1st July, 2020 Morning Brief

Market will open on a flat note today after yesterday's volatile session. 

The S&P 500 rallied on Tuesday to finish higher and secure its biggest quarterly percentage gain in more than two decades as improving economic data bolstered investor beliefs that a stimulus-backed rebound for the U.S. economy was on the horizon. Consumer confidence index rose greater than expected. 

The Conference Board Consumer Confidence Index® increased in June, after virtually no change in May. The Index now stands at 98.1 (1985=100), up from 85.9 in May.

[01/07, 00:31] +91 98220 16442: Positive for USD

The Dow Jones Industrial Average rose 217.08 points, or 0.85%, to 25,812.88, the S&P 500 gained 47.05 points, or 1.54%, to 3,100.29 and the Nasdaq Composite added 184.61 points, or 1.87%, to 10,058.77.

S&P Global Ratings says, Loan recasts to only defer problem, NPAs may zoom up to 14% due to COVID-19.

Fiscal deficit for April-May 2020 at Rs 4.66 lakh crore, nearly 59% of annual target The April-May 2020 data released by the government also highlights that the revenue deficit during the said period stands at around Rs 4.12 lakh crore as against Rs 3.21 lakh crore in the year-ago period.

Fitch Ratings on June 30 lowered India's growth forecast for 2021-22 fiscal to 8 percent from 9.5 percent projected last month. The rating agency, however, retained its projection of Indian economy contracting by 5 percent in the current fiscal.

The output of India's eight core sectors contracted 23.4 percent month-on-month in May due to the impact of the COVID-19 lockdown. 

All mutual fund purchases will attract a stamp duty from July 1.

🎯 News & Impact 🎯 

🎯 ONGC Q4 :

Loss at Rs 3,098 cr versus profit at Rs 4,226.45 cr, revenue at Rs 21,456.2 cr versus Rs 23,710.05 cr QoQ. 

Negative for the stock. 

🎯 New India Assurance :

Company posted Q4 net profit at Rs 127 crore Total income in the March quarter rose to Rs 7,040.23 crore from Rs 6,570.11 crore in the same period a year ago, the company said in a regulatory filing. 

🎯 Bharat Bijlee Q4 :

Profit at Rs 14.17 cr versus Rs 9.63 cr, revenue at Rs 260.08 cr versus Rs 273.05 cr YoY.

Positive for the stock. 

🎯 Cupid Q4 : 

Profit at Rs 10.43 cr versus Rs 4.36 cr, revenue at Rs 41.3 cr versus Rs 36.90 cr YoY.

🎯 Bajaj Healthcare Q4 :

Profit at Rs 9.6 cr versus Rs 6.38 cr, revenue at Rs 118.5 cr versus Rs 99.3 cr QoQ.

Positive for the stock. 👍 

🎯 Bharti Airtel :

Company said Carlyle Group will buy a 25 percent stake in its data centre business for $235 million. Carlyle Group will make the investment in Bharti Airtel's Nxtra Data at a valuation of $1.2 billion.

Positive for the stock. 👍 

🎯 Vodafone Idea :

Telecom major Vodafone Idea is planning to monetise its 11.15 % stake in Indus Towers on completion of its merger with Bharti Infratel.

🎯 Kalpataru Power Transmission  :

Company received new orders of Rs 956 crore.

🎯 Marico :

Company acquired balance equity stake of 55% in Zed Lifestyle from its existing shareholders.

🎯 Yes Bank, Zee Entertainment :

Yes Bank has filed a suit at the Bombay High Court against Zee Entertainment Enterprises and its board of directors, including founder Subhash Chandra as well as MD and CEO Punit Goenka, over their alleged failure to honour obligations under a disputed guarantee related to a 2016 loan of around $50 million. 

🎯 Jindal Steel & Power :

Subsidiary JSPL (Mauritius) to sell its stake in Oman subsidiary, Jindal Shadeed, to Templar Investments. The enterprise value of the deal is over $1 billion.

Positive for the stock. 👍 

🎯 Laurus Labs :

Promoter Satyanarayana Chava released pledged on 2.34% stake.

Positive for the stock. 👍 

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Edited by Sharp. 

