Major US stock indexes jumped on Friday and logged solid gains for the week after data on historic job losses due to the coronavirus crisis showed they were slightly fewer than feared. All 11 S&P 500 sectors were positive, led by the beaten-up energy group , which gained 4.3%.
The Dow Jones Industrial Average rose 455.43 points, or 1.91%, to 24,331.32, the S&P 500 gained 48.61 points, or 1.69%, to 2,929.8 and the Nasdaq Composite added 141.66 points, or 1.58%, to 9,121.32.
Reversing their two-month selling streak, overseas investors pumped in a net Rs 15,958 crore in the Indian capital markets in the first week of May. As per latest depositories data, foreign portfolio investors (FPI) infused a net Rs 18,637 crore in equities, but pulled out a net Rs 2,679 crore from the debt segment between May 1-8, taking the cumulative inflow to Rs 15,958 crore.
🎯 News & Impact 🎯
Results Updates
🎯 ICICIBANK : Net profit rises 26 % to Rs 1,221 crore. Net Interest Income up 17 percent to Rs 8,926 crore. Gross NPA at 5.53 percent from 5.95 percent in Q3FY20. Net NPA at 1.41 percent from 1.49 % in the previous quarter. Provisions up 186 percent to Rs 5,967 crore from Rs 2,083 crore sequentially. Positive for the stock. 👍
🎯 Shree Cement Q4FY20 : Revenue down 2 % to Rs 3,217.5 crore. Net profit up 83.2 percent to Rs 588.2 crore. Ebitda up 27.3 percent to Rs 1,078.9 crore. Ebitda margin expands to 33.5 percent from 25.8 %
🎯 HDFC AMC Q4FY20 : Revenue down 2 % to Rs 476 crore. Net profit fell 10 percent to Rs 249.83 crore. Operating profit from core AMC business down 1 % to Rs 359.6 crore.
🎯 Reliance Industries : Saudi Arabia's sovereign wealth fund called the Public Investment Fund is considering purchasing a minority stake in Jio platforms
🎯 Sequent Scientific : Carlyle Group enters into binding agreement with promoters to acquire up to 74 % equity stake. Promoters to sell up to 11.15 crore shares or 44.92 percent of their stake while Ascent India Fund to sell 1.41 crore shares or 5.69 percent of expanded voting share capital respectively at Rs 86 per share.
🎯 Lupin : Announced the closure of inspections carried out by the U.K. MHRA at its three manufacturing units in Pithampur. The inspection was carried out in January 2020.
🎯 Dr Reddy's Labs : Company is recalling 1,752 bottles of generic heartburn medicine in the US after the American health regulator found quality issues with the product. As per the latest Enforcement Report by the the US Food and Drug Administration (USFDA), the firm is voluntarily recalling 1,752 bottles (1,000 count) of 40 mg Esomeprazole Magnesium delayed release capsules in the US.
🎯 Cipla : Gets Establishment Inspection Report (EIR) for its API facility in Bengaluru from the U.S. FDA. The inspection took place between January 20-24, 2020.
🎯 Cadila Healthcare : To manufacture Isg ELISA - the diagnostic kit for testing Covid-19 developed by ICMR-NIV, Pune. The technology has been transferred to Zydus Cadila for mass scale production.
🎯 J Kumar Infra : Gets Letter of Acceptance from NBCC for construction of SDMC headquarters in Delhi for a contract value of Rs 559.78 crore.
🎯 Minda Corp : Calls off Joint Venture with Shandong Beiqi Hai Hua Automobile Parts (China) for producing and selling automotive components.
🎯 Future Retail : Promoter Future Corporate Resources invoked pledge of 11.26 lakh shares on May 6. Positive for the stock. 👍
🎯 Apollo Pipes : Promoter Sameer Gupta acquired 75,000 shares or 0.57 percent take at Rs 329.98 per share.
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Edited by Sharp.
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