Page 2215 - Markets News
BPCL tumbles over 6% on report it's divestment may not happen in FY21
On July 29, the government had for the third time extended the deadline for bidding for privatisation of India's second-biggest oil refiner Bharat Petroleum Corp Ltd by two months to September 30
 "BPCL tumbles over 6% on report it's divestment may not happen in FY21")
Dhanlaxmi Bank slides 5% as Q1 provisions jump 3-fold YoY to Rs 37 crore
The lender's provisioning for bad loans and contingenices spiked to Rs 37.02 crore in Q1FY21 as against Rs 9.27 crore a year ago. However, it was lower from previous quarter's Rs 56.89 crore
 "Dhanlaxmi Bank slides 5% as Q1 provisions jump 3-fold YoY to Rs 37 crore")
Domestic realty funds launch stressed funds to tap opportunities
When sales are very low and financing from banks and non banking finance companies are not coming, fund managers are expecting good returns from their investments, experts say
 "Domestic realty funds launch stressed funds to tap opportunities")
Jubilant Life slips 2.5% after scaling a 52-week peak in early trade
The company said it has launched the generic version of antiviral drug remdesivir in India.
 "Jubilant Life slips 2.5% after scaling a 52-week peak in early trade")
Infosys, TCS: How to trade IT stocks after Trump's order on H-1B visa use
The overall trend on the Nifty IT index looks optimistic as the 50-day moving average (DMA) formed a positive crossover with 200-DMA, resulting in the Golden Cross.
 "Infosys, TCS: How to trade IT stocks after Trump's order on H-1B visa use")
VST Industries in focus, rallies 11% after June quarter numbers
The company's net profit rose 0.04 per cent YoY to Rs 75.71 crore for the quarter under review.
 "VST Industries in focus, rallies 11% after June quarter numbers")
YES Bank rallies 3% after Moody's upgrades it to B3 on equity infusion
Moody's has also upgraded the bank's long-term foreign and local currency bank deposit ratings to "B3" from "Caa1", and foreign currency senior unsecured MTN programme rating to (P)B3 from (P)Caa1
 "YES Bank rallies 3% after Moody's upgrades it to B3 on equity infusion")
Wockhardt to supply Covid-19 vaccines to UK govt; stock soars 27% in 3 days
The UK government has also reserved one fill-and-finish production line at a Wockhardt subsidiary in Wrexham, Wales for its exclusive use for the next 18 months to secure supply
 "Wockhardt to supply Covid-19 vaccines to UK govt; stock soars 27% in 3 days")
IT stocks slip as Trump signs order to restrict H-1B visa use; TCS falls 1%
"Today I am signing an executive order to ensure that the federal government lives by a very simple rule. Hire American," Trump said.
 "IT stocks slip as Trump signs order to restrict H-1B visa use; TCS falls 1%")
Franklin Templeton Mutual Fund may face Sebi heat as audit sees lapses
Regulator-appointed firm probing closure of six schemes
 "Franklin Templeton Mutual Fund may face Sebi heat as audit sees lapses")
Market Ahead, Aug 4: All you need to know before the opening bell
Over 50 companies are slated to release their June quarter results later in the day. The list includes names such as Astral Poly Technik, Avadh Sugar, Gujarat Gas, and Unichem Laboratories
 "Market Ahead, Aug 4: All you need to know before the opening bell")
Nifty view and stock picks by Anand Rathi: Buy Tata Consumer, Sell Escorts
The stock of Tata Consumer Products made a fresh all-time high and has provided breakout from a cup pattern on the daily chart
 "Nifty view and stock picks by Anand Rathi: Buy Tata Consumer, Sell Escorts")
BSE Q1 net profit drops 21.4% to Rs 32.48 cr; income falls to Rs 162.11 cr
The exchange had posted a net profit of Rs 41.32 crore in the year-ago period, BSE said in a regulatory filing on the NSE
 "BSE Q1 net profit drops 21.4% to Rs 32.48 cr; income falls to Rs 162.11 cr")
Street ignores recovery hurdles faced by pricey McDonald's India franchise
Continued pressure on dine-in sales may hurt growth
 "Street ignores recovery hurdles faced by pricey McDonald's India franchise")
Slow Jaguar Land Rover recovery will weigh on Tata Motors profits
While operational gains will continue, firm may not turn profitable this year
 "Slow Jaguar Land Rover recovery will weigh on Tata Motors profits")
Retail volumes will continue to trend upwards: Krishna Karwa, Emkay Global
Technology, Telecom, information technology (IT), Pharma, and Speciality Chemicals are some of the sectors, which Karwa says, despite the recent run up, still have some left
 "Retail volumes will continue to trend upwards: Krishna Karwa, Emkay Global")
MOFSL's broking business sees net losses due to negative crude settlement
Company has made provision of Rs 88.96 crore on client receivables
 "MOFSL's broking business sees net losses due to negative crude settlement")
Sebi tightens the procedural guidelines for proxy advisory firms
Sebi has directed proxy advisors to share their report simultaneously with their clients and the company
 "Sebi tightens the procedural guidelines for proxy advisory firms")
Moratorium extension fears, Covid tally spook investors; Sensex falls 1.8%
The Sensex ended at 36,940, down 667 points, or 1.8 per cent - the highest since July 14
 "Moratorium extension fears, Covid tally spook investors; Sensex falls 1.8%")
Sebi asks proxy advisors to formulate voting recommendation policies
The new guidelines would come into force from September 1, the Securities and Exchange Board of India (Sebi) said in a circular.