HDFC plans to sell at least Rs20bn 5-Year bond at 7.99% - Positive for HDFC at lower interest rate.
Government may sell up to 5% stake in ONGC, Coal India in FY20 - Both Coal India and ONGC declined 3-5% yesterday after the news. We are positive on Coal India and ONGC on account of strong balance sheet and attractive dividend Yield
Voltas tie up part of EESL Delhi plan to distribute ACS - Positive for Voltas
JSW Steel Q1 crude oil production declined 3% YoY at 4.24mn tons - We are long term positive on JSW Steel
Sparc gets Orphan drug designation for Leukemia treatment - Positive for Sparc
Themis Medicare update on litigation - FDA direct Themis not to manufacture a "Key product'. Themis Medicare intends to file petition against FDI order - Negative on Themis Mediacre
Supreme Court orders status quo on Bharti-Tikona merger for 15 days - Merger will be positive on Bharti Airtel
Supreme Court Vodafone’s Rs21bn Bank Guarantee Refund - Court agrees to hear govt’s plea challenging an order to refund Vodafone‘s bank guarantee - Avoid Vodafone Idea, poor balance sheet and fall in subscriber.
HDFC Bank Q1 update - Deposits grew ~18% YoY aggregating to ~INR9.5t as on June 30, 2019 (vs 9.2t +3.4% QoQ) with a CASA Ratio of ~40% (41.7% as on 1QFY19 and 42.4% as on 4QFY19). Loans & Advances grew by ~17% YoY aggregating to ~INR8.3t as on June 30, 2019 (vs INR8.2t +1.2% QoQ). During the quarter ended June 30, 2019, the Bank purchased loans aggregating INR72.3b (vs 19.24b in 4QFY19) through the direct assignment route under the home loan arrangement with HDFC. We are positive on HDFC Bank, strong balance sheet and growth
Jindal Steel Q1 FY20 - Q1FY20 Sales volume at 1.51mnt up 16% YoY, Q1FY20 Production Volume at 1.57mnt up 17% YoY. It is also reported that this is the ever highest production produced by any of the BFs in India - Strong sales volume growth will be positive on Jindal Steel. It may reflect its Q1 results. We are positive on Jindal Steel.
Hindustan Copper to consider rising up to Rs14bn via QIP - Positive
Bonus – GAIL (ex-bonus 1:1), Dividends – Can Fin Home, Gruh Finance, ICICI Prudential, South India Bank, Board Meetings – TCS, AGM – RBL Bank. Results - TCS