Morning Notes
31st Jul, 2019

Trading Range:

Nifty opened gap up at 11214 on Tuesday and made a high and low of 11267 and 11073 respectively before closing negative at 11085.


For the day, support for Nifty exists at 11010 and 10940 levels whereas resistance for Nifty stands at 11140 and 11210 levels.


Bank Nifty opened up at 29435, made a high of 29530, low of 28738, and closed negative at 28792. For the day, support for Bank Nifty exists at 28600 and 28400 levels whereas resistance for Bank Nifty stands at 29000 and 29200 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 37,397 -0.77
Nifty 11,085 -0.93
BSE 200 4,614 -1.04
BSE Midcap 13,546 -1.58
BSE Smallcap 12,649 -2.13
Dow Jones 27,198 -0.09
NASDAQ 8,274 -0.24


NIFTY 11085.40 (-103.80) (-0.93%)
NIFTY AUG FUTURE 11095.20 (9.80 Points Premium)
NIFTY PCR - OI 0.98(-0.13)
NIFTY OPEN INTEREST 1.81Cr. (-0.38%)
INDIA VIX 13.61 (+4.21%)


CALL 11100 CE +1.75 lac Shares
CALL 11200 CE +2.41 lac Shares
PUT 11000 PE -0.94 lac Shares
PUT 11100 PE +0.70 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 15,280 -2.12
Bankex 32,582 -1.86
PSU 6,875 -2.50
Healthcare 12,585 -1.66
IT 15,639 +0.67
Market Turn Over (`cr)
Index 30/07 29/07
BSE Cash 2,278 2,107
NSE Cash 35,300 31,389
NSE F&O 1,360,912 898,331
BSE Delivery % 40.50 42.54
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 17.82 82.18
BSE 200 19.90 79.60
BSE 500 14.77 84.43
Total BSE 20.36 75.56
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 58.17 +0.21
Gold Rs./ 10 Gms 34529.00 -0.52
Silver Rs./ Kg 41570.00 +0.91
Rs.- US $ 68.83 +0.07
Rs.- Euro 76.79 +0.14
FII (Rs cr )
30/07* 29/07*
FIIs -373.93 +3013.15
MFs - -

*Date refers to the day of activity and not the day on which it is reported.

