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JPMorgan Chase's profit increased in the second quarter, driven by higher investment banking fees and an $8 billion accounting gain from a share exchange deal with Visa. Investment banks are experiencing a resurgence in capital-raising activity in both debt and equity markets. European shares hit 1-month high on upbeat earnings, Fed rate-cut hopes European shares advanced on Friday, poised for a second consecutive week of gains, driven by positive earnings updates. Meanwhile, U.S. inflation data increased expectations for a potential interest rate cut by the Federal Reserve in September.

• Margin levers in place to see expansion CLSA ON TCS | • Maintain Hold; Hike target price to Rs 4007 from Rs 3990 • Broad-based revenue growth across industry verticals, with BSNL holding the key • Ebit margins slightly ahead of our and consensus estimates • Gen Al pipeline growing but still insignificant to make a dent in financials MORGAN STANLEY ON OIL INDIA | • Maintain Overweight; Hike target price to Rs 663 from Rs 497 - highest target price • We turn more bullish • Gas production doubling, tripling of the most profitable fuel refinery in Asia • 38 years of hydrocarbon reserve life monetisation and 14% CAGR in operating cash flow • All this in four years and at single digit multiples • Another standout factor is the 20% increase in gas ASP over the years as new wells drilled will extend growth • Good dividend distribution and earnings set to double by 2029 - both remain underappreciated CHINA TRADE DATA | > June exports rise 8.6% YoY in Dollar terms vs est of 8% rise > June imports fall 2.3% YoY in Dollar terms vs est of 2.5% rise > June trade surplus of $99.05 bn vs est of $85.3 bn Nuvama On TCS | Buy Call, Target 4,800/Sh From Earlier Target Of 4,560/Sh Jefferies On TCS | Upgrade To Buy, Target 4,615/Sh Nomura On TCS | Neutral Call, Target Raised To 3,860/Sh From 3,800/Sh Citi On TCS | Sell Call, Target 3,645/Sh #Focus Some Major Orders from 11th July (Yesterday): 1. Goldiam has received additional new Export Orders worth of ₹60 crores for manufacturing of lab-grown diamond studded gold jewellery 2. Ahluwalia Contracts (India) Ltd has secured an order from Airports Authority of India for Development of Lal Bahadur International Airport, Varanasi for broad consideration of ₹893.48 Crores 3. RVNL received Letter of Acceptance from Central Railway for Up-gradation of existing Electric Traction System to meet 3000 MT loading target, for broad consideration of ₹138.46 Crores 4. HPL Electric & Power Ltd received Work Orders/Letter of Award of ₹2100.71 Crores from regular leading Customers for the supply of smart meters in the normal course of business KARAN ADANI SAYS Will Take Port Capacity To 5 m TEU To Handle 60 mt- CNBC TV18 Total Capex For Phase 1 At 8,800 Cr Where Our Share Is ₹3,600 Cr Rail And Road Connectivity Should Aid South India Volumes CONCOR ; Adani Ports says , CONCOR is a very strategic asset, it will add lot of capacity to our portfolio. We will be interested at the right value- CNBC TV18 ABHISHEK INTEGRATION; Co. has been ranked as L1 for the work contracts for Two shift operation, technical assistance in Operation & maintenance contract of various shops of CDM & TMU and maintenance of machine & Auxiliary systems installed at CDM & TMU, BARC, Trombay, Mumbai-400085 having total contract value of Rs. 1.78 Cr #ITI to transfer 24.5 acres of land and 20,558.07 Sq meters of buildings to C-Dot for ₹200 Crores #CONCOR: Adani Ports tells CNBC-TV18, CONCOR is a very strategic asset, it will add lot of capacity to our portfolio. We will be interested at the right value. INDUS TOWER: 96 LKH SHARES EXCHANGED VIA BLOCK DEAL TCS : 1.21 CR SHARES EXCHANGED VIA BLOCK DEAL Big Block COAL INDIA ; 72.5 LKH SHARES EXCHANGED VIA BLOCK DEAL ALEMBIC PHARMACEUTICALS: CO ANNOUNCES USFDA TENTATIVE APPROVAL FOR SELEXIPAG FOR INJECTION, 1,800 MCG/VIAL SUNTECK REALTY: CO SAYS Q1 COLLECTIONS UP 18.8% (YOY) || CO SAYS Q1 PRE-SALES UP 29.7% ON (YOY) BASIS INDIA BANK LOAN GROWTH ACTUAL: 17.4% VS 19.2% PREVIOUS INDIA DEPOSIT GROWTH ACTUAL: 11.1% VS 12.6% PREVIOUS INDIA FX RESERVES, USD ACTUAL: 657.16B VS 652.00B PREVIOUS India's forex reserves rise to $657.16 billion as of July 5, up $5.16 billion week-on-week: RBI press release ForexData | Total reserves in week-ended July 5 up $5.15 bn at $657.16 bn Foreign currency assets in week-ended July 5 up $4.23 bn at $577.11 bn JUST IN | RBI: Forex reserves at $657.16 bn as of July 5, up $5.16 bn on week FitchRatings affirms #Tata Steel at 'BBB-', revises outlook to negative from stable: Fitch Ratings press release ORIENTAL HOTELS:

