News Bulletin, Results Corner and Market Analysis: 02/11/21

News Bulletin

▫️ Wholesale dispatches of passenger vehicles by Maruti, Hyundai and M&M in October, were severely hit by semiconductor crisis.

▫️Tata Motors and Ashok Leyland posted growth in wholesale dispatches of automobiles backed by demand revival of commercial vehicles in the month of October.

▫️Tata Motors says EV waiting period at 6 months and passenger vehicles waiting period at 2 months due to acute shortage of chips.

▫️ India’s factory output growth reached 8 month peak in October.

▫️ Govt. recorded 2nd highest GST collection ever in the month of October at ₹1.3 lakh crores.

▫️October e-way bill generation came at 7.35 crores (highest ever).

▫️ Unemployment rate increased to 7.75% in October from 6.85% in September, due to sudden spike in rural unemployment.

▫️ Merchandise exports hit record $35.5 billion in October, a 42.3% growth YoY and 35.2% growth from pre pandemic level.

▫️Imports also surged by 62.5% YoY to $55.4 billion in October. (Mainly due to high crude oil prices)

▫️ Government plans to connect 40 crore people with internet connection in 3 years.

▫️Indian Oil Corporation to set up nation’s first Anhydride plant for ₹3,681 crores.

▫️World Bank to grant $1 billion green loan to India, which will be backed by UK to battle climate change

▫️Elon Musk owned Space X sets up subsidiary in India, to offer broadband services. It aims to offer broadband services in India from December 2022 (Negative for Jio and Airtel).

▫️ Reliance Retail to set up India’s first open air rooftop drive in theatre.

▫️Over 50% of work force will return to office by Jan for 3 days a week.

▫️ Registration of homes in Mumbai up 8% in October.

▫️Airtel launches 5G use demo for enterprises.

▫️NCC bags mining projects worth ₹442 crores.

▫️ License of 64 sugar mills withheld over unpaid farmer dues.

▫️US monthly manufacturing activity slowed down in October.

▫️ Bank of Baroda to raise ₹3,000 crore via bonds.

▫️Nykaa issue subscribed 81.78 times.

▫️PB Fintech IPO subscribed 54% on first day.

▫️ Bandhan Bank gets empanelled as agency bank of RBI, for undertaking government business

▫️Coal dispatches by Coal India was at all time high in 1H FY22.

▫️ Australia recognised India’s Covaxin for travel purposes.

▫️Adani ports is mopping up huge sum of money to acquire Concur.

▫️October power demand rose by 4.1% YoY.

▫️ India sets net zero climate goal target by 2070 and 50% of power consumption to be met by renewable resources by 2030.

▫️Jet fuel price has increased by 13.86% in October (month on month), while the price has increased by 95% from last year.

Result Corner (QoQ)

▫️Tata Motors revenue grew 14.7% to Rs 61,379 crore. While company recorded net loss of ₹3,467 crores compared to net loss of ₹819.55 crores during previous year. However, the Company’s management commentary was strong regarding future outlook.

▫️HDFC PAT grew 32% to ₹3,780 crores. Net Interest Income increased by 17% to ₹8,255 crores. Gross NPA fell 24 bps sequentially to 2%. (Management commentary strong)

▫️Aditya Birla Capital net profit surged 42.6% to ₹376.9 crores, led by robust revenue growth.

▫️ IRCTC reported five fold jump in net profit to ₹158.6 crores, led by nearly 4 times jump in revenue to ₹421 crores.

Market Analysis

▫️Indian equities snapped 3 day loosing streak and ended on a positive note, thanks to record GST collection data, manufacturing data and upbeat management commentaries.

▫️Sensex, jumped 1.40% to 60,138.5. The Nifty 50 index advanced 1.46% at 17,929.7. Midcap and smallcap indices also ended with c.1% gain.

▫️All sectoral indices ended in green except oil and gas. The rally was led by IT, Metal and Media.

▫️Market breadthwas strong. On the BSE, 2,119 shares rose and 1,193 shares fell. A total of 189 shares were unchanged.

▫️ Gold continue to trade range bound at ₹48k levels, before the crucial Fed Meet.

▫️Ruppe closed flat at 74.87, as heavy FPI inflows in domestic IPOs were offset by stronger dollar overseas.

▫️ Crude oil price rose again due to slower output increase by OPEC. WTI Crude is trading at $84.25.

▫️Dow Jones closed with gain of nearly 100 points, as gain in chip, business, software and automotive ked the rally.

▫️This morning US futures are trading with loss of 80 points. Asia is trading mixed and SGX Nifty is indicating muted start for Indian markets.

▫️Stocks in F&O ban: ESCORTS & PNB.

▫️Key results today: Angel Broking, Bharti Airtel, Dabur, EaseMyTrip, Gillette, Godrej Properties, Hind Petro, Jindal Steel, PNB Housing, Radico Khaitan, Sun Pharma and Trent.

This is for educational purposes only.

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