Markets in Asia have opened on a mixed note as investors weigh opening up of economies from the lockdown with caution.
The S&P 500 ended higher for the second straight day, managing to weather a late pullback where it almost gave up gains of as much as 2 %. Futures in the U.S. are currently flat.
U.S. President Donald Trump continues to blame China for the global pandemic, stoking fears of reigniting the trade war.
🎯 News & Impact 🎯
🎯 Adani Ports & SEZ Q4FY20 :
Revenue falls 5.2 % to Rs 2,921 crore
Ebitda down 15 percent to Rs 1,644 crore.
Ebitda Margin narrows to 56.3 % from 62.7 %
Net profit falls 74 % to Rs 334 crore.
🎯 SBI Life Q4 :
Profit rose to Rs 530.67 cr versus Rs 457.68 cr.
Net premium income rose to Rs 11,863 cr versus Rs 11,333 cr YoY.
Positive for the stock. 👍
🎯 NIIT Tech :
Revenue up 3.3 % to Rs 1,109.3 crore in the current quarter.
Net profit falls 7.9 % sequentially while Ebitda margins were flat at 17.9 % from 18.1 % in Q3.
The company reported an exceptional loss of Rs 12.8 crore this quarter.
🎯 Tata Coffee :
Company reported a 6 % fall in its consolidated net profit to Rs 9.86 crore for the quarter ended March 31.
🎯 Astec Lifesciences :
Net profit jumped 145 % YoY to Rs 31.17 crore for the quarter ended March 31, 2020
🎯 Oil Marketing Companies :
Excise duty on petrol and diesel has been hiked by Rs 10 and Rs 13 respectively. This is the steepest such hike in excise duty. Retail fuel prices remain unchanged which means that OMCs will have to bear the brunt of the hike. HPCL, BPCL and Indian Oil were earning a gross marketing margin of Rs 18-20 on retail fuel which now stands reduced.
Negative for the stocks.
🎯 VST Tillers Tractors :
Power Tillers sales up 2.6 times at 761 units while Tractors sales down 24 % at 328 units in April.
Positive for the stock. 👍
🎯 Wipro :
Signs MoU with Maharashtra to re-purpose its I.T. facility in Pune to a 450-bed Covid-19 hospital. Hospital to be converted back to an I.T. facility in a year.
🎯 Lloyds Metals and Energy :
Board meeting on May 8 to consider MoU between company and Thriveni Earthmovers for mining operation JV.
🎯 Shilpa Medicare :
Company decided to establish subsidiary in Canada (North America) and Spain (Europe) for business operations.
🎯 Apollo Pipes :
Promoter Sameer Gupta acquired 1.25 lakh shares (0.95 %) at Rs 309.98 per share.
Positive for the stock. 👍
🎯 Forbes & Company :
Promoter Shapoorji Pallonji created pledge of 38.7 lakh shares on April 30.
Negative for the stock.
🎯 Future Consumer :
Promoter Future Capital Investment invoked pledge of 94 lakh shares on April 30.
Positive for the stock. 👍
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Edited by Sharp.
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