1. Several public sector banks like Canara Bank and Corporation Bank announced the launch of new repo rate linked loan products to comply with RBI's mandate and faster transmission of interest rate cuts.
2. SpiceJet will take four Boeing 737 MAX aircraft that were previously operated by now-defunct Jet Airways as the airline continues its expansion plans.
3. Ultra-clean BS-VI grade fuel supplies will be expanded to seven more districts in Haryana from October 1st to cover the entire National Capital Region as oil companies extend coverage nationwide in a phased manner ahead of the April 2020 deadline.
The rupee fell 68 paise against the US dollar due to rising crude oil prices after drone attacks on Saudi oil facilities. NCLAT will hear probe agencies regarding JSW Steel's plea seeking immunity after acquiring Bhushan Power and Steel. Jet Airways lenders presented to Synergy Group, the potential sole buyer of the bankrupt airline. The government exempted cash payments over Rs. 1 crore via APMCs from a 2% TDS to provide relief to the farm sector.
The document provides a summary of 10 news stories:
1. National Housing Bank has an exposure of Rs. 2,435 crore to DHFL as of March 2019.
2. Torrent Pharmaceuticals received a warning letter from the US FDA regarding its facility in Gujarat.
3. Motilal Oswal has adopted an NLG platform to generate customized multi-lingual portfolio reports.
4. A security flaw was detected on Just Dial that could allow hackers to access over 156 million user accounts.
1. The USD/INR currency pair is expected to trade sideways with a positive bias around 70.8-71.47 in the coming weeks. On Friday, USD/INR showed a recovery from lower levels and ended with an upward "Hammer" candlestick pattern, suggesting a mild bounce is likely in the coming days.
2. India's Finance Minister said there are currently no plans to revise the country's fiscal deficit target, though experts believe it will widen due to corporate tax cuts.
3. Industry leaders expect the recent reduction in corporate tax rates to boost the economy and lead to a faster turnaround, though focus is now needed on spurring demand.
The Nifty fell below 10,750 and the Sensex declined 587 points due to growing impatience with the government's promised stimulus package. Key stocks like Yes Bank, DLF, and Vedanta declined substantially. Overall market breadth was positive with 549 stocks advancing and 1,902 declining. Crude oil prices dipped due to concerns about the global economy and rising US inventories. The rupee also weakened to trade at 71.92 per dollar.
- India will invest $100 billion in energy infrastructure to meet growing energy needs and invited Saudi investment.
- RBI imposed a penalty of Rs 1 crore on Bandhan Bank for failing to reduce a shareholder's stake to 40% within 3 years as required.
- The government formed an inter-ministry committee to explore a financial bailout package for struggling telecom companies.
- Wipro set up an engineering center in Virginia, US, creating 200 new jobs.
The rupee rose to a two-week high against the US dollar on hopes of a partial US-China trade deal. Oil prices slipped on a US inventory build but were supported by possible OPEC cuts. Uday Kotak of Kotak Mahindra Bank said the economic slowdown is likely to push up credit costs for the private sector. Sebi issued rules for listing commercial paper to broaden investor participation. Demand for residential properties rose 15-30% this festive season in Tier 1 cities.
The document provides a summary of the top 10 things to know from November 7th, including:
1) Lupin plans to seek re-inspection of its Goa and Somerset plants by the USFDA by March 2020.
2) Indiabulls Housing Finance reported a 32% decline in Q2 net profit.
3) Moody's placed Yes Bank's ratings under review for a possible downgrade.
Reliance Capital will sell shares in Reliance Nippon Life Asset Management to raise over Rs 505 crore. Oil prices rose after Saudi Arabia's new energy minister confirmed commitment to output cuts. India has reservations about joining the RCEP trade agreement due to its large trade deficit with China. OYO has expanded its presence to over 500 cities across India. DSP Mutual Fund recovered its entire Rs 150 crore dues from DHFL. A private contractor was arrested for allegedly conspiring to kill the chairman of SAIL.
The rupee fell 68 paise against the US dollar due to rising crude oil prices after drone attacks on Saudi oil facilities. NCLAT will hear probe agencies regarding JSW Steel's plea seeking immunity after acquiring Bhushan Power and Steel. Jet Airways lenders presented to Synergy Group, the potential sole buyer of the bankrupt airline. The government exempted cash payments over Rs. 1 crore via APMCs from a 2% TDS to provide relief to the farm sector.
The document provides a summary of 10 news stories:
1. National Housing Bank has an exposure of Rs. 2,435 crore to DHFL as of March 2019.
2. Torrent Pharmaceuticals received a warning letter from the US FDA regarding its facility in Gujarat.
3. Motilal Oswal has adopted an NLG platform to generate customized multi-lingual portfolio reports.
4. A security flaw was detected on Just Dial that could allow hackers to access over 156 million user accounts.
1. The USD/INR currency pair is expected to trade sideways with a positive bias around 70.8-71.47 in the coming weeks. On Friday, USD/INR showed a recovery from lower levels and ended with an upward "Hammer" candlestick pattern, suggesting a mild bounce is likely in the coming days.
2. India's Finance Minister said there are currently no plans to revise the country's fiscal deficit target, though experts believe it will widen due to corporate tax cuts.
