KEY HIGHLIGHTS
Closing Bell: Fourth Day Of Gains
Indian equity markets ended higher for the fourth straight day, tracking positive global cues and despite no easing in fresh Covid-19 cases in the country.
The S&P BSE Sensex ended 1.3% higher at 36,487 while the NSE Nifty 50 index gained 1.47% to end at 10,763. Both benchmark indices ended at their highest level since March this year.
Among the sectoral indices, banking stocks moved in line with the benchmarks with the Nifty Bank index ending with gains of 1.6%.
The outperformers of the day were auto, metals and real estate stocks. The Nifty Auto index ended with gains of 3%, led by Mahindra & Mahindra which ended as the top performing stock on the Nifty 50 index, with gains of 7.4%. Tata Motors and Maruti also contributed to the gains, ending 5.4% and 3.4% higher respectively.
Other gainers were the Nifty Realty which gained 2.8% while the Nifty Metal index gained 2.4%.
Broader markets too moved in line with the benchmarks. The Nifty Midcap index ended with gains of 1.6% while the Smallcap index ended with gains of 1.77%.
The India Volatility index ended at a four-month low, down 2.2% to 25.19.
Market breadth ended in favour of the advances. 1,120 stocks on the NSE ended with gains while 719 posted losses.
RIL, HDFC Bank Lead Gains
Earnings Reaction: Bodal Chemicals Q4FY20
- Revenue up 7% to Rs 368.4 crore
- Net profit down 22% to Rs 23 crore
- Ebitda down 9% to Rs 39.8 crore
- Ebitda margin at 10.8% from 12.7%
- Dye Intermediates revenue down 10% to Rs 134.4 crore
- Dyestuff revenue up 13% to Rs 130.9 crore
- Basic Chemicals revenue down 23% to Rs 33.3 crore
- All numbers are consolidated and compared on a year-on-year basis
Shares are off the day's high, trading with gains of 6.34% at Rs 66.40.
Top Nifty Gainer: Mahindra & Mahindra
- Trades at the highest point of the day
- Gains as much as 7.7% to Rs 571.5
- Biggest single-day gain in three months
- Trades at the highest level in five months
- Up for the third straight day
- Longest winning streak in a month
- Has gained 14.3% in the last three trading sessions
- Today's volumes are double its 30-day average
- Stock trades in overbought territory with Relative Strength Index (RSI) at 75
- Has more than doubled from its 52-week low of Rs 245 on March 25, 2020
- 36 out of the 42 analysts tracking the stock have a buy recommendation; 2 sell calls
- The stock now trades 2.8% above its 12-month consensus price target of Rs 549.79, implying a negative return potential
Revival In Auto Sales?
Starbucks India JV's FY20 Revenue Rises 21%
Tata Consumer Products' Joint Venture with Starbucks saw a 21% growth in its topline for the year ended March, boosted by new stores in India and strong performance of existing outlets, Bloomberg News reports.
The company added 39 starbucks stores, taking the total count to 185 stores across 11 cities in India.
Tata Group Chairman N Chandrasekaran in a statement on Monday, said that operations in the March quarter were affected due to Covid-19.
He also said that the company is exploring new revenue models including delivery and open pick-up systems.
Shares of Tata Consumer Products are trading near the day's high, up 2.6% at Rs 406.7, up for the third straight day.
All But One Stock Gain On The Nifty Auto Index
Buzzing Stocks: Hindustan Copper
- Top gainer on the Nifty Metal index
- Gains as much as 13.9% to Rs 37.9
- Biggest single-day gain in six months
- Trades at the highest level in five months
- Up for the third straight day
- Biggest single day gain in a month
- Today's volumes are 7.2 times higher than its 30-day average
- Stock trades in overbought territory with Relative Strength Index at 74
- Has more than doubled from its 52-week low of Rs 18.25 on March 24, 2020
Stock Reaction: Power Mech Projects
The company informed the exchanges that it has won orders worth Rs 1,507 crore.
Out of the total orders, Rs 290 crore is from the Yadadri Thermal Power Projects, sand mining contracts worth Rs 477 crore from the Madhya State Mining Corporation.
It is also the lowest bidder for the EPC tender called by NMDC for the turnkey job of the proposed 12 MTPA installation of the third screening and crushing plant of iron ore at Kirandul, Chhattisgarh.
The order from the Yadadri Thermal Power Plant needs to be executed over 26 months.
Shares gained as much as 7.5% to Rs 504, post the announcement.
