This week Nifty, Sensex & Banknifty have ended in green. Many companies including Tata Motors, Infosys, Axis Bank, L&T, Tata Power have declared their quarterly results. Many startups have raised funding from Venture Capitalist and Private Equity firms. Following are the details of what happened in the market this week.
Indices
| Nifty = 2.62% | Sensex = 2.67% | Nifty Bank = 2.05% |
| Nifty Next 50 = 1.90% | Nifty Small Cap = 0.47% | Nfty Mid Cap = 2.02% |
| Nifty IT = 3.49% | Nifty Auto = -0.72% | Nifty FMCG = -0.04% |
| Nifty Metal = 7.69% | Nifty Pharma = 1.26% | Nifty Energy = 1.55% |
FII / DII Activity
Foreign Institutional Investors (FII) has sold more than Rs.145 crore of equities this week. Whereas, Domestic Institutional Investors have purchased more than Rs.2200 crore this week.
| Date | FII (Rs. Crore) | DII (Rs. Crore) |
| 25-Jul-2022 | -844.78 | -72.26 |
| 26-Jul-2022 | -1548.29 | 999.36 |
| 27-Jul-2022 | -436.81 | 712.03 |
| 28-Jul-2022 | 1637.69 | 600.29 |
| 29-Jul-2022 | 1046.32 | -0.91 |
| Net Purchased / Sold | -145.87 | 2238.51 |
Results
Infosys: India’s 2nd largest IT company announced its result for the quarter April-June. The consolidated revenue rose 23.6% year-on-year (YoY) basis to Rs.34,470 crore. Whereas, the net profit rose only 3.2% YoY basis to Rs.5,360 crore.
Axis Bank: The private sector lender Axis Bank reported a robust growth of 91% in net profit to Rs.4,125 crore. Also, Net Interest Income (NII) rose 21% to Rs.9,384 crore. Gross Non-performing assets (GPA) fell to 2.76% compared to 3.85% YoY. Moreover, Net Non-performing assets (NPA) slipped to 0.64%.
Tech Mahindra: Tech Mahindra reported a drop in consolidated net profit of 16% YoY basis to Rs.1,132 crore. The revenue for April-June rose by 24.6% to Rs.12,708 crore.
Tata Steel: India’s one of the biggest steel manufacturer Tata Steel reported a jump in revenue by 18.6% to Rs.63,430 crore YoY basis. Whereas, net profit falls to 12.8% to Rs.7,765 crore.
L&T: Larsen & Toubro, an Indian multinational conglomerate company reported a 22% rise in revenue to Rs.35,853 crore YoY basis. The net profit also jumped by 45% to Rs.1,702 crore.
Tata Power: The largest energy company reported a robust profit growth of 103% to Rs.795 crore compared to last year. The revenue also shot up by 43% to Rs.14,495.48.
Maruti Suzuki: India’s largest automobile maker Maruti Suzuki reported 51% jump in revenue to Rs.25,286 crore YoY basis. The net profit also rose by 129.76% to Rs.1,012.80 crore.
Tata Motors: Tata Motors reported consolidated net loss of $5,006.60 for April-June quarter. The revenue increased about 9% to Rs.71,227.16 crore.
Bajaj Finance: The NBFC giant reported a surge of 159% in net profit to Rs.2,596 crore. The net interest income also rose by 48% to 6,638 crore.
Bajaj Finserv: Another diversified NBFC Bajaj Finserv reported 14% increase in total income to Rs. 15,888 crore. The net profit jumped by 57% to Rs.1,309 crore.
News
Big bull Rakesh Jhunjhunwala has decreased his stake to 1.39% in tractor manufacturer Escort.
Zomato stock tanks 12.67% to Rs.46.85 as its lock-in period ends. The stock is already down about 67% from it’s all time high.
Private Equity flow to India hit $27.6 billion within the first 6 months of 2022.
HCL Tech’s CEO, C Vijaykumar received total compensation of Rs.130 crore in FY 2021-22.
Mahindra & Mahindra, the largest tractor maker in the world is planning to set up a plant in Brazil. Brazil is the 6th largest tractor market in the world.
The International Monetary Fund (IMF) cuts India’s growth forecast to 7.4% from 8.2% for FY23 due to monetary policy tightening and inflation.
Adani Group will invest $70 billion in green energy transition and infrastructure. It is working towards making ‘Green Hydrogen’ which is generated from the electrolysis of water.
Startups
Indian immigrants founded 66 US unicorns, which means valuation of over $1 billion. Moreover, 4 out of 10 immigrants founded unicorns are from India.
Innoviti Payment Solution gets RBI approval for payment aggregator license.
Zomato-Blinkit deal gets approval from shareholders. Also, Zomato allotted 46.5 million equity shares from its Employee Stock Option Plan (ESOP) at an exercise price of Rs.1/share.
Logistics startup Shiprocket has acquired technology business Omuni for Rs.200 crore.
Edtech Startup has upGrad has acquired Harappa Education for about Rs.300 crore.
Ola Electric will invest about $500 million in an R & D facility for electric vehicle (EV) battery cells.
