EOD Update 02-08-2019


Bank of England cuts growth forecasts as Brexit and global worries mount
The BoE’s Monetary Policy Committee (MPC) voted 9-0 to keep rates unchanged at 0.75%.

Indian households going back to safe bank deposits despite lower returns: Report

GSK Consumer Healthcare Q1 net profit up 24% to Rs 248 cr
The company had posted a net profit of Rs 200.44 crore for the corresponding period of the previous fiscal, GlaxoSmithKline Consumer Healthcare said in a BSE filing.

Tata Power posts Rs 230 crore Q1 profit
Total income rose to Rs 7,874.64 crore from Rs 7,404.97 crore in the year-ago quarter.

Negative-yielding debt hits record $14 trillion
Government debt around the globe has rallied in sympathy with bets on US rate cuts.

Talwalkar’s group defaults on Rs 3.44 crore interest payment
Care revised its rating on long-term securities to ‘B from ‘A+.

Raymond posts Q1 net loss of Rs 12.20 cr
The company had posted a net profit of Rs 1.92 crore in the April-June period a year ago, Raymond said in a BSE filing.

Dalmia Bharat Q1 net profit at Rs 152 cr
The company had posted a net profit of Rs 52 crore in the June 2018 quarter a year ago, Dalmia Bharat said in a BSE filing.

PNB to raise Rs 5,000 crore via rights issue or QIP
Provisions and contingencies declined 65 per cent year-on-year to Rs 2,023 crore from Rs 5,758 crore.

Xander acquires office park in Pune for Rs 900 cr
Xander Investment Management Pte Ltd (XIM) has acquired

Japan PE player to put $100 million on fintech companies
Considering RBI’s move of easing ECB/FDI, we thought it would be the best time to make the most of our capability.

Sebi asks SEs to draw up framework on fines
The regulator said the framework should impose higher fines on repeat offenders.

Record Rs 2.54 lakh crore bad loan write-off gives a facelift to banks’ NPA profile
Banks have recovered more than Rs 40,000 crore from three of the twelve loan accounts.

  • Swiggy to raise $750 million at a valuation of around $4 bn
  • Dalmia Bharat Standalone June 2019 Net Sales at Rs 39.00 crore, up 11.43% Y-o-Y.
  • Prestige Estate Standalone June 2019 Net Sales at Rs 772.30 crore, up 147.37% Y-o-Y.
  • GlaxoSmith Con Standalone June 2019 Net Sales at Rs 1,194.32 crore, up 7.87% Y-o-Y.
  • Bharat Immuno Standalone June 2019 Net Sales at Rs 7.00 crore, up 7973.59% Y-o-Y.
  • Hind Constr Standalone June 2019 Net Sales at Rs 831.08 crore, down 10.93% Y-o-Y.
  • Hind Constr Consolidated June 2019 Net Sales at Rs 2,455.89 crore, up 6.03% Y-o-Y.
  • Ahmedabad St Standalone June 2019 Net Sales at Rs 0.63 crore, down 75.16% Y-o-Y.
  • Tata Power Consolidated June 2019 Net Sales at Rs 7,766.72 crore, up 6.2% Y-o-Y.
  • AXISCADES Engg Standalone June 2019 Net Sales at Rs 54.77 crore, up 11.28% Y-o-Y.
  • Tata Power Standalone June 2019 Net Sales at Rs 2,036.54 crore, up 4.67% Y-o-Y.

Cognizant’s Debashis Chatterjee To Be Mindtree’s Chief Executive Officer

The company also said S N Subrahmanyan, CEO of Larsen & Toubro Ltd (L&T), would be appointed as non-executive vice chairman.

Jet Airways: Etihad Airways, Hinduja Group unlikely to submit EoI by Aug 3 deadline

Etihad Airways is considering options to monetise its assets in Jet Airways.

VG Siddhartha’s kin, Blackstone to resume talk for Coffee Day tech park sale: Report
The total debt of Coffee Day Enterprise stands at Rs 6,547 crore, comprising loans from banks and securities sold to mutual funds.

PFS Q1 net profit slumps 72% to Rs 16 cr
Company’s net profit was at Rs 55.93 crore in the corresponding April-June quarter of the previous fiscal.

SBI Net Profit At Rs 2,312 Crore In June Quarter, Asset Quality Stable

SBI results: For the quarter ended March 31, the bank had reported a net profit of Rs 838.40 crore.

PMO, FinMin discuss tax surcharge impact on market, FPIs; tweaks likely
FPIs have sought roll back of surcharge, as a confidence boosting signal from Modi government.

