Gold tumbles by ₹126; silver slips to ₹66,856

Gold within the nationwide capital on Monday dipped ₹126 to ₹46,967 per 10 gm in keeping with a fall in worldwide treasured metallic costs, in accordance with HDFC Securities. Within the earlier commerce, the valuable metallic had closed at ₹47,093 per 10 gm. Silver additionally went decrease by ₹97 to ₹66,856 per kg from ₹66,953 per kg within the earlier commerce. Within the international market, gold was buying and selling decrease at $1,805 per ounce and silver was flat at $25.39 per ounce

Rupee tumbles 31 paise to shut at 74.88 (provisional) in opposition to US greenback

Market closing

The Sensex closed at 52,553.40, down 586.66 factors or 1.10%, whereas the Nifty was at 15,752.40, down 171.00 factors or 1.07%. The HDFC twins weighed down on the indices, with HDFC Life additionally buying and selling decrease submit Q1 outcomes. Pharma, realty have been outliers. The volatility index, or VIX, closed 8.32% increased on Monday. On the 30-share Sensex, NTPC, Nestlé India, Dr Reddy’s, Solar Pharma, and UltraTech closed in inexperienced, whereas the HDFC twins, IndusInd Financial institution, Axis Financial institution, and 21 different shares closed in purple.

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HDFC Life trades decrease

HDFC Life Insurance coverage Co reported consolidated internet revenue of ₹3.02 billion in comparison with ₹4.51 billion a 12 months in the past. The insurer’s Q1 internet funding earnings fell 20% year-on-year to ₹69.6 billion. The corporate’s st5ock was buying and selling at ₹679.00 every down 2.72% at 3:28 pm.

Suryoday SFB positive aspects

Suryoday SFB reported provisional whole deposits as at 30 June of ₹33.17 billion in comparison with ₹28.69 billion a 12 months in the past. The provisional gross advances as at 30 June have been at ₹40.82 billion in comparison with ₹35.34 billion a 12 months in the past. The June whole assortment effectivity was at 70.1% in contrast 67.5% in Might. The corporate’s inventory was buying and selling at ₹216.00 every up 2.49% at 3:24 pm.

Govt’s excise collections on petrol, diesel jumps 88% to ₹3.35 lakh cr

The Union authorities’s tax collections on petrol and diesel jumped by 88% to ₹3.35 lakh crore within the 12 months to 31 March, after excise responsibility was raised to a report excessive, the Lok Sabha was knowledgeable on Monday. Excise responsibility on petrol was hiked from ₹19.98 per litre to ₹32.9 final 12 months to recoup acquire arising from worldwide oil costs plunging to multi-year low as pandemic gulped demand.

The identical on diesel was raised to ₹31.8 from ₹15.83 a litre, in accordance with a written reply to a query given by the minister of state for Petroleum and Pure Gasoline Rameswar Teli within the Lok Sabha.

SC reserves order of revision of Voda Concept, Airtel AGR dues

TVS Motor Co to speculate ₹1,000 cr in EVs

TVS Motor Co. plans to speculate ₹1,000 crore to fabricate electrical automobiles. Sudarshan Venu, the corporate’s joint Managing Director, stated that the proposed EVs will fall underneath an impartial vertical. TVS Motor is engaged on its 5-25kW two- and three-wheelers portfolio, and plans to launch them by 2023.

Bharti Airtel trades decrease

The telco’s inventory was buying and selling at ₹540.50 apiece, down 0.09% at 3:11 pm. The Supreme Courtroom noticed that it has reiterated a number of occasions how AGR dues can’t be recalculated.

Vodafone Concept trades decrease on AGR listening to

The telco’s inventory was at ₹9.22 apiece, down 2.43% at 3:08 pm. The DoT counsel has requested the Supreme Courtroom for 2 days to find out if any steering on risk of revision of AGR dues quantity.

