Wednesday, 6 May 2020

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. 👍 

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