3. Industry leaders expect the recent reduction in corporate tax rates to boost the economy and lead to a faster turnaround, though focus is now needed on spurring demand.
The Nifty fell below 10,750 and the Sensex declined 587 points due to growing impatience with the government's promised stimulus package. Key stocks like Yes Bank, DLF, and Vedanta declined substantially. Overall market breadth was positive with 549 stocks advancing and 1,902 declining. Crude oil prices dipped due to concerns about the global economy and rising US inventories. The rupee also weakened to trade at 71.92 per dollar.
- India will invest $100 billion in energy infrastructure to meet growing energy needs and invited Saudi investment.
- RBI imposed a penalty of Rs 1 crore on Bandhan Bank for failing to reduce a shareholder's stake to 40% within 3 years as required.
- The government formed an inter-ministry committee to explore a financial bailout package for struggling telecom companies.
- Wipro set up an engineering center in Virginia, US, creating 200 new jobs.
The rupee rose to a two-week high against the US dollar on hopes of a partial US-China trade deal. Oil prices slipped on a US inventory build but were supported by possible OPEC cuts. Uday Kotak of Kotak Mahindra Bank said the economic slowdown is likely to push up credit costs for the private sector. Sebi issued rules for listing commercial paper to broaden investor participation. Demand for residential properties rose 15-30% this festive season in Tier 1 cities.
The document provides a summary of the top 10 things to know from November 7th, including:
1) Lupin plans to seek re-inspection of its Goa and Somerset plants by the USFDA by March 2020.
2) Indiabulls Housing Finance reported a 32% decline in Q2 net profit.
3) Moody's placed Yes Bank's ratings under review for a possible downgrade.
Reliance Capital will sell shares in Reliance Nippon Life Asset Management to raise over Rs 505 crore. Oil prices rose after Saudi Arabia's new energy minister confirmed commitment to output cuts. India has reservations about joining the RCEP trade agreement due to its large trade deficit with China. OYO has expanded its presence to over 500 cities across India. DSP Mutual Fund recovered its entire Rs 150 crore dues from DHFL. A private contractor was arrested for allegedly conspiring to kill the chairman of SAIL.
HCL Technologies launches dedicated Google Cloud business unit to accelerate cloud adoption worldwide. India will appeal a WTO panel ruling that held its export incentive schemes are inconsistent with global trade norms. SEBI directs listed banks to disclose any bad loan provisioning divergence within 24 hours of receiving RBI's risk assessment report. Airtel slashes broadband plan prices by up to 10% and loads additional data.
Boris Johnson sent an unsigned letter to the EU requesting a Brexit extension as required by law, though he wants to leave by the October 31 deadline.
Thomas Cook India's domestic leisure business is growing at 25% annually, outpacing its outbound segment, and it does not expect the collapse of UK's Thomas Cook to impact its operations.
Shree Cements' September 2019 net sales were up 5.22% year-over-year to Rs 3,004.45 crore, while net profit increased 414.1% to Rs 310.62 crore over the same period.
1. SEBI has permitted mutual funds to create segregated portfolios of unrated debt instruments subject to certain conditions.
2. DLF reported a 19% rise in Q2 profit to Rs. 445 crore and appointed Vivek Anand as group CFO.
3. Cipla expects to end the fiscal year with gross margins of 65-66% and EBITDA margins of 18-20% led by new launches in the second half.
- Gold imports to India dipped 9% during April-October 2019, helping narrow the trade deficit.
- After Jet Airways shut down, Lufthansa plans to strengthen partnerships with Indian airlines like Vistara and Air India in 2020.
- A report recommends that Indian public sector enterprises bid for international projects as a consortium to enhance their global reach.
The document provides a summary of the top 10 things to know from 30 September 2019. It includes the following key points:
1. JSPL aims to reduce its net debt by over Rs. 10,000 crore to below Rs. 30,000 crore in the next two years.
2. The RBI had reportedly recommended removing the chairman of PMC Bank in 2018 for sanctioning irregular loans to HDIL.
3. The IPO of IRCTC will open for subscription on September 30.
4. Coal unions will meet on September 30 to review the impact of recent strikes and decide the next steps.
The document provides a summary of the top 10 news stories from 18 November 2019. The stories include:
1) NBCC sweetening its bid to acquire Jaypee Infratech by offering more land and flats to lenders.
2) The Economic Offences Wing conducting a search at the residence of Rajneet Singh, who was arrested in connection with the PMC Bank scam.
3) The government considering re-introducing restrictions on royalty payments for technology transfers due to high outflows.
HDFC Life Insurance recommends buying shares of HDFC Life Insurance Company Ltd. The target price is Rs. 600 within 5 months. In Q1 FY2020, HDFC Life reported strong growth in gross premium income of 29.2% driven by growth in first year premiums. Margins improved significantly year-over-year with new business margin up 560bps and profit after tax growth of 11.7%.
The document provides a summary of 10 news stories:
1. Oil prices dipped on concerns about weak demand outlook despite a surprise draw in US crude stocks.
2. The IMF forecasts India's GDP growth will rebound to around 7% in the next fiscal year, supported by monetary stimulus and tax cuts.
3. The Indian rupee rose slightly against the US dollar due to easing oil prices but foreign capital outflows limited gains.
