Weekly trading diary: 7th to 11th August 2023

[Tradingqna]

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

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Recap of how markets performed in the week gone by

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Things to look forward to in the coming week;

Corporate earnings

7th August	8th August	9th August	10th August	11th August	12th August
Emami Limited	Adani Ports and SEZ Limited	Bata India Limited	Apollo Tyres Limited	Astral Limited	Aurobindo Pharma Limited
Gland Pharma Limited	Chambal Fertilizers & Chemicals Limited	IRCTC	Biocon Limited	Glenmark PharmaLimited	Crompton Greaves
Godrej Consumer Products Limited	Coal India Limited	Bharat Forge Limited	Cholamandalam Financial Holdings	Godrej Industries Limited
PB Fintech Limited	Hindalco Industries Limited	Tata Power Company Limited	Grasim Industries Limited	Jindal Steel & Power Limited
Tata Chemicals Limited	Siemens Limited	Zee Entertainment Enterprises Limited	Hero MotoCorp Limited	National Aluminium
			IPCA Laboratories Limited	Info Edge (India) Limited
			LIC	Nykaa
			Pidilite Industries Limited	ONGC Limited
			SAIL	Zydus Lifesciences Limited

Macroeconomic events

7th August		8th August		9th August		10th August		11th August
			US	Crude Oil Inventories	India	RBI Interest Rate Decision	India	CPI Inflation (July)
					US	CPI Inflation (July)	UK	GDP Growth (Q2 CY23)
						Jobless Claims (July)	US	PPI Inflation (July)

[Praneet_Kumar]

stocks to watch out for the week!!!

Indian market technicals | Zerodha

[Tradingqna]

Nifty and Sensex continued gains for the second consecutive session, rising around 0.4 percent for the day ahead of the upcoming US inflation data. US futures are trading higher.

Brent Crude: 85.47 -0.89%
USD INR Spot: 82.7431 -0.066%.
India 10Y Bond yield: 7.199 0.08%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

REC was the top gainer.

Aditya Birla Fashion and Retail was the top loser.

Earnings Update:

Emami: Net Profit: Rs. 137.7 cr 86.6% YoY; Revenue: Rs.825.6 cr 6.8% YoY.

GNFC: Net Profit: Rs. 88 cr 84.6% YoY; Revenue: Rs. 1,652 cr 38.7% YoY.

Gland Pharma: Net Profit: Rs.194.1 cr 15.3% YoY; Revenue: Rs. 1,208.7 cr 41.1% YoY.

India Cements: Net Loss: Rs. 75.3 cr against profit of 79 cr YoY; Revenue: Rs. 1,393 cr 4.1% YoY.

Tata Chemicals: Net Profit: Rs.523 cr 11.8% YoY; Revenue: Rs. 4,218 cr 5.6% YoY.

News

According to the data by FADA, Automobile retail sales in July posted a 10% YoY year-on-year growth selling 1.77 million units. Three-wheelers posted a record growth of 74%.

Paytm surged 7% after founder and CEO Vijay Shekhar Sharma entered into an agreement with Antfin to purchase a 10.3% stake in Paytm through an off-market transfer.

Telecom infrastructure companies were up between 5 to 20% after the Union Cabinet approved an allotment of around Rs 1.3 trillion for the next phase of BharatNet.

Yatharth Hospital and Trauma Care Services closed with an 11% premium over the issue price on August 7, the listing day.

[Tradingqna]

Benchmark indexes closed slightly lower as global markets remained cautious ahead of key US inflation data and the RBI’s monetary policy statement. US futures indicate a weak start.

Brent Crude: 83.48 -2.18%
USD INR Spot: 82.7968 0.065%.
India 10Y Bond yield: 7.164 -0.46%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Manappuram Finance was the top gainer.

Ramco Cements was the top loser.

Earnings Update:

Adani Ports: Net Profit: Rs. 2,114.7 cr 82.6% YoY; Revenue: Rs. 6,247.6 cr 23.5% YoY.

Birla Corp: Net Profit: Rs. 59.7 cr 3.6% YoY; Revenue: Rs. 2,408.5 cr 9.3% YoY.

Hindalco: Net Profit: Rs. 600 cr 58.6% YoY; Revenue: Rs.19,904 cr 2% YoY.

Oil India: Net Profit: Rs. 1613.4 cr 10% YoY; Revenue: Rs. 4,531 cr 16% YoY.

News

Manappuram Finance’s shares gained 5% on August 8 as subsidiary Asirvad Microfinance beat expectations in Q2. The microfinance firm posted a consolidated net profit of Rs 111 crore, up from a Rs 8.3 crore loss last year. YoY revenue soared 77% to Rs 637 crore.

India’s July fuel consumption rose 1.9% YoY to 18.09 million tonnes, per Petroleum Planning and Analysis Cell data. Yet, demand remained 6.6% lower than the previous month’s 19.36 million tonnes.

Italian bank shares plummeted as the cabinet sanctioned a 40% windfall tax on lenders’ 2023 “excess” profits. Deputy Prime Minister Matteo Salvini stated the levy on extra profits, resulting from elevated interest rates, would fund tax reductions and aid mortgage holders.

