Asian markets have opened higher on Thursday after their peers on Wall Street, buoyed by technology shares briefly surpassed their all-time closing highs.
The S&P 500 jumped on Wednesday but finished just short of its February record closing high, in a broad rally led by tech-related stocks.
The Dow Jones Industrial Average rose 289.93 points, or 1.05 percent, to 27,976.84, the S&P 500 gained 46.66 points, or 1.40 percent, to 3,380.35 and the Nasdaq Composite added 229.42 points, or 2.13 percent, to 11,012.24.
Crude prices rose more than 2 percent on Wednesday after government data showed US oil inventories fell across the board.
🎯 News & Impact 🎯
🎯 Major Results Today :
GAIL, Hero MotoCorp, BPCL, Grasim, Eicher Motors, Tata Steel.
🎯 Ashok Leyland Q1FY21 :
Revenue down 88.5% to Rs 650.9 crore.
Net loss of Rs 388.8 crore from net profit of Rs 230.2 crore.
Ebitda loss of Rs 333.2 crore from Ebitda gain of Rs 537 crore.
🎯 Aurobindo Pharma Q1FY21 :
Revenue up 8.8% to Rs 5,924.8 crore.
Net profit up 22.8% to Rs 780.6 crore.
Ebitda up 9.7% to Rs 1,257.4 crore.
Ebitda margin at 21.2% from 21.1%
🎯 Balaji Amines Q1FY21
Revenue flat at Rs 233 crore
Net profit up 70.8% to Rs 31.6 crore. Positive for the stock. 👍
🎯 Navneet Education Q1 : Profit at Rs 39.4 crore versus Rs 33.1 crore, revenue at Rs 332 crore versus Rs 250.6 crore YoY.
🎯 Tata Power Q1FY21 :
Revenue down 16.9% to Rs 6,453 crore.
Net profit up 26.3% to Rs 206.6 crore.
Ebitda down 24.8% to Rs 1,731.3 crore.
Ebitda margin at 26.8% from 29.6%.
Profit boosted owing to higher taxes in the base quarter.
🎯 Dr Reddy’s Laboratories : Company gets US FDA nod for ear infection drugs Ciprofloxacin & Dexamethasone.
Positive for the stock. 👍
🎯 KBL : SEBI has issued a showcause notice to six promoters of Kirloskar Brothers (KBL) and two others in connection with a 2010 stake sale.
🎯 Tata Power : Board approved merger of wholly-owned arms Coastal Gujarat Power (Mundra UMPP) and Tata Power Solar System (Solar EPC business) and Af-Taab Investment with itself, along with capital reorganization after the merger.
🎯 Affle India : To acquire 8% stake in Bobble AI, the conversation media platform offering indigenous social keyboard for Rs 19.8 crore.
🎯 Coal India :
Company is seeking 15% reduction in railway freight charges for shipments travelling between 700-1,400 kilometers, in order to make domestic supplies competitive with imports.
🎯 Apollo Hospitals :
NCLT Chennai approved demerger of the front-end portion of the standalone pharmacy business of the company into its arm Apollo Pharmacies.
🎯 Surya Roshni : Promoter Surya Roshni Employees Welfare Trust acquired 1.76 lakh shares between August 7-11.
Positive for the stock. 👍
🎯 Trident : Promoter Trident Capital acquired 7.2 lakh shares on August 11.
Positive for the stock. 👍
🎯 PVR :
Promoter Sanjeev Kumar raised stake to 7.41 % from 7.29 % earlier, Ajay Bijli and family increased stake to 11.38 % from 11.27 % YoY via rights issue.
Positive for the stock. 👍
🎯 Mindtree : Promoter Akila Krishnakumar sold 84,504 shares between August 6-7.
Negative for the stock.
🎯 SBI Cards and Payment Services: Promoter SBI Life Insurance sold 42,744 shares on August 11.
Negative for the stock.
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Edited by Sharp
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