The document provides a summary of 10 news stories:
1. DDA relaxed norms for household industrial units in Delhi and raised the limit for residential plot amalgamation.
2. SAIL reported a loss of Rs. 342.84 crore for the July-September quarter due to lower demand and prices.
3. Future Retail's net profit declined 6.92% to Rs. 165.08 crore for the second quarter despite higher revenues.
4. CCI approved Adani Properties' acquisition of a 23.5% stake in Mumbai International Airport.
BPCL reported a 4.1% increase in Q1FY20 revenue driven by higher volumes. However, profitability declined due to lower refining margins and higher inventory losses. While demand outlook remains subdued, the company is expected to benefit from its strong retail network and higher refinery utilization. It plans to set up 6000 new retail outlets over 3 years and capex of Rs. 87 billion in FY20. Analysts have cut FY20 earnings forecasts due to high inventory losses but maintained target price of Rs. 412 based on valuation of core business and investments.
The document provides a summary of 10 news stories:
1) Reliance Industries increases its stake in Future101 Design to 17.5%.
2) HDFC acquires a 9.89% stake in Bandhan Bank as part of a merger scheme.
3) Credit rating agency Care downgrades ratings for Vodafone Idea's bank facilities and bonds due to a recent court ruling on telecom dues.
Crude oil inventories in the US saw an unexpected build according to the API, rising against analyst expectations of a draw. This led oil prices to plunge on Tuesday. Meanwhile, gold prices rose ahead of the expected Fed interest rate cut. Base metal prices on the Shanghai Futures Exchange were mostly down but stable overall as investors awaited the outcome of the FOMC meeting.
1. MTNL sets a December 3 deadline for employees to opt for a voluntary retirement scheme based on the Gujarat model.
2. The ED is investigating DHFL and has called Kapil Wadhawan for clarification, and summoned Dheeraj Kundra again this week regarding late drug trafficker Iqbal Mirchi's properties.
3. SEBI issued clarifications stating that listed Indian firms' employee trades of ADRs and GDRs, including those of foreign nationals, must follow insider trading regulations.
- Bank of Maharashtra filed a police complaint against the spreading of fake news and rumours about its financial health on social media platforms and WhatsApp.
- Karnataka Bank's Q2 net profit fell 5.3% to Rs 105.91 crore as bad loans increased marginally.
- SEBI issued a new cybersecurity framework for KYC Registration Agencies in response to concerns over possible data breaches.
The document summarizes the Asian Development Bank's revised outlook for the Indian economy in fiscal years 2019 and 2020. It reports that growth is now expected to be 6.5% in FY2019, down from the previous forecast of 7%, due to weaker growth in the first quarter. It also predicts growth of 7.2% in FY2020, unchanged from the previous forecast, expecting a recovery in domestic demand and investment.
- Gold prices traded in a narrow range as market participants awaited the Fed meeting where an interest rate cut is expected. The comments from the Fed chairman will be important to watch.
- Crude oil prices fell over 6% after Saudi officials said oil supply had been restored, but markets remain nervous about potential future disruptions. EIA oil inventory data is due today.
- Base metal prices are under pressure due to weak Chinese data fueling demand concerns, though some metals like lead and zinc rose on mine supply disruptions.
E-commerce companies in India are expected to see sales of up to $6 billion during the upcoming festive season, according to consulting firm RedSeer. In the first phase of festive sales, companies saw sales of close to $3 billion, up 30% from the previous year. A drug manufacturing facility of Bliss GVS Pharma in India cleared an inspection by the USFDA. The domestic steel industry has asked the government to continue imposing anti-dumping duties on certain steel products imported from China, Malaysia, and South Korea. Fintech startup Shubh Loans received a license from the RBI to set up a non-banking financial company.
- Yes Bank filed a complaint with Mumbai Police against fake news on social media about the bank's financial health, which has seen its stock price decline recently.
- A former chairman of the PMC Bank that collapsed due to an alleged fraud of Rs 4,355 crore was remanded in police custody until October 9.
- JSW Steel remains cautiously optimistic about demand improving due to recent government measures and the festive season, though the sector has struggled with a slowdown.
This document provides a summary of the top 10 news stories of the day from 9 September 2019. The stories include:
1) RTI response revealing 2,480 fraud cases involving Rs. 32,000 crore impacted 18 public sector banks in the first quarter, with SBI the most impacted.
2) Flipkart signing an MOU to help artisans and craftsmen in Jharkhand set up online businesses.
3) PNB putting 11 NPA accounts up for sale to recover over Rs. 1,234 crore in dues.
4) SBI seeking issuance of 147 Look Out Circulars in the last 5 months for bank fraud cases.
5)
HCL Technologies launches dedicated Google Cloud business unit to accelerate cloud adoption worldwide. India will appeal a WTO panel ruling that held its export incentive schemes are inconsistent with global trade norms. SEBI directs listed banks to disclose any bad loan provisioning divergence within 24 hours of receiving RBI's risk assessment report. Airtel slashes broadband plan prices by up to 10% and loads additional data.
Boris Johnson sent an unsigned letter to the EU requesting a Brexit extension as required by law, though he wants to leave by the October 31 deadline.
