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. 👍 

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Edited by Sharp.