• ICICI Bank: Net Interest Income up 19% while net profit rises 36.3%. Sold 3.96% stake in ICICI Lombard and 1.5% in ICICI Lombard - resulting in net gain of Rs 3,036.3 crore in the standalone results. Advances up 6.5% while deposits rise 21% from last year. Asset quality stable. Loans under moratorium down to 17.5% of total loans by June 30 from 30% in March. Management says will dilute 4% stake in ICICI Securities this year.
• Zee Entertainment: Reports net loss of Rs 766.7 crore. Ebitda loss of Rs 562.5 crore. One-time provision of Rs 343 crore on doubtful recovery of ad, subscription and other assets due to Covid-19. Exceptional loss on account of impairment of goodwill pertaining to digital publishing business at Rs 113.7 crore. Advertising revenue down 15% while subscription revenue up 31%.
• ITC: Net sales down 17.4% while net profit fell 26% from last year. Ebitda margin at 27.8% from 39.7%. FMCG and Agri business revenue see growth while Cigarette, hotels and paperboards revenue see de-growth. Macquarie says Cigarette volumes declined 40% this quarter.
• JSW Steel: Reports net loss of Rs 561 crore. Ebitda down 64% while margins declined to 11.4% from 18.7% last year. All overseas subsidiaries report a loss. Management says have seen modest increase in domestic steel prices in July and expect some more hike in August.
• Ambuja Cements: Revenue down 27% while net profit rises 10% led by tripling of other income compared to last year. Improvement in margins due to lower power, fuel and freight costs and Master Supply Agreement with ACC.
• Aarti Drugs: Revenue up 34% while net profit more than triples to Rs 85.45 crore. Ebitda up 2.5 times while margins rise to 24.6% from 13.5%
• Adani Power: Shareholders approve proposal to delist the company from the exchanges. For the public institutional shareholders 83.71% of equity shares were voted on, out of which 95.88% voted in favour for delisting the company, while for public non-institutional shareholders 56.27% of shares voted with 98.50% votes in favour of the delisting resolution.
• Escorts: Rakesh Jhunjhunwala reduced stake from to 6.82% from 6.97%. Jhunjhunwala sold 2 lakh shares on July 24.
• Karur Vyasa Bank: Rakesh Jhunjhunwala increases stake to 4.5% from 4.2% as per its shareholding pattern for June quarter.
• Spencer’s Retail: Sets rights issue price at Rs 75 per share. Rights entitlement ratio at 2 shares for every 15 shares held. Issue opens from August 4 till August 18, with record date set at July 29. Issue price at discount of 13% to Friday’s closing. On February 11, Board approved raising Rs 80 crore via rights issue.
• Mindspace Business Parks REIT: Raised Rs 1,518.75 crore from 54 anchor investors at Rs 275 per share. Issue opens on July 27. Key anchor investors in this allotment were Government of Singapore, Nomura, Fidelity Goup and key domestic investors included HDFC Life Insurance and SBI Life Insurance.
• Nifty Earnings Today: Bharti Infratel, Kotak Mahindra Bank, Tech Mahindra
• Non-Nifty Earnings Today: V-Guard, Marico, Escorts, Bharat Electronics, Havells, India Cements, Orient Electric, Tejas Networks, United Spirits

For all that you need to know going into today’s trade, click here.

Good Morning!

Indian equities posted their sixth straight weekly gain on Friday. Since June 15, the S&P BSE Sensex and the NSE Nifty 50 Index have gained 4,348 and 1,222 points, respectively.

The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.3% to 11,212 as of 7:55 a.m. on Monday. Also, the weekly expiry of the July futures and options series begins.

Corporate earnings will take center stage. The street is expected to factor in the results announced by ICICI Bank, Zee Entertainment, JSW Steel, ITC after market hours on Friday and over the weekend. Some of the broader market stocks such as Ambuja Cements, Aarti Drugs, MCX, GHCL, Coromandel International also announced their first-quarter results.

Three Nifty 50 stocks — Kotak Mahindra Bank, Tech Mahindra and Bharti Infratel — are set to report their quarterly results on Monday. The non-Nifty list includes Havells, United Spirits, Marico, Escorts and V-Guard, among others.

Asian markets are mixed at the start of the final trading week of July. Markets in Japan are declining, while those in Hong Kong and South Korea are edging higher.

Futures on the Dow Jones are trading higher by 120 points. The index ended 0.7% higher on Monday.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.