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Think Ahead with EZWealth – 28 Oct 2021
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News stories Today
[/vc_column_text][vc_column_text]Chip shortage may last up to two years, say Qualcomm and Intel
Leading microchip providers Qualcomm and Intel say the chip shortage might last anything between four months to a year, perhaps even two years, depending on the various product categories – mobile devices, ICE, electric vehicles, appliances, data centres.
Prakash Mallya, MD, Intel India and vice president, sales and marketing and communications group, said the spike in demand was huge, and cut across segments from PCs, phones, appliances and auto leading to the shortage. “Everyone is helping to make it better but demand remains very strong. You saw our global results, for instance. And despite Intel Inc making investments semiconductors being a long term high capital investment game, it will take at one to two year globally to address the gap,” he said. Mallya believes there will be a gap in most segments over the next 12-18 months.
Rocketing raw material costs hit India Inc margins in September quarter
A day after the second-quarter results, Sanjiv Mehta, chairman and managing director of Hindustan Unilever (HUL), India’s largest FMCG company, called upon the government to monitor inflation. Mehta has his reasons. Crude oil (according to the WTI index ) is at levels last seen in 2014. Agricultural commodities and metals have seen a surge in prices which is hurting corporate sector profits. Companies across segments such as in FMCG, steel, cement and paints are seeing a margin contraction, despite price hikes and cost cutting measures.
An analysis of September-quarter (Q2) results declared so far shows that 14 of the top 20 companies by revenue (BSE 200) reported a decline in gross margins on a sequential bases and 13 of those reported decline on a year on year basis. Some of company’s worst hit by high costs are Hindustan Unilever, Nestle, Asian Paints, Ultratech Cement and most steel companies.
Nykaa anchor book subscribed 40x on strong institutional interest
FSN E-Commerce Ventures, which owns beauty startup Nykaa, has seen 40 times more demand than shares on offer in the anchor book, said people in the know. A total of Rs 2,396 crore worth of shares are available in the anchor category. A clutch of large foreign as well as domestic funds have submitted bids worth over Rs 95,000 crore.
“Investment bankers are still collating and finalising the allotment. The process should be completed by 9pm,” said a source. Canada Pension Fund, Blackrock, Capital, Fidelity are some of the global funds that have made an application in the anchor category, added sources. Nykaa’s Rs 5,300-crore IPO opens for subscription on Thursday. The IPO price band is Rs 1,085-Rs 1,125 per share. At the upper end of the price band, the company will be valued at Rs 53,200 crore. The IPO comprises a fresh issue of Rs 630 crore and an offer for sale (OFS) of Rs 4,722 crore.
Power crisis brewing in China likely to hit Indian pharma companies
The power crisis brewing in China may throw the Indian pharma market off gear if the situation continues for a few more months, feel sources in the local industry. Indian players roughly import 66-70 per cent of their bulk drug requirements from China.
Already, prices of active pharmaceutical ingredients (APIs), raw materials to make drugs, have gone up significantly and there are delays in shipments to India. Sudarshan Jain, secretary general of the Indian Pharmaceutical Alliance (IPA), the umbrella organisation of big pharma players in India, said prices of APIs have started going up. He added that India does not have large capacities to make such fermentation-based API. He said that supplies are coming but there are delays in shipments. Global Chief Financial Officer of Cipla is of the same opinion.
India successfully test-fires surface-to-surface ballistic missile Agni-5
India successfully test-fired surface-to-surface ballistic missile Agni-5, the Ministry of Defence informed on Wednesday. The missile, which uses 3-stage solid-fuelled engine, is capable of striking targets at ranges up to 5,000 km with very high degree of accuracy. “A successful launch of the Surface-to-Surface Ballistic Missile, Agni-5, was carried out on October 27 at approximately 1950 hrs from APJ Abdul Kalam Island, Odisha,” the ministry said.
