Ashis Biswas, Head of Technical Research at CapitalVia Global Research:
The market witnessed the continuation of positive trend, and an attempt to breach the level of 16350, after a reversal from the support level around 16200 yesterday. The market sustains above the level of 16350, the market expects to gain momentum, leading to an upside projection till 16450-16500 level. The momentum indicators like RSI and MACD indicating a positive outlook to continue.
Market Close:
Benchmark indices ended near the day's high level supported by the IT and PSU Banking names.
At close, the Sensex was up 318.05 points or 0.58% at 54843.98, and the Nifty was up 82.10 points or 0.50% at 16364.40. About 2314 shares have advanced, 816 shares declined, and 113 shares are unchanged.
Power Grid Corp, Tech Mahindra, Tata Motors, HCL Technologies and L&T were among major gainers on the Nifty, while losers included Eicher Motors, Grasim Industries, ONGC, Dr Reddy’s Labs and IndusInd Bank.
Except pharma, all other sectoral indices ended in the green with IT, power, PSU bank, realty and capital goods indices rose 1-2.5 percent. BSE Midcap and Smallcap indices added 1-2 percent.
Amarjeet Maurya - AVP - Mid Caps, Angel Broking:
During the 1QFY22, Bharat Forge Ltd (BFL) reported consolidated revenue of ~ Rs 2108 crore (up ~ 83% YoY) mainly due to healthy recovery in sales. On the consolidated EBITDA front, the company has reported profit of Rs 450 crore against loss of Rs 14 crore in 1QFY21 due to better operating leverage.
On the bottom-line front, the company has reported profit of Rs 153 crore against loss of Rs 127 crore due to higher sales and better operating performance.
Going forward, we expect BFL to report strong top-line & bottom-line growth on the back of demand outlook visibility and expect margin expansion on back of higher growth in the defence sector and sustained recovery in the auto space. We are positive on the stock with a buy rating.
Chemplast Sanmar IPO fully subscribed
The initial public offering (IPO) of Chemplast Sanmar, a specialty chemicals manufacturer, has been subscribed 1.84 times on August 12, the final day of bidding.
The offer received bids for 7.35 crore equity shares against an IPO size of 3.99 crore shares, the subscription data available on exchanges showed.
The portion set aside for qualified institutional buyers was subscribed 2.56 times and that of non-institutional investors saw 23 percent subscription.
Aptus Value Housing Finance IPO:
The public offer of retail-focussed housing finance company Aptus Value Housing Finance India is subscribed 10.41 times, garnering bids for 57.38 crore equity shares against IPO size of 5.51 crore equity shares on August 12, the final day of bidding, the subscription data available on exchanges showed.
The portion reserved for qualified institutional buyers witnessed 20.61 times subscription and that of non-institutional investors got subscribed 18.48 times.
Nifty pharma index fell 1 percent dragged by the Lupin, Aurobindo Pharma, Cadila Healthcare:
Market at 3 PM
Benchmark indices were trading near the day's high level in the final hour of the trading.
The Sensex was up 324.68 points or 0.60% at 54850.61, and the Nifty was up 84.70 points or 0.52% at 16367. About 2189 shares have advanced, 769 shares declined, and 88 shares are unchanged.
IRCTC share price touches 52-week high:
Indian Railway Catering & Tourism Corp (IRCTC) share price touched a 52-week high of Rs 2,727.95, rising 6 percent on August 12 after company announced stock split and better numbers for the quarter ended June 2021.
"... in its board meeting recommended the proposal for sub-division of 1 equity share of face value of Rs 10 each into 5 equity shares of face value of Rs 2 each, subject to the approval of Ministry of Railways, shareholders and other approvals as may be required," compnay said in the release.
The company has reported a net profit of Rs 82.52 crore in the quarter ended June 2021 against loss of Rs 24.6 crore, while revenue was up 85.4% at Rs 243.36 crore versus Rs 131.33 crore.
BPCL Q1 results:
The company has reported net profit at Rs 1,501.7 crore versus Rs 11,940.1 crore and revenue was down 7.8% at Rs 70,922 crore versus Rs 76,882.3 crore, QoQ.