Hero MotoCorp rose 4% as the company said that it had received over 25,000 orders for the Harley Davidson X440 since the bookings opened on July 4, 2023.

China’s exports fell 14.5% year on year in July, the biggest drop in more than three years, while imports declined 12.4%, owing mostly to poor global demand and a weakening economy in China.

[Tradingqna]

Nifty and Sensex retraced from their day’s lows to end the session with gains of around 0.3%. US futures indicate a good start.

Brent Crude: 86.97 0.93%
USD INR Spot: 82.8166 0.024%.
India 10Y Bond yield: 7.178 0.14%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Bharat Forge was the top gainer.

Bata India was the top loser.

Earnings Update:

Bata India: Net Profit: Rs. 106.8 cr 10.3% YoY; Revenue: Rs. 958.1 cr 1.6% YoY.

Berger Paints: Net Profit: Rs. 354.4 cr 39.9% YoY; Revenue: Rs. 3,029.5 cr 9.8% YoY.

IRCTC: Net Profit: Rs. 231 cr 7% YoY; Revenue: Rs. 1,001.8 cr 17.5% YoY.

Tata Power: Net Profit: Rs. 972.5 cr 22.4% YoY; Revenue: Rs. 15,213.3 cr 5% YoY.

News

As per L&T’s CEO SN Subrahmanyan, the company plans to invest up to $12 billion over the next five years, with a third of that going toward expanding its clean energy business, with the company intending to build 2-3 million tonnes of green hydrogen and ammonia capacity.

India’s toy exports increased 60% from $203.46 million in 2018-19 to $325.72 million in 2022-23 as an outcome of the government’s proactive steps to promote the domestic toy industry: Ministry of Commerce and Industry.

According to data from the Thai Rice Exporters Association, rice prices are at a 15-year high, owing to growing concerns about global supplies as dry weather threatens Thai production and India’s ban on non-basmati rice exports.

[Tradingqna]

Benchmark indices closed nearly half a percent down following weak global cues and the unchanged key policy repo rate in RBI’s Monetary Policy. US futures are trading higher.

Brent Crude: 87.28 -0.31%
USD INR Spot: 82.8372 0.024%.
India 10Y Bond yield: 7.152 -0.36%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Zee Entertainment Enterprises was the top gainer.

Granules India was the top loser.

Earnings Update:

Grasim: Net Profit: Rs. 355.3 cr 56.1% YoY; Revenue: Rs. 6,237.6 cr 14% YoY.

Manappuram: Net Profit: Rs. 498 cr 76.7% YoY; NII: Rs. 1,378 cr 38.2% YoY.

NCC: Net Profit: Rs. 173.5 cr 33.9% YoY; Revenue: Rs. 4,380.4 cr 31.9% YoY.

Page Industries: Net Profit: Rs. 158.3 cr 23.5% YoY; Revenue: Rs. 1,240 cr 7.6% YoY.

News

Zeel Ltd rose 16% after the NCLT approved a merger between an Indian unit of Japan’s Sony and the company, 2 years after the merger was announced.

The governor of the RBI has announced that scheduled banks will be required to maintain an incremental cash reserve ratio of 10% on the increase in their net demand and time liabilities between May 19 and July 28 beginning on August 12th.

Adani Enterprise clarified in an exchange filing that no planned events require a disclosure after media reports suggested that Adani Group was exploring selling its 44% stake in Adani Wilmar.

[Tradingqna]

Nifty and Sensex fell over half a percent in the final trading session of the week, ending the week down by ~0.5%. US futures indicate a mixed opening for US markets.

Brent Crude: 86.93 +0.61%
USD INR Spot: 82.7796 -0.07%
India 10Y Bond yield: 7.2+0.64%

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Nifty 50 heat map.

More stats at: http://technicals.zerodha.com

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Amongst the F&O stocks

Hindustan Copper was the top gainer
Apollo Tyers was the top loser

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Earnings Update:

NMDC: Net Profit: Rs. 1,661 cr 12.9% YoY; Revenue: Rs. 5,394.7 cr 13.2% YoY.

JSPL: Net Profit: Rs. 1,681.8 cr 15% YoY; Revenue: Rs. 12,588.3 cr 3.5% YoY.

HAL: Net Profit: Rs. 814.1 cr 30.3% YoY; Revenue: Rs. 33,915.4 cr 8.1% YoY.

Apollo Hospitals: Net Profit: Rs. 173.4 cr 46.5% YoY; Revenue: Rs. 4,417.8 cr 16.4% YoY.

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News

Shares of HCL Technologies surged over 3% after the company got a contract worth $2.1bn from Verizon Communications to manage its network business customers.

As per IT department data, the gross direct tax collection grew at the rate of 15% to Rs. 6.53 lakh crores till August 10, in the current financial year. Net direct tax collection after adjusting refunds stood at Rs 5.84 lakh crore, higher by 17.33% YoY.

US CPI inflation increased to 3.2% in July from 3% in June, marking the end of a 12-month streak of reductions due to base effects.