Markets At 2:10 P.M.
- Benchmark indices trade at a four-month high
- Nifty up 1.6% at 10,773
- Sensex up 1.44% at 36,525
- Nifty Bank up 2% at 22,275
- Nifty Midcap Index up 1.3%
- Nifty Smallcap Index up 1.5%
- India Volatility Index down 1.5% to 25.36
- Nifty Pharma remains the top sectoral laggard; down 0.6%
- Nifty Auto and Nifty Metal up nearly 2.5% each
- Nifty I.T., Nifty PSU Bank and Nifty Realty up between 1-1.7%
- Mahindra & Mahindra is the top Nifty gainer; up 6.2%
- GAIL is the top Nifty laggard; down 1.3%
- 1,142 stocks on the NSE trade with gains while 672 stocks decline
Money Market Update
The currency snapped a three-day gaining streak today, ending flat but with a negative bias.
The rupee ended at 74.68 against the U.S. Dollar as compared to Friday's close of 74.64.
Today's losses meant that the rupee ended as the second-worst performing currency in Asia. The rupee along with the Japanese Yen were the only two currencies that weakened against the greenback in today's session.
Yield on the 10-year government bond ended flat at 5.836% which was also the level at which it began the day's trade.
Hindustan Copper Leads Gains On The Metal Index
Active Stock Options
- Reliance Industries' 1,900 Call: Premium up 56.4% to Rs 42.3. The contract has added 1.22 lakh shares in Open Interest.
- Bharti Airtel's 600 Call: Premium down 0.6% to Rs 16.55. The contract has added 8.4 lakh shares in Open Interest.
- State Bank of India's 190 Call: Premium up 21% to Rs 9. The contract has added 2.64 lakh shares in Open Interest.
India Ratings Expects Corporate Stress To Rise
- Expect corporate stress to rise to 18.21% of outstanding debt by FY22
- Additional Rs 1.67 lakh crore worth of debt from top 500 debt heavy private companies to turn bad by FY22
- This is over and above Rs 2.54 lakh crore worth debt turning delinquent, estimated before Covid-19 crisis
- This constitutes 6.63% of additional delinquent debt to be added to outstanding corporate loans.
- Further downside risk: In the event that credit markets continue to show high risk aversion, another Rs 1.68 lakh crore worth delinquent debt could be added to this estimate by FY22.
Source: India Ratings Statement
Fourth Day Of Losses For India VIX
Buzzing Stock: Hindustan Aeronautics
- Trading at the highest level since November 2018
- Gains as much as 7% to Rs 911.9
- Biggest single-day gain in a month
- Up for the third straight day
- Longest winning streak in a month
- Has gained 17% over the last three trading sessions
- Today's volumes are 10.6 times higher than its 30-day average
- Stock trades in overbought territory with Relative Strength Index (RSI) at 83
- Has doubled from its 52-week low of Rs 448 on March 24, 2020
- One analyst has a buy rating while the other has a hold rating on the stock
- The stock trades 8.9% above its 12-month consensus price target of Rs 810, implying a negative return potential
Positive Start In Europe
European markets look to erase Friday's losses after opening with gains at the start of the new week. Benchmarks are following gains from its peers in Asia.
The Stoxx 600 index opened 1.6% higher with all sectors trading with gains. Banks and construction stocks were the lead outperformers.
Most Asian markets have ended with gains while futures on the Dow Jones are trading higher by 350 points.
Brent crude is trading 1.2% higher at $43.34 while gold is up 0.3% at $1,777.4/Oz.
Let's take a look at how benchmark indices across Europe have opened:
- Euro Stoxx 50 up 2.1% at 3,362
- DAX up 2% at 12,777
- CAC up 2.1% at 5,111
- FTSE 100 up 1.9% at 6,273
- IBEX 35 up 2.1% at 7,560
How Are The Sectoral Indices Faring
Stock Reaction: Eclerx Services
The company at its board meeting held today has approved a buyback of equity shares.
The company will buyback 19.9 lakh equity shares at a price not exceeding Rs 550 per share.
The buyback price is a 15.5% premium to Friday's closing price of Rs 476.
The total buyback size is worth Rs 110 crore, according to the company's exchange filing.
Shares are off the day's high, after gaining as much as 10.75% to Rs 527.9. The stock is up for the seventh straight day, the longest gaining streak since December 2018.