Details Buy Sell Open interest at the
end of the day
Net Position
No. of
(Rs. Cr)
No. of
(Rs. Cr)
No. of
(Rs. Cr)
(Rs. Cr)
Index Futures              60,381.00            4,249.54              45,939.00               3,310.33         1,89,761.00          14,720.26      939.21
Index Options        44,03,865.00      2,93,781.82        43,93,777.00         2,93,235.96         5,15,138.00          39,369.52      545.86
Stock Futures          2,57,460.00          14,441.45          2,38,764.00             13,242.68       14,22,254.00          84,334.84  1,198.77
Stock Options          1,06,269.00            6,292.28          1,06,559.00               6,286.38             50,202.00            2,819.32           5.90
Total        48,27,975.00      3,18,765.09        47,85,039.00         3,16,075.35       21,77,355.00      1,41,243.94  2,689.74
Corporate News
Even as solar and wind power tariffs are yet to settle at sustainable levels Tata Power is looking to scale up its renewable energy capacity five-fold in the next two years. (BL).
Madras Fertilizers Ltd (MFL) on Tuesday informed the stock exchanges it had resumed production of ammonia and urea at its plant in Manali near here. The ammonia and urea plants were shut down from April 1 to undertake feedstock conversion jobs and annual maintenance along with inspection of boilers. (ET).
Century Textiles and Industries expects to complete the demerger of its cement business, and its merger with UltraTech Cement, by this quarter. (BL).
The National Company Law Appellate Tribunal (NCLAT) on Tuesday extended the resolution period of debt-ridden Jaypee Infratech by another 90 days, starting from receipt of the order. The lenders had sought a 260-day extension for the Corporate Insolvency Resolution Process (CIRP). (ET).
The ED on Tuesday recorded the statement of Irfan Siddiqui, son-in-law of senior Congress leader Ahmed Patel, in connection with the multi-crore-rupee bank fraud and money-laundering probe against Gujarat-based pharmaceutical firm Sterling Biotech, officials said. (ET).
Domestic logistics firm Rivigo said in a release it has been granted patent rights by the US Patent and Trademark Office for its driver relay model that uses algorithms to determine the availability of drivers for trucks, enabling drivers to return home each day. (BS).
David Lloyd Leisure, Europe's largest and fastest growing group of premium racquets, health and fitness clubs, in partnership with Talwalkars Better Value Fitness launched the first ‘David Lloyd Clubs Talwalkars’ in Pune. The company has infused Rs.85 crore to build this premium family-oriented club that operates on a membership basis. (BL).
In its second deal in about two week weeks, drugmaker Cipla has forged an exclusive partnership with biopharmaceutical company, Alvotech, for the commercialisation of AVT02, an adalimumab biosimilar, in select emerging markets. (BS).
Corporate Quarterly Earnings
Andhra Cements Ltd on Tuesday reported a higher net loss of Rs.36.94 crore for the quarter ending June compare to that of Rs.31.34 crore in April-June 2018. The company’s total income was down 55.80 per cent during the quarter under review to Rs.41.21 crore as against Rs.93.24 crore in the corresponding quarter a year ago, Andhra Cements said in a BSE filing. (BL).
Retail chain Shoppers Stop on Tuesday reported a consolidated net loss of Rs.10.17 lakh for the quarter ended June 30, 2019. The company had posted a net profit of Rs.4.73 crore in the corresponding quarter a year-ago. Total income during the quarter under review stood at Rs.856.32 crore, as against Rs.858.1 crore in the year-ago period, Shoppers Stop said in a BSE filing. (ET).
HeidelbergCement India Ltd on Tuesday reported a 54.59 per cent increase in net profit at Rs 79.03 crore for the first quarter ended June, 2019. The company had reported a net profit of Rs 51.12 crore in the April-June quarter a year ago. Its total income rose 9.85 per cent to Rs 601.06 crore in June quarter from Rs 547.15 crore in the corresponding quarter of the previous fiscal. (ET).
Textile firm Welspun India on Tuesday reported a 17.49 per cent increase in consolidated net profit at Rs 156.07 crore for the quarter ended June 30. The company had posted a net profit of Rs 132.83 crore for the corresponding period of the previous financial year.. (BL).
Granules India Ltd’s consolidated net profit increased 61 per cent at Rs 83 crore in the first quarter ended June 30, 2019, compared to Rs 52 crore in the corresponding quarter of the previous year. The total revenue of the Hyderabad-based company grew by 31 per cent at Rs 595 crore (Rs 453 crore). (ET).
Hero MotoCorp Ltd's standalone revenue in the quarter declined by 8.8% yoy at Rs8,030.3cr on account of 12.5% yoy decline in two wheelers sales volume. Negative operating leverage led to EBITDA decline of 15.9% yoy to Rs1,158cr with EBITDA margin contraction of 121bps yoy to 14.4%. Due to extraordinary item of Rs737.5cr (reversal of provision), reported PAT stood at 1,257.3cr. However, adjusting for the extraordinary item, Adj. PAT stood at Rs741cr (adjusting for tax), lower 18.5% yoy. (ET).
Axis Bank’s Q1FY20 NII was up by 13% yoy to Rs5,844cr against Rs5,167cr. Net profit for the quarter came in at Rs1,370cr and against Rs701cr yoy. Its GNPA for Q1FY20 stood at 5.25% against 5.26% qoq. NNPA for the quarter came in at 2.04% against 2.06% qoq. Fee income for Q1FY20 grew at 26% yoy, led by Retail Fees, which grew 28% yoy. NIM for the quarter stood at 3.40%. Provision Coverage Ratio of the bank improved sequentially to 78% from 77%. Downgraded Rs2,242cr into BB during the quarter, largely from groups that have shown new signs of stress in recent month. (ET).
