Q1 GDP: India's economy grew 20.1 percent in April-June quarter
https://www.moneycontrol.com/news/business/economy/q1-gdp-indias-economy-grew-20-1-percent-in-april-june-quarter-7410891.html
Download moneycontrol app: http://m.moneycontrol.com/mom
https://www.moneycontrol.com/news/business/economy/q1-gdp-indias-economy-grew-20-1-percent-in-april-june-quarter-7410891.html
Download moneycontrol app: http://m.moneycontrol.com/mom
Moneycontrol
Q1 GDP: India's economy grew 20.1 percent in April-June quarter; manufacturing sector the bright spot
The GDP print of 20.1 percent is at par with consensus estimates. As per a poll of 41 economists by news agency Reuters, India’s GDP was expected to rise 20 percent in April-June 2021
Shilpa Medicare received DCG (i) approval for 2-Deoxy2-Glucose (Bulk & Oral Powder). The bulk is manufactured by Shilpa Medicare Ltd, API facility in Raichur,' Karnataka. The Oral Powder is manufactured by its subsidiary, Shilpa Therapeutics, facility in Hyderabad, Telangana.
2-Deoxy-2-Glucose Oral Powder is approved for the treatment of adjunct therapy in moderate to severe COVID-19 patients. The product will be available with a brand name '2-DGSHIL'.
2-Deoxy-2-Glucose Oral Powder is approved for the treatment of adjunct therapy in moderate to severe COVID-19 patients. The product will be available with a brand name '2-DGSHIL'.
31 Aug 2021
Sensex 57,552.39 ▲ 1.16%
Nifty 17,132.20 ▲ 1.19%
---------------------
Sensex and Nifty touched all time highs today and closed at record highs. Metal, IT and pharma stocks were the top performers.
---------------------
Macroeconomic update: GDP, fiscal deficit, core output
GDP up 20% due to low base effect
India's gross domestic product (GDP) was up 20.1% during the April to June quarter in 2021.
The GDP was recorded at Rs 32.38 lakh crores as against Rs 26.95 lakh crores during the same quarter last year.
GDP had shrunk 24.4% during the January to March quarter.
The industries that expanded the most were construction: 68.3%, manufacturing 49.6% and, trade, hospitality and communication: 34.3%.
While no industry contracted, agriculture, financial services and public administration expanded the least.
Fiscal deficit
Fiscal deficit during April to July 2021 reached Rs 3.21 lakh crores.
This is 21.3% of the whole financial year's target.
Net tax receipts were at Rs 5.21 lakh crores while total expenditure was 10.04 lakh crores.
A fiscal deficit occurs when the government spends more than it earns.
Core industries output rises
Output of 8 core industries was up 9.4% in July 2021 when compared to July 2020.
The 8 core industries are defined as: coal, natural gas, refinery products, fertilisers, steel, cement and electricity industries.
The output for these industries had declined 7.6% during July 2020.
Coal production grew 18.7%, natural gas was up 18.9%, cement was up 21.8% and steel production rose 9.3% and in petroleum refinery production rose 6.7%.
---------------------
Covid variant C.1.2 raises concerns globally
A new covid variant C.1.2 has made headlines around the world.
The variant was first detected in South Africa in May 2021.
It has now been detected in seven other countries in Africa, Europe, Asia and Oceania, according to a non-peer-reviewed research paper.
The National Institute for Communicable Diseases in South Africa issued an alert about the “C.1.2 lineage”.
Some scientists have suggested that this variant may evade immune response, or transmit faster as compared to other variants.
However, the World Health Organisation mentioned that the variant “does not appear to be increasing in circulation”.
The WHO added that it is monitoring the variant as the virus evolves.
---------------------
Other stocks in the news
Reliance Industries: Reliance Industries is reportedly planning to acquire Norwegian solar panel maker REC Group from China National Chemical Corp (ChemChina).
Maruti Suzuki: Owing to a supply constraint of electronic components, Maruti Suzuki is expecting a fall of 60% in normal production in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat Pvt. Ltd.