30th June, 2020 Morning Brief

Market will open on a positive note today after late recovery seen in the last session.

Wall Street stocks closed higher on Monday and the S&P 500 was poised to clinch its biggest quarterly percentage gain since 1998 as investors hoped for a stimulus-backed economic rebound. 

Boeing shares helped Dow Jones Industrial Average to rise by 580.25 points, or 2.32%, to 25,595.8, the S&P 500 gained 44.19 points, or 1.47%, to 3,053.24 and the Nasdaq Composite added 116.93 points, or 1.2%, to 9,874.15.

Human sentiments could remain positive as the Drug Controller General of India (DCGI) on June 29 granted permission to Bharat Biotech to initiate Phase I and II human clinical trials of its novel coronavirus, or COVID-19, vaccine.

Japan’s industrial output fell by 8.4% (Mom) for a fourth straight month in May to the lowest level since the global financial crisis of 2008 on the other side, China’s factory activity expanded at a faster pace in June, beating expectations. 

SEBI again relaxes compliance requirement for portfolio managers regarding upfront fees till 1st October, 2020.

🎯 News & Impact 🎯 

Major Result Today : ONGC

🎯 Central Bank of India Q4 : 

Loss at Rs 1,529 cr versus loss of Rs 2,477.4 cr, NII at Rs 1,925.8 cr versus Rs 1,602.5 cr YoY.

🎯 Tata Steel Q4 :

Loss at Rs 1,095.7 cr versus profit at Rs 2,430.9 cr, revenue at Rs 33,770 cr versus Rs 42,423 cr YoY. 

🎯 Bharat Dynamics Q4 :

Profit at Rs 309.7 cr versus Rs 124.1 cr, revenue at Rs 1,435.4 cr versus Rs 878 cr YoY.

Positive for the stock. 👍 

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Edited by Sharp 

29th June 2020, Morning Brief

Market will open with a gap-down today tracking global markets after a lacklustre session witnessed on last Friday, the very first day of July month derivatives contract expiry.

Asian markets have opened the new trading week with losses as concerns mount over rising Coronavirus cases across the United States. 

Japan's May retail sales fall sharply as lockdown measures hit demand

Wall Street’s major indexes tumbled more than 2% on Friday as several US states imposed business restrictions in response to a surge in coronavirus cases.

The Dow Jones Industrial Average fell 730.05 points, or 2.84%, to 25,015.55, the S&P 500 lost 74.71 points, or 2.42%, to 3,009.05 and the Nasdaq Composite dropped 259.78 points, or 2.59%, to 9,757.22.

🎯 News & Impact 🎯 

Around 47 companies will announce their quarterly results today. 

🎯 ITC Q4 :

Profit at Rs 3,797 crore versus Rs 3,481.9 crore, revenue at Rs 11,420 crore versus Rs 12,206 crore YoY. 

Positive for the stock. 👍 

🎯 Coal India Q4 :

Profit at Rs 4,625.8 cr versus Rs 6,026.5 crore, revenue at Rs 27,568.3 crore versus Rs 28,585 crore YoY. 

🎯 IOC Q4 :

Profit at Rs 1,597.4 crore versus loss of Rs 70.6 crore, revenue at Rs 2,607 crore versus Rs 3,097 crore YoY. 

Positive for the stock. 👍 

🎯 HUDCO Q4 :

Profit at Rs 440.9 crore versus Rs 236.3 crore, revenue at Rs 1,888.5 crore versus Rs 1,474.8 crore YoY. 

Positive for the stock. 👍 

🎯 Oil India Q4 : 

Profit at Rs 1,597.40 crore versus loss at Rs 70.59 crore, revenue at Rs 2,607.38 crore versus Rs 3,097.26 crore YoY.

Positive for the stock. 👍 

🎯 Adani Transmission :

The company acquired Kharghar Vikhroli Transmission Private Limited from Maharashtra State Electricity Transmission Company. 

Positive for the stock. 👍 

🎯 Piramal Enterprises :

Carlyle Group will buy a 20 percent stake in the company’s subsidiary Piramal Pharma for $490 million or Rs 3,700 crore via fresh equity issuance. 

Positive for the stock. 👍 

🎯 Aviation Stocks :

The Centre has allowed domestic airlines to operate at 45 % capacity. 