The successful test of Agni-5 is in line with India’s stated policy to have ‘credible minimum deterrence’ that underpins the commitment to ‘No First Use’. The indigenously-developed surface-to-surface missile, Agni-5, is capable of striking a target more than 5,000 km. It is about 17-metre long, 2-metre wide and has launch weight of around 50 tonnes. The missile can carry a nuclear warhead of more than one tonne. Unlike other missiles of Agni series, the latest one ‘Agni-5’ is the most advanced having some new technologies incorporated with it in terms of navigation and guidance, warhead and engine. India has at present in its armoury of Agni series, Agni-1 with 700 km range, Agni-2 with 2,000 km range, Agni-3 and Agni-4 with with 2,500 km to more than 3500 km range.[/vc_column_text][vc_column_text css=”.vc_custom_1635392522327{margin-top: 11px !important;margin-right: 11px !important;margin-bottom: 11px !important;margin-left: 11px !important;border-top-width: 3px !important;border-right-width: 3px !important;border-bottom-width: 3px !important;border-left-width: 3px !important;background-color: #d1d1d1 !important;border-left-color: #000000 !important;border-left-style: solid !important;border-right-color: #000000 !important;border-right-style: solid !important;border-top-color: #000000 !important;border-top-style: solid !important;border-bottom-color: #000000 !important;border-bottom-style: solid !important;border-radius: 1px !important;}”]
Stocks in the news today
[/vc_column_text][vc_column_text]Results October 28: Bajaj Finserv, NTPC, Tata Power, DLF, InterGlobe Aviation, Marico, RBL Bank, AAVAS Financiers, Adani Green Energy, APL Apollo Tubes, Adani Total Gas, AU Small Finance Bank, Blue Star, CarTrade Tech, Chalet Hotels, Chemcon Speciality Chemicals, Dishman Carbogen Amcis, Edelweiss Financial Services, Gujarat Gas, HSIL, Indian Bank, Infibeam Avenues, JK Tyre & Industries, Laurus Labs, Mahindra & Mahindra Financial Services, Motilal Oswal Financial Services, Reliance Infrastructure, SBI Cards and Payment Services, Sudarshan Chemical Industries, UCO Bank, UTI Asset Management Company, Welspun Corp, and Westlife Development will release September quarter earnings on October 28.
United Breweries: The company reported higher profit at Rs 80.6 crore in Q2FY22 against Rs 4 crore in Q2FY21, revenue jumped to Rs 1,426.2 crore from Rs 900.6 crore YoY.
Bajaj Auto: The company reported higher profit at Rs 1,274.5 crore in Q2FY22 against Rs 1,138.2 crore in Q2FY21, revenue increased to Rs 8,762.2 crore from Rs 7,155.9 crore YoY.
Dalmia Bharat: The company reported lower profit at Rs 209 crore in Q2FY22 against Rs 232 crore in Q2FY21, revenue rose to Rs 2,577 crore from Rs 2,313 crore YoY.
Larsen & Toubro: The company reported lower profit at Rs 1,819 crore in Q2FY22 against Rs 5,520 crore in Q2FY21, revenue jumped to Rs 34,773 crore from Rs 31,034.74 crore YoY.
IndusInd Bank: The company recorded sharply higher profit at Rs 1,146.7 crore in Q2FY22 against Rs 663.1 crore in Q2FY21, revenue increased to Rs 3,658 crore from Rs 3,278 crore YoY.
Adani Ports: The company reported lower consolidated profit at Rs 951.7 crore in Q2FY22 against Rs 1,387 crore in Q2FY21, revenue increased to Rs 3,532 crore from Rs 2,902.5 crore YoY.
Titan Company: The company reported higher profit at Rs 641 crore in Q2FY22 against Rs 199 crore in Q2FY21, revenue rose to Rs 7,170 crore from Rs 4,318 crore YoY.
Punjab National Bank: The bank reported higher standalone profit at Rs 1,105.15 crore in Q2FY22 against Rs 620.81 crore in Q2FY21, net interest income declined to Rs 6,352.81 crore from Rs 8,454.97 crore YoY.
ITC: The company reported higher standalone profit at Rs 3,697.18 crore in Q2FY22 against Rs 3,252.62 crore in Q2FY21, revenue increased to Rs 13,553.52 crore from Rs 12,103.75 crore YoY.
KEC International: The company reported lower consolidated profit at Rs 80.29 crore in Q2FY22 against Rs 142.55 crore in Q2FY21, revenue jumped to Rs 3,587.46 crore from Rs 3,257.67 crore YoY.
Aegis Logistics: The company reported higher consolidated profit at Rs 94.40 crore in Q2FY22 against Rs 56.96 crore in Q2FY21, revenue fell to Rs 635.24 crore from Rs 650.36 crore YoY.
MAS Financial Services: The company reported higher standalone profit at Rs 38.32 crore in Q2FY22 against Rs 34.20 crore in Q2FY21, revenue increased to Rs 156.46 crore from Rs 152.21 crore YoY.
Vedanta: Subsidiary Monte Cello BV (MCBV) has entered into a term sheet agreement to divest Copper Mines of Tasmania (CMT) by way of an Option Agreement with New Century Resources.
Cummins India: The company reported higher consolidated profit at Rs 221.03 crore in Q2FY22 against Rs 173.16 crore in Q2FY21, revenue rose to Rs 1,730.23 crore from Rs 1,169.99 crore YoY.
Deepak Nitrite: The company reported higher consolidated profit at Rs 254.34 crore in Q2FY22 against Rs 170.19 crore in Q2FY21, revenue jumped to Rs 1,681.35 crore from Rs 987.34 crore YoY.[/vc_column_text][vc_separator][vc_column_text]
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