News Roundup and Market Update: 22/10/21

News Roundup

▫️ India has crossed 1 billion vaccination mark. 30% of the population is now fully vaccinated, while 75% have received their first dose.

▫️PM Gati Shakti Plan received Cabinet approval.

▫️ Amazon has moved to Supreme Court after receiving favourable judgement from Singapore court, against Future Retail – RIL deal.

▫️ Bombay High Court has asked Zee to call EGM, as demanded by Invesco.

▫️Coal crisis has eased in power plants due to rapid supplies and reduced power demand, as a result of drop in temperature.

▫️JSW Steel posted highest ever quarterly revenue and profit in Q2, beating street estimates.

▫️ICRA expects India’s Q2 GDP growth at 7.7%.

▫️ Dearness allowance for central government employees has been hiked to 31% from 28%.

▫️ India has set textile export target of $ 1 billion in next 5 years.

▫️ Solar panel prices have increased by 23% in last 2 months.

▫️ Govt. to inject fresh capital in PSU Banks in Q4.

▫️TVS Motor posted 42% rise in net profit to ₹278 crores, y-o-y (beating street estimates).

▫️Asian Paints recorded 29% fall in net profit to ₹605 crores, owing to high input costs. (Disappointing result)

▫️IDBI Bank reported 75% increase in net profit to ₹567 crores, y-o-y.

▫️LIC Housing Finance recorded 69% decline in net profit to ₹248 crores, due to higher provisioning.

▫️S&P Global upgrades ratings of Tata Steel, Tata Motors and JLR.

▫️Jio and British Petroleum to jointly open their 1st petrol pump in Mumbai.

▫️Tata Chemicals to sell their US ash soda business for $ 1 billion.

▫️ Telecom industry AGR up by 5.7% to ₹51,335 crores in Apr-Jun.

▫️Kotak Bank partnered with Pine Labs to expand its merchant and POS business.

▫️Indian Hotel Company to acquire 40% stake in Roots Corporation which owns Ginger brand of hotels.

▫️ Smartphone shipments by Samsung in India fell by 5% in September quarter.

▫️US weekly jobless claims hit 19 month low.

▫️ Russian city Moscow to reinforce lockdown, because of surging infections.

▫️FPIs have turned net sellers in Indian debt markets after 2 months.

▫️PM to address nation at 10 AM today. (May talk about 1 billion vaccination milestone)

Market Update

▫️ Indian markets continue to face the heat, on account of lackluster corporate earnings, negative global cues and stretched valuations.

▫️Sensex dropped by 0.55% to end at 60,293.50. Nifty fell by 0.48% to close at 18,178.

▫️Market breadth improved slightly in comparison to last 2 days, with 797 advances, against 1,009 declines. Midcap and Smallcap cap indices fell in line with the benchmark.

▫️ IT, Metal, Realty, Consumption and Consumer Durables fell the most. Whereas, Financial Services, Banking Sector and Auto helped the markets in restricting the fall.

▫️Ruppee ended flat, with a gain of 1 paisa at 74.87.

▫️Gold prices slightly and slipped below ₹47,500 mark.

▫️ Crude prices remain range bound taking cues from weak global growth offset by fuel shortage.

▫️Dow Jones ended flat yesterday, taking cues from mixed earnings report.

▫️Today morning, US futures are trading positive, complimented by higher Asian markets.SGX Nifty is also indicating positive start for the Indian markets.

▫️ Stocks in Ban: SAIL, ESCORTS, PNB, AMARAJABAT, L&TFH, TATAPOWER, NATIONALUM, IDEA, IRCTC and SUNTV.

▫️Key Results Today: RIL, HDFC LIfe Insurance, Yes Bank, Federal Bank, Inox Leisure, PVR and Apollo Pipes.

This post is for educational purposes only.

News Bulletin and Market Update: 11/10/2021

News Bulletin

▫️ Andhra Pradesh, Delhi and Rajasthan seeks centre support for power crisis.

▫️Centre clears the fear over coal crisis and said there is enough coal with Coal India Limited and power companies to provide power to the country.

▫️Reliance Industries bought foreign solar panel equipment manufacturer REC Solar Company for ₹5,800 crores.

▫️ Reliance Industries acquired 40% stake in Sterling and Wilson solar for ₹3,630 crores.

