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

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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.

NET EQUITY INFLOWS
CATEGORY WISE INFLOW

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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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%
GLOBAL METAL PRICE



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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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