Weekly Fundamental Insights

<p>Highlights of 26th July '21 Fundamental weekly podcast : - Domestically, the Nifty 50 Index has more than doubled from its March 2020 low. It's one of the best performers in the world over this period and is testing new peaks almost every month. - US stock markets capped the week in record terrain with the Dow Jones index closing above 35,000 for the first time. - FPIs have been net sellers in Indian equities in July 2021 till date. FPI flows to India may remain vulnerable due to the US Fed monetary policy and rising crude oil prices. - Weekly pick - Tata Steel Ltd - The company is aiming to double its India steel capacity by 2030. - New Coverages: APL Apollo Tubes Ltd and Lodha (Macrotech Developers) Ltd. - Techno Funda update: Buy idea on Axis Bank Ltd. - Result update: HDFC Bank reported 16% YoY earnings growth on the back of 18% YoY operating profit growth. - L&T Ltd is emerging stronger. We expect the company to deliver high-teens PAT CAGR for the core E&C business over FY21-24 and retain our BUY rating.</p>