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2023

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夜上海论坛

Rupee may depreciate further this week amid strong dollar, risk aversion in markets, consistent FII outflows

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By Raj Deepak Singh Rupee depreciated in the last week reaching new record low amid strong dollar and risk aversion in the global markets. Further, rupee skid on persistent FII outflows and on fears that economies may tumble into recession. Furthermore, India’s CPI data showed inflation remained above 7% for a third consecutive month and stayed higher than RBI’s comfort zone. Dollar index rallied amid expectations that US Federal Reserve will hike rates faster than its peers to tackle soaring inflation. Further, dollar advances on risk aversion in the global markets and hawkish statement from a Fed official. Further, world …

夜上海论坛

Asian shares mixed after China says growth weakened in 2Q

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Share prices were mixed in Asia on Friday after China reported its economy contracted by 2.6% in the last quarter as virus shutdowns kept businesses closed and people at home. U.S. futures and oil prices edged higher. The Shanghai Composite index lost 0.8% to 3,254.74. Australia’s S&P/ASX 200 dropped 0.8% to 6,596.90 and the Hang Seng in Hong Kong declined 1.9% to 20,347.96. Official data showed the Chinese economy shrank by 2.6% compared with the January-March period’s already weak quarter-on-quarter rate of 1.4%. Compared with a year earlier, which can hide recent fluctuations, growth slid to a weak 0.4% from …

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HUL Q1 results preview: Profit, income to jump on-year but margins to be under pressure despite price hike

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Hindustan Unilever (HUL) will report its quarterly earnings tomorrow, where analysts expect the FMCG major to report an on-year growth in revenue and net profits, however, margins are projected to remain under pressure. The growth in revenue will be backed by a price hike undertaken by the company and growth in volume, which will in turn aid the net profit. However, with raw material prices continuing to remain elevated, margins are likely to take a hit. HUL is an FMCG major selling foods, beverages, cleaning agents, personal care products, water purifiers, and other fast-moving consumer goods. The share price of …

阿拉爱上海

Kasrawad Madhya Pradesh Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

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As anticipation mounts for the upcoming Kasrawad Constituency Election in Madhya Pradesh, voters are eagerly awaiting the big battle that kicks off with the announcement of key dates by the Election Commission of India. Here, we provide you with essential details about the Kasrawad Constituency Assembly Election 2023 that every voter should be aware of. Kasrawad Constituency Madhya Pradesh Assembly Election 2023: Voting Date The voting date for the Kasrawad Assembly Constituency Election 2023 has been officially announced by the Election Commission. As per the ECI, Kasrawad Assembly Constituency will go to polls on November 17. Stay tuned for updates …

上海龙凤419

HDFC Bank Q1 net profit soars 21% on-yr to Rs 9,579 cr, NPAs fall; results meet estimates

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HDFC Bank reported a 20.9% on-year jump in consolidated net profit to Rs 9,579 crore in the April-June quarter, close to what analysts on Dalal Street had estimated. India’s largest private sector bank recorded a 14.5% jump in Net Interest Income (NII) to Rs 19,481 crore. Analysts had expected the lender to post robust quarterly earnings growth. The total credit cost ratio was at 0.91% as compared to 1.67% for the year-ago period. Gross NPAs were at 1.28% of gross advances in the April-June period as compared to 1.47% in the same period last year. HDFC Bank’s results show an …

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Brent falls below $98/bbl; rupee just shy of 80 vs US dollar

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Brent crude fell to $97.5 per barrel on Thursday, its lowest level in four-and-a-half months, brightening the prospects of an improvement in India’s macro-economic parameters and government finances and a lessening of its external-sector vulnerabilities. Softening of oil prices — many analysts expect the near-prospects to be benign as the likely US rate hike later this month could hit demand — could cool inflation, lend significant support to the falling rupee, thanks to lower forex outgo on import of assorted commodities and curb budget spend on explicit subsidies. Meanwhile, the rupee lost another 24 paise on Thursday to hit yet …

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Impact on imports: Global factors causing rupee fall against dollar

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Finance minister Nirmala Sitharaman on Monday said global factors such as the Russia-Ukraine war, soaring crude oil prices and tightening international financial conditions are the major reasons for the weakening of the rupee against the dollar. For the first time, the domestic currency dropped below the psychological 80-mark against the dollar in intra-day trade on Monday, before ending the session 16 paise lower at 79.97. The minister said currencies such as the British pound, the Japanese yen and the Euro have weakened more than the Indian rupee against the US dollar. Therefore, the Indian rupee has strengthened against these currencies …

上海后花园论坛

Sensex snaps losing streak to end in green, Nifty regains 16000; will bulls rally next week?

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Bulls turned out victorious in Friday’s battle on Dalal Street as headline indices and broader markets closed with gains. At close, S&P BSE Sensex was up 344 points or 0.65% at 53,760 while NSE Nifty 50 ended at 16,049, up 0.69%. Hindustan Unilever was the top gaining stock on Sensex, up 2.86%, followed by Titan and Maruti Suzuki India. Tata Steel, Power Grid, and HCL Tech were the laggards. Bank Nifty ended 0.09% higher while India VIX fell 4% to settle at 17.6%. Rupak De, Senior Technical Analyst at LKP Securities– Palak Kothari, Senior Technical Analyst, Choice Broking- “Nifty has …

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US Stocks: Wall St set for stronger open; Citi shines after results

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Wall Street’s main indexes were set for a stronger open on Friday as upbeat retail sales data allayed some concerns about an economic slowdown, while Citigroup’s shares surged after quarterly results. The third-largest U.S. bank jumped 4.9% before the bell as strong trading activity in the second-quarter helped offset a slump in investment banking.Wells Fargo fell 0.7% as it set aside more money to cover potential loan losses. Investors are jittery over a potential 1% Federal Reserve rate hike at the end of July after grim inflation reports this week highlighted that price pressures were unabated in June. Calming some …

阿拉爱上海

Institutional investors dissent resolutions of Delhivery, Havells India, shows data

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Institutional investors dissented four resolutions each of supply chain firm Delhivery and electrical goods company Havells India, with more 50% of votes cast, even as they supported 89 motions with 100% majority. Further, they also supported 26 motions with over 99% of votes polled. Delhivery’s resolutions, all employee stock option plans, were voted against with 72% of institutional shareholders’ votes. The motions of Havells India, all of them employee stock-purchase schemes, were voted with upwards of 50% votes, according to data compiled by proxy advisory firm Institutional Investor Advisory Services India (IiAS). However, all resolutions were approved by the total …

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