Wall Street’s main indexes closed higher on Monday as investors bet on some of the market’s most high-profile stocks ahead of earnings reports while they weighed progress in US government stimulus efforts against rising US COVID-19 cases.
The Dow Jones Industrial Average rose 114.88 points, or 0.43%, to 26,584.77, the S&P 500 gained 23.78 points, or 0.74%, to 3,239.41 and the Nasdaq Composite added 173.09 points, or 1.67%, to 10,536.27.
Gold prices rocketed to record peaks at $1,975 on Tuesday while the U.S. dollar plumbed two-year lows as investors wagered the Federal Reserve would reaffirm its super-easy policy outlook this week, and a tolerance for higher inflation.
Govt to go ahead with divestment of 23 PSUs cleared by Cabinet: Nirmala Sitharaman. But didn't disclose the names.
🎯 News & Impact 🎯
Major Results Today :
UltraTech Cement, Nestle India, Indusindbank, IDBI Bank, IDFC First Bank, RBL Bank
🎯 Mindspace Business Parks REIT IPO subscribed 38% on Day 1.
🎯 Bharti Infratel Q1FY21 : Revenue down 3.3% to Rs 3,505 crore. Net profit up 8.4% to Rs 704 crore. Ebitda up 6.4% to Rs 1,807 crore. Ebitda margin at 51.6% from 46.9%.
🎯 Tech Mahindra Q1FY21 : Revenue in U.S. Dollar terms down 6.7% to $1,208 million. Revenue down 4% to Rs 9,106 crore. Net profit up 20.9% to Rs 972 crore. Ebit up 25.3% to Rs 917 crore. Ebit margin at 10.1% from 7.7%. I.T. segment revenue down 3% to Rs 8,366.7 crore.
🎯 United Spirits Q1FY21 : Revenue down 53.6% to Rs 1,030.2 crore. Net loss of Rs 215.3 crore from net profit of Rs 197.4 crore. Ebitda loss of Rs 77.6 crore from Ebitda gain of Rs 395.1 crore. Exceptional loss of Rs 75 crore due to Covid-19 related promotional program.
🎯 Nippon Life India AMC Q1FY21 : Revenue down 30% to Rs 215.4 crore. Net profit up 22% to Rs 149.6 crore. Other income up 2.8 times to Rs 98.8 crore. Net income higher due to strength in retail segment in cost efficiencies. Positive for the stock. 👍
🎯 Indian Oil Corporation : Indian Oil Corporation: Announces formation of 50:50 JV with Total (France) to manufacture and market high-quality bitumen derivatives and specialty products for India's road-building industry. Positive for the stock. 👍
🎯 Adani Enterprises : Signed a non-binding Memorandum of Understanding with the Government of Tamil Nadu for exploring possibilities of setting up hyperscale data center facility.
🎯 NBCC : Received projects work in Seychelles worth Rs 204.5 crore.
🎯 Bharti Airtel : Hughes Network Systems, led by the U.K. Government and Bharti Enterprises, will acquire OneWeb out of bankruptcy.
🎯 MT Educare : Promoter Mahesh Shetty to sell 17.83 lakh shares (2.47% equity) at a floor price of Rs 13 per share, aggregating to Rs 3.2 crore. Negative for the stock.
🎯 KPI Global Infra : Commissioned additional 615 KW solar power project under captive power producer category with two industrial customers.
🎯 ITC : Company announced acquisition of spices manufacturer Sunrise Foods in an all-cash deal valued at Rs 2,150 crore.
🎯 NBCC : The company received orders worth Rs 204 crore.
🎯 Adani Enterprises : Promoter SB Adani Family Trust released pledge of 1.11 crore shares on July 24. Positive for the stock. 👍
🎯 Adani Ports & SEZ : Promoters revoked pledge of 1.9 crore shares on July 24. Positive for the stock. 👍
🎯 Adani Transmission : Promoter SB Adani Family Trust revoked pledge of 16.15 lakh shares on July 24. Positive for the stock. 👍
🎯 Emami : Promoters released pledge on shares. Positive for the stock. 👍
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