Bharat Petroleum Corporation was quoting at Rs 445.70, down Rs 4.20, or 0.93 percent on the BSE.
Mazagon Dock Shipbuilders Q1 earnings:
The company has reported net profit of Rs 101.6 crore in Q1FY22 against Rs 14 crore in Q1FY21. Its revenue was up at Rs 1,214.2 crore versus Rs 383.9 crore.
Mazagon Dock Shipbuilders was quoting at Rs 255.50, up Rs 15.95, or 6.66 percent on the BSE.
PSU Bank index added nearly 1 percent led by the IOB, Punjab & Sind Bank, J&K Bank:
Chemplast Sanmar IPO fully subscribed on final day of bidding:
The initial public offering (IPO) of Chemplast Sanmar, a specialty chemicals manufacturer, had been fully subscribed on August 12, the final day of bidding.
The offer received bids for 4.30 crore equity shares against an IPO size of 3.99 crore shares, the subscription data available on exchanges showed.
Aptus Value Housing Finance IPO subscribed 5.58 times:
The public offer of retail-focussed housing finance company Aptus Value Housing Finance India is subscribed 5.58 times, garnering bids for 30.74 crore equity shares against IPO size of 5.51 crore equity shares on August 12, the final day of bidding, the subscription data available on exchanges showed.
The portion reserved for qualified institutional buyers witnessed 9.79 times subscription and that of non-institutional investors got subscribed 10.82 times.
Retail investors have put in bids for 93 percent of the portion set aside for them.
Market at 2 PM
Benchmark indices were trading at day's high level in the afternoon session.
The Sensex was up 298.49 points or 0.55% at 54824.42, and the Nifty was up 82.50 points or 0.51% at 16364.80. About 2208 shares have advanced, 725 shares declined, and 92 shares are unchanged.
Lupin shares fall more than 6%:
Shares of Lupin fell more than 6 percent in intraday trade on August 12 on BSE and looked on course toextend their losing run into the fourth consecutive session.
The stock is not witnessing a fresh wave of selling now. In fact, it has been in the red on a monthly basissince June 2021.In the current calendar year so far, the stock has gained 7 percent against a 14 percent gain in thebenchmark Sensex.
However, the selling in the stock has intensified after the company released its June quarter scorecard onaugust 10 after the market hours. The stock fell more than 6 percent on August 11.
Sensex is near day's high. IT stocks such as Infosys, Tech Mahindra, HCL Tech and TCS are among the top contributors.
Natco Pharma Q1:
Consolidated net profit fell 38.6 percent to Rs 75 crore against Rs 122.1 crore YoY. Revenue declined 27.2 percent to Rs 410.3 crore against Rs 563.4 crore YoY. EBITDA declined 35.6 percent to Rs 109.8 crore against Rs 170.4 crore YoY. EBITDA margin came at 26.8 percent against 30.2 percent YoY.
Tech Mahindra expands collaboration with Microsoft:
Tech Mahindra has expanded its collaboration with Microsoft to strengthen hybrid cloud capabilities. The collaboration aims to leverage Microsoft Azure Stack HCI, a new hyperconverged infrastructure (HCI) solution to accelerate hybrid cloud transformation, consolidate virtualized workloads and build enterprise resilience, company said in the release
Tech Mahindra touched a 52-week high of Rs 1,382 and was quoting at Rs 1,372.70, up Rs 49.40, or 3.73 percent.
Market at 1 PM
Benchmark indices extended the gains with Nifty around 16350.
The Sensex was up 251.35 points or 0.46% at 54777.28, and the Nifty was up 72.50 points or 0.45% at 16354.80. About 2197 shares have advanced, 701 shares declined, and 90 shares are unchanged.
BSE Capital Good Index rose 1 percent led by the Carborundum Universal, Finolex Cables, BHEL:
Asian Markets Update:
Asian shares retreated on Thursday as worries about Chinese regulatory changes and the spread of the Delta variant of the coronavirus weighed on sentiment despite tame U.S. inflation easing fears the Federal Reserve would rush to reduce support.
