Daily Market Analysis – 16th Oct 2020
1. Oil falls as possible OPEC+ supply boost, COVID-19 spike weigh on sentiment A technical committee of the Organization of the Petroleum Exporting Countries (OPEC) and allied oil producers, a group known as OPEC+, ended a meeting on Thursday expressing concerns about rising oil supply as social restrictions to curb the spread of COVID-19 limit fuel usage. OPEC+ is set to reduce its...
Daily Market Analysis – 14th Oct 2020
WIPRO reported a dollar revenue growth of 3.75 at $ 1,992.4 million against $ 1,921.6 million QoQ. Management expects dollar revenue growth at 1.5-3.5% inQ3. The company announced a buyback of shares worth Rs. 9,500 Crs at Rs. 400 per share. Future outlook: The company said that it has signed a definitive agreement to acquire Eximius Design, a leading engineering services company...
Daily Market Analysis – 13th Oct 2020
To make home loans cheaper, the Reserve Bank of India said that it will rationalise the risk weights and link them to Loan-to-Value (LTV) ratios for new housing loans sanctioned up to March 31, 2022. What it means is that banks are given a leeway while giving out larger housing loans. With reduced risk weights for loans above ₹75 lakh, the cost of lending to this customer segment will come...
Daily Market Analysis – 12th Oct 2020
Indian equities are entering this week in a cheerful mood, courtesy to positive local and global cues. The earnings season kicked off on an upbeat note after IT major TCS announced robust second-quarter earnings. On the global front, updates on the US stimulus package and upcoming Presidential debates will provide support to the markets Mazgaon dock Shilpbuilder, the country’s...
Daily Market Analysis – 09th Oct 2020
1. RBI Governor Shaktikanta Das announced that MPC has kept the policy rates unchanged (Repo rate 4%, Reverse Repo rate 3.35%) and is to maintain an accommodative stance. 2. The Union Cabinet on Wednesday announced a new e-bidding platform to promote market price discovery of natural gas produced from fields across a number of contractual regimes, where producers already have pricing...
Daily Market Analysis – 08th Oct 2020
According to the new Industrial Code 2020, Private companies in India can hire as many workers as they like using the the fixed term contract route without going through the contractor . Due to this new reform it helps industries hire seasonal workers for a short term period and allow these industries to save the cost and effort by hiring people without an intermediary. 2) ...
Daily Market Analysis – 07th Oct 2020
TCS Buyback shares in Tata Sons Shapoorji Pallonji is selling its 18.4% stake in Tata Sons back to the group, to which TCS has decided to buy back shares in Tata Sons. The buyback can be worth up to Rs 22000 cr with approval of shareholderThis will ensure cash flows to the promoters who at this point in time are in need of funds for Tata Motors. IPO Likhita Infrastructure...
Daily Market Analysis – 06th Oct 2020
1. Indian Government keen to resolve pending issues with Neighbouring Countries In its efforts to improve strategic relations with neighbouring countries on east India has reached out to Myanmar to discuss the possibility of building a petroleum refinery in the Thanlyin region. The project has an estimated investment cost of $6 billion. Myanmar has a booming energy industry and China...
Daily Market Analysis – 05th Oct 2020
1. Pradhan Mantri Awas Yojna (PMAY) Pradhan Mantri Awas Yojana is an initiative by the Government of India in which affordable housing will be provided to the urban poor with a target of building 20 million affordable houses by 31 March 2022. Some defined benefits of PMAY are given below:- Avail subsidy upto 2.67 Lakhs*Interest subsidy at a rate of 6.5%* for a tenure of upto...