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Twitter Share Price Drops by 14%, Forex Reserves May fall below $400bn et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jul 27, 2018 12:57 PM 2 min read
Editorial

 End of Day Wrap-up (Friday / July 27, 2018) #Forex #RBI #ITC #Mastercard #India #Twitter #Amazon #BHPBilliton #shale #US #crudeoil #Transfin

Editor's Comment: Forex reserves may fall below $400bn as RBI looks to strengthen the Rupee. Reserves have already been in decline since mid-April by $21bn from a record peak of $426bn. Ongoing trade wars, FPI outflows and rising crude oil cited as drivers behind a weakening rupee.

 

ITC Q1 net profit rises 10% YoY to INR2,819cr and revenue rises 7.6% YoY to INR10,707cr. EBITDA rose 12.2% to INR4,203cr. Volume growth for the cigarette business was muted during the quarter. However the FMCG business showed double digit growth.

 

Mastercard to invest INR1,625cr in India by 2019 to promote digital payments. This is part of the investment of INR6,500cr planned by Mastercard in India during 2014-2019.

 

Twitter share price drops by 14% after reporting lower MAUs at 335mn vs 338.5mn as estimated; Q2 revenue rises 24% YoY to $711mn. Twitter has been shutting down fake accounts for the past few weeks, however it has been able to show strong revenue growth in this quarter.

 

Amazon’s Q2 net income rises to $2.5bn from $197mn, in Q2 2017, and net sales rise to $53bn from $38bn. Amazon has seen huge surge in net income due to investments and operations in warehouse, data center efficiency and sales by independent third party merchants.

 

BP Plc will buy BHP Billiton’s US onshore shale assets for $10.5bn. BP looks to rebuild its business in US. The transaction is said to be earnings and cash flow accretive for BP.