Thomas Cook India's domestic leisure business is growing at 25% annually, outpacing its outbound segment, and it does not expect the collapse of UK's Thomas Cook to impact its operations.
Shree Cements' September 2019 net sales were up 5.22% year-over-year to Rs 3,004.45 crore, while net profit increased 414.1% to Rs 310.62 crore over the same period.
1. SEBI has permitted mutual funds to create segregated portfolios of unrated debt instruments subject to certain conditions.
2. DLF reported a 19% rise in Q2 profit to Rs. 445 crore and appointed Vivek Anand as group CFO.
3. Cipla expects to end the fiscal year with gross margins of 65-66% and EBITDA margins of 18-20% led by new launches in the second half.
- Gold imports to India dipped 9% during April-October 2019, helping narrow the trade deficit.
- After Jet Airways shut down, Lufthansa plans to strengthen partnerships with Indian airlines like Vistara and Air India in 2020.
- A report recommends that Indian public sector enterprises bid for international projects as a consortium to enhance their global reach.
The document provides a summary of the top 10 things to know from 30 September 2019. It includes the following key points:
1. JSPL aims to reduce its net debt by over Rs. 10,000 crore to below Rs. 30,000 crore in the next two years.
2. The RBI had reportedly recommended removing the chairman of PMC Bank in 2018 for sanctioning irregular loans to HDIL.
3. The IPO of IRCTC will open for subscription on September 30.
4. Coal unions will meet on September 30 to review the impact of recent strikes and decide the next steps.
The document provides a summary of the top 10 news stories from 18 November 2019. The stories include:
1) NBCC sweetening its bid to acquire Jaypee Infratech by offering more land and flats to lenders.
2) The Economic Offences Wing conducting a search at the residence of Rajneet Singh, who was arrested in connection with the PMC Bank scam.
3) The government considering re-introducing restrictions on royalty payments for technology transfers due to high outflows.
HDFC Life Insurance recommends buying shares of HDFC Life Insurance Company Ltd. The target price is Rs. 600 within 5 months. In Q1 FY2020, HDFC Life reported strong growth in gross premium income of 29.2% driven by growth in first year premiums. Margins improved significantly year-over-year with new business margin up 560bps and profit after tax growth of 11.7%.
The document provides a summary of 10 news stories:
1. Oil prices dipped on concerns about weak demand outlook despite a surprise draw in US crude stocks.
2. The IMF forecasts India's GDP growth will rebound to around 7% in the next fiscal year, supported by monetary stimulus and tax cuts.
3. The Indian rupee rose slightly against the US dollar due to easing oil prices but foreign capital outflows limited gains.
The document provides a summary of 10 news stories:
1. DDA relaxed norms for household industrial units in Delhi and raised the limit for residential plot amalgamation.
2. SAIL reported a loss of Rs. 342.84 crore for the July-September quarter due to lower demand and prices.
3. Future Retail's net profit declined 6.92% to Rs. 165.08 crore for the second quarter despite higher revenues.
4. CCI approved Adani Properties' acquisition of a 23.5% stake in Mumbai International Airport.
BPCL reported a 4.1% increase in Q1FY20 revenue driven by higher volumes. However, profitability declined due to lower refining margins and higher inventory losses. While demand outlook remains subdued, the company is expected to benefit from its strong retail network and higher refinery utilization. It plans to set up 6000 new retail outlets over 3 years and capex of Rs. 87 billion in FY20. Analysts have cut FY20 earnings forecasts due to high inventory losses but maintained target price of Rs. 412 based on valuation of core business and investments.
The document provides a summary of 10 news stories:
1) Reliance Industries increases its stake in Future101 Design to 17.5%.
2) HDFC acquires a 9.89% stake in Bandhan Bank as part of a merger scheme.
3) Credit rating agency Care downgrades ratings for Vodafone Idea's bank facilities and bonds due to a recent court ruling on telecom dues.
Crude oil inventories in the US saw an unexpected build according to the API, rising against analyst expectations of a draw. This led oil prices to plunge on Tuesday. Meanwhile, gold prices rose ahead of the expected Fed interest rate cut. Base metal prices on the Shanghai Futures Exchange were mostly down but stable overall as investors awaited the outcome of the FOMC meeting.
1. MTNL sets a December 3 deadline for employees to opt for a voluntary retirement scheme based on the Gujarat model.
2. The ED is investigating DHFL and has called Kapil Wadhawan for clarification, and summoned Dheeraj Kundra again this week regarding late drug trafficker Iqbal Mirchi's properties.
3. SEBI issued clarifications stating that listed Indian firms' employee trades of ADRs and GDRs, including those of foreign nationals, must follow insider trading regulations.
- Bank of Maharashtra filed a police complaint against the spreading of fake news and rumours about its financial health on social media platforms and WhatsApp.
- Karnataka Bank's Q2 net profit fell 5.3% to Rs 105.91 crore as bad loans increased marginally.
- SEBI issued a new cybersecurity framework for KYC Registration Agencies in response to concerns over possible data breaches.
The document summarizes the Asian Development Bank's revised outlook for the Indian economy in fiscal years 2019 and 2020. It reports that growth is now expected to be 6.5% in FY2019, down from the previous forecast of 7%, due to weaker growth in the first quarter. It also predicts growth of 7.2% in FY2020, unchanged from the previous forecast, expecting a recovery in domestic demand and investment.