▫️Auto retailers to face losses this festive season due to chip shortage, which is hurting vehicle dispatches.

▫️ Govt. to revamp telecom licensing process.

▫️India’s active covid case load reached lowest in 208 days.

▫️ Govt. allowed newly set up petrol pumps to set up EV charging stations and CNG outlet even before starting sale of petrol and diesel.

▫️Pradeep Phosphates to expand its manufacturing capacity.

▫️RBI’s decision to take control over defaulted SREI, will prevent domino effect.

▫️Government to initiate disinvestment of IDBI Bank by December.

▫️ Centre imposed stock limits on edible oils and oil seeds to tackle rising prices.

▫️ Metropolitan Exchange of India may not get its licensed renewed after it failed to raise sufficient funds.

▫️FPIs pulled out ₹20,000 crores from banking sector between Apr-Sep and invested in consumer goods, IT, pharma and telecom.

▫️ Disinvestment of BPCL and Shipping Corporation to be completed by FY22.

▫️ E-commerce companies sold goods worth $2.7bn in first 4 days of festive season sale.

Market Update

▫️ Indian markets soared to record high on Friday, after RBI kept key rates and accommodative stance unchanged to support economic recovery.

▫️Sensex climbed 0.64% to 60,059.06, while Nifty jumped 0.59% to 17,895.

▫️Market breadth was mixed with advance decline ratio of 974:853.

▫️Interest rate sensitive sectors like banking and real estate ended in red, whereas IT,auto, oil and gas extended gains.

▫️The Ruppee closed 19 paise weaker at 74.98 against US dollar due to concerns over rising crude prices.

▫️Gold prices jumped and closed above ₹47k, after RBI’s policy decision.

▫️Oil prices is trading at record high with WTI Crude breaching $80 mark, as fuel demand rose.

▫️US Job data came weak, as a result the US stock markets closed slightly in red on Friday.

▫️Today morning US futures are trading marginally in red, while Asia is positive. SGX Nifty is indicating positive start for the Indian markets.

▫️ Stocks in F&O ban: IRCTC, SUNTV, IBULHSGFIN, NATIONALUM, SAIL, PNB and CANBK.

Weekend News Bulletin 03/10/2021

▫️Wholesale dispatches of passenger vehicles slowed down due to chip shortage.

▫️Tata sons is set to take over Air India, more than 50 years after it was taken by govt.

▫️Zee Board Of Directors refuse to conduct EGM and moved to court against Invesco (top shareholder).

▫️RBI ordered Dhanlaxmi Bank to speed up appointment of Board of Directors.

▫️ Manufacturing activities rose at faster rate in September than August.

▫️GST collection rose by 23% in September.

▫️Oyo has filed papers for ₹8,340 crores IPO.

▫️IT Dept. imposed ₹8,334 crores capital gains tax demand on Grasim.

▫️West Bengal and Tamil Nadu reported positive growth in per capita income in FY21, against nationwide fall.

▫️Due to rise in crude oil prices, trade deficit spikes by more than 50% in September.

▫️Jet fuel price increased by 5.8%.

▫️There has been surge i power demand of India, resulting in surged demand of coal. Further, over half of India’s coal based power plants have less than 3 days of inventory left.

▫️RIL extends deadline for Future Deal.

▫️ CEAT raised its stake in online tyre purchase and selling company – Tyresnmore.

▫️ Tech Mahindra to acquire IT Consultancy company – Beris Consulting for ₹60 crores.

▫️TATA Group makes open offer to acquire 26% stake in Tejas Networks for ₹1,038 crores.

▫️ Mahindra Lifespace leased about 15 acres of land to Ashiana Housing.

▫️Indian Bank signed pact with Indiabulls Housing for lending to priority sector.

▫️Merck made Covid antiviral pill has shown high efficacy in trial.

▫️US factory growth highest in 4 months in September.

▫️Euro Zone inflation jumps to 13 year high.

▫️Aditya Birla AMC IPO subscribed by 5.25 times.

▫️ India’s forex reserve down by $997 million to $639 billion.

▫️OPEC+ to release more oil to tackle rising crude oil prices.

▫️ India’s export jumped over 21% to $33.44 billion in September.

▫️Telecom Department has imposed fine of ₹2,000 crores on Voda Idea and ₹1,050 crores on Bharti Airtel.

