Stocks to Watch: , Kotak Bank, JSW Steel, L&T,

Monday, Jul 26, 2021 - Morning brief for the stock market:

TOP EVENTS TODAY

* Nifty 50 companies detailing Apr-Jun earnings:

+ AXIS BANK, (net profit seen 28 bln rupees, up over two-fold on year)

+ , (net profit seen 18.18 bln rupees, up 46.1% on year) + LARSEN & TOUBRO, (consol PAT seen 16.2 bln rupees, up five times on year) + SBI LIFE INSURANCE CO, (PAT seen 4.5 bln rupees, up 16.1% on year) + TATA MOTORS, (consol loss seen 13.1 bln rupees vs 84.38-bln- rupee loss a year ago)

* Apr-Jun earnings to be detailed by: , Apollo Pipes, Bombay Wire Ropes, Chemo Pharma Laboratories, , D P Wires, DLF, Duncan Engineering, Garden Reach Shipbuilders

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& Engineers, Glaxosmithkline Pharmaceuticals, Jindal Stainless, JTL Infra, Kabra Extrusiontechnik, Kirloskar Ferrous Industries, KPIT Technologies, KZ Leasing Finance, Mahindra & Mahindra Financial Services, Marvel Vinyls, Medinova Diagnostic Services, Mewat Zinc, Navin Fluorine International, Orient Bell, Phillips Carbon Black, Pondy Oxides and Chemicals, Ramkrishna Forgings, Rane Brake Lining, Sagarsoft , Sanjivani Paranteral, Scan Steels, Shanti Educational Initiatives, Advanced Research Co, Tata Motors-DVR, Transoceanic Properties, Udaipur Cement Works, Vakrangee, Vedanta, Visaka Industries, Vishal Fabrics, VLS Finance, Zensar Technolog ies

* Board Meetings of:

+ DLF, to consider dividend

+ Rajnandini Metal, to consider of bonus issue

+ Ramkrishna Forgings, to consider dividend

+ Ridhi Synthetics, to consider right issue of equity shares

+ Sagarsoft India, to consider issue and allotment of equity shares

+ Vakrangee, to consider dividend

+ Vishal Fabrics, to consider dividend

* Annual General Meetings of: Archidply Industries, Coromandel International, Laxmi Organic Industries, Mahindra & Mahindra Financial Services, Navin Fluorine International, Orient Bell, Plastiblends India, Pressman Advertising, , Rane Brake

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Lining, Swelect Energy Systems, Tantia Constructions, Thacker & Co, Thambbi Modern Spinning Mills

INDICATORS (previous session) * NSE provisional net buy/(sell) in bln rupees, Jul 23: FIIs (1.63), DIIs 21.88 * Institutional net buy/(sell) in bln rupees, Jul 22: FIIs 43.10 * FII NSE futures net buy/(sell) in bln rupee, Jul 23: index 6.97, stock 1.49 * Sensex: 52975.80, up 138.59 points; Nifty 50: 15856.05, up 32 points * Crude: $72.07/bbl; Rupee: 74.40/$1; Gold: $1,801.8/ounce; 10-year yield: 6.1648%

WEEKLY SECTOR OUTLOOK

* AUTOMOBILE: Tata Motors, earnings eyed

* BANKS: Stock-specific movement likely; private banks in focus

* CAPITAL GOODS: Seen range bound; L&T result eyed

* CEMENT: , Dalmia Bharat in focus

* FMCG: Britannia, ITC, Nestle's Apr-Jun results in focus

* IT: To sustain positive momentum for 3rd straight week

* METALS: Vedanta earnings eyed, JSW Steel in focus

* OIL: RIL in focus, oil price to influence upstream cos

* PHARMACEUTICALS: In narrow band this week; Glenmark Life IPO eyed

* TELECOM: RIL's Apr-Jun earnings to lend cues this week

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GLOBAL MARKETS * US: Benchmark US indices closed at a record high on Friday as strong corporate earnings instilled optimism among investors and overshadowed the worries about the highly contagious delta variant of the coronavirus impacting the economy.