FATF overview of India’s anti-money laundering, terror financing regime postponed once more to 2022

An analysis by international organisation Monetary Motion Activity Drive (FATF) to analyse the effectiveness of India’s anti-money laundering and countering terrorist financing regime has been postponed for the second time in view of the continuing COVID-19 pandemic and is now slated to be initiated subsequent 12 months, officers stated. (Learn right here)

AGR dues case: Thrice stated that quantity cannot be recalculated, SC observes

Indian Financial institution positive aspects on Q1 outcome

Indian Financial institution’s inventory was at ₹139.70 apiece, up 1.12%, at 2:30 pm. The financial institution reported Q1 standalone internet revenue of ₹11.8 billion in comparison with ₹3.69 a 12 months in the past and ₹17.09 billion within the earlier quarter. The state-owned lender’s gross NPAs stood at 9.7% in comparison with 9.85% within the earlier quarter. Internet NPAs have been at 3.47% in comparison with 3.37% within the earlier quarter.

Document metal costs inject life into long-suffering business

There’s hardly ever been a greater time to be within the metal enterprise. Costs have boomed worldwide this 12 months, smashing report after report. Roaring industrial demand is propelling these rallies, with vegetation straining to spice up provide after mendacity dormant throughout the pandemic. On prime of that, powerhouses China and Russia try to restrict exports to assist different industries at house… The optimism is a far cry from the previous decade, when Western makers closed vegetation and shed staff as low demand had their mills working under capability. Final 12 months alone, 72 blast furnaces have been idled, in accordance with UBS Group AG. This 12 months, US President Joe Biden desires to spend on infrastructure, and the European Union desires to spend on reaching net-zero emissions. Producers resembling Nucor Corp., U.S. Metal Corp. and SSAB AB are amongst these set to grow to be revenue machines. ArcelorMittal SA, the world’s largest outdoors of China, will earn greater than McDonald’s Corp. or PepsiCo Inc., in accordance with analysts’ estimates. (Bloomberg)

Used automotive retailing startup Spinny raises $108 mn led by Tiger World

Used automotive retailing startup, Spinny on Monday stated that it has raised $108 million, in major and secondary fund infusion, as part of its Sequence D spherical led by New York-based Tiger World Administration. New investor Avenir Progress additionally participated within the spherical, together with current buyers together with, Common Catalyst and others. The newest spherical features a major capital infusion of $105 million and a secondary share sale price $3 million, by choose angels and early-stage buyers. It comes barely three months after the startup had raised $65 million as part of its Sequence C spherical led by Common Catalyst.

Toyota pulls olympics television advertisements, CEO to skip opening ceremony

Toyota Motor Corp. received’t air tv commercials in Japan throughout the Olympics and its president received’t attend the opening ceremony as considerations about holding the Video games amid the pandemic mount simply days earlier than they’re as a result of get underway. The choice by Toyota, which stays a worldwide sponsor of the occasion, comes after US tennis star Coco Gauff withdrew as a result of she contracted covid-19 and as two South African footballers examined optimistic on the athletes’ village. (Bloomberg)

Zomato CEO Deepinder Goyal joins Magicpin Board as impartial director

On-line enterprise discovery and rewards platform Magicpin on Monday stated Zomato co-founder and Chief Government Officer Deepinder Goyal has joined its board as an impartial director. Goyal joins the prevailing board and advisors that include Bejul Somaia (Managing Director of Lightspeed Enterprise Companions), Vivek Gambhir (CEO of Boat Life-style), and Manish Kheterpal (Managing Director at Waterbridge), a press release stated. (PTI)

No ED probe into Adani group: MoS finance tells parliament

• Sebi probing some Adani group cos for compliance
• DRI investigating sure Adani group cos underneath legal guidelines formulated by it
• FPI holding in Adani group cos dynamic

Retail gross sales down 50% in June: Retailers Affiliation of India

Regardless of unlocking in varied components of the nation after the extreme second wave of covid-19 infections, retail gross sales throughout India have been down 50% in June’21 in comparison with june’19, Retailers Assocation of India (RAI) stated in its month-to-month retail enterprise spherical up launched Monday. “Retail companies proceed to be burdened and are discovering it troublesome to maintain as a result of restricted timing of operations and weekend closures,” Kumar Rajagopalan, CEO, Retailers Affiliation of India (RAI), stated in a press release. Retail gross sales have been down almost 80% within the month of Might because the second covid wave surged throughout the nation. The lifting of restrictions has since helped in mobility and demand. (Learn right here)

