1st June, 2020 Morning Brief

Market will continue prevailing rally with a gap up opening today. 

Asian markets are mixed at the start of the new trading week as well as month. Investors continue to assess violent protests in some U.S. cities, stoking concerns about a fresh wave of infections.

US stocks finished mostly higher on Friday after President Donald Trump announced measures against China in response to new security legislation that were less threatening to the US economy than investors had feared. Dow ended the session 17.53 points, or 0.07%, lower but the S&P500 gained 14.58 points, or 0.48%, and the Nasdaq 120.88 points, or 1.29%. 

🎯 News & Impact 🎯 

🎯 IDBI Bank :

Bank posted a profit of Rs 135 crore for the March quarter on account of recoveries from bad loans. The lender reported a profit after 13 straight quarters of net losses. The bank, majority owned by Life Insurance Corporation of India (LIC), had posted a net loss of Rs 4,918 crore in the corresponding period of last year. Total income rose to Rs 6,925 crore as against Rs 6,616 in the fourth quarter of 2018-19. 

Positive for the stock. 👍 

🎯 Voltas Q4FY20 :

Revenue up 1.3% to Rs 2,089.6 crore Net profit up 13.7% to Rs 158.7 crore Ebitda up 33.1% to Rs 192 crore Ebitda margin expands to 9.2% from 7%

Positive for the stock. 👍 

🎯 Sundaram Finance Q4FY20 :

Net Interest Income up 22.6% to Rs 632 crore Net profit down 80.6% to Rs 131 crore Exceptional gain of Rs 522 crore on account of sale of shares in Royal Sundaram in the base quarter. 

🎯 Jubilant Life Sciences Q4 :

Profit at Rs 260.49 cr versus loss at Rs 99.3 cr, revenue at Rs 2,307.32 cr versus Rs 2,352.15 cr YoY.

Positive for the stock. 👍 

🎯 Polycab Q4FY20 :

Revenue down 13.6% to Rs 2,129 crore Net profit up 52.4% to Rs 214 crore Ebitda up 23.4% to Rs 300.6 crore Ebitda margin widens to 14.1% from 9.9%. 

Positive for the stock. 👍 

🎯 Dilip Buildcon Q4 :

Profit at Rs 166.80 cr versus Rs 87.68 cr, revenue at Rs 2,729.66 cr versus Rs 2,571.64 cr YoY. 

Positive for the stock. 👍 

🎯 Amara Raja Batteries Q4FY20 : Revenue up 1% to Rs 1,581.4 crore Net profit up 15.3% to Rs 137.3 crore Ebitda up 1% to Rs 243.8 crore Ebitda margin flat at 15.4%. 

Positive for the stock. 👍 

🎯 RCF Q4 :

Profit at Rs 142.38 cr versus Rs 47.16 cr, revenue at Rs 2,606 cr versus Rs 2,266.98 cr YoY.

Positive for the stock. 👍 

🎯 Shipping Corporation Q4 :Company reported 83 percent jump in its consolidated profit to Rs 111 crore for the fourth quarter ended March 31. It had clocked a consolidated profit of Rs 60.68 crore for the corresponding quarter in 2018-19. 

Positive for the stock. 👍 

🎯 Adani Power : 

To consider proposal for delisting of shares on June 3. Promoter group holds 74.97% stake in the company. Board will consider appointing a merchant banker as well. 

🎯 Kotak Mahindra Bank : 

Invesco Oppenheimer Developing Markets Fund, Canada Pension Plant Investment Board and ICICI Prudential Mutual Fund allotted 8.02%, 7.12% and 6.3% shares respectively post its QIP.

🎯 HCL Technologies :

Company showed its intention to acquire Cisco's self-optimizing network (SON) technology.  

🎯 Dr Reddy's Laboratories : 

Gets Establishment Inspection Report (EIR) from the U.S. FDA for its API Srikakulam Plant (SEZ) in Andhra Pradesh, indicating that the inspection is closed. 

🎯 TCS : 

Gets SEBI warning letter in relation to a disclosure on a U.S. lawsuit.

🎯 Sanofi India : 

Completes the transaction relating to the slump Sale and transfer of the manufacturing facility of the company at Ankleshwar, Gujarat to Zenitava for a total consideration Rs 320.7 crore.

🎯 WABCO India : 

ZF Friedrichshafen AG completes acquisition of CV technology supplier WABCO.

🎯 Yes Bank : 

Acquires shares worth 24.19% of paid up capital pursuant to invocation of pledge. 

Positive for the stock. 👍 

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Edited by Sharp. 

29th May, 2020 Morning Brief

Market will open on a flat note today after yesterday's rally. All eyes are on GDP data to be announced. 

Asian shares were set to dip in choppy trade on Friday as worries about worsening US-China ties offset the fillip from hopes massive government stimulus can jump-start the world economy.

Wall Street ended lower on Thursday following a late-session reversal, with Facebook weighing on the market after President Donald Trump said he would sign an executive order related to social media companies and would hold a news conference on China on Friday.

The Dow Jones Industrial Average fell 147.63 points, or 0.58%, to 25,400.64, the S&P 500 lost 6.4 points, or 0.21%, to 3,029.73 and the Nasdaq Composite dropped 43.37 points, or 0.46%, to 9,368.99.

🎯 News & Impact 🎯 

🎯 LT Foods Q4 : Profit at Rs 54 cr versus Rs 19.7 cr, revenue at Rs 1,198 cr versus Rs 1,009 cr YoY.  Positive for the stock. 👍 

🎯 Vodafone Idea : Google is said to be exploring taking a minority stake in British telecom group Vodafone’s struggling India business, reports said. Positive for the stock. 👍 

🎯 Lupin : Company gets US FDA nod for Azithromycin Tablets used to treat number of bacterial infections. Positive for the stock. 👍 

🎯 Yes Bank : The bank will not be available for trading in Futures & Options segment from May 29.

🎯 Cadila Healthcare : Formulations manufacturing unit at Baddi received an Establishment Inspection Report (EIR) from USFDA.

🎯 HCL Technologies : Company and Broadcom expanded their global preferred services partnership to include Symantec Enterprise Security Consulting.

🎯 Pidilite Industries : Company completed acquisition of 70% equity shares of Tenax India Stone Products.

🎯 NHPC : Board approved the proposal of diversification of business by development of solar power projects as intermediary procurer through solar power developers.

🎯 D-Link India : Company received adjudication orders from ADG, DRI, partially setting aside the demand of duty pertaining to imports of goods and confirming determining the duty liability to Rs 5,453,755 excluding the interest. Positive for the stock. 👍

🎯 Bank of India, Karnataka Bank : The Reserve Bank of India (RBI) on May 28 imposed monetary penalties on three banks for various rule violations.

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Edited by Sharp. 

28th May 2020 Morning Brief

Market will open on a positive note today after yesterday's rally led by banking stocks on the hope of new stimulus.

Asian shares rose on growing optimism about economic recovery globally. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5 per cent. Australian shares rose 1.86 per cent, while Japan's Nikkei stock index rose 1.28 per cent to the highest since early March. 

US stocks ended higher on Wednesday as investors weighed the possibility of normalizing economic activities. The Dow Jones Industrial Average surged 553.16 points, or 2.21 per cent, to 25,548.27. The S&P 500 rose 44.36 points, or 1.48 per cent, to 3,036.13. The Nasdaq Composite Index was up 72.14 points, or 0.77 per cent, to 9,412.36. 

🎯 News & Impact 🎯 

🎯 United Spirits Q4 : 

Profit at Rs 58.4 cr versus Rs 123 cr, Revenue at Rs 6,419 cr versus Rs 7,283 cr YoY.

