Asian equity markets are trading mixed as U.S. futures turned positive amid a slew of corporate earnings. Markets in Australia and South Korea are trading with modest gains. Sentiment is capped after Samsung warned of a earnings hit in the second quarter due to the Covid-19 pandemic impacting demand. Markets are shut in Japan on account of a holiday.
Benchmark indices in the U.S. declined during a choppy trading session led by a retreat in megacap technology stocks and more companies withdrawing earnings forecasts.
The U.S. Federal Reserve will announce its policy decision later tonight.
🎯 News & Impact 🎯
Results Updates
🎯 Axis Bank Q4FY20
Net Interest Income up 19.3 % to Rs 6,808 crore (Estimate: Rs 6,408 crore)
Net loss of Rs 1,387.8 crore from Net Profit of Rs 1,505.1 crore (Estimate: Profit of Rs 1,478 crore)
Provisions more than double to Rs 7,730 crore from Rs 3,470.9 crore sequentially.
GNPA at 4.86 % from 5 % last quarter
NNPA at 1.56 % from 2.09 % last Quarter.
Additional provision of Rs 3,000 crore made for Covid-19.
Net Interest Margins stood at 3.55 %
Slippages at Rs 3,920 crore from Rs 3,012 crore last year.
🎯 Biocon :
The company along with Mylan has launched Fulphila in Canada. Fulphila is approved by Health Canada to decrease the incidence of infection, as manifested by febrile neutropenia.
🎯 Spandana Sphoorty Financial :
79 % of the total branches (794 out of 1,006) are present in the green zone and all of these have been operational since April 20.
🎯 GMR Infra :
Promoter GMR Enterprises created pledge of 2.06 crore shares on April 27.
Negative for the stock.
🎯 Emami :
Promoter Diwakar Viniyog created pledge of 69 lakh shares on April 24.
Negative for the stock.
🎯 Adani Ports and SEZ :
Promoter SB Adani Family Trust revoked pledge of 1.53 crore shares on April 27.
Positive for the stock. 👍
🎯 Adani Transmission :
Promoter SB Adani Family Trust revoked pledge of 69 lakh shares on April 27.
Positive for the stock. 👍
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