RIL contributes to market fall but Infy gains hold still as 18 of 30 Sensex stocks end the day in the red
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Global financial system still at risk of liquidity stress, market shocks: FSB
The global financial system remains vulnerable to further liquidity stresses and a potential "sudden and sharp" market repricing as economies continue to reel from the COVID-19 pandemic, the Financial Stability Board (FSB) warned on Wednesday.
YES Bank’s Rs 15,000 crore FPO subscribed 22 per cent on day 1
Private lender YES Bank’s follow-on public offer (FPO) to raise up to Rs 15,000 crore was subscribed 22 per cent at the end of first day of the bidding process, data from NSE showed on Wednesday. The portion reserved for qualified institutional buyers (QIBs) was subscribed 55 per cent, while that for non-institutional and retail investors was subscribed 4 per cent and 9 per cent, respectively.
Here’s who bought and sold what in some of the key bulk and block deals of the day. L&T Finance bought 12,80,52,000 shares of Ballarpur Industries from Vistra ITCL India at Rs 1.46 per share. Arvindbhai Nandlal Dattani bought 84,000 shares of Add-shop Eretail at Rs 34.10 per share, while Shashank Pravinchandra Doshi sold 80,000 shares of the company at the same price.
In our previous note, we had not only mentioned about the possibility of the market seeing a pullback, but also the possibility of a selloff at higher levels. While trading precisely on the expected lines, Nifty saw a strong start to the session. It got even stronger as the day progressed and moved past the 10,800 mark.
Dow Jones jumps at open on Goldman's profit beat, vaccine hopes
Wall Street's main indexes opened sharply higher on Wednesday after Goldman Sachs delivered a strong quarterly profit, while promising early data for a potential COVID-19 vaccine boosted hopes of an economic recovery. The Dow Jones Industrial Average rose 367.22 points, or 1.38 per cent, at the open to 27,009.81.
Sebi relaxes compliance norms for entities planning to list debt securities
Markets regulator Sebi on Wednesday eased compliance norms for entities planning to list debt securities, including non-convertible debentures and commercial papers, on account of the coronavirus pandemic. In a circular, the regulator said it has decided to permit listed issuers who have issued non-convertible debentures (NCDs), non-convertible redeemable preference shares (NCRPs) and commercial papers (CPs), on or after July 1 and propose to list such securities on or before July 31 to use available financials as on December 31, 2019.
Telcom stocks drag
Investors kept on dumping telecom stocks as the regulator blocked premium plans of Bharti Airtel and Vodafone Idea and later the tribunal refused to grant any immediate relief. Bharti Airtel slumped 4.24 per cent to Rs 564.15 while Vodafone Idea dropped 7.39 per cent to Rs 8.65. The BSE Telecom index slid 3.63 per cent at the end of the day.
Fresh investment in RIL to be made only on dips: Religare Broking
"With so much development on the Jio platform mainly on the digital side as well as well-known strategic partners as investors, it has the potential to become a truly global company, offering solutions to clients worldwide. Going forward, RIL plans to strengthen and grow retail and O2C business are also an encouraging sign. On the financial side, it has a health balance sheet, net debt-free status, strong management and promising growth prospects across businesses. We remain positive on the company’s long term growth plans and would advise investors to hold the stock for healthy returns. Fresh investment in RIL to be made only on dips," said Religare Broking.
Expect volatile market swings on both sides, but global markets resilience to limit downside: Ajit Mishra, Religare Broking
"It was a roller coaster ride for the markets as the benchmark swung sharply on both sides and finally ended on a flat note. In the first half, the buoyancy of the global markets led a firm start which further strengthened as the day progressed. However, significant selling pressure witnessed in the latter half due to weakness in banking stocks and a sharp decline in the index heavyweight Reliance Industries. The Nifty index corrected nearly 200 points from day’s high and ended flat at 10,618 levels. The broader markets too followed suit as both midcap and smallcap ended lower by 0.4% and 0.1% respectively. On the sector front, the IT sector was the top gainer whereas Telecom, Oil & Gas and Realty were the top losers. We’re seeing a tussle between the bulls and bears for the last couple of sessions and we feel it would be healthy if the market witnesses some correction after the recent surge. However, the resilience of global markets would help the index to limit the downside. Amid all, stocks may continue to witness volatile swings on both sides thus traders have no option but to position themselves accordingly," says Ajit Mishra, VP - Research, Religare Broking Ltd.
