Market Update for 20/07/2020: | Street-fluence

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WORLD MARKET-

  • EU still hasn’t set aside its differences on how to distribute the 750 Billion Euro stimulus. Last Friday’s discussions come with no conclusions.
  • Quarterly earnings gather steam, including Blackstone Group, Microsoft, Roche, Intel, Unilever, Canadian Pacific, UBS, Tokyo Steel, Daimler, Hyundai and Mattel.
  • U.S. Govt will sell $14 Billion in 10-year TIPS, as inflation linked debt on Thursday. There won’t be fresh speeches from Fed officials because they are in the blackout period ahead of their 28-29 July meeting. Auction Calendar for Bonds:

    July 20: $45 billion 13-week bills; $51 billion 26-week bills
    July 21: $30 billion 42-week cash management bills; $30 billion 119-day CMB; $20 billion 273-day CMB
    July 22: $17 billion 20-year bonds reopening
    July 23: 4-, 8-week bills; $14 billion 10-year TIPS

  • Japan’s government will start paying its companies to move factories out of China and back home or to Southeast Asia, part of a new program to secure supply chains and reduce dependence on manufacturing in China.

STOCK WISE NEWS-

30% of nifty heavy-weight results are this week.

HDFCBANK Q1FY21:

  • NII up 17.8% to Rs. 15,665 cr
  • Net Profit up 19.5% to Rs. 6,658.6 crore
  • GNPA at 1.36% from 1.26% QoQ
  • NNPA at 0.33% v/s 0.36% QoQ
  • Provisions at Rs 3,891.5 cr from Rs. 3,784 cr
  • 9% of customers in number and value are under moratorium.
BROKERAGE UPDATE ON HDFCBANK

ICICIGI QIFY21:

  • Gross premium down 5% at 3394 cr
  • Net income up 28% to Rs 398 cr
  • Solvency at 2.5 times from 2.17 QoQ
  • Net premium from Health up by 10% to 588 Cr
  • Net premium from Motor down 2% to 1452 cr
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M&M Fin: Rights issue has been approved at a price of 1:1. Record date is 23rd July. Issue will open on July 28 and close on August 11. Price for rights has been set at 50/share. Mr Vivek Karve is the newly appointed CFO.

Q1FY21:

  • Total income up 8% to Rs 3,056 cr
  • NP up more than 4 times to Rs 431.7 cr
  • Exceptional gain of 229 cr post 49% dilution in its JV with Manulife Asset management
  • Gross stage 3 at 9.19% from 8.17 YoY
  • Net Stage 3 assets at 5.72% from 6.27 YoY
  • PCR at 40.1% from 24.9%
  • Provisions for COVID-10 at 664 cr
  • AUM up 14% to 81,000 cr
  • Value of Assets financed this quarter is Rs 3,489 cr
  • 40% of moratorium availed customers are repaying installments.

YES BANK: FPO Subscribed 95% on day 3. Bank has raised 14,267 cr through it.

VODAIDEA: An additional Rs 1,000 cr is deposited with TRAI regarding AGR dues, with the total deposit now being Rs 6,854 cr.

AGR case today in court at 2 PM

GRANULES: Guidance of margin growth of 23% and PAT growth of 30%in FY21.

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DIVISLAB: CFO on Leave for 3 months to resolve Insider trading case.

GLENMARK: DCGI Issues queries in Favipravir’s effectiveness and cost. This is a clarification based on a complaint.

MUTHOOT FINANCE: Plan to do a stock-split is now deferred.

AVIATION DATA:

  • June Air Traffic down 83.5% At 19.84 Lakh Passengers YoY
  • June Capacity Utilization IndiGo at 60.7% SpiceJet at 68%
  • June Market Share IndiGo at 52.8% SpiceJet at 16.8%

CADILA: Receives final approval from USFDA for Butalbital, Acetaminophen and Caffeine Tablets. The drug will be manufactured at Nesher Pharma’s manufacturing facility in, USA. Market size of the drug $42mn.

CONCOR: Govt will soon issue EoI to sell stake in the company.

SCRAPPAGE POLICY: The proposal is currently being discussed by heavy industries, Steel industry, and transport ministries. A final view on this proposal is being reviewed and it will be out soon.

Earnings today: ACC, SBI Cards

FII bought 697 cr
Gold- 1808
DXY- 96.1
Crude- 42.88
Copper (LME)6,448.00 +0.18%
Aluminum (LME)1,661.50 -0.54%
Zinc (LME) 2,182.50 -1.93%



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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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