Global Stock Market Analysis 29th Oct 2020

Here is today’s Global stock market analysis. The DOW future fell more than nine hundred points. How the Indian market reacts to handover to the US market as there were 900+ points down. It wasn’t the best, 940 points, dropped by the dow jones industrial average over the night. We got a few exciting frontline stocks to talk about today. The Axis Bank has a robust set of numbers, and it has prompted many brokerages to come, and they are saying that they are upgrading their target. All have to buy rating, net interest income is 6102cr, and the gross NPA is 4.72. According to the management team, now they have 10900cr set aside for any possible pandemic issue.

BPCL earnings are out today. The total Revenue is 51,833cr and net profit 2076cr for last quarter. Brent crude now slipping below $40 per barrel. It will not be the best quarter, and we may see positive signs about the crude oil price. The more significant issue will be not the numbers presented for quarter two by BPCL but the fact that going ahead is the management commentary on the throughput and volume growth expected on large consumer segments like the automobile and aviation sector.
Most importantly, the GRM margin will be washed. If the crude price continues to soften further, that will help. But they may still have a large amount of inventory stock up, so possible we may not be able to see the full benefit in the second quarter. Even the third quarter and the fourth quarter could see some operation improvements on this metric. More important would be updating the strategy’s divestment because that is something that the market is altogether awaiting. And any new flows on that and some run rate on that could possible give us sentimental booster to stock.

The largest player in the card segment Maruti Suzuki. A lot of people are talking about the possibility of auto car sectors. Maruti Suzuki shows Revenue of 19137 cr and profit of 1519 cr. EBIDTA is 2031 cr, and margin share 10.6%. It is another not-so-significant quarter because it was still opening up in the second quarter after the pandemic. Typically, it is yet to come into complete form, and it is to believe that quarter needs to be sequentially based rather than yearly. The company incurred operation costs in the previous quarter, so comparing these numbers would significantly stand out. It would be more attractive to watchful, what is the management commentary on volume and operation scenario. And due to the covid issue, personal mobility is now going to be very important, and I think Maruti stands out significantly from that perspective. The number is more or less discounted in quarter two, considering the upcoming festival period.

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Kotak Securities

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