30th April, 2020 Morning Brief

Market will continue yesterday's rally with a gap up opening today.

Markets across Asia are rising on the final day of the month amid signs of progress in the treatment of Covid-19. 

Global equities are poised for their biggest monthly gain since 2009 after posting one of their worst months on record in March.

Markets in Japan are up over 2 percent while gains are modest in Australia. Hong Kong and South Korean markets are shut on account of a holiday. The Federal Open Market Committee held interest rates near zero and said that "It may well be the case that the economy will need more support from all of us, if the recovery is to be a robust one.

The S&P 500 gained over 2.5 % overnight to rise to its highest level in seven weeks. Futures on the Nasdaq have advanced after results from Microsoft, Facebook and Tesla lifted sentiment.

🎯 News & Impact 🎯 

Major Results Today :

Reliance Ind, Hindunilvr, TechM

🎯 M&M Financial Services : Manulife Investment Management (Singapore) acquired 49 % stake in the company’s two wholly-owned arms Mahindra Asset Management and Mahindra Trustee. 

🎯 Britannia : 

Has paid Rs 21.7 lakh to SEBI for settlement of non-disclosure case of Ness Wadia’s arrest. 

🎯 Bharti Airtel : 

Clarified that it has renewed its relationship with Nokia to boost its network capacity and customer experience and the announcement in this regard was made by Nokia only.

🎯 Suven Pharma : 

Clarified that damages worth Rs 17 crore have been fully insured against the fire which took place at the company’s research and development lab in Jeedimetla. No impact on operations. 

🎯 Linde India : 

Promoter BOC Group sold 25,276 shares on April 27. 

🎯 Birlasoft : 

Promoters acquired 2.5 lakh shares on April 27. 

Positive for the stock. 👍 

🎯 Mahindra CIE Automotive : Promoter Participaciones Internacionales Autometal acquired 84,851 shares on April 27. 

Positive for the stock. 👍 

🎯 SBI Cards and Payment Services : 

Promoter SBI Life Insurance sold 15,550 shares between April 9-28. 

Positive for the stock. 👍 

🎯 Jagran Prakashan : 

Promoters created pledge of 18.28 lakh shares on April 21. 

Negative for the stock. 👎

🎯 Embassy Office Parks REIT : Promoter Embassy Property Developments created pledge of 4.12 crore units on April 29. 

Negative for the stock. 👎

🎯 DB Corp : 

Promoter DB Consolidated created pledge of 37.48 lakh shares on April 29. 

Negative for the stock. 👎

29th April, 2020 Morning Brief

Market will open with a gap up in continuation of today yesterday's rise.

Asian equity markets are trading mixed as U.S. futures turned positive amid a slew of corporate earnings. Markets in Australia and South Korea are trading with modest gains. Sentiment is capped after Samsung warned of a earnings hit in the second quarter due to the Covid-19 pandemic impacting demand. Markets are shut in Japan on account of a holiday. 

Benchmark indices in the U.S. declined during a choppy trading session led by a retreat in megacap technology stocks and more companies withdrawing earnings forecasts.

The U.S. Federal Reserve will announce its policy decision later tonight.

🎯 News & Impact 🎯 

Results Updates 

🎯 Axis Bank Q4FY20

Net Interest Income up 19.3 % to Rs 6,808 crore (Estimate: Rs 6,408 crore)

Net loss of Rs 1,387.8 crore from Net Profit of Rs 1,505.1 crore (Estimate: Profit of Rs 1,478 crore)

Provisions more than double to Rs 7,730 crore from Rs 3,470.9 crore sequentially. 

GNPA at 4.86 % from 5 % last quarter

NNPA at 1.56 % from 2.09 % last Quarter. 

Additional provision of Rs 3,000 crore made for Covid-19. 

Net Interest Margins stood at 3.55 %

Slippages at Rs 3,920 crore from Rs 3,012 crore last year.

🎯 Biocon : 

The company along with Mylan has launched Fulphila in Canada. Fulphila is approved by Health Canada to decrease the incidence of infection, as manifested by febrile neutropenia.

🎯 Spandana Sphoorty Financial : 

79 % of the total branches (794 out of 1,006) are present in the green zone and all of these have been operational since April 20.

🎯 GMR Infra : 

Promoter GMR Enterprises created pledge of 2.06 crore shares on April 27. 

Negative for the stock. 

🎯 Emami : 

Promoter Diwakar Viniyog created pledge of 69 lakh shares on April 24. 

Negative for the stock. 

🎯 Adani Ports and SEZ : 

Promoter SB Adani Family Trust revoked pledge of 1.53 crore shares on April 27. 

Positive for the stock. 👍 

🎯 Adani Transmission : 

Promoter SB Adani Family Trust revoked pledge of 69 lakh shares on April 27.

Positive for the stock. 👍 

28th April, 2020 Morning Brief

Market will open on a flat note today after a consolidation.

Asian markets are mixed at the start of trade on Tuesday morning after Wall Street saw modest gains overnight.

Markets in Japan have opened lower, while those in South Korea are trading with gains. Australian shares continue to remain subdued. Futures on the S&P 500 have slipped into the red after the benchmark closed at its highest level since March 10.

🎯 News & Impact 🎯 

Results Updates 

🎯 IndusInd Bank Q4FY20 :

Net Interest Income up 44.7 % compared to last year at Rs 3,231.2 crore. 

Net profit down 16.2 % year-on-year to Rs 301.8 crore. 

Gross NPA at 2.45 % Vs 2.18 % in Q3FY20. 

Net NPA at 0.91 % Vs 1.05 % in Q3FY20. 

🎯 UPL : 

Completes the acquisition of Yoloo Bio-Tech. The acquisition was announced on November 14. 

🎯 Indiabulls Real Estate : 

Senior management has decided to take pay cuts up to an average of 50 percent for FY21. 

🎯 HDFC Life Q4FY20 & FY20 :

Gross Premium up 3 % to Rs 10,615 crore. 

Net profit down 14 % to Rs 312 crore VNB Margins for FY20 at 25.9 percent from 25 % 13th month persistency for FY20 at 88 % from 84 %. 

AUM growth of 1 percent to Rs 1,27,226 crore. 

🎯 Adani Power Q4FY20 :

Revenue down 8.2 % to Rs 6,172.4 crore. 

Net loss of Rs 1,313 crore as compared to a net profit of Rs 634.6 crore. 

Other income of Rs 1,356 crore in base quarter Ebitda down 66.4 % to Rs 204.5 crore. 

🎯 Ambuja Cements :Q1CY20 Revenue down 3.4 percent to Rs 2,827.5 crore. 

Net profit down 6.5 percent to Rs 399.1 crore. 

