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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

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Market Ahead | Indian markets

BS Web Team  |  New Delhi 

The are likely to see a flat-to-positive start on Tuesday. The SGX Nifty was trading at 10,955 levels, up 38.80 points at 7:36 AM. Asian shares were on track to open higher, after strong manufacturing data and gains in tech stocks boosted global equities and the US dollar overnight. US stocks received an additional lift from Microsoft, which jumped 5.6 per cent after it formally declared interest in TikTok’s US operations on Sunday.

In commodities, oil prices rose more than 1 per cent on Monday on hopes for economic recovery.

Back home, India has recorded over 50,000 cases in 24 hours for a 6th straight day, taking its tally to 1,855,331. On the global front, Worldometer has recorded 198,932 new cases worldwide in the past 24 hours.

Apart from these, June quarter numbers, and stock-specific action will continue to be on the investors' radar.

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.

Now, let's take a look at some of the corporate developments.

Munich Re has sold shares worth ~380 crore in Apollo Hospitals. According to BSE bulk deal data, Munich Re sold 2,397,380 shares or 1.72 per cent stake in Apollo Hospitals at an average price of ~1,600.43.

Moody's has upgraded YES Bank’s long-term foreign-currency issuer rating from “Caa1” to “B3” as equity capital raise of Rs 15,000 crore has bolstered its solvency.

Jubilant Lifesciences announced that its subsidiary, Jubilant Generics, has launched remdesivir for injection under the brand name ‘JUBI-R’ in the Indian market at a price of Rs 4,700 per vial of 100 mg;

GMR Infra to divest part of non-core assets; and

Tata Motors has sought shareholders’ approval to ratify the payment of minimum remuneration to Guenter Butschek, MD and CEO, due to the losses incurred by the firm in 2019-20.

First Published: Tue, August 04 2020. 07:20 IST
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