Ebitda down 4.3% to Rs 271.4 crore

Ebitda margin at 13.6% from 12.6%

🎯 Ujjivan Financial Services Q4FY20 :

Net Interest Income up 40.7% to Rs 496.2 crore. 

Net profit up 48.5% to Rs 64 crore. 

Provision for Covid-19 at Rs 70 crore. 

Positive for the stock. 👍 

🎯 India Grid Trust Q4FY20 :

Revenue up 93% to Rs 328.4 crore

Net profit doubles to Rs 299.3 crore

Distribution of Rs 3 per unit. 

🎯 Adani Power :

Company said Madhya Pradesh Electricity Regulatory Commission has approved setting up of a 1,320 MW thermal power plant in Madhya Pradesh. The commission has also approved sale of entire electricity from the plant to the state through Adani Power arm Pench Thermal Energy.

Positive for the stock. 👍

🎯 NTPC :

Company has decided to foray in electricity distribution business by evincing interest to buy 51 % stake in Anil Dhirubhai Ambani Group's (ADAG) two utilities in Delhi.

🎯 Apollo Tyres : 

Promoter PTL Enterprises acquired 15,000 shares on May 22. 

Positive for the stock. 👍 

🎯 Aarti Drugs : 

Promoter sold 17,000 shares from May 21-22.

Negative for the stock.

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Edited by Sharp. 

27th May, 2020 Morning Brief

Market will open on a flat note today after yesterday's flat session.

Asian markets are mixed at the start of trade this morning. Reports that the Trump administration is considering sanctions on Chinese officials is keeping investor sentiment on the edge.

The S&P 500 ended at an 11-week high, despite giving up almost half of its gains in the final hour of trade.Latest economic data has shown that the easing of the lockdown restrictions is boosting economic activity in the U.S.

The Dow Jones Industrial Average rose 529.95 points, or 2.17%, to 24,995.11, the S&P 500 gained 36.32 points, or 1.23%, to 2,991.77, and the Nasdaq Composite added 15.63 points, or 0.17%, to 9,340.22.

🎯 News & Impact 🎯 

Major Results Today :

Mcdowell, Dabur, Sunpharma

Results Updates :

🎯 Deepak Nitrite Q4FY20 :

Revenue up 4.7% to Rs 1,055.5 crore. 

Net profit up 88.3% to Rs 172.3 crore. 

Deferred tax reversal of Rs 22.5 crore this quarter aided profitability. 

Ebitda up 35.1% to Rs 262 crore. 

Ebitda margin improves to 24.8% from 19.2%. 

Positive for the stock. 👍 

🎯 Coromandel International Q4FY20 :

Revenue up 8.7% to Rs 2,869.3 crore

Net profit up 2.1 times to Rs 234.2 crore

Ebitda up 50.8% to Rs 390.7 crore

Ebitda margin at 13.6% from 9.8%. 

Positive for the stock. 👍 

🎯 Torrent Pharma Q4FY20

Revenue up 4.8% to Rs 1,946 crore

Net profit at Rs 314 crore from net loss of Rs 152 crore. 

Ebitda up 15.9% to Rs 548 crore

Ebitda margin expands to 28.2% from 25.5%. 

Exceptional loss of Rs 357 crore in the base quarter. 

Positive for the stock. 👍 

🎯 Reliance Industries : 

News reports that the company is preparing Jio Platforms for an IPO outside the country. 

Positive for the stock. 👍 

🎯 Bharti Airtel : 

Bharti Telecom said in a press release that it raised over Rs 8,433 crore through accelerated book-build offering of equity shares of the telecom player. Sale proceeds will be fully utilized to repay debt at and make the promoter holding company a ‘debt free.’

Positive for the stock. 👍 

🎯 PFC :

Company said it entered into an agreement with Narmada Basin Projects Company, a wholly-owned company of government of Madhya Pradesh, to fund projects worth Rs 22,000 crore.

Positive for the stock. 👍 

🎯 Coal India : 

News reports that its consultancy arm CMPDIL has been roped in by NTPC to make separate mining plans for Banai and Bhalumuda coal mines in Chhattisgarh with an aim to maximise the extractable reserves by merging operations of the two mines.

🎯 Asahi Infrastructure :

Sebi has slapped a fine of over Rs 11 crore on the company and its senior official in a matter related to manipulation in issuance of global depository receipts (GDR).

Negative for the stock. 

🎯 Praj Industries :

Board decided to cancel proposal of buy-back of shares.

Negative for the stock. 

🎯 Century Plyboards :

Extensive damage done to the factory shed and building at Joka factory near Kolkata due to cyclone AMPHAN.

🎯 Bharti Airtel : 

Promoter Bharti Telecom sold 15 crore shares (2.75 %) at Rs 562.2 per share and Societe Generale acquired 3.53 crore shares (0.65 %) at Rs 561.1 per share.

Negative for the stock.

🎯 Solara Active Pharma Sciences : Promoter Prafulben Dudhagara invoked pledge of 32,216 shares on May 21.

Positive for the stock. 👍 

🎯 Adani Power : 

Promoters released pledge of 2.37 crore shares between May 20-22.

Positive for the stock. 👍

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Edited by Sharp. 

26th May, 2020 Morning Brief

Market will open with a gap up today with positive global cues.

Asian markets are advancing for the second straight day, shrugging off rising tensions between U.S. and China.

Futures on the Dow Jones are trading higher by 334 points in the morning today after the benchmark ended little changed on Friday. Markets in the U.S. were shut on Monday due to a holiday.

🎯 News & Impact 🎯

Results Updates 

🎯 HDFC Q4FY20 :

Net Interest Income up 13% to Rs 3,540 crore. 

Net profit down 22% to Rs 2,232.5 crore. 

Gross NPA at 1.99% from 1.36% in the previous quarter. 

Provisions above regulatory requirement at Rs 10,988 crore.

Positive for the stock. 👍 

🎯 Avenue Supermarts Q4FY20 :

Revenue up 23.1% to Rs 6,194 crore. 

Ebitda up 11% to Rs 418 crore. 

Ebitda margin narrows to 6.7% from 7.5%. 

Net profit up 41% to Rs 287 crore. 

🎯 JSW Steel Q4FY20 :

Revenue down 20% to Rs 17,887 crore. 

Net profit down 84.8% to Rs 231 crore. 

Ebitda down 33% to Rs 2,975 crore. Ebitda margin narrows to 16.6% from 19.8%

🎯 UPL Q4FY20 :

Revenue up 31% to Rs 11,141 crore

Net profit up 146.8% to Rs 617 crore

Ebitda up 54% to Rs 2,169 crore

Ebitda margin widens to 19.5% from 16.5%

Positive for the stock. 👍 

🎯 IDFC First Bank Q4FY20 :

Net interest income up 40.5% to Rs 1,563.5 crore. 

Net profit of Rs 71.5 crore from net loss of Rs 218 crore. 

🎯 Bayer CropSciences Q4FY20

Revenue up 81.9% to Rs 458.7 crore

Net profit of Rs 31.5 crore from a net loss of Rs 57.1 crore

Ebitda gain of Rs 58.2 crore from an Ebitda loss of Rs 92.6 crore. 

Positive for the stock. 👍 

🎯 JSPL Q4FY20

Revenue down 13% to Rs 8,811 crore

Net profit of Rs 406 crore from net loss of Rs 2,146 crore

Ebitda up 20% to Rs 2,220.5 crore

Ebitda margin widens to 25.2% from 18.1%

Positive for the stock. 👍 

🎯 Bhartiartl :

Promoters are going to sell nearly 15 crore shares through a block deal today. 

Negative for the stock. 

🎯 ITC : 

Enters into a share purchase agreement to acquire Sunrise Foods for an undisclosed sum.