▫️Truck rentals grew 3-6% in September, due to rising demand.

▫️There has been record number of credit ratings upgrade of Indian companies between Apr-Sep.

▫️ Employment rises by 8.5 million in September, highest in 20 months.

▫️Term insurance prices to rise by 40% as reinsurers have increased their rates.

▫️Kerala to reopen cinemas from October 25th.

Market Update and News Roundup: 29/09/2021

Market Update

▫️Indian markets witnessed heavy sell-off on Tuesday, following weal global cues due to rise in bond yields and crude oil prices. Further, slowdown in China’s economy also turned foreign investors cautious.

▫️Sell off was also seen in bonds, as Indian government bond yield rose 9 bps in the past 3 days, tracking the rise in US treasury yields.

▫️Sensex and Nifty closed at 59,667 (-0.68%) and 10,748 (-0.60%).

▫️Power Sector, Energy, Steel, PSU Bank tried to support the markets but were outpaced by sell off in Realty, IT, Media and FMCG.

▫️Market Breadth was largely negative with advance decline ratio of 685:1135. Midcap and Small indices also fell in line with the benchmark.

▫️ Volatility index climbed by 2.66% to 18.53.

▫️Ruppee continued its free fall and closed 20 paise weak, at 74.04, tracking sell of in asian currencies and fall in domestic equities.

▫️The oil price rising streak finally ended on Tuesday, with the Brent Crude price falling before $78 mark, as investors looked for profit booking.

▫️Gold prices continued to fall, and ended below the 46k mark due to higher bond yields.

▫️US treasuries rose to 1.5%, first time since June, on expectations of sooner then expected rate hikes. Further, US Consumer Confidence index came lower at 109.3 than expectation of 115.

▫️As a result, US markets experienced large sell of with Dow and S&P500 falling 1.6% and 2.0%.

▫️Today morning US futures are trading positive. Whereas Asian markets have opened in deep red territory. Lower SGX Nifty is also indicating a lackluster start for the Indian Markets.

▫️Stocks in F&O ban: SUNTV, SAIL, IDEA and ZEEL.

News Roundup

▫️ Govt. is actively looking to privatise non-strategic PSUs (focus on SAIL, NBCC, Madras Fertilizer and National Fertilizer).

▫️ State Govt’s indebtedness to remain high, with debt to GDP ratio estimate of 33% in FY22.

▫️ Business Redemption index moved to record high of 105.0 during September, thanks to surge in mobility in Hyderabad and Pune.

▫️Future Group may hold shareholder meet, to seek approval for sale of assets to RIL.

▫️India has one of the highest fintech adoption rate globally with score of 87%, compared to global average of 64%.

▫️India has scrapped of 22,000 compliances, decriminalised 103 corporate offences and removed 327 redundant provision, to promote ease of doing business.

▫️ Govt. has notified that only Indian registered companies can opt for the ₹10k crores textile PLI scheme.

▫️ American airlines and Indigo signed a one way codeshare contract under which the foreign operator can sell seats on the Indian carrier.

▫️ Godrej Industries raised ₹750 crores via bonds.

▫️Eveready Industries is looking to expand, and add products under the Eveready brand.

▫️UP Govt. to promote wine production and will aid in setting up dozen of wine production units.

▫️In a blow to Adani Gas, Supreme Court rejected Adani’s plea to distribute gas in districts of Gujarat.

▫️US trade deficit increased by 0.9%, while its consumer confidence hit 7 month low.

▫️US Treasury Secretary Janet Yellen, has warned the US govt. that her department will run out of cash by Oct 18, and they will be unable to honor US govt. obligations. This led to sharpe rise in US yields to 1.5%.

▫️Japan lifted Covid-19 emergency, and is now looking to boost the economy.

▫️Muthoot Finance joined hands with a tech company to launch AI assistant.

▫️Indian Bank partnered with TN govt. for performing the state’s treasury activities.

▫️MSCI Index can go for composition change which can attract $ 1 billion in Indian markets, potential stocks that can be included are: Zomato, Mphasis, Mindtree, IRCTC, SRF and Godrej Properties.

▫️ Whirlpool India to buy additional stake in Elica PB India for $57 million.

This post is for educational purposes only.

