Markets

Covid-19 ends retail loan boom for India’s banks

• Banks will face their toughest year in terms of loan growth as retail loans go for a toss
• A swift increase in retail loan growth would be hard to come by, at least in FY21

Gold prices today fall for second time in 3 days but silver rates surge

• Gold rates have remained choppy in India over the past few days
• But silver rates have surged over last few days on optimism that reopening of economies will spark a revival in industrial demand of the metal

Markets seen steady as govt announces unlocking plan; Yes Bank in focus

• The family of Yes Bank's late co-founder Ashok Kapur--Madhu Kapur, Shagun Kapur Gogia, Gaurav Kapur and Mags Finvest--decided to give up their status as the bank's promoters

Stocks to Watch: Yes Bank, Kotak Bank, TCS, IDBI Bank, Infosys, Adani Power

• Kotak Bank has raised ₹7,442.5 crore through a qualified institutional placement of shares
• Adani Power will consider a proposal to delist its entire equity shares from the BSE and NSE

Lockdown alters traders’ schedules

The lockdown has forced traders to rework entire protocols, starting from working hours to workspaces

GDP data indicates India came wounded to coronavirus battle

• The economy needs direct fiscal stimulus rather than a roundabout way to giving relief as seen so far
• The full effect of the nationwide lockdown will manifest in the first quarter of FY21

Markets may see relief rally in June as lockdown partially eases

India’s economic growth data, released on Friday evening, slumped to 3.1% in the March quarter, the slowest pace in 11 years

Slowing growth but expensive valuation, fund managers not buying India story

• At current levels, Sensex is at 17 times of its one-year forward earnings while MSCI EM is at 13.24 times. India’s premium over emerging markets has fallen to 28.39% from its peak of 67.53% in May last year

Gold prices remain choppy, silver surges ₹1,500 in a day

• Easing of coronavirus related restrictions has also improved outlook for industrial demand of silver
• Gold prices will remain supported due to increased tensions between US and China, say analysts

Markets looking to consolidate as the economy gradually opens up

• The broader market has been playing catch up with the Nifty, despite some of these companies being hit hard
• While the Nifty 50 is just about 2.84% away from its April 30th highs, the Nifty Mid-cap 100 and the Nifty Small-cap 100 are about 1.7% and 1.8% away from there

Sebi warns TCS for inadequate investor disclosure in Epic Systems case

• The regulator warned to be careful while dealing with disclosure of material information in the future and ensure that details provided are adequate, accurate, explicit and timely

RIL rights entitlement  ends 46.7% up in seven sessions

• RIL RE ended trading at ₹221.75 on BSE on Friday, down 2.29% from its earlier close
• This was the first time that shareholders could freely trade their rights entitlement on a stock exchange platform, since Sebi allowed the same earlier this year

After Vedanta, Adani Power to now consider delisting

• The power generation firm’s board is set to meet on 3 June to consider the delisting proposal
• Adani Power’s share price has halved from a high of ₹73.75 to the current level of ₹36.40

SUN Pharmaceutical Industries share price up 3.53% at closing today

The S&P BSE Healthcare was up 2.3%

Rupee posts first weekly gain in four weeks against the US dollar

• A weak US dollar and foreign fund inflows boosted the rupee
• Some analysts however say that overarching trend for the rupee looks weak

As virus impedes growth, Quess Corp steps up focus on cost optimization

The performance was driven by the workforce management division, which registered strong double-digit revenue growth. New customer additions led to growth

What market experts say after Sensex surges 1,800 points in 3 days

• Indian markets may see a pause after the recent surge but the bias would remain on the positive side, say analysts
• For the week, Sensex logged on gains of about 6%

TVS Motor's shares down over 3% as March quarter profit slumps 43%

• Total income declined nearly 17% from the year-ago quarter to ₹4,128.67 crore. It reported profit before tax of ₹114.83 crore compared with ₹217.19 crore during Q4FY19