Saturday, 26 Sep 2020

Indian Stock Market Daily News: 25th August 2020

Indian Stock Market Daily News: 25th August 2020

The Indian share market is expected to continue the trend of optimism for the second day in a row on Tuesday. At 7:32 am, the SGX Nifty traded 56.5 points higher at 11,504.80, indicating a positive start for the Sensex and the Nifty50


Automobile

  • Tata Motors in talks for tech & funding tie-up to bring domestic passenger vehicle business back on track. Tata Motors has been feeling the heat in the PV space for years and some of its launches have not hit the mark in an evolving market
  • Pricol has completed the sale of 100% stake held by it, in the Wholly Owned Subsidiary “Pricol Espana Sociedad Limitada, Spain”, along with its Wholly Owned subsidiary company, “Pricol Wiping Systems Czech s.r.o” on 21st August 2020
  • Minda Industries Q1FY21 Loss at Rs 118 crore vs Rs 53.5 crore YoY. Income at Rs 417 crore vs Rs 1440 crore YoY
  • Hero MotoCorp handed over four specially designed First Responder Vehicles (FRVs) to the government civil hospitals in Rewari and Dharuhera in the state of Haryana

 

Bank

  • Punjab National Bank Standalone Q1FY21 PAT at Rs 308 crore vs Rs 1019 crore YoY. GNPA at 14.11% vs 14.21% QoQ; NNPA at 5.39% vs 5.78% QoQ
  • State Bank of India: Ashwani Bhatia has been appointed as Managing Director of the Bank bu Govt.
  • Union Bank Of India Standalone Q1FY21 PAT at Rs 333 crore vs Rs 224 crore YoY. GNPA at 14.95% vs 14.59% QoQ: NNPA at 4.97% vs 5.22% QoQ
  • Indian Bank: CARE Ratings has assigned CARE AA+/(Outlook: Credit watch with developing implications) to Bank’s Proposed Additional Tier 1 Perpetual Bonds (Basel III) aggregating to Rs.2000 crore
  • Indian Bank: CARE Ratings has assigned CARE AA+/(Outlook: Credit watch with developing implications) to Bank’s Proposed Additional Tier 1 Perpetual Bonds (Basel III) aggregating to Rs.2000 crore
  • Indian Bank: CARE has assigned CARE AAA/(Outlook: Credit watch with developing implications) to Bank’s Proposed Tier 2 Bonds (Basel III) aggregating to Rs.2000 crore

 

Breweries & Distilleries

Diageo incurred loss of 2 million pounds on sale of India wine business, according to reports. Talking about consumption preferences, Diageo said consumers who drink alcohol are increasingly choosing spirits over beer and wine

Cigarettes / Tobacco

Godfrey Phillips Q1FY21 PAT at Rs 55 crore vs Rs 119 crore YoY. Income at Rs 412 crore vs Rs 808 crore YoY


Electric Equipment

Suzlon: Board has approved the issuance of NCDs to an extent of Rs.4,453 Cr on private placement basis to Suzlon Global Services Ltd. (wholly owned subsidiary) as part of the restructuring of debts with the lenders subject to approval of the shareholders

 

Finance

  • CDSL has reduced transaction fee up to 91% for margin pledge and re-pledge
  • Satin Creditcare: Working Committee has allotted 1000 NCD’s of Rs. 10,00,000 each for aggregating to Rs 100 crore on private placement basis


Finance-Housing

  • RBI has provided an additional special liquidity facility of 50 billion rupees to the National Housing Bank in order to infuse more liquidity in the housing finance sectorIndiabulls Housing Finance Q1 FY21 PAT at Rs 273 crore vs Rs 802 crore YoY. Income at Rs 2575 crore vs Rs 3885 crore YoY
  • LIC Housing Finance Q1 FY21 PAT at Rs 824 crore vs Rs 609 crore YoY. Income at Rs 5012 crore vs Rs 4816 crore YoY

Insurance

ICICI Lombard: Board has approved a scheme of arrangement amongst Bharti AXA General Insurance Company Ltd and ICICI Lombard General Insurance Company Ltd and their respective shareholders and creditors

 

IT Industry

Wipro partners with industry-leading Standard Initial Margin Model (SIMM) vendor, Quaternion Risk Management. As part of the collaboration, Wipro will offer SIMM-in-a-box to financial institutions covered under Uncleared Margin Rules

 

Oil Exploration

  • Oil India Q1FY21 PAT at Rs 26 crore vs Rs 847 crore YoY. Income at Rs 1750 crore vs Rs 3381 crore YoY
  • ONGC: Board to consider fund raising (Debt) on 1st September

 

Pharmaceticuals & Drugs

  • Lupin is recalling 5,60,922 pouches of a birth control product in the US, as per USFDA
  • Piramal Capital in Talks with Apollo Global to Raise $500m
    SMS Lifesciences Q1FY21 PAT at Rs 2.5 crore vs Rs 4.7 crore YoY. Income at Rs 55 crore vs Rs 92 crore YoY

 

Plastic Products

Prince Pipes launches Prince FlowGuard® Plus (CPVC pipes) in association with Lubrizol

 

Power Generation

  • NTPC said it has received the approval of Niti Aayog and Department of Investment and Public Asset Management to set up a wholly-owned company for its renewable energy business
  • JSW Energy: Mr.Jyoti Kumar Agarwal,Executive Director has tendered his resignation from the Company as he has decided to pursue carrier opportunities outside the Company
  • IEX: Mr. Rajiv Srivastava has resigned as MD&CEO of the company. Mr. Satyanarayan Goel, Non-Executive Chairman of the Board has been given an additional charge of MD&CEO of the Company, for an interim period with immediate effect

 

Refractories

IFGL Refractories Q1FY21 PAT at Rs 10.2 crore vs Rs 13.6 crore YoY. Income at Rs 203 crore vs Rs 255 crore YoY

 

Telecommunication

  • Supreme Court while hearing the AGR case said that the Bharti Airtel will have to pay the dues of bankrupt Videocon Telecommunication.
  • Vodafone Idea has told its lenders that despite financial constraints the telco will pay accrued interest on due loans after availing the six month moratorium set to end on August 31 and it will not require restructuring
  • Vodafone Idea: CARE downgrades Long Term Bank Facilities to CARE B+ (Credit Watch with Negative Implications) from CARE BB- (Credit Watch with Negative Implications)

 

Trading

Adani Group to acquire 74% stake in Mumbai International Airport
MCX launches futures trading on India’s first real-time Bullion Index, MCX BULLDEX

 

Others

  • Government imposes anti-dumping duty on phosphoric acid imports from South Korea for 5 years
  • Security and Intelligence Services: Promoter group to sell shares between 26th August to 31st August for achieving minimum public shareholding
  •  

F&O BAN New Entries And Exits

Enter F&O Ban: Vodafone Idea, GMR Infra, Ashok Leyland, Vedanta

Out of F&O Ban: Aurobindo, Canara Bank, Indiabulls Housing Finance, Muthoot Finance, RBL Bank

Stocks In F&O Ban: Adani Enterprises, Ashok Leyland, BHEL, GMR Infra, Nalco, Punjab National Bank, SAIL, Vodafone Idea, Vedanta

 

 

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