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Gold Jewellery Demand in June Quarter, Bharti Airtel Q1 Results, and Top Buzzing Stocks Today
Fri, 31 Jul Pre-Open | Monish Vora, TM Team

Indian share markets ended deep in the red yesterday.

At the closing bell yesterday, the BSE Sensex stood lower by 335 points (down 0.9%). The NSE Nifty closed lower by 101 points (down 0.9%).

The BSE Mid Cap index ended down by 0.4%. The BSE Small Cap index ended down by 0.5%.

On the sectoral front, losses were largely seen in the telecom sector and oil & gas sector.

Speaking of the current stock market scenario, individual investors who have missed the rally in stocks over past three months are trying to catch up. They believe that since they missed the bus then, they should make up for it by buying the stocks that look cheap now.

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The problem is that most of the stocks that apparently look cheap are undervalued for a reason. And blindly buying into them could be fraught with risk.

In her latest video, Tanushree Banerjee talks about how cheap and high dividend yield stocks could be value traps.

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Top Stocks in Focus Today

Dr Reddy's Laboratories will be among the top buzzing stocks today as the company touched a 52-week high of Rs 4,525 yesterday. The buying came a day after the company reported a 12.6% year-on-year (YoY) drop in consolidated net profit at Rs 5.8 billion for the quarter ended June 2020 (Q1FY21). Revenue from operations during Q1FY21 stood at Rs 44.2 billion, up 15% YoY.

The company's Pharmaceutical Services and Active Ingredients (PSAI) saw 88% YoY growth on account of higher volumes of certain products, an increase in new product sales and favourable forex.

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BPCL share price will also be in focus today as the government for the third time has extended the deadline for bidding for the privatization of India's second-biggest oil refiner by two months to September 30.

Market participants will also track HDFC share price as the mortgage lender reported 5% drop in net profit at Rs 30.5 billion for the quarter ended 30 June 2020. The profit stood at Rs 32 billion in the year ago period. Net interest income (NII) stood at Rs 33.9 billion as compared to Rs 30.8 billion in the previous year, representing a growth of 10%.

The net interest margin (NIM) was reported at 3.1%, compared to 3.3% in the corresponding quarter last year.

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Domestic Gold Jewellery Demand Slumps 74% in June Quarter

The demand for gold jewellery in India tanked a massive 74% in the April-June quarter of the calendar year 2020 at 44 tonnes (t) and sharply higher than the 33% drop seen in China at 90.9 t during the same period, suggests the latest gold demand trends report by World Gold Council (WGC) released July 30.

The fall in demand in both India and China - the biggest gold consumers in the world, led to an overall 53% drop in the global demand for gold jewellery at 251.5 t during the recently concluded quarter.

Global jewellery demand almost halved in the first half of the calendar year 2020 (CY20), falling 46% YoY to a new low in their series at 572 t.

The strict lockdown imposed in late March eclipsed the gold buying festival of Akshaya Tritiya - one of the most auspicious days for buying gold in India. As a result, physical store sales were not possible, and only those retailers with an online presence were able to cater to demand.

The uncertainty over the pandemic and its impact on the other asset classes saw investors rush to gold as a safe-haven asset. According to WGC, global investors added record amounts of gold-backed ETFs to their portfolios in the first half of 2020.

Note that domestic gold prices edged lower yesterday, their first loss in 10 days. In global markets, gold took a breather after a nine-day rally that pushed prices to new highs. On Tuesday, prices had hit an all-time high of US$ 1,981. Gold prices, however, remained supported after US Federal Reserve left interest rates unchanged near zero and pledged to use all its tools to drive the economic recovery.

So, is this the right time to buy gold or silver? And how can one go about investing in this precious metal?

We answer these questions in our Youtube Playlist on gold investing. Get trading ideas on gold by India's #1 trader Vijay Bhambwani. And find out the right way to profitably trade gold now.

Bharti Airtel Posts Rs 159 Billion Loss in Q1FY21

Bharti Airtel posted a consolidated net loss of Rs 159.3 billion in the April-June quarter as the company undertook a massive Rs 117.5 billion charge, primarily for incremental provision and interest related to Supreme Court's order on adjusted gross revenue definition last year.

In the corresponding quarter last year, the company had posted a consolidated loss of Rs 28.7 billion.

Consequently, without prejudice and on prudence, during the quarter ended June 2020 the company has further recorded an incremental provision of Rs 107,444 million, including net interest on total provision created considering interest rate as per the affidavit filed by DoT on 16 March 2020 with effect from the date of Court Judgement.

Operationally, the company had a strong quarter despite the covid-19 pandemic causing an unprecedented disruption.

Consolidated revenue from operations grew 15.4% year-on-year.

More importantly, Bharti Airtel reported a second straight quarter of positive operating income for its core business of mobile services in India at Rs 1.7 billion.

The business clocked revenue of Rs 128.8 billion for the quarter, up 18.5% YoY.

To know more about the company, you can read our latest annual report analysis and latest quarter analysis here.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


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Stock Market Updates

VAIBHAV GLOBAL Share Price Down by 5%; BSE 500 Index Down 1.0% (Today's Market)

Aug 14, 2020 03:34 PM

VAIBHAV GLOBAL share price is trading down by 5% and its current market price is Rs 1,843. The BSE 500 is down by 1.0%. The top gainers in the BSE 500 Index are LUPIN (up 9.2%) and HEIDELBERG CEMENT (up 8.4%). The top losers are VAIBHAV GLOBAL (down 5.1%) and EICHER MOTOR (down 7.2%).

TATA MOTORS Share Price Down by 5%; BSE AUTO Index Down 2.5% (Today's Market)

Aug 14, 2020 03:26 PM

TATA MOTORS share price is trading down by 5% and its current market price is Rs 133. The BSE AUTO is down by 2.5%. The top gainers in the BSE AUTO Index are CUMMINS INDIA (up 2.6%) and ASHOK LEYLAND (up 1.0%). The top losers are TATA MOTORS (down 5.2%) and EICHER MOTOR (down 7.2%).

VARROC ENGINEERING Share Price Down by 5%; BSE CAPITAL GOODS Index Down 0.5% (Today's Market)

Aug 14, 2020 03:26 PM

VARROC ENGINEERING share price is trading down by 5% and its current market price is Rs 231. The BSE CAPITAL GOODS is down by 0.5%. The top gainers in the BSE CAPITAL GOODS Index are NBCC (INDIA) LTD (up 3.1%) and SIEMENS (up 2.8%). The top losers is VARROC ENGINEERING (down 5.4%)..

BOSCH Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Aug 14, 2020 03:18 PM

BOSCH share price is trading down by 5% and its current market price is Rs 14,400. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are ECLERX SERVICES (up 9.6%) and LUPIN (up 9.2%). The top losers are BOSCH (down 5.2%) and EICHER MOTOR (down 6.9%).

BAJAJ ELECTRICALS at 52 Week High; BSE 500 Index Down 1.0 % (Today's Market)

Aug 14, 2020 03:06 PM

BAJAJ ELECTRICALS share price has hit a 52-week high. It is presently trading at Rs 470. BSE 500 Index is down by 1.0% at 14,874. Within the BSE 500, BAJAJ ELECTRICALS (up 7.0%) and REDINGTON (up 15.4%) are among the top gainers, while top losers are EICHER MOTOR and DISH TV.

Sensex Corrects Over 550 Points; Banking Stocks Under Pressure (Today's Market)

Aug 14, 2020 02:30 pm

Indian share markets slip into the red on signs of escalating US-China tensions.

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