Asian markets are edging higher this morning, amidst promising results from a large-scale Covid-19 vaccine study.
The S&P 500 and the Dow rallied sharply with new highs on Monday as investors bet that a full economic reopening was finally in sight following the first positive data from a late-stage COVID-19 vaccine trial.
The Dow Jones Industrial Average rose 834.57 points, or 2.95%, to 29,157.97 in its biggest one-day percentage gain since June 5. The S&P 500 rose 41.06 points, or 1.17%, to 3,550.5 and the Nasdaq Composite dropped 181.45 points, or 1.53%, to 11,713.78.
🎯 News & Impact 🎯
Important results today : GAIL, Mahindra & Mahindra, Hindalco, Tata Power.
SEBI considering revamp of IPO rules on equity dilution.
Positive for larger entrants.
🎯 Oil India Q2FY21 :
Revenue down 32.5% to Rs 2,169 crore Net profit down 61.9% to Rs 239 crore Ebitda down 40.7% to Rs 737.4 crore Ebitda margin at 34% from 38.7%.
🎯 JK Cement Q2FY21 : Revenue up 23.6% to Rs 1,550.7 crore Net profit up 2.1 times to Rs 223.5 crore Ebitda up 61.7% to Rs 410.7 crore Ebitda margin at 26.5% from 20.3%.
Positive for the stock.
🎯 Pfizer : Early findings showed the vaccine being developed by the company and BioNTech SE protects most people from Covid-19. The shot prevented more than 90% of symptomatic infections in the trial of tens of thousands of volunteers.
🎯 Prabhat Dairy :
SAT quashes SEBI's order directing Prabhat Dairy to deposit Rs 1,292 crore and also directed the regulator to process the delisting application of the firm and pass appropriate orders within six weeks.
Negative for the stock.
🎯 HDFC : Has reduced its retail prime lending rate on housing loans by 10 basis points, from November 10.
🎯 Tata Steel : Signs MoU to procure their complete domestic zinc requirements from Hindustan Zinc.
🎯 Crompton Greaves Consumer Electricals : Two of the biggest shareholders plan to sell close to 3.83 crore shares in a placement.
🎯 HFCL : Received a letter of award worth Rs 678.50 crore from L&T for supply of I.T. equipment, software solutions and associated equipment. The project is expected to be completed by April 2022.
🎯 Engineers India : To consider buyback of equity shares on November 12.
🎯 TCS : To acquire 100% stake in Postbank Systems from Deutsche Bank.
🎯 JB Chemicals : Promoter Tau Investments created pledge of 3.4 crore shares (44% equity stake).
Negative for the stock.
🎯 Anant Raj : Promoter Ashok Sarin acquired 68,622 shares between November 5-6.
🎯 Sun Pharma : Promoter Shanghvi Finance released pledge of 42 lakh shares on November 4.
Positive for the stock.
🎯 Parag Milk Foods : Promoters released pledge of 49.43 lakh shares on November 9.
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