Further, during Q2FY21, the total FDI inflows came in at USD 28,102 million. Out of which, equity inflows stood at USD 23,441 million or Rs 174,793 crore. With this, the total FDI equity inflow in FY21 stood at USD 30,004 million, 15 per cent greater than that of the corresponding period last year.

Bajaj Auto posted a jump in total sales by 5 per cent in November 2020, with 4,22,240 units being sold. The sale of two-wheelers jumped by 12 per cent YoY whereas, the sales of commercial vehicles (CV) dropped by 38 per cent YoY.

In Q2FY21, the company won an irrigation order worth Rs 196 crore under waterworks in UP and a mining contract in Odisha for Rs 33 crore. At this point in time, the company is majorly focussing on waterworks and expects significant new orders coming over the next few months.

During the quarter Q2FY21, the company secured orders worth Rs 7,402 crore in a joint venture, out of which, HCC’s contract share stood at Rs 3,337 crore. At the end of Q2FY21, the registered order backlog stood at Rs 18,995 crore.

Looking at the price trend, Motherson Sumi Systems has jumped approximately 195 per cent from its 52-week low of Rs 48.50 and Bajaj Auto jumped almost 73 per cent from its 52-week low of Rs 1,793.10. Similarly, Mahindra & Mahindra has jumped approximately 195 per cent from its 52-week low of Rs 245.80.

It also mentioned that the exports would continue gaining their momentum in H2FY21 and FY22E, determined by lower penetration of the exporting countries, firm crude oil prices, unsafe public transport, and infrastructure amid the pandemic situation.

It further mentioned that from a gross value-added point of view, de-growth will be 9.4 per cent in Q2FY21. It based its optimism on the development in agriculture, forestry, financial services, real estate, and professional services.

Open footwear contributes approximately 80 per cent of the company’s total revenue. The company has mentioned that the demand for closed footwear has been adversely affected in the pandemic but it's likely to gain traction going forward due to the onset of winter.

The project cost of the same is approximately Rs 501 crore. With this order win, BEML’s order book stands at Rs 4,318 crore from Rs 3,218 crore earlier.

RBI will buy three government securities of different maturity dates totalling to Rs 10,000 crore. Also, RBI will sell two securities totalling to the same amount using the multiple price auction method on November 26, 2020.

Looking at the price history, Spicejet has jumped 55 per cent, Interglobe Aviation (Indigo) has jumped 26 per cent and Jet Airways has jumped 38 per cent in last one month.

Wonderla Holidays Limited, India’s leading amusement park operator, today informed the bourses that the water rides at the theme park will be open to the public from November 20, 2020. The dry rides have already been operating since November 13th.
 

On the order book front, total order book stood at Rs 9397.38 crore as on September 30, 2020. Out of this, transport sector is the largest contributor with order book of Rs 7087.76 crore. Mining sector and Irrigation sector order book stood at Rs 1957.03 crore and Rs 352.59 crore, respectively.

The company’s total order book stands strong at Rs 1,745 crore as of September 30, 2020. Out of which, the order book from Coal India stood at Rs 601 crore, SCCL (a government-owned coal mining company) stood at Rs 442 crore while Defence stood at Rs 702 crore.

The company’s branded textile & branded apparel segment witnessed good traction in September, owing to the wedding and festive season. Currently, the company is witnessing 85 per cent-90 per cent recovery levels in The Raymond Shop (TRS) network in tier IV-VI markets, mainly driven by reverse migration, good harvest & lower COVID-19 impact.

Sales volume from plywood decreased by 11.8 per cent on a YoY basis but on a QoQ basis, it jumped by 174.5 per cent. Also, sales volume from decorative ply declined by 30.8 per cent on a YoY basis but on a QoQ basis, it jumped by 145.7 per cent.

 The demand in the metro cities remained muted during the quarter and has improved due to the festive season and pent-up demand. The revival in the automotive sector benefitted the business while infrastructure, oil & gas and power segments continued to see demand challenge.

On the volumes’ front, the company reported the highest-ever quarterly sales volume in Q2FY21. Besides, it registered a significant jump of 60.71 per cent QoQ to 61,224 MT in Q2FY21 vs 38,096 in Q1FY21.

