Open Interest addition was seen in 11500/11400 Calls and 11100/11700 Puts.

RBI Buys Insurance With Consecutive Rate Hikes The minutes of the recent Reserve Bank of India's Monetary Policy Committee or MPC meeting suggest that the rate hike was implemented on the back of the hardening of core inflation, elevated crude oil prices, hardening of inflation expectations, higher-than-normal increase in minimum support prices or MSP for kharif crops and also factoring in the possibility of fiscal slippage. It was also supported by sustained domestic recovery despite considerable uncertainty on the global growth outlook. The consecutive rate hikes were intended to be both pre-emptive and front-loaded, and as described by Dr. Chetan Ghate, MPC member, akin to an insurance policy'. There was also widespread acknowledgment...

Trade deficit for the month of July came in at a five-year high of USD 18bn against the upward revised deficit of USD 17.1bn in June.

Consumer delivered, some green shoots in Industrial

Mixed quarter: For 1QFY19, LT Foods Ltd (LTFL's) revenue grew 11.7% YoY largely driven by branded basmati rice segment (up 18%). EBITDA declined 2.1% with margin contraction of 156bps to 11.1%. Benefit of Lower other expenses (-341bps) was offset by higher raw material (+532bps). Lower...

Consolidated revenue of CG Power & Industrial Solutions (CG Power) grew by 11.3% YoY to Rs14.9bn in 1QFY19 led by robust 15% YoY growth in Industrial Systems. PAT from continuing operations stood at Rs45mn vs. Rs423mn loss in 1QFY18, while its loss including discontinued operations remained flat at Rs855mn. Looking ahead, we expect CG Power's consolidated earnings to recover on low base and exit from loss-making assets in Hungary and Belgium. We...

Nirmal Bang Institutional Equities held an Investor Conference on the 9th and 10th of August, 2018. 9 companies from the Banking & Financials Sector participated at the Conference. We hosted and interacted with senior management from these companies, gleaning incremental strategic insight into the performance and outlook of the respective companies. Detailed takeaways from our discussions with senior management of each of these 9 companies follow from page 2 of this report. The following companies and their respective senior management from the Banking &...

India trade deficit widens to $18.02b vs $11.45b y-o-y in July Asian Markets are trading mixed amid disappointing result from China's tech major Tencent and weak cues from Wall Street overnight. Nikkei is trading higher by 0.10%, while Hangseng is trading lower by 0.03%, Shanghai is trading lower by 0.19%. Indian indices are expected to open marginally lower. Sgx Nifty is trading lower by 0.20%. The U.S. markets ended lower as decline in technology stocks and retail major Macy's dampened investor sentiments. The Dow Jones lost 138...

Given competitive intensity in the industry and the back ended nature of our EPS, we continue to maintain our NEUTRAL stance with a revised TP of Rs 101, based on a EV/EBITDAR target multiple of 8x on a Sep 20E EBITDAR. SpiceJet printed an impressive 1QFY19 revenue of Rs 22.4bn (+19.6% YoY). Unlike that of Indigo, Spicejets yield continued to move upwards and came in at Rs 4.07, +2.7% YoY (Indigos at Rs 3.62, -5.5% YoY). Additionally, the company also rationalized its costs by turning in one of its wet leases thereby reducing its lease rentals costs by 6.2% QoQ. EBITDA growth was commendable +20.4% QoQ (but -63.3% YoY) despite higher (+12.1% QoQ) fuel costs and Rs 509.1mn forex losses (on liabilities).

Headline CPI inflation fell to a nine-month low of 4.17% YoY in July from 4.92% in the previous month. The decline in food inflation helped ease headline CPI as the food & beverages index was down from 3.11% to...

CPI Inflation Eases To 4.17% YoY Even As EM Jitters Rule NBIE Values your patronage- Vote for The Team in the Asia Money poll Consumer Price Index or CPI inflation eased to 4.17% in July 2018, down from 5% in 2018. Click Here the previous month and below consensus and our estimate of 4.5%. Core inflation eased to 6.29% from 6.45% led by the easing of petrol and diesel prices. Food and beverage inflation stood at 1.7% YoY, down from 3.1% in the previous month. While the easing of food inflation was partially on account of a high base last year, the...

ICICI Securities Ltd | Retail Equity Research India Cements (ICL) reported mixed Q1FY19 results. Revenues increased 5.5% YoY to | 1,360.7 crore (vs. I-direct estimate: | 1,377 crore). Growth was mainly driven by sales volumes, which were up 15.8% YoY to 3.08MT. ICL achieved capacity utilisation of ~80%, which is far better given the south region has excess capacity However, the pricing environment remained weak due to low demand from retail and non-institutional segment. Also, costs like power (up...

losses and instead provided it in one quarter. The bank has posted strong growth in the net interest income, while showing improvement in NIM to eight quarter high level in Q1FY2019. The bank has improved the asset quality in...

Mahindra & Mahindra Ltd.'s profit misses estimates Mahindra and Mahindra (M&M;) posted strong financials for the first quarter ended June 2018 with profit rising over 67%. The company posted a profit of Rs 1,257.22 crore against Rs 751.76crore it posted during the same quarter last year. Revenues were higher by 23% at Rs 13,357.66crore against Rs 10,877.54 crore year on year.Big rise in other income helped fuel the bottoline growth further in addition to good performance at the operating level. Performance was supported by both automotive and tractor business.Total auto sales (passenger and commercial vehicles) during the quarter improved 19.6% to 1.39 lakh units...

TBZ sales declined by 7.5% and SSG declined by 3.6% on soft demand for Jewellery, high base in 1Q18 and inauspicious days in June'18. Gross margins expanded in both Gold and Diamond, however, EBITDA margins declined 110bps due to heavy spending on the newly launched wedding Jewellery range, changed strategy of communication and rationalization of...

Results Today: Sun Pharmaceutical, Grasim Industries, Allahabad Bank, Bharat Dynamics, Cox & Kings, Dilip Buildcon, Finolex Cables, Fortis Healthcare, Gujarat Fluorochemicals, HDIL, IDBI Bank , GMR Infra, Indiabulls Real Est, Indiabulls Ven, LA Opala, MMTC, Navkar...

NII increased to Rs. 1806.99 Cr in Q1FY19 compared to Rs. 1637.72 Cr in Q4FY18. Indian Bank Q1FY19 results Comment

Operating Income decreased by 6.03% to Rs. 2403.39 Cr in Q1FY19 when compared to the previous quarter. Edelweiss Financial Services Ltd Q1FY19 results Comment

Revenue grew by 1.59% to Rs. 13519.91 Cr in Q1FY19 when compared to the previous quarter. Mahindra & Mahindra Ltd Q1FY19 results Comment