Asian markets have opened with declines after a tumultous last week as investors worry over a potential second wave of Covid-19 infections.
US stocks ended higher on Friday as bargain hunters stepped back into the market following sharp losses a day earlier.
The Dow Jones Industrial Average rose 477.37 points, or 1.9%, to 25,605.54, the S&P 500 gained 39.21 points, or 1.31%, to 3,041.31 and the Nasdaq Composite added 96.08 points, or 1.01%, to 9,588.81.
🎯 News & Impact 🎯
Major Results Today : Tatamotors
🎯 Eicher Motors Q4FY20 :
Revenue down 11.7% to Rs 2,208.2 crore.
Net profit down 44.1% to Rs 304.3 crore.
Ebitda down 37% to Rs 432.1 crore.
Ebitda margin narrows to 19.6% from 27.4%
Volumes fell 20% to 1,74,999 units.
🎯 Hindalco Industries Q4FY20 :
Revenue down 19.2% to Rs 9,992 crore.
Net profit up 38.1% to Rs 326 crore.
Ebitda up 25.7% to Rs 1,163 crore.
Ebitda margin at 11.6% from 7.4%
Lower LME prices impacts India operations.
Positive for the stock. 👍
🎯 Grasim Industries Q4FY20 :
Revenue down 11.3% to Rs 19,901.5 crore.
Net profit up 31.7% to Rs 1,505.8 crore.
Ebitda down 16.7% to Rs 4,091.4 crore.
Ebitda margin narrows to 20.6% from 21.9%.
🎯 BHEL Q4FY20 :
Revenue down 51.3% to Rs 5,049.8 crore.
Net loss of Rs 1,532.6 crore from net profit of Rs 680.7 crore.
Ebitda loss of Rs 559.6 crore from Ebitda positive of Rs 1,385.9 crore.
Ebitda margin at -11% from 13.4%
🎯 Geojit Financial Services Q4 :
Profit at Rs 18.75 cr versus Rs 6.06 cr, revenue at Rs 82.31 cr versus Rs 75.98 cr YoY.
Positive for the stock. 👍
🎯 Reliance Industries:
TPG to invest Rs 4,546.8 crore in Jio Platforms for a 0.93% stake. Catterton will invest Rs 1,894.5 crore for a 0.39% stake in Jio Platforms. This was the ninth and the tenth investment in the company. Jio platforms has now raised Rs 1,04,326.95 crore so far.
Positive for the stock. 👍
🎯 Dr Reddy's Laboratories : Announces the launch of Colchicine tablets, approved by the U.S. FDA. The product will be launched in the U.S. market.
Positive for the stock. 👍
🎯 AstraZeneca Pharma :
Italy, Germany, France and the Netherlands have signed a contract with AstraZeneca to supply European citizens with a vaccine against the coronavirus, Italy's health minister said on June 13.
Positive for the stock. 👍
🎯 MCX :
Company gets SEBI nod for bullion, base metals index futures.
🎯 Power Finance Corporation : Clarifies that it executed an MoU on May 27 with the Madhya Pradesh Government, to facilitate the cooperation towards financing hydro-electric power projects and power components of 12 major irrigation projects on the river Narmada. The total cost of these 12 projects is estimated at Rs 22,000 crore.
🎯 Cadila Healthcare :
Zydus has signed a non-exclusive agreement with Gilead Sciences for the manufacture and distribution of Remdesivir, which has been isued an Emergency Use Authorisation by the U.S. FDA to treat patients suffering from severe symptoms of Covid-19.
🎯 Wipro :
Company partnered with Citrix and Microsoft to drive business continuity for customers.
🎯 HCC :
Defaults on payment of Rs 728 crore worth of interest / repayment of principal on loans from banks / financial institutions and unlisted debt securities.
🎯 Lumax Auto :
Puts the acquisition of the auto component busines of OK Play Group on hold due to the Covid-19 situation.
🎯 Tata Motors :
Has signed an agreement to purchase the 50% shareholding of Jayem Automotives in JT Special Vehicles Pvt. Ltd. Post this assignment, JTSV will become a wholly-owned subsidiary of the company.
🎯 JSW Steel :
Promoters revoke pledge of 2.02 crore shares between June 9-11.
Positive for the stock. 👍
🎯 Adani Enterprises :
Promoter SB Adani Trust revoked pledge of 96 lakh shares on June 11.
Positive for the stock. 👍
🎯 Adani Ports :
Promoter SB Adani Trust revoked pledge of 2.02 crore shares on June 11.
Positive for the stock. 👍
🎯 JSW Energy :
Promoter JSW Investments revoked pledge of 2.09 crore shares on June 10.
Positive for the stock. 👍
🎯 Adani Transmission :
Promoter SB Adani Trust revoked pledge of 95 lakh shares on June 10.
Positive for the stock. 👍
🎯 Parag Milk Foods : Promoter Devendra Shah revoked pledge of 15.5 lakh shares on June 11.
Positive for the stock. 👍
🎯 IndusInd Bank :
Promoter IndusInd International Holdings acquired 4 lakh shares between June 10-11.
Positive for the stock.
🎯 Kotak Mahindra Bank :
Promoter sold 3 lakh shares on June 11.
Negative for the stock.
🎯 Apollo Tyres :
Promoter PTL Enterprises acquired 4.6 lakh shares between June 9-11.
Positive for the stock. 👍
🎯 Nesco :
Promoter Chandle and Price acquired 19,388 shares between June 9-10.
Positive for the stock. 👍
🎯 Aarti Industries :
Promoter Jaya Gogri sold 63,000 shares between June 8-11.
Negative for the stock.
🎯 Birlasoft :
Promoter sold 17 lakh shares on June 9.
Negative for the stock.
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Edited by Sharp.
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