Weekly trading diary: 24th to 28th July 2023

Tradingqna · July 23, 2023, 3:31pm

Welcome to the weekly trading diary, a thread for discussing your trades, strategies, ideas, news, stories, etc.

Here’s how the markets fared in the week gone by;

Things to look forward to in the coming week

Earnings

24th July	25th July	26th July	27th July	28th July	29th July
HDFC AMC	Bajaj Auto Limited	Axis Bank Limited	ACC Limited	Indian Oil Corporation	IDFC First Bank Limited
IDBI Bank Limited	Delta Corp Limited	Bajaj Finance Limited	Bajaj Finserv Limited	Marico Limited	NTPC Limited
PNB Housing Finance Limited	Larsen & Toubro Limited	Bharat Petroleum Corporation Limited	Indian Energy Exchange Limited	Nazara Technologies Limited
Poonawalla Fincorp Limited	SBI Life	Cipla Limited	Indus Towers Limited	Piramal Enterprises Limited
TVS Motor Company Limited	Tata Motors Limited	Colgate Palmolive (India) Limited	Nippon Life India Asset Management Limited	SBI Cards
		Dr. Reddy’s Laboratories Limited		United Breweries Limited
		GlaxoSmithKline Pharmaceuticals Limited
		Kajaria Ceramics Limited
		Oracle Financial Services Software Limited
		Punjab National Bank

Macroeconomic events

	24th July		25th July		26th July		27th July		28th July
US	Services PMI (July)	US	Consumer Confidence (July)	US	Fed Interest Rate Decision	Eurozone	ECB Interest Rate Decision	Japan	BOJ Interest Rate Decision
	Composite PMI (July)				Building Permits	US	GDP Growth (Q2 CY23)
	Manufacturing PMI (July)				Home Sales (June)
					Crude Oil Inventories

Praneet_Kumar · July 24, 2023, 12:05pm

my stock for this week will be DHANI. Will add more positions if this breaks above 43.50.

Operator-driven stock. Trade with caution. On chart consolidating for a long while.
Image from Indian market technicals | Zerodha

Tradingqna · July 24, 2023, 1:21pm

Benchmark indices closed the volatile session lower around 0.4%, continuing their downward trend for the second trading session. US futures are trading slightly higher.

Brent Crude: 81.28 0.49%
USD INR Spot: 81.9246 -0.118%.
India 10Y Bond yield: 7.073 -0.20%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

REC was the top gainer.

United Spirits was the top loser.

Earnings Update:

Canara Bank: Net Profit: Rs. 3535 cr 75% YoY; NII: Rs. 8666 cr 27.7% YoY.

IDBI Bank: Net Profit: Rs. 1224 cr 62% YoY; NII: Rs. 3998 cr 60.7% YoY.

HDFC AMC: Net Profit: Rs. 478 cr 52% YoY; Revenue: Rs. 575 cr 10% YoY.

SRF: Net Profit: Rs. 359 cr 41% YoY; Revenue: Rs. 3,338 cr 14.3% YoY.

TVS Motors: Net Profit: Rs. 468 cr 46% YoY; Revenue: Rs 7,218 cr 20% YoY.

News

The labor ministry approved an interest rate of 8.15 percent to be credited into the accounts of roughly 60 million Employees’ Provident Fund Organisation (EPFO) members for the fiscal year 2023 in a circular released on Monday.

ITC, an FMCG giant, received board approval to demerge its hotel business. The demerger creates a wholly-owned subsidiary called ITC Hotels Ltd. ITC will retain a 40% stake, while shareholders will own the remaining 60% based on their shareholding.

Electronics became India’s fourth-largest exported item in the June quarter, jumping two spots and achieving the fastest growth among the top 30 exports. During April-June, electronics exports soared by over 56% to Rs 57,220.24 crore from the previous year’s Rs 36,533.18 crore.

Biocon shares fell 5% after the US Food and Drug Administration (USFDA) issued six observations for its Malaysian manufacturing plant.

Praneet_Kumar · July 25, 2023, 6:25am

25th July mid day action stocks !!!

will look to buy TVS if it sustains above 1390

TechAnalysis · July 25, 2023, 8:17am

thanks for sharing

Tradingqna · July 25, 2023, 1:35pm

Benchmark indices rebounded from the day’s low to end the choppy session flat. Dow and Nasdaq futures indicate a mixed start for US markets.

Brent Crude: 82.22 -0.32%
USD INR Spot: 81.8088 -0.141%.
India 10Y Bond yield: 7.104 0.47%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

TVS Motor was the top gainer.

Can Fin Homes was the top loser.

Earnings Update:

Asian Paints: Net Profit: Rs. 1575 cr 52% YoY; Revenue: Rs. 9182.3 cr 6.7% YoY.

CEAT: Net Profit: Rs. 144.6 cr against profit of 9.3 cr YoY; Revenue: Rs. 2935.2 cr 4.1% YoY.

L&T: Net Profit: Rs. 2493 cr 46.5% YoY; Revenue: Rs. 47,882.4 cr 33.6% YoY.

Tata Motors: Net Profit: Rs. 3090 cr against loss of 4987 cr YoY; Revenue: Rs. 1.02 lk cr 42.1% YoY.

News

India’s aviation regulator DGCA has removed SpiceJet from its enhanced surveillance, saying that the airline had taken suitable maintenance action.

The Indian rupee against the Dollar reached a two-month-high mainly on account of dollar inflows and the Chinese yuan’s advance.

