Asian stocks opened higher Friday, after a late-session rally in U.S. shares, as investors continued to gauge the implications of the spreading coronavirus.
U.S. stocks advanced and bonds retreated after the World Health Organization stepped up efforts to combat the deadly coronavirus by declaring an international health emergency.
- The Budget Session of Parliament begins today with the President's address. Finance Minister Nirmala Sitharaman will table the economic survey in Parliament at noon.
- The government will release annual estimate GDP data for 2018-19.
- India to release fiscal deficit data for April-December period.
🎯 News & Impact 🎯
Major Results Today :
Hindustan Unilever, ITC, Power Grid, State Bank of India, Tech Mahindra, Vedanta
🎯 Tata Motors (Q3, YoY) :
Revenue fell 6.8 % to Rs 71,676 crore.
Net profit at Rs 1,738.30 crore versus net loss at Rs 26,993 crore.
JLR
Revenue rose 2.8 % at 6,400 million pounds.
Margin stood at 10.8 % versus 7.3 %.
Net profit at 372 million pounds.
🎯 Bharti Infratel (Q3, QoQ) :
Revenue rose 1 % to Rs 3,673 crore.
Net Profit fell 17.1 % to Rs 799 crore.
🎯 Marico (Q3, YoY) :
Revenue fell 2 % to Rs 1,824 crore.
Net profit rose 10 % to Rs 276 crore.
🎯 Bharat Electronics (Q3, YoY) :
Revenue fell 16.8 % to Rs 2,278.1 crore.
Net profit fell 56.8 % to Rs 222.7 crore.
🎯 Persistent Systems (Q3, QoQ) :
$ Revenue rose 3.1 % to $129.43 million.
Revenue rose 4.3 % to Rs 922.7 crore.
Net profit rose 2.2 % to Rs 87.9 crore.
🎯 REC, PFC :
The proposed merger of REC with Power Finance Corporation hit a roadblock and is not likely to happen in near future as it would violate RBI norms on the exposure of non-banking financial companies.
🎯 Nocil :
Board approved the merger of promoter entities Suremi and Sushripada into the company. Both these entities hold 17.95 percent stake in the company.
🎯 PNC Infratech :
Company said that its bid for EPC contract in Haryana worth Rs 639 crore stands cancelled.
Negative for the stock.
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