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The Financial Snaps

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Major Index Performance (4 July – 8 July)

Nifty 50: ▲ 2.97% Nifty Bank: ▲ 4.72% Nifty IT: ▲ 0.66%
Nifty Next 50: ▲ 3.99% Nifty FMCG: ▲ 5.68% Nifty Midcap 150: ▲ 3.92%
Nifty Auto: ▲ 3.52% Nifty Metal: ▲ 2.19% Nifty Pharma: ▲ 1.54%

*Data as per 8 July 2022 3:30

FII & DII Activity Cash (27 June – 01 July)

FII : ▼2,218 Crore DII: ▲3,910 Crore

*Data as per 8 July 2022

Financial Sector

  • HDFC Bank gets RBI nod for HDFC merger
  • As of 30 June 2022, RBL Bank’s total deposits increased by 6% to Rs 79,217 crore from Rs 74,471 crore as of 30 June 2021.
  • IDFC First Bank’s total deposits climbed to 20.6% to Rs 1,02,363 crore as on 30 June 2022 as against Rs 84,893 crore as on 30 June 2021.
  • RBI imposes fine of Rs 1 crore each on Kotak Mahindra Bank, IndusInd Bank.
  • IndusInd Bank’s net advances jumped 18% to ₹2,49,541 crore in Q1FY23 compared to ₹2,10,727 crore in Q1 of the last year.
  • IndusInd Bank partners with MoEngage to deliver a differentiated digital experience for its customers.
  • Yes Bank loans rise by 14% in June-end.
  • Muthoot Finance gets RBI nod to open 150 new branches across India.
  • Bank of Baroda plans to issue long-term bonds to fund infra, affordable housing sectors.
  • Federal Bank’s gross advances grow 8% in Q1, total deposits stood at Rs 169,393 crore as against Rs 155,938 crore in the year-ago period.

IT Sector

  • Outokumpu Partners with TCS on its Cloud-First Transformation Journey.
  • US court confirms $140 million penalty on Tata Consultancy In 2014, Epic Systems filed a lawsuit alleging TCS had stolen its intellectual property. The US-based firm had alleged that TCS employees stole important data US court reduces penalty charges on TCS to $140 million.
  • Infosys tops CRISIL’s ESG Scores for the Second Consecutive Year.
  • Intellect Quantum Central Banking Solution was chosen as the Digital Transformation partner for Bank of Mauritius, a leading Central Bank in Africa.

Metal Sector

  • Tata Steel Limited complete the acquisition of Neelachal Ispat Nigam Limited through its step-down Subsidiary, Tata Steel Long Products Limited.
  • Vedanta Ltd reported a 3 percent increase in its aluminium production to 5,65,000 tonnes in the April-June quarter of the ongoing fiscal.
  • Indian metal shares surge as demand hopes build after China’s $220 billion stimulus plan.

Pharma Sector

  • Cipla’s Indore plant gets two USFDA observations.

Auto Sector

  • Maruti Suzuki India achieved total production of 144,409 units in June 2022 compared to 165,576 units in June 2021.
  • Maruti Suzuki to ramp up production; make 11000 units of 2022 Brezza in July.
  • HC upholds BEST’s call to disqualify Tata Motor’s bid for e-buses.
  • Royal Enfield Sales June 2022 – 43% Growth In Total Sales, Exports Soar 54% YoY.
  • Hero MotoCorp allowed to use ‘Hero’ trademark for its EVs.
  • British International Investment to invest up to Rs 1,925 crore in Mahindra’s four-wheeler EV business.
  • HeroMotoCorp launches Hero Dirt Biking Challenge.

 

Author: MSFL Advisory Team

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