Tech Mahindra revenues declined by 2.7% qoq to Rs8,653cr. Revenue in dollar terms declined by 1.6% qoq to USD1,247mn. EBIT came in at Rs993cr, down 27.4% qoq. EBIT margin contracted by 392bps qoq to 11.5%. PAT declined by 15.3% qoq to Rs959cr. (BL).
Kansai Nerolac Paints on Monday reported a net profit of Rs 144.69 crore for the first quarter ended June 30. It had posted a net profit of Rs 138.58 crore in the June quarter a year ago. Its total income was Rs 1,549.18 crore during the quarter. It was Rs 1,423.73 crore of the corresponding quarter last year. (BL).
State-owned Cochin Shipyard on Monday reported a 12.06 per cent rise in its consolidated net profit to Rs 118.97 crore for the first quarter ended June 30. The company had clocked a net profit of Rs 106.16 crore in the corresponding quarter of the previous financial year. Its total income on a consolidated basis for the quarter rose 12.05 per cent to Rs 802.74 crore, compared with Rs 716.40 crore in the corresponding period of the previous financial year. (BL).
Shriram City Union Finance reported a 10 per cent rise in June quuarter profit at Rs 260 crore as against Rs 236.43 crore in the corresponding quarter of the previous year. Consolidated income during the said quarter rose to Rs 1,572.88 crore from Rs 1,475.45 crore in the same period last year. Assets under Management (AUM) grew 4.50 per cent year-on-year to Rs.30352 crore. The company disbursed loans worth Rs. 6275 crore in the quarter and the credit costs for the quarter have reduced by 15 per cent compared with last year. (BL).
Muthoot Capital Services (MCSL) posted a net profit of Rs 13.6 crore, down 22 per cent YoY, for the quarter ended June 30, 2019 as against a net profit of Rs 17.5 crore in the same quarter last year. The current quarter profit has been lower on account of writing down deferred tax assets which impacted the company to the extent of Rs 5.40 crore, an official statement said. The company also moved to new accounting standards IND AS. The total income of the company touched Rs 144 crore for the quarter compared with Rs 114.1 crore a year ago. (BL).
State-owned Bank of India on Tuesday reported more than two-fold jump in its net profit to Rs 242.62 crore in the first quarter ended June 30. The bank had posted a net profit of Rs 95.11 crore during April-June period of the previous fiscal. Total income of the bank rose to Rs 11,526.95 crore during the quarter, as against Rs 10,631.02 crore in the same period preceding fiscal, the bank said in a regulatory filing. (BL).
Realty major DLF on Monday reported over two-fold jump in its consolidated net profit at Rs 414.72 crore for the quarter ending June despite a fall in revenue. Its net profit stood at Rs 172.77 crore in the year-ago period. Total income, however, declined to Rs 1,540.95 crore during the April-June quarter of this fiscal from Rs 1,657.67 crore in the corresponding period of the previous year, the company said in a regulatory filing. The company reported an exceptional income of Rs 296.51 crore, which helped in a significant rise in its net profit. The company's net sales bookings stood at Rs 705 crore in the June quarter. The company's net sales bookings stood at Rs 705 crore in the June quarter. (BL).
Tata Sponge Iron on Monday reported a consolidated net loss of Rs 85.99 crore for the quarter ended on June 30, 2019, due to high finance costs and other charges. The company had posted a net profit of Rs 45.56 crore during the same period a year ago, Tata Sponge Iron Ltd said in a BSE filing. Total income of the company during the quarter under review was at Rs 745.78 crore against Rs 272.84 crore in the corresponding period of the 2018-19 financial year. (BL).
Economy and Sector News
The Tamil Nadu-based Central Electrochemical Research Institute (CECRI), a research institute under the Council for Scientific and Industrial Research, has decided to set up a factory to produce batteries for electric vehicles. It plans to invest ₹100 crore to set up the unit at its campus in Taramani, Chennai. This is a marked departure for the research body that has developed technologies, on its own or as a sponsored initiative, and licensed out the know-how. (BL).
India received the highest-ever FDI inflow of USD 64.37 billion during the fiscal ended March 2019, said a government report. According to the Annual Report 2018-19 of the Department for Promotion of Industry and Internal Trade (DPIIT), foreign direct investments (FDI) worth USD 286 billion were received in the country in past five years. (ET).
Hyundai Motor India Ltd (HMIL) said it has clocked new milestone for recently launched Venue connected SUV with fastest ever 50,000 booking within sixty days of its launch on Tuesday. The company has already delivered 18,000 units of the vehicle so far, it said. In more news, For the third time in a month, travel company Cox and Kings has defaulted on payments. On Tuesday, it informed the stock exchanges it has defaulted on Rs.10 crore on commercial papers. In the past month, it has defaulted twice — on Rs.174 crore and Rs.45 crore — on commercial papers.. (BL).
In 2018, the global electric car fleet exceeded 5 million units, up by 2 million units since 2017. E-bikes and e-scooters stood at 260 million in 2018. China is the world's largest e-car market, claiming nearly a half of the global fleet. It had 250 million two-wheelers in 2018; that's a 96% of the global total. In more news, out of nearly 72 lakh people trained under the Centre’s ambitious Pradhan Mantri Kaushal Vikas Yojana (PMKVY), 15.23 lakh (21 per cent) got placements. The Ministry of Skill Development and Entrepreneurship is implementing the flagship scheme PMKVY, launched in 2015, under the Skill India Mission. (ET).
* ET - Economic Times, BS - Business Standard, BL - Business Line, TOI - Times of India, Mint, IE - Indian Express, BT - Business Today, IE - Indian Express
Global Markets

