The duo bought additional shares in pharmaceutical companies Lupin and Jubilant Life Sciences, along with Agro Tech Foods and NCC during Q2FY21
It said the company had tweaked leave accumulation only up to Q2 (FY21) end, and only as an interim measure.
Total liabilities of the government increased to Rs 107.04 lakh crore at end-September 2020 from Rs 101.3 lakh crore at end-June 2020, official data on public debt showed on Wednesday. This represented a quarter-on-quarter increase of 5.6 per cent in Q2 FY21. Public debt accounted for 91.1 per cent of total outstanding liabilities at end-September 2020, as per the latest quarterly report on public debt management.
Not surprisingly, equity investors are bidding-up stock prices across sectors and the broader market is now more valuable than pre-Covid levels.
The recent surge in crude oil prices could shave off the gains made by India Inc in profit margins in the past few quarters. Worse, it comes at a time when consumer demand in the country is slipping and major global economies are witnessing a slowdown. A back-of-the-envelope calculation suggests that the margin expansion accounted for three-fourths of the rise in the listed firms' operating profit between the April-June quarter (Q1) of FY23 and Q1FY24, and only a quarter of profits gains came from revenue growth.
Reliance Industries may report a muted performance for the April-June quarter of FY24, with most brokerages expecting it to have witnessed a year-on-year (YoY) and quarter-on-quarter (QoQ) contraction in revenue and net profit during the period because of a poor showing by its oil-to-chemicals (O2C) division. The O2C division, which includes refining and petrochemical businesses, accounts for a little over half of RIL's revenue and profit. A muted showing by RIL in the first quarter of 2023-24 may weigh on the overall corporate earnings, as well as the equity markets.
The company, which in the previous quarter announced former Capgemini top executive Thierry Delaporte as its new chief executive officer and managing director, is looking at improving its performance in coming quarters.
A weak economy coupled with rising Covid-19 cases and inflation that is above RBI's comfort zone, geopolitical developments, and upcoming India Inc's second quarter results for FY21 could impact sentiment, analysts say.
Analysts attribute the surge to a host of factors, particularly the interest shown by the retail investors in these two market segments.
However, the SBI report said it will take almost seven-quarters from Q4 FY21 to reach the pre-pandemic level in nominal terms and there will be a permanent output loss of around 9 per cent of GDP.
Over the three-month period, Airtel's stock price has rallied from Rs 432 to Rs 540, while Vodafone Idea has risen from Rs 9.2 to Rs 11.8 per share.
While analysts remains overweight on financials, property, discretionary, industrials and materials, they maintain a neutral stance on pharma, telecom and energy; and underweight on staples, utilities, and IT services.
There is positive correlation between crude oil prices and Indian equities and investors can expect more upside after the recent rally in Brent crude price.
'Spends are likely to increase from the current levels because recovery is yet to fully be over.'
Rising prices of international coal - both coking and thermal - used in the making of ferrous and non-ferrous metals, respectively, are expected to have an impact on margins of metals companies in July-September quarter (Q2) as steel companies may see margins getting eroded, while the base firms could stand to benefit, said brokerages.
'The economy is expected to bounce back and things are expected to recover faster than what we previously thought.'