Market Update and News Bulletin: 28/09/2021

Market Update

▫️India bourses continued their bull run and closed marginally up at record high, backed by strong buying in RIL and auto sector, counterbalanced by profit booking in IT sector.

▫️Sensex and Nifty ended the day at 60,078 (+0.05%) and 17,855 (+0.01%).

▫️ Sectorwise, auto, realty, banking, oil and gas outperformed, while IT, healthcare and FMCG underperformed.

▫️Market breadth was bearish with advance decline ratio of 790:1028. Smallcap and Midcap indices ended mostly flat.

▫️ Volatility index jumped by 6.7% to 18.05, reflecting cautious mood of Investors.

▫️Ruppee lost 15 paise and closed at 73.83 against dollar, due to rising crude oil prices and stronger dollar.

▫️Oil prices inched up for 5th straight session and neared $80/barrel, due to supply side constraints caused by maintenance delays and under investment, complimented by strong demand rebound.

▫️ Gold prices fell slightly and hovered around 46k mark. Soft global cues and rising yields are bringing gold prices down, while Chinese buying (due to fall of Evergrande) is supporting the yellow metal.

▫️US markets closed mixed yesterday, as Dow ended the day in green, while S&P and Nasdaq closed in red, as rising treasury yields weighed on IT stocks.

▫️Today morning US futures are trading negative, accompanied by weak Asian markets. SGX nifty is also down, indicating soft opening for Indian markets.

▫️Stocks in F&O ban: SUNTV, SAIL, CANBK, ZEEL, IDEA and ESCORTS.

News Bulletin

▫️Promoters of Voda Idea have assured government that they would infuse ₹10,000 crore equity in to the company.

▫️Job growth over the past 8 years in India, was only 3.3% (lot of potential left).

▫️ Goodman Sachs has raised the Brent Crude oil price to $90/barrel, by the year end (-ve for India Inc.).

▫️ Govt. to borrow ₹5.02 lakh crore in second half of FY22.

▫️ RBI bank imposed ₹2 crore fine on RBL Bank due to regulatory deficiencies.

▫️BPCL plans investment of ₹1 lakh crores over the next 5 years.

▫️2nd Quarter advance tax collection rose by 52%, thanks to steel, manufacturing and mining companies’ record profits.

▫️ICRA raised India’s FY22 GDP growth forecast to 9.0% from 8.5%.

▫️Daily GST e-way bill for week ended on 26 Sep was up by 4%, sequentially (Festive Demand Pick Up).

▫️ Financial losses of power distribution companies were down by 38% in FY20.

▫️Tata Steel became the first steel company to join Sea Cargo Charter as part if its efforts to reduce carbon emissions.

▫️Adani Wilmar has opened 12 stores in 6 states under the brand name of ‘Fortune Mart’.

▫️Royal Enfield partnered with TCX to launch protective riding accessories and lifestyle shoes.

▫️Shyam Metalics enters into aluminium business.

▫️ China’s Central Bank promised to protect consumer interests from the fall of Evergrande.

▫️Power shortage in China has led to nationwide shutdown of factories, impacting growth and global supply chain.

▫️SEBI confirms ban on 5 people in ZEE, for insider trading.

▫️IL&FS offered NPAs worth ₹4,297 crores on sale.

▫️Banks have offered bad loans over ₹10,000 crores for sale to asset reconstruction companies in Q2’22. (IDBI, BoB, SBI, Union Bank and IOB were the top sellers)

▫️ Federal Bank launched contactless credit card.

▫️HDFC Bank raised ₹5k crores via bonds.

▫️HDFC Ltd to raise ₹6k crores debt.

▫️ Reliance to invest in Google backed mobile content provider Glance InMobi PTE.

▫️Power Grid to raise ₹6,000 crores via bonds.

▫️Chip shortage to affect expansion plans for Paint Industry (especially new entrants like Grasim)

▫️Air Traffic decline marginally during Sep 19-25 week.

This post is for educational purposes only.

News Roundup and Market Update 27/09/2021

Market Update

▫️ Indian markets continued to climb, riding on the back of sharp economic recovery. Investors continued to show interest in India markets, even though it is now very expensive.

▫️Sensex and Nifty ended at 60,048 (+0.27%) and 17,853 (0.17%).

▫️ Sectorwise, real estate outperformed the market while metal, psu bank and commodities underperformed.

