Asian stocks followed their U.S. peers higher, though gains were pared by U.S.-China tensions over Hong Kong that also sent the yen edging up. U.S. futures dropped after China threatened to retaliate if the U.S. Congress passes a bill offering support to pro-democracy protestors in Hong Kong. Stocks were still up about 1 percent in Japan, and benchmarks were also higher in Australia and Korea after the news.
U.S. stocks touched four-week highs, led by health care and financial shares, as earnings season began in earnest.
🎯 News & Impact 🎯
Major Results Today :
Results Updates :
🎯 Wipro (Q2, Consolidated QoQ :
Revenue rose 2.3 % to Rs 15,130 crore.
Net profit rose 6.6 % to Rs 2,561 crore.
Margin stood at 17.3 % versus 16.6 %.
IT services revenues rose 0.5 % to $2,049 million.
IT services Q3FY20 guidance $2,065 million to $2,106 million.
Translates to 0.8 percent to 2.8 % QoQ growth.
🎯 ACC (Q3CY19, Standalone YoY) :
Revenue rose 2.7 % to Rs 3,527.6 crore.
Net profit rose 45.9 % to Rs 300 crore.
Ebitda rose 25.7 % to Rs 556.4 crore.
Margin stood at 15.7 % versus 12.9 %.
🎯 SBI Life Insurance (Q2, YoY) :
Gross premium rose 33 % to Rs 10,243.4 crore.
Net profit rose 21 % to Rs 348.91 crore.
Thirteen month persistency at 83.13 % versus 80.03 %.
🎯 MCX (Q2, Consolidated YoY) :
Revenue rose 40.9 % to Rs 100.2 crore.
Net profit rose 2 times to Rs 71.8 crore.
Margin stood at 47.2 % versus 32.2 %.
🎯 ACC :
Company said it is executing projects that will add new capacity in the markets of Uttar Pradesh, Madhya Pradesh, Bihar, Jharkhand and West Bengal. They also maintained a positive outlook for demand in the coming months.
Positive for the stock. 👍
🎯 Sterling & Wilson
Company signed contract for a new engineering, construction and procurement for Solar Farm In Australia for 220.83 million Australian dollar.
🎯 NBCC :
Company has secured total business of Rs 852.17 crore for the month of September.
Positive for the stock. 👍
🎯 ONGC :
Company’s arm ONGC Videsh has recorded discoveries of oil in Colombia and Brazil.
Positive for the stock. 👍
🎯 International Paper APPM :
West Coast Paper Mills acquired 17.2 % stake in the company on Oct. 11, through an open offer pursuant to the letter of offer dated Aug. 30.
🎯 Sheela Foam :
Company has incorporated its arm in U.S. named SleepX US Inc.
🎯 Emami :
Blackstone, KKR and TPG Capital join race for Emami Cement.
🎯 Future Enterprises :
Company to consider selling assets to Future Retail on November 8.
🎯 Arss Infra Projects :
Company received work order of Rs 60.6 crore for construction of roads in Odisha by Rail Vikas Nigam.
🎯 Bajaj Consumer Care :
Company promoter sold 3.22 crore shares or about 21.9 % stake.
Nearly 38 % of the company’s equity is pledged with Axis Finance Ltd.
Negative for the stock.
🎯 Entertainment Network :
Bahrain-based Adline Media has terminated brand and content license agreement signed in March 2018 with the company.
Negative for the stock.
🎯 JSW Steel :
Company promoters released pledge of 1.7 crore shares on Oct. 7 in favour of HDFC, Tata Capital Financial Services and Housing Development Corporation.
Positive for the stock. 👍
🎯 JSW Energy :
Company promoters created pledge of 20 lakh shares on Oct. 7.
Negative for the stock.
🎯 Future Retail :
Company promoter Future Corporate Resources created pledge of 50,000 shares on Oct. 11.
Negative for the stock.
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