13th February, 2020 Morning Brief

Market will open on a flat note today. 

U.S. stock futures retreated along with the offshore yuan, and the yen gained as China reported an increased number of coronavirus cases in Hubei, using a revised method.

U.S. equities closed at record highs on Wednesday as optimism grew that the global economy can recover from the impact of the coronavirus amid signs the spread of the illness is slowing.

🎯 News & Impact 🎯

Major Results Today :

BPCL, Nestle 

🎯 IRCTC (Q3, YoY) :

Revenue rose 64.6 % to Rs 716 crore. 

Net profit rose 2.8 times to Rs 205.8 crore.

Margin stood at 37.1 % versus 22.7 %

Positive for the stock. 👍 

🎯 Ashok Leyland (Q3, YoY) :

Revenue fell 36.5 % to Rs 4,015.7 crore. Net profit fell 92.7 % to Rs 27.8 crore.

🎯 Torrent Power (Q3, YoY) :

Revenue fell 5.4 % to Rs 3,079 crore. 

Net profit rose 77 % to Rs 419.4 crore. 

Margin stood at 27.3 % versus 22.6 %

🎯 PI Industries (Q3, YoY) :

Revenue rose 20.1 % to Rs 849.8 crore versus Rs 707.5 crore. 

Net profit rose 12.4 % to Rs 121.1 crore.

🎯 PI Industries : 

Board approved the merger of the company’s arm Isagro with the company.

🎯 AstraZeneca Pharma / Alembic /Cadila : 

Parent Company AstraZeneca said proposed generic versions of a lung cancer treatment by Alembic, MSN Labs and Zydus Cadila infringe a patent for Tagrisso Cancer Drug.

🎯 Religare Enterprises :

Company plans to acquire remaining 14.36 percent stake in Religare Finvest from Resurgence PE Investments for Rs 47.05 crore. The company’s stake in Religare Finvest is set to 100 percent from 85.64 %

🎯 BHEL :

Company signed a memorandum of understanding with Russia’s Rosoboronexport. The aim of the MOU is to cooperate and undertake joint projects and operations for Defence Systems. This will help in leveraging BHEL's capabilities in the Defence Sector in association with Russian OEMs.

🎯 General Insurance Corporation of India :

Company obtained a license from Bank of Russia for the commencement of reinsurance business in Russia.

🎯 Aurobindo Pharma :

Company has completed the acquisition of certain business assets of Profectus BioSciences.

🎯 Rico Auto Industries :

Company started commercial production of its new plant in Alwar to manufacture and supply auto components, from Jan. 1.

🎯 Pricol :

Company has called off its JV with Pointer Telocation, as the target company was acquired by USA’s ID Systems and business terms were not favourable for the company to continue to the formation of JV.

🎯 PNC Infratech :

Company declared L1 Bidder for HAM Project in Uttar Pradesh for a bid cost of Rs 2052 crore.

🎯 Karur Vyasa Bank :

Company has commenced its bullion business.

🎯 KPI Global Infra :

Company received an order for executing solar power project of 810KW capacity from two companies in Surat.

🎯 KNR Constructions :

Company received appointed date by Karnataka Government for EPC projects whose bid cost stood at Rs 1,144.5 crore.

🎯 HSIL : Promoter Paco Exports acquired 5.87 lakh shares (0.81 percent) at Rs 55.43 each. 

Positive for the stock. 👍 

🎯 Parag Milk Foods : 

Norges Bank sold 14.17 lakh shares (1.69 percent) at Rs 92 each.

🎯 Aavas Financiers :

Company promoter Lake District Holdings sold 36.7 lakh shares on Feb. 7

🎯 Globus Spirits :

Company promoter Chandhbagh Investments sold 24,000 shares on Feb. 11

🎯 Persistent Systems :

Company promoter Rama-Purushottam Foundation sold 1,500 shares on Feb. 11

🎯 Laurus Labs :

Company promoter Srihari Kalidnidi sold 32,000 shares from Feb. 7-11.