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 :
🎯 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.
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