Asian markets have opened mixed this morning with benchmark indices in most major markets opening flat. The U.S. Federal Reserve said that the economy is showing signs of nascent recovery at the beginning of July.
U.S. stocks ended sharply higher on Wednesday, with the S&P 500 at its highest since early June, following promising early data for a potential COVID-19 vaccine and a strong quarterly report from Goldman Sachs.
The Dow Jones Industrial Average rose 0.85% to end at 26,870.03 points, while the S&P 500 gained 0.91% to 3,226.55. The Nasdaq Composite climbed 0.59% to 10,550.49.
🎯 News & Impact 🎯
Rossari Biotech’s IPO received 79 times demand on the last day of the offer.
🎯 Infosys Q1FY21
U.S. Dollar revenue down 2.4% to $3,121 million. Revenue up 1.7% to Rs 23,665 crore. Ebit up 8.9% to Rs 5,365 crore. Ebit margin at 22.7% from 21.2%. Net profit down 1.5% to Rs 4,272 crore. BFSI Revenue up 2.4% to Rs 7,457 crore. Retail revenue down 6.4% to Rs 3,391 crore. Communications revenue up 4.9% to Rs 3,165 crore. Energy revenue up 1.2% to Rs 3,027 crore. Manufacturing revenue down 4.5% to Rs 2,256 crore. Hi-Tech revenue up 12.7% to Rs 2,063 crore. Digital revenue at $1,389 million (44.5% of total revenue); up 25.5% growth in constant currency terms. FY21 revenue growth guidance in the range of 0-2% in cons tant currency.
🎯 L&T Infotech : Q1FY21 U.S. Dollar revenue down 4.8% to $390.3 million. Revenue down 2.1% to Rs 2,949.2 crore. Net profit down 2.4% to Rs 416.6 crore. Ebitda up 2.4% to Rs 592 crore. Ebitda margin at 20.1% from 19.2%. Lower operating expenses aid margins.
🎯 Federal Bank : Bank's net profit in Q1FY21 rose 4.3 percent to Rs 400.8 crore from Rs 384.2 crore, YoY. NII increased 12.3 % to Rs 1,296.4 crore while NIM improved to 3.07 percent from 3.15 %, YoY. Asset quality also improved as net NPA ratio at 1.22 % was the lowest in last 10 quarters.
🎯 Cochin Shipyard : Signed contracts for construction and supply of two Autonomous Electric Ferry for ASKO Maritime AS, Norway, with an option to build two more identical vessels.
🎯 GAIL India : Company has received letter from Department of Telecommunication towards withdrawal of all provisional demand notices issued. Consequent upon the withdrawal of claims, nothing remains due to DoT by GAIL in the matter of AGR.
🎯 Titagarh Wagons : Joint venture Matiere Titagarh Bridges became wholly owned subsidiary of company after it acquired 50% stake from Matiere S.A.S., France.
🎯 Indiabulls Real Estate : Received proposal from the Embassy Group for the merger of the group's residential and commercial assets aggregating to 61.9 million square feet into the company.
🎯 Indiabulls Real Estate : Embassy Group Proposes 11 Projects Worth 61.9 m sqft to merge into company.
🎯 Centrum Capital : Promoter BG Advisory Services released a pledge on 12 lakh shares. Positive for the stock. 👍
🎯 Ballarpur Industries : Vistra ITCL India invoked a pledge and sold 10.73% stake in company. Positive for the stock. 👍
🎯 Adani Transmission : Promoter SB Adani Family Trust revoked pledge of 30 lakh shares on July 14. Positive for the stock. 👍
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Edited by Sharp.
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