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. 👍 

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Edited by Sharp.