The S&P 500 ended up slightly and the Nasdaq fell on Monday as investors extended a rotation into value stocks from heavyweight tech-related names while awaiting news on progress in a US fiscal support bill.
The Dow Jones Industrial Average rose 359.4 points, or 1.31%, to 27,792.88, the S&P 500 gained 9.33 points, or 0.28%, to 3,360.61 and the Nasdaq Composite dropped 42.63 points, or 0.39%, to 10,968.36.
Futures on the Dow Jones traded higher by 40 points. The index ended 1.3% higher on Tuesday.
MF industry adds 11 lakh new SIP accounts in July; inflows see a slight fall.
Passenger vehicle retail sales dip by 25% in July.
🎯 News & Impact 🎯
Major Result Today : Adani Ports & SEZ
🎯 Titan Q1FY21 : Revenue down 62.3% to Rs 1,862 crore. Net loss of Rs 270 crore from net profit of Rs 371 crore. Ebitda loss of Rs 246 crore from Ebitda gain of Rs 565 crore. Revenue includes sale of bullion worth Rs 601 crore done to reduce inventory. Negative for the stock. Company Forms a commodity trading unit called Titan Commodity Trading.
🎯 Shree Cement Q1FY21 : Revenue down 23.4% to Rs 2,325.8 crore. Net profit up 2.1% to Rs 370.8 crore. Ebitda down 22.3% to Rs 700.6 crore. Ebitda margin at 30.1% from 29.7%. Sales volume down 17.7% to Rs 4.79 Mt.
🎯 Power Grid Q1FY21 : Revenue up 2.1% to Rs 8,988.7 crore. Net profit down 18.5% to Rs 1,978.9 crore. Ebitda flat at Rs 7,877.1 crore. Ebitda margin at 87.6% from 89.7%. One-time rebate of Rs 1,075 crore.
🎯 Bank of Baroda Q1FY21 : Net Interest Income up 7.6% to Rs 6,816 crore. Net loss of Rs 864 crore from net profit of Rs 719 crore. Gross NPA at 9.39% from 9.4% last quarter. Net NPA at 2.83% from 3.13% last quarter Provisions against standard accounts this quarter at Rs 1,811 crore. Positive for the stock. 👍
🎯 Mangalam Drugs Q1FY21 : Revenue up 59.4% to Rs 103.6 crore. Net profit up 11 times to Rs 8.3 crore. Ebitda up 2.5 times to Rs 13.7 crore. Ebitda margin at 13.2% from 8.4%. Positive for the stock. 👍
🎯 ICICI Bank : Launches QIP issue at Rs 351.36 per share.
🎯 Cupid : Gets received U.S. FDA approval for four additional variants of the company’s male contraceptives to market them in the U.S. market.
🎯 Triveni Engineering : Board approves buyback of 61.9 lakh shares or 2.5% of the total equity worth Rs 65 crore.
🎯 Hexware Technologies : De-listing proposal gets nod from public institutional shareholders.
🎯 Gufic Biosciences : Entered into a loan license agreement with Hetero Labs to manufacture and supply Remdesivir Lyophilised Powder for injection on loan license basis to Hetero for its sale in various countries including India. Both afore-mentioned entities have a combined capacity of 50 million vials per annum. Positive for the stock. 👍
🎯 Kilpest : Promoter Lenus Finvest acquired 40,000 shares (0.53%) at Rs 492.89 per share. Positive for the stock. 👍
🎯 JSW Steel : Promoter JTPM Metal Traders acquired 11.4 lakh shares between August 5-6. Positive for the stock.
🎯 SBI Cards and Payment Services : Promoter SBI Life Insurance sold 25,000 shares on August 7. Negative for the stock.
🎯 Kotak Mahindra Bank : Promoter Kotak Trustee sold 15,200 shares on August 10.
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