Quarterly Business Updates: IndusInd Bank & Federal Bank
For IndusInd Bank:
- Advances up 4% to Rs 2 lakh crore
- Deposits up 6% to Rs 2.11 lakh crore
- CASA Ratio at 40.2% from 43%
- Comparisons on a year-on-year basis
For Federal Bank:
- Advances up 8% to Rs 1.23 lakh crore
- Total Deposits up 17% to Rs 1.54 lakh crore
- Customer deposits up 16% to Rs 1.49 lakh crore
- CASA Ratio at 32.02% from 31.44%
- Liquidity Coverage Ratio at 227.79% from 147.38%
- Shares of IndusInd Bank gained as much as 4.47% to Rs 509 and are among the top performers on the Nifty 50 Index.
- Shares of Federal Bank gained as much as 3.2% to Rs 54.70.
Stock Reaction: Kalpataru Power Transmission
The company informed the exchanges this morning that it has signed definitive agreements to sell Alipurduar Tranmission Ltd. - a wholly-owned subsidiary to Adani Transmission.
The enterprise of the deal is around Rs 1,286 crore, according to its exchange filing and is subject to requisite approvals and compliances.
We are now targeting to complete the sale and transfer of all balance T&D assets in FY20-21. The sale of T&D assets is a pivotal step in accelerating KPTL’s growth strategy.Manish Mohnot, Managing Director, Kalpataru Power
Shares are trading at the day's high, gaining as much as 7.1% to Rs 250.80, up for the fifth day in a row.
Markets At Noon
- Benchmark indices remain near the day's high
- Nifty up 1.43% at 10,762
- Sensex up 1.25% at 36,484
- Nifty Bank up 1.8% at 22,262
- Nifty Midcap Index up 1.3%
- Nifty Smallcap Index up 1.5%
- India Volatility Index down 1.1% to 25.48
- Nifty Pharma remains the only sectoral laggard; down 1%
- Nifty Metal is the top sectoral gainer; up 2.5%
- Nifty Auto, Nifty I.T index gain 1.5% each
- Nifty Realty and Nifty PSU Bank index up 1% each
- Hindalco is the top Nifty gainer; up 4.6%
- Bajaj Auto remains the top Nifty laggard; down 1.1%
- 1,155 stocks on the NSE trade with gains while 602 decline
Buzzing Stock: ITI
- Top performer on the Nifty Smallcap Index
- Gains as much as 20% to Rs 134.3
- Biggest single-day gain in three months
- Trades at the highest level since January 2018
- Up for the second straight day
- Up 28% in the last two trading sessions
- Today's volumes are 15.4 times higher than its 30-day average
- Stock trades in overbought territory with Relative Strength Index (RSI) at 81
- Has tripled from its 52-week low of Rs 44.8 on March 13, 2020
Earnings Reaction: Himatsingka Seide Q4FY20
- Revenue down 35% to Rs 434.6 crore
- Net loss of Rs 68.8 crore from net profit of Rs 48.3 crore
- Ebitda down 47% to Rs 59.7 crore
- Ebitda margin at 13.7% from 17%
- Other income rises to Rs 36.8 crore from Rs 1.9 crore
- Exceptional item of Rs 43.05 crore owing to write down of inventory due to adverse impact of Covid-19 on sales and profitability
- Expenses incurred on account of restructuring activities of European business worth Rs 12.1 crore
- Hedge ineffectiveness of Rs 11.42 crore as forecasted sales are not expected to occur due to lockdown restrictions
- All numbers are consolidated and compared on a year-on-year basis
Shares fell as much as 9.1% - the most in three months to Rs 58.05.
Stock Reaction: L&T Finance Holdings
The company informed the exchanges that the Share Purchase Agreement with Proud Securities & Credits has been mutually terminated, due to non-receipt of necessary regulatory approvals, in accordance with the terms of the agreement.
L&T Finance had signed a share purchase agreement to sell 100% stake in L&T Capital Markets (Middle East) to Proud Securities and Credits in November 2019.
Shares gained as much as 5.25% to Rs 71.20.
Power Market Update For June 2020
- IEX Electricity market trades 4,790 MU volume in June, up 5%
- National peak demand and energy consumed falls 10%
- Average price of Rs 2.35 per unit sees a fall of 29%, assisting discoms in significant savings
- Day-Ahead Market traded 4,174 MU and witnessed high sell-side liquidity in June
- 237 customers participated in the new market segment in June
- Price for Solar RECs fell 50% to Rs 1,000 per REC in June
Shares of the Indian Energy Exchange gained as much as 4.1% to Rs 195.60, and are up for the fourth straight day.
