Market Updates for 28/07/2020: | Street-fluence

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WORLD MARKET:-

  • Senate Republicans presented a $1 trillion stimulus package amid a renewed increase in Covid-19 cases around the world.
  • China had only bought about 23% of the total purchase target of more than $170 billion for goods in 2020, according to Bloomberg calculations based on Chinese Customs Administration data.
    That has quickened on a month-over-month basis from May’s 19% marker, but it means China needs to buy about $130 billion in the remainder of the year to comply with the agreement signed in January.
  • Japanese banks face sharply higher bad loan costs due to the pandemic, but the damage is unlikely to show through in first-quarter earnings reports. The three largest lenders have already forecast credit costs will swell to an 11-year high of $10 billion in the year ending March 2021.

WORLD EVENTS:-

  • Earnings include Apple, Amazon.com, Alphabet, Chevron, Rio Tinto, L’Oreal, Caterpillar, Samsung, Barclays and Credit Suisse.
  • The Federal Open Market Committee holds its policy meeting on Tuesday, with an announcement due on Wednesday.
  • U.S. second-quarter GDP is expected on Thursday.
  • China PMI data comes Friday.

STOCK WISE NEWS:-

BHARTI INFRATEL Q1FY21 RESULT UPDATE- (Below expectation QoQ)

  • Net Profit Up 8.3% At 703.6 Cr Vs 649.5 Cr
  • Revenue Down 3.3% At 3,504.7 Cr Vs 3,624.4 Cr
  • EBITDA Up 5% At 1,807 Cr Vs 1,721.4 Cr
  • EBITDA Margin At 51.6% Vs 47.5% Board has accepted the resignation of DS Rawat as Managing Director & CEO effective August 3.
BROKERAGE UPDATE

TECH MAHINDRA Q1FY21 RESULT UPDATE- (QoQ Better than estimates)

  • Net Profit Up 20.9% At 972.3 Cr Vs 803.9 Cr
  • Revenue Down 4% At 9,106.3 Cr Vs 9,490 Cr
  • EBIT Down 3.4% At 917.3 Cr Vs 949.6 Cr
  • EBIT Margin At 10.1% Vs 10%
  • $ Revenue Down 6.7% At $1,207.5 m Vs $1,294.6 m
BROKERAGE UPDATE

UNITED SPIRITS Q1FY21- (YoY Below expectations)

  • Net Loss At 215.3 Cr Vs Profit Of 197.4 Cr
  • Revenue Down 53.6% At 1,030.2 Cr Vs 2,218.4 Cr
  • EBITDA Loss At 77.6 Cr Vs Profit of 395.1 Cr
Also Read on FinMedium:  Tail risks | Value Investor India

PFIZER RESULT UPDATE Q1FY21 – (YoY)

  • Revenue Down 5.4% At 514.9 Cr Vs 544.4 Cr
  • EBITDA Up 12% At 186.1 Cr Vs 166.1 Cr
  • EBITDA Margin At 36.1% Vs 30.5%
  • Net Profit Up 10.3% At 124.5 Cr Vs 112.8 Cr

BEL RESULT UPDATE Q1FY21- (YoY)

  • Sales down 21.1% to 1675.6 v/s 2124.5 cr
  • EBITDA down 58.9% to 146.1 v/s 355.1 cr
  • EBITDA margins down to 8.7% v/s 16.7%
  • Profit down 74.5% to 53.8 v/s 210.7 cr
  • Order book as on 1st July 2020 at 53752cr

NIPPON AMC RESULT UPDATE Q1FY21:

  • PAT at Rs 156 cr vs Rs 3.7 cr QoQ
  • Rev at 233 cr vs 274.5 cr QoQ (325 cr YoY)
  • AUM declined from 221,000 cr in Feb to 173,100 cr in April
  • Gold Fund AUM growth crossed 4,200 cr

Bharti Airtel: Hughes Network Systems, led by the U.K. Government and Bharti Enterprises, will acquire OneWeb out of bankruptcy. Hughes has agreed in-principle to invest $50 million in the consortium. Additionally, Hughes will continue as a trusted technology and distribution partner to OneWeb, the Low Earth Orbit satellite operator.

Escorts Concall Highlights :

  • Exp domestic tractor industry to post single digit growth in FY21
  • Implies 10% growth for the remainder of FY21
  • Growth in tractors is widespread across states
  • Industry sales up 22% – June
  • Southern region grew up 50% in june
Also Read on FinMedium:  Market Update for 04/09/2020: | Street-fluence

Chennai Petroleum : GRMs stood at $11.9/bbl – given huge inventory gains at $8.9/bbl

KOTAK CON CALL:

  • The balance sheet is more important than short term P&L
    banks has an MTM gain of 3,000 cr; Q1 at 1,000 cr.
  • The one-time restructuring will come with pain to both the bank and customers.
  • Saw surge in activity in the month of June.
  • Early data trends show that activity declined in July in comparison to June.
  • NIM at 6 qtr low of 4.4% vs 4.72% QOQ
  • Moratorium at 9.65% of book
  • GNPA ratio at 2.7% vs 2.25%QOQ
  • NNPA ratio at 0.87% vs 0.71%QOQ

Google to offer cloud services for Wipro’s digital transformation strategy.

IndusInd Bank: It plans to raise between $400m and $500m of funds if the plan is approved at its board meeting on Tuesday.

Earnings Today: Nestle India, UltraTech Cement, IndusInd Bank,Yes Bank, Coforge, Castrol India, Sanofi India, Tata Coffee, Orient Cement, Quess Corp, Sunteck Realty, RBL Bank, Hexaware Tech, IDBI Bank, IDFC First Bank

FII sold 453 cr
[HDFC Bank 1100 cr delivery selling
ICICI Bank 650 cr delivery selling]
GOLD- 1943 (touched 2000 yesterday)
DXY 93.75
CRUDE- 44
Copper (LME)6,420.50 +0.09%
Aluminum (LME)1,708.00 +0.47%
Zinc (LME)2,237.00 +0.86%



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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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