Asian markets are mixed at the start of the new trading week as well as month. Investors continue to assess violent protests in some U.S. cities, stoking concerns about a fresh wave of infections.
US stocks finished mostly higher on Friday after President Donald Trump announced measures against China in response to new security legislation that were less threatening to the US economy than investors had feared. Dow ended the session 17.53 points, or 0.07%, lower but the S&P500 gained 14.58 points, or 0.48%, and the Nasdaq 120.88 points, or 1.29%.
🎯 News & Impact 🎯
🎯 IDBI Bank :
Bank posted a profit of Rs 135 crore for the March quarter on account of recoveries from bad loans. The lender reported a profit after 13 straight quarters of net losses. The bank, majority owned by Life Insurance Corporation of India (LIC), had posted a net loss of Rs 4,918 crore in the corresponding period of last year. Total income rose to Rs 6,925 crore as against Rs 6,616 in the fourth quarter of 2018-19.
Positive for the stock. 👍
🎯 Voltas Q4FY20 :
Revenue up 1.3% to Rs 2,089.6 crore Net profit up 13.7% to Rs 158.7 crore Ebitda up 33.1% to Rs 192 crore Ebitda margin expands to 9.2% from 7%
Positive for the stock. 👍
🎯 Sundaram Finance Q4FY20 :
Net Interest Income up 22.6% to Rs 632 crore Net profit down 80.6% to Rs 131 crore Exceptional gain of Rs 522 crore on account of sale of shares in Royal Sundaram in the base quarter.
🎯 Jubilant Life Sciences Q4 :
Profit at Rs 260.49 cr versus loss at Rs 99.3 cr, revenue at Rs 2,307.32 cr versus Rs 2,352.15 cr YoY.
Positive for the stock. 👍
🎯 Polycab Q4FY20 :
Revenue down 13.6% to Rs 2,129 crore Net profit up 52.4% to Rs 214 crore Ebitda up 23.4% to Rs 300.6 crore Ebitda margin widens to 14.1% from 9.9%.
Positive for the stock. 👍
🎯 Dilip Buildcon Q4 :
Profit at Rs 166.80 cr versus Rs 87.68 cr, revenue at Rs 2,729.66 cr versus Rs 2,571.64 cr YoY.
Positive for the stock. 👍
🎯 Amara Raja Batteries Q4FY20 : Revenue up 1% to Rs 1,581.4 crore Net profit up 15.3% to Rs 137.3 crore Ebitda up 1% to Rs 243.8 crore Ebitda margin flat at 15.4%.
Positive for the stock. 👍
🎯 RCF Q4 :
Profit at Rs 142.38 cr versus Rs 47.16 cr, revenue at Rs 2,606 cr versus Rs 2,266.98 cr YoY.
Positive for the stock. 👍
🎯 Shipping Corporation Q4 :Company reported 83 percent jump in its consolidated profit to Rs 111 crore for the fourth quarter ended March 31. It had clocked a consolidated profit of Rs 60.68 crore for the corresponding quarter in 2018-19.
Positive for the stock. 👍
🎯 Adani Power :
To consider proposal for delisting of shares on June 3. Promoter group holds 74.97% stake in the company. Board will consider appointing a merchant banker as well.
🎯 Kotak Mahindra Bank :
Invesco Oppenheimer Developing Markets Fund, Canada Pension Plant Investment Board and ICICI Prudential Mutual Fund allotted 8.02%, 7.12% and 6.3% shares respectively post its QIP.
🎯 HCL Technologies :
Company showed its intention to acquire Cisco's self-optimizing network (SON) technology.
🎯 Dr Reddy's Laboratories :
Gets Establishment Inspection Report (EIR) from the U.S. FDA for its API Srikakulam Plant (SEZ) in Andhra Pradesh, indicating that the inspection is closed.
🎯 TCS :
Gets SEBI warning letter in relation to a disclosure on a U.S. lawsuit.
🎯 Sanofi India :
Completes the transaction relating to the slump Sale and transfer of the manufacturing facility of the company at Ankleshwar, Gujarat to Zenitava for a total consideration Rs 320.7 crore.
🎯 WABCO India :
ZF Friedrichshafen AG completes acquisition of CV technology supplier WABCO.
🎯 Yes Bank :
Acquires shares worth 24.19% of paid up capital pursuant to invocation of pledge.
Positive for the stock. 👍
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Edited by Sharp.
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