EBITDA margin for the quarter stood at 38.3 per cent vs 40.7 per cent in Q2FY20. This margin contraction was led by a jump in the cost of materials consumed to 41 per cent as against 38 per cent in Q2FY20.

This margin expansion was supported by a significant decline in the cost of materials consumed to 18 per cent in Q2FY21 as against 30 per cent in Q2FY20.

With this capacity addition, its total capacity would surge to 840 KLPD. The total Capex for the same is estimated to Rs 320 crore for which, Rs 220 crore would be borrowed from banks and the remaining Rs 100 will be arranged via internal sources.

EBITDA margin for the quarter stood at 15.3 per cent vs 11.4 per cent in Q2FY20. This improved operational performance was supported by cost rationalisation measures implemented, which is expected to continue, going forward.

Hero MotoCorp, the world’s largest two-wheeler manufacturer, sold 8,06,848 units of motorcycles & scooters in October 2020, which is its highest-ever sales in any single month. Continuing its growth momentum, the company reported a robust sales growth of 35 per cent in October 2020 with total sales of 5,99,248 units. A positive turnaround in

In recent management commentary, the company added that they plan to spend as much as Rs 1,500 crore over the next couple of months. The aim is to expand its production capacity.

Now, the most important question is, whether one should consider this as a buying opportunity at this juncture. It is currently trading just 0.20 times of its FY20 sales. Hence, from a valuations’ perspective, the stock may look cheaper but still, a few market participants are in wait & watch mode.

Delta Corp, the largest and the only listed company engaged in India’s casino gaming industry, surged nearly 11 per cent to Rs 120 on the announcement of casino reopening in Goa and Sikkim from November 01, 2020.

This expansion would drive the revenue going ahead as the garment segment is the highest revenue contributor to the company’s total revenue with a share of 42 per cent.

Significant improvement in operating performance on a YOY basis is majorly attributable to better realisations and lower costs in both the operating segments and higher volume in the PVC resin segment.

In the recent quarter ended June 30, 2020, Alembic pharma’s consolidated revenue for Q1FY21 came in at Rs 1,341.32 crore as against Rs 948.91 crore in the corresponding quarter last year, registering a 41.4 per cent YoY increase.

Looking at the industrial front, China has a 39 per cent share in home textile exports with USD 19 billion, followed by India at 11 per cent with USD 5 billion. India, being the second largest home textile exporter as well as the largest producer of cotton in the world, is expected to benefit from this structural shift.

Looking at the revenue aspect, this project is likely to generate revenue to the tune of around Rs 1,250 crore over the next four to five years.

The company’s order book as of FY20 stood at Rs 8,100 crore translating total capacity of 950 MW.

The company’s order book as of FY20 stood at Rs 6,916 crore and going ahead, the order booking in the current year will depend upon the revival of investments in refineries, petrochemicals, and fertiliser projects.

SBI Cards & Payment Services (SBI Card) today gained nearly 4 per cent intraday soon after the festive sale began. In line with the changing shopping trends, the consumers will be given discounts as well as cashback offers, across a host of brands.

Amid the continuing rise in food prices, the inflation based on the consumer price index (CPI) jumped to an eight-month high of 7.34 per cent in September.

On the Capex front, the board has recently approved the setting up of an additional facility to produce 100,000 MTPA of Chloromethane in Dahej (Gujarat) at a projected cost of Rs 315 crore. This project would enhance the company’s industrial chemical portfolio and is likely to commence by January 2022.

The resumption of construction activities and the adoption of digital technologies would strengthen the demand for steel and make the Indian steel sector globally competitive.

On the debt front, the company’s net debt stands at Rs 70.1 crore as of September 2020 as against Rs 127.9 crore in March 2020 and Rs 217.8 crore in September 2019.

On the economic growth front, RBI said that the real gross domestic product (GDP) growth in 2020-21 is expected to be negative at (-) 9.5 per cent, with risks tilted to the downside: (-) 9.8 per cent in Q2FY21; (-) 5.6 per cent in Q3; and 0.5 per cent in Q4.

Indian yarn players have high export dependence on China (FY16 to FY19: around 30 per cent), which reduced to around 20 per cent for the three months ended June on account of lower demand and growing competition from Vietnam & Pakistan.