* ASIA: Major Asian markets were mixed, and China's benchmark indices fell sharply weighed down by education stocks as the government barred these companies from raising foreign investments.

DOMESTIC OUTLOOK * Benchmark indices in India are likely to open lower today tracking weak sentiment in Asia and caution ahead of the two-day policy meet of the US Federal Reserve scheduled to commence on Tuesday.

EARNINGS FOR APR-JUN ======

* ABB POWER PRODUCTS AND SYSTEMS INDIA

(PAT 163 mln rupees, up 49.54% YoY

Revenue 7.84 bln rupees, up 23.82% YoY)

* AMBUJA CEMENTS

(PAT 7.23 bln rupees, up 59.49% YoY

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Revenue 33.71 bln rupees, up 54.87% YoY)

* ICICI BANK

(PAT 46.16 bln rupees, up 77.60% YoY

NII 109.36 bln rupees, up 17.85% YoY)

* JSW STEEL

(Consol PAT 59.04 bln rupees vs 5.61 bln rupees Loss

Consol Revenue 289.02 bln rupees, up 145.31% YoY)

*

(Consol PAT 122.73 bln rupees, down 7.25% YoY

Consol Revenue 1.44 trln rupees, up 58.24% YoY)

* SBI CARDS AND PAYMENT SERVICES

(PAT 3.05 bln rupees, down 22.55% YoY

Revenue 23.62 bln rupees, up 9.66% YoY)

* SYMPHONY

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(Consol PAT 60 mln rupees, up 200% YoY

Consol Revenue 2.3 bln rupees, up 49.35% YoY)

*

(PAT 691 mln rupees vs 2.15 bln rupees Loss

Revenue 60.62 bln rupees, up 58.73% YoY)

*

(PAT 2.07 bln rupees, up 355.19% YoY

NII 14.02 bln rupees, down 26.52% YoY)

SECTOR NEWS ======

* AUTOMOBILE: Piaggio Vehicles has launched 300-cc three-wheelers in both petrol and compressed natural gas option to capture market share in the higher-powered passenger and cargo three-wheeler segment.

* HEALTHCARE: The government has increased the procurement prices of Covishield, and Covaxin vaccines to 205 rupees, and 215 rupees per dose exclusive of taxes.

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So far, the government has spent 80.71 bln rupees on purchase of COVID-19 vaccines, out of the total outlay of 350 bln rupees for the vaccination programme announced in the Union Budget for 2021-22 (Apr-Mar).

After reports that the Serum Institute of India had sought indemnity from the government against possible legal claims on account of side effects of its COVID-19 vaccine Covishield, the health ministry said in the Lok Sabha that no domestic vaccine maker has demanded such protection.

The health ministry has prepared guidelines for maintenance of sufficient buffer stocks of essential drugs used in the management of COVID- 19 and associated diseases such as mucormycosis and multi-system inflammatory syndrome in children.

Bharat Biotech International has terminated its pact with Brazil's Precisa Medicamentos and Envixia Pharmaceuticals to supply COVID-19 vaccine Covaxin.

After the government capped trade margins on five medical devices on Jul 13, a total of 620 products and brands have revised their prices downward by up to 88%.

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* RAILWAYS: The government has received bids worth 72 bln rupees from private as well as public sector players for running private passenger trains.

* REGULATORY: The Securities and Exchange Board of India has extended the deadline for 100 listed entities to hold their annual general meeting by one month to six months, from the five months directed earlier.

SEBI has made it mandatory for all investors with trading accounts or dematerialised accounts to provide a nomination or specifically opt out.

* TELECOMMUNICATION: The Supreme Court, in its adjusted gross revenue order on Friday, stated that petitions by telecom companies seeking recalculation was an attempt to alter the dues of the companies, which the apex court had specifically barred in an earlier order.

STOCKS ======

* ADANI ENTERPRISES: In joint venture with Hungary-based Organica Technologies, the company has incorporated Bhagalpur Waste Water in Bihar to develop a sewage treatment plant and its associated infrastructure on hybrid annuity model.

