MORNING UPDATE JULY 1ST 2021

 MORNING UPDATE JULY 1ST 2021 

HAVE YOUR TEA AND GET UPDATED ON THE MARKET NEWS

OPEN YOUR DEMAT ACCOUNT USING THE LINK: https://bv7np.app.goo.gl/nNRb13x8ujx3ekQb6

BUY YOUR FIRST CRYPTO BY USING THE LINK:  https://coinswitch.co/in/refer?tag=N8JC




Indices at previous closing

Nifty50: 15,721 ▼ -26 (-0.1%)
Sensex: 52,482 ▼ -66 (-0.1%)
Nifty Bank: 34,772 ▼-238 (-0.6%) 

In the news

Vodafone Idea’s loss widens

  • The cash-strapped telecom operator’s loss widened to ₹7,022 crore in the Q4 from ₹4,532 crore in Q3. The revenue also fell by about 12% sequentially primarily due to the removal of interconnect usage charge from 1 January this year. 
  • The Average Revenue Per User also declined to ₹107 in March 2021 from ₹121 in Q3. The company’s gross debt currently stands at ₹1.8 lakh crore including ₹60,960 crore as AGR (Adjusted Gross Revenue) dues to the government. Meanwhile, the shares of Vodafone Idea fell by 0.5% on Wednesday. However, the results were announced after market hours. 

SpiceJet’s Q4 loss decreases 

  • The Delhi-based airline reported a 34% year-on-year contraction in standalone revenue from operations at ₹1,877 crore for the March quarter. The drop in revenues was due to a near halving of air transport revenues but was aided by a marked improvement in cargo revenues.
  • Meanwhile, the company’s loss narrowed to ₹257 crore as compared to ₹816 crore in Q4FY20, mainly due to a foreign exchange gain and higher other income. The company plans to raise funds upto₹ 2,500 crore for long long-term growth sustainable operation. The stock fell 1.4% yesterday, but the results came after market hours.

Sunteck Realty posts profitable Q4

  • Mumbai-based luxury real estate developer Sunteck Realty reported a ₹10 crore profit for the March quarter compared to a loss in the same quarter last fiscal. The performance was supported by a 120% year-on-year growth in revenue from operations to ₹191 crore.
  • Despite the strong results, its stock fell nearly 4% yesterday. Maharashtra-based developers had seen a rise in sales towards the end of FY21 on the back of the stamp duty cut. However, now that the concession is out of the way, their performance in FY22 will be watched out for – especially in the context of the second wave. 

Key data releases this week

Thursday: Nikkei Markit Manufacturing PMI, Trade Balance

Sectoral indices (30 June)

Top gainersTop losers
Nifty IT
▲ 0.6%		Nifty Media
▼ 0.7%
NA

 

Nifty Bank

▼ 0.6%

Global markets (at 8:00 am)

IndicesToday's movement
SGX Nifty▼ 0.0%
Nikkei 225
(Japan)		▼ 0.4%
Hang Seng
(Hong Kong)		▼ 0.5%
SSE Composite (China)▼ 0.0%
Dow Jones (US)
(30 June)		▲ 0.6%

 

Fact of the day

Around 250 alligators have been removed from Disney properties in Florida over the last five years after a two-year-old boy was killed by an alligator in 2016.

Location: Bengaluru, Karnataka, India

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