India On The Moon
Good Evening,
India's gross domestic product (GDP) for the first quarter, i-e the April-June quarter of the ongoing financial year accelerated to 7.8 percent, showed data shared by the Ministry of Statistics and Programme Implementation on Thursday. The equity market ended higher on the first day of September led by Energy and Metals. Earnings stay UBS had a ‘historic’ $28.8B Q2 profit thanks to its Credit Suisse acquisition, and China is trying to boost its economy and currency.
Let's dive in.
Markets:
Gold falls Rs 100; silver plunges Rs 400
Sensex rallies 556 pts; Nifty above 19,400; BHEL soars 11%, Maruti Suzuki 3%
Indian bond yields rise after debt auction, end week lower
Suzlon Energy is among the top 10 smallcap stocks that soared up to 45% in August
Most Adani group stocks end higher; mcap rises over Rs 13,500 crore
Eurozone bonds seek direction as markets scale back ECB hike bets
S&P 500, Nasdaq fall as jobs data boost fades; streaming firms weigh
Oil driven higher by tight supply expectations
BSE: Co increases buyback offer price from 816 rupees to 1080 rupees per share
Earnings:
Q1 results point at strong earnings growth outlook for FY24: HSBC
Adani group EBITDA grows 42% YoY in Q1, net profit surges 70%
Indel Money Q1 Results: Profit jumps 63% QoQ to Rs 21 crore
Bajaj Auto: August total sales 3,41,648 units vs. est: 3,32,000
M&M: August auto total sales 70,350 units vs. est: 65,000
Atul auto: August total sales 2,610 units vs. 1,950 UNITS (YOY)
NMDC: cos production of iron ore in August 3.41MT VS 2.48MT(YOY) || cos sales of iron ore in August 3.54MT VS 2.83MT(YOY)
Maruti Suzuki: Total sales: 189000 VS ESTIMATE OF 184000 units
Tata Motors: August total sales 78,010 units vs. est: 81,400 units
Coal India sales grew by 15% YOY
TVS MOTORS: August total sales 3,45,848 units vs. est: 3,33,250 units
Headline Roundup:
India GDP Quarterly (YOY) (Q1) Actual: 7.8% VS 6.1% Previous; EST 7.8%
India June Farm sector growth at +3.5% (YOY) || India's June Qtr Manufacturing Growth sector at +4.7% (YOY) - GOVT
India Weather Official: India could receive average rainfall between June-September
India Infrastructure output: (YOY) (JUL) Actual: 8.0% VS 8.2% Previous
Reliance: Co unit in talks with investors to RAISE $2.5B by September 30
Mumbai records decadal best as the city registers over 10,550 PROPERTIES, registering a 23% jump in stamp duty of INR 790 CRS: KNIGHT FRANK
Govt to tap districts for enhancing exports: DGFT
Govt launches GST reward scheme in 6 states, UTs; Rs 30 crore corpus for prize money
India's GST collections up 11 per cent in August
India's manufacturing activity at 3-mth high in August, cost inflation at a 1-yr high
Nomura raises India's FY24 GDP growth forecast to 5.9%
India makes sweeping changes in ministries from aviation and telecom to parliamentary affairs
Growth prospects remain solid for next year, says CEA
Core sector growth eases marginally to 8% in July
Indo-US task force set up to elevate electronics trade to $100 bln in next decade
India's April-July fiscal deficit at Rs 6.06 lakh crore, widens on-year to 33.9% of FY24 aim
Deal Flow:
- M&A / Investments:
Kylie Jenner explored buying back a 51% stake in Kylie Cosmetics she sold to beauty company Coty for $600M in 2020
McLaren Applied’s e-mobility unit agreed to acquire bankrupt Dutch e-bike maker VanMoof
ABFRL: Co says completed acquisition of 29% stake in TCNS clothing
Nazara Tech: Zerodha founder Nikhil Kamath To buy about 3.5% stake in co
Temasek-backed UST takes over MobileComm
Malaysia's IHH to buy out remaining stake in Global Hospitals
Subway sold to US PE firm Roark Capital: Report
GIC, ADIA-backed Greenko's promoters seal over $200-mn takeover
- IPO:
Pramara Promotions IPO subscribed 44% on first day of bidding
Kahan Packaging IPO to open on September 6, issue price at Rs 80 per share.
Arkade Developers files draft papers for Rs 430-crore IPO
Basilic Fly Studio IPO: Offer subscribed 26.08 times on Day 1
Rishabh Instruments IPO booked 31.65 times on final day
Jupiter Life Line Hospital fixes price band at Rs 695-735 a share for IPO
Sungarner Energies shares see 3-fold jump on listing day, close at Rs 262
Aeroflex Industries shares close with 51% gains on debut
CPS Shapers IPO sees stellar response from investors, subscribed 236.67 times on final day
Jupiter Life Line IPO to open on September 6; closes on September 8
- VC:
Gulf Digest: Startups Lyvely, Rewaa, Maly raise early-stage funding
India Inc's biggest LP's portfolio crosses $600 mn; tops up ex-Goldman, GE exec's fund
CIIE-backed gradCapital floats second micro-VC fund to bet on student startups
Early-stage startups CredRight, ShipEase, MyWays.ai raise funding
VC-backed retail-tech firm Arzooo plans fresh fundraise
MediBuddy grabs $18 mn more from Quadria, other investors
Lightspeed backs Markato in its first Hong Kong investment
Nexus-backed Apollo.io amasses $100 mn to enter unicorn club
Tech / Startup:
Zepto's unicorn round sole bright spot as funding winter persists in August
Byju’s delays Rs 45-50 cr payments to Salesforce and other data management tools
Fidelity marks up SoftBank-backed Meesho's fair value by 14% after markdown in April
SoftBank may exit Zomato fully after selling 1.17% in a block deal
Dunzo further delays salary payments to October as funding talks make little progress
WhiteHat Jr CEO Ananya Tripathi resigns, in another top-level exit at Byju's
PhonePe entered the stock broking business with the launch of Share.Market app
Big fish land in tech’s talent pool amid layoff woes
Donald Trump returns to social media site X, formerly Twitter, with a mug shot post
Chandrayaan 3: No eclipsing this landing as the entire nation erupts in joy
WestBridge Capital Co-Founder buys sea-view luxury pad in Mumbai’s Worli for Rs 96 cr
Uber brings back ride-sharing; launches ‘Group Rides’ for users headed to the same destination
Tech firms are slowing layoffs but still not yet resuming hiring
Macro:
UBS flags cost cuts after $29B Credit Suisse windfall
US health officials want to loosen marijuana restrictions.
Stagflation dangers stalk Europe as markets eye end to hikes
Tesla reportedly facing DOJ, SEC probes over plans to build Elon Musk a large glass house
Banks get tough on return to office laggards after summer break
Europe’s biggest oil company quietly shelves a radical plan to shrink its carbon footprint
Carbon credit market confidence ebbs as big names retreat
China ramps up campaign to boost fragile economy, currency
Barclays is setting aside balance sheet cash for private debt push
Shopify stock pops after company strikes ‘Buy with Prime’ deal with Amazon
Taylor Swift, Beyonce and ‘Barbenheimer’ are lifting consumer spending this quarter
Airline stocks come down to earth as earning outlook darkens
63% of workers unable to pay a $500 emergency expense
NYC Pension CIO sees little impact from Wall Street ESG pullback
China’s economy shows fresh weakness in factories, housing consumer spending
Oil demand in US topped pre-covid levels in May and June
Ukraine counteroffensive pierces main Russian defensive line in southeast
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