▫️ Market breadth was unfavorable with advance decline ratio of 633:1186.

▫️Ruppee closed weak by 4 paise at 73.68, as almost all asian currencies lagged against the dollar.

▫️Oil prices continue their rally and is trading at 3 year high above $78, due to sharp decline in US inventories, sustained economic recovery and very slow pace of rise in oil production by OPEC+. (-ve for India Inc)

▫️Gold prices fell below the 46,000 mark citing fears of rise in interest rates, after the Fed’s meeting.

▫️US markets ended flat on Friday with a positive bias, as market dumped the contagion effect of Evergrande fall.

▫️This morning US futures are trading very strong, accompanied by positive opening for the Asian markets. SGX Nifty is also trading higher, reflecting good start for the Indian bourses.

▫️Stocks in F&O ban: SAIL, ZEEL, CANBK, ESCORTS, IDEA, IBULHSGFIN, IRCTC and PNB.

News Round Up

▫️Tata & Airbus have finalised ₹20,000 crore deal for 56 military aircraft.

▫️ Competition Commission of India have fined ₹873 crores on UBL and other alcohol producers for creating a cartel.

▫️ONGC has put 2nd well in KG Block on production.

▫️RBI has allowed banks to sell their fraud loan exposures to asset reconstruction companies (+ve for Banks).

▫️Auto PLI scheme to benefit large companies the most (Maruti & Tata Motors in focus).

▫️ Govt.’s net direct tax collection have increased by 74% in FY22 till now (+ve economic development).

▫️ESIC scheme added highest number of members in July (reflecting increased hiring activity, Naukri in focus)

▫️Cadila Healthcare entered into an agreement with Shilpa Medicare for production of its Covid-19 vaccine.

▫️ August recorded highest advertisement volumes since 2nd lockdown (+ve Media companies).

▫️NBCC bagged ₹968 crore overseas project to build 2,000 homes in Maldives.

▫️ Nucleus Software announced ₹159 crores buyback at ₹700 per share.

▫️ Daikin world’s largest air conditioner producer to set up its 3rd manufacturing plant in India in Andhra Pradesh (+ve effect of PLI scheme).

▫️India Bulls Housing Finance sold portion of its stake in Oak North for ₹251 crores.

▫️Tata Motors have touched the milestone of selling 10,000 EVs.

▫️China banned all crypto currency transactions in the country, leading to sharp fall in crypto currency prices

▫️UBS sold shares of Axis Bank worth ₹255 crores.

▫️India’s forex reserve decline by $1.47 bn to $639.6BN mainly to exchange rate changes.

▫️Hero Moto to set up 10,000 EV charging stations across the country in next 1 year (Ola effect).

▫️Shyam Steel to expand its presence in Southern, Western and Central India.

▫️Diesel prices were hiked by 20 paise, while Petrol prices unchanged.

▫️From July 1,2022, smart watches, smart cameras, tracking devices, etc. can only be sold, used or imported after accreditation.

▫️Cinema Halls to open in Maharashtra from Oct 22.

▫️Air Traffic grew by 35% in August, sequentially positive for Airlines).

▫️ Global IT giant Accenture reported strong quarter 4 results, Indian IT firms will remain in focus today.

▫️30 IPOs may hit the Indian market in Oct-Nov, seeking a total of ₹40,000 – ₹45,000 crores.

▫️HDFC plans to reach rural India, and hire 2,500 employees in next 24 months.

▫️Jio and Airtel have most numbers of active subscribers, while VIL lags way behind.

▫️NTPC wins 1.9GW solar power project.

▫️India’s top 10 listed 10 real estate companies have reduced their debt by 37% post pandemic.

▫️ Tupperware to set up 1,000 retail stores in India.

This is for educational purposes only.

Market Update and News Bulletin: 22/09/21

Market Update

▫️Indian markets witnesses a mixed session yesterday, and markets recovered sharply in the second half after fears of contagion effect from the fall out of Evergrande eased.

▫️Sensex and Nifty closed positive at 59,005 (+0.88%) and 17,562 (+0.95%).

▫️ Volatility Index VIX fell by 5.55% to 16.52, reflection increased investor confidence.

▫️Real Estate, IT, Metals, FMCG and Pharma shares fared well, while PSU Bank and Auto extended losses.