🎯 RITES :

Company signed Shareholders Agreement for acquiring 24% stake in Indian Railway Stations Development Corporation (IRSDC) for Rs 48 crore, with Rail Land Development Authority and IRCON International being the other equity partners.

🎯 Eicher Motors : 

To consider a stock split and fourth quarter results on June 12.

Positive for the stock. 👍 

🎯 JSW Steel & Tata Steel :   

Fitch Ratings has downgraded the Issuer Default Ratings of both the companies to BB- from BB after a portfolio review.

Negative for the stocks. 

🎯 HFCL : 

Bags order worth Rs 175 crore from an integrator of data networks for supply of Optic Fibre Cable under the Bharat Net Phase-II program.

Positive for the stock. 👍 

🎯 InterGlobe Aviation : 

To fly more than 200 flights daily until May 31.

Positive for the stock. 👍 

🎯 Solar Industries : Suspends operations of its detonator division at its Nagpur facility.

🎯 IFGL Refractories : 

To begin construction of it's new facility in Andhra Pradesh.

🎯 NCC and Just Dial : 

To be excluded from futures and options segment from July 31.

🎯 Aarti Drugs : 

Promoters sold 50,000 shares on May 18. 

Negative for the stock. 

🎯 Cyient : 

Promoter Bodanapu Reddy acquired 1 lakh shares between May 18-22.

Positive for the stock. 👍

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Edited by Sharp. 

22nd May, 2020 Morning Brief

Market will open on a negative side today after yesterday's volatile session in line with global weakness as tensions between U.S. and China is the latest addition to the already mounting concerns of economic recovery from Covid-19.

Wall Street ended lower on Thursday, a day after hitting two-month highs, on a fresh wave of China-US tensions that raised doubts about the trade deal reached early this year between the world’s two largest economies.

The Dow Jones Industrial Average fell 0.41% to end at 24,474.12 points, while the S&P 500 lost 0.78% to 2,948.51. The Nasdaq Composite dropped 0.97%, to 9,284.88.

🎯 News & Impact 🎯 

Major Result Today : UPL

🎯 Reliance Industries :                  KKR to invest Rs 11,367 crore in Jio Platforms becoming the fifth major investor on board.

🎯 Bharti Airtel :                      Company has acquired a strategic stake in Voicezen, an early stage startup focused on conversational AI technologies.

🎯 InterGlobe Aviation :                  Will be resuming domestic flights from May 25. 

🎯 Bandhan Bank :                                In the Bank’s area of operations, 49 banking units (micro banking outlets) in five districts were impacted due to cyclone AMPHAN, out of which 45 were operational on May 21. Bank expects these 5 outlets to resume operations shortly. Business of around 65,000 micro banking borrowers, amounting to an exposure of approximately Rs 260 crore, could be impacted due to the cyclone. Negative for the stock.  

🎯 GMR Infra :                            MIHAN India has cancelled the contract for development of Nagpur Airport awarded to the company, as reported by Bloomberg News.

🎯 ONGC and NTPC :                  Signed MoU to set up joint venture for renewable energy business. As per the MoU, NTPC and ONGC will explore and set up Renewable Power assets including offshore wind, in India and overseas, and explore opportunities in the fields of sustainability, storage, E-mobility and ESG (Environmental, Social and Governance) compliant projects.

🎯 Indian Oil :                          Company has cut the run rate of its Haldia refinery in West Bengal to half its capacity after the cyclone disrupted electricity and fresh water supplies.                                      Negative for the stock. 

🎯 Bodal Chemicals :                            To consider amalgamation of wholly-owned subsidiary Trion Chemicals with itself and to re-appoint Suresh Patel as Chairman and Managing Director on May 27.                          

🎯 PFC :                                            Has incorporated 5 SPVs for development of transmission schemes in Rajasthan and Andhra Pradesh.

🎯 Emami :                                              CCI has approved acquisition of 100% stake in Emami Cement by Nuvuc Vistas.

🎯 GTL Infra :                                    Due to cyclon AMPHAN, 2,500 of its radiating towers have been affected.

🎯 Info-Edge :                              Invests Rs 7.2 crore to acquire stake in a tele health and an e-sports community platforms, respectively.

🎯 GMR Infra :                              Promoter GMR Enterprises released pledge of 3.72 crore shares on May 20.                                                Positive for the stock. 👍 

🎯 Adani Ports & SEZ :                Promoter Adani Tradeline revoked pledge of 4.84 lakh shares on May 19.                                               Positive for the stock. 👍

🎯 Max India :                        Promoter Max Ventures Holdings created pledge of 5 lakh shares on May 19. 
Negative for the stock. 

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Edited by Sharp 

21st May, 2020 Morning Brief

Market will open on a flat note today after yesterday's pullback in the afternoon.

Asian markets have opened with modest gains this morning as more economies continue to open from the Covid-19 lockdown. U.S.-China tensions remain on a high after the senate passed a bill that can bar some Chinese companies from listing on American exchanges.

The three major averages on Wall Street notched their fourth gain in five sessions on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve. 

Futures on the Dow Jones are trading lower by 103 points after the benchmark ended with gains of 1.5 % overnight.

🎯 News & Impact 🎯 

Major Results Today : BajajFinServe

Results Updates :

🎯 Bajaj Auto Q4FY20 :

Revenue down 8.2 % to Rs 6,816 crore. 

Net profit flat to Rs 1,310 crore. Ebitda up 2.1 % to Rs 1,253 crore. Ebitda margin expands to 18.4 % from 16.5 %

Realisations up 11 % to Rs 68,711 per unit Higher realisations aid margin expansion. 

Positive for the stock. 👍 

🎯 Jubilant Foodworks Q4FY20 :

Revenue up 3.8 % to Rs 897.9 crore Net profit down 71.6 % to Rs 21 crore Ebitda up 14.8 % to Rs 169.5 crore Ebitda margin expands to 18.9 % from 17.1 %

🎯 Ajanta Pharma Q4FY20 :

Revenue up 32.4 % to Rs 682 crore Net profit up 45.3 % to Rs 129.2 crore. 

Net profit aided by other income of Rs 53 crore Ebitda up 18.9 % to Rs 151.3 crore. 

Positive for the stock. 👍 

🎯 JK Lakshmi Cement Q4FY20 :Revenue down 9.5 percent to Rs 1,061.2 crore Net profit up 2.3 times to Rs 100.8 crore. 

Positive for the stock. 👍 

🎯 InterGlobe Aviation & SpiceJet : Aviation Minister Hardeep Singh Puri stated that domestic civil aviation operations will recommence in a calibrated manner from May 25.

Positive for the stocks. 👍 

🎯 Tata Power :

Company acquired 10% in Adjaristqali Netherlands BV from International Finance Corporation through its wholly-owned subsidiary Tata Power International Pte. 

🎯 Monsanto India : 

Delhi High Court has dismissed a plea by Monsanto to quash the investigation initiated by the Competition Commission of India against the company in February 2016.

Positive for the stock. 👍 

🎯 Amara Raja Batteries : 

Promoter Ringalla Family revoked pledge of 28.4 lakh shares between May 15-19. 

Positive for the stock. 👍 

🎯 Sun Pharma : 

Promoter Shanghvi Finance created pledge of 31 lakh shares on May 18. 

Negative for the stock. 

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Edited by Sharp. 

20th May, 2020 Morning Brief

Market will open on a flat note today after a volatile session witnessed yesterday.

US markets wiped out the gains after a report from STAT News that questioned the validity of the results of Moderna’s vaccine trial, which the company had announced Monday. Moderna Inc shares plunged after the report, and closed down 10.41%.