Q1 SL NET PROFIT 36M RUPEES VS 122M (YOY) Q1 REVENUE 814M RUPEES VS 919M (YOY) Q1 EBITDA 113M RUPEES VS 220M (YOY) | Q1 EBITDA MARGIN 13.84% VS 23.89% (YOY) JPMORGAN Q2 2024 EARNINGS EPS $6.12 VS EST. $4.29 ADJ. REV. $50.99 B VS $50.20 B LOANS $1.32T, EST. $1.32T TOTAL DEPOSITS $2.40T, EST. $2.43T MANAGED NET INTEREST INCOME $22.86B, EST. $22.82B PROVISION FOR CREDIT LOSSES $3.05B, EST. $2.83B Coal India Says *Concept note has been circulated to e-Auction bidders on July 11 to seek feedback *Suggesting 3-hr auction window replacing the earlier long drawn process *Allowing consumers to change mode of transport from rail to road without addl premium *Single bidder can place max four bids against each basket vs earlier restriction of 1 bid *Lowering EMD in e-auctions by more than a third is to encourage increased participation All arms except northern coalfields to up e-auction qty to 40% of prodn for 2nd & 3rd Qtr of FY25 *Subsidiaries have been given flexibility to fix their reserve prices #Focus GODREJ CONSUMER PRODUCTS: CO ANNOUNCED THAT IT HAS DEVELOPED ‘RENOFLUTHRIN’ - A PATENTED MOSQUITO REPELLENT MOLECULE AND HAS INTEGRATED IT INTO ITS HOUSEHOLD INSECTICIDE PRODUCT - BUSINESS STANDARD ORISSA MINERALS DEVELOPMENT CO: CO SAYS SUPREME COURT OF INDIA ISSUED ORDER IN FAVOUR OF STATE OF ODISHA || ORDER REJECTING REQUEST FOR RENEWAL OF KOLHA-ROIDA LEASE IS UPHELD ISMT: INVESTOR MUKUL MAHAVIR AGRAWAL INCREASE STAKE BY 1.05% IN CO DURING Q1 ZOMATO: CO SAYS UNIT ZOMATO SLOVAKIA S.R.O. (ZOMATO SLOVAKIA), SITUATED IN SLOVAK REPUBLIC HAS BEEN DISSOLVED W.E.F. JULY 12, 2024 ALEMBIC PHARMACEUTICALS: CO ANNOUNCES USFDA TENTATIVE APPROVAL FOR SELEXIPAG FOR INJECTION, 1,800 MCG/VIAL SHOPPERS STOP: CO ISSUES CLARIFICATION REGARDING NEWS ITEM CAPTIONED “SHOPPERS TO GET ANOTHER LUXURY STOP” || CO SAYS AS OF NOW, NO TIE-UP IS DONE WITH ADITYA BIRLA GROUP'S LUXURY STORE 🌠Top 3 Mining Equipment Stocks in in the world 🌠 India's mining sector grew by 7.5% in FY24, with production of iron ore and limestone recording high growth during the year. This momentum is expected to continue even in the financial year 2025, driven by growth across all key sectors, including the automotive, construction, power generation, and steel industries. 1️⃣ BEML 2️⃣ Electric Guitar PLC 3️⃣ TEGA STERLITE TECH ; Co. received Note Verable, from European Commission imposing provisional anti-dumping duty of 11.4% on import of optical fibre cable manufactured by STL, India and by Sterlite Tech Cables Solution Ltd. (STCSL) India, its 100% Subsidiary SUVEN PHARMACEUTICALS: UPDATE ON ACQUISITION Co. has acquired 51% of the share capital on a fully diluted basis (i.e., 67.5% of the present equity share capital) of Sapala Organics Private Limited. ASHIANA HOUSING ; SBI MF BUYS ADDITIONAL 0.76 % STAKE ON 11 JULY VIA OPEN MARKET STAKE INCREASED TO 7.5 % FROM 6.74 % STAKE TANLA : Co. has signed a commercial agreement with one of the Global Tech Major on Wisely ATP to combat scams on their messaging platform by identifying fraudulent phone number has signed a commercial agreement with one of the Global Tech Major on Wisely ATP to combat scams on their messaging platform by identifying fraudulent phone number India’s Direct Tax Collection (As of July 11) FY24 - ₹4.80 lakh crore FY25 - ₹5.74 lakh crore Good increase in tax collection Dabur India cuts added sugar in juices by 21%, aims for further 3% reduction. > Overall, our efforts have led to a significant 20.95% reduction in added sugar from the 2018 baseline, equating to approximately 1,300 metric tons of reduced sugar consumption annually. Wells Fargo Q2 Results: Profit falls on deposit costs Wells Fargo's second-quarter profit declined, missing interest income estimates as the bank spent more to retain customers' deposits amid fierce competition. This led to a more than 5% drop in its shares during premarket trading. JPMorgan Q2 Results: Profit jumps on higher investment banking fees, accounting gain

