3rd June, 2021 Morning Brief

Market will open on a positive note today. 

Asian shares were a touch below a recent three-month top on Thursday with China a tad weaker as investors weighed inflation concerns ahead of key U.S. economic data while oil prices rose to near 1-1/2 year highs.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3% to 711 points. It went as high as 712.57 on Wednesday, a level not seen since early March.

Japan's Nikkei added 0.4%. Australian shares climbed to all-time highs as investors cheered stronger-than-expected economic growth data released on Wednesday.

China's services activity growth slows in May - Caixin PMI. 

Wall Street's main indexes posted slim gains on Wednesday ahead of key U.S. economic data due later in the week as investors weighed inflation concerns and a fresh surge in so-called “meme stocks.”

The Dow Jones Industrial Average rose 25.07 points, or 0.07%, to 34,600.38, the S&P 500 gained 6.08 points, or 0.14%, at 4,208.12 and the Nasdaq Composite added 19.85 points, or 0.14%, to 13,756.33

Result Today : GSPL

🎯 Panacea Biotec : The company reported consolidated loss at Rs 54.14 crore in Q4FY21 against Rs 68.39 crore in Q4FY20, revenue rose to Rs 168.27 crore from Rs 125.36 crore YoY.

🎯 Muthoot Finance : 

The company reported higher consolidated profit at Rs 1,023.76 crore in Q4FY21 against Rs 835.77 crore in Q4FY20, total revenue increased to Rs 3,104.5 crore from Rs 2,630.5 crore YoY.

Solar Industries India: FMR LLC and Fidelity International acquired 39,465 equity shares in Solar Industries via open market transaction on May 31, raising stake in the company to 5.02% from 4.98% earlier.

Positive. 👍 

🎯 Rossari Biotech : Rossari will acquire Unitop Chemicals, a leading supplier of surfactants, emulsifiers and specialty chemicals, for Rs 421 crore.

Persistent Systems: The company to expand its relationship with IBM to help fuel open hybrid cloud adoption, core IT modernization and digital transformation for customers across the enterprise.

🎯 Tata Power Company : Subsidiary Tata Power Solar received EPC orders for Rs 686 crore from NTPC to set up solar PV projects.

Wipro: The company and Finastra announced a partnership to help corporate banks across Asia Pacific accelerate their digital transformation.

🎯 Persistent Systems : The company to expand its relationship with IBM to help fuel open hybrid cloud adoption, core IT modernization and digital transformation for customers across the enterprise.

🎯 Ruchi Soya Industries: Ruchi Soya forayed into nutraceuticals under joint brand name of 'Patanjali' - 'Nutrela' to lead Healthy India / Swasth Bharat in big way.

Solar Industries India: FMR LLC and Fidelity International acquired 39,465 equity shares in Solar Industries via open market transaction on May 31, raising stake in the company to 5.02% from 4.98% earlier.

Positive.