Tata Motors has announced that the company will be converting its DVR shares into ordinary shares issuing 7 ordinary shares for every 10 ‘DVR’ Shares, implying a premium of 23% based on the current closing price.

Hang Seng index had its best day in 18 months, climbing over 4% after China’s Politburo pledged to “adjust and optimize policies in a timely manner” for its ailing property sector.

L&T announced a Rs 10,000 crore buyback program through the tender offer route at a maximum price of Rs 3,000 per share and will involve 3.33 crore shares or 2.4% of the fully paid-up equity share capital.

Tradingqna · July 26, 2023, 1:42pm

Benchmark indices Nifty and Sensex rose over half a percent. The US futures are trading lower, indicating a lower opening for US markets.

Brent Crude: 82.33 -1.11%

USD INR Spot: 81.988 +0.219%

India 10Y Bond yield: 7.098 -0.03%

Nifty 50 heatmap.

More market stats at: Indian market technicals | Zerodha

Amongst the F&O stocks

Vodafone Idea was the top gainer.

Can Fin Homes was the top loser.

Earnings Update:

Cipla: Net Profit: Rs. 996 cr 45% YoY; Revenue: Rs. 6329 cr 17.7% YoY.

Bajaj Finance: Net Profit: Rs. 3437 cr 32% YoY; NII: Rs. 6718.6 cr 27.4% YoY.

Tata Consumer: Net Profit: Rs. 337.7 cr 22.1% YoY; Revenue: Rs. 3741.2 cr 12.5% YoY.

Axis Bank: Net Profit: Rs. 5797 cr 40.5% YoY; NII: Rs. 11,958 cr 27.4% YoY.

News

Can Fin Homes tanked nearly 10% after the company said that employees at one of its branches had committed fraud of nearly Rs. 38.53 crore by transferring funds to different personal bank accounts.

The IMF has raised its GDP growth forecast for India for 2023-24 to 6.1% from 5.9% due to the higher growth number for January-March and the optimism of momentum continuing going forward.

Shares of RBL Bank surged 7% on media reports that the Mahindra group likely bought a 4% stake in the bank via one of its entities.

Tradingqna · July 27, 2023, 1:06pm

Nifty and Sensex tumbled from their highs for the day, falling more than 0.6%. Dow and Nasdaq futures indicate a good start for US markets.

Brent Crude: 83.34 0.94%
USD INR Spot: 81.9923 0.005%.
India 10Y Bond yield: 7.122 0.37%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Cipla was the top gainer.

Mahindra And Mahindra was the top loser.

Earnings Update:

ACC: Net Profit: Rs. 466 cr 105% YoY; Revenue: Rs. 5201.1 cr 16.4% YoY.

Bajaj Finserv: Net Profit: Rs. 1942.6 cr 48.4% YoY; Revenue: Rs. 23,280 cr 46.5% YoY.

IEX: Net Profit: Rs. 75.6 cr 9.7% YoY; Revenue: Rs. 104 cr 5.7% YoY.

Indian Bank: Net Profit: Rs. 1709 cr 40.8% YoY; NII: Rs. 5,704 cr 25.8% YoY.

Laurus Labs: Net Profit: Rs. 28.4 cr 88.8% YoY; Revenue: Rs. 1,182 cr 23.2% YoY.

Shriram Finance: Net Profit: Rs. 1,705.2 cr 26.2% YoY; Revenue: Rs. 8287.4 cr 16.2% YoY.

News

Jio Financial Services Ltd (JFS) and BlackRock have signed an agreement to form a 50:50 joint venture to offer investment solutions with an initial investment of $150 million each in the joint venture.

Cipla surged nearly 10% after reporting the better-than-expected June quarter and also due to better margin guidance for FY24.

M&M cracked 7% on the company’s plan to expand its footprint in the banking sector after picking a 3.53% stake in RBL Bank.

After a pause on rate hikes in June, US Federal Reserve raised its benchmark lending rate to a 22-year high lifting the lending range to 5.25% to 5.5% to bring inflation down to the eventual 2% target.

Tradingqna · July 28, 2023, 12:11pm

Benchmark indexes closed the session slightly down, extending losses into the second trading day. Dow and Nasdaq futures indicate a positive opening for US markets.

Brent Crude: 83.52 -0.32%
USD INR Spot: 82.2465 0.310%.
India 10Y Bond yield: 7.164 0.62%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Indiabulls Housing Finance was the top gainer.

Dr. Lal PathLabs was the top loser.

Earnings Update:

Exide: Net Profit: Rs. 224 cr 10.7% YoY; Revenue: Rs. 4245.5 cr 5.6% YoY.

Marico: Net Profit: Rs. 436 cr 15.7% YoY; Revenue: Rs.2477 cr 3.2% YoY.

M&M Fin: Net Profit: Rs. 353 cr 52.8% YoY; NII: Rs. 1634.1 cr 5.1% YoY.

SBI Cards: Net Profit: Rs. 593.3cr 5.4% YoY; Revenue: Rs. 3912 cr 26.2% YoY.

News

Piramal Enterprises announced that the board of directors authorized a share buyback of up to Rs. 1,750 crores via tender at Rs. 1,250 per share.

Bank of Japan keeps its 10-year bond yield target at 0% but relaxes the 0.5% yield movement ceiling. The short-term negative interest rate remains at -0.1%. The shift indicates a more flexible approach amid improving inflation and economic growth.

The US economy amazed analysts by outpacing forecasts despite rate increases, with GDP increasing by 2.4% YoY in the April–June quarter, largely owing to various forms of investment and higher consumer spending.