26th April 2019, Morning Brief

Market will open on a positive note today after last hour slide witnessed yesterday.

US markets ended mixed yesterday.

Worry about rising crude oil prices and INR loosing strength against US dollar pushed indices into negative zone yesterday.

🎯 News & Impact 🎯

Major Results Today :

Yes Bank, Hero MotoCorp, HDFC AMC, HDFC Life.

Results Updates :

🎯 Axis Bank (Q4, YoY) :
Net interest income up 20.6 % to Rs. 5,705.59 crore.
Net profit at Rs.1,505.06 crore versus net loss of Rs.2,188 crore.
Gross NPAs at 5.26 % versus 5.75 %. (QoQ).

🎯 Biocon (Q4 Consolidated, YoY) :
Revenue up 30.7 % to Rs.1,528.8 crore.
Net profit up 63.9 % to Rs.213.7 crore.
Positive for the stock. 👍

🎯 GHCL Standalone (Q4, YoY) :
Revenue up 26.2 % to Rs.911.3 crore.
Net profit up 44.3 % to Rs.118.6 crore.
Positive for the stock. 👍

🎯 SBI Life Insurance (Q4, YoY) :
Net Premium Income up 23 % to Rs. 11,333 crore.
Net profit up 20 % to Rs.457.7 crore.
Positive for the stock. 👍

🎯 Tata Steel (Q4 Consolidated, YoY) :
Revenue up 25.9 % to Rs.4,2423.9 crore.
Net profit down 76.1 % to Rs.2,431 crore.

🎯 Tata Steel :
Board approved merger of Bamnipal Steel and Tata Steel BSL into the company by way of amalgamation in ratio of 1:15.

🎯 Apcotex Industries : 
Board approved share split from face value of Rs.5 to Rs. 2 per share. 

🎯 CES :
Company approved to acquire further 30% stake in one of subsidiary CES Global IT Solutions.

🎯 Sun Pharma :
Promoter group Shanghvi Finance revoked pledge of 1.25 crore shares on April 9.
Positive for the stock. 👍

🎯 Sobha :
Company promoter PNC Menon revoked pledge of 1 crore shares and created a pledge of 1 crore shares from April 22-23.
Positive for the stock. 👍

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Edited by Sharp.