The Benchmark Indices closed in Green with NIFTY reached all-time high at 16,529 and SENSEX at 55,437.
Among the sectoral indices, Nifty IT (+1.3%) and Nifty FMCG (+0.8%) led the charge, while the Media and Realty indices were down 0.9% each.
1) ITC’s Ashesh Ambasta, Executive Vice-President and Head of Social Investments, mentioned that the company is strengthening partnerships with relevant stakeholders to rapidly scale up its community development programs.
ITC’s chairman Sanjiv Puri mentioned that the company will launch an app called ITC MAARS to create a robust ‘phygital’ eco-system and deliver seamless customized solutions to farmers.
He also stated that the company is not ruling out the possibility of restructuring different businesses, including demerger of hotels and listing of ITC Infotech, a wholly owned subsidiary of ITC Ltd.
2) L&T has completed HPCL’s Mumbai Refinery expansion project ahead of time despite challenges posed by the pandemic.
Larsen & Toubro announced the divestment of its 100% stake in the 99 MW hydroelectric power plant in Rudraprayag to Renew Power Services Private Limited for Rs 985 crore.
3) Dr. Reddy’s Lab has partnered with B Medical systems, a medical equipment manufacturer based in Luxembourg, to provide a reliable vaccine storage cold chain solution for the rollout of the Russian vaccine Sputnik V across India.
4) UPL is expanding its footprint in the Indian agri-services market by the introduction of nurture.farm – a digital platform for growers, farming communities, and food systems.
5) HCL Tech CEO & managing director C Vijayakumar will get $31.5 million in stock options over the next five years on top of the annual compensation of $4.38 million making him one of the highest-paid IT CEOs.
6) Reliance Industries, Reliance-BP Mobility get fuel retailing
license:
The government has granted auto fuel retailing license to seven
new entities including Reliance Industries Ltd and a joint venture
of Reliance and BP. The licenses were given under a new
liberalized rule that allows any entity with a minimum net worth
of Rs 250 crore to apply for authorization to retail petrol and
diesel.
Reliance Industries Ltd's (RIL) wholly-owned subsidiary Reliance
New Energy Solar Ltd (RNESL), along with strategic investors
Paulson & Co. Inc. and Bill Gates, and a few other investors, has
announced an investment of $144 million in Ambri Inc, an energy
storage company based in Massachusetts, US.
Reliance Industries Ltd. is looking to buy a stake in T-Mobile Netherlands BV, the Netherlands-based subsidiary of Deutsche Telekom AG.
7) Tata Group is looking to make a foray into semiconductor
manufacturing. Pegging the market opportunity of high-tech
manufacturing of electronics at USD 1 trillion. Earlier, the
group announced entry into 5G equipment manufacturing and a
string of acquisitions to create the Tata Digital business.
8) Hero MotoCorp: Pawan Munjal, Chairman and Managing Director, Hero MotoCorp, showcased an electric scooter that is expected to launch in 2022, hinting that the company is soon planning to enter the electric two-wheelers market.
9) ICICI Bank announced that the bank has allotted 6.16 lakh equity shares of face value of Rs 2 each on August 9, 2021, under the Employee Stock Option Scheme (ESOS).
ICICI Bank has signed a two-year deal for 800 seats at a co-working center in Mumbai.
10) BPCL: Tuhin Kanta Pandey, Secretary of The Department of Investment and Public Asset Management, mentioned that the government is confident of privatizing Bharat Petroleum in the fiscal year 2021-22.
11) PNB Housing Finance announced in a regulatory filing that the company will seek shareholder's approval during their 33rd AGM to raise Rs 35,000 crore by way of debt issue.
12) Yes Bank is planning to launch its own asset reconstruction company and has invited an expression of interest from investors who are willing to partner with it in setting up the entity.
13) Zomato delivered its billionth order last week, co-founder and chief executive officer Deepinder Goyal mentioned.
14) Wipro has joined hands with IP Infusion to jointly develop offerings that enable faster innovation in IP and optical networks.
15) Biocon Biologics has received approval for Semglee - an insulin glargine injection - as the first interchangeable biosimilar product. An interchangeable designation means that Semglee can be substituted for Lantus automatically by pharmacists without physicians' permission.
16) Adani Ports CEO Karan Adani mentioned that the company is expecting to easily raise funds to acquire Container Corp. of India Ltd., or Concor.
17) Spice Jet: A media report cited that India is likely to allow Boeing’s 737 Max jets to resume flights in the country within days. In India, SpiceJet and Jet Airways operated Boeing Max aircraft before the ban and currently SpiceJet is the only player in the Indian airline industry which has the aircrafts on order.