Dharmendra Pradhan Urges Local Oil Companies To Boost Overseas Funding

With economy expected to grow at 7 per cent, Mr Pradhan forecast more funding would flow to energy sector.

HDFC Reports Profit Of Rs 3,203 Crore In June Quarter

For the quarter ended March 31, HDFC had reported a net profit of Rs 2,861.58 crore, up 26.80 per cent compared to the year-ago period.

Cognizant’s Debashis Chatterjee To Be Mindtree’s Chief Executive Officer

The company also said S N Subrahmanyan, CEO of Larsen & Toubro Ltd (L&T), would be appointed as non-executive vice chairman.

Top Court Orders Status Quo On Jaypee Group Plea Against Tribunal Order

The Supreme Court was informed that Parliament had passed the proposed amendments in the Insolvency and Bankruptcy Code.

HDFC Q1 profit surges 46% YoY to Rs 3,203 crore on one-time gain
Analysts in an ET NOW poll had estimated a net of Rs 3,040 crore.

Reserve Bank Of India Seen Set For Fourth Interest Rate Cut Of 2019

Almost 80 per cent of 66 economists surveyed by Reuters expected the RBI to cut its benchmark repo rate by 25 bps.

Inox Leisure Q1 profit down 27% to Rs 27 crore
The company had posted a net profit of Rs 36.99 crore in the year-ago period.

  • SBI Consolidated June 2019 Net Interest Income (NII) at Rs 25,455.11 crore, up 6.38% Y-o-Y
  • BEML Consolidated June 2019 Net Sales at Rs 580.02 crore, up 27.97% Y-o-Y
  • Somany Ceramics Consolidated June 2019 Net Sales at Rs 395.51 crore, up 3.88% Y-o-Y
  • Exide Ind Consolidated June 2019 Net Sales at Rs 3,664.18 crore, up 3.13% Y-o-Y
  • Firstsource Sol Consolidated June 2019 Net Sales at Rs 979.78 crore, up 6.6% Y-o-Y

SBI Warns Of Muted Credit Growth, Misses Quarterly Profit Estimates

SBI expects gross slippage ratio, which stood at 2.83 per cent by June end, to come below 2 per cent before the end of the year.

Top Court Asks RBI To Confirm WhatsApp’s Compliance With Local Data Rules

WhatsApp has been testing a peer-to-peer payments service for over a year in India, its biggest market by users, but local data storage norms have delayed an official launch.

BSE profit drops 19.8% to Rs 41.3 crore in June quarter
Total expenses were higher at Rs 119.10 cr, against Rs 108.69 cr in the year-ago period.

Godrej Agrovet Q1 profit down 4% at Rs 78 crore
It had posted a net profit of Rs 81 crore in the year-ago period.

Astral Poly Tec Consolidated June 2019 Net Sales at Rs 606.60 crore, up 27.17% Y-o-Y

Government To Infuse Rs 10,000 Crore In Housing Finance Companies

The government is trying to take steps to revive economic growth of Asia’s third-largest economy that has slumped to a five-year low.

Birla Corp Standalone June 2019 Net Sales at Rs 1,298.07 crore, up 18.51% Y-o-Y

A Jeff Bezos-Mukesh Ambani Deal In The Works: Report

A potential partnership will help the duo counter Walmart, which last year invested $16 billion in Flipkart, in their battle for a bigger share of India’s fast-growing e-commerce market.

  • Union Bank Standalone June 2019 Net Interest Income (NII) at Rs 2,518.19 crore, down 4.11% Y-o-Y
  • ITC Q1 profit rises 13% YoY to Rs 3,174 crore, meets Street estimates
  • RBI imposes fine of Rs 11 crore on seven public sector banks
  • Nestle India June quarter net up 11% to Rs 438 cr

India’s Forex Reserves Fall By $727 Million To $429.6 Billion

The forex kitty had increased by $1.579 billion to a new lifetime high of $430.376 billion in the previous week ended July 19.

Maruti Suzuki Cuts Temporary Workforce By 6% As Sales Sink

Maruti Suzuki said it employed 18,845 temporary workers on average during the six months ended June 30, down 6% from the same period last year.

RBI bans NBFCs from charging loan foreclosure penalties

Vikesh Kumaar Kataria

Experienced Founder of Brokers Bazaar with a demonstrated history of working in Skilled in RMS from various big corporate giants, Analytical Skills, Banking, Entrepreneurship, Digitalisation and Equities with Strong entrepreneurship professionalism. Experienced Co-Founder with a demonstrated history of working in the logistics and supply chain industry.

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