Fineotex Chemical positive aspects

Fineotex Chemical has entered right into a three way partnership with Healthguard Australia to grow to be the unique international advertising and marketing and gross sales channel associate with joint operations from Malaysia, it stated in a regulatory submitting. The corporate’s inventory was up 1.77% to ₹97.65 a bit at 1:44 pm.

UPL could think about 20% strategic stake sale: report

Retail gross sales down 50% in June: Retailers Affiliation

Reatil gross sales in June 2021 have been down 50% in comparison with June 2019, the Retailers Affiliation of India stated. The 12 months 2020 was not counted on account of the pandemic, the business physique stated.

M&M to recall 600 automobiles manufactured at Nashik plant as a result of engine points

Mahindra & Mahindra introduced on Monday proactive inspection and substitute of diesel engines in a few of its automobiles manufactured at Nashik manufacturing facility for suspicion of untimely put on of engine components as a result of contaminated gasoline that was obtained within the manufacturing facility. “This can be a restricted batch of lower than 600 automobiles manufactured between twenty first June to 2nd July 2021 and is maintaining in keeping with the corporate’s buyer centric method,” the corporate stated in a regulatory submitting. (Learn right here)

HDFC twins, ICICI Financial institution prime drags

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Goldman Sachs to rent over 2,000 by 2023 for Hyderabad workplace

Goldman Sachs stated it is new workplace right here will rent over 2,000 workers by 2023, a press launch from the funding banker stated on Monday. The corporate on Monday introduced the opening of its new workplace right here as a part of its dedication to increase its international centre for engineering and enterprise innovation and in India, a press launch from Goldman Sachs stated. (PTI)

Rajya Sabha proceedings adjourned until 2 pm amidst opposition uproar over varied points

HDFC Financial institution prime drag

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SAT reserves order in PNB Housing preferential concern: report

*The Securities Appellate Tribunal requested Sebi’s counsel whether or not there may very well be differential pricing for a preferential allotment

AGR listening to at 1 pm: studies

Dow Futures down almost 200 pts

Oil firms race forward in EV charging house

Not desirous to be left behind within the race for renewables and electrical automobiles, oil advertising and marketing firms are racing forward with their plans to increase their presence within the renewable power house. Final week state-run Hindustan Petroleum Company Ltd (HPCL) joined arms with Tata Energy for establishing end-to-end EV charging stations at HPCL’s stores or petrol pumps in a number of cities and main highways throughout the nation. (Learn extra)

Godawari Energy and Ispat positive aspects

Godawari Energy and Ipsat’s inventory was buying and selling at ₹1,483.25 apiece, up 5.00% at 12:31 pm. Chhattisgarh Atmosphere Conservation Board accredited the operation of enhanced capability of iron ore beneficiation plant to 32,84,000 tonnes every year (tpa) from from 10,00,000 tpa. The operation of the plant with the improved capability is predicted to start inside every week, the corporate stated in a regulatory submitting.

Indiabulls RE, Status realty drive positive aspects

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Merchandise manufactured and offered in India are 100% vegetarian, Mondelez clarifies

Packaged meals firm Mondelez has clarified that its merchandise made and offered in India are 100% vegetarian after screenshots suggesting that its Cadbury Dairy Milk model could include gelatine derived from beef surfaced on social media platforms in India on Sunday. The screenshots shared extensively on social media platforms, nevertheless, have been pertaining to the corporate’s merchandise offered in markets abroad and never in India. In India, its merchandise are 100% vegetarian, the corporate stated.

