Asian markets have begun the new trading week on a mixed note. Rising Covid-19 cases and simmering tensions between U.S. and China are keeping investors at bay.
On Friday, Nasdaq jumped more than 1% on Friday, powered by strong earnings from some of the largest U.S. companies, but the Dow and S&P finished with smaller gains as uncertainty about the government’s next round of coronavirus aid kept economic worries on the radar.
The Dow Jones Industrial Average rose 114.67 points, or 0.44%, to 26,428.32, the S&P 500 gained 24.9 points, or 0.77%, to 3,271.12 and the Nasdaq Composite added 157.46 points, or 1.49%, to 10,745.28.
The government on Saturday widened the scope of the Rs 3-lakh crore MSME credit guarantee scheme by doubling the upper ceiling of loans outstanding to Rs 50 crore and including certain individual loans given to professionals like doctors, lawyers and chartered accountants for business purposes under its ambit. The tweaking of the Emergency Credit Line Guarantee Scheme (ECLGS)was done based on demand from trade bodies and in line with new MSME definition approved by the Union Cabinet in June.
GST collections in July fell to Rs 87,422 crore from Rs 90,917 crore in June, according to a Finance Ministry statement. However, July collections are higher than Rs 62,009 crore in May and Rs 32,294 crore in April.
FPIs net buyers for 2nd month in July; invested Rs 3,301 crore.
Sebi on Friday said penalty for short-collection will not be applicable if trading members collect at least 20 per cent upfront margin from the client.
🎯 News & Impact 🎯
July Auto Sales :
Maruti Suzuki : Total sales down 1.1% to 1,08,064 units. Domestic sales up 1.3% to 1,01,307 units. Exports down 27% to 6,757 units Mini+Compact segment sales flat to 68,787 units. Passenger car sales down 2% to 70,090 units. Domestic PV sales up 1.3% to 97,768 units.
Hero MotoCorp : Overall sales up 14% to 5,14,509 units. Motorcycle sales at 4,78,666 units. Scooter sales at 35,843 units Exports at 7,563 units.
Mahindra & Mahindra : Overall sales up 33% to 25,678 units. PV sales up 37% to 11,025 units. Domestic sales up 31% to 24,211 units. Exports up 72% to 1,467 units. M&HCV sales up 37% to 70 units. Overall farm equipment sales down 30% to 25,402 units Farm equipment exports up 34% to 939 units. Positive for the stock. 👍
Ashok Leyland : Overall sales almost double to 4,775 units. LCV sales up 87% to 3,070 units. M&HCV Truck sales more than double to 1,461 units. Positive for the stock. 👍
TVS Motor : Overall sales up 27% to 2,52,744 units. Two-wheeler sales up 28% to 2,43,788 units. Exports up 17% to 62,389 units. Three-wheeler sales up 23% to 8,956 units.
Eicher Motors : Royal Enfield overall sales up 6% to 40,334 units. Exports up 55% to 2,409 units. Models with engine capacity up to 350 cc up 4% to 36,384 units.
VST Tiller Tractors : Power Tiller sales up 14% to 3,040 units. Tractor sales up 6% to 850 units.
Escorts : Overall sales down 51% to 5,322 units. Domestic sales down 53% to 4,953 units. Exports up 62% to 369 units.
🎯 Tata Motors Q1FY21 : Net loss widens to Rs 8,438 crore from Rs 3,698 crore. Revenue down 48% to Rs 31,983 crore. Ebitda down 79% to Rs 653.3 crore. Ebitda margin down to 2% from 4.87%. Finance costs rise due to high gross borrowing JLR revenue down 44% to 2,859 million pounds. Outlook remains uncertain for the year as infections continuing to rise. Negative for the stock.
🎯 UPL Q1FY21 : Revenue down 1% to Rs 7,833 crore. Net profit up 93% to Rs 551 crore. Ebitda up 29% to Rs 1,704 crore. Ebitda margin at 21.8% from 16.7%. Positive for the stock. 👍
🎯 Godrej Agrovet Q1FY21 : Revenue down 8.7% to Rs 1,554.2 crore. Net profit up 16.4% to Rs 88.5 crore. Ebitda up 16.9% to Rs 165.9 crore. Ebitda margin at 10.7% from 8.3%.