Positive for Indigo & Spicejet. 👍 

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Edited by Sharp. 

26th June 2020 Morning Brief

Market will open on a positive note today after a very choppy ending of June month derivative expiry.

Asian markets have opened higher on the final trading day of the week after a late surge on Wall Street. Investors are weighing prospects of additional stimulus over rising Covid-19 cases in the US. 

Wall Street’s main indeces closed higher in choppy trading on Thursday, with bank stocks soaring. 

The Dow Jones Industrial Average rose 299.66 points, or 1.18%, to 25,745.6, the S&P 500 gained 33.43 points, or 1.10%, to 3,083.76 and the Nasdaq Composite added 107.84 points, or 1.09%, to 10,017.

🎯 News & Impact 🎯 

Major Results Today : ITC, Coal India, Glenmark Pharmaceuticals, Oil India, NALCO, SunTv. 

The Securities and Exchange Board of India (SEBI) on June 25 announced revisions to various regulations related to pricing norms for preferential share issue, insider trading.

🎯 Power stocks : India may impose up to 25% import tax on solar modules, solar cells.

Negative for power generation stocks but positive for panel manufacturers.

🎯 IT stocks :

Indian IT companies may forgo filing fresh H-1B petitions for FY21. 

Negative for the stocks which have on shore workings for US.

🎯 Vedanta :

Company said it has received shareholders' nod for delisting the company.

🎯 JB Chemicals & Pharmaceuticals Q4 :

Profit at Rs 50.14 cr versus Rs 46.66 cr, revenue at Rs 443.57 cr versus Rs 418.9 cr YoY.

Positive for the stock. 👍 

🎯 Engineers India Q4 : 

Profit at Rs 119.7 cr versus Rs 88.95 cr, revenue at Rs 864.4 cr versus Rs 618.08 cr YoY. 

Positive for the stock. 👍 

🎯 Apollo Hospitals Enterprises :

Company reported an over two-fold jump in consolidated net profit to Rs 209.60 crore vs 72.8 crore YoY. 

Consolidated revenue from operations stood at Rs 2,922.43 crore vs 2499.5 crore. 

Positive for the stock. 

🎯 Ashok Leyland :

Company reported a 92.31 % decline in consolidated net profit at Rs 57.78 crore vs Rs 751.71 crore YoY. Revenue from operations during the quarter under review stood at Rs 5,088.04 crore as against Rs 9,874.04 crore. 

🎯 Container Corporation of India :

Company reported a 10.78 % dip in consolidated net profit to Rs 317.51 vs 355.91 crore YoY. 

🎯 ABB Power Grids India :

Company signed a Memorandum of Understanding (MoU) with the National Institute of Technology, Warangal (NITW), Telangana, for cooperation to drive smart electric grid technology education, skills development and research activities.

🎯 PNC Infratech :

Company received Letters of Award from NHAI for 53.95 km long Four-laning of Meerut - Nazibabad section of NH-119 road project in Uttar Pradesh for a bid project cost of Rs 1,412.00 crore.

Positive for the stock. 👍 

🎯 Sumitomo Chemical India :

Promoter Sumitomo Chemical Company to sell 49,91,457 shares (1 percent) via offer for sale on June 26-29, with an option to sell additional 49,91,457 shares (1 percent).

🎯 Camlin Fine Sciences :

Convergent Finance LLP, an investment advisor to Infinity Investment Management said that it will be investing up to Rs 180 crore in the company engaged in the manufacturing of antioxidants and aroma chemicals supplying the food industry globally.

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Edited by Sharp. 

25th June, 2020 Morning Brief

Market will open with a gap-down today after yesterday's volatile session following weak Asian cues led by tumbled US markets and its futures in the morning today. 

Asian markets have opened lower this morning after a weak session on Wall Street. Sentiment turned risk-off after a surge in Covid-19 cases in multiple states across the U.S.

Wall Street’s three major indexes on Wednesday suffered their biggest daily percentage drop in almost two weeks as a surge in U.S. coronavirus cases intensified fears of another round of government lockdowns and worsening economic damage.

