3rd February, 2020 Morning Brief

Market will open on a flat note after a backbone braking fall witnessed on the Budget day.

Asian stocks retreated ahead of the reopen of mainland Chinese markets as a deadly virus outbreak showed no signs of slowing.

Futures of major US indices trading up by more than half a percent in the morning today.

🎯 News & Impact 🎯

Auto Sales :

Maruti :                                                  Company reported a 1.6% increase in sales at 1,54,123 units in January. Domestic sales increased by 1.7% at 1,44,499 units last month, as against 1,42,150 units in January 2018, it added.                                                                        Tata Motors :                                    Domestic sales fell 18 % to 45,242 units.    Commercial vehicles sales fell 16 % to 33,860 units.                                    Passenger vehicle sales fell 22 % to 13,894 units.

Hero MotoCorp                                        Two-Wheeler Sales fell 14 % to 501,622 units.

Eicher Motors                                              Motorcycle sales fell 13 % to 63,520 units. VECV sales fell 6.1 percent to 5,544 units.

SML Isuzu                                                Sales rose 11.5 % to 1,112 units. 

M&M                                                  Mahindra and Mahindra (M&M) on Saturday reported a 4 % increase in tractor sales at 23,116 units in January. The company had sold 22,212 tractors in the same month last year.

Oil-linked stocks such as OMCs, paint, tyre and aviation may remain in focus as crude oil prices extended decline on Monday, dragged down by worries about lower demand in the world’s largest oil importer China following the coronavirus breakout.

🎯 Relaxo Footwears (Q3, YoY) :

Revenue rose 8.8 % to Rs 599.9 crore.

Net profit rose 52.2 % to Rs 54.2 crore.

Positive for the stock. 👍 

🎯 Chambal Fertilisers Q3: 

Consolidated net profit at Rs 479.2 crore against Rs 159.6 crore YoY. 

Consolidated revenue went up 36.5% at Rs 3,832 crore against Rs 2,807 crore YoY.

Positive for the stock. 👍 

🎯 Thyrocare Technologies (Q3, YoY) :

Revenue rose 9.9 % to Rs 105.8 crore.

Net profit rose 36.1 % to Rs 27.5 crore.

🎯 Alkem Labs : 

Company gets tentative US FDA nod for generic of Samsca tablet

🎯 Coal India : 

January production rose 10.3 % at 63.11 MT versus 57.21 MT. Offtake rose 6.9 percent at 56.05 MT versus 52.44 MT.

🎯 Infoedge : 

IE Venture Fund to invest Rs 25.2 crore in Qyuki Digital Media.

🎯 HCL Tech :                                                IT major HCL Technologies is looking to increase the workforce at its Lucknow facility by 50 per cent by the end of next financial year 2020-21.

🎯 ONGC, Oil India :                              ONGC, IOC and other oil PSUs will invest over Rs 98,521 crore in the coming fiscal starting April 1 in exploring for oil and gas, refineries, petrochemicals and laying pipelines to meet needs of the world's fastest-growing energy consuming nation. 

🎯 Cochin Shipyard :                                The company has taken 100% stake in an SPV which it formed along with Hooghly Dock and Port Engineers Limited for modernisation and renovation of the two dry docks on western bank of the Hooghly river.

🎯 Shilpa Medicare : 

Company gets tentative US FDA nod for generic of Esbriet drug.

Positive for the stock. 👍

🎯 Info Edge :

IE Venture Fund I has entered into an agreement to invest about Rs 252 million equivalent to USD 3.5 million in Qyuki Digital Media.

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.