31st March, 2020 Morning Brief

Market will open with a gap up today after yesterday's fall. 

Asian markets have opened mixed on Tuesday morning despite a strong day of trade in the U.S. The U.S. dollar is holding on to gains against peers while gold is declining.

Markets in Australia and South Korea have opened with gains while Japanese equities are declining for the second day in a row.

Futures on the S&P 500 are edging higher after the index climbed for the fourth time in five sessions.

🎯 Jubilant Lifesciences : 

Bloomberg News reports that some employees at its Mysore unit have been found Covid-19 positive. The plant has been shut for sanitisation and workers have been self-quarantined.

🎯 Hero Group : 

Pledged Rs 100 Crore for the ongoing Covid-19 relief-efforts in India.

🎯 Bharti Airtel : 

Extended the pre-paid pack validity for over 80 million customers till April 17.

🎯 HPCL : 

Bloomberg News reports that the company has issued force majeure on Iraq’s oil marketing company.

🎯 Reliance Industries : 

Announced Rs 500 Crore contribution to PM-CARES fund.

🎯 Infosys Foundation : 

Committed Rs 100 crore towards Covid-19 relief efforts, out of which Rs 50 crore has been earmarked for PM-CARES fund.

🎯 Adani Transmission and Tata Power : The Government of Maharashtra announced on Monday that electricity tariff will be cut by an average of 8 percent for the next five years to help businesses and people tide over the Covid-19 crisis.

Negative for the stocks. 

🎯 Heidelberg Cement : 

De-bottlenecking projects at Imlai and Jhansi plants have been duly completed and the grinding capacity of these plants has been enhanced to 6.26 million tons per annum.

🎯 Britannia : 

Despite products being essential, operations have been disrupted due to the lockdown. The company said that it is taking all necessary steps to restore operation of factories.

🎯 Suzlon Energy : 

Lenders led by State Bank of India have approved a resolution plan of the company and its certain identified subsidiaries.

Positive for the stock.

🎯 Aster DM Healthcare : 

Sold its loss-making pharmacies in Kuwait for 4,83,000 Kuwaiti Dinar.

🎯 Godrej Industries : 

Promoter Anamudi Real Estates acquired 3 lakh shares between March 26-27.

Positive for the stock. 👍 

🎯 HFCL : 

Promoter Mahendra Nahata acquired 4.15 lakh shares on March 30.

Positive for the stock. 👍 

🎯 JSW Steel : 

Promoter JTPM Metal Traders acquired 9.35 lakh shares between March 26-27. 

Positive for the stock. 👍 

🎯 India Cements : 

Promoter Anna Investments acquired 1.3 lakh shares between March 26-27.

Positive for the stock. 👍 

🎯 Gateway Distriparks : 

Promoter Perfect Communications acquired 1.2 lakh shares between March 26-27.

Positive for the stock. 👍 

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Edited by Sharp.