30th April, 2019 Morning Brief

Market will open on a flat note today after an extended weekend.

Asian stocks declined in early trading Tuesday ahead of key China data that will provide clues on global economic growth.

U.S. stocks rose above their record high at the start of a week packed with data that will provide clues on global economic growth. The U.S. Fed’s rate decision is on Wednesday.

🎯 News & Impact 🎯

Major Results Today :
Kotak Bank, Ambuja, Canfinhomes

Results Updates :

🎯 Hero MotoCorp (Q4, YoY)
Revenue down 7.9 % to Rs.7,885 crore. Net profit down 24.5 % to Rs.730.3 crore.
Negative for the stock.

🎯 Yes Bank (Q4, YoY) :
Net Interest Income up 16 % to Rs. 2,505.93 crore.
Net loss at Rs.1,506 crore versus net profit to Rs.1,179 crore.

🎯 HDFC AMC (Q4, YoY) :
Revenue up 3.8 % to Rs.486.50 crore.
Net Income up 60 % to Rs.276.17 crore.

🎯 Reliance Nippon (Q4, YoY) :
Revenue down 22 % to Rs.343.2 crore.
Total expenses down 35 % to Rs.185 crore.
Net profit up 31.6 % to Rs.152.1 crore.

🎯 Sudarshan Chemical :
Company completed the divestment of its Industrial Mixing Solutions Division to GMM Pfaudler.

🎯 Eclerx Services : 
Board determined the buyback price at Rs 1,500 per share for 17.46 lakh shares, or 4.52 percent of total equity capital, aggregating to Rs.262 crore.

🎯 Dr. Lal Pathlabs :
Received show-cause notice (dated April 22) from the GST department, demanding for a service tax of Rs 229.51 crore from services provided from October 2013 to June 2017.

🎯 Texmaco Rail & Engineering :
Board said that the NCLT approved amalgamation between the company, Texmaco Hitech and Bright Power.

🎯 NIIT Technologies :
CCI approved acquisition of share capital of NIIT Technologies by Hulst BV.

🎯 Garden Reach Shipbuilders :
Company awarded contract for construction and delivery of eight ASW Swallow Water Craft valuing around Rs. 6,311.32 crore under fixed price basis.

🎯 NHPC :
Company signed a Memorandum of Understanding (MoU) with Indian Army to undertake construction of semi underground bunkers and fully underground caverns at different locations in India.

🎯 Thyrocare Technologies :
Company promoter group Pavilion Commercial acquired 10,000 shares on April 22.
Positive for the stock. 👍

🎯 NTPC :
Company to start commercial operations at its Gadarwala plant w.e.f. April 30.

🎯 Cipla :
Company receives final approval for generic version of Gilead Sciences, Inc's Letairis.
Positive for the stock. 👍

🎯 OnMobile Global :
Company incorporates subsidiary company OnMobile Bangladesh Technologies.

🎯 Glenmark :
Company launches novel, globally‐researched anti‐diabetes drug Remogliflozin in India.

🎯 Kotakbank :
Kotak Mahindra Investments, a wholly owned subsidiary of Kotak Mahindra Bank, completed the sale of its entire equity stake in Matrix Business Services India.

🎯 Shankara Building Products :
Company approved partial sale of assets including land, building and equipment of Taurus Value Steel & Pipes.

🎯 Precision Camshafts :
Company approved to initiate liquidation of a wholly owned subsidiary company PCL (Shanghai) Co.

🎯 JSW Energy :
Company secured a purchase order from Telangana State Discoms of 300 MW.

🎯 TVS Motors :
Company to invest Rs.63,268 in Altizon Systems.

🎯 Apollo Tyres :
Company promoter group Motley Finance created pledge of 41.25 lakh shares and revoked pledge of 38.5 lakh shares and promoter group Apollo Finance revoked pledge of 35 lakh shares from April 22-24.

🎯 Emami :
Promoter group Bhanu Vyapaar created pledge of 16.7 lakh shares on April 22-23.
Negative for the stock.

🎯 Sun Pharma :
Company promoter group Shanghvi Finance revoked pledge of 43.75 lakh shares on April 25.
Positive for the stock. 👍

🎯 Forbes & Company promoter Shapoorji Pallonji created pledge of 33.53 lakh shares on April 25.

🎯 GATI :
Company promoter group Mahendra Kumar Agarwal and Sons HUF invoked pledge of 55,000 shares on April 23.
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Edited by Sharp.