Maruti companions with Financial institution of Maharashtra to assist sellers get inexpensive credit score

Maruti Suzuki India Ltd –nation’s largest automaker – on Monday introduced partnership with Financial institution of Maharashtra to supply inexpensive finance choices to sellers for purchasing and sustaining car stock. Beneath this partnership, Financial institution of Maharashtra’s ‘Mahabank Channel Financing’ scheme shall present complete financing alternatives for the corporate’s supplier companions throughout the nation. With car gross sales declining greater than two years now, auto sellers’ financials have taken a big hit. The lockdown as a result of second wave of Covid infections derailed the restoration in gross sales witnessed since September final 12 months. Therefore, Maruti and different automakers have been collaborating with banks to facilitate entry to finance possibility for supplier dad and mom to push car wholesales.

HDFC Financial institution drags

The financial institution’s inventory was buying and selling at ₹1,479.00 apiece, down 2.81% at 11:50 am. The nation’s largest personal sector lender on Saturday reported a 16.1% year-on-year (YoY) rise in internet revenue at ₹7,729.64 crore within the quarter ended 30 June, 2021. The financial institution had posted a internet revenue of ₹6,658.62 crore within the corresponding quarter a 12 months in the past.

Sachin Bansal’s Navi Nifty 50 Index Fund Collects Over Rs. 100 Cr in NFO

Navi Mutual Fund, a part of Sachin Bansal’s technology-driven BFSI group Navi, whose NFO was open from 3 July 2021 to 12 July 2021 amassed greater than Rs. 100 Cr from round 17,000 buyers, a launch issued by the corporate stated. The fund is now open for investments throughout all on-line funding channels or by way of monetary advisors. On-line channel contains platforms like Groww, Coin by Zerodha, Paytm Cash, IND Cash and extra. The gathering comes even because the Nifty trades near its all time highs of round 15,924. In an interview to Mint in Might 2021, Saurabh Jain, managing director and CEO, Navi Mutual Fund stated the brand new fund home will give attention to lowering the price of investments for buyers with the assistance of expertise. (Learn right here)

Agritech startup Otipy raises $10.2 mn from buyers

Agritech Startup Otipy, which markets contemporary greens, fruits and different grocery objects by way of its app, has raised $10.2 million (round ₹76 crore) from buyers together with SIG and Omidyar Community to increase enterprise. The Sequence A funding of $10.2 million was led by SIG. Omidyar Community India, Innoven Capital and current buyers IPV (Inflection Level Ventures), Pravega, and FactorE additionally participated within the spherical, the corporate stated in a press release. Otipy had earlier raised $2 million in 2020, led by IPV. (PTI)

What Reliance Industries-Simply Dial deal means for buyers

Shares of Simply Dial Ltd declined by 4% in early offers on Monday on the Nationwide Inventory Alternate after it stated Reliance Retail Ventures Ltd would purchase a controlling stake (of greater than 40%) within the firm. Reliance Industries owns 85% stake in Reliance Retail. As part of the deal, Reliance Retail would make an open supply to accumulate as much as 26% stake in Simply Dial for about Rs1020 per share. That is 5% decrease than Simply Dial’s closing worth on Friday. Relying on the subscription of the open supply, Reliance Retail would find yourself owing about 41-67% of Simply Dial after the transaction is accomplished.

Clear Science and Expertise will get inexperienced sign from buyers

Clear Science and Expertise Ltd (CSTL) had a stellar inventory trade debut on Monday, with its shares itemizing at almost double the difficulty worth. Investor confidence has been robust for speciality chemical producers, given agency demand and realisations. (Learn right here)

Not like telecom or aviation, Indian paint sector will not grow to be absolutely organised

Consolidation has picked tempo within the Indian paints business, particularly submit the coronavirus pandemic. Massive listed firms working within the ornamental paints section resembling Asian Paints Ltd and Berger Paints India Ltd proceed to realize market share from smaller and regional paint makers. It must be famous that smaller/ unorganised corporations are current largely within the ornamental paints and have negligible presence within the industrial paints section. They largely promote low worth paints resembling distempers, primers, and putty. (Learn right here)

Covid pandemic has gripped total world; need significant discussions in Parliament over it: PM Modi forward of Monsoon session