STOCK INFORMATION: Shaktikanta Das, RBI Governor | • It Has Been My Endeavour To Be As Forthright As Possible & To Not Camouflage Any Issues • When We Talk About Interest Rate Cuts, Silent Depositors Will Be Affected In A Different Direction • June Inflation Nos Will Be Out Tomorrow & Likely To Be Close To 5% As Per Surveyors • Overall Economic Environment Globally & In India Is Uncertain • CPI Headline Inflation Continues To Be Close To 5% • Many Drivers Of Growth Are Playing Out Their Role • Momentum Of Growth Was Very Strong In Q4 & Continues To Be Strong In The First Quarter • Agriculture Is Expected To Do Well In The Current Year • Manufacturing Sector Is Doing Well; PMI Numbers Have Been In Expansionary Mode For Many Months • Services Is Doing Very Well From The Supply Side & Activity Is Strong • Given gap between current inflation and 4% target, question of change of stance is quite premature • When we move towards 4% CPI on a sustained basis is when we will get the confidence to think about a change in stance • We are very optimistic and quite confident that we are moving towards 4% inflation, but it is moving slowly • We are working on Expected Credit Loss (ECL) guideline and it is in the final stages • ECL guidelines will definitely come out in this financial year ( Source: CNBC-TV18) STOCKS IN ACTION 12 JULY Hindustan Zinc: The state-owned company received renewable power from Serentica's 180 MW solar project. Prestige Estates Projects: The real estate firm recorded a 22.6% year-on-year dip in sales at Rs 3,030 crore in the first quarter of this fiscal due to a lag in approvals and project launches amid the election season. The total sales volume during the quarter also fell to 2.86 million sq ft. The average realisation rose 16% year-on-year to Rs 11,934 per sq. ft. for apartments, villas, and commercial spaces, and the average realisation for plots also rose 46% year-on-year to Rs 7,285 per sq. ft. The real estate firm reported a 6% jump in sales collection in the quarter ended June at Rs 2,916 crore. Prestige Estates sold 1,364 units in the first quarter Mahindra & Mahindra: The auto company's total production in the first quarter of this fiscal was 69,045 units, up 8% year-on-year and total sales were up 11% at 66,800 units. The total exports were up 4% to 2,597 units for the quarter ended June. The company also reduced its stake in Switzerland's Gamaya from 15.04% to 4.33% due to a shareholding reorganisation. Aditya Birla Fashion And Retail: The fashion company raised its stake in Goodview Fashion to 51% from 33.5% for Rs 127 crore. Goodview Fashion manufactures and sells ethnic couture under the Tarun Tahiliani brand. Adani Wilmar: The Ahmedabad-based company will acquire a 67% stake in specialty chemical company Omkar Chemical Industries at an enterprise value of Rs 56.25 crore Rashtriya Chemicals & Fertilisers: The chemical and fertiliser company placed a purchase order worth Rs 514 crore. The order is to revamp its ammonia plant in Thal Maharashtra. Allcargo Terminals: The logistics company reported CFS volumes for the month of June at 55.9 000 TEUs, up 20% year-on-year Vodafone Idea: Shareholders approved the issuance of preferential shares. In other news, the telecom giant received notice from ATC Telecom Infra for the conversion of OCDs worth Rs 160 crore into shares. Azad Engineering: The manufacturing company received a five-year contract from Germany's Siemens Energy Global for the supply of rotating components for Siemens' gas and thermal turbine engines. Infosys: The technology giant received a contract from the Delaware Department of Labor to upgrade its legacy systems LT Foods: The FMCG company expanded its footprint to the United Kingdom to tap the £1 billion rice and rice-based food market. Eyes revenue to the tune of £100 million in the next 5 years. Oriental Rail Infrastructure: The company's unit received a Rs 432 crore order for the supply of 1,200 BVCM-C wagons from Indian Railways.

