Asian markets have opened mixed on Tuesday morning as the assessment over the challenges faced by economies when they open from the Covid-19 pandemic continue.
The S&P 500 closed slightly higher on Monday as investors looked beyond new spikes in coronavirus infections to focus on expectations that an economy crippled by mandated shutdowns will soon be re-opened for business.
Dow Jones Industrial Average fell 0.45% to end at 24,221.99 points, while the S&P 500 gained 0.01%, to 2,930.19. The Nasdaq Composite climbed 0.78% to 9,192.34. Futures on the S&P 500 dipped lower after the index ended flat on Monday.
Oil futures climbed in early trade on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June.
🎯 News & Impact 🎯
Major Results Today : Nestle
Results Updates
🎯 Piramal Enterprises Q4FY20 : Revenue down 2 % to Rs 3,341 crore Net loss of Rs 1,701.9 crore as compared to a net profit of Rs 455.3 crore.
Negative for the stock.
🎯 Godrej Agrovet Q4FY20 :
Revenue up 17 % to Rs 1,627.7 crore Net profit down 34.4 % to Rs 74.6 crore Ebitda up 68.5 % to Rs 126.2 crore.
🎯 Subex :
Company reported over two-fold jump in its consolidated net profit to Rs 31.99 crore for the fourth quarter ended March 2020.
🎯 Aviation Stocks :
The Government of India is mulling resuming commercial flights on May 18 or earlier.
Positive for the stock. 👍
🎯 Abbott India :
Abbott has announced that the U.S. Food and Drug Administration has issued Emergency Use Authorization for the company’s Covid-19 lab-based serology blood test on the Alinity-i system. The company plans to ship nearly 30 million antibody tests globally in May across its Architect and Alinity-i platforms and will have a capacity for 60 million tests in June.
🎯 Laurus Labs :
Warburg Pincus decreased its stake in the company from 19.63 % to 11.68 % on May 8.
🎯 Ind-Swift Laboratories :
Gets Establishment Inspection Report (EIR) from the U.S. FDA, with zero form 483 observations for the Surveillance GMP inspection of its API manufacturing facility located at Derabassi in Punjab.
Positive for the stock. 👍
🎯 Great Eastern Shipping :
Clarified on the reports of a fire in its vessel, stating that the concerned vessel has been safe and sailing. The vessel was sold to an Indonesian company in July 2013.
🎯 Seamec :
Company said that its vessel ‘SEAMEC-III’ is likely to be deployed around end-July or early-August after completing the dry docking. The aggregate value of the contract is $23 million.
🎯 SBI Cards & Payment Services : Promoter SBI Life Insurance sold 1.12 lakh shares between May 7-8.
Negative for the stock.
🎯 Jamna Auto :
Promoter Map Auto created pledge of 23.21 lakh shares on May 5.
Negative for the stock.
🎯 Emami :
Promoters created pledge of 22 lakh shares between May 5-8.
Negative for the stock.
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Edited by Sharp.
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