Dr Reddy’s: Dr Reddy's Laboratories has launched generic Chlordiazepoxide Hydrochloride and Clidinium Bromide capsules in the US market. The capsules are used for the treatment of stomach ulcers, irritable bowel syndrome and inflammation of the colon.
Axis Bank: Axis Bank has tied up with BharatPe to expand its merchant acquiring business in India.
Kotak Mahindra Bank: Kotak Mahindra Bank announced that it will sell 20 crore shares held in Airtel Payments Bank (APBL) for a cash consideration of Rs 294 crore or more to Bharti Enterprises Ltd.
Airtel: PepsiCo India and Bharti Airtel are relaunching their co-branding pact. Prepaid users of Airtel will get up to 2GB of complimentary 4G data on purchase of Lay’s, Kurkure, Uncle Chips and Doritos snack packs.
Tata Motors: Tata Motors has launched the Tigor EV at Rs 11.99 lakh. The car is the second electric vehicle launched by Tata Motors for the personal buyer after Nexon EV.
Sensex 57,552.39 ▲ 1.16%
Nifty 17,132.20 ▲ 1.19%
---------------------
Sensex and Nifty touched all time highs today and closed at record highs. Metal, IT and pharma stocks were the top performers.
---------------------
Macroeconomic update: GDP, fiscal deficit, core output
GDP up 20% due to low base effect
India's gross domestic product (GDP) was up 20.1% during the April to June quarter in 2021.
The GDP was recorded at Rs 32.38 lakh crores as against Rs 26.95 lakh crores during the same quarter last year.
GDP had shrunk 24.4% during the January to March quarter.
The industries that expanded the most were construction: 68.3%, manufacturing 49.6% and, trade, hospitality and communication: 34.3%.
While no industry contracted, agriculture, financial services and public administration expanded the least.
Fiscal deficit
Fiscal deficit during April to July 2021 reached Rs 3.21 lakh crores.
This is 21.3% of the whole financial year's target.
Net tax receipts were at Rs 5.21 lakh crores while total expenditure was 10.04 lakh crores.
A fiscal deficit occurs when the government spends more than it earns.
Core industries output rises
Output of 8 core industries was up 9.4% in July 2021 when compared to July 2020.
The 8 core industries are defined as: coal, natural gas, refinery products, fertilisers, steel, cement and electricity industries.
The output for these industries had declined 7.6% during July 2020.
Coal production grew 18.7%, natural gas was up 18.9%, cement was up 21.8% and steel production rose 9.3% and in petroleum refinery production rose 6.7%.
---------------------
Covid variant C.1.2 raises concerns globally
A new covid variant C.1.2 has made headlines around the world.
The variant was first detected in South Africa in May 2021.
It has now been detected in seven other countries in Africa, Europe, Asia and Oceania, according to a non-peer-reviewed research paper.
The National Institute for Communicable Diseases in South Africa issued an alert about the “C.1.2 lineage”.
Some scientists have suggested that this variant may evade immune response, or transmit faster as compared to other variants.
However, the World Health Organisation mentioned that the variant “does not appear to be increasing in circulation”.
The WHO added that it is monitoring the variant as the virus evolves.
---------------------
Other stocks in the news
Reliance Industries: Reliance Industries is reportedly planning to acquire Norwegian solar panel maker REC Group from China National Chemical Corp (ChemChina).
Maruti Suzuki: Owing to a supply constraint of electronic components, Maruti Suzuki is expecting a fall of 60% in normal production in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat Pvt. Ltd.
Dr Reddy’s: Dr Reddy's Laboratories has launched generic Chlordiazepoxide Hydrochloride and Clidinium Bromide capsules in the US market. The capsules are used for the treatment of stomach ulcers, irritable bowel syndrome and inflammation of the colon.
Axis Bank: Axis Bank has tied up with BharatPe to expand its merchant acquiring business in India.
