14th February, 2020 Morning Brief

Market will open on a flat note today. 

U.S. equity futures slipped along with stocks in Tokyo and Seoul, though moves were modest after the Chinese province at the centre of the coronavirus outbreak reported more deaths.

U.S. equities had a turbulent Thursday, fluctuating between gains and losses on mixed news about the coronavirus outbreak, only to fade after the Federal Reserve Bank of New York said it will further shrink repurchase agreement operations.

🎯 News & Impact 🎯

Major Result Today :

ONGC

🎯 BPCL (Q3, QoQ) :

Revenue rose 16.2 % to Rs 74,732.8 crore. 

Net profit fell 26.2 % to Rs 1,260.6 crore. 

Ebitda rose 13.8 % to Rs 2,703.4 crore.

🎯 Nestle (Q4, YoY) :

Revenue rose 8.7 % to Rs 3,149 crore. 

Net profit rose 38.4 % to Rs 473 crore.

Ebitda rose 23.1 % to Rs 678 crore. 

Positive for the stock. 👍 

🎯 Vodafone Idea (Q3, QoQ) :

Revenue rose 2.3 % to Rs 11,089.4 crore. 

Net loss at Rs 6,438.8 crore versus loss of Rs 50,922 crore. 

Ebitda rose 0.7 % to Rs 3420.5 crore.

🎯 Apollo Hospital Enterprises (Q3, YoY) :

Revenue rose 17 % to Rs 2,911 crore. 

Net profit rose 83 % to Rs 90 crore. 

Ebitda rose 53 % to Rs 428 crore.

🎯 Avenue Supermarts :

Company’s promoters plan to sell 2.28 % stake via offer for sale of shares. Promoters to sell up to 1.48 crore shares at a floor price of Rs 2,049 per share for Rs 3,032.52 crore.

🎯 BPCL : 

Board approved to initiate the process of divestment of the company’s shareholding of 61.65 % stake in Numaligarh Refinery as per the decision of Cabinet Committee on Economic Affairs.

🎯 M&M :

Company clarified that the Board of SsangYong Motor has approved a 3 years business plan which will lead to the profitability of the company in the year 2022.

🎯 Adani Green Energy :

Company has entered into a binding agreement with Total, who will invest $510 million for the acquisition of a 50 % stake in a JV company which will house 2,148 MWAC operating solar projects presently which are 100% owned by Adani Green Energy.

🎯 Eveready :

Yes Bank sold 9.47 % stake in Eveready Industries in various tranches.

🎯 NACL Industries : 

Board approved the formation of the new arm to take up a Greenfield project for manufacturing various chemicals including agrochemicals in the State of Gujarat, with an initial capital outlay of about Rs.150 crore. The board also of another arm to take up Company’s proposed Greenfield project at Andhra Pradesh.

🎯 Jai Corp : 

Board approved the discontinuation of Masterbatch and Dyeing Unit, disposal of land and building in Daman and approved deleveraging the Balance Sheet by divesting certain non-core assets.

🎯 V2 Retail :

Company promoter V2 Conglomerate acquired 1lk shares on Feb. 11. 

🎯 Alkem Lab :

Company promoter Nawal Singh sold 1lk shares from Feb. 10-12.

Negative for the stock. 

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Edited by Sharp.