Nifty may see selling pressure if it breaches 10,550 support level: Sahaj Agrawal, Kotak Securities
“Nifty50 has been consolidating in the range of 10,550-10,900. Mixed activity was seen across sectors. FMCG, IT and Metals trade strong while banking remains weak. Nifty has strong support at 10,550, above which it trades strong. Only a breach of the same is expected to invite selling pressure. Advice traders to remain long with mentioned support at 10,900/11,100 levels on the higher side," says Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities.
This is how the Sensex moved in today's session. The 30-pack index tounched a high of 36,810.25 and a low of 35,894.96 to finally settle at 36,051.81
CLOSING BELL: Late selloff in RIL cuts Sensex gains to 19 points; Nifty stays above 10,600; IT stocks jump up to 6%
RIL contributes to market fall but Infy gains hold still
18 of 30 Sensex stocks end the day in the red
Index contributors: Infosys, TCS, HUL, HCL, ITC
Top Index gainers: Infosys (6.16%), HCL Tech (4.77%), TCS (2.86%)
Top Index losers: Bharti Airtel (4.24%), RIL (3.71%), ONGC (1.49%)
S&P BSE Information Technology biggest sectoral gainer, up 4.89%
S&P BSE Telecom biggest sectoral loser, down 3.63%
Volume toppers: RIL, Bajaj Fin, Infosys, Axis Bank, SBI
BREAKING: RIL sheds over Rs 75,000 crore m-cap since start of AGM; stock tumbles further, down 6%
RIL's commitment for a cleaner future
To meet these twin challenges, i) impact of Climate Change and ii) access to clean and affordable energy; the energy industry must understand that fossil fuels and renewables are not mutually exclusive or contradictory.
The first three Industrial Revolutions were based on fossil fuels which disturbed the natural Carbon Cycle on Planet Earth. The Fourth Industrial Revolution has the opportunity to repair and restore the Carbon Cycle.
Mother Nature is our best teacher. She wastes nothing and recycles everything.
This can be achieved by making CO2 as a recyclable resource, rather than treating it as an emitted waste.
While Reliance will remain a user of crude oil and natural gas, we are committed to embracing new technologies to convert our CO2 into useful products and chemicals.
Mukesh Ambani lists out path ahead for RIL's O2C business
Our O2C business has competitive feedstock streams that are the building blocks for specialty and new value chains of Acetyls, Acrylates, Phenols and Polyurethanes.
Reliance has been approached by global companies for strategic partnerships in its petrochemical business, including in utilizing these feedstocks.
These potential partnerships will help us build competitive manufacturing capacity at our existing sites to serve the deficit Indian market that still depends on large-scale imports of chemicals.
With this we will have an integrated and competitive Oil to Chemicals portfolio which is valuable to global companies as it provides access to the large and growing Indian market.
Due to unforeseen circumstances in the energy market and the Covid-19 situation, the deal has not progressed as per the original timeline.
Our equity requirements have already been met.
Nevertheless, we at Reliance value our over two-decade long relationship with Saudi Aramco and are committed to a long-term partnership.
Reliance’s long-term vision, beyond O2C and re-imagining of our entire energy platform.
RIL down over 4.5%. This is how the stock has moved in today's session
Sensex erases over 750 points gains, slips into the red; RIL tanks over 4%
Mukesh Ambani updates shareholders on O2C business
Business and consumer activity had come to a halt leading to unprecedented demand destruction and dislocation of margins.
Despite that, all our manufacturing facilities continued to operate at over 90% capacity utilisation.
During India’s lock-down, we leveraged our deep understanding of global markets and successfully enhanced our petrochemical and fuel exports by over 2.5 times in just two weeks.
In April 2020, O2C business accounted for nearly 50% of India’s exports.
India’s first Butyl Rubber plant, places us amongst the world’s top ten producers of Butyl Rubber.
We are accelerating the rollout of JioMart: Mukesh Ambani
We have successfully piloted our JioMart grocery model with kirana partners and are piloting the beta version of the JioMart grocery customer online platform in 200 cities.
JioMart is obsessed with providing convenience and a superior shopping experience to consumers.
Mukesh Ambani at RIL AGM: We are India’s largest and most profitable retail business. Reliance Retail is the fastest growing retailer in the world, and the only Indian Retailer to feature in the Top 100 global retailers.
Partnership with Facebook
Announced in April 2020, the partnership between Reliance Industries and Facebook will empower the country digitally, businesses and entrepreneurs. The projects will open opportunities for the commerce and retail sector in the country. India has more than 60 mn small merchants, they will be benefitted from the opportunities created by the partnership.
This is what the Jio-Google deal will entail
The Jio-Google partnership is determined to make India 2G-mukt.
Google and Jio are partnering to build a smartphone Operating System in India.
To help accelerate the migration of 350 million Indians, who currently use a 2G feature phone, to an affordable smart phone.