Stock Reaction: Marico's Q1 Business Update
- Reported volume decline on a year-on-year basis will be in the low teens due to significant skew of revenue and a high base in the first quarter of last year.
- Expect to bounce back and post volume and growth during the rest of the year.
- International business witnessed mid-single digit decline in constant currency terms but should recover during the course of the year. It is now clocking more than 100% of FY20 monthly average topline led by the Bangladesh business.
- Overall revenues have declined in double digits.
- Aggressive cost control, benign input costs, rationalisation of A&P spends in a few discretionary portfolios, will lead to expansion of operating margins compared to the corresponding quarter last year.
- For balance of FY21, expect operating margins to hold to a minimum of previous year levels.
Shares are off the day's low, after falling as much as 4.4% to Rs 342.75.
Nifty Pharma Index Is The Only Sectoral Laggard
F&O Snapshot: Active Options Contracts
- Nifty July futures add 11.9% and 13.1 lakh shares in Open Interest.
- Nifty Bank July futures add 12.7% and 1.73 lakh shares in Open Interest.
Nifty: July 9 Expiry
- 10,700 Call: Premium up 59.3% to Rs 96.1. The contract has added 2.05 lakh shares in Open Interest.
- 10,800 Call: Premium up 59% to Rs 50.65. The contract has added 4.5 lakh shares in Open Interest.
- 10,600 Put: Premium down 54.2% to Rs 57.25. The contract has added 12.2 lakh shares in Open Interest.
Nifty Bank: July 9 Expiry
- 23,000 Call: Premium up 23.3% to Rs 92.55. The contract has added 2.8 lakh shares in Open Interest.
- 22,500 Call: Premium up 34% to Rs 238.3. The contract has added 1.44 lakh shares in Open Interest.
- 22,000 Put: Premium down 45% to Rs 270.4. The contract has added 3.39 lakh shares in Open Interest.
Stock Reaction: National Fertilisers Q1 Update
- Highest ever fertiliser sale of 12.85 lakh MT during the quarter.
- Quarterly sales are 21.5% higher as compared to previous year.
- P&K Fertilisers recorded a growth of 13% during the quarter at 5.3 lakh MT
- Sold 4.59 lakh MT of fertilisers in June, up 15.5% as compared to June 2019
Shares gained as much as 18% - the biggest single-day gain since May 2014 to Rs 36.3.
Stock Reaction: Steel Strips Wheels
The company has informed the exchanges regarding another order win for the U.S Caravan Trailer market.
The export order consists of over 1.19 lakh wheels and will be executed in the month of August from the company's Chennai plant.
The orders are d at $1 million, according to the company's exchange filing.
According to the company, this is the largest monthly order from one customer. Ramp up of production at the Chennai facility will increase further post this development.
Shares gained as much as 2.1% to Rs 441, snapping a two-day losing streak.
Stock Reaction: Sobha's First Quarter Business Update
- Clocked 70% of sales volume during Q1FY21 as compared to Q4FY20.
- Demand remained consistent despite pandemic-related uncertainties.
- Managed to reduce net debt and average interest cost of borrowing during the quarter.
- Reduced net debt for the second straight quarter.
- Bengaluru contributed 74% of total sales volume during Q1FY21.
- Sales volume of 6,50,400 square feet, d at Rs 488 crore.
- Average realisation during the quarter at Rs 7,498 per square feet.
Shares gained as much as 6% to Rs 235.8, snapping a three-day losing streak.
Markets At 10:10 A.M.
- Benchmark indices trade near the day's high
- Nifty up 1.23% at 10,737
- Sensex up 1.1% at 36,410
- Nifty Bank up 2% at 22,285
- Nifty Midcap and Smallcap index gain 0.9%
- India Volatility Index down 0.65% to 25.6
- Nifty Pharma is the only sectoral laggard; down 0.6%
- Nifty I.T., Nifty Realty and Nifty PSU Bank gain over 1% each
- Nifty Auto and Nifty Metal up nearly 1%
- HDFC Bank is the top Nifty gainer; up 3.9%
- 41 out of the 50 Nifty constituents are gaining
- Bajaj Auto is the top Nifty laggard; down 1.4%
- 1,114 stocks on the NSE trade with gains while 574 decline
Money Market Update
The rupee opened higher for the third straight day, after posting its best weekly gain in three months.
The currency opened at 74.51 against the U.S. Dollar as compared to Friday's close of 74.65. The rupee ended as the best performing currency in Asia last week.