Kotak Mahindra Bank: Kotak Mahindra Bank announced that it will sell 20 crore shares held in Airtel Payments Bank (APBL) for a cash consideration of Rs 294 crore or more to Bharti Enterprises Ltd.
Airtel: PepsiCo India and Bharti Airtel are relaunching their co-branding pact. Prepaid users of Airtel will get up to 2GB of complimentary 4G data on purchase of Lay’s, Kurkure, Uncle Chips and Doritos snack packs.
Tata Motors: Tata Motors has launched the Tigor EV at Rs 11.99 lakh. The car is the second electric vehicle launched by Tata Motors for the personal buyer after Nexon EV.
Look what I shared: Vietnam lockdown adds to global coffee supply concerns - BBC News @MIUI| https://www.bbc.com/news/business-58380797
BBC News
Vietnam lockdown adds to global coffee supply concerns
Wholesale coffee prices have risen by 50% this year as supplies have been hit around the world.
Bulk Deal as on 31-08-21
Seamec Ltd
+ 1.49 Lk @ 749.18 Rashi Fincorp Ltd
Ujjivan
- 14.74 Lk @ 156 Alena Pvt Ltd
Seamec Ltd
+ 1.49 Lk @ 749.18 Rashi Fincorp Ltd
Ujjivan
- 14.74 Lk @ 156 Alena Pvt Ltd
*Ashika Global Market Update*
SGX NIFTY: +18(17140) @7:25 am *Considering Tuesday’s closing of 17122
DOW: -39(-0.11%)
Nasdaq: -6(-0.04%)
DOW FUTURES: +65(+0.18%)
HANGSENG: -16(-0.07%)
SHANGHAI COMP: +4(+0.13%)
NIKKEI: +261(+0.93%)
GOLD COMEX(USD/toz): 1815.50(-0.14%)
SILVER COMEX (USD/toz): 23.91(-0.42%)
LME COPPER(USD/MT): 9520.00(+1.17%)
LME ZINC(USD/MT): 3003.50(+0.05%)
LME ALUMINIUM(USD/MT): 2718.00(+2.59%)
BRENT CRUDE(USD/bbl): 72.99(-0.57%)
WTI CRUDE OIL(USD/bbl): 68.59(+0.13%)
USDINR: 73.00(-0.37%)
DOLLAR INDEX: 92.72(+0.08%)
US 10YRS BOND YIELD: 1.31%
INDIA 10YRS BOND YIELD: 6.21%
FII: +3881
DII: -1872
FII F&O: +3508
BSE CASH SEGMENT TRADED VALUE (Rs Crs): 6221
NSE CASH SEGMENT TRADED VALUE(Rs Crs): 83174
NSE ADVANCE/ DECLINE: 999/1001 (0.99)
Securities in Ban Period: CANBK
SGX NIFTY: +18(17140) @7:25 am *Considering Tuesday’s closing of 17122
DOW: -39(-0.11%)
Nasdaq: -6(-0.04%)
DOW FUTURES: +65(+0.18%)
HANGSENG: -16(-0.07%)
SHANGHAI COMP: +4(+0.13%)
NIKKEI: +261(+0.93%)
GOLD COMEX(USD/toz): 1815.50(-0.14%)
SILVER COMEX (USD/toz): 23.91(-0.42%)
LME COPPER(USD/MT): 9520.00(+1.17%)
LME ZINC(USD/MT): 3003.50(+0.05%)
LME ALUMINIUM(USD/MT): 2718.00(+2.59%)
BRENT CRUDE(USD/bbl): 72.99(-0.57%)
WTI CRUDE OIL(USD/bbl): 68.59(+0.13%)
USDINR: 73.00(-0.37%)
DOLLAR INDEX: 92.72(+0.08%)
US 10YRS BOND YIELD: 1.31%
INDIA 10YRS BOND YIELD: 6.21%
FII: +3881
DII: -1872
FII F&O: +3508
BSE CASH SEGMENT TRADED VALUE (Rs Crs): 6221
NSE CASH SEGMENT TRADED VALUE(Rs Crs): 83174
NSE ADVANCE/ DECLINE: 999/1001 (0.99)
Securities in Ban Period: CANBK
*Stocks to Watch in Today's Market*
Likhitha Infrastructure : The company has received order worth Rs 145.86 crore from Indradhanush Gas Grid (IGGL) for laying & construction of steel gas pipeline and terminals along with associated facilities for section 5 & 9 of North-East Gas Grid (NEGG) Project.
