Share Market LIVE: Indian indices could open in the red as indicated by SGX Nifty

India’s benchmark indexes could open in the red following fragile global markets after a much-anticipated US inflation report turned out to be even worse than expected, bolstering bets that the Federal Reserve could become more aggressive with its rate-tightening move. U.S. equity futures struggled on Thursday as Asian markets traded mixed

14 Jul 2022, 08:40:23 IST

The benefit of falling global crude prices for import-dependent India

Falling crude oil prices on fears of a looming global recession could help offset inflationary risks in the economy, halt the rupiah’s freefall, boost corporate margins and slow the pace of increases interest rates, analysts said.

Crude prices continued to fall on Wednesday after a massive sell-off the day before, when prices fell around 8% to break above $100 a barrel for the first time in three months, on concerns over a slowdown global economy and the increase in covid cases in China. (Read more)

14 July 2022, 08:31:58 IST

Mitul Shah, Head of Research, Reliance Securities on Mindtree Q1FY23 Earnings

# Mindtree delivered a strong performance in 1QFY23 with an EBIT margin of 19.2%, 75 basis points above our estimate of 18.4%.

# Revenue increased 4% QoQ/29% YoY in USD to $399m, 0.7% above our estimate of $397m (consensus $399m of dollars). Sequential growth at constant exchange rates was 5.5% versus 3.7% according to our estimate. (consensus 4.9%)

# EBIT increased by 9% from the previous quarter (up 47% YoY) to Rs 5.9 billion, while EBIT margin was 19.2% (in up 23 bps quarter-on-quarter / 144 bps year-on-year), 75 bps above our estimate of 18.4% and 85 bps above the consensus estimate of 18.3%.

# Its net profit came in at Rs4.7 billion (fixed QoQ / up 37% YoY), while adjusted net margin came in at 15.1% vs our estimate of 15.2% . Net profit was impacted by lower non-operating profit, which fell 45% year-on-year and 56% quarter-on-quarter to 395 million rupees.

Our point of view: The company delivered strong performance in 1QFY23, beating our estimates across all metrics. We expect the company to post healthy revenues thanks to a strong deal pipeline and strong order book. Revenue contribution from top clients increased 110bps QoQ to 26%, which is high compared to the mid-cap peer group. At the moment we have a sell rating on the stock.

14 Jul 2022, 08:22:48 IST

Stocks to watch: Mindtree, Tata Power, Infosys, Dabur, JSW Energy and others

ACC, Angel One, GTPL Hathway L&T Infotech, Tata Elxsi and Tata Steel Long are some of the companies that will also be in the spotlight when they report their June quarter results on Thursday. (Full report)

14 Jul 2022, 08:14:56 IST

Indian markets could remain under pressure on Thursday

Benchmark Sensex and Nifty stock indices could open in the red and remain under pressure amid choppy global markets. Domestic markets reversed early gains to close lower for the third day on Wednesday as oil and gas, banking and IT stocks sold off.

The 30-stock BSE Sensex fell 372.46 points or 0.69% to close at 53,514.15, while Nifty 50 ended down 0.6% at 15,966.65.

Jul 14, 2022, 08:02:13 AM IST

Fed report says inflation ‘substantial’ but signs of moderation

The Federal Reserve said price increases have remained “substantial” in the United States in recent weeks, although some regions have seen signs of slowing inflation, amid indications of slowing demand. and growing fears of a recession.

While economic activity “has grown at a modest pace overall since mid-May,” several Fed regions “reported increasing signs of slowing demand,” and some Contacts noted “concerns about an increased risk of recession,” the Fed said Wednesday in its Beige Book report, usually released two weeks before each policy-setting Federal Open Market Committee meeting.

The Fed report came hours after another government release showed June consumer prices rose 9.1% from a year earlier, the fastest in more than four decades. . (Bloomberg)

14 July 2022, 07:51:40 IST

Crude price close to $96 a barrel

Oil fluctuated near $96 a barrel as U.S. inflation data raised fears of more aggressive interest rate hikes, while high gasoline prices begin to weigh on sentiment. consumption.

U.S. West Texas Intermediate crude for August delivery was at $95.93 a barrel, down 37 cents, or 0.4%, after rising 46 cents in the previous session.

14 Jul 2022, 07:42:27 IST

Asian markets mixed, US futures in trouble

U.S. stocks and equity futures struggled on Thursday after U.S. inflation data toughened expectations of more aggressive monetary tightening from the Federal Reserve that could lead to a recession.

An Asian stock gauge dipped amid declines in China and mixed performance in Japan and Hong Kong. The S&P 500 and Nasdaq 100 contracts lost around 0.5%. Japan’s Topix index added 0.1%; South Korea’s Kospi index fell 0.3%; The Australian S&P/ASX 200 index gained 0.4%; China’s Shanghai Composite Index fell 0.4%; Hong Kong’s Hang Seng index loses 0.1%

14 Jul 2022, 07:30:58 IST

Wall Street ends lower overnight

US stocks ended lower on Wednesday as an outrageously hot US inflation report rattled financial markets, bolstering bets that the Federal Reserve could become even more aggressive with its rate-tightening move.

The S&P 500 ended down 0.4%. The Dow Jones Industrial Average fell 0.7%, while the Nasdaq composite fell 0.2%, erasing most of an early 2.1% loss.

Download the app to get 14 days of unlimited access to Mint Premium absolutely free!

About Troy McMiller

Check Also

Wall Street rallies for its best week since June on rate hopes

NEW YORK (AP) — Wall Street racked up more gains Friday on its massive one-day …