Ebitda up 30.2 percent to Rs 603.2 crore. 

Ebitda Margin at 21.3 percent from 15.8 percent

27th April, 2020 Morning Brief

Market will open on a higher side today.

Markets in Asia have opened with modest gains at the start of the new trading week after a strong close on Wall Street last Friday.

Central Bank action will be crucial this week as the U.S. Federal Reserve and the European Central Bank will join the Bank of Japan to announce policy decisions to combat the Covid-19 pandemic.

🎯 News & Impact 🎯 

Results Today : Adani Power, HDFC Life Insurance, Ambuja Cements

Results Updates :

🎯 ICICI Prudential Q4 YoY and FY20

Gross premium rises 5 % to Rs 10,647 crore. 

Net profit down 31 % to Rs 179 crore

VNB Margins rise to 21.7 % in FY20 from 17 percent in FY19. 

Increase in protection mix aids VNB margins. 

Protection mix at 15.1 % of APE in FY20 from 9.3 % in FY19

13th month persistency at 83.2 % in FY20

Annualised premium equivalent down 5 percent to Rs 7,381 crore in FY20

AUMs in FY20 at Rs 1,52,968 lakh crore

Embedded Value grew 7 % in FY20 to Rs 23,030 crore

Maintains guidance to double FY19 VNB within four years

Value of New Business (VNB) rose 21 % in FY20 to Rs 1,605 crore. 

Guidance Positive for the stock. 👍 

🎯 Mindtree Q4FY20 :

Revenue in U.S. Dollar terms up 1.2 percent to $278.4 million. 

Revenue in rupee terms up 4.3 % to Rs 2,050.5 crore. 

Net profit up 4.7 % to Rs 206.2 crore

Ebitda up 5.6 % to Rs 323.6 crore. 

🎯 Granules India :

Company gets US FDA approval for Trospium Chloride capsules. 

Positive for the stock. 👍 

🎯 BEML :

Company bagged orders worth Rs 398 crore from Coal India.

🎯 Apollo Tyres : 

Warbug Pincus converted 5.4 crore convertible preference shares into 3.15 crore shares through an encumbrance on April 22. The total shares amount to 31.65 percent stake. Post this acquisition, Warbug Pincus now holds 40.6 % stake vs 8.92% earlier in the company.

🎯 Natco Pharma : 

Gets Establishment Inspection Report (EIR) from the U.S. FDA for its formulation facility in Kothur.

🎯 Goa Carbon : 

Production for March fell 71 percent in terms of quantity to 6,011.4 MT while it fell 81 percent in value to Rs 9.8 crore.

🎯 Apollo Pipes : 

Starts billing for three plants in Uttar Pradesh, Gujarat and Karnataka. Manufacturing operations shall begin in a phased manner.

🎯 JK Cement : 

Gets Government approval to commence operations at its manufacturing facilities in Rajasthan, Madhya Pradesh, Haryana and Gujarat.

🎯 India Cements : 

Resumed operations of few of its plants in a phased manner.

🎯 Reliance Power, Reliance Capital and Reliance Infrastructure : 

Axis Trustee Services, a security trustee of HDFC, invoked a pledge on 6.97 % shares of Reliance Power, 6.43 % shares of Reliance Capital and 8.21 % shares of Reliance Infrastructure.

🎯 Zee Media Corporation : 

IDBI Trusteeship, a security trustee of HDFC acquired 5.26 % shares of the company pursuant to invocation of pledge.

🎯 IIFL Finance : 

Exchanges permit listing and commencement of trading for 5.86 crore equity shares of Rs 2 each of IIFL Finance allotted to shareholder of IIFL pursuant to a composite scheme of arrangement.

🎯 Adani Ports :

Promoters Gautam S Adani and Rajesh Adani on behalf of SB Adani Family Trust released pledge on 37.50 lakh equity shares held in the company.

Positive for the stock. 👍 

🎯 JSW Steel : 

Promoter JSW Techno Projects Management revoked pledge of 5.73 lakh shares on April 21.

Positive for the stock. 👍 

🎯 JSW Energy : 

Promoter JSW Investments revoked pledge of 6.24 lakh shares on April 21.

Positive for the stock. 👍 

🎯 Emami : 

Promoters revoked pledge of 1.9 crore shares between April 21-22.

Positive for the stock. 👍 

🎯 Zuari Agro Chemicals : 

Promoter Zuari Global revoked pledge of 30 lakh shares on April 22.

Positive for the stock. 👍 

🎯 Adani Green Energy : 

Promoter Adani Trading Services revoked pledge of 2 lakh shares on April 23.

Positive for the stock. 👍

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

24th April 2020 Morning Brief

Market will open with a gap-down tracking Asian markets which are trading on lower side.

Asian equities have slipped on Friday morning after their counterparts on Wall Street gave up sessions gains to end little changed. Investors continue to weigh the signs of progress in the fight against Covid-19 and the resultant impact on economies.

Markets in Japan and South Korea are declining while those in Australia are fluctuating between gains and losses.

Futures on the S&P 500 are lower after the index gave up gains of as much as 1.6 % on Thursday to end little changed.

Gilead Sciences antiviral drug Remdesivir flopped in its first randomised clinical trial as per a Financial Times report that cited draft documents accidently published by the World Health Organisation.

Total job losses in the U.S. now stand at 26 million in the wake of the economic shutdown due to Covid-19.

🎯 News & Impact 🎯 

🎯 Bharti Infratel Q4FY20 :

Revenue down 1.3 % to Rs 3,624.4 crore. 

Net Profit down 18.7 % to Rs 649.5 crore. 

Ebitda down 9.5 % at Rs 1,699 crore. 

Ebitda Margins down to 46.9 % from 51.1 %

🎯 Ashok Leyland : 

Increased its stake by 3.36 percent to 68.81 percent in its arm Hinduja Leyland Finance.

🎯 Hathway Cable & Datacom Q4FY20 :

Revenue up 19.6 % to Rs 455.7 crore. 

Net profit up 7.3 times to Rs 48.8 crore. 

Ebitda up 43.8 % to Rs 120.4 crore. 

Ebitda Margins rise to 26.4 % from 22 %.

🎯 Alembic Pharma :

Company reported 81 percent rise in its consolidated net profit at Rs 224.93 crore for the fourth quarter ended March 31, 2020.

🎯 SBI Card :

Company reported outstanding borrowings worth Rs 17,362.86 crore at the end of March, 2020.

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

23rd April, 2020 Morning Brief

Market will open on a positive note today continuing yesterday's rally on positive global cues.

Asian markets have opened with modest gains on Thursday, tracking a positive close on Wall Street amid signs that the Covid-19 outbreak is easing.

