Stocks in Asia gained after data showed resilience in the U.S. economy and investors speculated the fallout from the coronavirus could be contained.
U.S. equities earlier closed at an all-time high. The S&P 500 Index’s three-day gain topped 3 percent, and the Nasdaq indexes added to records.
🎯 News & Impact 🎯
Last meet of the year of India’s Monetary Policy Committee which will announce its final review for 2019-20. It may give shock by hiking rates.
Our view : Rate cut is out of question.
Major Results Today :
Eicher Motors, Hero MotoCorp, Sun Pharma
🎯 DLF (Q3, YoY) :
Revenue down 39.5 % to Rs 1,342 crore.
Ebitda down 64.3 % to Rs 237.6 crore.
Margin at 17 % versus 28.8 %
Net profit up 23.5 % to Rs 414 crore.
🎯 HPCL (Q3, QoQ) :
Revenue up 16.2 % to Rs 70,749.6 crore.
Net profit down 29 % to Rs 747.2 crore.
🎯 Ajanta Pharma (Q3, YoY) :
Revenue rose 34.2 % to Rs 651.2 crore.
Net profit rose 60.8 % to Rs 107.6 crore.
Positive for the stock. 👍
🎯 Indiabulls Housing Finance (Q3, YoY) :
Net interest income fell 50.9 % to Rs 614.1 crore.
Net profit fell 43.8 % to Rs 546.9 crore.
🎯 Engineers India (Q3, YoY) :
Revenue rose 53.7 % to Rs 899.2 crore.
Net profit rose 19.4 % to Rs 111.8 crore.
🎯 SBI :
Company said that it has completed the divestment of its entire 7.41 % stake in Equifax Credit Information Services for Rs 68 crore.
🎯 Kotak Mahindra Bank :
Bank’s arm has completed the divestment of its entire 5.56 % stake in Equifax Credit Information Services.
🎯 Lupin :
Company received approval for Leflunomide tablets from the U.S. FDA to market a generic equivalent of Arava Tablets. The drug is used in the treatment of adults with active rheumatoid arthritis.
Positive for the stock. 👍
🎯 CreditAccess Grameen :
Company received No-Objection Certificate from RBI for its acquisition of 76.34 % stake in Madura Micro Finance.
Positive for the stock. 👍
🎯 Navkar Corporation :
Company received Strategic Alliance Management Contract at lnland Clearance Depot, Valvada, Gujarat, via tender offered by Central Warehousing Corporation for an initial period of five years and further extendable for a period of two years on mutual consent.
🎯 Hindustan Aeronautics :
Company signed a memorandum of understanding with Israel’s Elbit Systems for assessing the feasibility of the joint development of a Vertical Take-off and Landing Unmanned Aerial Vehicle for maritime and land-based military operations.
🎯 Panacea Biotec :
Company completed the transfer of its pharma business to its wholly-owned arm, Panacea Biotec Pharma.
🎯 Matrimony.com :
Company acquired 26.1 % stake in Astro-Vision Future Tech for Rs 6 crore.
🎯 Emami :
IDBI Trusteeship Services increased stake from 7.38 % to 11.85 % in respect of pledge creation, on behalf of debenture holders.
🎯 Westlife Development :
Promoter Makino Holdings sold 46.82 lakh shares (3.01 %) at Rs.425.07 each.
Negative for the stock.
🎯 Reliance Infra :
Promoter Redkite Capital sold 20 lakh shares (2.48 %) at Rs 67.06 each.
Negative for the stock.
🎯 Pidilite Industries :
Company promoter Harish Parekh sold 50,000 shares from February 3-4
Negative for the stock.
🎯 Music Broadcast :
Company promoter Jagran Prakashan acquired 60,000 shares on February 3.
Negative for the stock.
🎯
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