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.