Market Update for 09/07/2020: – Street-fluence

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  • Oil traded at a four-month high despite U.S. crude inventories holding near a record and gasoline demand still at the weakest seasonal level in more than 20 years.


  • U.S. weekly jobless claims report is today.
  • Singapore holds its general election on Friday.


Net investments into equity and equity-linked schemes tumbled 95% over the preceding month to Rs 240.55 crore in June, according to data released by AMFI. This was the third straight monthly drop.


ICICI Bank: Board approves raising Rs 15,000 crore through equity. The fund raise may happen in one or more tranches via private placement, preferential issue, FPO or a combination thereof.

PI Industries: Board approves closure of QIP. Issue price has been fixed at Rs 1,470 per share, which is a 4.2% discount to the floor price and a discount of 11% to Wednesday’s closing price.

Torrent Power: Promoter releases entire pledge from IDBI trusteeship.

Tech: Tech body ISG says that deal wins have slowed down in Q2.

Realestate : Govt approves affordable rental housing scheme for urban migrants / poor

Tata Consumer: Sends termination notice to Tata Tea Distributors, Tata Salt Distributors. Company is looking to digitalize trade channels and simplify distribution structure.

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  • Revenue in U.S. Dollar terms seen 5.6% lower at $5,140 million
  • Revenue in rupee terms seen 2.6% lower at Rs 38,910 crore – Ebit seen 5.9% lower at Rs 9,432 crore
  • Ebit margin seen at 24.2% from 25.1% Net profit seen 4.4% lower at Rs 7,694 crore
    (All estimates are Bloomberg estimates and compared on a sequential basis) Key Factors At Play For TCS:
  • Delay in project execution, new deal signings may lead to weakness
  • Higher exposure to Emerging Markets may weigh on earnings
  • BFSI vertical may decline as indicated owing to uncertainties
  • Retail vertical to remain volatile Lower revenue, utilisation to impact margins
  • Gains from a weak rupee and deferred pay hikes to counter margin contraction

What To Watch For TCS:

  • Change in operating conditions under Covid-19 environment
  • Visibility in revenue Client budgets and spending trends
  • Pace of project execution under new setting
  • Outlook on employee costs and onboarding

Ex-Date Rights Issue: PVR, Shriram Transport Finance

FII sold 995
GOLD- 1820
DXY- 96.3
CRUDE- 43.24

An overnight Metal rally-
Copper (LME) 6,232.00 +0.71%
Aluminum (LME) 1,665.00 +1.90%
Zinc (LME) 2,131.00 +2.95%

Metal(LME prices) Jun-22 Jul-09 % % (Till July-03)
Copper 5849 6232 6.5% 2.90%
Aluminium 1592 1665 4.6% 1.40%
Zinc 2082 2131 2.4% -2.70%

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Akshada Deo

Akshada Deo

Akshada posts the daily market updates in a summarized format. Stock Market, Literature, Music, and Design are her passions.
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