- Gold prices traded in a narrow range as market participants awaited the Fed meeting where an interest rate cut is expected. The comments from the Fed chairman will be important to watch.
- Crude oil prices fell over 6% after Saudi officials said oil supply had been restored, but markets remain nervous about potential future disruptions. EIA oil inventory data is due today.
- Base metal prices are under pressure due to weak Chinese data fueling demand concerns, though some metals like lead and zinc rose on mine supply disruptions.
E-commerce companies in India are expected to see sales of up to $6 billion during the upcoming festive season, according to consulting firm RedSeer. In the first phase of festive sales, companies saw sales of close to $3 billion, up 30% from the previous year. A drug manufacturing facility of Bliss GVS Pharma in India cleared an inspection by the USFDA. The domestic steel industry has asked the government to continue imposing anti-dumping duties on certain steel products imported from China, Malaysia, and South Korea. Fintech startup Shubh Loans received a license from the RBI to set up a non-banking financial company.
- Yes Bank filed a complaint with Mumbai Police against fake news on social media about the bank's financial health, which has seen its stock price decline recently.
- A former chairman of the PMC Bank that collapsed due to an alleged fraud of Rs 4,355 crore was remanded in police custody until October 9.
- JSW Steel remains cautiously optimistic about demand improving due to recent government measures and the festive season, though the sector has struggled with a slowdown.
This document provides a summary of the top 10 news stories of the day from 9 September 2019. The stories include:
1) RTI response revealing 2,480 fraud cases involving Rs. 32,000 crore impacted 18 public sector banks in the first quarter, with SBI the most impacted.
2) Flipkart signing an MOU to help artisans and craftsmen in Jharkhand set up online businesses.
3) PNB putting 11 NPA accounts up for sale to recover over Rs. 1,234 crore in dues.
4) SBI seeking issuance of 147 Look Out Circulars in the last 5 months for bank fraud cases.
5)
The document provides a summary of the top 10 things to know from 06 November 2019. It includes the following key points:
1. The Finance Minister reiterated the government's commitment to reform cooperative banks in the wake of the PMC Bank crisis.
2. The Adani Group sought court approval to complete its purchase of a 13.5% stake in Mumbai airport from Bidvest before the deadline.
3. SEBI issued new guidelines for foreign portfolio investors and designated depository participants to facilitate the implementation of new FPI regulations.
- The document provides a summary of the top 10 things to know from various markets and news sources on August 28, 2019.
- US markets slipped on recession worries from an inverted Treasury yield curve and uncertainty in US-China trade talks. Asian shares saw minor gains on higher US futures.
- The Indian rupee had its biggest single-day gain in over 5 months boosted by the RBI's transfer of funds to the government. The mutual fund industry aims to increase assets under management four-fold over the next decade.
Reliance Capital defaults on two NCD payments that were due on October 16th and 17th. CARE Ratings had downgraded Reliance Capital's entire debt to default rating on September 20th. The IMF and World Bank see a Brexit deal boosting global growth outlook. Oil prices fell on higher US crude stockpiles and weak economic figures, though lower fuel inventories helped offset the decline. Zee Entertainment reported a 2% growth in advertising revenue in Q2FY20, beating the industry trend of muted ad growth.
The document provides a summary of 10 news stories:
1) Hanung Toys promoter detained at airport due to unpaid debts of Rs 2,300 crore to banks led by PNB.
2) Real estate builders want consumer complaints heard by RERA before insolvency proceedings due to many bankruptcy cases against builders.
3) Yes Bank aims to raise $1.2 billion by December from new investors who may get board representation.
1. Three IL&FS group companies - Moradabad Bareilly Expressway, Jharkhand Road Projects Implementation Company, and West Gujarat Expressway - have moved from the amber list to the green list after signing term sheets with lenders to repay debts worth Rs. 5,071 crore.
2. The Cabinet will soon decide on the proposed vehicle scrapping policy, which the Road Transport and Highways Minister has cleared and received finance ministry approval for.
3. The RBI Governor expressed hope that the ongoing crisis in Saudi Arabia increasing crude oil prices will have a limited impact on inflation and fiscal numbers in India.
Wipro has bagged a $300 million, 7-year contract from ICICI Bank to provide services through its artificial intelligence platform. The RBI has asked banks to link all new floating rate loans to external benchmarks like the repo rate for faster transmission of rate cuts. Despite policy changes, FPI flows into India are expected to remain subdued in the near to medium term according to a report. The auto industry faces a difficult rest of the year due to the transition to stricter BS-VI emission norms.
The document provides a summary of the top 10 news stories from 11 November 2019. The summaries are:
1. The Finance Minister said a new book on global finance suggests solutions for challenges facing the world economy and Indian economy.
2. Infosys is looking to strengthen its investigation into whistleblower allegations against executives by appointing additional law firms.
3. The Environment Ministry approved IOCL's plan to set up a Rs. 766 crore 2G ethanol plant in Panipat, Haryana.
The document provides a summary of the top 10 news stories from 15 October 2019. The key points are:
1) Russia and Saudi Arabia signed deals to bolster cooperation between their oil giants as Putin visited Saudi Arabia.