The Dow Jones Industrial Average fell 710.16 points, or 2.72%, to 25,445.94, the S&P 500 lost 80.96 points, or 2.59%, to 3,050.33 and the Nasdaq Composite dropped 222.20 points, or 2.19%, to 9,909.17.

Oil prices tumbled over 5%, or more than $2 a barrel on Wednesday, after U.S. crude storage hit another record. 

🎯 News & Impact 🎯 

Major Results Today : Ashokley, Bankindia

🎯 United Breweries Q4FY20 Revenue down 12.6% to Rs 1,424.2 crore Net profit down 39.3% to Rs 14.2 crore Ebitda down 22.8% to Rs 132.3 crore Ebitda margin down to 9.3% from 10.5%

🎯 Canara Bank Q4 (Standalone, YoY)

Net Interest Income down 5.19% at Rs 3,318.5 crore

Net loss at Rs 3259.3 crore versus Net loss at Rs 551.5 cr ore

Provisions at Rs 4,875.3 crore versus Rs 5,120.9 crore

GNPA at 8.21% versus 8.36% QoQ

NNPA at 4.22% versus 5.05% QoQ

🎯 General Insurance Corporation Q4 (Standalone, YoY)

Gross Premium up 14% at Rs 9,217.8 crore. 

Net profit at Rs 1,197.4 crore versus Net loss at Rs 1,556.5 crore

Solvency ratio at 1.53 versus 2.06

GNPA at 4.42% versus 3.01%

NNPA at 0.63% versus 1.12%.

Positive for the stock. 👍 

🎯 Karur Vysya Bank Q4 :

Profit at Rs 83.70 cr versus Rs 60 cr, revenue at Rs 590.48 cr versus Rs 619.23 cr YoY.

Positive for the stock. 👍 

🎯 Reliance Industries : 

CCI approves acquisition of 9.99% stake in Jio Platforms by Facebook’s arm Jaadhu Holdings.

Positive for the stock. 👍 

🎯 Bharti Infratel : 

Extends long stop date for Indus Towers deal till August 31. 

🎯 TCS :

Company helped Zebra Technologies deploy a unified platform to enrich partner experience.

🎯 CG Power and Industrial Solutions : 

Subsidiary CG International BV entered into a Share Purchase Agreement with AK Group France, for divestment of its entire shareholding in subsidiary, CG Services Systems France SAS. 

🎯 Andhra Paper : 

Promoter International Paper Investments to sell 39.77 lakh shares (10% equity) through an offer for sale (OFS), with an option to sell an additional 28.64 lakh shares (7.2% equity).  

Negative for the stock. 

🎯 Metropolis Healthcare : 

Promoter Duru Sushil Shah sold 30.54 lakh shares (6.03%) at Rs 1,383.4 per share.

Negative for the stock.

🎯 Bombay Dyeing :

Nowrosjee Wadia and Sons sold 2.11% stake in company at Rs 76.90 per share. 

Negative for the stock. 

🎯 Eveready Industries :

Company promoters invoked pledge of 6 lakh shares on June 16.

Positive for the stock. 👍 

🎯 DB Corp :

Company promoter DB Consolidated revoked pledge of 19 lakh shares on June 22.

🎯 Strides Pharma :

Company promoter Lifecell International released pledge of 14 lakh shares on June 24.

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Edited by Sharp. 

24th June, 2020 Morning Brief

Market will open on a flat note today after yesterday's broad-based rally. 

Asian markets are fluctuating in mid-week trade after strong gains seen over the past few days.

Wall Street’s three major indexes closed higher on Tuesday as improving economic data and the prospect of more stimulus bolstered hopes of a swift recovery, while a jump in technology shares powered the Nasdaq to another record high.

The Dow Jones Industrial Average rose 131.14 points, or 0.5%, to 26,156.1, the S&P 500 gained 13.43 points, or 0.43%, to 3,131.29 and the Nasdaq Composite added 74.89 points, or 0.74%, to 10,131.37.

🎯 News & Impact 🎯 

Major Results Today : GAIL, IOC, United Breweries 

Indian and Chinese military commanders have agreed to step back from a confrontation over a disputed stretch of border.      Positive for the market.

