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MOSL : MOrning India (4/August/22): 1. India Strategy: The Eagle Eye (India outperformed key global markets in Jul'22); 2. Hindalco; 3. Godrej Consumer; 4. InterGlobe Aviation; 5. Indus Towers; 6. Bosch

MOrning India (4/August/22): 1. India Strategy: The Eagle Eye (India outperformed key global markets in Jul'22); 2. Hindalco; 3. Godrej Consumer; 4. InterGlobe Aviation; 5. Indus Towers; 6. Bosch

Today’s top research theme

India Strategy: The Eagle Eye (India outperformed key global markets in Jul'22)

The key highlights of our Aug'22 edition of 'The Eagle Eye' are as follows:

• India outperformed key global markets in Jul'22 amid various challenges. All major sectors rose MoM in Jul'22 and Midcaps outperformed. A majority of the BSE-200 constituents (92%) closed higher
• Activity: FIIs turned net buyers in equities after nine consecutive months of outflows; Domestic inflows slowed down in Jul'22. Average daily cash volumes remained weak in Jul'22 at INR498b - down 43% from its Oct'21 high
• DII stake in Nifty-500 was at a multi-quarter high; whereas, FII holding in Nifty-500 declined for the sixth consecutive quarter
• Forex reserves declined USD70b from its peak of Oct'21 to USD572b. Reserves were at their lowest levels since Nov'20. India witnessed the highest and fastest rate hikes among Asian EMEs
• Over the course of Jul'22, our in-house research team published several interesting and insightful reports. Some of the notable ones are: a) Life Insurance Corporation: An insurance goliath crafting its own growth path, b) ICICI Lombard: Successfully weathering the storm, c) State Bank of India: Is 450 the new 250?, and d) Strategy: Employee cost of corporate India - decoding a decade.

Piping hot news

Maruti gets over 100,000 bookings for Brezza, Vitara

SUVs had caused Maruti Suzuki, which traditionally sold one of every two vehicles on Indian roads, to lose share in a market that tilted heavily toward these utility cars. A revamped portfolio of SUVs has already logged 100,000 bookings so far just weeks into the unveiling of two models, giving the Japanese carmaker the confidence it needs to win the volume sweepstakes in a market where prices - or loan rates - haven't dented demand just yet. The just-launched Brezza, and yet-to-be-launched Grand Vitara, have boosted Maruti's booking charts. Shashank Srivastava, senior executive director, Maruti Suzuki, told ET that going by vehicle buying trends globally, SUVs should comprise half of the passenger vehicle market in India.