▫️ Market breadth remained weak as small and mid cap indices lagged the frontline benchmark. Further, Advance Decline ratio was also Bearish (862:942).

▫️ Ruppee recovered 13 paise to close at 73.61, amid stock rally and weak dollar ahead of Fed’s meet.

▫️Oil prices rose marginally after Monday’s fall, on demand outlook partly offset by supply side issues.

▫️ Gold inched up by ₹231 to ₹46,531, on risk averse stance by investors ahead of US Fed Policy Outcome.

▫️US markets ended slightly negative on Tuesday, amid global slowdown fears due to problems in the Chinese economy.

▫️This morning US futures are trading positive. Asia is mixed, as Chinese benchmarks are trading lower. However, SGX Nifty is indicating a positive start for the Indian markets.

▫️Indian Markets may remain volatile until tomorrow, and will take fresh stance after the Fed’s policy outcome.

▫️Stocks in F&O ban: IDEA, IRCTC, IBULHSGFIN, PNB and SUNTV.

News Bulletin

▫️ Evergrande Chairman eased out tension and affirmed that the Company will fulfill its responsibilities towards property buyers, investors, partners and financial institutions. The Company has $83 million interest coupon due on Thursday, and it will be watched closely if it is able to pay the same.

▫️Stricter regulations to be imposed on e-comm industry , draws internal criticism from certain sections of the govt itself.

▫️Adani Group to invest $20 billion in renewable energy in next 10 years.

▫️India will not buy foreign vaccines: Moderna and Pfizer.

▫️Tata Motors to hike Commercial Vehicle prices by 2%, due to rising input costs.

▫️ RIL may acquire stressed polyester manufacturer JBF Industries.

▫️Torrent Power to buy 156 MW wind energy plant from CESC for ₹790 crores.

▫️ Business Resumption index remained above pre pandemic level in September (+ve econony).

▫️Loan guarantee scheme launched by the govt. may be extended by 6 months to March 22, to give full advantage to the beneficiaries.

▫️Agri exports jumped 22% in Apr-Aug period.

▫️FPI investment in India in September has been highest so far in FY22.

▫️ Govt to cancel the allotment of Jharkhand coal mine to Adani Power as it didn’t operationalise the same on time.

▫️Kharif food grain output estimated at record 150.5 tonne this year.

▫️Spread of coronavirus in India has slowed as the R value (measure of spread) fell below 1.

▫️Maruti to continue to work and sell fuel efficient cars, as it is the most demanded automobile in the country.

▫️ Godrej Industry fo raise ₹750 crore via issuance of bonds.

▫️L&T bagged 2 significant orders from GAIL India and Air Products Middle East.

▫️ Flipkart to run Big Billion Day Sale from Oct 7-12.

▫️ Spice Jet to raise ₹25 billion by share sales to improve financial condition.

▫️ Global Firm Deloitte, marked that India is now witnessing a consumption revival.

▫️US current account deficit is at 14 years high (may see some pressure on dollar).

▫️India Bull Housing Finance raised ₹808 crores via bonds.

▫️BSE added 1 crore investor accounts in just 107 days.

▫️ Kotak Mahindra Bank announced its entry into healthcare lending.

▫️ HDFC Bank plans to double the exposure to retail loans in couple of years. It plans to raise ₹5,000 crore in infra bonds.

▫️Paras Defence IPO subscribed 16.57 times on first day.

▫️Tata Power to raise $750 million for renewable energy.

▫️TATA-Airbus to sign a mega ₹22,000 deal for military aircraft manufacturing (game changer: privatisation in defence)

▫️ Govt has asked ministries to speed up capital expenditure and adopt technology, and ensure that support is reached to everyone.

This is for educational purposes only.

Market Update and News Bulletin: 16/09/2021

Market Update

▫️Indian markets touched all time high yesterday, backed by government announced schemes for auto and telecom sector.

▫️Sensex and Nifty ended the day at 58,723 (+0.82%) and 17,519 (+0.80%).

▫️Nifty Midcap and Smallcap performed in line with the frontline benchmark and ended the day with a gain of 1.02% and 0.65%. While market breadth was strong, with Advance Decline of 1172:646.

▫️All sectors looked strong and participated in the yesterday’s rally, except Media.

