Top 10 things 24 10-19

1. TOP 10
THINGS
24 October 2019

2. 1
24 October 2019
TOP 10 THINGS TO KNOW
Oil pares US stock-draw gains on weak demand outlook
Oil prices dipped on Thursday on lingering concerns about a weak demand
outlook, after surging more than 2% in the previous session on the back of a
surprise draw in US crude stocks. Brent crude futures fell 39 cents, or 0.6%, to
$60.78 a barrel by 0111 GMT. West Texas Intermediate (WTI) crude futures
dropped 46 cents, or 0.8%, to $55.51 per barrel. U.S. crude closed 3.3% higher in
the previous session.
IMF sees India FY21 GDP growth rebounding to 7%
The International Monetary Fund (IMF) sees Indian economic growth rebounding
to around 7 per cent in the next financial year, supported by measures like
monetary policy stimulus and corporate income tax cuts. “We see the Indian
economy rebounding from our projected 6.1 per cent growth this fiscal year to
something like 7 per cent in the next fiscal year (2020). We see the factors that will
support growth, including monetary policy stimulus, working their way through
the pipeline,” Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF,
told reporters.
Rupee inches up 3 paise to 70.91 versus USD
The Indian rupee rose 3 paise to close at 70.91 against the US dollar on
Wednesday amid lack of triggers and geopolitical uncertainties. Easing crude oil
prices propped up the local unit, though fresh capital outflows capped the gains,
forex traders said. Trading in emerging market currencies was subdued after
British Prime Minister Boris Johnson lost the crucial Brexit Bill timetable vote.
Investments via P-notes fall for fourth month in a row, stand at Rs
76,611 cr
Dropping for the fourth consecutive month, investments through participatory
notes (P-notes) in the Indian capital market stood at Rs 76,611 crore at the end of
September. P-notes are issued by registered foreign portfolio investors (FPIs) to
overseas investors who wish to be part of the Indian stock market without
registering themselves directly after going through a due diligence process.

3. 2
India eases fuel retail rules, allows entry of non-oil firms
India on Wednesday relaxed its rules for setting up fuel stations in the country
after a gap of 17 years, opening to non-energy companies a sector long eyed
by global oil majors. India has become a lucrative market after the government
removed controls on retail pricing of gasoline and gasoil. However, regulations
framed in 2002 had made it difficult for new players to obtain a retail licence,
such as an investment commitment of USD 282 million in the country’s oil and
gas sector.
Japan factory activity shrinks at quickest pace since 2016 in Oct:
Flash PMI
Japanese factory activity shrank at the fastest pace in over three years in
October, largely hurt by slumping new orders and output, in yet another sign
of broadening economic cracks in the face of slowing global demand and
trade frictions. The Jibun Bank Flash Japan Manufacturing Purchasing
Managers’ Index (PMI) in October contracted at the quickest pace since June
2016, slipping to 48.5 on a seasonally adjusted basis from a final 48.9 in the
previous month.
87 companies to report Sept quarter numbers today
As many as 87 companies on the BSE will declare their results for September
quarter which include names like Alembic Pharma, Aptech, Bandhan Bank,
Colgate Palmolive, Cummins India, ICRA, IDFC First Bank, InterGlobe Aviation,
ITC, Maruti Suzuki, NIIT Ltd, PNB Housing, Tata Steel, United Spirits etc. among
others.
24 October 2019
Wall Street ticks higher, but chip stocks tumble
US stocks edged higher on Wednesday as investors shrugged off lackluster
quarterly reports from industrial bellwethers Boeing Co and Caterpillar Inc,
though a lower-than-expected revenue outlook from Texas Instruments Inc sent
chipmakers' shares lower. Shares of Boeing and Caterpillar rose more than 1
percent despite significant earnings misses from both companies.

4. 3
KPIT posts Rs 36 cr net profit in September quarter
Tech firm KPIT on October 23 reported Rs 35.9 crore consolidated net
profit for the September quarter this fiscal. The company had posted
Rs 30.6 crore net profit in the preceding three-month period. Its
revenue from operations was Rs 544 crore for the quarter under
review as compared to Rs 505.7 crore in April-June 2019, according to
a regulatory filing.
Wipro named 'Global Breakthrough Partner of the Year' by Pivotal
Wipro Limited, a global information technology, consulting and
business process services company, has been named "Global
Breakthrough Partner of the Year" by Pivotal Software, Inc., a cloud-
native platform provider, at Pivotal's annual SpringOne Platform
conference in Austin, Texas. Wipro's strong investment and growth in
its Pivotal practice over the past year made it stand out to receive the
"Global Breakthrough Partner of the Year" award. Wipro's Pivotal
practice was also one of the fastest growth areas for the company
over the past 12 months.
24 October 2019

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