🎯 Ujjivan Small Finance Bank : Q1FY21 Net Interest Income up 30% to Rs 458 crore. Net profit down 41.4% to Rs 55 crore. Gross NPA flat at 0.97%. Net NPA at 0.18% from 0.2% last quarter.
🎯 IOL Chemicals & Pharma Q1FY21 : Revenue down 6.6% to Rs 460.1 crore. Net profit up 49.5% to Rs 127.5 crore. Ebitda up 5.2% to Rs 152.1 crore. Ebitda margin at 33.1% from 29.3%. Positive for the stock. 👍
🎯 CreditAccess Grameen Q1FY21 : Net Interest Income up 55% to Rs 383.2 crore. Net profit down 22% to Rs 74.6 crore. Gross Loan Portfolio up 53.9% to Rs 11,724 crore. Borrowers up 56.4% to 40.1 lakh.
🎯 IT Stocks :
The United States Department of Homeland Security (DHS) has increased fees for non-immigrant work visas by 21-75 percent, effective from October.
Negative for the stocks.
🎯 Cadila Healthcare : Gets tentative approval from the U.S. FDA to market Carbidopa and Levodopa Extended-Release Capsules. The drug is used in the treatment of Parkinson's disease. Positive for the stock. 👍
🎯 Indian Oil Corporation : Approves integrated para-xylene and Purified Terephthalic Acid (PTA) complex project plant at Paradip for an investment of Rs 13,805 crore.
🎯 Bandhan Bank : Promoter Bandhan Financial Holdings intends to sell 33.7 crore shares in a block deal as per the term sheet. Negative for the stock. Negative for the stock.
🎯 IOL Chemicals & Pharma : Board approves setting up a new unit for manufacturing of 'Metformin' with additional capacity of 7,200 MT per annum. Positive for the stock. 👍
🎯 IRB Infra : Gets Letter of Award from NHAI for Hybrid Annuity Project under Bharatmala Pariyojana for a Rs 1,241.8 crore project. The project involves construction of eight-lane controlled expressway of Vadodara-Mumbai expressway in Gujarat for a 27 km stretch.
🎯 Kalpataru Power : The company's JV Kohima-Mariana Transmission has commissioned two parts of the scheduled commercial operations.
🎯 Redington India : Has entered into an agreement to sell its entire shareholding in Ensure - an after sales service provider, to Accel for Rs 31 crore.
🎯 Kalpataru Power Transmission : Company successfully completed scheduled commercial operations of Element-1 (New Kohima Substation) and Element-3 (New Kohima - New Mariani Line). Positive for the stock. 👍
🎯 GMR Infrastructure : Long stop date for proposed divestment of 100 percent stake in GMR Kamalanga Energy (1050 MW) to JSW Energy has elapsed. Negative for the stock.
🎯 Reliance Capital : The Company fails to service debt of interest obligations due on August 2, 2020 with respect to the non-convertible debentures. Negative for the stock.
🎯 Dynemic Products : Promoter Prahladbhai Patel sold 74,500 shares (0.66%) at Rs 205 per share. Negative for the stock.
🎯 Ajanta Pharma : Promoters created pledge of 4.75 lakh shares on July 30. Negative for the stock.
🎯 Adani Enterprises : Promoter Adani Tradeline revoked pledge of 15.5 lakh shares on July 29. Positive for the stock. 👍
🎯 Hatsun Agro Products : Promoter RG Chandramorgan released pledge of 56.4 lakh shares on July 31. Positive for the stock. 👍
🎯 JSPL : Promoters revoked pledge of 35.84 lakh shares between July 24-27. Positive for the stock. 👍
🎯 Dish TV : Promoter Direct Media Distribution invoked pledge of 1.67 crore. Positive for the stock. 👍
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒
Edited by Sharp.
No comments:
Post a Comment