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JUST IN: Bharti Airtel signs pact with Amazon Web Services for cloud services to drive digital growth

Strides Pharma reports an increase of 14% in revenue and 28% in EBITDA year-on-year

Cadila announces completion of Phase I clinical trial of ZyCoV-D; Phase II from Aug 6

Zydus Cadila on Wednesday announced that its plasmid DNA vaccine to prevent COVID-19, ZyCoV-D was found to be safe and well-tolerated in Phase I clinical trial. The company will now commence Phase II clinical trials from August 6. The company reported that the doses of the vaccine administered to healthy volunteers in Phase I clinical trial, which began on  July 15, has been well-tolerated. Previously, the vaccine was found to be safe, immunogenic and well-tolerated in the pre-clinical toxicity studies. 

Commodity Update | Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel Broking Ltd

Gold has been really precious for investors in 2020 with an astounding double digit returns of 34 percent YTD in dollar terms and still continues its shine. The liquidity push by Central Banks across the globe has been a deciding factor for premium in gold prices as the pandemic continues to ravage global economy. The easy money policy is resulting in to chasing higher yields on asset classes which are considered to be safe in times of uncertainty, and nothing like gold, the safe haven asset which has historically been a go to investment for investors. Unless, global economy starts its recovery path, precious metals will continue to shine for the rest of 2020.

Jyothy Labs Q1FY21 | The comapny reported 33.7 percent rise in net profit at Rs 50.01 crore in Q1FY21 against Rs 37.4 crore, YoY. Revenue rose 2.5 percent to Rs 432.9 crore from Rs 422.5 crore, YoY. EBITDA increased 16.7 percent to 76.52 crore while EBITDA margin expanded to 17.7 percent from 15.5 percent, YoY.

EID Parry Q1FY21 | The company reported consolidated net profit of Rs 29.3 crore in Q1FY21 as against a loss of Rs 27.7 crore in the year-ago period. Revenue rose 32.5 percent to Rs 4,142 crore from Rs 3,127 crore, YoY. EBITDA increased 168 percent to Rs 430.6 crore from Rs 160.9 crore while EBITDA margin expanded by 520 bps to 10.4 percent from 5.2 percent, YoY.

Force Motors July auto sales | The company's total sales for the month of July 2020 fell 55.7 percent to 1,129 units versus 2,551 units. Total domestic sales were at 998 units and exports were at 131 units.

Godrej Properties reports loss against profit in the same quarter last year

BUZZING: Sunteck Realty rises above 12%, it's biggest intra-day gain in over 6 weeks

JUST IN: Mindtree appoints Venu Lambu as president of global markets

Gold at record high, valued at above Rs 55,000/10 gms in India currently

Six reasons for RBI to cut interest rate in August by BofA Securities

SPARC reports net profit of Rs 56.69 in Q1FY21; Stock jumps over 14%

Shares of Sun Pharma Advanced Research Company rallied over 14 percent on Wednesday after the company reported healthy earnings for the quarter ended June 2020. The stock rose as much as 14.84 percent to intraday high of Rs 199.95 on the BSE. The shares have zoomed over 146 percent since its 52-week low of Rs 81.00 hit on March 25, 2020. The company posted net profit of Rs 56.69 crore in Q1FY21 as against a loss of Rs 94.19 crore in the year-ago quarter. Revenue from operations during the quarter rose to Rs 185.45 crore from just Rs 17.32 crore, YoY.

Stock 360: Here’s why Maruti’s stock is up 10% from July lows

Gold rate today: Yellow metal at all-time high

Gold prices in India scaled new all-time high above Rs 54,700 level on the Multi Commodity Exchange (MCX) Wednesday following gains in international spot prices led by expectations of more stimulus measures and a weaker dollar, analysts said. Gold futures for October delivery rose 0.50 percent to Rs 54,823 per 10 grams as against the previous close of Rs 54,551 and opening price of Rs 54,777 on the MCX. “Gold prices traded near record highs on hopes of another stimulus package from the US, ETF inflows, sustained geopolitical tensions between US and China and a weak dollar. The sentiment remains positive as gold rise above Rs 55,000 level,” said Jigar Trivedi, Fundamental Research Analyst at Anand Rathi.

PI industries surges 7% after June quarter results

Shares of PI industries hit its all-time high of Rs 1,966 per share on BSE, up 7 percent after the company reported a strong set of numbers for the first quarter of the financial year 2020-21 (FY21). The company posted a 43 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 146 crore against Rs 102 crore reported in the corresponding quarter of the previous fiscal. Revenue for the quarter came in at Rs 1,060, up 41 per cent YoY.

India Nikkei/IHS Markit July services  PMI at 34.2 Vs 33.7 (MoM) & composite PMI at 37.2 Vs 37.8

Buzzing Stocks | Gujarat Gas stock price falls 3% post Q1 earnings

Gujarat Gas stock price fell over 3 percent in early trade on Wednesday after the company reported a sharp 74.7 percent YoY fall in net profit for the quarter ended June 2021. The stock shed as much as 3.84 percent to Rs 297.75 on the BSE.

The company’s net profit in Q1FY21 fell to Rs 59.1 crore from Rs 234 crore in the year-ago period. Revenue declined 58.6 percent to Rs 1,083 crore from Rs 2,614.6 crore, YoY. Earnings before interest, tax, depreciation and amortization (EBITDA) during the quarter fell 60.2 percent to Rs 185.7 crore whle EBITDA margin was at 17.1 percent.

Rupee Opens | The Indian rupee opened higher against the US dollar on Wednesday.

Technical View | The Nifty has gone past its resistance of 11,200 on opening. We need to see if we can sustain this level on a closing basis. If we can do that, the short term weakness would be nullified and the markets would then be headed to 11,400. On the flip side if the markets break 11,000 we would be back in a zone of short term weakness, said Manish Hathiramani, Index Trader and Technical Analyst, Deen Dayal Investments.

Reliance Industries top contributor to Nifty, trades near record high