Simply Dial trades decrease

Simply Dial’s inventory was buying and selling at ₹1,025.00 apiece, down 4.50%. Reliance Retail Ventures Ltd (RRVL) will purchase 66.95% in Simply Dial Ltd for ₹3,497 crore, giving the retail arm of India’s most beneficial firm entry to a database of thousands and thousands of retailers and different customers. Reliance Retail might be labeled as a promoter of Simply Dial submit this deal, it stated on Friday. (Learn right here)

Pegasus surveillance: Govt denies snooping allegations

The names of over 40 Indian journalists appeared on the leaked record of potential targets for surveillance by an unidentified company utilizing Pegasus spyware and adware, in accordance with a report printed in The Wire. In the meantime, the ministry of electronics and knowledge and expertise refuted the studies of surveillance of journalists. (Learn extra)

Larsen & Toubro trades decrease

L&T’s inventory was buying and selling at ₹1,611.95 apiece, down 0.44% at 10:31 am. The corporate has secured important contracts throughout enterprise traces, it stated in a regulatory submitting. The worth of the tasks could accrue to be within the ₹1,000-2,500 crore.

Razorpay acquires TERA Finlabs

Fintech startup Razorpay on Monday stated it has acquired TERA Finlabs, a Bengaluru-based startup that gives expertise, threat and capital options to allow embedded financing options for companies. TERA Finlabs is an Indian subsidiary of UK-based digital lender, GAIN Credit score. The corporate, nevertheless, didn’t disclose the monetary particulars of the transaction. (PTI)

Nifty quote: Manish Hathiramani, proprietary index dealer and technical analyst, Deen Dayal Investments

“The markets have opened with a niche down, however the index nonetheless managed to maintain above the 15,700 stage. Because of the graduation of the brand new week, the assist is now upgraded from 15,400 to fifteen,600. So long as we don’t break this on a closing foundation, intra day dips or corrections will be utilized to build up lengthy positions for a goal of 16,000-16,100.”

India studies 38,164 new covid instances, energetic tally dips additional

India recorded 38,164 new covid-19 instances within the final 24 hours, the Union well being ministry stated on Monday. The day by day positivity fee has been under 3% for 27 consecutive days. (Learn right here)

HDFC twins prime drags

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GR Infraprojects lists at 100% premium

GR Infraprojects listed at ₹1,700.00 apiece, up 103.11% from its IPO worth of ₹816 per share.

Clear Science and Tech lists at 98% premium

Clear Science And Expertise lists at ₹1,784.40 apiece, up 98.27% over IPO worth of ₹837 per share.

J&J eyes placing Child Powder case liabilities into chapter 11: report

Johnson & Johnson is exploring a plan to dump liabilities from widespread Child Powder litigation right into a newly created enterprise that might then search chapter safety, in accordance with seven individuals conversant in the matter. (Learn right here)

IT, realty acquire

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Market opening

The Sensex opened at 52,606.99, down 533.07 factors, or 1.00%, whereas the Nifty was at 15,754.50 down 168.90 factors or 1.06%. On the 30-share Sensex, Titan, NTPC, Energy Grid, HUL, and Asian Paints opened in inexperienced, whereas the HDFC twins, IndusInd Financial institution, ICICI Financial institution, and 21 different shares opened in purple.

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Petrol, diesel costs at the moment unchanged

Gas costs have been unchanged on Monday with petrol now retailing at ₹101.84 in Delhi, whereas diesel at ₹89.87. In India’s monetary capital Mumbai, petrol is being offered at ₹107.83 per litre, whereas diesel has reached ₹97.45 per litre. (Learn right here)

Crypto costs at the moment; Bitcoin, ether, dogecoin proceed to fall

Cryptocurrency costs at the moment continued to commerce decrease with Bitcoin costs falling over 2% to $31,590.8. The world’s largest cryptocurrency has been caught in a spread between about $30,000 and $40,000 for months after reaching its all-time excessive close to $65,000. As per CoinDesk, ether, the coin linked to ethereum blockchain, declined 5% to $1,882. Dogecoin, however, was down over 7% to $0.17 whereas different digital tokens like Cardano, XRP, Litecoin additionally fell within the vary of 3-8% over the previous 24 hours. (Learn right here)