Nazara Technologies: The technology company's unit Nodwin Singapore acquired an additional 43.5% stake in Freaks 4U Gaming for €23.45 million; Freaks 4U became a step-down subsidiary of the company. Affle (India): The mobile marketing platform received a patent in the US titled 'Method and system for enabling an interaction between user and podcast Zee Entertainment Enterprises: The board is to consider and approve the raising of funds on Tuesday Pitti Engineering: The company raises Rs 360 crore via QIP to allot 34.14 lakh shares at Rs 1054.25 per share. Cyient: The technology company will set up a new subsidiary with a dedicated focus on its end- to-end turnkey ASIC semiconductor business. Oil rises on cooling US inflation, strong summer demand Oil prices increased during early Asian trading on Friday due to indications of robust summer demand and decreasing inflationary pressures in the United States, the world's largest oil market. Brent crude futures climbed 37 cents to $85.77 per barrel by 0031 GMT, while U.S. West Texas Intermediate crude futures rose 50 cents to $83.12 per barrel. Gold eases but set for weekly gain as Fed rate-cut bets boost appeal Gold prices eased on Friday but headed for a third straight weekly rise, after cooler-than-expected U.S. inflation data sparked hopes that the Federal Reserve will likely start cutting interest rates in September. Spot gold fell 0.2% at $2,408.70 per ounce, as of 0148 GMT after rising 2% on Thursday. UBS ON ZOMATO | • Maintain Buy; Hike target price to HoRs 260 from Rs 250 • Industry volumes grow c1% Мом in June, adjusted for number of days • Zomato vs Swiggy: push and pull seen Q1FY25 • estimate Zomato's GMV QOQ growth for Q1FY25E at 9% AXIS CAP ON VEDANT FASHION | • Downgrade to Add from Buy; Cut target price to Rs 1150 from Rs 1200 • Fewer wedding dates in Q1 to adversely impact • Q1FY25 performance to remain subdued • Demand to revive H2FY25 onward with more wedding dates • Cut EPS on weaker-than-expected Q1 JEFFERIES ON PHARMA SECTOR | • Key Takeaways from IQVIA US data for May & June-24 • Zydus has aggressively launched generic Mirabegron and has reached 28% market share • Indian generics go slow on gRevlimid in 1QFY24 with weak Rx share for most firms • Sun Pharma shows strong traction in gCiprodex and gAdderall XR • Biocon gains share in Transtuzumab, Pegfilgrastim share remains flat • Expect strong Q1FY25 US sales for Zydus and weak sales for Dr Reddy's based on current UBS ON ABB INDIA | • Downgrade to Neutral from Buy; Hike target price to Rs 9100 from Rs 8830 • Limited room for valuation re-rating • Earnings to remain supportive • 2 factors would make us positive again - higher quarterly order run-rate and robust margins in emerging portfolio • Quarterly order run-rate beyond Rs 3800 cr from mobility or higher base order growth driving better earnings growth • Robust margins in the emerging portfolio in electrification driving ABB's margins higher than we expect • View ABB as the best exposure to emerging infrastructure and niche products across conventional and new segments UBS ON FEDERAL BANK | • Upgrade to Buy from Neutral; Hike target price to Rs 250 from Rs 180 • Favourable risk-reward • Expect RoA accretion-based re- rating aided by near-term catalyst • Re-rating catalysts: clarity on new CEO and visibility on future strategy NOMURA ON BUDGET | • Expect a cut to the FY25 fiscal deficit target 1000 • But market borrowing will likely remain unchanged • Expect budget to signal policy continuity and uncompromising focus on fiscal consolidation, despite the weaker political mandate • Five themes - Consumption lift, Social sector focus, Manufacturing boost, Infrastructure push and Medium-term economic vision JPMORGAN ON TCS | • Maintain Overweight; Hike target Price to Rs 4600 from Rs 4500 • Rising momentum despite sluggish demand cause for minor joy • Q1 clean beat on revenues, margins in-line • Status quo on demand environment but momentum picks up

#BEL VCP PATTERN Stoploss near 300 Target can be 370-400 Trail using 21ema for best results High volume , high momentum

Quant Small Cap Mutual Fund's June Portfolio is out. NAV up 65.88% YoY and MoM they added ₹1724 Cr+ in AUM. • Reliance remains the largest holding, now over 10% allocation. • Added 6 new positions including Kotak Bank, Marico etc. • More than doubled its position in HDFC Bank, now 2nd largest holding. • Significantly increased allocation in Adani Power, IRFC etc. • Completely exited 5 stocks including Adani Green, Metropolis etc. • Significantly decreased position in TV18, Rain Industries etc. • Cash holding again halves. From 6.25% in April to 3.86% in May to just 1.83% in June.

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