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. 

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