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. 👍 

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Edited by Sharp.