The Dow Jones Industrial Average fell 390.51 points, or 1.59%, to 24,206.86, the S&P 500 lost 30.97 points, or 1.05%, to 2,922.94 and the Nasdaq Composite dropped 49.72 points, or 0.54%, to 9,185.10.

Asian markets have opened mixed today. Futures on the Dow Jones are trading higher by 100 points after the benchmark failed to hold on to gains on Tuesday, ending 1.6 % lower.

🎯 News & Impact 🎯 

Major Results Today :

Bajaj-Auto, Drreddy, Ultracemco 

🎯 Bajaj Finance Q4FY20 :

Net Interest Income up 38 % to Rs 4,459 crore. 

Net profit falls 20 % to Rs 892 crore

Covid-19 related contingency provision at Rs 900 crore. 

Impairment expenses up 2.3 times at Rs 1,865 crore. 

Gross NPA at 1.61 % while Net NPA stood at 0.65 %

🎯 Ujjivan Small Finance Bank Q4FY20 :

Net Interest Income up 45.9 % to Rs 466.6 crore. 

Net profit up 14.7 % to Rs 73.2 crore. 

Provisions at 97 crore from 12.4 crore in the previous quarter. 

Gross NPA at 0.97 % from 0.95 % sequentially. 

🎯 Tata Power Q4FY20 :

Revenue down 8.4 % to Rs 6,620.8 crore. 

Net profit up 3.3 times to Rs 402.6 crore. 

Ebitda up 17.2 % to Rs 1,579.8 crore

Ebitda margin expands to 23.9 percent from 18.6 %

🎯 L&T Infotech Q4FY20 :

Revenue in dollar terms up 3.9 percent to $409.9 million. 

Revenue in rupee terms up 7.1 percent to Rs 3,011.9 crore. 

Net profit up 13.1 percent to Rs 426.7 crore. 

Ebitda up 9.5 percent to Rs 578 crore

Ebitda margins at 19.2 percent from 18.8 percent. 

Positive for the stock. 👍 

🎯 Cipla : 

Files ANDA for generic version of GSK’s Advair Diskus. 

🎯 Piramal Enterprises : 

Boston-based private equity firm TA Associates is in discussions to buy about 20 % stake in Piramal Pharma, for as much as $500 million.

🎯 Axita Cotton :

Company received order of $3,30,693 from Maksons Spinning Mills and $2,67,199.94 from CRC Textile Mills, Bangladesh. 

Positive for the stock. 👍 

🎯 Mangalam Drugs & Organics : Gets Certificate of Suitability (CEP) for API - Hydroxychloroquine Sulphate (HCQS) from European Directorate for the Quality of Medicines & Healthcare.

🎯 AU Small Finance Bank : Promoters revoked pledge of 15.5 lakh shares on May 19.

Positive for the stock. 👍

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Edited by Sharp. 

19th May, 2020 Morning Brief

Market will open with a gap up after yesterday's bloodbath.

Asian markets have opened higher on Tuesday, continuing with their advance in Monday's trading session. Overnight cues from Wall Street are positive on the hopes that early results for an experimental vaccine sparked speculation that economies can snap back quickly.

US stocks jumped on Monday, and the S&P 500 closed at a 10-week high, on encouraging early-stage data for a potential coronavirus vaccine and on the promise of more stimulus to lift an economy beaten down by the pandemic.

The Dow Jones Industrial Average rose 911.95 points, or 3.85%, to 24,597.37, the S&P 500 gained 90.21 points, or 3.15%, to 2,953.91 and the Nasdaq Composite added 220.27 points, or 2.44%, to 9,234.83.

🎯 News & Impact 🎯 

Major Results Today : Bajaj Finance 

Result Updates 

🎯 Bharti Airtel Q4FY20 :

Revenue up 8.1 % to Rs 23,723 crore - highest jump in last 30 quarters

Ebitda up 10.1 % to Rs 10,202 crore

Ebitda margins at 43 % from 42.2 %

Net loss widens to Rs 5,237 crore from Rs 1,035 crore. 

Exceptional loss of Rs 7,004 crore due to reassessment of regulatory cost related to spectrum charges. 

ARPU rises to Rs 154 from Rs 135. 

Negative for the stock. 

🎯 Torrent Power Q4FY20 :

Revenue up 2 percent to Rs 2,983.5 crore. 

Net loss of Rs 274.92 crore from net profit of Rs 24.8 crore. 

Provides for impairment loss of Rs 1,000 crore in the current quarter

Ebitda up 16.5 percent to Rs 827.04 crore. 

Ebitda margins expand to 27.72 percent from 24.27 percent. 

Positive for the stock. 👍 

🎯 SME : Leading stock exchanges BSE and NSE on Monday decided to reduce the listing fee for their SME platforms by 25 %

🎯 Banking / NBFCs :

The Reserve Bank of India (RBI) may extend the loan moratorium facility by another three months. 

Negative for the sector. 

🎯 Coal India: 

The government has clarified that it does not intend to privatise the state-run company even as it opens up the sector for commercial mining.

🎯 Tata Consumer Products : 

Will acquire 50 % of PepsiCo’s share in NourishCo Beverages Ltd. NourishCo is a 50:50 joint venture. 

Positive for the stock. 👍 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

18th May, 2020 Morning Brief

Market will open on a flat note today.

Asian markets are mixed at the start of a fresh trading week. Investors are finding encouragement in businesses reopening across major economies.

U.S. Federal Reserve has warned of a potential asset-price declines if the pandemic worsens.

Futures on the Dow Jones are trading higher by nearly 200 points after the benchmark ended with modest gains on Friday, trimming a weekly loss.

🎯 News & Impact 🎯 

🎯 Cipla Q4FY20 :

Revenue down 1 % to Rs 4,376 crore Net profit down 33 % to Rs 246 crore. 

🎯 L&T Technology Services Q4FY20 :

Revenue up 7.7 percent to Rs 1,446 crore Net profit up 6.9 percent to Rs 204.8 crore Ebitda up 8.1 percent to Rs 268.3 crore Ebitda margins flat at 18.5 %

🎯 Tata Chemicals Q4FY20 :

Revenue down 7.2 percent to Rs 2,378.1 crore Net profit down 46 percent to Rs 184.7 crore Ebitda down 10.4 percent to Rs 400.2 crore Ebitda margin at 16.8 percent from 17.4 %

🎯 Reliance Industries : 

General Atlantic to buy 1.34 % stake in Jio Platforms amounting to Rs 6,598 crore. General Atlantic values Jio Platforms at an equity value of Rs 4.91 lakh crore and an Enterprise Value of Rs 5.16 lakh crore. General Atlantic becomes the fourth investor in Jio Platforms in less than a month.

Positive for the stock. 👍 

🎯 Gail :

company has stalled LNG imports at the Ratnagiri port.

🎯 Godrej Consumer Products : Increases stake in Canon Chemicals to 100 % from 75 %. The stake increase has been done for a sum of Rs 106.5 crore. 

🎯 Persistent Systems : 

Awarded a multi-year contract by a leading U.S.-based multi-cloud enterprise software company.

🎯 

15th May, 2020 Morning Brief

Market will open on a positive note today tracking global markets on hopes of re-opening of the US economy and possibility of more stimulus that could fuel a recovery.

Wall Street surged on Thursday as investors weighed the prospect of economic recovery against bellicose remarks from President Donald Trump regarding US-China trade and a whistleblower’s dire warnings about the US response to the coronavirus pandemic.

The Dow Jones Industrial Average rose 377.37 points, or 1.62%, to 23,625.34, the S&P 500 gained 32.5 points, or 1.15%, to 2,852.5 and the Nasdaq Composite added 80.55 points, or 0.91%, to 8,943.72.