It concluded by saying that strong demand for the services, Indian rupee depreciation, and cost-control measures, such as salary freezes during downturns, support stable profitability.

The company witnessed substantial growth in pre-sales for Q2FY21 at Rs 200 crore, up by 98 per cent on a QoQ basis and up by 96 per cent on a YoY basis.

 There was a sharp rise in outstanding business at the companies operating in the Indian services sector at the end of the second quarter of the fiscal year 2020-21. Moreover, the rate of backlog accumulation was little-changed from August's survey record.

For FY21, it expects the revenue of its sample to decline by 18-20 per cent YoY, against the backdrop of 11 per cent contraction in GDP.

The GAP business delivered revenues of Rs 182 crore (4.7 per cent of AFL's consolidated turnover) with a PBT loss of Rs 34 crore in FY20.

According to the report, auto ancillaries with high exposure to the commercial vehicle segment are expected to continue to be the worst impacted, especially those with a higher two-wheeler, passenger vehicle, or tractor segment exposures.

On capital adequacy, the company's capital-to-risk ratio, consisting of tier I and tier II capital was 24.4 per cent as against 18.9 per cent by June 2019, which was higher than the regulatory requirement. The company's focus on non-discretionary and digital spends translated into healthy loans to Rs 23,300 crore.

TRAI Chief said while every sector has its share of ups & downs and variations, the telecom industry has steered through the troublesome period during the pandemic, handling not only the spike in demand but also the changes in the pattern of traffic, as network loads shifted from enterprise premises to homes. 

The data showed that the sectors, which attracted foreign inflows during the first quarter of 2020-21 included services (USD 1.14 billion), computer software & hardware (USD 1.06 billion), telecommunications (USD 2 million), automobile (USD 326 million), and trading (USD 426 million).

 It further said the modality of vehicle financing in a battery-swappable model, where the core battery is owned/leased by a third party and financiers only have control over the residual vehicle, is another challenge.

Despite the sales & volume growth, the price realisations and delay in the payment of subsidy remain as the key challenges to the company. Further, the lack of availability of domestic gas to fertiliser sector and increasing trend in the price of spot RLNG, volatile prices of fertilisers in the international market add vows to the company.

The company has commenced the building construction work of Destination One Mall in Nashik, against the work order, worth Rs 33 crore, awarded by Shree Sainath Land & Development (India).

In the recent quarter (Q1FY21), the company’s NPA declined by 33 bps, and credit cost declined by 552 bps QoQ. The company also beat the estimates with a jump in profit, supported by a strong net interest income (NII), lower operating expenses, and lower-than-expected provisioning.

The government is making serious efforts to boost investment in the tourism sector. In the hotel and tourism sector, 100 per cent foreign direct investment (FDI) is allowed through the automatic route.

Under this announcement, the FDI limit for defence has been increased to 74 per cent, which was earlier 49 per cent.

The retail inflation has soared beyond Reserve Bank of India’s (RBI) upper margin of 6 per cent. The Indian central bank has been instructed by the government to keep the inflation within the range of 4 per cent with a margin of 2 per cent on either side.

During FY20, the company had delivered to buyers a very large gas carrier (VLGC), which it had contracted to sell in FY 2018-19, and also, sold & delivered to the buyers a Suezmax crude carrier.

It noted that the GDP fall of about 24 per cent in the first quarter was slightly higher than its expectations of a 20.2 per cent contraction. The element, which came in as a surprise, was the growth of public administration, defence, and other services segments at (-) 10.3 per cent.

The project, with an order value of Rs 126.5 crore, is scheduled to be completed within 22 months. As of FY20, the company’s order book stood at Rs 6,916 crore.

The credit rating agency, Moody's Investors Service, has revised Bharti Airtel's credit outlook rating to stable from negative on the account of easing of competition in the telecom sector, increase in 4G customer base and mobile services rates from December.

On the other side, the global automotive industry's outlook has been changed to stable from negative. It said that the stable outlook for the global automotive industry reveals growing sales through 2021, with continued but slow increase through 2023.

Overall, the passenger traffic jumped by 19 per cent till August 31, with transporters flying over 70 lakh passengers during the period, after the reopening of services in a categorised way on domestic routes from May 25, following a two-month pause.

