Asian markets are mixed at the start of trade this morning. Reports that the Trump administration is considering sanctions on Chinese officials is keeping investor sentiment on the edge.
The S&P 500 ended at an 11-week high, despite giving up almost half of its gains in the final hour of trade.Latest economic data has shown that the easing of the lockdown restrictions is boosting economic activity in the U.S.
The Dow Jones Industrial Average rose 529.95 points, or 2.17%, to 24,995.11, the S&P 500 gained 36.32 points, or 1.23%, to 2,991.77, and the Nasdaq Composite added 15.63 points, or 0.17%, to 9,340.22.
🎯 News & Impact 🎯
Major Results Today :
Mcdowell, Dabur, Sunpharma
Results Updates :
🎯 Deepak Nitrite Q4FY20 :
Revenue up 4.7% to Rs 1,055.5 crore.
Net profit up 88.3% to Rs 172.3 crore.
Deferred tax reversal of Rs 22.5 crore this quarter aided profitability.
Ebitda up 35.1% to Rs 262 crore.
Ebitda margin improves to 24.8% from 19.2%.
Positive for the stock. 👍
🎯 Coromandel International Q4FY20 :
Revenue up 8.7% to Rs 2,869.3 crore
Net profit up 2.1 times to Rs 234.2 crore
Ebitda up 50.8% to Rs 390.7 crore
Ebitda margin at 13.6% from 9.8%.
Positive for the stock. 👍
🎯 Torrent Pharma Q4FY20
Revenue up 4.8% to Rs 1,946 crore
Net profit at Rs 314 crore from net loss of Rs 152 crore.
Ebitda up 15.9% to Rs 548 crore
Ebitda margin expands to 28.2% from 25.5%.
Exceptional loss of Rs 357 crore in the base quarter.
Positive for the stock. 👍
🎯 Reliance Industries :
News reports that the company is preparing Jio Platforms for an IPO outside the country.
Positive for the stock. 👍
🎯 Bharti Airtel :
Bharti Telecom said in a press release that it raised over Rs 8,433 crore through accelerated book-build offering of equity shares of the telecom player. Sale proceeds will be fully utilized to repay debt at and make the promoter holding company a ‘debt free.’
Positive for the stock. 👍
🎯 PFC :
Company said it entered into an agreement with Narmada Basin Projects Company, a wholly-owned company of government of Madhya Pradesh, to fund projects worth Rs 22,000 crore.
Positive for the stock. 👍
🎯 Coal India :
News reports that its consultancy arm CMPDIL has been roped in by NTPC to make separate mining plans for Banai and Bhalumuda coal mines in Chhattisgarh with an aim to maximise the extractable reserves by merging operations of the two mines.
🎯 Asahi Infrastructure :
Sebi has slapped a fine of over Rs 11 crore on the company and its senior official in a matter related to manipulation in issuance of global depository receipts (GDR).
Negative for the stock.
🎯 Praj Industries :
Board decided to cancel proposal of buy-back of shares.
Negative for the stock.
🎯 Century Plyboards :
Extensive damage done to the factory shed and building at Joka factory near Kolkata due to cyclone AMPHAN.
🎯 Bharti Airtel :
Promoter Bharti Telecom sold 15 crore shares (2.75 %) at Rs 562.2 per share and Societe Generale acquired 3.53 crore shares (0.65 %) at Rs 561.1 per share.
Negative for the stock.
🎯 Solara Active Pharma Sciences : Promoter Prafulben Dudhagara invoked pledge of 32,216 shares on May 21.
Positive for the stock. 👍
🎯 Adani Power :
Promoters released pledge of 2.37 crore shares between May 20-22.
Positive for the stock. 👍
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Edited by Sharp.
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