CLSA maintains sell with target at Rs 970:
Broking house CLSA has maintained sell call with a target at Rs 970 per share. It has cut FY22-24 EPS by 3-11%.
The initiatives for longer-term growth should lead to earnings rebound after 3 tough years, while execution track record has been patchy with 45-70% EPS cuts over past 4 years, said CLSA.
Lupin was quoting at Rs 985.00, down Rs 65.20, or 6.21 percent on the BSE.
Chemplast Sanmar IPO sees subscription of 33%:
The initial public offering (IPO) of Chemplast Sanmar, a specialty chemicals manufacturer, had been subscribed 33 percent by the morning of August 12, the final day of bidding.
The offer received bids for 1.32 crore equity shares against an IPO size of 3.99 crore shares, the subscription data available on exchanges showed.
The portion set aside for qualified institutional buyers was subscribed 2 percent and that of non-institutional investors saw 10 percent subscription.
Retail investors have put in bids 1.63 times their reserved portion. The public issue opened for subscription on August 10.
Market at 12 PM
Benchmark indices extended the gains and trading at day's high level.
The Sensex was up 213.60 points or 0.39% at 54739.53, and the Nifty was up 61.70 points or 0.38% at 16344. About 2166 shares have advanced, 689 shares declined, and 90 shares are unchanged.
Nifty IT index is up with decent gains with all components in the green.
More than 130 stocks hit 52-week highs on BSE:
More than 130 stocks, including Bharti Airtel, Infosys, HCL Tech, Bata India, Tech Mahindra, Vedanta, Indoco Remedies, KPIT Technologies, Laurus Labs, Larsen & Toubro Infotech, Tata Chemicals and VIP Industries, hit their fresh 52-week highs in intraday trade on BSE.
Market at 11 AM
Indian benchmark indices were trading higher with Nifty holding above 16300.
The Sensex was up 147.62 points or 0.27% at 54673.55, and the Nifty was up 43.70 points or 0.27% at 16326. About 2126 shares have advanced, 670 shares declined, and 78 shares are unchanged.
Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments:
The market is once again trading above the 16300 level. If we can close above this, we should be headed to 16600 as the next target level. Since the trend is positive, traders should focus on accumulating long positions on dips and/or intra day corrections.
Gold Updates:
Gold prices steadied on Thursday after rising more than 1% in the previous session, as worries of an early tapering in economic support eased after data showed U.S. consumer price inflation cooled in July.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
Global equity markets have positive news from the US inflation data for July which has come at 0.5% month on month. This is slightly lower than expected and confirms the Fed thesis that inflation is transitory. The positive response of Dow and S&P to the inflation numbers and the decline in the Dollar index will strengthen the bulls. However, investors should exercise caution in this exuberant bull market since valuations are stretched and risks are rising.
Healthy development in the market is the steady removal of froth in the mid-and small-cap segments which are down 3.5% and 6% respectively from their peaks. At the same time, the return of quality like HDFC twins, Kotak Mahindra Bank, Bharti Airtel, and RIL bode well for the market health.
BSE Power index added 1 percent supported by the Powwr Grid, Torrent Power, Indian Energy Exchange
Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities:
USDINR continued to languish in a narrow range as positive cues from strong US Dollar Index is offset by FPI flows in the primary market and soft oil prices. Spot closed flat near 74.44 levels.
However, RBI remains an aggressive buyer and hence USDINR will remain supported at lower levels. We are looking for USDINR to trade within a range of 74.25 to 74.65 levels on spot.
VIP Industries share price gains nearly 11%
VIP Industries share price added nearly 11 percent on August 12 after company reported robust numbers for the quarter ended June 2021.
The company has posted consolidated net profit of Rs 2.53 crore against loss of Rs 51.32 crore in a year ago period.Its total revenue jumped to Rs 220.58 crore versus Rs 58.21 crore, YoY.
Market at 10 AM
Benchmark indices are trading higher in the volatile session with Nifty above 16300.
