5th November, 2019 Morning Brief

Market will open on a positive note today.

Asian stocks and U.S. futures gained on Tuesday after further records were reached on Wall Street, spurred by signs that the U.S. and China are inching toward a trade deal.

U.S. stock benchmarks climbed to all-time highs, while Treasuries tumbled as trade optimism fuelled demand for risk assets.

🎯 News & Impact 🎯 

Major Results Today :

Tech Mahindra, Titan

Results Updates :

🎯 Bharat Electronics (Q2, YoY) :   Revenue fell 19 % to Rs 2,748.3 crore.Net profit fell 40.9 percent to Rs 343.9 crore.

🎯 Sudarshan Chemical (Q2, YoY) : Revenue rose 10.3 % to Rs 400.3 crore.Net profit rose 87.8 % to Rs 46.2 crore. Positive for the stock. 👍 

🎯 Yes Bank :                                       Rakesh Jhunjhunwala buys 0.5% stake in bank for Rs 86.89 crore. 

🎯 SRF :                                                  Board approved capex of Rs 40 crore to expand the capacity for production of a high-volume specialty product that finds application in agro, pharma and other specialty industries.

🎯 Tata Steel :                                Company’s arm to sell its entire stake of 56.5 percent in a Vietnamese based NatSteel Vina for Rs 36 crore to Thai Hung Trading.

🎯 SMS Lifesciences :                   Company said that they are confident of manufacturing Ranitidine HCL well within the new limits set by the U.S. Food and Drug Administration.

🎯 Sical Logistics :                                   RBL Bank has invoked pledge of 1.65 lakh shares held by the company in its arm Sical Logixpress provided as security for the financial facilities for the arm.   Positive for the stock. 👍

🎯 Tata Power :                               Company as created a new arm to set up 10,000 Microgrids in India by 2026. TP Renewable Microgrid will be setup in collaboration with Rockefeller Foundation.

🎯 Emami :                                     Promoters hold 52.74 % stake in the company, out of which 66.55 % of their stake is pledged.

🎯 Torrent Pharma :                        Company clarified that promoters have not pledged any equity shares they hold in the company for any purpose.

🎯 SMS Lifesciences :    Company confident of manufacturing Ranitidine HCL well within the new limits set by the USFDA. 

🎯 V2 Retail :                                    Company promoter Ricon Commodities acquired 2.3 lakh shares on October 31.

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Edited by Sharp.