Stocks in Asia gained Tuesday after U.S. equities advanced as positive signs emerged on trade talks and ahead of earnings from some of the world’s biggest companies.
U.S. stocks advanced amid positive signs on trade talks and as investors awaited earnings from some of the world’s biggest companies.
🎯 News & Impact 🎯
Major Results Today :
Asian Paints, Axis Bank, Bajaj Finance, Bajaj Finserv, Kotak Mahindra Bank, ICICI Prudential Life Insurance.
Results Updates :
🎯 Reliance Industries (Q2, QoQ) :
Revenue down 1.3 % to Rs 87,137 crore. Net profit up 7.4 % to Rs 9,702 crore. Ebitda up 0.2 % to Rs 13,666 crore. Margins at 15.7 % versus 15.5 percent. GRM up 16 % to $9.4/bbl versus $8.1/bbl.
Reliance Jio (Q2, QoQ) :
Revenue up 5.8 % to Rs. 12,354 crore.
Net profit up 11.1 % to Rs 990 crore.
🎯 UltraTech Cement (Q2, YoY) :
Revenue up 4.3 % to Rs 9,253.8 crore.
Net profit up 72.3 % to Rs 639.2 crore.
🎯 Bharti Infratel (Q2, QoQ) :
Revenue down 2 % to Rs 3637.6 crore.
Net profit up 8.6 % to Rs 963.5 crore.
🎯 AU Small Finance Bank (Q2, YoY) :
Net interest income up 40.6 % to Rs 451.6 crore.
Net profit up 88.1 % to Rs 171.9 crore.
Positive for the stock. 👍
🎯 Piramal Enterprises :
Revenue up 14.6 % to Rs 3,603.6 crore.
Net profit up 15.3 % to Rs 554.7 crore.
🎯 Ujjivan Financial Services (Q2, YoY) :
Net interest income up 44.7 % to Rs 407 crore.
Net profit up 2.2 times to Rs 63.2 crore.
Positive for the stock. 👍
🎯 Avanti Feeds (Q2, YoY) :
Revenue rose 41 % to Rs 1,064 crore.
Net profit rose 156 % to Rs 119 crore.
Positive for the stock. 👍
🎯 Ambuja Cements (Q3. YoY) :
Revenue up 0.5 % to Rs 2,626.1 crore.
Net profit up 31.4 % to Rs 234.6 crore.
Positive for the stock. 👍
🎯 L&T Technology Services (Q2, YoY) :
Dollar revenue up 12 % to $198 million. Revenue up 10.7 % to Rs 1402.1 crore.
Net profit up 7.7 % to Rs 205.8 crore.
🎯 ICICI Lombard General Insurance (Q2 ,YoY) :
Gross direct premium down 16.4 % to Rs 2,953 crore.
Net Profit up 5 % to Rs 308 crore.
🎯 Granules India :
U.S. FDA approved the Abbreviated New Drug Application (ANDA) for Fexofenadine Hydrochloride tablets. It is bioequivalent to Allegra allergy tablets of Sanofi-Aventis U.S. LLC.
Positive for the stock. 👍
🎯 Infosys :
An anonymous whistleblower letter has alleged that the company’s Chief Executive Officer Salil Parekh dressed up the company’s books—accusations that could plunge the software services provider into its second leadership-related crisis in a little over two years.
Negative for the stock.
🎯 Adani Green Energy :
Company has commissioned 50MW wind generation capacity in Gujarat having PPA with SECI for 25 years. Company has planned further 225MW wind capacity in the Bhuj Area by the second half of 2020.
🎯 UltraTech Cement :
Board approved capex of Rs 940 crore for premium products with an increase in grinding capacities in Bihar and West Bengal by 0.6MTPA each and a grinding unit of 2.2 million tons in Odisha. All plants to be commissioned by Jan-March 2021.
🎯 REC :
Board approved sale of two SPVs to bidders.
🎯 MSTC :
HPCL and Mittal Group JVs appointed company as the selling agent. MSTC will levy a service charge of 2.7 % and incase of pre-bid forfeiture MSTC will get 50 % of the amount.
🎯 Berger Paints :
Company to acquire 95.53 % stake in STP Limited at Rs 167.5 crore.
The target company manufactures and supplies construction chemicals and building materials.
🎯 Ambuja Cements :
Board approved merger of wholly-owned arm Dirk India with self. The target company is in the business of processing of Fly ash into "Pozzocrete" and is also engaged in a job work for Ambuja Cements by manufacturing cement at its Nasik facility.
🎯 Inox Wind :
Company clarified that its three manufacturing plants located in Gujarat, Madhya Pradesh and Himachal Pradesh are fully operational and there is no lock out.
🎯 Future Lifestyle Fashions :
Debenture Trustee Vistra ITCL increased its stake via encumbrance to 45.77 % from 38.55 % on Oct. 17.
🎯 Balmer Lawrie :
Company to consider bonus issue of shares on Nov. 11.
🎯 Vinati Organics :
Company to consider share split from one equity share into two equity shares on Nov. 12.
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Edited by Sharp.
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