Today's Top Trending Share Market News
Today's Latest Trending Share Market News
RBI meet, PMI data, companies' earnings to guide market this week: Experts ← Click the Link for details
The domestic equity market in this coming week will be driven by a host of key developments like RBI monetary policy, macro-economic data release and corporate earnings, analysts said.
At the start of the week, the market will also take cues from July auto sales numbers which signal a recovery in the sector hit hard by Covid-19.
Source: Business Standard
Rise in number of first-time buyers, additional purchase over Covid: Maruti ← Click the Link for details
The percentage of first-time buyers and additional car buying have increased in the midst of the Covid-19 pandemic as customers prefer personal mobility over public transport, according to a senior official of Maruti Suzuki India.The company also believes that while vehicle sales have improved in July, the outlook for festive season will depend on how the health crisis pans out, and the long-term vehicle demand will also depend a lot on the fundamentals of the economy.
Source: Business Standard
Discoms' outstanding dues to power gencos rise 47% to Rs 1.33 trn in June ← Click the Link for details
Power producers' total outstanding dues owed by distribution firms rose over 47 per cent year-on-year to Rs 1.33 trillion in June 2020, reflecting stress in the sector.Distribution companies (discoms) owed a total of Rs 90,655 crore to power generation firms in June 2019, according to portal PRAAPTI (Payment Ratification And Analysis in Power procurement for bringing Transparency in Invoicing of generators).
Source: Business Standard
India To Expand Scope Of MSME Loan Guarantee Scheme ← Click the Link for details
India will widen the scope of a government-guaranteed rescue package for small businesses, including raising the threshold to avail loans under the scheme, to help them tide over the corona virus crisis.According to the current structure of the Emergency Credit Line Guarantee Scheme, small businesses with turnover of up to Rs 100 crore can avail additional 20% of their outstanding loans up to Rs 25 crore as on Feb. 29. The government will now increase the threshold of loans from Rs 25 crore to Rs 50 crore, a statement by Financial Services Secretary Debasish Panda said.
Source: Bloomberg quint
RBI policy, Q1 earnings, auto sales, dollar among key factors that may guide Dalal Street this week ← Click the Link for details
The Reserve Bank of India's money policy review, macro-economic data and June quarter earnings are likely to emerge key drivers for Dalal Street in the week ahead.Benchmark equity indices snapped a six-week winning streak last week amid weak global cues after a devastating GDP print for the US economy, US-China tensions and a surge in Covid-19 infections the world over.
Source: Economic Times
Six of 10 most valued companies lose Rs 1.38 lakh cr in market valuation ← Click the Link for details
Six of the 10 most valued companies witnessed a combined erosion of Rs 1,38,839.83 crore in their market valuation last week with Reliance Industries and HDFC Bank emerging as major losers.During the last week, Sensex fell 522.01 points or 1.36 per cent.The market valuation of Reliance Industries Limited NSE -1.98 % (RIL) plunged by Rs 50,239.78 crore to Rs 13,10,323.21 crore.
Source: Economic Times
Ashok Leyland may prove to be the dark horse in auto space: Abhimanyu Sofat ← Click the Link for details
Both Ipca Lab and Laurus Labs have done pretty well. Structurally, companies like Laurus Labs are in a different phase of growth going forward. Looking at their management's con-call, clearly, they've talked about margins being sustainable going ahead. It's very heartening for us as we can be confident of the growth on top of the line. Ipca lab is likely to be a key beneficiary going forward in terms of sourcing due to the kind of integration that they have related to other companies.Some of the other companies might face challenges on this front.
Source: Economic Times
Microsoft in advanced talks to buy TikTok's US business as Trump mulls ban ← Click the Link for details
Microsoft is in advanced talks to buy the US operations of TikTok, the popular Chinese-owned video app that has been a source of national security and censorship concerns, according to a person familiar with the discussions who spoke only on condition of anonymity because of the sensitivity to the negotiations.The potential deal would be a victory for both companies, making Microsoft Corp. a major player in the social media arena and providing relief to TikTok and its parent company, Bytedance Ltd, a target of President Donald Trump's.
Source: Business Standard
July GST revenue slides 14% ← Click the Link for details
Gross Goods and Services Tax revenue slid 14% last month to ₹87,422 crore, from the ₹1,02,083 crore collected in July 2019, data released by the Finance Ministry on Saturday show. Receipts were also almost ₹3,500 crore less than June’s collections.
Source: The Hindu
Tractor makers report higher sales in July ← Click the Link for details
The automobile sector may be struggling with CÓVID-19-related issues but July saw a rise in tractor sales.Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES) reported a 27% growth in the sales of tractors to 25,402 units.
Source: The Hindu
Mobile companies commit Rs 11,000 cr investment under PLI scheme: ICEA ← Click the Link for details
Industry body ICEA, which represents top mobile phone makers like Apple, Foxconn, Wistron, Lava, etc, on Saturday said companies have committed investments worth Rs 11,000 crore under the PLI scheme and they will surpass manufacturing estimates by 2 to 2.5 times.Major global players Samsung Wistron, Pegatron, Foxconn and Hon Hai and Indian companies such as Lava, Dixon, Micromax, Padget Electronics, Sojo, UTL and Optiemus have applied for benefits under the production-linked incentive (PLI) scheme.
Source: Business Standard
Two-wheeler sales show recovery in July; firms dispatch 769,045 units ← Click the Link for details
Two-wheeler makers reported a brisk month-on-month sales and narrowed the year-on-year decline in July substantially, the sales data released by two-wheeler companies on 1 August revealed.
Source: Business Standard
Hinduja Global Solutions profit dips 17.8% to Rs 44.8 cr in March quarter ← Click the Link for details
Hinduja Global Solutions (HGS), the BPO arm of the diversified Hinduja group, has posted a decline of 17.8 per cent in consolidated net profit at Rs 44.8 crore in the March 2020 quarter.
Source: Business Standard
Wholesale auto sales make comeback in July, 88% jump for Maruti over June ← Click the Link for details
Maruti Suzuki, India's largest passenger car manufacturer, on Saturday announced that it had sold 108,000 units in July, 88.2 per cent more than June 2020.The numbers are dispatch from the manufacturer to their dealers and don’t reflect retail sales.
Source: Business Standard
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