Daily Market Analysis – 8th June 2021 (Mutual Funds)
Franklin Templeton AMC slapped with a fine of 5 crore; Banned from launching new debt mutual funds The SEBI has banned Franklin Templeton AMC from launching debt schemes for the next two years. Rs 5 crore penalty has been levied for “several irregularities” in the running of its six debt schemes that were wound up in April 2020. The irregularities extend to failures to exercise adequate...
Daily Market Analysis – 4th June 2021 (Flipkart)
3 Years after exit, SoftBank looking to reinvest in Flipkart SoftBank Vision Fund has held discussions with Flipkart to invest around $600-700 million, three years after the Japanese group exited the Indian online retailer by selling shares to Walmart Inc. This would mean that Flipkart will stay on as a private company for longer than what was being earlier talked about going Public early...
Daily Market Analysis – 3rd June 2021 (Tesla)
Tesla preparing its India arrival The EV makes is closely following changes in GST that may reduce the cost of owning an electric car. Tesla is recruiting its India leadership and senior-level roles as it gears up to break into one of the world’s emerging car markets. Tesla has picked up Karnataka to set up its first plant. Under PLI manufacturing incentive will keep on rising. Major...
Daily Market Analysis – 2nd June 2021 (Share)
Reliance Industries Ltd share prices may jump 45%, which are already up 10% in 3 days The rally in RIL share may continue if current Petrochemical spreads sustain, this will result in Re-Rating of Oil to Chemical stake sale by RIL, which may drive the stock price up by 45% from current levels. The polymer spreads are at decade highs, helped by strong downstream demand from industries...
Daily Market Analysis – 1st June 2021 (GDP)
India’s GDP grows 1.6% in fourth quarter, contracts 7.3% in FY 20-21 Amid the coronavirus pandemic, India’s gross domestic product (GDP) grew at 1.6% in the January-March quarter of fiscal year 2020-21, but witnessed a contraction of 7.3 per cent for the entire fiscal year. This is the first full-year contraction in the Indian economy in the last four decades since 1979-80,...
Daily Market Analysis – 28th May 2021(RBI)
RBI Annual Report The RBI’s balance sheet grew 6.99% YOY to Rs. 57.07 trillion, while the rise in assets was due to an increase in foreign and domestic investment by 11.48 and 13.75%. The bank’s income declined 0.96% YOY as it transferred a surplus of Rs. 99122 crores to government, it fell to Rs. 1.33 trillion. Total expenditure decreased by 63.1%. The stock market bubble has been a worry...
Daily Market Analysis – 27th May 2021 (Gold)
Gold is still ‘relatively cheap’ and could surge back toward its all-time high Gold is still a “relatively cheap” investment opportunity and could keep rising even if it soon topped $1,900 per troy ounce, one strategist said Thursday. TD Securities head of global strategy Richard Kelly told CNBC’s “Street Signs Europe” that “gold had a phenomenal run-up over the course of last year, and...
Daily Market Analysis – 26th May 2021 (Bonds)
HDFC to raise up to ₹7,000 crore by issuing bonds HDFC is looking to raise up to ₹7,000 crores by issuing secured redeemable non-convertible debentures (NCDs) with a base size of ₹5,000 crores and an option to retain oversubscription of up to ₹2,000 crores. The issue of the bonds opens on May 28, 2021, and will close on the same day. The mortgage lender will offer a coupon rate of 6% p.a...
Daily Market Analysis – 25th May 2021 (Growth)
SBI’s corp loan book hints at a change in market growth dynamics- India’s largest lender, State Bank of India, posted a total corporate credit growth of 2.6% in FY21, including loans and debt investments such as bonds and commercial papers; however, if only loans are considered, SBI’s corporate book contracted 3%. Indian banks are realizing that to be able to see any...