▫️Rupee rose during the later half of the day and closed 18 paisa stronger at 73.50, on hopes of foreign investment after the government announced schemes.

▫️Oil prices rose and topped $75/barrel (Brent), as US oil inventories fell more than expected and on rising demand expectations. Oil price rally may still continue until supply side disruption eases.

▫️Gold prices moved up by ₹238 to ₹47,255, due to rising covid cases in China and rising investors interest for safe heaven asset.

▫️US indices closed in positive driven by rally in energy stocks due to higher oil prices and positive developments in the economy.

▫️This morning US futures are trading flat while Asia is trading mixed. SGX Nifty is down by 0.10%, reflecting subdued start for the Indian markets.

News Bulletin

▫️As highlighted yesterday, the Cabinet has now approved ₹26,000 crore PLI scheme for clean tech auto investments.

▫️ Similarly, the relief package for Telecom sector was also approved, which includes deferral of payment schedule, removal of penalty, scrapping of spectrum usage charges, re defination of AGR charges, etc. (This will provide cash relief of ₹88,000 crores to VIL over 4 year provide, however real revival of the Company can only happen if it is able to pump in fresh funds)

▫️India is considering to restart vaccine exports.

▫️Govt is seeking $109 billion valuation for the country’s largest IPO and will sell stake in the range of 5-10%.

▫️JSW energy to invest ₹35,000 crores in renewable energy.

▫️5G spectrum auction likely in Feb’22.

▫️Pepsi opened its largest plant in India yesterday, in Mathura, Uttar Pradesh.

▫️Apple to start selling its new Iphone in India on Sep 24, prices start from ₹69,000. (Reddington India in focus)

▫️Ola is selling 4 electric scooters every second as per the Company founder (Negative development for 2-wheeler companies)

▫️Light Commercial Vehicle market to see double digit growth in FY22 (Tata Motors, Ashok Leyland to benefit)

▫️ Glenmark concluded its study on Covid drug, Favipiravir.

▫️ Coal India’s pending dues fall from ₹22,000 crores to ₹16,840 crores in August.

▫️China’s factory output and sales growth hit lowest in 1 year in August, due to fresh Covid concerns.

▫️RBL restarted credit card issuance with Visa, after Mastercard ban.

▫️ Govt. to sell 10% stake in Hindustan Copper.

▫️Tata Group and Spicejet in race for Air India sale.

▫️Infosys partnered with enterprise application software leader SAP.

▫️ Mutual Fund’s exposure to auto stocks hit 17 month low.

▫️Federal Bank may partner with Fintech companies to grow business.

This is for educational purposes only.

News Bulletin and Market Update 14/09/21

News Bulletin

▫️ Retail Inflation eased to 4 month low of 5.30% in August. This will cool pressure from RBI to curb liquidity (positive for market).

▫️Old dues to private power generation companies from distribution companies touched ₹49,000 crores and is a cause of concern.

▫️Jet Airways will again touch the sky in 2022, and has already hired 150 full time employees.

▫️ Govt may give approval to PLI scheme for auto industry. This will be the last and the biggest of the 13 PLI schemes. The scheme will be focused towards EVs (Tata Motors biggest beneficiary)

▫️ Lower covid count last week and approaching festive season, has put Indian economy on a fast lane.

▫️ Unemployment fell to lowest in 7 weeks for the week ended on Sep 12.

▫️Non-food credit grew fastest in over a year by 6.68% for the fortnight ended on Aug 27.

▫️Infy completed its ₹9,200 crore share buy back program at an average price of ₹1,648.53.

▫️ Vedanta Resources reduced its net debt by $300 million in 1H22 and further expects to reduce it by $500 in full FY22.

▫️TCS joined hands with NXP Semiconductor, to drive the latter’s digital IT services strategy.

▫️Top investors of Zee Entertainment seek removal of CEO Punit Goenka.

▫️BPCL is formulating export strategy for its petroleum products.

▫️Spice Jet to resume 737 flight from September end.

▫️SBI led bank consortium has asked govt to give more time to Voda Idea to clear their dues.

▫️ Infosys and Microsoft entered into agreement with Australia’s largest electricity distributor on east coast, to transform its digital platform.

▫️Eveready Industries expects to be debt free in 2 years.

