27th October, 2019 Morning Brief

Market will open with a gap up on this special session today. 

The S&P 500 Index on Friday briefly surpassed its closing record amid positive signs on trade talks and as investors assessed corporate earnings.

🎯 News & Impact 🎯 

🎯 Tata Motors (Q2, YoY) :

Revenue down 9.1 % to Rs 65,432 crore. Net loss at Rs 216.5 crore versus net loss at Rs 1,049 crore.

🎯 ICICI Bank (Q2, YoY) :

Net interest income up 25.5 % to Rs 8,057.4 crore. 

Net profit down 27.9 % to 654.96 crore.

Negative for the stock. 👎

🎯 HDFC AMC (Q2, YoY) :

Revenue up 3.7 % to Rs 498 crore. 

Net profit up 78.8 % to Rs 368.2 crore

Total AUM up 25 % to Rs 3,66,200 crore.

Positive for the stock. 👍 

🎯 Pfizer (Q2, YoY) :

Revenue up 9.1 % to Rs 567.1 crore. 

Net profit up 61 % to Rs 154.3 crore.

🎯 Reliance :

The boards of Reliance Industries and its wholly owned subsidiary Reliance Jio Infocomm Ltd., in separate meetings today, approved the creation of a new digital platform holding company as well as a debt restructuring.

Positive for the stock. 👍 

🎯 Mahindra & Mahindra :

M&M's subsidiary Mahindra Two Wheelers Europe will fully acquire France-based Peugeot Motorcycles for an undisclosed amount.

🎯 Lemon Tree Hotels : 

Unit’s board approved acquisition of 100 % stake in Berggruen Hotels and issuance of convertible preference shares for an amount not exceeding Rs 421 crore to APG Strategic Real Estate Pool NV and Lemon Tree Hotels.

🎯 NTPC :

Company entered in a JV and Shareholders Agreement with Ceylon Electricity Board for development of 300MW LNG Power Project.

🎯 Excel Industries :

Company has completed the acquisition of the chemical manufacturing unit of NetMatrix Crop Care in Andhra Pradesh.

🎯 Edelweiss Financial Services : 

Arthur Gallaghar has acquired minority stake in the company’s arm Edelweiss Insurance Brokers.

🎯 Ashiana Housing :

Company launched the first phase of its residential project in Jamshedpur.

🎯 Tata Power :

Company’s joint venture will acquire two power plants at Kalinagar for Rs 920 crore from Tata Steel. The JV has also signed tolling agreements with Tata Steel for supply of power from the afore-mentioned power plants.

🎯 Engineers India :

Company has won order from HPCL regarding LPG cavern project at Mangaluru for Rs 83 crore and EPC order worth Rs 185 crore from Numaligarh Refinery.

🎯 Wonderla Holidays :

Company to commence construction of an amusement park in Chennai soon.

🎯 Astec LifeSciences :

Company received grant of patent in respect of invention of a method for production of cyclopropane derivatives for a period of 20 years from the date of filing for patent, i.e. April 2014.

🎯 Telecom Sector :

Bharti Airtel, Vodafone Idea in Focus: Further setback to telecom companies; Supreme Court orders companies to pay dues to Department of Telecommunications within 3 months

🎯 Mindtree :

Company promoter Kamran Ozair sold 1.2 lakh shares from Oct. 23-24.

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Edited by Sharp.