharply higher consolidated profit at Rs 265.82 crore in Q1FY22 against Rs 31.83 crore in Q1FY21. Revenue during the quarter increased to Rs 1,514.4 crore from Rs 1,286.95 crore, YoY.

VST Industries | The company’s profit in Q1FY22 declined to Rs 70.44 crore from Rs 75.71 crore, while revenue rose to Rs 368.11 crore from Rs 314.91 crore, YoY.

Shemaroo Entertainment | The company reported a net loss of 1.4 crore in Q1FY22 versus a loss of Rs 13 crore, YoY. Revenue fell 13.2 percent to Rs 74.8 crore from Rs 86.2 crore, YoY.

Foseco India | The company reported profit at Rs 6.3 crore in Q1FY22 against a loss of Rs 2.92 crore in Q1FY21. Revenue was at Rs 75.07 crore versus Rs 27.65 crore, YoY.