WORLD MARKET-
- 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.
WORLD EVENT-
- U.S. weekly jobless claims report is today.
- Singapore holds its general election on Friday.
STOCK WISE NEWS-
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.
RESULT EXPECTATION FOR TCS TODAY:-
- 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% |
