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• Microfinance stocks such as Equitas and Ujjivanmay be ripe for the plucking, having gained up to 90% since company listing. While most analysts are optimistic about this sector, expecting credit growth, others have taken a contra view and initiated shorts on Equitas as well as on Ujjivan Financial Services with target prices of Rs 142 and Rs 372, respectively. ET
• With Amazon cornering the Indian e-commerce market, it may be too late now for Alibaba, which is considering an Indian entry with the acquisition of ShopClues. Alibaba had initially considered Snapdeal before the Indian company hit a valuation wall and is struggling for growth. LiveMint
• Uber will allow Indian users to smaller cities to book a cab without installing its app, via a web app. The new feature has been introduced in cities including Kochi and Nagpur, and takes its battle with Ola to the smaller towns. BS
• Now that the Indian government has eased foreign investment in retailing, allowing 100% FDI in selling of processed food, Walmart is eyeing the market and may be serious about an entry. The entry of the giant would reshape the market while potentially bringing down food costs for customers. However, Walmart has been criticised elsewhere for low labour pay and long hours for workers. Firstpost
• Photo of the day: A man arranges the display in his stall, which is loaded with rakhi offerings for Rakshabandhan today. Reuters
   

   

• In an effort to reduce cash burn amid slowing funding, Ola has shut down TaxiForSure, which it acquired for over $200 million in March last year. Taxi For Sure had been forced to sell to its rival due to slower funding and problems with cab aggregator safety, which had discouraged its investors from providing more money to the startup. Ola is now facing similar challenges with Indian regulators and stiff competition from Uber. BS
• Food prices continue to drive inflation up, with the Wholesale Price Index now at 3.55%, up from 1.62% the previous month. Fighting inflation has been a priority of the RBI, but the bank has limited tools against supply side problems, which is driving prices up in the present cycle. Recent droughts, weather shifts and weak agri growth have all driven up the prices of food. Firstpost
• Amid the new slogan of 'reform, perform and transform' in his Independence Day speech, Modi has promised institutional reform that will result in less harrasment of taxpayers, better governance, and better access to services. He has also committed to stronger control of inflation, a concern amid rising prices. LiveMint
• India has moved up 15 places in the Global Innovation rankings thanks to information and technology exports, reaching 66th place. FE
• Photo of the Day: Badminton player PV Sindhu is now one win away from a medal at the Rio Olympics after defeating Wang Yihan of China. Reuters/FE

It's a marathon research reports roundup this week! Sixty six company stocks saw BUY reports from analysts. Five company stocks saw a SELL report from analysts. Thirty nine stocks came in as HOLD/NEUTRAL.

Pick of the week: Indian Oil Corporation Limited - IOCwhich has received three price upgrades and a target price between Rs. 602- Rs 620. 

Source: Trendlyne Research Reports Summaries

• RBI Guv Raghuram Rajan mentions PM Modi while trying not to. In an interview Rajan said that "anything I say about Prime Minister Modi will be problematic." It's a no-win situation for Rajan in his efforts to avoid controversy, where his refusal to answer a question about Modi itself generates headlines. NDTV
• The merging of group firms Aditya Birla and Grasim isn't exactly good news for shareholders, with the ABG's financial services arm to be carved out into a separate company, and potentially higher debt coming into the books for Grasim. Firstpost
• Bank stocks are going to take some time to recover say analysts, with poor earnings and asset quality in PSU banks resulting in reputations taking a beating. Best to wait and watch for the next 12 months. ET
• Telecom companies have taken their fight against Jio and interconnect charges all the way to the PMO, but Jio is planning to expand its testing phase with free call and data offerings to customers even further in the coming months. Jio says it will add employees from selected companies to its free testing plans. LiveMint
• Photo of the Day: Saina Nehwal wins her badminton match at the Olympics against Brazilian player Vicente, facing both the Brazilian and a raucous home crowd strongly supporting her opponent. IE/Associated Press

Tomorrow the government will release some overall economic data, at 5:30 pm. There are hopes that the Manufacturing Output and Industrial Production numbers will show a boost, encouraging investors that India's economy is on the healthy track, especially with ongoing worries on global growth. 

Also included in this announcement will be the number that caused outgoing RBI Governor Raghuram Rajan so much heartburn in recent months: the Consumer Price Index number, which tracks inflation in prices for Indians. The graph above shows that the CPI has been rising over the target 4% rate in recent months. The last figure was 5.77% - it is now forecast to hit close to 6% in the announcement tomorrow. 