Markets in Japan, South Korea and Australia are trading with modest gains in early trade. 

Futures on the S&P 500 have dipped lower after the benchmark rebounded from its biggest one-day fall in three weeks. 

U.S. President Donald Trump ordered to destroy any Iranian gun boats that harass American ships at sea.

🎯 Vodafone Idea : 

Vodafone Group says that it has accelerated payment of $200 million to the company, providing liquidity to manage its operations.

Positive for the stock. 👍

🎯 Aurobindo Pharma :

Company gets US FDA nod for Pantoprazole Sodium Injectable (40 Mg). 

Positive for the stock. 👍 

🎯 KNR Constructions : 

SPVs have re-commenced the collection of user fee (toll) on all the NHAl projects. 

🎯 NBCC :

NCLAT has asked NBCC to implement its proposal to acquire debt ridden Jaypee Infratech and complete over 20,000 pending flats, but said the direction is subject to its final order.

🎯 Lupin : 

Solosec oral granules have received preferred coverage effective immediately on the Express Scripts National Preferred, Flex, and Basic commercial formularies. 

🎯 SpiceJet :

Two lessors to SpiceJet Ltd are in talks to terminate contracts and repossess planes via mutually agreed deals with the airline over missed payments.

🎯 Star Cement : 

Plant at Assam has partially become operational. 

🎯 Kirloskar Electric : 

Manufacturing unit at Hubli has resumed operations. 

🎯 Orient Paper and Industries : Production of tissue papers and chlorine is continuing.

🎯 Deepak Nitrite : 

Partially commenced operations at its Hyderabad plant. All manufacturing facilities have commenced operations now.

🎯 Sun Pharma : 

Promoters released pledge of 2.52 crore shares between April 20-21. 

Positive for the stock. 👍

🎯 Adani Ports & SEZ : 

Promoter SB Adani Family Trust revoked pledge of 37.5 lakh shares on April 21. 

Positive for the stock. 👍 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

22nd April 2020 Morning Brief

Sentiment across Asian markets remains risk-off after Wall Street benchmarks plunged over 3 percent overnight. Companies continue to struggle to provide and outlook while energy markets remain highly volatile.

Crude oil prices have surged after falling by over 50 % in two sessions. West Texas Intermediate Crude for the June contract rose 20 percent to $13.93 per barrel.

Markets in Australia, South Korea and Japan have opened with losses, although they are shallower than those seen in the U.S.

🎯 News & Impact 🎯

🎯 ACC Q1CY20 :                    Revenue down 10.6 % to Rs 3,501.71 crore. Net profit down 5.5 percent to Rs 319.94 crore. Ebitda up 10.3 percent to Rs 585.85 crore. Ebitda Margin at 16.7 percent from 13.5 %. 

🎯 Den Networks Q4FY20 :    Revenue up 20.1 % to Rs 328 crore. Net profit of Rs 24.7 crore from Net loss of Rs 186.4 crore.                Ebitda up 73.2 percent to Rs 64.1 crore. Ebitda Margin at 19.5 % from 13.6 %. 

🎯 GTPL Hathway Q4FY20 :  Revenue up 2 times to Rs 655.7 crore. Net loss narrows to Rs 13.6 crore from Rs 27.7 crore. Ebitda up 47.2 percent to Rs 113.8 crore. Ebitda Margin at 17.4 % from 24 %. Positive for the stock. 👍 

🎯 Reliance Industries :        Facebook says it plans to invest $5.7 billion or Rs 43,574 crore in Jio Platforms Ltd. The investment will make Facebook its largest minority shareholder.                              Positive for the stock. 👍

🎯 Vodafone Idea :                         Paid Rs 1,367 crore to the government towards license fee, spectrum usage charges for the January-March quarter, as per a PTI report.

🎯 Nestle India :                                All the manufacturing locations have received permission to operate and are now operating at scaled-down levels.

🎯 Federal Bank :          Bank reported a 11 % growth in advances to Rs 1.24 lakh crore while deposits have grown 13 % to Rs 1.52 lakh crore on a year-on-year basis. The lender's Liquidity Coverage Ratio stood at 195.01 percent as of March 31.

🎯 Indian Oil Corporation :              LPG sale between April 1-20 was 696.6 thousand metric tonnes, a growth of 19.6 % over the same period last year.

🎯 Adani Power :                                To be excluded from the F&O segment from June 26.                   

🎯 SBI Life Insurance :                      To be included in the F&O segment from May 4.

🎯 Jyothy Labs:                      Launched hand sanitiser as a product.                                  

🎯 Kalpataru Power Transmission : Majority of the company’s international project sites have been operating at either full or partial capacities.

🎯 DCM Shriram :                          Sugar and fertilizer businesses are operating at full capacity.

🎯 Motherson Sumi Systems : Promoter Samwardhana Motherson revoked pledge of 50 lakh shares on April 17. Positive for the stock. 👍 

🎯 Emami :                            Promoters created pledge of 1 crore shares on April 15. Negative for the stock. 

🎯 Zee Learn :                          Promoter Jayneer Infrapower and Multiventures revoked pledge of 2.54 lakh shares on April 17. Positive for the stock. 

🎯 Embassy Office Parks REIT : Promoter Embassy Property Developments released pledge of 4 lakh units on April 21. Positive for the stock. 👍 

Edited by Sharp. 

21st April, 2020 Morning Brief

Market will open on a flat note today. 

A negative crude oil prices created a panic in US markets and Asian markets have followed their U.S. counterparts into the red, a day after oil prices fell to historic lows and into negative territory for the first time. 

Equities have opened with losses in Japan, Australia and South Korea. U.S. futures are tipping higher after benchmarks fell from their highest in six-weeks on Monday. The price on the futures contract for WTC, scheduled for expiry today fell into negative territory and fell as much as minus $37.63 per barrel. The lack of demand and the resultant storage space shortage led to this fall. The contract is currently trading at $2 per barrel.

U.S. Congress is close to finalising a fresh spending package to offset the effects of the Covid-19 pandemic.

🎯 News & Impact 🎯

Major Results Today :

ACC, ICICIPru 

🎯 Infosys :

Q4FY20 Results in-line with estimates. 

Revenue in U.S. dollar terms falls 1.4 percent to $3,197 million

Revenue in rupee terms up 0.8 % to Rs 23,267 crore. 

EBIT down 2.7 % to Rs 4,927 crore. 

EBIT Margins fall to 21.2 % from 21.9 %. 

Margins under pressure as company adapts to new working environment

Net profit down 3 % to Rs 4,335 crore. Company avoided to give guidance.

🎯 Tata Elxsi Q4FY20 :

Revenue up 8.3 % to Rs 438.9 crore. 

