The S&P 500 posted a nominal gain on Friday as further clarity regarding the timeline for the development of a coronavirus vaccine and much better-than-expected retail sales data and brought buyers back to the market.
The Dow Jones Industrial Average rose 112.11 points, or 0.39%, to 28,606.31, the S&P 500 gained 0.47 points, or 0.01%, to 3,483.81 and the Nasdaq Composite dropped 42.32 points, or 0.36%, to 11,671.56.
High incidence of non-performing assets (NPAs) in banks acts as a major roadblock in transmission of monetary policy actions of the Reserve Bank, a working paper prepared by the officials of the central bank said. The working paper also made a strong case for capital injection in state-owned banks, arguing that such a move would increase the credit flow to the real sector in addition to ensuing smoother transmission of monetary policy.
🎯 News & Impact 🎯
Major Results Today :
Insurance Company, L&T Technology Services, ACC.
🎯 HDFC Bank Q2FY21 : Net Interest Income up 17% to Rs 15,776 crore. Net profit up 18% to Rs 7,513 crore. Gross NPA at 1.08% from 1.36% last quarter Net NPA at 0.17% from 0.33% last quarter Provisions down 5% from the previous quarter to Rs 3704 crore. Positive for the stock. 👍
🎯 Avenue Supermarts Q2FY21 YoY Revenue down 11% to Rs 5,306 crore. Net profit down 38% to Rs 199 crore. Ebitda down 36.5% to Rs 329 crore. Ebitda margin at 6.2% from 8.6%
🎯 IIFL Securities Q2FY21 YoY Revenue up 16% to Rs 201.9 crore. Net profit up 2.1 times to Rs 50.9 crore. Ebitda up 12% to Rs 78.7 crore Ebitda margin at 39% from 40.4%. Positive for the stock. 👍
🎯 Tata Communications Q2FY21 Revenue up 3% to Rs 4,401 crore. Net profit up 7 times to Rs 384.8 crore. Ebitda up 39% to Rs 1,157.5 crore. Ebitda margin at 26.3% from 19.5%. Positive for the stock. 👍
🎯 Reliance Industries : Subsidiary Reliance Retail Ventures received the subscription amount of Rs 5512.50 crore from Gamnat Pte Ltd and Lathe Investment Pte Ltd (GIC).
🎯 Cadila Healthcare : Zydus Cadila gets final approval from the U.S. FDA for Ursodiol Capsule and a tentative approval for Linagliptin and Metformin Hydrochloride tablets. While Ursodiol is used in the treatment of liver diseases, the latter is used to improve blood sugar levels. Both drugs will be manufactured at the group's formulation manufacturing facility at Ahmedabad. Positive for the stock. 👍
🎯 Prestige Estates : Signs non-binding Letter of Intent with the Blackstone Group for the sale of certain direct and indirect interest in certain commercial offices, retail and hotel properties, mall management and identified maintenance businesses. Blackstone Group now gets exclusivity in relation to the transactions contemplated in the letter.
🎯 SRF : The company has raised Rs 750 crore through its QIP issue which was closed on October 16.
🎯 Aurobindo Pharma : Enters into a share purchase agreement to acquire 100% equity share capital of MViyeS Pharma Ventures. MViyeS holds 32.1% stake in Eugia Pharma - a Joint Venture company in which Aurobindo holds 67.82%. Post the acquisition, both Eugia and MViyeS will become 100% subsidiaries of Aurobindo.
🎯 Dr Reddy's Laboratories : Gets approval to conduct clinical trial for Sputnik V vaccine along with the RDIF.
🎯 IndusInd Bank : RBI imposed monetary penalty of Rs 4.5 crore for non-compliance of various directions and guidelines.
🎯 HFCL : Promoter entity MN Ventures acquired another 25 lakh shares in company via open market transaction, increasing stake to 20.89 %.
🎯 Compucom Software : Company received an order for providing ICT computer lab related services and supply of related items in 53 (21+32 Schools) government schools for establishment of ICT Computer Labs on BOOT Basis from Rajasthan Council of Schools Education (RCSE) worth Rs 7.26 crore for 5 years.
🎯 Majesco : Promoter Sudhakar Ram released pledge of 4.5 lakh shares on October 15. Negative for the stock.
🎯 Zee Media : Promoters invoked pledge of 1.1 crore shares between October 13-14. Positive for the stock. 👍
🎯 JSW Energy : Promoter JSW Investments revoked pledge of 16 lakh shares on October 14. Positive for the stock. 👍
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒
Edited by Sharp.
No comments:
Post a Comment