WORLD MARKET
- Investors are keeping an eye on Washington, where lawmakers are starting to hammer out the next virus relief plan.
- Nasdaq 100 jumped to a record after Amazon.com and Zoom Technologies soared on demand for companies that benefit from more people staying at home due to the pandemic.
- Quarterly earnings gather steam, including Blackstone Group, Microsoft, Roche, Intel, Unilever, Canadian Pacific, UBS, Tokyo Steel, Daimler, Hyundai and Mattel.
- As of 9:00 AM IST, the European Union has reached an agreement on their 750 billion euro Stimulus.
STOCK WISE NEWS-
MAJESCO: U.S. subsidiary is now sold off to a PR firm, Thoma Bravo LP for a value of $594 million. Majesco will receive $420.66 million for its stake. Shareholders will receive $13.1 in cash for each share which is a steep premium to the current price.
INDIGO– The company had to lay off 10% of its workforce. Impacted people will get a severance package.
ACC Q2CY20 RESULT:
- Operational numbers are better than expected
- Volumes were down by 33.3% to 4.8 MT
- EBITDA Margin at 20.1% from 18.8%
- Realisation at Rs 5,315 per tonne
- EBITDA per tonne flat at Rs 1,094
CLSA On Telecom:
- Raise Our Vodafone Idea AGR Risk Estimate To 12.40/Sh. Downgrade Vodafone Idea To Underperform From Buy, Target Cut To 9.20 v/s 14.
- For Bharti Airtel, Raise AGR Risk Estimate To `48/Sh.Maintain Buy On Bharti Airtel, But Cut Target To 715 v/s 720.
AGR case is now deferred to August 10.
PVR Limited RE:
- NIPPON INDIA RETIREMENT FUND buys 20000 shares
- SUNDARAM BNP PARBAS MF buys 35000 shares
- SOCIETE GENERALE buys 25641 shares
- GAOLING FUND L.P sells 31985 shares
- TAIYO GREATER INDIA FUND sells 19144 shares
- MULTIPLES PRIVATE EQUITY FUND sells 87000 shares
Biocon Biologics & Voluntis in agreement for global
collaboration on Digital Therapeutics for Insulins.
Jubilant Life: Gets DGCI nod to manufacture and distribute Remdesivir.
HDFCBANK: ET reports that six employees were sacked for corrupt practices in granting loans.
SBI CARDS Q1FY21 RESULT:
Nifty50 rebalance to be effective from July 31st.
Earnings today: Hindustan Unilever, Bajaj Finance, Bajaj Finserv, Axis Bank HDFC Life, ICICI Prudential, SBI Life, Syngene, Tata Elxsi, Polycab, IndiaMART InterMESH, Hindustan Copper, Hindustan Zinc
FII bought 1710
Gold- 1818
DXY- 95.65 (Dollar Breakdown)
CRUDE- 43.35
Copper (LME)6,487.50 +0.61%
Aluminum (LME)1,664.50 +0.18%
Zinc (LME)2,200.50 +0.82%
