EOD UPDATE 08-08-2019

PM Modi likely to address nation today
The proposed address comes days before the prime minister’s customary address to the nation on Independence Day from the ramparts of Red Fort.

Governor asks banks to pass on rate cuts, home, car loans may cost less soon
Governor Das said that he expects banks to follow the lead of the financial markets.

RIL’s capex worries brokerages looking for cash flow growth
The company is investing more than its cash profits — resulting in debt build up.

US lawmakers urge Pak to refrain from retaliatory aggression
Live updates of the situation in J&K after Centre’s move to revoke Article 370 provisions.

RBI will ensure no big NBFC fails, but no bailout package
RBI has increased monitoring of NBFCs after the IL&FS crisis.

Tata Steel Q1 net profit drops 63%

For the June quarter, consolidated net profit dropped 63 per cent to Rs 702 crore.

More rate cuts ahead; bonds to stay volatile with dovish bias
The current scenario on the inflation front remains largely comfortable.

New Delhi: Prime Minister Narendra Modi is likely to address the nation on Thursday

where he will explain about government’s decision to revoke the special status to given to Jammu and Kashmir and also on splitting the state into two Union Territories – Jammu and Kashmir and Ladakh. PM

RBI will ensure no big NBFC fails, but no bailout package
RBI has increased monitoring of NBFCs after the IL&FS crisis.

  • China Trade Data: July Exports Rises 3.3% YoY In Dollar Terms; Est Of 1% Drop July Imports Down -5.6% YoY In Dollar Terms
  • SAT upholds Rs 2 cr fine on NDTV for disclosure lapses; firm to appeal in SC.

At some point US had to take on China: Donald Trump
The US has officially labelled China a currency manipulator, accusing it of using yuan to gain.

‘RBI moving in right direction, willing to remain flexible till conditions improve’.

Four common mis-selling techniques of insurance agents
Be aware, ask questions, read the proposal and final document carefully and only then part with your hard-earned money.

SC Refuses To Urgent Hearing On Plea Challenging Changes To Article 370 SC: Plea Against Changes To Article 370 To Be Heard In Due Course

Affle India Makes Strong Debut On Stock Exchanges, Surges Nearly 30%

The Gurugram-based mobile marketing platform, Affle India’s shares opened at Rs 929.90 on the BSE, up 24.81 per cent from its issue price of Rs 745.

Talks to get all regulators on board ICA
The Central Bank has no problem if ICA provides different treatment for different types of creditors.

HCL Technologies gains 4% as brokerages maintain buy despite Q1 profit falls
CLSA has maintained buy rating on HCL Technologies with a target at Rs 1,380 per share.

UltraTech Cement gains ahead of June quarter results; PAT seen rising 85%
Brokerage Edelweiss Securities expects the cement maker to report 84.6 per cent YoY jump in profit at Rs 1,165.30 crore.

Retailers eye rental cuts as consumer confidence slips
Consumer confidence in July turned negative for the first time since December 2018, according to a survey by RBI.

Punjab CM’s wife Preneet Kaur loses Rs 23 lakh in online fraud
Patiala senior superintendent of police (SSP) Mandeep Singh Sidhu said the incident happened on July 29 when the MP was in Delhi to attend the Parliament session.

Vedantu raises $11 million in Series B funding led by Omidyar.

Central registry to track frauds in payment systems
In order to carry forward these efforts and ensure quick and systemic responses.

Sebi directs commodity derivatives exchanges to form advisory panel

Your SBI Home Loans To Earn Lower Interest From August 10

With the latest cut in the MCLR, the effective reduction in home loan rates since April 10 is 35 basis points, according to SBI’s statement.

India Cements draws up plans for Rs 1,400-crore capacity expansion
The expenses for the project would be met through a mix of internal accruals and debt, N Srinivasan said.

Neutral HCL Technologies, target Rs 1,150: Motilal Oswal Financial Services.

Emami posts 47% jump in Q1 profit at Rs 39 crore
Emami director Mohan Goenka said despite continuing input cost pressure, EBIDTA margins expanded by 110 bps.

Kirloskar Industries rallies 5% on strong Q1 show; profit up 52%, revenue declines
The share touched its 52-week high Rs 1,169.95 and 52-week low Rs 627.00 on 08 August, 2018 and 05 August, 2019, respectively.

UltraTech Cement Profit More Than Doubles In June Quarter

UltraTech Cement’s standalone net profit more than doubled in April-June period to Rs 1,199 crore versus Rs 598 crore during the same period last year.

Take Solutions rises 8% after robust Q1 numbers
Revenue of the company rose 9 percent at Rs 582.7 crore against Rs 533.9 crore.

Bharti Telecom to become foreign-owned as Singtel eyes controlling stake:
It will subsequently raise foreign shareholding to over 85 percent in Bharti Airtel from 43 percent at present.

Signet Ind Standalone June 2019 Net Sales at Rs 225.33 crore, up 3.94% Y-o-Y.

Pakistan suspends Samjhauta Express services
Live updates of the situation in J&K after Centre’s move to revoke Article 370 provisions.

PM Modi to address nation at 8 pm
The address would come days before the prime minister’s customary address to the nation on Independence Day from the ramparts of Red Fort.

Government Looks To Exempt Foreign Investors From Higher Taxes: Report

The Budget provided for increased personal income taxes on those with annual income of more than Rs 2 crore.

SEBI initiates inquiry against CDSL on corporate governance issues
A senior SEBI official told Moneycontrol.

Adani Enterpris Consolidated June 2019 Net Sales at Rs 10,561.37 crore, up 32.78% Y-o-Y

May Not Be Able To Fulfill Immediate Debt Payments: Dewan Housing Finance

DHFL, the fourth-biggest housing finance company in India, has roughly Rs 1 lakh crore (14.15 billion) of debt.

Thermax Consolidated June 2019 Net Sales at Rs 1,392.45 crore, up 34.5% Y-o-Y

Sebi wants MFs to invest only in listed securities; exposure to unrated debt to be capped at 5%
Exposure to risky debt securities has emerged as a major risk for the capital market investors.

Jamna Auto Braces For Plant Shutdowns Amid Industry-Wide Crisis

New Delhi-based Jamna Auto’s customers include General Motors Co, Toyota Motor Corp and Tata Motors.

Rashtriya Chem Standalone June 2019 Net Sales at Rs 2,409.48 crore, up 23.98% Y-o-Y

No Intention To Criminalise Default In Corporate Social Spending: Official

As per data available with the ministry from disclosures made by companies, more than Rs 52,000 crore has been spent from 2014-15 to 2017-18 period towards CSR activities.

Government Working On Stimulus Package To Counter Slowdown: Report

The stimulus is also likely to cover the financial markets that may get relief from the tax on FPIs imposed in this year’s Budget.

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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