Market updates for 06/07/2020: – Street-fluence

thumbnail
Reading Time: 3 minutes


WORLD MARKET-

  • Shares in Shanghai surged more than 3% on strong volume, amid positive commentary on the market from state media.
  • Goldman Sachs Group Inc. now expects a wider contraction in the U.S. economy this year, saying third-quarter growth won’t be as strong as predicted.

WORLD EVENTS-

  • The EIA crude oil inventory report comes Wednesday.
  • All eyes will be on the U.S. weekly jobless claims report on Thursday.
  • Singapore holds its general election on Friday.

DOMESTIC EVENT:-

  • AMFI reclassification of Large, Mid and Small Caps:

STOCK WISE NEWS:-

  • HDFC Bank: Advances up 21% to Rs 10.04 lakh crore Deposits up 25% to Rs 11.89 lakh crore CASA Ratio as of June 30 at 40% from 39.7%. (All nos YoY).
  • HDFC : Profit on sale of investments at Rs 1,241 crore as compared to Rs 1,894 crore last year. This was due to the sale of 2.6 crore shares in HDFC Life. Gross income from dividend for the quarter at Rs 298 crore. Assigned loans amounting to Rs 1,376.
  • Marico: Reported volume decline on a year-on-year basis will be in the low teens due to significant skew of revenue and a high base in the first quarter of last year. Overall revenues have declined in double digits. For balance of FY21, expect operating margins to hold to a minimum of previous year levels.
  • ICICI Bank: Board to meet on July 8 to consider raising of funds. Funds can be raised via issue of equity shares and/or equity linked securities.
  • PI Industries: QIP committee to meet on July 8 to consider issue price.
  • Aarti Drugs: Smooth movement of cash flows will ensure ability to service debt and other financing arrangements. Supply chain nearly normal except some impact on transportation costs, which the company has passed on to the customer.
  • Edelweiss: Q4FY20 update- Net Interest Income down 57% to Rs 780 crore Net loss of Rs 2,245 crore from net profit of Rs 232 crore Total impairment costs at Rs 2,039 crore from Rs 103 crore.
  • MS on IT Q1FY20 preview: Cos to report mid-to high-single-digit qoq drop in rev , as volumes are affected. Margins should fall by 50-190bps qoq despite some cost savings. Commentary on outlook will be key to watch.
  • Equitas: Moratorium book at 50% vs 98% earlier reported. Collection efficiency has improved across biz verticals. Disbursements resume.
  • Federal Bank: CASA up 19%, Customer deposits up 16%
    Advances +8%, deposits +17%.
  • JSW Steel- Company started mining at Odisha blocks from July 1. Expects to meet majority ore requirement from Odisha mines.
  • Fertiliser sales jump 83% to 111.61 lakh tonnes in Apr-June: Govt.
  • NFL : Achieved highest-ever fertilizer sale of 12.85 Lakh MT in first quarter (April-June) of this financial year
    This is about 21.5% higher than the sales of 10.57 LMT made by company in the first quarter of 2019-20.
  • Airtel: UK Government and Bharti win to acquire satellite operator OneWeb.
Also Read on FinMedium:  My notes from various annual reports for 2020 – TCI Express – Factsbeyondnumbers

FII bought 857 cr
Gold- 1782
DXY- 96.8
Oil- 42.91
Copper (LME) 6,017.00
Aluminum (LME) 1,614.00
Zinc (LME) 2,026.00

Regards



Source link

Every Wednesday and Saturday, we send Info-Graphic and FinMedium Weekly Digest newsletters to our 25000+ Subscribers.

Join Them Now!

Please Share :)
Akshada Deo
Akshada posts the daily market updates in a summarized format. Stock Market, Literature, Music, and Design are her passions.
Back To Top