▫️India may get exclusive right to sell Basmati in EU. (Stock to watch for: Dawaat)


▫️ Chinese tech companies fell sharply on Monday, after a fresh curb announced by Chinese government.

▫️China urges US to repair damaged ties between the two countries.

▫️ Aluminum prices for the first time in 13 years hit $3,000, amid supply disruption and strong demand.

▫️ India’s 10 year govt bond yield rose amid speculation that government may increase its borrowing in 2nd half of FY22.

Market Update

▫️The benchmark indices closed negative due to sell off in frontline heavyweight stocks.

▫️Sensex and Nifty ended in red at 58,178 (-0.22%) and 17,355 (-0.08%).

▫️ Broader markets performed well, with Advance Decline ratio of 935:870. Further, Midcap and Smallcap indices closed positive and outperformed benchmark indices.

▫️ Financial Services including Banking was the worst performing sector, while IT, Metal and Media out shined.

▫️Ruppee dived down 18 paise and closed weak at 73.68, due to strong dollar overseas and weak trend in domestic equity market. US inflation data today will determine the movement in dollar. Further, improvement in India’s inflation data which was released yesterday may provide some support to the local currency.

▫️Oil prices continued to move up due to lasting impact of Hurricane Ida on the US oil production. However, OPEC has trimmed it’s oil demand forecast for last quarter of the year, which can bring pressure on oil prices.

▫️ Gold prices remained stable and closed marginally lower. The yellow metal is awaiting the US Fed Policy Outcome next week, which will decide its movement.

▫️The number of covid Infections in US fell consistently last week and is 10% down from its peak.

▫️Taking cheer from this, US markets jumped and ended the day in green.

▫️ Today morning, US futures is trading in positive territory, complimented by positive opening of Asian markets.

▫️SGX Nifty is currently stable with a positive bias. Indian markets are expected to open gap up, taking cues from strong global markets and improved inflation data.

This is for educational purposes only.

News Bulletin and Market Update: 13/09/2021

News Bulletin

▫️ Govt. to provide incentives for building textile parks near ports to boost exports.

▫️PLI Scheme tenure for IT hardware may be extended by 1 year.

▫️Coal India likely to hike coal prices by 10-11%, to cover the impact of increased cost.

▫️Banks lending to small NBFCs saw negative growth of -2.2% in June, while in July it remained tepid at +0.5%. (Liquidity continues to be a problem for small NBFCs)

▫️ Housing supply and demand is expected to see a growth of 30-40% this festive season. ( There is lot of growth scope for real estate sector, as BSE Realty Index is currently trading 75% lower from its all time peak in 2008)

▫️ Godrej Consumer expects double digit growth in FY22.

▫️ Traffic at major ports slowed in July and was lower than June.

▫️ World’s leading port and terminal operator to invest ₹2,000 crore in Tamil Nadu for various projects.

▫️ Private life insurers witnessed healthy premium growth during Jun-Aug period. (HDFC Life and ICICI Pru’s premium grew maximum)

▫️Banks may classify ₹35,000 crore loans to SREI as NPA in September quarter. (Indian Bank and Canara Bank have good amount of exposure)

Market Update

▫️Indian bourses were closed on Friday. Market ended flat on Thursday, as investors booked profit in the frontline stocks.

▫️Sensex and Nifty ended with little positive bias at 58,305 (+0.09%) and 17,369 (+0.09%). Overal the indices ended the week with a nominal gain of 0.30%.

▫️Broader markets were in a favourable position with advance decline of 975:807.

▫️Sector wise, Nifty Media clocked 3% gain followed by consumption with 1% gain. While, Real estate sector underperformed with a fall of 1%.

▫️Ruppee ended strong with a gain of 10 paisa at ₹73.50, backed by weak dollar and firm foreign inflows.

▫️Oil Prices ended high on Friday, due to lower US Oil supply, high demand and low inventories. If demand continues hold, Oil may see a big up move.

▫️Gold prices for 2nd straight week due to rising treasury yield. The metal ended the week with a loss of 1.51%.

▫️US markets closed in red on Friday due to high inflation woes as suggested by producers price index data. However, dow futures is positive this morning.

▫️Asia closed strong on Friday, and is trading mixed this morning. While flat SGX Nifty is suggesting mute opening for Indian market.

This post is for educational purposes only.