The SgxNifty Future is trading at 11,791.00 with a loss of -1.20% percent or -143.00 point. The Nikkei 225 Future is trading at 23,427.50 with a loss of -0.52%percent or -122.50 point.The Hang Seng Future is trading at 24,895.00 with a loss of 0.00% percent or 0.00 point.
TODAY’S FACTORS AND EVENTS
Faster traction in the high margin B2C segments (wires/FMEG) and exports, premiumisation and cost-saving measures led to Polycab’s strong Q2 performance.
Focus on working capital management (inventory reduction, channel financing) and optimising costs are a few strategic moves to keep Polycab on the sustainable growth path in the long run. Rs2bn capex in building capacities and technology upgrading, even in a tough FY21, is a testimonial to this. AnandRathi maintain a buy on Polycab, with a higher target of Rs 1,228. The key risks are volatile raw-material prices and slowdown in government spend on infra.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 28,210.82 with a loss of –percent or ?97.97 point. The S&P 500 is trading at 3,435.56 with a loss of – percent or ?7.56 point. The Nasdaq Composite is trading at 11,484.69 with a loss of – percent or ?31.80 point.
In other parts of world, Japan’s Nikkei 225 is trading at at 23,474.27 with a loss of –percent or ?165.19 point. Hong Kong’s Hang Seng is trading at 24,808.99 up with +percent or +54.57 point. China’s Shanghai Composite is trading at 3,314.33 with a loss of – percent or –10.70 point. India’s BSE Sensex is trading at 40,584.33 with a loss of –percent or 122.98 point at 12:15 PM