2) Countries negotiating the RCEP trade agreement have identified 14 outstanding issues to resolve by October 22 to conclude talks.
3) Indiabulls Housing Finance is considering a share buyback pending regulatory approval.
4) The Reserve Bank of India has asked banks to have board-approved policies for investing in infrastructure investment trusts.
Gold prices edged up as weak US data rekindled fears of an economic slowdown. Brexit developments will be important as the outcome could impact metal prices. Crude oil rose after an EIA report showed declines in gasoline and distillate fuel inventories, though crude inventories increased. Base metals traded flat to negative due to worries about slowing global economic growth and the US-China trade dispute.
Gold prices were flat after the Fed cut rates but commentary was not as dovish as expected. The BOJ and BOE left rates unchanged due to global uncertainty. Brent rose over 2% due to concerns over longer Saudi supply shortfalls. Natural gas fell sharply below support despite storms. Base metals traded firmly supported by US data and a widening nickel market deficit.
Union Bank of India has sanctioned loans worth Rs 3,000-4,000 crore in the first phase of the government's credit outreach program. Indiabulls Housing Finance has filed a criminal complaint against certain individuals for allegedly spreading false news about the company. State-run Nalco said coal shortages have severely impacted its aluminium production, with three units of its power plant shut down and a fourth expected to shut down due to lack of coal.
The World Bank has revised down its price forecasts in line with subdued global growth. Crude oil prices fell 8% in the third quarter despite attacks on Saudi oil infrastructure, and almost all major commodity price indexes declined due to slowing global demand from trade tensions, weak trade, slowing manufacturing and lower output growth. Global oil consumption is projected to grow by 1% in 2019, with non-OECD countries accounting for all the increase and China alone half the rise, while OECD consumption is expected to remain flat.
This document provides stock picks and sector developments for the 4th week of December 2019. It recommends buying three stocks - Auro Pharma at 473, Cadila Healthcare at 260, and M&M at 540 - with potential target prices. It also includes sector news updates on banking, media, energy, IT, and pharma. Charts are provided analyzing the technical patterns for the recommended stock purchases. The document ends with a disclaimer about the information provided.
Gold prices were little changed after the US Federal Reserve cut interest rates by 25 basis points as expected. The Fed commentary was seen as less dovish than anticipated. Crude oil prices continued to fall as Saudi Arabia said it had restored 40% of lost capacity and expected to fully restore production by the end of the month. Base metal prices declined due to a stronger US dollar and ongoing geopolitical risks in the Middle East.
The document provides a summary of the top 10 news stories from 22 October 2019. The key points are:
1) British PM Boris Johnson was denied a second vote on his Brexit deal in parliament ahead of the October 31 deadline.
2) NBFCs and HFCs raised Rs. 2.36 lakh crore over the past year through loan securitization and assignments.
3) AU Small Finance Bank reported an 89% rise in Q2 net profit to Rs. 172 crore due to lower costs.
Gold prices dipped slightly on Monday due to easing tensions between the US and China over trade. Rising geopolitical tensions had previously pushed investors toward safe haven assets like gold. While the US imposed additional tariffs on China and vice versa, comments from Trump and China eased concerns slightly. Oil prices also fell as demand worries persist due to the trade tensions. Base metal prices may find support as tensions eased, with both countries expressing optimism for a possible deal. The report provides trading recommendations and outlooks for various commodities.
This document provides a summary of key economic data being released during the week of March 9-14, 2020. It lists the date, time, and country/region that the economic indicator is being released for, along with the specific indicator such as consumer confidence, GDP, manufacturing PMI, etc. There is also a disclaimer at the end related to the information provided and legal terms of using the website.
The document provides a report on gold and silver prices and analysis from the MCX (Multi Commodity Exchange) on March 21, 2020.
The 3 sentence summary is:
Gold prices on the MCX rose 0.75% to Rs. 40,129 per 10 grams as speculators created new positions amid a firm global trend, while silver prices soared Rs. 914 to Rs. 36,016 per kg as participants widened bets due to a firm global trend. The report provides technical analysis and recommendations to sell gold at Rs. 38,400 and silver at Rs. 33,047 based on support and resistance levels.
The document provides details of an option trading strategy for Ultratech Cement. It recommends buying 3400 call options of Ultratech Cement at Rs. 299 with a lot size of 200, maximum loss of Rs. 63,100, and unlimited profit potential. The strategy rationale is that Ultratech Cement has broken resistance and sustained above that level, indicating a high probability of the stock price rising further.
- The USD was higher against the INR on Friday after the Indian Prime Minister announced a nationwide curfew on Sunday to combat the spread of coronavirus.
- USD/INR was trading at 75.15, up 0.50% for the day. The research recommendation was to buy USD/INR at 75.24 with a target of 76.5 and stop loss of 74.2.
- The document provided a technical analysis of USD/INR along with a research recommendation for trading the currency pair.
The document provides analysis and recommendations on the Indian stock market and some specific stocks. It discusses key support and resistance levels for indexes like Nifty and Bank Nifty. It provides both short term and medium term buy recommendations for stocks like Reliance, Tata Steel, and Maruti among others. The document also summarizes global market conditions and movements in crude oil prices.