🎯 News & Impact 🎯 

Major Results Today : Cipla

🎯 Biocon : Company posted a profit before tax of Rs 204 crore for the fourth quarter of FY20, a decline of 28.2 %. The net profit declined 42.2 % to Rs 123 crore YoY.

🎯 Indiabulls Real Estate Q4 : Company reported a consolidated net loss of Rs 109.78 crore. Total income fell to Rs 151.69 crore. 

🎯 Tata Consumer Products : Revenue up 35.5 percent to Rs 2,405 crore. Net loss of Rs 76.5 crore from net profit of Rs 22.9 crore. Ebitda up 76.9 percent to Rs 308.3 crore. Ebitda margins widen to 12.8 % from 9.8 %

🎯 Manappuram Finance Q4FY20 : Revenue up 40 % to Rs 1,605.3 crore. Net Interet Income up 33.3 % to Rs 1,024.5 crore. Net profit up 43.7 percent to Rs 395 crore

🎯 Hindustan Aeronautics, Bharat Dynamics, Walchand Nagar Industries, BEML: India seeks warplanes as $15 billion global order stalls. 

🎯 Unichem Labs : Company received the Establishment Inspection Report (EIR) from United Stated Food and Drug Administration (USFDA) on May 13, 2020 for Active Pharmaceutical Ingredients (APIs) facility at Roha. 

🎯 IRCON International : Company signing MoU with Russian Railways' subsidiary RZD International LLC to explore opportunities for joint development of railways and other infrastructure projects in Asia, Africa and Latin America.

🎯 Intellect Design Arena : Launches its financial solutions on IBM’s public cloud.

🎯 Adani Ports & SEZ : 

Promoter Flourishing Trade & Investment acquired 18 lakh shares on May 12.                                  Positive for the stock. 👍 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

14th May, 2020 Morning Brief

Market will open with a gap-down today following global weakness. 

Asian markets have opened with losses this Thursday morning after a weak session on Wall Street as big-name investors continue to fuel doubts about valuations.

Wall Street’s three major indexes closed lower for the second day in a row after Federal Reserve Chairman Jerome Powell warned on Wednesday of extended economic weakness due to the coronavirus pandemic and called for Congress to agree on additional fiscal support.

The Dow Jones Industrial Average fell 516.81 points, or 2.17%, to 23,247.97, the S&P 500 lost 50.12 points, or 1.75%, to 2,820 and the Nasdaq Composite dropped 139.38 points, or 1.55%, to 8,863.17.

The United Nations has forecast that the coronavirus pandemic will shrink the world economy by 3.2 % this year

🎯 News & Impact 🎯 

Results Updates 

🎯 Godrej Consumer Products Q4: Profit dropped to Rs 230 cr versus Rs 935 cr, revenue fell to Rs 2,154 cr versus Rs 2,453 cr YoY.

🎯 Siemens : 

Profit fell to Rs 176 cr versus Rs 284 cr, revenue dipped to Rs 2,838 cr versus Rs 3,578 cr YoY. 

🎯 Mphasis Q4FY20 :

Revenue up 3.1 % to Rs 2,346 crore

Ebit up 3.7 % to Rs 383 crore

Ebit margins flat at 16.3 % from 16.2 %

Net profit up 20.3 % to Rs 353 crore.

🎯 NBFCs, MFIs : 

Govt provided Rs 30,000 crore liquidity facility for NBFC/HCs/MFIs, Rs 45,000 crore Partial Credit Guarantee Scheme 2.0 for NBFC. 

🎯 Power Finance Corporation, REC : To extend loans up to Rs 90,000 crore to power discoms to pay dues to power generating companies.

🎯 Infosys: Company and NICE Actimize are strategic partners to offer end-to-end financial crime solutions.

🎯 Maruti Suzuki : 

The company is to acquire 39.13% stake from Sumitomo Corporation, Japan and 10% stake from Sumitomo Corporation India held in JJ Impex (Delhi).

🎯 PNC Infratech : 

NHAI declared company, a L1 bidder for a road project in UP under Bharatmala Pariyojana on Hybrid Annuity Mode (HAM) for Rs 1,412 crore.

Positive for the stock. 👍 

🎯 Dr Reddy's Laboratories :

Company received an Establishment Inspection Report (EIR) from US FDA for its formulations plant located in a Special Economic Zone at Srikakulam in Andhra Pradesh.

🎯 Apollo Tricoat Tubes : 

Promoter Saket Agarwal sold 15 lakh shares on May 11.

Negative for the stock. 

🎯 Emami : 

Promoters created pledge of 23.7 lakh shares on May 11.

Negative for the stock. 

🎯 Solara Active Pharma Sciences : Promoter invoked pledge of 50 lakh shares between May 2-7.

Positive for the stock. 👍 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp 

13th May, 2020 Morning Brief

Market will continue yesterday's rally to open with a gap on 20 trillions' fiscal stimulus comprehensive package declared by PM to fight with Covid-19 impact on the Indian economy.

Asian equities were set to pull back on Wednesday as heightened concerns about coronavirus infections and the timing for a vaccine outweighed the lift from rebounding oil prices and upbeat corporate earnings in Europe.

The S&P 500 closed lower after a choppy session on Tuesday as investors took profits following a warning from the top US infectious disease expert that premature moves to reopen the nation’s economy could lead to novel coronavirus outbreaks and set back economic recovery.

Dow Jones Industrial Average fell 1.73% to end at 23,803.51 points, while the S&P 500 lost 1.87%, to 2,875.46. The Nasdaq Composite dropped 1.86%, to 9,021.36.

🎯 News & Impact 🎯 

April retail inflation eases to 5.84% from 5.91 recorded in March. 

March industrial production contracts 16.7%

Major Results Today : Maruti, Drreddy

Results Updates 

🎯 Nestle India Q1 :

Profit rose to Rs 525.43 cr versus Rs 462.74 cr, revenue jumped to Rs 3,325 cr versus Rs 3,003 cr YoY. 

🎯 Havells India Q4 :

Profit fell to Rs 177.7 cr versus Rs 199 cr, revenue declined to Rs 2,217.4 cr versus Rs 2,754.77 cr YoY.

🎯 Blue Star Q4 :

Profit plunged to Rs 8.38 cr versus Rs 77.55 cr, revenue fell to Rs 1,299.4 cr versus Rs 1,596 cr YoY.

🎯 IndiaMart InterMesh :

Profit rose 57% to Rs 44 cr, revenue jumped 23% to Rs 170 cr YoY.

🎯 Banking & Insurance :

Markets regulator SEBI on Tuesday gave relaxation to listed banks and insurance companies for publishing consolidated financial results for June quarter in the wake of coronavirus pandemic. 

🎯 Vedanta :

Company's promoter group has offered to acquire all the public shareholding at a price Rs 87.50 a share, and delist the company from the BSE and NSE.

🎯 Aurobindo Pharma :

Company gets US FDA nod for Ibuprofen tablets & Azelastine Hydrochloride nasal spray.

🎯 Jubilant Life Sciences :

Company has signed a deal with Gilead for production of Remdesivir to fight COVID-19. It will now have rights to sell Remdesivir to 127 countries.

🎯 NMDC :

Company has reduced prices of ore lumps and fines by Rs 400 per tonne to Rs 2,250 per tonne.

Negative for the stock.  

🎯 Indo Amines : 

NCLT approved amalgamation of Core Chemicals and Key Organics with the company. 

🎯 Apollo Tricoat Tubes : 

Promoter Lakshmi Metal Udyog acquired 14.7 lakh shares on May 11. 

Positive for the stock. 👍 

🎯 Agro Tech Foods :

Rakesh and Rekha Jhunjhunwala cut stake to 5.75% in Q4FY20 from 7.41% in. 