Ebitda up 6.5 % to Rs 97.8 crore. 

Ebitda Margins at 22.3 % from 22.7 %

Net profit up 15.1 % to Rs 82.1 crore. 

Positive for the stock. 👍 

🎯 Reliance Industries : 

Bloomberg News reports that the European Union has cleared the deal with British Petroleum.

Positive for the stock. 👍 

🎯 Morepen Laboratories : 

Gets license to manufacture Hydroxychloroquine from the State Drug Controller last week for its Baddi plant in Himachal Pradesh and is working to commercialize the production of HCQ in both API as well as tablets form. Company is also making infrared thermometers, hand sanitizers, hand wash and face masks.

🎯 TCS : 

Enters into a strategic partnership wit Amway to transform Amway’s global technology operations.

🎯 JK Lakshmi Cement : 

Integrated plants at Rajasthan and Chhattisgarh have become operational and have resumed cement dispatches.

🎯 KEC International : 

Factories in Brazil and Mexico, identified as an Essential Sector in the respective geographies have been operational throughout. Company has commenced operations at some of its T&D/Railways/Civil sites after receiving the requisite approvals.

🎯 Heidelberg Cement : 

Resumed partial operations in some of its manufacturing units and is in the process of doing so for other units.

🎯 Ashoka Buildcon : 

Has commenced toll collection on the toll projects of the company and its arms. It has started operations at most of the projects.

🎯 Jubilant Lifesciences : 

Rakesh Jhunjhunwala increased stake to 4.41 % from 3.45 %, as per the latest shareholding pattern.

🎯 JMC Projects : 

All four road SPV have resumed the collection of user fee at all fee plazas on National Highways.

🎯 Dish TV : 

Promoter Direct Media Distribution Ventures invoked pledge of 1.66 crore shares on April 13. 

Positive for the stock. 

🎯 Wockhardt :

Promoter Themisto Trustee revoked pledge of 6 lakh shares on April 17. 

Positive for the stock. 👍 

🎯 Ajanta Pharma : 

Promoter Aayush Agrawal revoked pledge of 3.29 lakh shares on April 17.

Positive for the stock. 👍

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒✒

Edited by Sharp. 

20th April 2020 Morning Brief

Market will open on a flat note today.

Asian markets have retreated at the start of the new trading week as investors look towards a busy week of corporate earnings.

Markets in Japan and Australia have opened lower, as have the futures in Hong Kong.

🎯 HDFC Bank :

Net profit up 17.7 % to Rs 6,927.7 crore. 

Net Interest Income up 16.2 % to Rs 15,204 crore. 

Gross NPA at 1.26 % from 1.42 % quarter-on-quarter Net NPA at 0.36 percent from 0.48 % quarter-on-quarter Provisions up 24.3 % from the previous quarter to Rs 3,784.5 crore. 

Net Interest Margins at 4.3 percent from 4.2 percent in the previous quarter. 

Positive for the stock. 👍 

🎯 Laurus Labs : 

U.S. FDA has approved ANDA for Macitentan. Drug is used to treat pulmonary arterial hypertension.

Positive for the stock. 👍 

🎯 Cadila Healthcare : 

Zydus gets final approval from the U.S. FDA from Baclofen Tablets. These tablets are used to treat muscle spasm caused by certain conditions such as multiple sclerosis, spinal cord injuries / diseases. This will be manufactured at the company's Baddi. 

Positive for the stock. 👍 

🎯 Shilpa Medicare : 

Gets Establishment Inspection Report (EIR) from the U.S. FDA for its API manufacturing site located at Raichur. The inspection was conducted from February 3-7, 2020. The inspection classification of this facility is No Action Indicated (NAI).

Positive for the stock. 👍 

🎯 Westlife Development : 

Same Store Sales growth in January and February was 12.3 % while that for the March quarter was a negative 6.9 %. 

🎯 Nalco : 

The Department of Steel and Mines of the Government of Odisha has issued a Grant Order for lease agreement of the Utkal-D coal block. The block is spread over an area of 301.28 hectares and was allocated to the company in May 2016.

Positive for the stock. 👍 

🎯 Future Group : 

Bloomberg News reports that the Supreme Court has refused to allow the sale of the pledged shares of group companies. 

🎯 Religare Enterprises : 

IRDAI has approved divestment of part of investment of the Company in Religare Health Insurance to Kedaara. 

🎯 GMR Infra : 

Promoter GMR Enterprises created pledge of 3.75 crore share on March 19. 

Negative for the stock. 

🎯 JSW Steel : 

Promoter JSW Techno Projects Management revoked pledged of 40.6 lakh shares on April 13. 

Positive for the stock. 👍 

🎯 JSW Energy : 

Promoter JSW Investments revoked pledge of 82.5 lakh shares on April 13. 

Positive for the stock. 👍 

🎯 Embassy Office Parks REIT : Promoter Embassy Property Developments created pledge of 1 crore units on April 16. 

Negative for the stock. 

🎯 Adani Transmission : 

Promoter Adani Tradeline revoked pledge of 1 lakh shares on April 15. 

Positive for the stock. 👍 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

17th April, 2020 Morning Brief

Market will open with a gap up today followed by positive opening in Asian markets.

Asian equities have opened higher on Friday, taking cues from a rise in U.S. benchmarks amid tentative steps to restart the U.S. economy.

U.S. markets ended higher on Thursday, albeit in a volatile trading session. The Nasdaq wiped out its losses for 2020. 

China is due to release GDP, industrial production, retail sales and jobless figures today. The total jobless claims in the U.S. have now risen to 22 million, with more than 5 million filing for unemployment benefits last week.

🎯 News & Impact 🎯 

Results Updates :

🎯 TCS :

Revenue down 2.5 % to $5,444 million. Indian Revenue flat at Rs 39,946 crore from Rs 39,854 crore EBIT up 0.5 % to Rs. 10,025 crore EBIT Margin at 25.1 % from 25 %. 

Net profit down 1 % to Rs 8,049 crore. 

🎯 Oberoi Realty : 

Repays NCDs worth Rs 125 crore, ahead of its scheduled date of repayment, which is April 23.

🎯 Aviation Stocks : 

Ministry of Civil Aviation has asked airlines to refund the full amount for both international and domestic travel without levy of cancellation charges.

🎯 JK Lakshmi Cement : 

Grinding units at Kalol and Surat have become operational. 

🎯 Mahindra & Mahindra : 

Renewable energy subsidiary has completed the sale of its arm Divine Solren to CLP India for Rs 124.47 crore. 

🎯 Grindwell Norton : 

Few of company’s plants have partially become operational, according to its press release. 