The floor price of the offer shall be Rs 330 per share, which is at 14 per cent discount from its previous close of Rs 384.50. This offer for sale will be open for retail investors from September 09, 2020.

Looking upon FY21 guidance, the management has stated that the revenue is likely to remain flat in FY21. Further, working capital and debt levels could rise in FY21 as compared to FY20 on account of new projects.

The floor price is set at Rs 92.58, which is at 22 per cent discount from its previous close of Rs 119.

It noted that the tariff hikes have led to the restoration of pricing power to the telcos and aided improvement in the operating metrics of the industry with growth in revenues and profit margins. 

The government has been implementing various initiatives aimed at developing the dairy sector. Besides focussing on improving cattle productivity, measures are also being taken to strengthen rural milk procurement infrastructure as well as provide superior market linkages to the dairy farmers.

Tata Power and L&T will have a scope of work in the manufacturing of Automated Gun Aiming & Positioning System (AGAPS) and 45 command posts, respectively. BEML, on the other hand, will have the work of manufacturing 330 vehicles under the stated contract.

The nation's largest gas marketer and shipper has adopted a revised strategic plan identifying priority business initiatives. This strategic plan will help the company to address its challenges in the changing industry scenarios and provide new areas for growth with geographic expansion.

On June 17, 2020, Wonderla Holidays forayed into food takeaway and home delivery division as part of its business expansion. Under this business plan, the company has launched two 'Wonder Kitchen' outlets in Bangalore since June 2020.

Market leader State Bank of India (SBI) has sanctioned Rs 23,864 crore of loans and disbursed Rs 17,599 crore. It is followed by Punjab National Bank, which has sanctioned Rs 10,348 crore.

After Glenmark, companies like Cipla, Lupin and Sun Pharmaceutical Industries also launched their own variants of Favipiravir tablets. Lupin’s ‘Covihalt’ is priced at Rs 49 per tablet while Sun Pharma’s ‘FluGuard’ is priced as low as Rs 35 per tablet, which is the cheapest in India.

Single-mode optical fibre is imported from various countries including China, Japan, the US and Korea. The major quantity is imported from China. The directorate, in its probe, concluded that the product is being imported to India in such increased quantities that it may threaten the domestic manufacturers.

It pointed out that pharma companies cumulatively witnessed their pre-tax margins rise by 306 bps on an annualised basis and 551 bps sequentially in Q1 due to the strong revenue growth in the active pharmaceutical ingredient (API) business and lower operating expenses.

This move will align the company’s operations as well as capital structure. It will also help in streamlining its financial obligations and will significantly improve credit metrics.

Out of the overall loans set to be restructured, almost 60 per cent of them were inclined to slip into the non-performing assets (NPAs) category if not for the recast move. The restructuring will help banks' bottom-line as the money to be set aside as provisions will be lower.

The company’s current order book stands at Rs 26,115.2 crore, out of which, orders worth Rs 8,910 crore have been received in FY21 and the company further expects to secure orders worth Rs 5,000 crore for the rest of FY21.

 The company had strategically acquired ‘Adda52.com’, India’s largest online poker destination in 2017. With this investment, the company has consolidated its position in India’s gaming industry.

Let’s take a look at the recent order books of the major infrastructure companies which are likely to gain with this infra push. Order book of Larsen & Toubro (L&T) as on June 2020 stood at Rs 3,05,100 crore, NCC as on June 2020 stood at Rs 27,916 crore, Ashoka Buildcon as on June 2020 stood at Rs 8,616.8 crore, NBCC as on March 2020 was nearly Rs 70,000 crore and KNR Constructions as on March 2020 stood at Rs 7,888 crore.

It further showed that, on a YoY basis, non-food bank credit growth stood at 6.7 per cent in June 2020, approximately the same as in May 2020 but lower than June 2019, where it stood at 11.1 per cent. Credit growth to agriculture and allied activities grew by 2.4 per cent in June, compared to higher growth of 8.7 per cent in the corresponding month of 2019.

The company’s order book as on March 31, 2020, stood at Rs 7,462 crore (4x of FY20 revenue), which is likely to be executed over the next two and a half years. The total order inflow so far in FY21 stands at Rs 290 crore. This inflow, combined with a healthy order book, provides strong revenue visibility.

