Stocks in the News Highlights (09-July-2021)
1) The 10-year U.S. Treasury yield was down 3.4 basis points at 1.287% after dipping below 1.25%, its lowest since February. The U.S. Labor Department said initial jobless claims rose to 373,000 from an upwardly revised 371,000 in the seven days ended July 3. Economists had looked for claims to drop to 350,000.
U.S. stocks closed lower on Thursday, as falling bond yields reflected investor concern that a resurgence of COVID cases in some countries may slow the global economic recovery.
2) AMFI June Report: Mutual Funds Inflows:
Money continued to flow into mutual funds in June 2021, though at a slower pace.
The total assets under management of the mutual fund industry jumped to Rs 33.66 lakh crore as on June 30 from Rs 33.05 lakh crore as on May 31.
The number of systematic investment plans (SIP) in various schemes of mutual funds went up to 4.02 crore in June 2021 compared to 3.88 crores in May 2021.
The contribution from SIP also went up to Rs 9,155 crore in June 2021 from Rs 8818 crore in May.
The equity funds got an inflow of Rs 5,988 crore in June 2021, down from Rs 10,082 crore in May.
Debt fund net inflows stood at Rs 3,566 crores in June as against outflows of more than Rs 44,000 crores.
Four new schemes were launched last month, of which 2 were equity funds and 2 index funds.
3) The consolidated net profit of Tata Consultancy Services (TCS) was reported at Rs 9,008 crores during the April to June (Q1) quarter of the financial year 2021-22.
This is a 28.5% rise from the same quarter last year and a 2.6% decline from the January to March quarter.
The net profit has missed analyst estimates which had predicted a net profit of around Rs 9,500 crores.
4) China’s consumer price index for June rose 1.1% as compared with a year ago. China’s top executive body surprised investors late Wednesday by saying the central bank would stimulate the economy by cutting the amount of funds banks need to hold in reserve. This policy signal suggests the economy likely slowed in June. On Monday, the China Association of Automobile Manufacturers said passenger car sales in China likely fell 14.9% in June from a year ago.
5) Indian stock market benchmarks indices closed with steep losses on Thursday. The Nifty finally lost 151.75 points or 0.96% to close at 15,727.9.
7) Sun Pharma Advanced Research Company (SPARC) on Thursday said it has raised over Rs 1,112 crores by issuing warrants to the company's promoter Dilip Shanghvi and other entities.
8) HDFC Bank said it has spent Rs 634.91 crores towards ‘Parivartan’, the umbrella program for all corporate social responsibility initiatives, in FY21.
9) Axis Bank: NIIT Institute of Finance Banking and Insurance - a subsidiary of NIIT, and Axis Bank have launched a FinTech Professional Programme under the Axis Bank - NIIT Digital Banking Academy.
10) L&T: Larsen & Toubro Infotech has completed the acquisition of Cuelogic Technologies.
11) Reliance Industries Ltd (RIL) is looking to buy Norwegian solar module maker REC Group as part of the oil refiner’s Rs 75,000 crore push into clean energy. Reliance plans to set up the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar at the company’s annual general meeting last month.
12) Private equity (PE) companies TPG Global, Apollo Global, and Carlyle Group among other private equity giants are in early talks with debt-laden Vodafone Idea (Vi) to invest in the telco’s optic fibre and data centre assets worth about US$ 1bn.
13) CDSL first depository with 4 crore Demat accounts: Central Depository Services (India) Limited (CDSL), the second Indian central securities depository based in Mumbai, has become the first depository to open more than four crore active Demat accounts. CDSL maintains and services 4 crore Demat accounts of investors or beneficial owners (BOs) spread across India. These BOs are serviced by CDSL’s over 580 depository participants (DPs) from over 20,600 locations.
14) Tyre exports from India grew by 10 per cent in value terms in 2020-21 to touch Rs 14,097 crore, industry body Automotive Tyre Manufacturers Association (ATMA) said.
15) Sanofi and GSK have received approval for their Phase 3 clinical study in India to assess the safety, efficacy and immunogenicity of their adjuvanted recombinant-protein COVID-19 vaccine candidate. The global, randomised, doubleblind Phase 3 study will include more than 35,000 volunteers aged 18 and older across sites in the US, Asia, Africa, and Latin America, Sanofi said.
16) Hindustan Unilever Limited (HUL) has launched its first ‘Smart Fill’ machine an in-store vending model for its home care products with the aim to reuse, reduce and recycle plastic. This initiative offers consumers an innovative option to reuse their plastic bottles by refilling products from HUL’s brands like Surf Excel, Comfort and Vim.
17) Shriram Transport Finance Company (STFC) said that it has received Rs 312.50 crore from its promoter Shriram Capital Finance in lieu of allotment of preference shares and warrants.
18) Foreign investors turned net sellers of Japanese shares for the first time in three weeks on concerns about the economic strain from the resurgence of coronavirus infections and the extension of restrictive measures to contain the pandemic. Foreigners sold Japanese stocks worth a net 581.29 billion yen ($5.27 billion) last week.
19) Listed IPOs:
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