12th February, 2020 Morning Brief

Market will open on a positive note today.

Asian stocks opened in mixed fashion Wednesday as investors weighed the spreading coronavirus against expectations for policy support.

U.S. stocks fought off a late-session swoon to close at fresh heights Tuesday, amid reports that the Federal Trade Commission is looking into acquisitions by some of the country’s biggest tech companies.

India to release consumer-price inflation for January and factory output data for December may be on a better level. 

🎯 News & Impact 🎯

Major Results Today :

Hindalco 

🎯 Hospital stocks are expected to hog the limelight as all medical devices sold in the country would be treated as drugs and would be regulated under the Drugs and Cosmetics Act of 1940, from April 1. 

🎯 Coal India (Q3, YoY) :

Revenue fell 7.4 % to Rs 2,3190.5 crore. 

Net profit fell 14.1 % to Rs 3,923.9 crore. 

Margin stood at 21.4 % versus 27.1 %.

Negative for the stock. 

🎯 Hindalco : Novelis (Q3, YoY)

Net sales fell 10 % to $2.7 billion. 

Net Income rose 37 % to $107 million.

🎯 Cochin Shipyard (Q3, YoY) :

Revenue rose 25 % to Rs 896.1 crore. 

Net profit rose 32.4 % to Rs 169.8 crore.

Positive for the stock. 👍 

🎯 Bharat Heavy Electricals (Q3, YoY) :

Revenue fell 22.6 % to Rs 5,680.8 crore. 

Net profit fell 17.2 % to Rs 162.7 crore. 

Negative for the stock.

🎯 HEG (Q3, YoY) :

Revenue fell 78.9 % to Rs 393.7 crore. 

Net loss at Rs 1.2 crore versus net profit at Rs 865.5 crore.

Negative for the stock. 

🎯 SBI :

As per reports, SEBI has given its approval for the initial public offer (IPO) of SBI Cards and Payment Services, the cards unit of the State Bank of India (SBI). The company is expected to raise Rs 500 crore. 

🎯 Sun Pharma Advanced Research :

Company received a complete response letter from U.S. FDA for the new drug application for Taclantis.

🎯 Vikas Proppant & Granite :

Company received Pollution Control Board’s nod to operate mines for mining granite in Jodhpur.

🎯 Reliance Naval & Engineering :

Company received a show-cause notice from the Ministry of Defense, for termination of contract relating to 5 Naval Offshore Patrol Vessels.

🎯 Lumax Auto Technologies :

Company approved server 6ing the notice to Gill-Austem LLC (JV Partner) for termination of Joint Venture Agreement due to non-performance of the obligation by the JV Partner even after the expiry of the cure period in terms of the agreement.

🎯 Mercator : 

SBI and ICICI Bank have filed proceedings against the company under the Insolvency Act to recover the outstanding dues

🎯 HSIL : 

Promoter Paco Exports acquired 4.54 lakh shares (0.63 %) at Rs 53.31 each.

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Edited by Sharp.