DJIA and NASDAQ Composite

US markets closed lower on Tuesday as a fresh round of trade talks between Chinese and US officials kicked off in Shanghai. The Dow Jones Index closed at 27,198, down 23.33 points by 0.09%. The Standard & Poors 500 index closed at 3,013, down 7.79 points by 0.26%. The Nasdaq Composite Index closed at 8,274, down 19.71 points by 0.24%.

FTSE 100

UK markets reversed course shortly after noon on Tuesday, forfeiting some of the prior session's big gains after the US President accused China of backtracking on its pledges to purchase more agricultural commodities from his country, even as trade officials from both countries were due to meet again in Shanghai for two days of negotiations. The FTSE 100 index closed at 7,647, down 39.84 points by 0.52%.

Global Indices
30/07/2019 Clsg Chg%
Dow Jones 27,198 -0.09
NASDAQ 8,273 -0.24
FTSE 100 7,647 -0.52
Bovespa 102,932 -0.53
31/07/2019 Latest
(5:29AM IST)
Nikkei 21,709 +0.43
Hang Seng 28,147 +0.14


Asia stocks started trading on a positive note early on Wednesday as the investors will keep a close watch on the global markets. Nikkei is currently trading at 21,709, up 92.51 points by 0.43%.

Precious Metals

Gold futures settled higher Tuesday, marking a third straight session of gains, as investors digested economic data suggesting the U.S. economy remains healthy with low inflation, while waiting for a Federal Reserve decision on interest rates due Wednesday.

Base Metals

Three-month base metals prices traded on the London Metal Exchange universally closed down at the afternoon kerb on July 30, with a strengthened dollar complex and inflows across all metals, except zinc, exerting downward price pressure.

Crude Oil

The American Petroleum Institute said Tuesday that U.S. oil inventories fell by 6.024 million barrels last week, according to sources and news reports.


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