Daily Market Analysis – 22nd Oct 2020
Ecommerce Giant Amazon and Walmart owned Flipkart Group had a separate discussion with Aditya Birla Fashion & Retail (which owns brands like Pantaloons, Allen Solly & Peter England) to acquire a minor stake. According to the sources, offline retailers specifically in the fashion & apparel segment, have been severely hit by the covid 19 pandemic & the resulting...
Daily Market Analysis – 21st Oct 2020
Hindustan Unilever (HUL) Q2 earnings beat estimates. HUL profit rises by 8.7% to Rs. 2,009 crore compared to Rs. 1,848 crore in the same period last year. Revenue from operations increased by 16.1% to Rs. 11,442 cr in Q2FY21 compared to Rs. 9,852 cr in the corresponding period last fiscal year. The operations and service levels of the company are now back to Pre- COVID levels and have...
Daily Market Analysis – 20th Oct 2020
Dr. Reddy’s receives DCGI approval to conduct phase 2/3 trials of the Sputnik V vaccine in India Dr. Reddy’s Laboratories (DRL) has received regulatory approval from the Drugs Controller General of India (DCGI) to conduct mid-to-late-stage human trials for Russia’s Sputnik V vaccine candidate in India. The developments bring India a step closer to potentially getting a Covid-19 vaccine by...
Daily Market Analysis – 19th Oct 2020
The Asian markets have started at a higher note on Monday, on the hopes of a US fiscal package before the US presidential elections in November 2020, and expectations of a coronavirus vaccine by the end of this year. Boosting the overall sentiment, drug maker Pfizer Inc said on Friday it could have a coronavirus vaccine ready in the United States by the end of this year. In the global...
Daily Market Analysis – 16th Oct 2020
1. Oil falls as possible OPEC+ supply boost, COVID-19 spike weigh on sentiment A technical committee of the Organization of the Petroleum Exporting Countries (OPEC) and allied oil producers, a group known as OPEC+, ended a meeting on Thursday expressing concerns about rising oil supply as social restrictions to curb the spread of COVID-19 limit fuel usage. OPEC+ is set to reduce its...
Daily Market Analysis – 14th Oct 2020
WIPRO reported a dollar revenue growth of 3.75 at $ 1,992.4 million against $ 1,921.6 million QoQ. Management expects dollar revenue growth at 1.5-3.5% inQ3. The company announced a buyback of shares worth Rs. 9,500 Crs at Rs. 400 per share. Future outlook: The company said that it has signed a definitive agreement to acquire Eximius Design, a leading engineering services company...
Daily Market Analysis – 13th Oct 2020
To make home loans cheaper, the Reserve Bank of India said that it will rationalise the risk weights and link them to Loan-to-Value (LTV) ratios for new housing loans sanctioned up to March 31, 2022. What it means is that banks are given a leeway while giving out larger housing loans. With reduced risk weights for loans above ₹75 lakh, the cost of lending to this customer segment will come...
Daily Market Analysis – 12th Oct 2020
Indian equities are entering this week in a cheerful mood, courtesy to positive local and global cues. The earnings season kicked off on an upbeat note after IT major TCS announced robust second-quarter earnings. On the global front, updates on the US stimulus package and upcoming Presidential debates will provide support to the markets Mazgaon dock Shilpbuilder, the country’s...
Daily Market Analysis – 09th Oct 2020
1. RBI Governor Shaktikanta Das announced that MPC has kept the policy rates unchanged (Repo rate 4%, Reverse Repo rate 3.35%) and is to maintain an accommodative stance. 2. The Union Cabinet on Wednesday announced a new e-bidding platform to promote market price discovery of natural gas produced from fields across a number of contractual regimes, where producers already have pricing...
