Market Update for 29/07/2020: | Street-fluence

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WORLD MARKET-

  • S&P 500 contracts nudged higher after the benchmark closed lower, with worse-than-estimated results from the likes of McDonald’s Corp. and 3M Co. weighing on shares
  • The Fed extended most of its emergency lending programs by three months, through the remainder of 2020.
  • Oil steadied after an overnight decline as investors shifted their focus to domestic supply, with expectations for another build in already swelling U.S. stockpiles.
  • Goldman Sachs put a spotlight on the suddenly growing concern over inflation in the U.S. by issuing a bold warning that the dollar is in danger of losing its status as the world’s reserve currency.
  • Pfizer climbed after the drugmaker raised its earnings forecast and began a later-stage trial for a coronavirus vaccine with its German partner.
  • A drop in U.S. consumer confidence added to evidence that the pace of the rebound is cooling as the virus interrupts reopenings in several states.

WORLD EVENTS

  • The Federal Open Market Committee’s announcement is due on Wednesday.
  • Earnings include Rio Tinto and Barclays on Wednesday; Thursday brings Apple, Amazon.com, Alphabet, L’Oreal, Credit Suisse and Samsung; Chevron and Caterpillar are set for Friday.
  • U.S. second-quarter GDP is expected on Thursday.
  • China PMI data comes Friday.
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STOCK WISE NEWS-

INDUSIND Q1FY21 RESULT UPDATE-

  • Gross NPA At 2.53% Vs 2.45% (QoQ)
  • NIM 4.28% v/s 4.25 %
  • Net Profit Down 67.8% At 460.6 Cr Vs 1,432.5 Cr (YoY)
  • NII Up 16.4% At 3,309.2 Cr Vs 2,844 Cr (YoY)
  • Moratorium 16% of the loan book
  • Board Approves Fund Raising Worth 3,288 Cr

NESTLE Q1FY21 RESULT UPDATE-

  • Net Profit Up 11.1% At 486.6 Cr Vs 437.8 Cr
  • Revenue Up 1.7% At 3,050.5 Cr Vs 3,000.8 Cr
  • EBITDA Up 4.9% At 747.6 Cr Vs 712.6 Cr
  • EBITDA Margin At 24.5% Vs 23.7%
    MANAGEMENT COMMENTARY:
  • Initial supply chain issues cause a miss
  • Built back momentum strongly as we ended the quarter
  • MAGGI witnessed solid growth towards the end of the quarter
  • Ecomm +122% in Q2

RBL BANK Q1FY21 RESULT UPDATE-

  • Net Profit Down 47.1% At 141.2 Cr Vs 267.1 Cr (YoY)
  • NII Up 27.4% At 1,041.3 Cr Vs 817.5 Cr (YoY)
  • Gross NPA At 3.45% Vs 3.62% (QoQ)
  • Moratorium 13.7% v/s 33%

NIIT Tech (Coforge) Q1FY21 RESULT UPDATE:

  • Revenue up 9.8% to Rs 1,057 crore
  • Net profit down 8.8% to Rs 79.9 crore
  • Ebitda up 22.4% to Rs 169.5 crore
  • Ebitda margin at 16% from 14%
  • Order intake of $186 million with three significant deals
  • The order book for the next 12 months up 18% to $465 million
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Bharti AR: Sunil Mittal says worst over for telecom industry, but need to solve legal issues with the Govt

EARNINGS TODAY: Bharti Airtel, Dr Reddy’s Laboratories, Maruti Suzuki, TVS Motor, InterGlobe Aviation, GSK Pharma, Manappuram Finance, Colgate-Palmolive, Rail Vikas Nigam, GMM Pfaudler

FII bought 246 cr
GOLD- 1950
DXY- 93.6
CRUDE- 43.6
Copper (LME)6,477.00 +0.88%
Aluminum (LME)1,724.00 +0.94%
Zinc (LME)2,246.50 +0.42%



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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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