4th November, 2019 Morning Brief

Market will open on a positive note today.

Stocks edged higher in Asia and American equity futures advanced amid optimism China and the U.S. are moving closer to an interim trade deal.

🎯 News & Impact 🎯 

Major Results Today :

HDFC

Results Updates :

🎯 Yes Bank (Q2, YoY) :

Net Interest Income down 9.6 % at Rs 2,185.91 crore. 

Net loss at Rs 600.08 crore versus net profit at Rs.964.70 crore. 

Negative for the stock. 

🎯 JK Lakshmi Cement (Q2, YoY) :

Revenue up 9.8 % at Rs 935.5 crore. 

Net profit up 5 times at Rs 45.9 crore Ebitda up 62.3 % at Rs 148.6 crore. 

Positive for the stock. 👍 

🎯 Central Bank of India (Q2, YoY) :

Net Interest Income up 12.9 % at Rs 1,891 crore. 

Net profit at Rs 134.1 crore versus net loss at Rs.923.6 crore. 

Positive for the stock. 👍 

🎯 Reliance Capital :

Company has defaulted in payment of NCD obligations which were due on Oct. 31. 

🎯 Alkem Laboratories :

Company said that U.S. FDA has closed its inspection at its manufacturing facility in Daman and Baddi. The regulator has issued an EIR for both plants in the month of August when the inspection took place.

🎯 Coal India : 

Coal production in October down 20.9 % at 39.35 million tons versus 49.78 million tons. Coal offtake down 18.9 % at 40.5 million tons versus 49.96 million tons.

🎯 Berger Paints :

Company to increase its stake from 91.94 % to 95.53 % in STP Ltd. The target company has become the subsidiary of Berger Paints with effect from Nov. 1.

🎯 3i Infotech : 

Board approved sale of 74 % stake in company’s arm Locuz Enterprise Solutionz for Rs 23 crore.

Positive for the stock. 👍 

🎯 MOIL :

Company has reduced prices of all grades of manganese ore (37 % and above) by 20 % on existing prices for manganese ore (less than 37 percent) by 25 % on the current prices prevailing since Oct. 1.

🎯 Godrej Agrovet : 

Amalgamation of company’s two arms Creamline Dairy Products and Nagavalli Milkline has become effective on Oct. 31. 

🎯 Seamec :

Company said that subject contract for second season has commenced from Oct. 31 with mobilization of Barge Glorious.

🎯 Indiabulls Real Estate : 

Update on divestmet of London Property - Company’s wholly owned subsidiary has divested it entire stake in Century Limited to Clivedale Overseas Limited, an entity owned by the Promoters of the Company.

🎯 Cochin Shipyard :

Company acquired 57,20,000 shares or 26 percent equity of Hooghly Cochin Shipyard Ltd., an unlisted subsidiary of CSL. 

🎯 SpiceJet : 

Ajay Singh, promoter and chairman of the company, has pledged around 2.78 % stake for securing a credit facility for the budget airline.

🎯 IRB : 

NHAI terminates the Concession Agreements of IRB PP Project Private Limited and IRB PS Highway Pvt. Ltd. with effect from May 15, 2019 as per clause 4.5 of respective concession agreements.

🎯 BPCL :

Company promoter Government of India sold 69.12 lakh shares on Oct. 10.

🎯 Hatsun Agro Product :

Company promoter and director RG Chandramogan acquired 63k shares on Oct. 31