• Advertising is coming to the Railways: In a bid to increase revenues, the Railway Ministry is likely to launch a Rail Display Network, which will include advertising on digital screens set up across railway stations, and potentially trains across the rail network. ET
• The Supreme Court will hear Airtel and other telco complaints about interconnection charges increasing, as Jio users call other networks for free. Jio has hit back against complaints, saying that existing telcos are trying to prevent Jio entry and increased competition in the space. LiveMint, ET
• Dilip Buildcon has made a healthy debut into the stock market, listing at 10% premium over its offer price. The public offer despite a slow start had been oversubscribed 20.95 times. FE
• The Delhi AAP government has introduced a draft policy that will regulate cab app companies like Uber and Ola. This will require them to take state taxi licenses in Delhi, and ban surge pricing. Firstpost
• Photo of the Day: The swimming pool in the Rio Olympics turns a bright shade of green, and swimmers say they are unable to see their partners under water during the team events. Reuters

• Telecom operators are alleging that Reliance Jio's free trials to subscribers are choking their own networks, as Jio users call customers on other networks for free. In a letter to the telecom secretary, telcos are alleging predatory pricing by Jio. BS
• Non performing assets rose in all three state run banks that reported their quarterly results yesterday, with IOB and UCO also declaring losses. LiveMint
• Marc Faber, economic writer and editor, says he would rather invest in India than US for the next decade, considering India's higher growth prospects and economic outlook. ET
• Retailers are clamoring for action against e-commerce players like Amazon, Flipkart and Paytm for allegedly violating FDI norms. The DIPP however says it lacks the authority to enforce regulations against these companies. FE
• Photo of the Day: Indian rower Dattu Baban Bhokanal has entered the quarterfinals of the rowing competition at the Rio Olympics, and will be competing for a berth in the semi-finals. Reuters

• Winners and losers of GST: Some sectors set to see increased prices on their products due to GST, others like IT likely to benefit more from the law. ET 
• Data growth is slowing for telecom companies Idea and Bharti Airtel, and firms are trying to lure customers with bundled packages with cheaper price tags. FE
• RBI has kept its key interest rate unchanged at 6.5%, citing growing consumer inflation. This is the last policy review headed by the current RBI governor Raghuram Rajan. The government has yet to name his successor. LiveMint
• The PMO released salary details of key staffers as part of the RTI Act, and Bhaskar Khulbe, the prime minister's secretary, is the highest paid on the list with a monthly salary of Rs. 2.01 lakh. BS 
• Photo of the Day: India's men's hockey team at Rio. Reuters

• The government is likely to see a big boost in disinvestment revenue as 30 cash-rich PSUs including ONGC, NTPC, Power Grid, ONGC Videsh and BHEL will start buying back a portion of their own shares during the year. FE
• Policy rates unlikely to be changed by RBI tomorrow, according to economists, and Raghuram Rajan is likely to let the new RBI governor decide on rate cuts versus status quo. LiveMint
• TRAI has decided to review interconnection charges that telecom companies pay each other when customers call between networks, much to telcos' dismay. Telecom companies allege that the review is being done to benefit a new entrant and plan to take TRAI to court. NDTV
• GST will be taken up in Lok Sabha today to ratify the amendments made in the Rajya Sabha. Aiming for early implementation, Union Ministers have spoken to state chief ministers in BJP ruled states to ensure that the assemblies pass the bill in the state quickly. Firstpost
• Photo of the Day: The Flying Gymnast, Dipa Karmakar becomes the first Indian gymnast to enter the vault finals at the Rio Olympics. Reuters/NDTV Sports

• You know that you in the bull market when Reliance decides to raise money. Even as RIL plans to commission $35 billion worth of projects in FY17, it plans to raise Rs 10,000 via NCDs. With the incoming RJio launch, Reliance continues to trend. ET
• Tata stocks seem to be recovering lost ground due to Brexit. Both Tata Steel and Tata Motors are up by more than 5% today.
• Livemint talks about how the political battle on GST was won. LM
• IBM creates world’s first artificial phase-change neurons. (TL;DR AT) Engadget
• Photo of the day(mashable) - First ever refugee Olympics team. Mirror