🎯 Uflex : 

Promoters released pledge of 2.5 lakh shares on May 11. 

Positive for the stock. 👍 

🎯 Emami : 

Promoters created pledge of 23.7 lakh shares on May 11. 

Negative for the stock. 

🎯 Sun Pharma Advanced Research : 

Promoters released pledge of 24 lakh shares on May 8.

Positive for the stock. 👍

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

12th May, 2020 Morning Brief

Market will open with a gap-down continuing yesterday's slide.

Asian markets have opened mixed on Tuesday morning as the assessment over the challenges faced by economies when they open from the Covid-19 pandemic continue. 

The S&P 500 closed slightly higher on Monday as investors looked beyond new spikes in coronavirus infections to focus on expectations that an economy crippled by mandated shutdowns will soon be re-opened for business.

Dow Jones Industrial Average fell 0.45% to end at 24,221.99 points, while the S&P 500 gained 0.01%, to 2,930.19. The Nasdaq Composite climbed 0.78% to 9,192.34.      Futures on the S&P 500 dipped lower after the index ended flat on Monday.

Oil futures climbed in early trade on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June. 

🎯 News & Impact 🎯 

Major Results Today : Nestle

Results Updates 

🎯 Piramal Enterprises Q4FY20 : Revenue down 2 % to Rs 3,341 crore Net loss of Rs 1,701.9 crore as compared to a net profit of Rs 455.3 crore. 

Negative for the stock. 

🎯 Godrej Agrovet Q4FY20 :

Revenue up 17 % to Rs 1,627.7 crore Net profit down 34.4 % to Rs 74.6 crore Ebitda up 68.5 % to Rs 126.2 crore. 

🎯 Subex :

Company reported over two-fold jump in its consolidated net profit to Rs 31.99 crore for the fourth quarter ended March 2020.

🎯 Aviation Stocks : 

The Government of India is mulling resuming commercial flights on May 18 or earlier.

Positive for the stock. 👍 

🎯 Abbott India :

Abbott has announced that the U.S. Food and Drug Administration has issued Emergency Use Authorization for the company’s Covid-19 lab-based serology blood test on the Alinity-i system. The company plans to ship nearly 30 million antibody tests globally in May across its Architect and Alinity-i platforms and will have a capacity for 60 million tests in June. 

🎯 Laurus Labs : 

Warburg Pincus decreased its stake in the company from 19.63 % to 11.68 % on May 8. 

🎯 Ind-Swift Laboratories : 

Gets Establishment Inspection Report (EIR) from the U.S. FDA, with zero form 483 observations for the Surveillance GMP inspection of its API manufacturing facility located at Derabassi in Punjab.

Positive for the stock. 👍 

🎯 Great Eastern Shipping : 

Clarified on the reports of a fire in its vessel, stating that the concerned vessel has been safe and sailing. The vessel was sold to an Indonesian company in July 2013. 

🎯 Seamec : 

Company said that its vessel ‘SEAMEC-III’ is likely to be deployed around end-July or early-August after completing the dry docking. The aggregate value of the contract is $23 million.

🎯 SBI Cards & Payment Services : Promoter SBI Life Insurance sold 1.12 lakh shares between May 7-8.

Negative for the stock. 

🎯 Jamna Auto : 

Promoter Map Auto created pledge of 23.21 lakh shares on May 5. 

Negative for the stock. 

🎯 Emami : 

Promoters created pledge of 22 lakh shares between May 5-8. 

Negative for the stock. 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

11th May, 2020 Morning Brief

Market will open with a gap up today.

Asian shares followed Wall Street higher on Monday as investors looked ahead to more countries restarting their economies, even as some reported an unwelcome pick up in new coronavirus cases.

Major US stock indexes jumped on Friday and logged solid gains for the week after data on historic job losses due to the coronavirus crisis showed they were slightly fewer than feared. All 11 S&P 500 sectors were positive, led by the beaten-up energy group , which gained 4.3%.

The Dow Jones Industrial Average rose 455.43 points, or 1.91%, to 24,331.32, the S&P 500 gained 48.61 points, or 1.69%, to 2,929.8 and the Nasdaq Composite added 141.66 points, or 1.58%, to 9,121.32.

Reversing their two-month selling streak, overseas investors pumped in a net Rs 15,958 crore in the Indian capital markets in the first week of May. As per latest depositories data, foreign portfolio investors (FPI) infused a net Rs 18,637 crore in equities, but pulled out a net Rs 2,679 crore from the debt segment between May 1-8, taking the cumulative inflow to Rs 15,958 crore.

🎯 News & Impact 🎯 

Results Updates 

🎯 ICICIBANK :                                  Net profit rises 26 % to Rs 1,221 crore. Net Interest Income up 17 percent to Rs 8,926 crore. Gross NPA at 5.53 percent from 5.95 percent in Q3FY20. Net NPA at 1.41 percent from 1.49 % in the previous quarter. Provisions up 186 percent to Rs 5,967 crore from Rs 2,083 crore sequentially.                                Positive for the stock. 👍 

🎯 Shree Cement Q4FY20 :    Revenue down 2 % to Rs 3,217.5 crore. Net profit up 83.2 percent to Rs 588.2 crore. Ebitda up 27.3 percent to Rs 1,078.9 crore. Ebitda margin expands to 33.5 percent from 25.8 %

🎯 HDFC AMC Q4FY20 :          Revenue down 2 % to Rs 476 crore. Net profit fell 10 percent to Rs 249.83 crore. Operating profit from core AMC business down 1 % to Rs 359.6 crore. 

🎯 Reliance Industries : Saudi Arabia's sovereign wealth fund called the Public Investment Fund is considering purchasing a minority stake in Jio platforms

🎯 Sequent Scientific :              Carlyle Group enters into binding agreement with promoters to acquire up to 74 % equity stake. Promoters to sell up to 11.15 crore shares or 44.92 percent of their stake while Ascent India Fund to sell 1.41 crore shares or 5.69 percent of expanded voting share capital respectively at Rs 86 per share.

🎯 Lupin :                              Announced the closure of inspections carried out by the U.K. MHRA at its three manufacturing units in Pithampur. The inspection was carried out in January 2020.

🎯 Dr Reddy's Labs :                Company is recalling 1,752 bottles of generic heartburn medicine in the US after the American health regulator found quality issues with the product. As per the latest Enforcement Report by the the US Food and Drug Administration (USFDA), the firm is voluntarily recalling 1,752 bottles (1,000 count) of 40 mg Esomeprazole Magnesium delayed release capsules in the US.

🎯 Cipla :                                          Gets Establishment Inspection Report (EIR) for its API facility in Bengaluru from the U.S. FDA. The inspection took place between January 20-24, 2020.                

🎯 Cadila Healthcare :                        To manufacture Isg ELISA - the diagnostic kit for testing Covid-19 developed by ICMR-NIV, Pune. The technology has been transferred to Zydus Cadila for mass scale production.

🎯 J Kumar Infra :                          Gets Letter of Acceptance from NBCC for construction of SDMC headquarters in Delhi for a contract value of Rs 559.78 crore. 

🎯 Minda Corp :                              Calls off Joint Venture with Shandong Beiqi Hai Hua Automobile Parts (China) for producing and selling automotive components.

🎯 Future Retail :                    Promoter Future Corporate Resources invoked pledge of 11.26 lakh shares on May 6.              Positive for the stock. 👍 

🎯 Apollo Pipes :                    Promoter Sameer Gupta acquired 75,000 shares or 0.57 percent take at Rs 329.98 per share. 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

8th May, 2020 Morning Brief

Market will open with a gap up today after a flat session witnessed on Thursday.