🎯 Sudarshan Chemicals : 

Gets permission to start operations at its manufacturing faciities at Mahad.

🎯 Suprajit Engineering : 

Company’s arm Wescon is operating plants in the U.S. and Mexico at 50 % capacity.

🎯 India Glycols : 

Resumed operations at its three plants in Uttar Pradesh and Uttarakhand. 

🎯 Graphite India : 

Begins partial manufacturing operations at its Graphite electrode plant in Nashik.

🎯 Satin Creditcare : 

Promoter Trishashna Holdings released pledge of 12.16 lakh shares on April 15. 

🎯 Adani Enterprises : 

Promoter SB Adani Family Trust revoked pledge of 90 lakh shares on April 15. 

🎯 Motherson Sumi : 

Promoter Samvardhana Motherson International revoked pledge of 3.05 crore shares on April 13. 

🎯 

16th April, 2020 Morning Brief

Market will open on a negative note today, tracking weakness in global markets after witnessing a seesaw session yesterday.

Asian markets opened weaker on Thursday morning following weak cues from Wall Street. Markets in Japan, South Korea and Australia have opened with losses, although the declines were shallower than those seen overnight on Wall Street.

Poor retail, manufacturing and home building data added to investor concerns about a severe recession in the U.S.

Futures on the S&P 500 too are declining after the benchmark index slipped over 2 % on Wednesday, erasing most of Tuesday's rally.

Value of overall retail sales in the U.S. fell 8.7 % in March, the biggest decline on record dating back to 1992. Factory output in March fell the most since 1946, just after the end of the second World War.

U.S. President Donald Trump said that data suggests the country has 'passed the peak' on new Covid-19 cases and that he will announce fresh guidelines on Thursday to relax the stay-at-home rules.

Financial stocks have led the losses globally as companies like Goldman Sachs, Bank of America and Citigroup have set aside billions for loan loss provisions due to the Covid-19 pandemic.

Is it signaling a recession? 

Results Today :

TCS

🎯 News & Impact 🎯 

Results Updates :

🎯 Wipro :

I.T. services revenue down 1.1 % to $2,073 million.

Revenue up 1.8 % to Rs 15,750 crore.

EBIT down 4.2 % to Rs 2,539 crore.

EBIT Margin at 16.1 % versus 17.1 percent.

Net profit down 4.5 % to Rs 2,345 crore.

🎯 BPCL :

Seeking to cut Saudi Arabia oil imports by 50 % in May, as the tankers are full. 

🎯 Tata Steel : 

Moody’s has reviewed the company for a downgrade and has downgraded Tata Steel U.K. Holdings’ corporate family rating to B3 from B2. 

🎯 Eveready Industries : 

Battery manufacturing facility in Karnataka partially resumes operations. 

🎯 Apollo Tyres : Operations at four plants in Kerala to remain shut till April 20. 

🎯 Prataap Snacks : Third party job working manufacturing units in Uttarakhand, Maharashtra and Haryana have resumed operations. 

🎯 Navin Fluorine : 

Operations at two plants in Gujarat and Maharashtra resumed from April 14.

🎯 Escorts: 

Factories and offices to remain shut till May 3.

🎯 Bajaj Consumer Care: 

Launches new hand sanitiser product. 

🎯 Endurance Technologies: 

Italian arm acquires 99 % stake in Adler for 3.5 million Euros. Adler provides system solutions for clutches, gears and friction plates for OEM customers in Europe.

🎯 Seshasayee Paper :

The collector of Namakkal District has given permission to the company to recommence its operations at Erode unit.

🎯 Motherson Sumi Systems : 

Promoter Samvardhana Motherson International released pledge of 2.5 crore shares on April 13. 

Positive for the stock. 👍 

🎯 JSW Steel : 

Promoters created pledge of 47 lakh shares on April 8. 

Negative for the stock. 

🎯 Adani Enterprises : 

Promoter SB Adani Family Trust revoked pledge of 1.79 crore shares on April 13. 

Positive for the stock. 👍 

🎯 Adani Transmission : 

Promoter SB Adani Family Trust revoked pledge of 90.41 lakh shares on April 13. 

Positive for the stock. 👍 

Edited by Sharp. 

15th April, 2020 Morning Brief

Market will open with a gap up following US markets which was closed on higher side yesterday on expectations from US President in coming days about the economy.

Asian equity markets have begun Wednesday’s trading session on a mixed note. Futures in the U.S. have edged lower after benchmarks surged to a one-month high on Tuesday.

Technology stocks pushed the Nasdaq composite through its 50, 100 and 200-day moving average on Tuesday. 

U.S. President Donald Trump has said that he will make some ‘important announcements’ over the next few days regarding state guidelines on reopening the U.S. economy.

🎯 News & Impact 🎯 

🎯 Hindalco : 

Completes acquisition of Aleris at an Enterprise Value of $2.8 billion. 

🎯 Zee Entertainment : 

The company in a conference call stated that the acquisition of Sugarbox will help its digital initiative Zee-5.

🎯 Diagnostic Companies : 

Metropolis, Thyrocare and Dr Lal Pathlabs - Bloomberg reports that the Supreme Court has allowed private labs to charge a fee to conduct Covid-19 tests.

Positive for the stocks. 👍 

🎯 JSW Steel : 

Moody's reviews the rating for a downgrade.

Negative for the stock. 

🎯 Hero MotoCorp : 

Operations to remain suspended till May 3. 

🎯 Maruti Suzuki : 

Suzuki Motor Gujarat extends production suspension till further notice. 

🎯 Dr Reddy's Laboratories : 

Launches Amphetamine Sulfate Tablets USP and a generic version of NitroDur in the U.S. Market.

Positive for the stock. 👍 

🎯 Biocon : 

The company along with Mylan has launched Fulphila, a biosimilar to Neulasta in Australia. The drug is approved by the Therapeutic Goods Administration for the treatment of cancer patients post Chemotherapy.

Positive for the stock. 👍 

🎯 UPL : 

The company in a press release has stated that all factories around the world remain in operation following enhanced internal safety guidelines. 

🎯 IRCTC : 

The Ministry of Railways says that the cancellation of passenger train services has been extended to May 3.

🎯 Mishra Dhatu Nigam (MIDHANI) : 

The company shared its FY20 update where variation order proposal rose 21 percent to Rs 985 crore while sales turnover remained flat at Rs 711.37 crore.

Positive for the stock.

🎯 Aviation Stocks : 

Interglobe Aviation and SpiceJet will be in focus after the government banned all domestic and international flights until May 3. 

🎯 Trident : 

The company said that it will start manufacturing medical textiles like face masks, hazmat suits and medical stationery.

