News Bulletin, Result Corner and Market Analysis: 01/11/2021

News Bulletin

▫️RBI Governor Shaktikanta Das has been reappointed for a term of 3 years.

▫️Adani Group acquired minority stake in Cleartrip.

▫️Voda Idea confirmed its acceptance for 4 year moratorium on AGR dues.

▫️High Court dismissed Future Retail’s plea against Singapore arbitration tribunal decision, which halted its merger with Reliance Retail.

▫️ Interest on EPF deposits left unchanged at 8.5%.

▫️Fiscal deficit for 1H’2022 was comfortable at 35% of budgeted estimate (3-year low).

▫️Govt. rolled back plan to share convenience fee from IRCTC.

▫️ Core sector output growth slowed down to 4.4% in September, from 11.5% in August.

▫️10 year government bond yields increased by 5 bps in 2 days due to enhanced supply.

▫️Nykaa IPO was subscribed 4.82 times on 2nd day.

▫️Non-Food bank credit credit grew 6.8% in September.

▫️ Jio phone will be in stores for sale from Diwali, confirmed RIL.

▫️ Tata Power and Tata Steel to jointly develop 41 MW solar plant in Odisha.

▫️DLF to build 2 million square feet, office space in Gurugram.

▫️The $4.1 conglomerate Godrej Group to be split between the brothers.

▫️ Facebook renamed itself as Meta.

▫️Coal futures fell sharply in China as government announced further price cuts for the commodity.

▫️Tyre manufacturers to increase prices as input cost rises (JK and Apollo tyres).

▫️ Maruti’s production to get hit during the November, due to supply constraints. The Company had more than 2 lakh customer pending orders at the end of September quarter.

▫️SEBi warned Vedanta for related party transaction of ₹1,407 crores.

▫️Indigo mulls raising ₹3,000 crore from banks.

▫️ Five IPOs to hit market in 1st half of November and raise ₹27,000 crore in aggregate.

▫️Ola has extended next purchase window to December 16, in a bid to fulfill its past orders.

▫️Zydus Cadilla to reduce its covid vaccine price to ₹256/jab.

Market Analysis

▫️Domestic market tumbled for 3rd consecutive session on Friday. Negative global cues and relentless selling by FPIs were the prime culprits.

▫️FPIs have been net sellers of Indian equities to the tune of ₹20,000 crores in October.

▫️Sensex and Nifty ended ata 59,307 (- 1.13%) and 17,672 (-1.04%), respectively. However, midcap and small cap indices fell lower than the frontline benchmarks.

▫️Sectorally, IT, technology, bank, financial services and utilities fell the most. While realty, health and auto ended with modest gains.

▫️Market breadth was negative, as 721 stocks rose and 1091 stocks fell. The only positive to take from Friday’s market was 2.74% dip in Volatility index.

▫️ Indian markets have a long history of falling on the month preceding muhrat trading, which is usually followed by bullish month.

▫️Gold prices slipped below to 48,000 mark due to stronger ruppee.

▫️Indian ruppee gained 4 paise to close at weekly high of 74.88.

▫️ Crude oil prices have stayed flat during the week end. Today morning WTI Crude is trading at $83.30.

▫️Dow Jones ended on a positive note on Friday, with bullish American economic recovery. However, disappointing results by Apple and Amazon did hurt the US investor sentiment to a certain extent.

▫️This morning US futures are trading in green. Asia has opened mix, whereas SGX Nifty is indicating positive start for Indian bourses for the Diwali week ahead.

▫️Stock in F&O Ban: PNB.

▫️Key results today: Aditya Birla Capital, Bajaj Consumer, HDFC, IRCTC, Relaxo and Tata Motors.

Results Corner (YoY)

▫️ SAIL reported ten fold jump in net profit to ₹4,338 crores, and 58% hike in revenue.

▫️Bandhan Bank reported ₹3,009 crore loss in Q2’22 compared to ₹920 crore profit in Q2’21, as the lender saw huge spike in bad loans. Gross NPA increased to 10.82%.

▫️Vedanta net profit jumped multifold from ₹838 crores to ₹4,615 crores. Revenue surged by 43%. Good results were due to high commodity prices.

▫️GAIL profit improved 131% and revenue 57%.

▫️Dr. Reddy’s net profit jumped 30% to ₹992 crores.

▫️Escorts net profit declined by 24% due to lower sales and higher input costs.

▫️UPL net profit surged by 36.4%, thanks to good sales.

This is for educational purposes only.

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