Asian Paints : Promoter entity Sattva Holding and Trading created a pledge on 21.78 lakh shares.
Mastek : The company partnered with fulfillmenttools to deliver modern omnichannel fulfillment solutions to customers worldwide.
Wockhardt : Promoter entities Humuza Consultants & Themisto Trustee Company Private Limited sold 18 lakh equity shares or 1.62 percent via open market transactions.
Suryoday Small Finance Bank : The bank appointed Vishal Singh as Chief Information Officer.
Tourism Finance Corporation of India : The company on September 3 will consider fund raising.
Shoppers Stop : The company exited non-core business by selling its subsidiary, Crossword Bookstores at a gross business valuation of Rs 41.62 crore and will focus on expanding core business and strategic growth pillars - First Citizen, Private Labels, Beauty and Omnlchannel business.
JB Chemicals and Pharmaceuticals : Vijay Bhatt has resigned from the services of the company and shall cease to be the Chief Financial Officer of the company.
Wipro : The company and HERE Technologies partnered to provide location-based services and analytics for customers globally.
Stocks to be added in F&O : Abbott India, Crompton Greaves Consumer Electricals, Dalmia Bharat, Delta Corp, The India Cements, JK Cement, Oberoi Realty, and Persistent Systems, which will be available for trading with effect from October 1.
*OPENING BELL*
🔔✳🔔✳🔔✳🔔
🔸Maruti Suzuki India: Expects output to plunge in September as the semiconductor shortage hits production. Total vehicle production volume could be around 40% of normal output, the company said. Vehicle production to be affected at Haryana plant and contract manufacturer, Suzuki Motor Gujarat Pvt.’s Gujarat facility. The company cited “a supply constraint of electronic components due to the semiconductor shortage situation” for the impact on production.
🔸Shoppers Stop: Approved sale of 100% equity shares held by the company in Crossword Bookstores, a wholly owned subsidiary, to M/s.Dinesh Gupta, Aakash Gupta & Family (Owners of Agarwal Business House). The business of Crossword Bookstores is valued at Rs 41.6 crore. ABH will take over all the assets and brand.
🔸BHEL: Secured order worth Rs 10,800 crore from NPCIL for EPC of Turbine Island for 6 units of 700 MWe. Six orders, received from NPCIL on August 30, envisage setting up of 4 units of 700 MWe at Gorakhpur, Haryana and 2 units of 700 MWe at Kaiga, Karnataka.
🔸Likhitha Infrastructure: Received an order worth Rs 145.86 crore from Indradhanush Gas Grid for laying and construction of steel gas pipeline and terminals along with associated facilities for section 5 & 9 of North-East Gas Grid Project.
🔸Wipro: Partnered with HERE Technologies to offer location-based services, to customers from energy & utilities, manufacturing, transport & logistics, telecom and automotive industry verticals. Wipro and HERE will jointly develop solutions in the areas of asset tracking, logistics, supply chain, smart-metering and analytics, field workforce management, and private mapping-as-a-service for indoor and outdoor real-time asset tracking.
🔸AU Small Finance Bank: Clarified on recent exits at the bank. Sumit Dhir, head of internal audit resigned due to changes in personal circumstances following Covid second wave, the bank said. Dhir continues to be on the bank's rolls as head of internal audit. The bank remains in discussions with him for a possible retention. In March, Nitin Gupta, who had been with the bank since 2015, resigned as head of internal audit. And in July Alok Gupta resigned as the chief risk officer.