🎯 Galaxy Surfactants : 

The company stated that a blast took place in a small intermediate feed tank at its M-3 plant in Tarapur on April 13 leading to two fatalities and three injuries.

🎯 Dalmia Bharat : 

Starts manufacturing hand sanitisers at its distillery units in Uttar Pradesh and Maharashtra. 

🎯 Asahi Songwon : 

Resumes operations at manufacturing plants from April 13. 

🎯 Vardhman Textiles : Starts partial operations at its spinning units in Punjab, Himachal Pradesh and Madhya Pradesh. 

🎯 DFM Foods : 

Resumes partial operations at Uttar Pradesh plants. 

🎯 Welspun Corp : 

Has partially started operations at its Anjar plant. It has also resumed coating operations at its Saudi Arabia unit.

🎯 JSW Energy : 

Promoters revoked pledge of 30 lakh shares on April 9. 

Positive for the stock. 👍

🎯 Zee Learn : 

Promoters invoked pledge of 1.6 crore shares between April 8-9. 

Positive for the stock. 👍 

🎯 Ashok Leyland: Promoter Hinduja Automotive created pledge of 2.42 crore share on April 7. 

Negative for the stock. 

🎯 Sun Pharma : 

Promoter Raksha Valia released pledge of 36.5 lakh shares between April 7-9. 

Positive for the stock. 👍 

13th April 2020, Morning Brief

Market will open on a flat note today.

Asian equity markets began the new trading week on a negative note as investors brace for the onset of the corporate earnings season and the uncertainty surrounding the Covid-19 impact on the same.

Markets in Japan and South Korea are retreating in early trade as are futures in the United States. Markets in Hong Kong are shut on account of the Easter Holiday.

🎯 News & Impact 🎯 

🎯 HDFC : 

People's Bank of China hikes stake in the company to more than 1 % as per the company's March quarter shareholding pattern.  

Positive for the stock. 👍 

🎯 Dr. Reddy’s Lab : 

Gets Establishment Inspection Report (EIR) from the U.S. FDA for its API manufacturing facility in Telangana indicating closure of the audit.

🎯 Cadila Healthcare : 

Zydus gets tentative U.S. FDA approval for Empagliflozin tablets. The medicine is used to improve blood sugar and reduce cardiovascular risk. 

Positive for the stock. 👍 

🎯 SMS Lifesciences : 

The U.S. FDA ban on Ranitidine drugs from the U.S. market and the lockdown due to Covid-19 can impact the revenue of the company. 

Negative for the stock. 

🎯 SMS Pharma : 

Not sold any Ranitidine API for commercial distribution in the U.S. Whatever quantities sold are for drug product development.

🎯 Transgene Biotek :

Company received Certificate of Patent from Australia for novel oral delivery platform technology that delivers different biologically active ingredients.

Positive for the stock. 👍 

🎯 Tech Mahindra : 

After modification, company will acquire 51% of Cerium Systems upfront for enterprise value upto Rs.245 crore and balance 49% will be acquired over the next 3 years.

🎯 ICICI Lombard :

Company, Flipkart and Go Digit General Insurance come together to offer COVID-19 focused health insurance policies.

Positive for the stock. 👍 

🎯 Zee Entertainment Enterprises : 

Board to invest a sum of Rs 522 crore in SugarBox over a period of time and will provide operational support including providing performance and corporate guarantees as appropriate and necessary.

🎯 Kotak Mahindra Bank : 

Top leadership team takes 15 percent salary cut for fiscal year 2021. Uday Kotak has opted to forgo his salary and will receive Re. 1. 

🎯 ITI : 

Defence Research and Development Organisation and the company are likely to ink a deal soon to produce portable ventilators.

🎯 KSB :

Company launched CHTRa, a heavy duty API pump handling petroleum, petro chemical and water transfer.

🎯 Godawari Power & Ispat :

Company resumed partial operations by commencing mining operations in Ari Dongri iron ore mines.

🎯 SRF : 

Few plants belonging to the essential goods value chain in the Dahej Chemicals Complex have resumed operations, in-line with permissions from local authorities. 

🎯 India Grid Trust : 

Board approved the acquisition of Gurgaon Palwal Transmission from Sterlite Power for up to Rs 1,080 crore.

🎯 Camlin Fine Sciences : 

Resumes trial production at its manufacturing unit in Dahej.

🎯 Gujarat Fluorochemicals : 

Plants at Ranjitnagar and Dahej resumed operations on April 8 after necessary permissions from Government authorities.

🎯 Axis Bank :

MF in March quarter raised stake to 20.51% (from 18.89% QoQ), insurance companies to 2.21% (from 1.93%), but FPIs reduced to 45.49% (from 48.35%).

🎯 SBI Cards :

MFs raised stake in March quarter to 3.04% (from 1.60% before listing), FPIs to 4.07% (from 3.53%). 

🎯 Embassy Office Parks REIT : 

Sponsor Embassy Property Developments released pledge of 1 crore units on April 7 in favour of Kotak Mahindra Investments. 

Positive for the stock. 👍 

🎯 Jindal Steel & Power : 

Promoters revoked pledge of 8.6 crore shares between April 1-8.

Positive for the stock. 👍 

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Edited by Sharp. 

9th April, 2020 Morning Brief

Market will open on higher side today after a volatile session witnessed yesterday.

Asian markets have opened mixed this Thursday morning after a three day rally. Investors are mulling the spread of Covid-19 and the ramping up of economies once things return to normal. Japanese markets are trading with losses while those in Australia and South Korea trade higher.

Oil prices have risen after Algeria confirmed that an emergency meeting of the OPEC+ will be held today to discuss an output cut of 10 million barrels per day.

🎯 News & Impact 🎯

🎯 Hindalco Industries : 

Novelis has received approval from the European Commission for sale of the Duffel facility of Aleris to Liberty House Group for €310 million ($337 million). The facility has a capacity of 200kt of which 100kt was automotive line with the balance being in building construction, distribution, commercial transportation and others.

🎯 Ajanta Pharma :                          Company gets US FDA nod for Cholestyramine powder. 

🎯 Kolte-Patil :                                           The company sold a portion of its land in Pune to Planet Smart City - a U.K.-based real estate developer for Rs 91 crore.

🎯 Future Group :                                      Said to tap UBS to sell stake in insurance joint venture.

🎯 Astron Paper & Board Mill :                Has received permission from the Government of Gujarat regarding the commencement of production for its unit located at Bhuj.

🎯 NLC India :                                        Mining operations of Neyveli mines have begun from April 8.