Walmart’s Flipkart says CCI probe should not deal with it similar as Amazon

Walmart’s Flipkart shouldn’t be handled the identical as rival Amazon in an Indian antitrust probe because the proof in opposition to the 2 corporations was “qualitatively completely different”, Flipkart argued in a court docket submitting seen by Reuters. Each Amazon and Flipkart have challenged the Competitors Fee of India (CCI) in court docket as they search revocation of an Indian court docket’s June determination to permit an antitrust probe in opposition to them to proceed. The businesses deny any wrongdoing. (Learn right here)

Market outlook

Markets are prone to be underneath stress on Monday whereas tendencies in SGX Nifty recommend a weak opening of Indian benchmark indices. On Friday, the BSE Sensex ended at 53,140.06, down 18.79 factors or 0.04%. The Nifty closed at 15,923.40, down 0.80 factors. (Learn right here)

Shares to Watch

Adani group, Cadila, HDFC Financial institution, LIC Housing, Telecom shares, amog different shares could also be in focus at the moment. (Learn right here)

Oil declines after OPEC+ agrees to spice up manufacturing into 2022

Oil declined after Opec+ agreed to spice up manufacturing into 2022, resolving a bitter inside dispute that had shaken the alliance with a pledge to revive thousands and thousands of barrels of crude output to the power market. World benchmark Brent shed greater than 1%, whereas West Texas Intermediate fell. The Group of Petroleum Exporting International locations and its allies will add 400,000 barrels a day every month from August till all its halted output has been revived. The deal additionally offers Saudi Arabia, the UAE, Iraq, Kuwait and Russia increased baselines in opposition to which their cuts are measured from Might 2022. (Learn right here)

FPIs flip cautious, pull out ₹4,515 cr from Indian equities in Jul to this point

International portfolio buyers (FPIs) have pulled out ₹4,515 crore from the equities section within the first half of July as they flip cautious in the direction of the Indian market. “With markets buying and selling close to all-time excessive, FPIs would have chosen to guide income. They’ve additionally been staying on the sidelines given excessive valuations and most probably on the again of the danger of a possible third wave of the coronavirus pandemic,” stated Morningstar India Affiliate Director (Supervisor Analysis) Himanshu Srivastava. (Learn extra)

Blackstone in talks to accumulate controlling stake in Simplilearn: report

Personal fairness agency Blackstone in remaining stage of talks to accumulate a majority stake in on-line studying platform Simplilearn, Moneycontrol.com reported citing a number of individuals with information of the matter. “Blackstone will purchase a controlling stake in Simplilearn in a transaction which provides the mixed agency an enterprise worth of $350 million. An official announcement is predicted shortly,” one of many individuals stated.

Indian steelmakers set to realize as China weighs taxes on exports

Indian steelmakers are prone to reap bumper income if China imposes an export tax on its metal to chill home costs, analysts stated. China’s metal exports rose 23% in June to six.5 million tonnes (mt) from the previous month (75% from a 12 months in the past) regardless of the removing of export rebates, in accordance with the commerce knowledge launched by the nation. (Learn right here)

Lenskart raises $220 mn as India’s tech business is having a breakout 12 months

India’s Lenskart, a web based retailer for eyewear, raised $220 million from buyers together with Temasek Holdings Pte and Falcon Edge Capital, in one other signal of booming curiosity within the nation’s expertise startups. (Learn right here)

Asian markets open decrease

Asian shares slipped once more on Monday whereas perceived protected haven property, together with the yen and gold, edged increased as investor threat urge for food was soured by fears of rising inflation and a relentless surge in coronavirus instances.

MSCI’s broadest index of Asia-Pacific shares outdoors Japan fell 0.4% for its second straight day of losses.

Japan’s Nikkei dropped 1.3% as did Australia’s benchmark share index. South Korea’s KOSPI was 1% decrease whereas New Zealand’s shares have been off 0.4%.