Within the bond markets, the domestic investors, led by lenders are piling into sovereign bonds, on optimism that the Reserve Bank of India is ready to soak up a record debt supply.
Banks raised their holdings of sovereign notes to over Rs 40,000 crore while global funds remained net sellers for the fourth straight month.
Earnings Reaction: Edelweiss Financial Services
The non-bank lender reported its first quarterly loss since at least 2008 on account of higher impairment costs.
The company reported a net loss of Rs 2,281 crore for the quarter ended March, as compared to a net profit of Rs 246.32 crore in the year ago period.
Impairment costs for the company rose Rs 2,039 crore as compared to Rs 102.61 crore in the year-ago period.
In its investor presentation, the company said that the pandemic had an impact on liquidity to the tune of Rs 4,000 crore. It also said that it is in talks to raise Rs 1,000 - 1,500 crore of equity capital in wealth and asset management. The deal is likely to be finalised in the next 6-8 weeks.
Shares fell as much as 5.1% to Rs 57.5, post the announcement.
Stock Reaction: Prism Johnson
The company's Board of Directors at a meeting held today have approved the divestment of the entire 51% share holding in Raheja QBE General Insurance Company - a material subsidiary to QORQL Pvt. Ltd.
QORQL is a technology company with a majority shareholding of Vijay Shekhar Sharma and the remaining shares are held by Paytm.
The total aggregate consideration of this deal is Rs 289.68 crore, subject to receipt of approval by the company's shareholders.
The company estimates the sale to be completed by March 31, 2021.
Shares are locked in an upper circuit of 10% at Rs 48.4.
Coronavirus India Updates
- India overtakes Russia to become the third largest Covid-19 outbreak
- 24,248 cases reported in the last 24 hours
- Total cases now at 6,97,413
- Active cases at 2,53,287
- Total number of patients who were cured / discharged / migrated at 4,24,433
- Death toll rises to 19,693
- 425 deaths reported in the last 24 hours
- 15,350 patients were cured and discharged during the last 24 hours
First Quarter Business Update: HDFC Bank
- Advances up 21% to Rs 10.04 lakh crore
- Deposits up 25% to Rs 11.89 lakh crore
- CASA Ratio as of June 30 at 40% from 39.7%
- Bank purchased loans worth Rs 1,376 crore through direct assignment route under the home loan agreement with HDFC
- All numbers are compared on a year-on-year basis
Shares gained as much as 3.36% to Rs 1,110. The stock is among the top performers on the Nifty 50 index and the top contributor to the Nifty upside.
Aiding The Nifty Gains
Opening Bell: Fourth Day Of Gains
Indian equity markets opened higher for the fourth straight day, tracking positive cues from Asia and strong trade in the U.S. futures.
The S&P BSE Sensex gained 0.8% on open at 36,313 while the NSE Nifty 50 index opened above the mark of 10,700 at 10,723, up 1.1%.
Benchmark indices had posted their fifth weekly advance in the last six weeks on Friday.
Among the sectoral indices, the Nifty Bank opened 2% higher at 22,270. The Realty index opened with gains of over 1% while the others gained between 0.5-1% in opening trade.
Broader markets moved in tandem with the benchmarks. The midcap index opened 0.7% higher while the smallcap index gained 0.8%.
Market breadth was in favour of the advances. 1,132 stocks on the NSE opened with gains while 415 opened with losses.
Latest On The Coronavirus
- Global cases cross the 11.4 million mark
- Death toll rises to 5.33 lakh
- Victoria locks down nine public towers with 3,000 residents
- World Health Organisation reports highest one-day rise in cases globally
- Iran and Indonesia see deadliest days yet
- Mexico overtook France to record the fifth highest cases
- 3,187 cases reported in Los Angeles
- 173 deaths reported in South Africa
- 516 cases reported in the U.K.; taking the tally to 2.85 lakh
- Spain declares second lockdown in few counties
Top Reads On BloombergQuint.com
Companies With Quarterly Updates
HDFC Bank
- Advances up 21% to Rs 10.04 lakh crore
- Deposits up 25% to Rs 11.89 lakh crore
- CASA Ratio as of June 30 at 40% from 39.7%
- Bank purchased loans worth Rs 1,376 crore through direct assignment route under the home loan agreement with HDFC
- All numbers are compared on a year-on-year basis
HDFC
- Profit on sale of investments at Rs 1,241 crore as compared to Rs 1,894 crore last year. This was due to the sale of 2.6 crore shares in HDFC Life.