🎯 Adani Transmission :                Promoter SB Adani Family Trust revoked pledge of 97.6 lakh shares on April 7. Positive for the stock. 👍 

.🎯 Manali Petrochemicals :                  Company recommenced production of Propylene Oxide, feedstock for Propylene Glycol which is a pharmaceutical input, on April 7 at Plant 1.

🎯 GRM Overseas :                          Company restarted its plant operation on April 8.

🎯 Music Broadcast :                      Qualified institutional buyer bought 4.42% stake during Q4FY20.

🎯 Jindal Steel & Power :                Promoter OPJ Trading released pledge of 3.19 crore shares on April 8.            Negative for the stock.

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp. 

8th April, 2020 Morning Brief

Market will open on a negative note today after about 10% single day pullback rally.

Markets in Japan, Hong Kong and Australia are declining while the U.S. futures edged higher on Wednesday morning.

The two-day rally in Asian markets came to a halt on Wednesday morning after U.S. equities gave up strong gains to end lower on Tuesday as investors are weighing signs of a slowing rate of the Covid-19 spread against more fatalities.

Benchmark indices in the U.S. gave up gains of as much as 3.5 percent to end lower. The S&P 500 briefly reached a 20 percent gain from its March low on Tuesday as New York recorded the highest death toll in a single day, yet the number of new cases slowed.

🎯 News & Impact 🎯 

🎯 SBI : 

Bank reduces MCLR by 35 basis points across all tenors with effect from April 10. One-year MCLR to be 7.40 %. Bank has also reduced interest in savings bank deposits by 25 basis points with effect from April 15.

🎯 Aurobindo Pharma :

PTI reports that a class action suit has been filed against some drug manufacturers, including Aurobindo and Emcure in a U.S. court for allegedly concealing facts about a cancer-causing agent N-nitrosodimethylamine's presence in Metformin medicine.

🎯 Deepak Nitrite :

Got approval from Vadodara District Industries Commissionerate to commence production of 2 Ethyl Hexyl Nitrate which is one of the essential raw material used in the refining process of diesel oil produced by various refineries.

Positive for the stock. 👍 

🎯 Maruti Suzuki :

Production in March 2020 drops to 92,540 units against 1,36,201 units in March 2019.

Negative for the stock. 👎

🎯 Adani Green Energy :

Company receives Rs 3,707 crore for formation of the JV with TOTAL SA.

Positive for the stock. 👍 

🎯 JSW Energy : 

CCI approved the acquisition of 100 % shareholding of GMR Kamalanga Energy.

🎯 Advanced Enzyme Technologies :

Continues to carry on production in its manufacturing units in India with the permission of the local authorities and the operations at its plants have been scaled down with reduced capacity utilization. 

🎯 Galaxy Surfactants :

Company partially resumed operations at its plants with effect from April 6, 2020

🎯 ABB India : 

CCI approved the acquisition of 80.1 % stake by Hitachi in its power grid business.

Positive for the stock. 👍 

🎯 Galaxy Surfactants : 

Has partially resumed operations of its plant from April 6.

🎯 VA Tech Wabag : 

Gets 5-year operation and maintenance contract in AMAS sewage treatment plant in the Kingdom of Bahrain for Rs 90 crore.

Positive for the stock. 👍 

🎯 Sanghvi Forging and Engineering : 

The company defaulted on loans worth Rs 171.64 crore.

Negative for the stock. 👎

🎯 Orient Paper & Industries : 

The company has restarted some plants partially. 

🎯 Embassy Office Parks REIT : 

Sponsor Embassy Property Developments created a pledge of 8.13 crore units (10.54 %) in favour of Catalyst Trusteeship for a period of 10 years.

🎯 Sun Pharma : 

Promoter Shanghvi Finance revoked pledge of 59.4 lakh shares on April 3. 

Positive for the stock. 👍 

🎯 Adani Transmission : 

Promoter SB Adani Family Trust revoked pledge of 1.61 crore shares on April 4.

Positive for the stock. 👍 

🎯 Adani Enterprises : 

Promoter SB Adani Family Trust revoked pledge of 16 lakh shares between April 3-4.

Positive for the stock. 👍

 ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp. 

7th April, 2020 Morning Brief

Market will open with a gap up on positive wave in global markets.

Asian markets have opened with gains on Tuesday morning on optimism that the Coronavirus epidemic may be waning in some key epicenters. 

Markets in Japan and Australia have advanced over two percent while those in South Korea are up one percent.

The S&P 500 index gained 7 % on Monday, at the highest level in almost a month while futures are seeing modest gains in early Asian trading.

Italy, France, Germany and Spain reported lesser Covid-19 cases on Monday while New York Governor Andrew Coumo said that deaths were showing indications of hitting a plateau.

🎯 News & Impact 🎯 

🎯 Bajaj Finance : 

The company in a media call stated that it has lost AUMs worth Rs 4,750 crore and 3.5 lakh customers in the last 10 days due to the Covid-19 lockdown.

Negative for the stock.

🎯 HDFC Bank : 

Continues to see strong business momentum in the fourth quarter with its advances and deposits growing 21 and 24 percent year-on-year respectively. CASA ratio rose to 42 % from 39.5 % in the previous quarter. The lender purchased loans worth Rs 5,479 crore under the home loan agreement with HDFC as compared to Rs 4,258 crore in the December quarter.

🎯 Kotak Mahindra Bank : 

The lender in its fourth quarter updated has reported a 6.7 % growth in advances. While current deposits rose 10.5 %, savings deposits were up 31.3 % compared to the year-ago period. CASA ratio rose to 56.2 % from 52.5 %.

🎯 IndusInd Bank : 

The lender in its fourth quarter operational update has reported a 12.6 percent growth in advances and a 3.8 % growth in deposits compared to last year. Retail deposits were up 34.2 % while CASA ratio grew to 43.1 % compared to 40.5 percent during the same period last year.

🎯 Godrej Properties :

In its quarterly update, the company said that bookings in the fourth quarter were up 10 % year-on-year to Rs 2,380 crore.

🎯 Sobha :

The company in its March quarter update has reported a 20 % decline in new sales volume compared to last year to 9.06 lakh square feet.

🎯 Lupin : 

Launches Mycophenolic Acid Delayed-Release Tablets USP in the U.S. The company's alliance partner Concord Biotech had received an approval from the U.S. FDA. Mycophenolic Acid Delayed-Release Tablets USP had annual sales of approximately $156 million in the U.S.

🎯 Cadila Healthcare : 

Zydus gets USFDA approval for Lamotrigine. 

🎯 Shilpa Medicare :

The subsidiary of Shilpa Medicare on April 6 has received approval from the UK health regulator for anti-cancer drug Imatinib.

🎯 Narayana Hrudayalaya :

The company has temporarily suspended the operations of hospital by Health City Cayman Islands Limited, a step-down subsidiary of Narayana Hrudayalaya. 

