News

HDFC Bank will evaluate a bonus share issue and special dividend alongside its quarterly results on July 19.

Click for More#RupeeCheck | Rupee opens at 85.98/$ vs Tuesday’s close of 85.81/$ pic.twitter.com/PgNjaNT45G

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Jay Kale, Executive Vice President – Research at Elara Capital, shares insights on the auto sector as India’s EV space gains momentum with Tesla’s Model Y debut.

Catch Jay Kale of Elara Capital on CNBC-TV18

Ashok Leyland shares will trade ex-bonus starting Wednesday, July 16, following the company’s bonus share issuance.

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Ed Yardeni, President, Yardeni Research On CNBC-TV18

Motilal Oswal Financial Services sees over 20% upside in Vishal Mega Mart shares, highlighting the company as a key beneficiary of growing aspirations in India’s tier-2 and smaller towns, according to its initiation report on July 16.

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CLSA has reiterated its ‘high conviction outperform’ rating on Dixon Technologies, setting a target price of ₹19,000 per share, citing strong growth momentum.

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JSPL CFO Mayank Gupta Resigns As CFO From Immediate Effect

Oil ticked higher after a two-day drop, as traders assessed signs of near-term market strength ahead of US inventory figures.

Asian stocks fell at the open on Wednesday after mixed US inflation data spurred traders to trim Federal Reserve interest rate-cut bets.

As many as six important names like Tech Mahindra, Angel One, L&T Technology Services, ITC Hotels, Orient Hotels, Ixigo, are set to report their results today.

Biocon shares will be closely watched on Wednesday, July 16, because the United States Food & Drug Administration (US FDA) has given its approval for the company’s insulin product, Kristy (Insulin Aspart).

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HSBC on HDFC Life

– Buy, Target Price ₹900 on HDFC Life Insurance Company

– 1QFY26: Overall in-line operating performance with healthy Annual Premium Equivalent (APE) growth, stable margins, & operating Return on Embedded Value (RoEV) of 16.3%

– New customer acquisition, deepening distribution, & balanced product mix should aid mid-teens APE growth over FY26-28e

– Est. a FY25-28e total APE CAGR of c16% with gradual improvement in margins over FY26-28e

MS on HDFC Life

– Overweight, Target Price ₹840

– A steady quarter, with Value of New Business (VNB) 1% above MSe

– The quality of results was good

– Maintain 17% VNB growth forecast for F2026 (more back-ended)

– VNB margin was 25.1% (vs. MSe and F1Q25 of 25%).

– Management sees the VNB margin to be range-bound in F2026.

– Stock trades at 18x F2027e P/VNB and 2.2x P/EV

Morgan Stanley on ICICI Lombard

CLSA on ICICI Lombard

Morgan Stanley on ICICI Pru Life

CLSA on ICICI Pru Life

CLSA on Dixon

High Conviction Out Performance, Target Price ₹19,000

Dixon Technologies (India) has announced significant steps to enable value addition in smartphones by venturing into camera modules & enclosures

The company agreed to acquire a 51% stake in Q Tech India, which has a camera module capacity of c.4m per month.

Additionally, it has agreed to enter into a 74:26 JV with Chongqing Yuhai for enclosures

Estimated that these, along with HKC JV (for display modules), could raise Dixon’s value addition in smartphones to c.45-55% from 15-17% currently

In addition to raising margins by 150-200bps, these would also provide an additional revenue stream through external sales

Nomura on Dixon

Buy, Target Price ₹21,409

Forays into the camera module with Q Tech India

Expands value-add further with camera module & precision components; can potentially aid EPS by 5%

Company enters precision components segment with 74% JV with Chongqing

Dixon’s acquisition of a 51% stake in an existing Indian entity will make the integration faster, avoiding approval-related delays.

Heavy DII Buying Outpaces FIIs in Cash Market:

DII Net Buy 1,555.03 Crore in Cash (13,710.83 – 12,155.80 Crore)

FII Net Buy 120.47 Crore in Cash (11,553.04 – 11,432.57 Crore)

What to watch today:

Global cues: US – PPI, Industrial Production and Fed Beige Book

US bank earnings: Goldman, Bank of America and Morgan Stanley

Earnings reaction: HDFC Life, ICICI Lombard, HDB Fin, Network 18 and Just Dial

Key Results: Tech Mahindra, LTTS, Angel One, ITC Hotels, Oriental Hotels, Le Travenues Technology (Ixigo)

Glenmark – investor day today

Ashok Leyland – ex-bonus

TCS and Piramal Pharma – Ex dividend

India-US Trade Deal:

The Commerce Ministry team has reached Washington for another round of talks on the proposed Bilateral Trade Agreement (BTA).

India’s Chief Negotiator Rajesh Agrawal will join the team on Wednesday.

 #CNBCTV18Market | #GIFTNifty lower, trading at a discount of more than 80 pts from Nifty Fut Tuesday’s close, indicates a gap-down start for the Indian market pic.twitter.com/TG1xCFdtVX

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Two mutual funds have raised their holdings in Asian Paints, the country’s top paint maker, as the stock rebounds from its 52-week low.

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Shares of MP Materials Corp., a rare earth materials company based out of Las Vegas, Nevada, have doubled in four trading sessions.

Shares first surged 50% last Friday after the US Department of Defence, or the Pentagon, announced an equity investment worth $400 million in the company. This, along with funds from JPMorgan Chase and Goldman Sachs, taking the total to $1 billion, would fund a new major plant that will produce rare-earth magnets.

Shares of multiplex chain operator PVR INOX Ltd. will be in focus on Wednesday, July 16, after the Government of Karnataka proposed in a draft notification that movie ticket prices should be capped at ₹200 across the state.

Trade Set Up for Wednesday

President Donald Trump said that he was likely to impose tariffs on pharmaceuticals as soon as the end of the month and that levies on semiconductors could come soon as well, suggesting that those import taxes could hit alongside broad “reciprocal” rates set for implementation on August 1.

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