India Gold MCX April Futures are trading flat thanks to a positive bias on February 10 tracking positive trend seen in the international spot prices. On the Multi-Commodity Exchange (MCX), April gold contracts were trading higher by 0.2% at Rs 48,050 for 10 grams at 0920 hours. The yellow metal has support at Rs 47750-47500 and resistance at Rs 48300-48580.

Twitter has started complying with the Indian government orders to clamp down on specific accounts and tweets related to the farmer protests. The government has claimed that the accounts are posting content that's provoking separatist sentiment or are being run by organisations or individuals in Pakistan and are allegedly spreading misinformation about farmer protests.

SpiceJet will announce its December quarter earnings on February 10. the budget carrier is expected that the numbers will show sequential improvement. Brokerage firm Prabhudas Lilladher forecasted the airlines to report a 66.6% QoQ growth in December quarter sales and 76.2% QoQ growth in EBITDAR. The brokerage firm expects SpiceJet to report revenue de-growth of 52% YoY but yields to grow 8%.

Polyplex Corporation directors announced the payment of third interim dividend (Special) for the FY 2020-21 of Rs.100 per share (of the face value of RS.10/- each). Record date' for the purpose of payment of Third Interim Dividend for the Financial Year 2020-21 has been fixed as February 19, 2021. The company manufactures Biaxially Oriented Polyester Film for packaging and electrical applications.

Audi unveils a new electric four-door luxury coupe, which is also one of the most powerful cars Volkswagen AG’s premium brand has ever built. It offers slightly less-blazing acceleration than Tesla Inc.’s latest flagship sedan, the Plaid version of the Model S. The latest electric coupe from Audi will promote its latest design and technology rather than boosting EV volumes.

Prime Minister Narendra Modi will inaugurate the World Sustainable Development Summit 2021 on February 10 at 6:30 pm via video conferencing. According to an official release, the theme of the Summit is 'Redefining our common future: Safe and secure environment for all'. The flagship event of The Energy and Resources Institute's (TERI) will be held online from February 10 to February 12.

Brokerages have shrunk target prices of FMCG major Britannia Industries after its December quarter results fell short of estimates. CLSA reduced target price by 7.3% by bringing it down from Rs 4100 to Rs 3800, Edelweiss reduced it by 4.7% to Rs 4,140. HSBC. Kotak Institutional and Nomura cut their target price by 6-7%. Most brokerages maintained an overweight or buy recommendation on the stock.

Liquidation of companies will be easier with the NCLAT removes taxman’s claim that the liquidator has to get tax deducted at source while liquidating a bankrupt company. In the case between S Kumars Nationwide and Chief Commissioner of Income Tax, the NCLAT ruled the liquidator need not prepare a balance sheet and profit & loss account and get it audited during the liquidation process.

Single-dose of the Pfizer-BioNTech vaccine provides two-thirds protection against Covid-19 infection, according to data revealed by the U.K. government. Early findings from the U.K.’s vaccination program, due to be published within days, suggest that the first dose reduced the symptomatic infection risk among patients by 65% in younger adults and 64% in over-80s.

The USFDA granted emergency use authorization (EUA) to Eli Lilly's combination antibody therapy to fight COVID-19. The drugmaker's combination therapy of two antibodies, bamlanivimab and etesevimab, aided to cut the risk of hospitalization and death in COVID-19 patients by 70%, according to data sourced from a late-stage trial published in January.

Hindalco Industries is expected to report its December quarter results today, February 10. Kotak Institutional Equities estimates its India EBITDA (standalone + Utkal) to grow 23% YoY on higher commodity prices and higher volumes in aluminium offset by lower volumes in copper. It would translate to 253 bps expansion in the margin.

Brookfield Asset Management is planning to purchase 1,200 MW of solar assets and the engineering, procurement and construction division of Mahindra Susten. The asset management company has entered into exclusive talks for the acquisition and will pay about Rs Rs 4,200-Rs 4,500 crore, which is about Rs 3.5 crore/MW. Actis is said to be another contender for Mahindra Susten’s assets.

Eicher Motors is expected to register double-digit growth in revenue as well as operating income driven by Royal Enfield business for the Q3-2020. Profit growth could be in single digit, but operating profit margin may contract on a YoY basis on higher commodity prices. Emkay Global forecasts revenue to grow 21.2% driven by a rise in volumes and 15% increase in realisations.

GAIL India is expected to announce its Q3 FY21 results on February 10. The state-owned natural gas processing company may register double-digit sequential growth in earnings for the quarter ended December 2020 driven by an increase in gas consumption. Kotak Institutional Equities expects a 28% sequential growth in profit, 61.5% increase in EBITDA with 363 bps margin expansion.

The deadline for Vodafone Idea (Vi) and a foreign lenders’ consortium meet for finalising the terms of a $2-billion credit line for the telco is extended to February 28 from January 31. US-based investment firm Oak Hill is leading the consortium, which includes GoldenTree Asset Management and Sixth Street among others to provide an around $2 billion (Rs 14,600 crore) credit line to Vi.