Key benchmark indices tanked on the special trading session for Union Budget for 2020-21 as it turned out to be a big disappointment for the market as a wider fiscal deficit (at 3.8 per cent) for FY20, absence of any announcement on reduction in Long-Term Capital Gain (LTCG) tax, and a new personal income tax regime (that came with various riders) gave away no clear roadmap of how the government planned to bring the country out of the persisting economic slowdown.
Apple Inc would shut all of its official stores and corporate offices in mainland China until Feb 9. as fears over the coronavirus outbreak mounted and the death toll more than doubled to over 250 from a week ago. U.S. stocks were lower after the close on Friday, as losses in the Oil & Gas, Technology and Industrials sectors led shares lower. The DJIA lost 2.09% to hit a new 1-month low.
Diversified conglomerate ITC Ltd reported a 29 per cent jump in net profit to ₹4,142 crore for the quarter ending December 31, 2019. The company’s net profit in the year-ago period stood at ₹3,209 crore.
Hindustan Unilever Limited (HUL) on Friday posted a 12.95 per cent increase in consolidated net profit to 1,631 crore for the third quarter ended December 31, 2019, driven by a margin improvement and sustained volume growth.
Coromandel International Limited posted a profit of 265 crore for the third quarter ended December 31, 2019 against a profit of 154 crore for the corresponding quarter last year on consolidated basis, registering a year-on-year growth of 72 per cent.
Anil Agarwal-owned Vedanta has acquired Ferro Alloys Corporation (Facor) and its subsidiary Facor Power through the insolvency driven process.
Bureau Heritage Foods has posted a lower profit of ₹11.70 crore for the third quarter ended December 31
Germany stocks were lower, as losses in the Technology, Construction and Consumer & Cyclical sectors led shares lower.The DAX declined 1.33% to hit a new 1-month low, while the MDAX index fell 0.72%, and the TecDAX index fell 1.41%.
France stocks were lower, as losses in the Foods & Drugs, Gas & Water and General Financial sectors led shares lower.The CAC 40 fell 1.11% to hit a new 1-month low, while the SBF 120 index lost 1.01%.
Denmark stocks were higher, as gains in the Financials, Consumer Services and Oil & Gas sectors led shares higher.The OMX Copenhagen 20 added 0.27%.
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