Market LIVE: Domestic equity benchmarks Sensex, Nifty have started on a positive note on Wednesday following a turbulent trading day on Tuesday. Sensex has opened with 165 points gain at 41,131.57 while the Nifty 50 index opened at 12,133.75, up 78 points from the closing value on Tuesday. Tata Steel, Mahindra & Mahindra, Infosys, and Maruti have taken Sensex to an early morning high. 28 stocks out of the 30 stocks on the Sensex pack were trading in green.
Bharatiya Mazdoor Sangh (BMS), an RSS-affiliated trade union, on Tuesday, slammed the Centre’s plan to privatise Air India. It urged the government to think “a hundred times” before going for privatisation of the airline. The Centre on Monday sweetened its offer for the sale of the debt-laden carrier. The government now intends to offload its 100% stake from 76% proposed in a 2018 attempt. Apart from retaining a large part of the debt, the government has also restrained a provision that substantial ownership and effective control of the airline must remain with an Indian entity.
In a major move to solve the issue of customers’ dissatisfaction, Apple is likely to roll out its next operating system iOS 14 for its older version of iPhone as well. Earlier, the next level of iOS updates used to leave iPhone users humming against Apple’s policy of treating its phone buyers.
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WhatsApp is all set to roll out the dark mode for its iPhone users with the launch of an update for the beta version on Google play platform, claimed wabetainfo(dot)com which covers all aspects of WhatsApp for iOS users.
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Aavas Financiers (Aavas) reported Q3FY20 disbursements of Rs 753 crore, up 6% y-o-y. Important to note here that, incrementally, the number of loan application logins have been about 20%-25% higher y-o-y. Even with this strong demand, the disbursements were low primarily because of the conservatism that the company adopted in a weak macro-economic environment.
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The renewed strategy in the US, the enhanced focus on branded generics in emerging markets and the cost-control initiatives are promising steps that bolster DRL’s earnings prospects. We raise our EPS estimate by 7.3%/8.2%/9.2% for FY20/21/22 to factor in the better outlook in India/Russia, the higher gross margin and the scope of enhancing operating leverage. However, we maintain our ‘neutral’ rating as we await a better entry point.
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As green shoots of economic revival have started to become visible, HDFC Chairman Deepak Parekh today said every economy goes through slowdown but there is no doubt that the slump is temporary and the USD 5 trillion economy target is achievable.
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India has pitched for elimination of trade-distorting subsidies on agriculture and ensuring differential treatment to developing countries by the WTO members, the commerce ministry said on Tuesday.
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Maruti Suzuki on Tuesday reported a 5% year-on-year (y-o-y) increase in its net profit at Rs 1,565 crore for the quarter ended December 2019 as marginal recovery in volume growth, lower tax expenses and fall in commodity prices, were offset by higher sales promotion expenses, depreciation and lower other income. The profits were slightly below Bloomberg consensus estimates of Rs 1,587 crore.
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Credit and debit card information from customers of the food and gasoline chain WaWa Inc. is being sold online, according to the fraud intelligence company Gemini Advisory. The breach “ranks among the largest payment card breaches of 2019, and of all time” because it potentially affected 850 stores and 30 million payment records, Gemini Advisory said in a report on Tuesday.
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Bharatiya Mazdoor Sangh (BMS), an RSS-affiliated trade union, on Tuesday slammed the Centre’s plan to privatise Air India. It urged the government to think “a hundred times” before going for privatisation of the airline.
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Source: Financial Express
