- Zoom earlier led a rally in companies well-positioned for stay-at-home orders, while Apple pulled the S&P 500 Index to an all-time high.
- The dollar erased losses as data showed U.S. manufacturing expanded last month at the fastest pace since 2018.
- China’s top leaders next month will lay out their economic strategy for the next five years that will include a new ambition to ramp up domestic consumption and make more critical technology at home.
- Tesla will sell as much as $5 billion in shares “from time to time” through an agreement with several banks, according to a regulatory filing Tuesday. Tesla plans to use the proceeds to strengthen its balance sheet and for general corporate purposes as Chief Executive Officer Elon Musk makes the most of surging demand from retail investors for the company’s shares.
- The euro edged further down from $1.20, a level it breached for the first time in over two years Tuesday.
- SC to continue hearing Loan Moratorium matter Today
(Keep BANKS / NBFCs ON RADAR/RETAIL, Hotel, and other sectors that have been hit by Lockdown)
Govt has made a list of sectors who will get the benefit of Moratorium extension for 2 yrs.
- GST collections for August 2020 were Rs 86,449 crore.
AUTO Sales figures for August 2020:
- Maruti- 1.24 lakhs
- HeroMoto- 5.8 Lakhs
- TVS- 2.87 Lakhs
STOCK WISE NEWS
Telecom Stocks: Supreme Court AGR judgment said that 10% upfront payment due by March 2021 is on total dues. This indicates that those telcos who have already paid 10% or more of total dues will have to make their next payment in 2022.
Coal India: Monthly shipments rise for the first time in six months. Offtake up 9.3% to 44.34 MT. Production up 7.1% at 37.17 MT. Coal Minister Prahlad Joshi said that the company will invest over Rs 1.22 lakh crore by 2023-24 on projects related to coal evacuation, infra, exploration and clean coal technologies.
Jubilant Life Sciences: The company seeks nod to roll out Remdesivir tablet: According to the proposal, the company is exploring the possibility of launching 20 mg sublingual tablets.
NMDC: Iron ore sales in August up 20% to 1.79 MT from 1.49 MT last year. Iron ore production up 15% to 1.62 MT from 1.41 MT
Manali Petrochemicals: DGTR Recommends Anti-Dumping Duty On Flexible Slabstock Polyol Imports From UAE & Saudi. Manali Petrochemicals Approached DGTR On Acrylic Fibre Imports.
Vardhaman Acrylics: DGTR Recommends Anti-Dumping Duty On Acrylic Fibre Imports From Belarus, EU, Peru, Ukraine. Vardhman Acrylics, Others Approached DGTR On Acrylic Fibre Imports
MAX HEALTHCARE Q1FY21
- Reported numbers for the first time post listing
- Revenues down 42% at Rs.610cr vs 1059cr
- EBITDA loss at Rs.22cr vs profits of 117crs
- The loss at Rs.355cr vs profits of Rs.9cr
- Occupancy for Q1 FY21 was 45.1% vs 72.4%
- Gradual recovery visible with June occupancy at 59%
- Cash & cash equivalents at Rs.371cr
- Board Approves Raising Up To Rs.1,200 Cr Via QIP & Rs.550 Cr Via NCDs
CLSA On AGR Verdict
- Vodafone Idea’s burden is enormous but no spectrum payments are due for 18 months.
- The sector will remain an oligopoly with the Infratel-Indus Tower merger underway
- The industry will likely await the final AGR demands from the Department of Telecom
- To cover AGR, Vodafone Idea will need an ARPU of ~Rs 200 and has announced fund raising
FII bought 486 cr