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* BAJAJ CONSUMER CARE: Has launched its Bajaj 100% Pure Coconut Oil.

* : Allotted two senior, secured redeemable non- convertible debentures, one maturing in 2023 and the other in 2031, which aggregate up to 25 bln rupees.

* BEML: Board has approved scheme of arrangement for demerger of identified surplus non-core assets into wholly-owned subsidiary BEML Land Assets.

* : May consider applying for full marketing authorisation for itolizumab, a novel antibody product used to treat COVID-19 patients, in India. (BS)

* : The bank, which can't issue new credit cards due to curbs on Mastercard, is looking to on-board new clients in two months as it is in the process of partnering with payment service networks such as Visa and RuPay.

* H.G. INFRA ENGINEERING: Has received letter of acceptance from National Highways Authority of India for a road project in .

* HOUSING DEVELOPMENT FINANCE CORP: Has got a loan of $250 mln from International Finance Corp, the investment arm of the World Bank

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Group, to be used by India's largest housing finance company for green housing. (BS)

* INDUSIND BANK: The board has approved raising up to 300 bln rupees through debt and equity instruments and will seek shareholders' approval at its annual general meeting on Aug 26.

* INFIBEAM AVENUE: Entrepreneur and investor Ravi Omprakash Agrawal sold 7.17 mln shares, representing 0.54% stake in the company through a bulk deal on the National Stock Exchange.

* : Has declared two non-performing asset accounts, Lanco Infratech and Basundhara Green Power, as fraud. The bank has reported the action to the Reserve .

* JINDAL STEEL & POWER: Will launch a bidding process for the proposed divestment of its power operations as it looks to improve the sale value.

* JSW STEEL: Will invest 7.5 bln rupees in group company, JSW Paints, between 2021-25 (Apr-Mar) in three or four tranches, as it believes this is a strategic fit for its colour-coated steel products.

Has entered into a power purchase agreement with group company JSW ENERGY to procure wind and solar power, and will invest 4.45 bln rupees in a special purpose vehicle set up by JSW ENERGY for 26% stake in it.

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Has spent 26.88 bln rupees on capital expenditure in the June quarter, of the 182.40 bln rupees it intends to spend through 2021-22 (Apr-Mar).

Has paid the entire consideration of 8.5 bln rupees for the acquisition of manufacturing business of high-grade steel plates and coils from .

* MAJESCO: Will acquire 51% stake in K2V2 Technologies for 400 mln rupees.

* NAVKAR CORP: Will invest up to 3 bln rupees to set up an inland container depot and private freight terminals near Mundra or Pipava or Northern Maharashtra, subject to requisite approvals and clearances.

* NTPC: Company's 800-MW capacity unit-2 of Darlipali Super Thermal Power Project has successfully completed trial operation and has been included in the installed capacity of the company.

* RELIANCE COMMUNICATIONS: The Department of Telecommunications is inching towards cancellation of the telecom licence of the company-- over payment default. It is learnt that a show cause notice would be issued to the company, according to procedure, before moving ahead with the cancellation. (BS)

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* RELIANCE INDUSTRIES: Sporadic restrictions to contain the second wave of COVID-19 in India had an adverse impact on the company's retail operations and supply chain, which reflected in the segment's subdued earnings for the June quarter.

Reliance Jio Infocomm posted a net profit of 35.01 bln rupees in Apr-Jun, up 4.2% on quarter, while its revenue rose 3.7% sequentially to 179.94 bln rupees.

Will start natural gas production from MJ field--the third and the last set of discoveries that the firm is developing in the eastern offshore KG-D6 block--in the last quarter of 2022 to raise overall output by about two- thirds. (PTI)

* SUZLON ENERGY: The company's securities issue committee has approved the allotment of 12.1 mln shares on conversion of 1,304 dollar- denominated convertible bonds due in 2032 at 2.61 rupees per share.

* UNITES SPIRITS: Board has approved the sale of its entire stake and compulsory convertible preferential shares in digital payments company Hip Bar for a total of 5.2 mln rupees.

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