🔸Mastek: The company partnered with fulfillmenttools to deliver modern omnichannel fulfillment solutions to customers worldwide.
Likhitha Infrastructure : The company has received order worth Rs 145.86 crore from Indradhanush Gas Grid (IGGL) for laying & construction of steel gas pipeline and terminals along with associated facilities for section 5 & 9 of North-East Gas Grid (NEGG) Project.
Asian Paints : Promoter entity Sattva Holding and Trading created a pledge on 21.78 lakh shares.
Mastek : The company partnered with fulfillmenttools to deliver modern omnichannel fulfillment solutions to customers worldwide.
Wockhardt : Promoter entities Humuza Consultants & Themisto Trustee Company Private Limited sold 18 lakh equity shares or 1.62 percent via open market transactions.
Suryoday Small Finance Bank : The bank appointed Vishal Singh as Chief Information Officer.
Tourism Finance Corporation of India : The company on September 3 will consider fund raising.
Shoppers Stop : The company exited non-core business by selling its subsidiary, Crossword Bookstores at a gross business valuation of Rs 41.62 crore and will focus on expanding core business and strategic growth pillars - First Citizen, Private Labels, Beauty and Omnlchannel business.
JB Chemicals and Pharmaceuticals : Vijay Bhatt has resigned from the services of the company and shall cease to be the Chief Financial Officer of the company.
Wipro : The company and HERE Technologies partnered to provide location-based services and analytics for customers globally.
Stocks to be added in F&O : Abbott India, Crompton Greaves Consumer Electricals, Dalmia Bharat, Delta Corp, The India Cements, JK Cement, Oberoi Realty, and Persistent Systems, which will be available for trading with effect from October 1.
*OPENING BELL*
🔔✳🔔✳🔔✳🔔
🔸Maruti Suzuki India: Expects output to plunge in September as the semiconductor shortage hits production. Total vehicle production volume could be around 40% of normal output, the company said. Vehicle production to be affected at Haryana plant and contract manufacturer, Suzuki Motor Gujarat Pvt.’s Gujarat facility. The company cited “a supply constraint of electronic components due to the semiconductor shortage situation” for the impact on production.
🔸Shoppers Stop: Approved sale of 100% equity shares held by the company in Crossword Bookstores, a wholly owned subsidiary, to M/s.Dinesh Gupta, Aakash Gupta & Family (Owners of Agarwal Business House). The business of Crossword Bookstores is valued at Rs 41.6 crore. ABH will take over all the assets and brand.
🔸BHEL: Secured order worth Rs 10,800 crore from NPCIL for EPC of Turbine Island for 6 units of 700 MWe. Six orders, received from NPCIL on August 30, envisage setting up of 4 units of 700 MWe at Gorakhpur, Haryana and 2 units of 700 MWe at Kaiga, Karnataka.
🔸Likhitha Infrastructure: Received an order worth Rs 145.86 crore from Indradhanush Gas Grid for laying and construction of steel gas pipeline and terminals along with associated facilities for section 5 & 9 of North-East Gas Grid Project.
🔸Wipro: Partnered with HERE Technologies to offer location-based services, to customers from energy & utilities, manufacturing, transport & logistics, telecom and automotive industry verticals. Wipro and HERE will jointly develop solutions in the areas of asset tracking, logistics, supply chain, smart-metering and analytics, field workforce management, and private mapping-as-a-service for indoor and outdoor real-time asset tracking.
🔸AU Small Finance Bank: Clarified on recent exits at the bank. Sumit Dhir, head of internal audit resigned due to changes in personal circumstances following Covid second wave, the bank said. Dhir continues to be on the bank's rolls as head of internal audit. The bank remains in discussions with him for a possible retention. In March, Nitin Gupta, who had been with the bank since 2015, resigned as head of internal audit. And in July Alok Gupta resigned as the chief risk officer.
🔸Mastek: The company partnered with fulfillmenttools to deliver modern omnichannel fulfillment solutions to customers worldwide.