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.