Asian equities have begun the new week with gains after a positive close on Wall Street last Friday.
Dow Futures are trading up with 125 points now.
The S&P 500 and Nasdaq set record closing highs on Friday as investors bought energy, financial and materials shares and sold big tech stocks in anticipation of new fiscal aid from Washington to help the U.S. economy recover.
The Dow Jones Industrial Average rose 27.7 points, or 0.09%, to 31,458.4, the S&P 500 gained 18.45 points, or 0.47%, to 3,934.83 and the Nasdaq Composite added 69.70 points, or 0.5%, to 14,095.47.
Oil prices rose to their highest in more than a year on Monday, after a Saudi-led coalition fighting in Yemen said it intercepted an explosive-laden drone fired by the Iran-aligned Houthi group, raising fears of fresh Middle East tensions.
Consumer Price Index-based inflation (CPI) for the month of January came in at 4.06 per cent, the second consecutive month of retail inflation falling within the Monetary Policy Committee’s medium-term inflation target range of 4 (+/-2 percent), official data showed on February 12.
Index of Industrial Production (IIP) for the month of December turned positive again and showed an expansion of 1 percent, primarily led by basic metals, pharmaceutical and petrochemical products, and an overall positive growth in the manufacturing sector.
🎯 News & Impact 🎯
🎯 ONGC Q3FY21 (Standalone, QoQ) : Revenue up 0.6% at Rs 17,023.8 crore Vs Rs 16,917.1 crore.
Net profit down 52.1% at Rs 1,378.2 crore Vs Rs 2,877.8 crore.
Ebitda down 6.9% at Rs 6,507.6 crore Vs Rs 6,989.4 crore.
Ebitda margin at 38.2% Vs 41.3%.
🎯 Deepak Nitrite Q3FY21 :(Consolidated, YoY) Revenue up 10% at Rs 1,234.7 crore Vs Rs 1,119.9 crore.
Net profit up 38% at Rs 216.6 crore Vs Rs 156.7 crore.
Ebitda up 30% at Rs 335 crore Vs Rs 258.3 crore.
Ebitda margin at 27.1% Vs 23.1%
🎯 Info Edge (India) Q3FY21 (Consolidated, YoY) :
Revenues down 17% at Rs 277.6 crore Vs Rs 335 crore.
Net profit of Rs 679 crore Vs Net loss of Rs 621 crore.
Ebitda down 32% at Rs 67.2 crore Vs Rs 99.5 crore.
Margins at 24.2% Vs 29.7%.
🎯 PNC Infratech :
PNC Gomti Highways, a wholly-owned subsidiary of the company, has received communication from National Highways Authority of India confirming the achievement of Financial Closure for a highway project in Uttar Pradesh.
🎯 Havells India :
Is planning to set-up a new facility to manufacture washing machines in Ghiloth in Rajasthan with an estimated investment of Rs 65 crore and an annual capacity of 3 lakh units.
🎯 ONGC : Board approves formation of a new wholly-owned subsidiary to focus on the Gas & LNG business value chain. It has also approved acquisition of 5% stake in Indian Gas Exchange as a strategic investment.
🎯 Amara Raja Batteries :
To set up 50 MW solar power plant in Chittoor District of Andhra Pradesh for a total outlay of Rs 220 crore.
🎯 Sterling & Wilson Solar :
Signs order worth $127.5 million (Rs 930 crore) in the Kom Ombo region of Egypt. Order received from Saudi Arabia's leading renewable energy company and is scheduled to be commissioned by the first quarter of 2022.
🎯 Finolex Cables : Has approved launch of Conduit Pipe and Accessories for construction Industry. These products will be manufactured at the company's newly set up plant at its Goa facility.
🎯 Info Edge (India) : Has entered into an agreement through its wholly-owned subsidiary, to invest about Rs 9 crore, in 4B Networks.
🎯 Varroc Engineering :
Executed a sale deed on February 11, 2021, effecting the sale of the company’s land & building admeasuring 28,327 square meters situated in Pune, for a consideration of Rs 36 crore.
🎯 Power Grid Corporation of India : Has approved acquisition of 74% shareholding of the JV Partner i.e. Jaiprakash Power Ventures in Jaypee POWERGRID.
🎯 Kalpataru Power : Board withdraws proposal for capital expenditure for construction of the company's corporate office.
🎯 CDSL : Becomes first depository to open 3 crore plus active demat accounts.
🎯 Panama Petrochem :
Promoter Panama Builders Developers acquired 24,895 shares on February 10.
Positive for the stock. 👍
🎯 Westlife Development :
Promoter Achal Jatia sold 7.77 lakh shares on February 11.
Negative for the stock.
🎯 Neuland Laboratories : Promoters Gannabathula Rama Rao and Gannabathula Satyanarayanamurty sold 1,800 shares between February 9-12.
Negative for the stock.
🎯 Chambal Fertilisers & Chemicals : Promoter Zuari Global revoked pledge of 19 lakh shares between February 9-10.
Positive for the stock. 👍
🎯 Max Financial Services :
Max Ventures Investment created a pledge of 37,265 shares on February 10.
Negative for the stock.
🎯 Ajanta Pharma :
Promoter Aayush Agrawal created a pledge of 1.15 lakh shares on February 11.
Negative for the stock.
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