U.S. stocks rose sharply on Monday, recovering from declines in the previous session, as investors viewed more fiscal stimulus as likely and after news President Donald Trump will leave the hospital where he is being treated for COVID-19 and US Service sector grew for the 4th consecutive month.
The Dow Jones Industrial Average rose 465.83 points, or 1.68%, to 28,148.64, the S&P 500 gained 60.16 points, or 1.80%, to 3,408.6 and the Nasdaq Composite added 257.47 points, or 2.32%, to 11,332.49.
Asian stocks are following their U.S. peers higher this morning amid optimism of U.S. President Donald Trump leaving hospital and that lawmakers will move closer to providing more stimulus.
🎯News and Impact🎯
🎯 HDFC : Company’s individual loan approvals in Q1FY21 increased 9 percent YoY but disbursements were down 5 percent, YoY. Positive for the stock. 👍
🎯 HDFC Bank : Bank’s advances as on September 30, 2020, rose 16 percent to Rs 10.4 lakh crore while deposits increased 20 percent to Rs 12.3 lakh crore, YoY. CASA Ratio was at 42 percent versus 39.3 percent, YoY.
Positive for the stock. 👍
🎯 IndusInd Bank : The bank’s advances as on September 30, 2020, rose 2 percent to Rs 2 lakh crore from Rs 1.97 lakh crore while deposits increased 10 percent to Rs 2.28 lakh crore, YoY. CASA Ratio was at 41.4 percent versus 40.4 percent, YoY.
Positive for the stock. 👍
🎯 Indo Rama Synthetics : Promoter Urmila Lohia to sell up to 1.76 crore shares or 6.72% stake in the company through an Offer for Sale.
Negative for the stock.
🎯 Majesco : To consider share buyback on October 8.
🎯 Tata Motors :
JLR retail sales rose 50 percent to 1,13,569 vehicles in Q2FY21, against 74,067 vehicles in Q1FY21, but down 11.9 percent YoY.
Positive for the stock. 👍
🎯 Infibeam Avenues : Enters into definitive agreement with Jio platforms to license, customise, maintain and access the company's enterprise e-commerce software and payments platform for their business use.
Positive for the stock. 👍
🎯 Gujarat State Fertilisers and Chemicals : To take up manufacturing of Calcium Nitrate, becoming the first company in India to do so.
Positive for the stock. 👍
🎯 Escorts : Completes acquisition of 2 crore shares of Kubota Agricultural Machinery India, constituting 40% of the share capital at Rs 45 per share.
🎯 Usha Martin : CBI filed a FIR on October 2 against the company, its Managing Director Rajeev Jhawar and certain other individuals, for alleged offences under the Prevention of Corruption Act, 1988 and the Indian Penal Code, 1860.
🎯 Somany Ceramics : Promoter Ameya Somany acquired 30,000 shares on September 30. Positive for the stock.
Positive for the stock. 👍
🎯 Thyrocare Technologies : Promoter A Velumani HUF acquired 26,578 shares between September 29-30.
Positive for the stock. 👍
🎯 Emami : Promoters released pledge of 23.5 lakh shares between September 29-30.
Positive for the stock. 👍
🎯 Future Consumer : Promoter Future Capital Investment invoked pledge of 18 lakh shares between September 14-16.
Positive for the stock. 👍
🎯 Mafatlal Industries :Promoter entity Sumil Holdings created a pledge on 3.03 lakh equity shares.
Negative for the stock.
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Edited by Sharp.
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