Silver, gold and crude oil futures prices rose on Friday according to the commodity snapshot document. Natural gas markets fluctuated after rising on Thursday. Nickel futures also gained on Friday due to rising demand. The aluminum industry may see reduced production and loads due to the automotive sector slowing down as a result of the coronavirus crisis in Germany and Europe. Rubber prices declined as tyre makers and domestic stockists were not interested in increasing commitments.
- The document provides a sector-wise breakdown of the movement in the Indian stock market on March 21, 2020. Most sectors saw gains ranging from 3.4% to 10.1%.
- It also lists support and resistance levels for the Nifty and Bank Nifty indexes. Foreign and domestic institutional investor activity is shown for the past few days.
- The indexes saw gains on March 20 on hopes of a government stimulus and positive global cues, breaking a four-day losing streak. However, the market remains sell-on-rally due to coronavirus pessimism.
JSW Steel is an Indian steel company and one of the fastest growing in India. It has a footprint in over 140 countries. JSW Steel is India's second largest private sector steel company with an installed capacity of 18 MTPA. The document provides a rating of "Buy" for JSW Steel with a target price of INR 250 and discusses the company's financial performance, growth, capacity expansion plans, and valuation compared to peers.
- The stock market indices in India ended lower for the fourth consecutive session on March 19 due to concerns over the COVID-19 pandemic and its economic impact. The Sensex closed down 581 points and Nifty fell 205 points.
- The economic impact of the COVID-19 pandemic is being felt globally via supply chain disruptions and a slowdown in demand as more countries implement lockdowns and social distancing measures. This will likely weaken the global economy in the first half of 2020.
- The effects of the pandemic are expected to be prolonged, with supply chain disruptions in China gradually easing by mid-April but the impact on travel and tourism likely lasting until June. Weak demand from lockdowns
- Gold futures rose on Friday due to safe haven demand amid the accelerated spread of COVID-19, lower US equities, and a weaker US dollar.
- The Dow Jones fell 0.8% and the US Dollar Index fell 0.25%, both lending support to gold prices.
- Silver markets also rallied, piercing the $13 level and looking to build a base as the market has been oversold, though industrial demand for silver will be negatively impacted by the pandemic.
Sector weekly perfomance 21 st mar - 2020stockquint
This document provides a weekly sector performance report covering several industries in India. It discusses how the continued spread of COVID-19 is negatively impacting the automobile sector through supply chain disruptions from China and potential declines in demand. It also notes challenges for the banking sector from the pandemic's economic effects. The FMCG sector continues to see a slowdown, especially in rural areas. The pharmaceutical industry may need to reduce dependence on China for active pharmaceutical ingredients. The NBFC, oil and gas, and stressed asset management sectors are also addressed.
Derivative weekly report 21 st mar - 2020stockquint
The document provides analysis of the Indian stock market and recommends buying Hindustan Unilever Limited futures. It analyzes technical indicators for the Nifty 50 index and Bank Nifty index, noting support and resistance levels. It also discusses currency movements between the Indian rupee and US dollar. Open interest data for various securities is presented.
- Several key sectors saw declines last week, with the BSE PSU index falling -133.2 points and the BSE Bankex index declining -236.68 points.
- The Nifty index failed to break above previous highs and closed the week down 32.6 points at 12,080.85. Technical indicators suggest the potential for further declines in the short term.
- Mobile carriers including Vodafone Idea were ordered to pay thousands of crores in dues following a Supreme Court ruling. Official macroeconomic data will be monitored for signs of economic revival.
This document provides a weekly sector analysis and stock picks for the third week of February 2020. It includes:
- A performance summary of various sectors for the week.
- Potential stock picks to buy or sell for the week, including entry prices and targets.
- A discussion of developments in sectors such as banking, auto, energy, and telecom.
This document provides a summary of key economic data being released for the week of February 24, 2020 to February 29, 2020 from various countries including New Zealand, Eurozone, Australia, Canada, China, and the United States. It also includes disclaimers about investment risks and responsibilities for the information provided.
- The weekly market report provides an overview of the performance of key indices like Nifty and Bank Nifty for the week ending February 20, 2020. Nifty ended the week lower by 32 points at 12,080 levels while Bank Nifty closed lower by 287 points at 30,942 levels.
- Most sectors ended in red for the week with auto, metal and PSU banking indices falling the most. IT was the only sector in green, gaining over 1%. Foreign institutional investors were net sellers in the cash market during the week.
- Going forward, analysts will monitor official economic data for signs of recovery in the slowing Indian economy. The report provides technical levels for the indices along with details of sector performances.
1. The Sensex closed up 428 points and the Nifty closed up 133 points, with both indices breaking a four-day losing streak.
2. On the Nifty, gainers included Bharti Infratel, Grasim Industries, Coal India, HUL and Zee Entertainment. Losers included Tata Motors, JSW Steel, Sun Pharma, TCS and Bharti Airtel.
3. The short term resistance for the Nifty is expected at 12,250 with support at 12,000, while the RSI showed a rise reaching 51 levels.
1) Bajaj Finance beat analyst estimates with its Q3 profit rising 52.2% YoY to Rs. 1,614 crore and net interest income increasing 41.4% YoY. Provisions increased sharply by 83% YoY and 40% QoQ.