Asian markets have opened with modest gains on Friday morning as investors continue to weigh moves to reopen economies against the data describing the Covid-19 has inflicted on them.

Futures in the U.S. have edged higher after a positive session on Thursday. The two-year treasury yields steadied after falling to a record low. 

Markets in Japan have opened with steady gains, as have those in Australia and South Korea.

Futures on the Dow Jones are currently trading higher by 200 points. The Nasdaq composite turned positive for the year once again, wiping out losses that reached as low as 24 % from its record high.

🎯 News & Impact 🎯 

Results Updates :

RBL Bank 

• Net Interest Income rises 38.2 percent to Rs 1,020.9 crore
• Net profit fell 53.7 percent to Rs 114.4 crore
• Gross NPA at 3.62 percent from 3.33 percent sequentially
• Net NPA at 2.05 percent from 2.07 percent in Q3FY20
• Provisions at 614.1 crore from 638.3 crore in the previous quarter.

🎯 ICICI Securities Q4FY20 :

Revenue up 12.5 percent to Rs 481.9 crore

Net profit up 28.3 percent to Rs 155.9 crore

Retail equities segment revenue up 35 percent to Rs 292 crore

Added 1.1 lakh new clients this quarter. 

🎯 Gillette India Q3 : 

Profit down to Rs 52.38 crore versus Rs 87.76 crore, revenue fell to Rs 406.57 crore versus Rs 465.51 crore YoY.

🎯 Reliance Industries: Bloomberg News reports that the company is considering selling its stake in Asian Paints valued at about $989 million as the conglomerate steps up efforts to trim its debt, said people familiar with the matter. The company is in discussions with banks for the same. In a separate statement, the company said that Vista Equity Partners will be investing Rs 11,367 crore in Jio platforms at an equity value of Rs 4.91 lakh crore.

🎯 Cyient :                                      Board approves increasing investment limit of Foreign Portfolio Investors to 74 % from 49 %.    Positive for the stock. 👍 

🎯 Zydus Cadila :                            Gets final approval from the U.S. FDA for Deferasirox Tablets for oral suspension. It is used to treat iron overload caused by blood transfusions.                              Positive for the stock. 👍 

🎯 Eicher Motors :                            VE Commercial Vehicles segment has received the required government permissions to restart manufacturing operations in six of its plants located in Pithampur, Dewas, Thane and Baggad.                        

🎯 GMR Infra :                          Clarifies that none of its group companies have approached banks for restructuring of loans and State Bank of India is not the largest lender to the group. 

🎯 NLC India :                                        8 workmen are injured an explosion in the company’s thermal plant at Neyveli. 

🎯 Nath Bio-Genes :                        Has launched a new cotton hybrid (Cotton BG-II) for the Indian market. The product will be launched this kharif season.

🎯 Uflex :                                Promoters released pledge of 15 lakh shares between May 5-7.

Positive for the stock. 👍 

🎯 Neuland Labs :                          Gets Establishment Inspection Report (EIR) from the U.S. FDA for its manufacturing facility in Hyderabad. The facility was inspected between February 3-7. The inspection now stands closed.

Negative for the stock. 

🎯 Mindtree :                        Promoters sold 66,000 shares on May 6.

🎯 Mindtree : 

Promoters sold 66,000 shares on May 6.

Negative for the stock. 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

7th May, 2020 Morning Brief

Market will open on negative side today after a volatile session.

Asian stocks have opened lower on Thursday morning, digesting weak overnight cues from the U.S. amid mixed corporate earnings and worsening macro data. Japanese markets have marked their return from the Golden Week holidays with declines. Markets in South Korea and Australia too are trading with a negative bias.

🎯 News & Impact 🎯 

🎯 Hindustan Unilever : 

GSK Group to sell 5.69 % stake in the company for $3.3-3.5 billion. The offer prices for 13.37 crore shares ranges between Rs 1,850 - 1,950 per share. 

🎯 Vedanta: 

Bloomberg News reports that the sale of its stake in its oil arm Cairn worth over $1 billion is said to stall.

🎯 Dr. Reddy’s Laboratories : 

Received approval for Celecoxib oral solution from the U.S. FDA. The said drug is used to treat migraine.

🎯 Aster DM Healthcare: 

The company's clinical arm, Aster Clinical Lab LLP has started to provide RT-PCR confirmatory test services for Covid-19 in Bengaluru.

🎯 TCS : 

Continental Bank selects TCS BaNCS Cloud to offer richer, digitalised customer experiences.

🎯 BPCL : 

Numaligarh Refinery has awarded a Rs 300 crore contract to Thyssenkrupp.

🎯 Coal India : 

Fine worth Rs 43.3 crore imposed on the company for illegal mining in Assam forest.

🎯 Hindustan Aeronautics : 

The Ministry of Finance has appointed IDBI Capital Markets, SBI Capital Markets and Yes Securities as merchant bankers and selling brokers for divestment of 15 percent of the government's stake in the company through an Offer for Sale (OFS).

🎯 Workhardt : 

Promoter Themisto Trustee released a pledge of 73.5 lakh shares on May 6.

Positive for the stock. 👍 

🎯 Mindtree : 

Promoter Subroto Bagchi sold 2,000 shares on May 4.

Negative for the stock.

🎯 Apollo Pipes : 

Promoter Sameer Gupta acquired 1.51 lakh shares (1.15 %) at Rs 315.01 per share. 

Positive for the stock. 👍 

🎯 Supreme Petrochem : 

Promoter Supreme Industries acquired 10.68 lakh shares (1.11 %).

Positive for the stock. 👍 

6th May, 2020 Morning Brief

Market will open on a flat note today after a volatile session witnessed yesterday.

Markets in Asia have opened on a mixed note as investors weigh opening up of economies from the lockdown with caution.

The S&P 500 ended higher for the second straight day, managing to weather a late pullback where it almost gave up gains of as much as 2 %. Futures in the U.S. are currently flat.

U.S. President Donald Trump continues to blame China for the global pandemic, stoking fears of reigniting the trade war.

🎯 News & Impact 🎯 

🎯 Adani Ports & SEZ Q4FY20 :

Revenue falls 5.2 % to Rs 2,921 crore

Ebitda down 15 percent to Rs 1,644 crore. 

Ebitda Margin narrows to 56.3 % from 62.7 %

Net profit falls 74 % to Rs 334 crore.

🎯 SBI Life Q4 : 

Profit rose to Rs 530.67 cr versus Rs 457.68 cr. 

Net premium income rose to Rs 11,863 cr versus Rs 11,333 cr YoY. 

Positive for the stock. 👍 

🎯 NIIT Tech : 

Revenue up 3.3 % to Rs 1,109.3 crore in the current quarter. 

Net profit falls 7.9 % sequentially while Ebitda margins were flat at 17.9 % from 18.1 % in Q3. 

The company reported an exceptional loss of Rs 12.8 crore this quarter.

🎯 Tata Coffee :

Company reported a 6 % fall in its consolidated net profit to Rs 9.86 crore for the quarter ended March 31.

🎯 Astec Lifesciences :

Net profit jumped 145 % YoY to Rs 31.17 crore for the quarter ended March 31, 2020

🎯 Oil Marketing Companies : 

Excise duty on petrol and diesel has been hiked by Rs 10 and Rs 13 respectively. This is the steepest such hike in excise duty. Retail fuel prices remain unchanged which means that OMCs will have to bear the brunt of the hike. HPCL, BPCL and Indian Oil were earning a gross marketing margin of Rs 18-20 on retail fuel which now stands reduced.

Negative for the stocks. 

🎯 VST Tillers Tractors : 

Power Tillers sales up 2.6 times at 761 units while Tractors sales down 24 % at 328 units in April.

