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. 👎