2) The stock recommendation is to buy Bajaj Finance at Rs. 4780 with price targets of Rs. 5000 within 15 days as the price is trading above the 50 and 200 day moving averages and MACD is showing a bullish crossover.
3) The company added 182 new locations in Q3FY20 taking its total geographic presence to 2,179 locations in India as of December 31, 2019.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
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2. 1
1 October 2019
TOP 10 THINGS TO KNOW
Canara, Corporation Bank, others introduce repo linked loan
products
Rushing to meet the RBI deadline of October 1, many public sector lenders
like Canara and Corporation Bank announced launch of repo rate linked lending
rate for faster transmission of interest rate cut to borrowers. Earlier this month,
the Reserve Bank of India (RBI) made it mandatory for banks to link their retail
and MSME loans to external interest rate benchmarks effective October 1 for
faster transmission of rate cut to borrowers.
SpiceJet to take four 737 MAX planes of Jet Airways
SpiceJet will take four Boeing 737 MAX planes that were operated by now-defunct
Jet Airways, as the no-frills airline continues with its expansion plans. The airline
has inked a pact for leasing the four MAX aircraft, SpiceJet Chairman and
Managing Director Ajay Singh told shareholders at the company's annual general
meeting here on Monday, according to a source. SpiceJet has grounded its 13 MAX
aircraft and globally, these planes have been barred from flying since March this
year in the wake of two deadly crashes involving the aircraft.
BS-VI grade fuel supplies cover NCR
Ultra-clean BS-VI grade petrol and diesel supplies will expand to seven more
districts of Haryana from October 1 to cover the entire national capital region as
oil companies extend the fuel coverage to all over the country in a phased
manner. While the country will leapfrog from the current BS-IV grade fuel to BS-
VI, which have emission standards equivalent to Euro-VI fuel, from April 1, 2020,
state-owned oil firms began supplying the ultra-clean fuel in the national capital
in April last year.
Cadila inks pact to sell rights of cholesterol lowering drug in US, Canada
to Medicure
Cadila Healthcare on Monday said it has inked a pact to sell rights of its cholesterol lowering
product Zypitamag in the US and Canada markets to Medicure lnc for a total consideration of
$7 million. Canada-headquartered Medicure had earlier acquired US marketing rights for the
product with a profit-sharing arrangement with Cadila.
3. 2
CG Power CEO KN Neelkant resigns
CG Power and Industrial Solutions on September 30 said Managing
Director and Chief Executive Officer KN Neelkant has tendered his
resignation "orally" at the board meeting and the resignation has
been accepted by the board. The CG Power board had earlier asked
Neelkant to go on leave pending probe into some dubious deals.
Neelkant was appointed by Gautam Thapar-led Avantha Group as MD
and CEO of CG Power in March 2016.
Fiscal deficit reaches over 78% at Rs 5.54 lakh crore till August end
The country's fiscal deficit touched Rs 5.54 lakh crore at the end of
August, which was 78.7 per cent of the Budget Estimate for 2019-20,
official data showed on Monday. In absolute terms, the fiscal deficit
or the gap between expenditure and revenue was Rs 5,53,840 crore
as on August 31, according to the data released by the Controller
General of Accounts (CGA).
Payment app TWID raises Rs 10 crore through seed funding round
TWID, a digital payment app, announced that it has secured Rs 10 Cr
from SCV LLC, a family-owned business of tech entrepreneurs, as part
of their seed round of funding. TWID is a futuristic payment app that
seamlessly pools multiple loyalty/reward points of banks, retail,
entertainment, F&B, travel, etc. and enables the consumers to
seamlessly access and redeem them.
1 October 2019
Oil drops as Saudi eyes non-military solution to Iran crisis
Oil prices fell more than one percent Monday after Saudi Arabia's de facto leader
said war with Iran would destroy the world economy and hinted instead at a non-
military solution. Washington, Riyadh, Berlin, London and Paris blame Iran for
attacks that damaged the Saudi oil sector on September 14 and forced the
world's largest crude exporter to sharply reduce production.
4. 3
Montecarlo files fresh IPO papers with Sebi
Construction company Montecarlo Ltd has filed fresh IPO papers with
capital markets regulator Sebi to raise an estimated Rs 550 crore. The
initial public offer (IPO) comprises fresh issuance of shares worth Rs
450 crore, besides an offer for sale of up to 30 lakh equity stocks by
existing shareholder Kanubhai M Patel Trust, as per the draft papers.
The company may consider a pre-IPO placement for an aggregate
amount not exceeding Rs 100 crore.
Rupee retreats 31 paise to 70.87 against USD
The Indian rupee declined 31 paise to close at 70.87 against the US
dollar on Monday amid rising demand for the greenback vis-a-vis
other currencies overseas, even as crude oil prices eased. Forex
traders said globally risk appetite has plunged as US-China trade
concerns continue to linger. Besides, selling in domestic equities and
unabated foreign fund outflows also weighed on the local unit. At the
interbank foreign exchange market, the rupee opened on a strong
note at 70.37, then lost ground and fell to an intra-day low of 70.88
against the American currency.
1 October 2019
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