PRE-MARKET INDIAN STOCKS NEWS: Larsen & Toubro (LT IS) plans to manufacture rare-earth magnets in India as it looks to benefit from government efforts to reduce import dependence and loosen China's grip on the critical industrial component

Apollo Hospitals Enterprise (APHS IS) - Co. Q1 (INR) net rose 38.4% Y/Y to 6.10bln. (Economic Times) Axis Bank (AXSB IS) - Co. raised USD 300mln, or around INR 28.5bln, through bonds issued to overseas investors to fund business growth. (Economic Times) GMR Airports (GMRI IS) - Co. Q1 (INR) net 910mln (prev. loss 2.12bln Y/Y), revenue rose 23.7% Y/Y to 39.64bln. (Moneycontrol) Grasim Industries (GRASIM IS) - Co. Q1 (INR) net 2.47bln (prev. loss 1.18bln Y/Y). (Economic Times) Jio Financial Services (JIOFIN IS) - Co. and Bank of America signed a definitive agreement under which BofA will invest up to INR 182.68bln for as much as a 49.9% stake in Jio Credit through a preferential allotment of equity shares and warrants. (Moneycontrol) Larsen & Toubro (LT IS) - Co. plans to manufacture rare-earth magnets in India as it looks to benefit from government efforts to reduce import dependence and loosen China's grip on the critical industrial component. (Economic Times) Petronet LNG (PLNG IS) - Co. Q1 (INR) net rose 35.1% Y/Y to 11.37bln, revenue fell 53.2% Y/Y to 55.58bln. (Moneycontrol) Sun TV Network (SUNTV IS) - Co. Q1 (INR) net rose 16.95% Y/Y to 6.19bln, revenue rose 13% Y/Y to 14.58bln. (Moneycontrol) Tata Motors (TMCV IS) - Co. Q1 (INR) net rose 83.2% Y/Y to 25.60bln, revenue rose 19.3% Y/Y to 206.67bln. (Moneycontrol) UltraTech Cement (UTCEM IS) - Pilani Investment and Industries Corporation is set to sell around 1.7mln Co. shares through a block deal on August 13. (Economic Times) Data Recap Indian CPI (Jul) Y/Y 4.45% vs. Exp. 4.5% (Prev. 4.38%)