Positive for the stock. 👍 

🎯 Wipro : 

Signs MoU with Maharashtra to re-purpose its I.T. facility in Pune to a 450-bed Covid-19 hospital. Hospital to be converted back to an I.T. facility in a year.

🎯 Lloyds Metals and Energy : 

Board meeting on May 8 to consider MoU between company and Thriveni Earthmovers for mining operation JV. 

🎯 Shilpa Medicare : 

Company decided to establish subsidiary in Canada (North America) and Spain (Europe) for business operations. 

🎯 Apollo Pipes : 

Promoter Sameer Gupta acquired 1.25 lakh shares (0.95 %) at Rs 309.98 per share.

Positive for the stock. 👍 

🎯 Forbes & Company : 

Promoter Shapoorji Pallonji created pledge of 38.7 lakh shares on April 30. 

Negative for the stock. 

🎯 Future Consumer : 

Promoter Future Capital Investment invoked pledge of 94 lakh shares on April 30.

Positive for the stock. 👍

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

5th May, 2020 Morning Brief

Market will open on with a gap up after yesterday's fall of more than 5%.

Cues from the Asia Pacific will remain lacklustre in today's trading session as most equity markets remain shut on account of a holiday.

Futures in the United States are higher after a late-session advance led to a positive close on Wall Street. Futures on the S&P 500 trade 0.3 % higher after the benchmark pared early losses to end higher by 0.4 %.

🎯 News & Impact 🎯

Major Results Today :

Adani Ports & SEZ

Results Updates :

🎯 Marico Q4FY20

Revenue falls 7 % to Rs 1,496 crore. Net profit falls 51.4 % to Rs 194 crore.                                                  Tax write-back of Rs 188 crore in the base quarter.                                Ebitda down 4.1 % to Rs 282 crore. Ebitda Margin at 18.9 % from 18.3 %.

🎯 Lupin :                                Company announced positive topline results from Phase 3 study of Single-Dose Solosec for trichomoniasis treatment. 

🎯 Nath Bio-Genes :                        Has received 92 percent of the targeted seed production from the fields. Balance 8 percent expected to be received by May 15. All plants have become fully operational.

🎯 Mindtree :                          Promoter Subroto Bagchi sold 1.34 lakh shares between April 29-30, as reported on May 4.                  Negative for the stock.

🎯 Sun Pharma :                    Promoter Raksha Valia created pledge of 3 lakh shares on April 30. Negative for the stock. 

🎯 Emami :                              Promoter Bhanu Vyapaar created pledge of 10 lakh shares on April 28. Negative for the stock.

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Edited by Sharp. 

4th May, 2020 Morning Brief

Market will open with a gap down today after pullback of nearly 50% from the March bottoms.

Risk-off sentiment persisted across Asian Markets on Monday morning as U.S. equity futures continued to decline. Global stocks had ended April on a high after rebounding from their lows in March.

Futures on the S&P 500 are down more than 1.5 percent after the benchmark fell 2.8 percent on Friday.

Markets have opened lower in Australia and South Korea while those in China and Japan are shut on account of a holiday. 

🎯 News & Impact 🎯

Results Updates :

🎯 Reliance Industries Q4FY20 :

Revenue falls 14.3 % to Rs 73,596 crore Ebitda falls 12 % to Rs 11,343 crore. 

Ebitda Margins expand to 15.3 % from 14.9 %. 

Net Profit down 73.1 % to Rs 2,580 crore - the biggest drop in at least 13 years Net profit impacted by inventory losses, lower refining margins, higher finance cost and higher tax rate. 

Gross Refining Margin at $8.9 per barrel versus $9.2 per barrel Petrochemical revenue down 12.7 percent to Rs 32,206 crore. 

Reliance Jio : Revenue up 6.2 % to Rs 14,835 crore. 

Ebitda up 10.6 % to Rs 6,175 crore Ebitda Margin expands to 41.6 % from 40 percent Net profit up 72.7 % to Rs 2,331 crore. 

🎯 Hindustan Unilever Q4FY20 YoY :

Net sales down 9.4 % to Rs 9,011 crore Lowest net sales in nine quarters Ebitda down 11 % to Rs 2,065 crore. 

Ebitda margins contract to 22.9 percent from 23.3 %

Net profit down 1.2 % to Rs 1,519 crore. 

🎯 Tech Mahindra Q4FY20 :

Dollar Revenue down 4.3 % to $1,295 million. 

Revenue in rupee terms down 1.7 % to Rs.9,490 crore. 

Ebit down 37.9 % to Rs 732 crore. 

Ebit margin declines to 7.7 % from 12.2 %. 

Net profit down 29.8 % to Rs 804 crore. 

🎯 Reliance Industries : 

To raise Rs 53,125 crore via rights issue at Rs 1,257 per share which is a discount of 14 percent to the closing price on April 30.

The company will also separate out its oil to chemicals business, via slump sale to Reliance O2C.

Positive for the stock. 👍 

🎯 Nippon Life Insurance : 

The company has shared an update for FY20 where Total Individual Premium collection rose 4 % to Rs 4,375 Crore. 

Embedded Value rose 20.4 % to Rs 4,314 Crore. 

Net Profit was up 37.2 % to Rs 35 crore. 

13th Month Persistency stood 77.03 percent while AUMs were Rs 19,837 crore.

🎯 AU Small Finance Bank : Q4FY20 YoY :

Net Interest Income up 43 % to Rs 555 crore. 

Net profit up 3.4 % to Rs 122 crore. Provisions rise three times sequentially to Rs 150 crore Vs 40 crore Gross NPA at 1.68 % from 1.88 % in Q3FY20. 

Net NPA at 0.81 % from 1.01 % in Q3FY20. 

Positive for the stock. 👍

🎯 ICICI Lombard General Insurance Q4FY20 :

Gross Direct Premium down 8.7 % to Rs 3,181 crore. 

Net profit up 23.8 % to Rs 282 crore. 

🎯 April Auto Sales 

Maruti Suzuki: Reports zero domestic sales. Exports down 93 % to 632 units. 

Negative for the stock. 

Mahindra & Mahindra: 

Reports zero domestic sales. Exports down 65 % to 733 units. 

Tractor sales down 83 % to 4,772 units. 

Eicher Motors: Reports sales of 91 units. VE Commercial Vehicles sold 85 units. 

Escorts: Total sales down 86.6  to 705 units. Exports down 67 percent to 92 unit. 

SML Isuzu: reported zero sales.

🎯 Cadila Healthcare :

Company received tentative nod from the US health regulator to market generic Empagliflozin and Metformin Hydrochloride tablets, used for management of type-2 diabetes, in the US market.

Positive for the stock. 👍 

🎯 Tata Motors :

Company sold and transferred GDC business on a slump sale basis for Rs 10.3 crore to subsidiary TML Business Services.

🎯 Kalpataru Power :

Company terminated agreement to sell arm to CLP India as conditions not met. 

🎯 Birlasoft : 

Promoter SB Pandit sold 2.08 lakh shares on April 27. 

Negative for the stock. 

🎯 Mindtree : 

Promoters sold 80,085 shares from April 28-29. 

Negative for the stock. 

🎯 Adani Ports :

Company said its promoters Gautam S Adani and Rajesh Adani on behalf of SB Adani Family Trust have released pledge on 5.66 crore equity shares held in the company, comprising its 2.78 % holding.

Positive for the stock. 👍 

🎯 Strides Pharma Sciences : Promoters released pledge of 4 lakh shares on April 30. 

Positive for the stock. 👍 

🎯 GTPL Hathway : 

Promoters released pledge of 28 lakh shares on April 29. 

Positive for the stock. 👍 

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Edited by Sharp.