- Gross income from dividend for the quarter at Rs 298 crore. Did not receive dividend from investment in banks or insurance companies during the quarter as per RBI regulations.
- Assigned loans amounting to Rs 1,376.
- Loans sold in the preceding 12 months amounted to Rs 18,273 crore.
IndusInd Bank
- Advances up 4% to Rs 2 lakh crore
- Deposits up 6% to Rs 2.11 lakh crore
- CASA Ratio at 40.2% from 43%
- Comparisons on a year-on-year basis
Marico
- General trade and e-commerce channels gained over modern trade due to heightened social distancing concerns.
- Reported volume decline on a year-on-year basis will be in the low teens due to significant skew of revenue and a high base in the first quarter of last year.
- Expect to bounce back and post volume and growth during the rest of the year.
- International business witnessed mid-single digit decline in constant currency terms but should recover during the course of the year. It is now clocking more than 100% of FY20 monthly average topline led by the Bangladesh business.
- Overall revenues have declined in double digits.
- Aggressive cost control, benign input costs, rationalisation of A&P spends in a few discretionary portfolios, will lead to expansion of operating margins compared to the corresponding quarter last year.
- For balance of FY21, expect operating margins to hold to a minimum of previous year levels.
National Fertilisers
- Highest ever fertiliser sale of 12.85 lakh MT during the quarter.
- Quarterly sales are 21.5% higher as compared to previous year.
- P&K Fertilisers recorded a growth of 13% during the quarter at 5.3 lakh MT
- Sold 4.59 lakh MT of fertilisers in June, up 15.5% as compared to June 2019
Sobha
- Clocked 70% of sales volume during Q1FY21 as compared to Q4FY20.
- Demand remained consistent despite pandemic-related uncertainties.
- Managed to reduce net debt and average interest cost of borrowing during the quarter.
- Reduced net debt for the second straight quarter.
- Bengaluru contributed 74% of total sales volume during Q1FY21.
- Sales volume of 6,50,400 square feet, d at Rs 488 crore.
- Average realisation during the quarter at Rs 7,498 per square feet.
Federal Bank
- Advances up 8% to Rs 1.23 lakh crore
- Total Deposits up 17% to Rs 1.54 lakh crore
- Customer deposits up 16% to Rs 1.49 lakh crore
- CASA Ratio at 32.02% from 31.44%
- Liquidity Coverage Ratio at 227.79% from 147.38%
Key Stocks In Focus
- ICICI Bank: Board to meet on July 8 to consider raising of funds. Funds can be raised via issue of equity shares and/or equity linked securities.
- Adani Ports & SEZ: Achieved a throughput of 41.5 MMT across nine operating ports in India for the quarter ended June 30. Mundra Port has become India's largest container port, surpassing the volumes of JNPT in Q1FY21. Board will also meet on July 7 to consider raising funds by issuance of U.S. Dollar denominated foreign currency bonds, for refinancing of existing borrowing and other permissible end uses. The amount should not exceed $1.25 billion on a private placement basis or otherwise.
- L&T Finance Holdings: Share purchase agreement with Proud Securities & Credits, signed in November 2019, has been mutually terminated on July 2 due to non-receipt of necessary regulatory approvals in accordance with the terms of agreement. The company had signed a share purchase agreement to sell 100% stake in L&T Capital Markets (Middle East).
- Edelweiss Financial Services: Expect to raise Rs 1,500-2,000 crore of total equity capital in FY21
- Oil India: Cumulative production loss since May 27, 2020 due to bandhs and blockades stood at 9,072 MT of Crude oil and 11.61 MMSCM of natural gas.
- Non-Nifty Earnings Today: Bodal Chemicals, Suzlon, IFB Industries, IFB Agro, NBCC, Sadbhav Infra.
To know more about key brokerage updates, earnings reported after market hours and other cues, click here.
Your Trade Setup For The Day
How Did The Fund Flows Fare On Friday
Poised For Further Gains?
Indian equity markets are set to extend gains after posting their fifth weekly advance in six on Friday.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.77% to 10,670 as of 7:50 a.m.
Markets in Asia are extending gains after a muted start, albeit on thin volumes. Markets in Japan, Hong Kong, China and South Korea traded higher, while those in Australia are underperforming.
Futures on the Dow Jones are trading 250 points higher. The benchmarks were shut on Friday on account of a holiday.
The U.S. dollar is seeing a decline along with treasuries and oil prices.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
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