The Sensex was up 117.76 points or 0.22% at 54643.69, and the Nifty was up 39 points or 0.24% at 16321.30. About 1958 shares have advanced, 681 shares declined, and 73 shares are unchanged.
BSE Smallcap index gained 1 percent led by the Punjab Chemicals And Crop Protection, VIP Industries, Nelco:
Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities:
USDINR continued to languish in a narrow range as positive cues from strong US Dollar Index is offset by FPI flows in the primary market and soft oil prices. Spot closed flat near 74.44 levels.
However, RBI remains an aggressive buyer and hence USDINR will remain supported at lower levels. We are looking for USDINR to trade within a range of 74.25 to 74.65 levels on spot.
Investors Meeting Schedule:
Buzzing
Cadila Healthcare share price shed 2 percent on August 12, a day after the pharma company reported a 29 percent year-on-year (YoY) jump in net profit at Rs 587 crore for the quarter ended June 30 (Q1FY22) led by strong growth in domestic formulation business and COVID-19 drug sales.
It had reported Rs 454 crore net profit in Q1FY21. Total income from operations for the quarter was Rs 4,025 crore, up 15 percent from the previous year.
Earnings before interest, depreciation and tax (EBIDTA) for the quarter were Rs 933 crore, up 18 percent YoY. The EBIDTA margin came in at 23.2 percent, an improvement of 140 basis points on a quarter-on-quarter (QoQ) basis.
SGX Nifty performance over the last 1-month:
Results on August 12:
Tata Steel, Eicher Motors, Hero MotoCorp, Aurobindo Pharma, BPCL, Oil India, Ashok Leyland, Bharat Forge, Ansal Properties & Infrastructure, Apollo Micro Systems, Ashapura Minechem, Avanti Feeds, Clariant Chemicals (India), Dishman Carbogen Amcis, Dish TV India, Engineers India, Finolex Cables, Gujarat Pipavav Port, GR Infraprojects, HCC, HealthCare Global Enterprises, HUDCO, Ind-Swift Laboratories, IRCON International, IRCTC, JB Chemicals, KNR Constructions, Matrimony.com, Max India, Mazagon Dock Shipbuilders, Mishra Dhatu Nigam, Minda Corporation, Natco Pharma, NMDC, Page Industries, Power Finance Corporation, RailTel Corporation of India, RCF, Redington (India), RITES, Sadbhav Infrastructure Project, Schneider Electric Infrastructure, Skipper, Sundram Fasteners, Suryoday Small Finance Bank, Thyrocare Technologies, Trident, Ujjivan Financial Services, and Venus Remedies will release their quarterly earnings on August 12.
Cipla gets final USFDA nod:
Cipla has received final approval for its Abbreviated New Drug Application (ANDA) for Difluprednate Ophthalmic Emulsion 0.05% from the United States Food and Drug Administration (US FDA), company said in the release.
Cipla was quoting at Rs 906.65, down Rs 3.60, or 0.40 percent.
Gainers and Losers on the BSE Sensex:
Market Opens
: Indian indices opened higher on August 12 with Nifty above 16300 amid mixed global cues.
The Sensex is up 149.92 points or 0.27% at 54,675.85, and the Nifty up 41.20 points or 0.25% at 16323.50.About 1443 shares have advanced, 541 shares declined, and 77 shares are unchanged.
Sapphire Foods files draft papers with SEBI to raise funds
Sapphire Foods' IPO process has kickstarted with the largest franchise operator of YUM! Brands in the Indian subcontinent in terms of revenue in FY20, filing the Draft Red Herring Prospectus with capital market regulator SEBI.
Sapphire Foods IPO comprises 1,75,69,941 equity shares and is a complete offer for sale by shareholders.
Japan wholesale inflation hits 13-year high as import costs rise
Japanese wholesale prices rose in July at their fastest annual pace in 13 years, data showed on Thursday, a sign the global commodity inflation and a weak yen were pushing up raw material import costs for a broad range of goods.
The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 5.6% in July from a year earlier, Bank of Japan data showed, beating a median market forecast for a 5.0% gain.