Jio commited to provide affordable 4G devices to more than 300 million feature phone users in India.
JIOPHONE still remains the world’s most affordable 4G phone.
Google and Jio will build an Android OS for India; to also develop 4G and even 5G mobiles
Jio to unite producers, customers and kiranas through Jio Mart
Jio Mart is built to digitally enable Kirana stores and empower them
Jio also to have an healthcare app; to help India's heatlhcare sector
Sensex off 500 points form day's high, now up only 200 points; RIL down 0.2%, Airtel about 3%
Jio Meet to help virtual hangouts and formal meetings and create a secure way to connect
RIL pares gains, up 0.2% as RIL AGM underway.
Reliance unveils Jio Glass, to support 25 applications; aims to create significant revenues from digital solutions
Jio to launch 5G in India next year; Jio Platforms to develop captive intellectual property, invites startups to join forces
Massive 5G PUSH! Jio has designed and developed 5G, an home grown, made in India solution, from scratch, says Mukesh Ambani at RIL AGM
RIL's big plan for next three years
Reach over half a billion mobile customers
Reach over a billion smart sensors
Over 50 million homes and business establishments
Ambani at AGM: Consumer businesses continue to deliver hyper growth. The segment contributes around 35 per cent of consolidated EBITDA
Looking to add only strategic partners to Jio Platforms, says Ambani
Mukesh Ambani at RIL AGM: Earnings from OTC and upstream business decline due to challenging market environment. Yet, consolidated performance was up 10% over the last year due to strong growth in retail and digital services business.
BREAKING: Google to be strategic partner in Jio Platforms; to invest Rs 33,737 crore for 7.7% stake, says Mukesh Ambani at RIL AGM
RIL's contribution to Indian economy unmatched. RIL is also one of India's highest payer of income tax at Rs 8,368 crore. RIL is India's highest tax payer with Rs 69,372 crore in GST and VAT payments, says Mukesh Ambani
RIL the first Indian company to cross Rs 1,00,000 crore Ebitda: Mukesh Ambani
Mukesh Ambani at RIL AGM: Jio Meet downloaded by 5 million within days
The corona crisis is the most disruptive event in the modern human history: Mukesh Ambani
Company has taken all the feasible steps to ensure shareholders are provided an opportunity to participate in AGM: Mukesh Ambani
Mukesh Ambani addresses shareholders at RIL first first virtual AGM
Ambani,63, delivered on most other things he had pledged at the last AGM, boosting investor confidence in the stock, and sending the fortunes of both RIL stock and promoter Ambanis soaring through the past 11 months.
RIL AGM to begin shortly. Track this page for all live updates.
Here are the top gainers in the auto sector
Price as on 15 Jul, 2020 01:30 PM, Click on company names for their live prices.
S&P BSE Information Technology biggest sectoral gainer, up over 5%. This is how the index stocks are doing
Wipro shares rally over 19% after Q1 earnings
Shares of Wipro on Wednesday jumped over 19 per cent after the company posted an increase in consolidated profit to Rs 2,390.4 crore for the quarter ended on June 30, 2020. The stock zoomed 17.70 per cent to Rs 264.90 on the BSE. On the NSE, it jumped 19.42 per cent to Rs 268.70.
Only 5 stocks in the 30-pack Sensex trading in the red
Price as on 15 Jul, 2020 12:17 PM, Click on company names for their live prices.
S&P BSE SENSEX surges over 700 points. This is how the 30-pack index moved in the morning session
Forex Center: This is how the major currencies are faring against each other
Most tourism and hospitality stocks trading in the green; Westlife, Delta Corp, Lemon Tree gains 5% each
Price as on 15 Jul, 2020 11:43 AM, Click on company names for their live prices.
JUST IN: Escorts gives final approval to the proposal for capital reduction
Govt gives go ahead to electricity derivatives, forward contracts
Electricity will now be traded as other commodities with forward contracts and derivatives on exchanges as the government issued an order permitting the same, a move experts say can transform power contracting in India.
Maruti recalls 1,34,885 units of WagonR, Baleno to fix faulty fuel pumps
Price as on 15 Jul, 2020 11:11 AM, Click on company names for their live prices.
Infosys gains 3% on Vanguard deal win; all eyes on Q1 nos
Shares of Infosys climbed 3 per cent in Wednesday's trade after the IT major signed a large multi-year contract with Vanguard. The deal size, however, was not disclosed. Following the development, the stock rose 3.42 per cent to hit a high of Rs 810 on BSE. Through the partnership, Infosys will assume day-to-day operations supporting Vanguard’s DC recordkeeping business, including software platforms, administration, and associated processes, the IT firm said.