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Markets Today with EZWealth – 28 Sept 2021
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”67766″ img_size=”full” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]The leading crude benchmark rose for a sixth day to hit the highest since October 2018, while West Texas Intermediate extended gains. Oil’s latest upswing has come with a flurry of bullish price predictions from banks and traders, further gains in natural gas, and speculation that the energy industry isn’t investing enough in fossil fuels to keep supplies at current levels. Oil has rallied this year as the roll-out of vaccines to combat the pandemic aids energy demand, spurring a drop in U.S. inventories.
This winter, the world will be fighting over something that’s invisible, yet rarely so vital—and in alarmingly shorter supply. Nations are more reliant than ever on natural gas to heat homes and power industries amid efforts to quit coal and increase the use of cleaner energy sources. But there isn’t enough gas to fuel the post-pandemic recovery and refill depleted stocks before the cold months. Countries are trying to outbid one another for supplies as exporters such as Russia move to keep more natural gas home. The crunch will get a lot worse when temperatures drop. The crisis in Europe presages trouble for the rest of the planet as the continent’s energy shortage has governments warning of blackouts and factories being forced to shut. Inventories at European storage facilities are at historically low levels for this time of year.
Indigo Airlines:
According to research analysts, the rising Brent crude price and no major structural capacity cut may limit the spreads (difference between revenue per available seat km and cost per available seat) of IndiGo to $0.34 in the financial year 2022-23. Entry of new players, delay in recovery in international travel, longer absence of high yielding corporate travel, and low cash balance do not provide any rationale for the increase in multiple.
Indigo stock price chart suggests that the down-move in the stock price can be continued, until it sustains above 2050 and upwards for few days. Further upside resumes after it crosses the 2220 mark.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”67767″ img_size=”large” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Multiplex stocks gained 6-8% in Monday’s trade after Maharashtra eased restrictions on movie exhibition. Maharashtra has allowed theatres to operate at full capacity from October 22 and will join other states like Karnataka and Rajasthan, which also have 100 percent occupancy. Currently most states have occupancy (50-60%) or timing or staff vaccinations restrictions. Maharashtra contributes roughly 20% of all PVR and Inox Screens and contributes 25-30% of box office collection for Hindi Movies. Expectations for increase in capacity is on the horizon as covid cases are coming down and festival season is around the corner
Inox Leisure’s stock price is down 20% from its all time high of 488 which is formed right before the pandemic. It may see resistance around 380 levels, technically speaking. Safe investors can enter after is closes above 410 levels[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”67768″ img_size=”large” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Prime Minister Narendra Modi launched the Ayushman Bharat Digital Mission, under which a digital health ID will be provided to people that will contain their health records, and asserted that it has the potential to bring revolutionary changes in healthcare. In his address after the launch, Modi said the mission marks a new phase in efforts of the last seven years to strengthen health facilities. Currently, Ayushman Bharat Digital Mission is being implemented in a pilot phase in six union territories. Its nationwide roll-out coincides with the National Health Authority celebrating the third anniversary of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana
Tens of thousands of Chinese households who bought high-yield investment risk being sucked into the spectacular unraveling of China Evergrande Group after the embattled developer missed payments on funds sold through shadow banks, which have funneled billion intro its construction projects. Some of these lenders, known as trusts, have already dipped into their own pockets to repay wealthy investors on Evergrande’s behalf.
Hang Seng, the Hong Kong index, is down 20% from its Feb’21 Highs. The clock is ticking for Evergrande to make these investors whole. The cash-strapped firm faces repayments in the fourth quarter on $1.8 billion of high yield products sold through trusts to wealthy clients and institutions. Another $4 billion is due next year. The Government has come out with public statements as well.
India’s massive fleet of coal plants are running dangerously low on stockpiles, which may force the nation to buy expensive shipments of the fuel or else risk blackouts. Stockpiles have fallen to the lowest since November 2017, data from the Central Electricity Authority showed. The South Asian nation isn’t alone in facing a fuel crisis. Buyers from the U.K to China are grappling with energy shortages as a rebound in demand outpaces supply. As inventories dry up, plants may be forced to buy expensive imported coal or pay hefty premiums at domestic auctions, said Debasish Mishra, a Mumbai-based partner at Deloitte Touche Tohmatsu. That may raise costs across an economy that’s already battling high petroleum fuel prices.
Stocks in the news:
Reliance industries is in talks to buy a stake in Indian mobile content provider, Glance In Mobi Pte. Reliance is considering investing about $300 million in the unicorn backed by Alphabet Inc.s’ Google. The transaction could be completed as soon as in the next few weeks. Glance inMobi pushes curated news and entertainment content onto phone lock screens and also runs a short-video app.
BPCL plans invest Rs 1 lakh crore over next 5 years in raising petrochemical production capacity, gas business, clean fuel, and augmenting marketing infrastructure. The company is also looking to create a 1,000 MW portfolio of renewable power generation capacity, mostly through acquisitions while also invest in biofuels and hydrogen, he added.
Allcargo Logistics is considering selling a stake in its container shipping firm ECU Worldwide. The company is working with an adviser on the sale of the stake. Allcargo is seeking a deal that would value ECU at about $1 billion
Adani Airport Holdings, a wholly owned subsidiary of Adani Enterprises, has signed share subscription agreement with April Moon Retail and its existing shareholders–Arjun Ahuja, Karan Ahuja, Aliya Ahuja and Kabir Ahuja–for the purpose of strategic partnership to operate duty free outlets in airports. Adani Airport Holdings to own 74% of April Moon Retail.
State Bank of India has signed a Service Level Agreement with Paisalo Digital, National Corporate Business Correspondent of the Bank, for promoting financial inclusion by providing banking services through kiosks.
RBI has imposed Rs 2 crore penalty on RBL Bank for contravention of norms on maintaining deposits and guidelines governing appointment of directors on board.
NTPC has won 1.9 GW solar projects under CPSU scheme.
The Websol Module has been approved by the Government of India under the list of Approved Module Manufacturer. Websol Energy System has also received approval of its module from BIS and IEC61215. The ALMM list and BIS certification has made Websol modules eligible to be sold in the domestic market for the project approved under the various schemes of the government.
Cyient was recently recognized by Amazon Web Services as a Select-Tier Consulting Partner in the AWS Partner Network
Indian Oil Corporation and its subsidiary Chennai Petroleum Corporation have started activities for the $31,580 crore refinery project ay Nagapattinam in Tamil Nadu. While both companies will hold 25% each in the proposed 9 million tonne per annum refinery, the remaining 50% will be held by a strategic financial partner, for which talks are already on. The companies have appointed SBI Capital markets for financial advisory, debt and quasi-equity syndication services for the greenfield project
Lupin is foraying into diagnostics business to leverage its ‘doctor-connect’ to tap a sector that has low entry barriers, gives high returns on capital employed, and is witness double digit growth. Lupin has already hired an experienced team with background in the diagnostics sector.[/vc_column_text][vc_column_text]
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