A few other companies have also launched Remdesivir recently, which includes names like Cipla at a price of Rs 4,000 and Jubilant Life Sciences at Rs 4,700. Further, Dr Reddy is also expecting to launch Remdesivir in August 2020 and it has received a voluntary licence from Gilead Sciences to manufacture and distribute the said drug.

With the lower output of manufacturing, mining, and power generation, India's factory output, measured on the basis of Index of Industrial Production (IIP), declined by 16.6 per cent in June 2020.

The company has received USFDA nod for the additional four variants to market them in the United States. Earlier, the company had received USFDA approval for one variant of male contraceptives.

Major companies in today’s trading session are trading in the green, which includes, BEL- up by 15 per cent, Bharat Dynamics- up by 11 per cent, Solar Industries India- up by 8 per cent, Hindustan Aeronautics- up by 10 per cent, Bharat Forge- up by 7 per cent and BEML- up by 6 per cent.

The promoters have released 27 lakh equity shares, with reference to the earlier announcements. The promoters have informed the company that they have repaid Rs 58.09 crore and now the outstanding amount is Rs 5.91 crore.

During July 2020, the company has managed to achieve a healthy performance amid the current uncertain situation due to COVID-19. The company’s production and sales volume stood at 2.19 MT and 2.57 MT, showing growth by 13 per cent and 7 per cent, respectively on a YoY basis.

The company’s order book as on March 31, 2020, stood at over Rs 20,503 crore. Its order book mix comprises of T&D-54 per cent, Railways-29 per cent, Civil-13 per cent, Cables-2 per cent and others- 1 per cent.

The company is going to market this product under the brand name ‘Jubi-R’ in India. The company will make the drug available to over 1,000 hospitals providing COVID-19 treatment in India through its distribution network.

Zydus Cadila, a part of Cadila Healthcare, informed the bourses during the weekend that it has received tentative approval from United States Food and Drug Administration (USFDA) for Carbidopa and Levodopa extended-release capsules.

The company generates nearly 48 per cent revenue from the consumer electronics segment, which mainly comprises of LED TVs. During Q4FY20, the company added three new customers for this business including Toshiba. The company is in a process to enhance LED TV capacity to 4.4 million units in FY21 from 3.6 million currently.

The proceeds from this fundraising will be utilised for funding of capital expenditure, refinancing of existing loans, and other general corporate purposes.

As per CARE Ratings’ report, the rating strengths are tempered due to an increase in the debt levels, significant decline in market capitalisation, which along with high promoter pledge is expected to significantly impact financial flexibility, high working capital cycle, refinancing risk and the intense competition in the retail industry.

This is the first order win of the company for the month of July 2020. In the last month i.e. June 2020, the company had secured orders worth Rs 431.63 crore from BHEL and IIT.

The approval causes the contractual pre-commercialisation milestone of USD 20 million payable to Hatchtech Pty Limited. XEGLYZE is used in the treatment of head lice infestation in patients six months of age and older. The company is working to commercialise this product through its partners.
 

On the liquidity front, the company’s working capital cycle has also been affected by rising inventory days from 79 in FY17 to 85 in FY18 and 91 in FY19. The company’s liquidity has been harshly affected due to lockdown measures. It has applied to the lenders for a moratorium as per the RBI package as well as to the bankers for enhancement in working capital limits.

Looking at the revenue aspect, this project is likely to generate revenue to the tune of around Rs 5,000 crore over the next five to seven years. Going ahead, this would result in further strengthening the cash flow and the balance sheet of the company.

With this agreement, Biocon Biologics will become one of the first companies to offer insulins to type 2 diabetes patients after getting a clearance from United States Food and Drug Administration (USFDA).

In a letter to the company, Drug controller Dr VG Somani said that a Member of Parliament (MP) has informed that the cost of treatment from FabiFlu (Favipiravir) will come to around Rs 12,500, which is not good for the poor as well as the middle-class families.

The company has received approval to market Butalbital, Acetaminophen and Caffeine medicines in the strengths of 50 mg/325 mg/40 mg. This combination of medicines is used in the treatment of patients suffering from symptoms of tension headaches.