🎯 Shipping Corporation of India : 

Has entered into a contract for transferring a vessel.

🎯 Manali Petrochemical :

Production of Propylene Glycol has restarted at both plants.

🎯 Dhampur Sugar Mills :

Company started production of hand sanitisers at Asmoli unit, Sambhal.

🎯 A2Z Infra Engineering :

The company defaulted on payments of Rs 109.38 crore out of the total outstanding amount of Rs 148.38 crore as on March 31, 2020.

🎯 Century Textiles & Industries : 

Local authorities have permitted the company’s pulp and paper division to operate its factories in Uttarakhand in a limited manner to cater to the requirement of essential services industries.

🎯 Nestle India : 

Pledges an initial Rs 15 crore towards feeding programs for less privileged sections of the society.

🎯 Persistent Systems : 

To contribute Rs 25 crore to support various aspects of global responses to Covid-19.

🎯 Graphite India : 

Promoter Emerald Company acquired 1.07 lakh shares on March 27. 

Positive for the stock. 👍 

🎯 GMR Infra : 

Promoter GMR Enterprises acquired 53 lakh shares on March 31.

Positive for the stock. 👍 

🎯 Embassy Parks REIT : 

Promoter Veeranna Reddy sold 1.56 crore units (2.02 %) at Rs 321.5 per unit.

Negative for the stock.

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp. 

3rd April, 2020 Morning Brief

Market will open with a gap up today in line with global markets.

Markets across Asia have opened higher on Friday while U.S. futures are trading lower post Thursday's surge. Oil prices are paring thursday's 22 percent gains after U.S. President Donald Trump said that both Russia and Saudi Arabia will cut production.

Markets in Japan, South Korea and Australia are trading with gains. 

U.S. Markets ended higher on Thursday led by Energy shares due to the rise in oil prices even after Jobless claims in the U.S. doubled from last week to a record 6.6 million. More people in the U.S. have now lost their jobs than the whole 2008-09 recession.

🎯 News & Impact 🎯

March Auto Sales 

🎯 Tata Motors : 

Domestic sales fell 84 percent to 11,012 units. Commercial Vehicle sales fell 87 percent to 7,123 units. Passenger Vehicle sales fell 68 percent to 5,676 units. The company will henceforth stop reporting monthly wholesale numbers from next month (i.e. April 2020) and instead report quarterly wholesale and retail numbers. 

🎯 Eicher Motors: Total Royal Enfield sales fell 4

🎯 Atul Auto : 

Sales down 76 percent to 1,091 units. 

🎯 Hero MotoCorp: Total sales fell 42 percent year-on-year to 3,34,647 units. 

🎯 TVS Motor: Total sales fell 55.5 percent year-on-year to 1,44,739 units.

🎯 RBL Bank Q4 Update : 

Net Interest Margin at all-time high. Net Interest Income grew higher than advances and balance sheet growth.

🎯 HUL-GSK Health Merger : 

GSK Plc to hold 5.7 % in HUL while Unilever's stake to fall to 61.9 % from 67.2 %

🎯 Aurobindo Pharma : 

The deal to acquire Sandoz’s U.S. generic oral solids and dermatology business has been mutually terminated. The decision was taken as approval from the U.S. Federal Trade Commission for the transaction was not obtained within the anticipated timeline.

Negative for the stock. 

🎯 ICICI Bank : 

Reduces interest rate on savings bank accounts and term deposits less than Rs 2 crore.

🎯 CSB Bank : 

Reduces repo linked lending rate from 5.15 % to 4.4 %

🎯 CreditAccess Grameen : 

Increased its stake in Madura Micro Finance by 0.42 % to 76.06 %. 

🎯 Shilpa Medicare : 

Finished dosage formulation facility in Telangana got EU GMP certification by the Austrian authority.

🎯 Adani Green Energy : 

Competition Commision of India approves formation of JV with Total S.A. in the solar power generation business in India. 

🎯 Tata Power : 

Has completed a sale of its entire 50 % stake in its South African joint venture for Rs 659.7 crore or ZAR 1,550 million.

🎯 KIOCL : 

The company’s production of pellets increased by 6 percent to 2.375 million tons and dispatches increased by 7 percent to 2.356 million tons, for FY20.

🎯 Indiabulls Ventures : 

To acquire 58 % stake in Transerv for Rs 76.06 crore. The target company is in the business of issuing pre-paid instruments. The remaining 42 percent stake in the afore-mentioned company is held by Indiabulls Consumer Finance. 

🎯 Cipla : 

Announced the successful completion of Phase-3 clinical study for a generic version of GSK's Advair Diskus®.

🎯 Cadila Healthcare : 

Received the final approval from the U.S. FDA to market Lamotrigine Extended-Release Tablets. This medication is indicated for the treatment of certain types of seizures and will be manufactured at the group’s manufacturing facility at SEZ, Ahmedabad. 

🎯 Jubilant FoodWorks : 

Partners with ITC Foods to deliver everyday grocery essentials offered by ITC Foods.

🎯 Gateway Distriparks : 

The proposed sale of the company’s entire holding in Snowman Logistics to Adani logistics was not completed by March 31.

🎯 Cyient : 

Has been providing the Telangana State Police with drone-based surveillance technology to implement the Covid-19 lockdown. 

🎯 Pharma Companies : 

U.S. FDA has issued letters to all manufacturers of Ranitidine across dosage forms requesting withdrawal of all prescription and over-the-counter ranitidine drugs from the U.S. market.

🎯 OMCs : Given the current crisis, the companies will not pass on the cost incurred to produce BS-VI fuel.

Negative for the stocks. 

🎯 JSW Steel : 

Promoters pledge additional 2.3 % stake 

Negative for the stock.

🎯 Sobha : 

Promoter Ravi Menon acquired 1.13 lakh shares between March 30-31. 

Positive for the stock. 👍 

🎯 GMR Infra : 

Promoter GMR Enterprises acquired 1 crore shares between March 26-30. 

Positive for the stock. 👍 

🎯 HFCL : 

Promoter Anant Nahata acquired 21.75 lakh shares on March 31. 

Positive for the stock. 👍 

🎯 NOCIL : 

Promoter Suremi Trading acquired 5 lakh shares between March 30-31. 

Positive for the stock. 👍

🎯 Mahindra CIE Automotives : 

Promoter P.I.A. Dos acquired 1.25 lakh shares between March 30-31. 

Positive for the stock. 👍 

🎯 JMC Projects : 

Promoter Kalpataru Power Transmission acquired 6.05 lakh shares on March 31. 

Positive for the stock. 👍 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.