Asian stocks drifted today after a modest dip in U.S. equities as investors mulled a weak U.S. consumer report.
U.S. stocks fell, led by energy and technology shares, as investors mulled earnings reports and the prospects of trade negotiations. Some profit booking took place initially taking into consideration of Warren Buffett's indicator fearing it can be a start of a big downside.
The deepening slowdown across the economy, commercial credit demand has contracted 2.6 % points to Rs 63.80 lakh crore in the June quarter, says a report. Market participants would keep a close watch on trade talk developments between the US and China, currency and crude oil price movement. And, September quarter earnings.
🎯 News & Impact 🎯
Major Results Today :
Zee Entertainment Enterprises
Result Updates :
🎯 Mindtree Q2 FY20 :
Consolidated net profit rose 45.6 % quarter-on-quarter to Rs.135 crore on the back better operating income.
🎯 DB Corp :
Company reported a 63.6 % increase in consolidated net profit at Rs.75.57 crore in the second quarter ended on September 30, 2019.
🎯 Telecom Sector :
Govt mulling 2-year holiday for telcos to pay spectrum dues.
Can be proved positive for the sector.
🎯 ICICI Lombard :
Prem Watsa’s Fairfax on Thursday sold 4.91 % stake in ICICI Lombard General Insurance Company, exiting the firm it co-founded with ICICI Bank in 2001.
🎯 YES Bank :
Sunil Mittal, the founder and chairman of Bharti Enterprises, and founder promoters of the Hero Group, Sunil Munjal have shown interest in YES Bank, said a report by ETNOW.
Positive for the stock. 👍
🎯 Edelweiss Financial Services :
The Competition Commission of India has approved Kora Master Fund LP’s investment if up to 10 percent stake in the company’s arm Edelweiss Securities for $75 million, according to its media stateent.
Positive for the stock. 👍
🎯 PNB Housing Finance Q2 :
Update: Disbursements fell 35 percent on a sequential basis to Rs 4,970 crore.
Negative for the stock. 👎
🎯 NALCO :
Company said coal shortages have severely impacted its aluminium production.
Negative for the stock. 👎
🎯 KNR Constructions :
The National Highways Authority of India Has terminated the agreement for the company’s arm KNR Chidambaram Infra.
Negative for the stock.
🎯 Shoppers Stop :
Company opened a new store in Gurugram, taking the total to 85 stores under its operations.
🎯 Transformers and Rectifiers India : Company bagged orders worth Rs 158 crore.
🎯 Exide Industries :
Company forays into manufacturing of E-rickshaws.
🎯 RMC Switchgears :
Company stood as L1 bidder in MGVCL Tender for FRP fencing.
🎯 Zuari Agro Chemicals :
Company has shut down its NPK plant due to non-availability of raw materials.
🎯 Cox & Kings :
Company defaulted on payment of non-convertible debenture’s interest worth Rs 41.1 lakh which was due on Oct. 15.
🎯 Quess Corp :
Company acquired 49 % stake Trimax Smart Infraprojects for a consideration of Rs 13 crore.
🎯 Zee Entertainment :
VTB Capital acquired rights to dispose 10.71 percent equity held by Essel Media in company on October 11.
Negative for the stock. 👎
🎯 Bajaj Consumer Care :
HDFC MF increased its stake to 6.48 % from 1.23 % on Oct. 15.
Company romoters sold 3.24 crore shares on Oct. 15.
🎯 Future Consumer Care :
Company promoters have a stake of 46.29 % in the company, out of which 81.26 % of promoter shareholding is encumbered shares.
Negative for the stock. 👎
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Edited by Sharp.
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