18) Hinduja Group's business process management entity Hinduja
Global Solutions Ltd (HGS) will divest its healthcare services
business to funds affiliated with Baring Private Equity Asia (BPEA),
based on enterprise value of USD 1.2 billion.
19) Airtel has concluded its trading deal to sell 800 Mhz airwaves in three circles to Reliance Jio for Rs 1,004.8 crore.
Spectrum refers to a range of radio frequencies that are used for communication purposes. Additional frequencies allow mobile operators to connect more people and offer faster speeds.
Airtel had, back in April, entered a trading deal to sell its 800 Mhz spectrum to Jio in the Andhra Pradesh, Delhi, and Mumbai circles. The company mentioned that the sale would allow it to unlock value from the spectrum since it was unutilized by the company.
Now, after nearly 4 months, the company has concluded the sale marking the first-ever deal between the two biggest telecom rivals in the country.
Apart from the payment made to Airtel, Jio will also take over the future liabilities of Rs 469.3 crores relating to the spectrum.
Airtel ended 2.23% higher at Rs 637.05. Reliance Industries (Jio) ended 1.67% higher at Rs 2145.65
20) PM Modi launched the Vehicle Scrappage Policy at the Investor Summit being held in Gujarat.
As per the vehicle scrapping policy, unfit and polluting vehicles will be called off the market in an environmentally safe manner.
During the launch, Nitin Gadkari, who is the minister for road transport and highways, mentioned that the policy is based on the fitness of vehicles and not age.
He further added that there are around 1 crore 'unfit' vehicles in the market.
21) Cadila Healthcare: Zydus Cadila has received final approval from the FDA to market Mesalamine Extended-Release Capsules in the strength of 0.375 g.
22) Coal India is planning to infuse Rs 14,000 crore till financial year 2025 in first-mile connectivity infrastructure in two phases.
23) IPO Corner:
a) Rolex Rings lists at 39% premium: The shares of Rolex Rings listed at Rs 1,249 per share on the BSE, while on NSE, it listed at Rs 1,250 per share, over its issue price of Rs 900. The share price ended at 29.67% higher at Rs 1,167 per share.
The IPO was open for subscription between July 28 and 30, 2021.
Rolex Rings was subscribed 130.43 times at the end of day 3 of bidding.
b) Nuvoco Vistas IPO was subscribed 1.71 times at the end of Day 3 of bidding. The IPO received bids for 10.70 crore shares against an offer of 6.25 crore shares.
c) Car Trade IPO was subscribed 20.29 times at the end of Day 3 of bidding.
The IPO received bids for 26.31 crore shares against an offer of 1.29 crore shares.
d) Chemplast Sanmar IPO was subscribed 2.17 times at the end of Day 3 of bidding.
The IPO received bids for 8.66 crore shares against an offer of 3.99 crore shares.
e) Aptus Value Housing Finance IPO was subscribed 17.20 times at the end of Day 3 of bidding.
The IPO received bids for 94.82 crore shares against an offer of 5.51 crore shares.
24) Central Bank of India has entered into a strategic co-lending partnership with Dhanvarsha Finvest Ltd (DFL) to offer loans against gold ornaments under priority sector to Micro, Small and Medium Enterprise (MSME) borrowers.
25) Mutual Funds Activity:
Net inflows into equity mutual funds were at Rs 22,583 crores, up from Rs 5,988 crores in June 2021. Debt funds received net inflows of Rs 73,694 crores in July 2021 compared to Rs 3,566 crores.
The number of systematic investment plan (SIP) accounts stood at 4.17 crore as compared to 4.02 crore in the previous month.
SIP contributions were at Rs 9,609 crores in July, the highest contribution so far, as compared to Rs 9,156 crores in June.
Four new schemes were launched in July: 2 equity schemes and 2 index funds.
26) Life Insurance: In July 2021, life insurers, 24 in total, earned an NBP of ₹ 20434.7 crore, down 11.1% YoY from last year. Private insurers managed to report a 7.5% YoY increase in NBP at ₹ 8403.79 crore.
Overall NBP growth was down as the largest player, LIC, saw its NBP contract 20.7% YoY to ₹ 12030.9 crore. Among large private players HDFC Life and SBI Life saw muted growth.
27) Brent Crude prices was higher at US$ 71.3 /barrel as compared to previous week's closing price of US$ 70.7/barrel.
28) Gold prices ended flat at $ 1762/ounce as compared to previous week's closing price of $ 1763/ounce.
29) Bond yields ended higher at 6.24% as compared to previous week's closing price of 6.22%.
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