Asian markets have opened higher on the final trading day of the week after a late surge on Wall Street. Investors are weighing prospects of additional stimulus over rising Covid-19 cases in the US.
Wall Street’s main indeces closed higher in choppy trading on Thursday, with bank stocks soaring.
The Dow Jones Industrial Average rose 299.66 points, or 1.18%, to 25,745.6, the S&P 500 gained 33.43 points, or 1.10%, to 3,083.76 and the Nasdaq Composite added 107.84 points, or 1.09%, to 10,017.
🎯 News & Impact 🎯
Major Results Today : ITC, Coal India, Glenmark Pharmaceuticals, Oil India, NALCO, SunTv.
The Securities and Exchange Board of India (SEBI) on June 25 announced revisions to various regulations related to pricing norms for preferential share issue, insider trading.
🎯 Power stocks : India may impose up to 25% import tax on solar modules, solar cells.
Negative for power generation stocks but positive for panel manufacturers.
🎯 IT stocks :
Indian IT companies may forgo filing fresh H-1B petitions for FY21.
Negative for the stocks which have on shore workings for US.
🎯 Vedanta :
Company said it has received shareholders' nod for delisting the company.
🎯 JB Chemicals & Pharmaceuticals Q4 :
Profit at Rs 50.14 cr versus Rs 46.66 cr, revenue at Rs 443.57 cr versus Rs 418.9 cr YoY.
Positive for the stock. 👍
🎯 Engineers India Q4 :
Profit at Rs 119.7 cr versus Rs 88.95 cr, revenue at Rs 864.4 cr versus Rs 618.08 cr YoY.
Positive for the stock. 👍
🎯 Apollo Hospitals Enterprises :
Company reported an over two-fold jump in consolidated net profit to Rs 209.60 crore vs 72.8 crore YoY.
Consolidated revenue from operations stood at Rs 2,922.43 crore vs 2499.5 crore.
Positive for the stock.
🎯 Ashok Leyland :
Company reported a 92.31 % decline in consolidated net profit at Rs 57.78 crore vs Rs 751.71 crore YoY. Revenue from operations during the quarter under review stood at Rs 5,088.04 crore as against Rs 9,874.04 crore.
🎯 Container Corporation of India :
Company reported a 10.78 % dip in consolidated net profit to Rs 317.51 vs 355.91 crore YoY.
🎯 ABB Power Grids India :
Company signed a Memorandum of Understanding (MoU) with the National Institute of Technology, Warangal (NITW), Telangana, for cooperation to drive smart electric grid technology education, skills development and research activities.
🎯 PNC Infratech :
Company received Letters of Award from NHAI for 53.95 km long Four-laning of Meerut - Nazibabad section of NH-119 road project in Uttar Pradesh for a bid project cost of Rs 1,412.00 crore.
Positive for the stock. 👍
🎯 Sumitomo Chemical India :
Promoter Sumitomo Chemical Company to sell 49,91,457 shares (1 percent) via offer for sale on June 26-29, with an option to sell additional 49,91,457 shares (1 percent).
🎯 Camlin Fine Sciences :
Convergent Finance LLP, an investment advisor to Infinity Investment Management said that it will be investing up to Rs 180 crore in the company engaged in the manufacturing of antioxidants and aroma chemicals supplying the food industry globally.
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Edited by Sharp.
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