While the S&P boasted its steepest August percentage gain in more than three decades it ended Monday slightly lower and the Dow also lost ground as investors took a pause although the Nasdaq closed higher thanks to high-flying stocks including Apple Inc.
The Dow Jones Industrial Average fell 223.82 points, or 0.78%, to close at 28,430.05, the S&P 500 lost 7.7 points, or 0.22%, to 3,500.31 and the Nasdaq Composite added 79.82 points, or 0.68%, to 11,775.46.
The Indian economy shrank 23.9 percent during the April-June quarter this year, confirming fears of a crippling slide across several industries and services that are profusely bleeding through multiple deep cuts caused by COVID-19-induced disruptions.
🎯 News & Impact 🎯
Major Results Today : ONGC
🎯 Larsen & Toubro (L&T) : Company announced the completion of the disinvestment of its electrical and automation (E&A) business to Schneider Electric for ₹14,000 crore. Positive for the stock. 👍
🎯 Adani Group on Monday said it had decided to acquire debt of GVK Airport Developers (GVKADL), the firm through which GVK Group holds 50.5% stake in Mumbai International Airport Ltd. (MIAL).The move will pave the way for Adani to get a controlling, 74% stake in MIAL. Positive for the stock. 👍
🎯 Biocon : Company and Mylan launched insulin drug Semglee in the US market.
🎯 Entertainment Network India, Company and TV Today Network mutually agreed to terminate the Advertising Sales Agreement with effect from September 1.
🎯 Zensar Technologies : Company received US patent for its innovative tool enabling direct conversation with the organization's leadership - ZenVerse.
🎯 India Grid Trust : Company completed acquisition of GPTL Transmission project from Sterlite Power at an enterprise value of around Rs 1,080 crore.
🎯 BEML : Company bagged Rs 842 crore order from Ministry of Defence. Positive for the stock. 👍
🎯 Exide Industries : Company's stake in subsidiary/JV firm, Exide Leclanche Energy Private Limited increased to 77.87 %.
🎯 Seacoast Shipping Services : Company will consider bonus issue on September 3.
🎯 Zuari Agro Chemicals : Promoter Zuari Global created pledge on 2.61 percent shares.
🎯 S Chand and Company : Subsidiary Safari Digital Education Initiatives raised stake from 45 % to 54.86 % in Edutor Technologies India.
🎯 Wockhardt : Company appointed Akhilesh Gupta as an Additional Director.
🎯 JB Chemicals & Pharmaceuticals : Promoters sold 48,54,667 shares of company to Tau Investment Holdings, Singapore.
🎯 Reliance Power : The company defaulted on payment of interest/ repayment of the principal amount for loans including revolving facilities like cash credit from banks / financial institutions. Negative for the stock.
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Edited by Sharp.
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