Nikhil Somani

Silver jumped to the highest in seven years at Rs 59615 and gold continued its march towards a record on expectations more stimulus is needed to help the global economy recover from the coronavirus pandemic. Rising gold and Silver price will be positive for Gold Finance stocks like Manappuram Finance and Muthoot Finance. #MOMarketUpdates #Indianstockmarket #commodities #safeinvestment #gold #silver

1) SBI Cards reported impressive Q1 results despite a lockdown period. Company reported Q1 Net revenue for the first quarter of Rs1137cr (up 52% YoY), Net profit Rs393cr (up 14% YoY), SBI Card approved Rising Rs1500cr via NCD over a year, SBI Card Moratorium accounts 1.5lakh in June vs 12.5 lakh in May, GNPA 1.35% vs 2.68% (YoY), operating profit Rs528cr (down 1% YoY) and provision coverage 68% vs 72% (YoY). 2) India is looking to privatise more than half of its state-owned banks to reduce the number of government-owned lenders to just five as part of an overhaul of the banking industry. The first part of the plan would be to sell majority stakes in Bank of India, Central Bank of India, Indian Overseas Bank, UCO Bank, Bank of Maharashtra and Punjab & Sind Bank, leading to an effective privatisation of these state-owned lenders, a government official said. #MOMarketUpdates #Governmentbank #SBIcards #BankofIndia #Privatisation

Tech Stocks - Northbound journey continued in the tech stocks after better than expected Q1 results announced by Infosys, HCL Tech and Wipro. Both the Tech giants Infosys and HCL Tech closed on a record high today. HDFC Bank- HDFC Bank reported Q1 net profits at Rs6660cr grew at 19.6% YoY (inline to our estimates at Rs6680cr) , NII growing at 8% YoY (3% QoQ) to Rs15660cr (expectation Rs15390cr). Other income declined 18% YoY to Rs4070cr (34% below estimates at Rs6140cr) affected by decline in fees & commission income (37% YoY/49% QoQ decline) due to lockdown . Total provisions spiked to Rs3890cr (49% YoY increase) – Expectation Rs4150cr. GNPA at 1.4% vs 1.3% (QoQ) – expectation 1.3%. NNPA at 0.3% vs 0.4% (expectation 0.4%). #MOMarketUpdates #HDFCBank #HCL #Infosys #MotilalOswal #Indianstockmarkets #nifty #sensex #nifty50 #nse #bse

Zydus received approval from COFEPRIS to conduct clinical trials in Mexico with Pegylated Interferon alpha-2b to treat novel Coronavirus. #MOMarketUpdates #Zydus #covid19vacccine #covid19 #indianstockmarket

Rally on tech stocks may continue after tech major Infosys, TCS and Wipro reported strong Q1 results. Mid-cap tech major L&T Infotech has also reported better than expected Q1 results. Infosys EBIT margin guidance (21%-23%) is again a big positive surprise in the market. #MOMarketUpdates #Infosys #TCS #Wipro #Nifty50 #Indianstockmarket #MotilalOswal

Google invests $4.5B in India's Jio Platforms, takes 7.73% stake. #MOMarketUpdates #JIO #Facebook #Google #indianstockmarket #Reliance #Nifty50 #MukeshAmbani

Airtel Allies With Verizon to Offer Video Calling in India - India’s No. 2 mobile phone carrier is allying with Verizon Communications to offer group video calling, a service that’s booming as the pandemic has made face-to-face meetings too risky for many. Bharti Airtel will provide Verizon’s Blue Jeans platform in India. Market Cap is in crs. #MOMarketUpdates #Airtel #MotilalOswal #Nifty50 #NSE #BSE #IndianStockMarket #Investing

1) CEO Sundar Pichai announced a $10b Google for India Digitization Fund to help accelerate India's digital economy, according to a company announcement. Google will invest in India over the next 5 to 7 years. 2) Yes Bank the FPO as the floor price has been set at ₹12, almost 50% lower than the market price. The stock has fallen nearly 17% from its Thursday closing. Yes Bank aims to raise fresh capital of ₹15,000 crores through the further purchase offer (FPO). Out of this, ₹200 crores worth of equity shares will be reserved for its employees. A minimum bid of 1,000 equity shares will be allowed and in multiples of 1,000 equity shares after that. 3) Reliance Industries on Monday became the first Indian company to reach a market capitalisation of above Rs12 trillion as its shares doubled since mid-March. The company will also hold its annual general meeting (AGM) this week (15th July). 4) Biocon announced that its "breakthrough drug," Itolizumab received Drugs Controller General of India's approval for its use in moderate to severe Covid-19 patients. 5) Morgan Stanley has reached a deal to lease up to 1.1 million square feet of office space for 9.5 years from Oberoi Realty. The campus will be located in Goregaon, at the company's Commerz III building and will be ready in 2023. #MOMarketUpdates #Google #YesBank #Reliance #Biocon #MorganStanley #indianstockmarket #equity #stocks #NSE #Nifty50 #BSE #MotilalOswal

Reliance is witnessing smart rally after the news that the BP and Reliance Industries completed a new Indian fuels and mobility joint venture. BP paid Reliance $1bn for a 49% stake in the JV, with the Indian company holding the remaining 51%. The venture expects to expand from RIL’s current fuel retailing network of over 1,400 retail sites and 30 aviation fuel stations across India to as many as 5,500 retail sites over the next five years. Reliance surged over 3% to closed at Rs1881 amid 2.1cr shares traded on NSE. #MOMarketUpdates #Reliance #Stockmarket #bullish #MotilalOswal #investment