🎯 Sebi on Tuesday allowed scanned copies of documents for renewing registration till August 31 in the wake of coronavirus pandemic. Earlier, this relaxation was given till June 30. Positive for the market.

🎯 Asian Paints Q4 : Profit at Rs 461.89 cr versus Rs 471.65 cr, revenue at Rs 4,635.6 cr versus Rs 4,991.50 cr YoY. 

🎯 Bank of Baroda Q4 : Profit at Rs 507 cr versus loss at Rs 8,875 cr, net interest income at Rs 6,798 cr versus Rs 6,473 cr YoY. Positive for the stock. 👍 

🎯 Wipro : Company received infrastructure modernization and digital transformation contract by German-based firm E.ON. 

🎯 Reliance Infrastructure :|Chairman Anil Ambani on June 23 said the company will be completely debt-free this financial year. RInfra, which is sitting on a debt of over Rs 6,000 crore, has been working towards monetising its assets to reduce debt. Addressing the company's 91st annual shareholders meeting through an online platform, Ambani said, "RInfra will be a debt-free company this year." Positive for the stock. 👍 

🎯 Bharat Road Network :  The company and Cube Highways decided not to pursue the transaction (for buying holding in Ghaziabad Aligarh Expressway Private Limited from Cube Highways) any further.

🎯 JMC Projects : Company secured new orders of Rs 938 crore. Positive for the stock. 👍 

🎯 Quess Corp : Promoter Ajit Abraham Isaac bought 15,000 shares in company on June 22, increasing stake to 12.20 percent. Positive for the stock. 👍 

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Edited by Sharp. 

23rd June, 2020 Morning Brief

Market will open on on a positive note today. 

Wall Street’s three major indexes closed higher on Monday with the biggest gains in technology stocks as investors focused on the potential for more government stimulus measures even as they worried about an increase in coronavirus cases in the United States and other countries.

The Dow Jones Industrial Average rose 153.5 points, or 0.59%, to 26,024.96, the S&P 500 gained 20.12 points, or 0.65%, to 3,117.86 and the Nasdaq Composite added 110.35 points, or 1.11%, to 10,056.48.

Panic gripped Asian markets after a positive open on Tuesday morning after senior White House official Peter Navarro's comments on the U.S.-China trade deal.

📊 Nifty Outlook : 

The Nifty50 witnessed a gap-up opening but turned volatile with a positive bias before signing off the session above the 10,300 despite weak global cues over fears of a second wave of coronavirus outbreak but failed to sustain above its proven resistance of 10350 mark. Nifty50 has formed a doji candle today shows an indecisiveness among bears or bulls. Any move above 10400 and devisive closing above 10350 will lead the index7 towards 10600 levels as it could attract short covering. On the flip side, 10230 level can be considered as reliable support. 

🎯 News & Impact 🎯 

Major Results Today : Asian Paints

India very likely to announce another set of fiscal stimulus measures: Fitch. Positive for the market. 

🎯 UTI AMC gets SEBI's go ahead to launch IPO. 

🎯 Yes Bank : The Reserve Bank has asked Yes Bank not to pay interest on tier-II bonds due on June 29 as its capital levels are below the mandatory threshold. Negative for the stock. 

🎯 Hexaware : Board approved delisting of shares. 

🎯 Liberty Steel : Company to ramp up Rotherham steel mill capacity. 

🎯 PNC Infratech : Will not extend share purchase agreement with Cube Highways for 35% stake sale of their venture of the four-laning toll project in Uttar Pradesh.

🎯 8K Miles Software Services : US-based step-down subsidiary launched full-fledged operations of Healthcare Triangle Inc.

🎯 Mindteck : The company won two-year contract in the Middle East. 

🎯 Nesco : Promoter Patel Consultancy acquired 9,500 shares on June 18. Positive for the stock. 👍 

🎯 IOL Chemicals and Pharma: Promoter NCVI Enterprises acquired 14.18 lakh shares between June 8-17. Positive for the stock. 👍 

🎯 Mangalore Chemicals and Fertilizers : Promoter Adventz Finance acquired 16.15 lakh shares between June 17-18. Positive for the stock. 👍 

🎯 IndusInd Bank : Promoter IndusInd International Holdings acquired 1.39 lakh shares between June 18-19. Positive for the stock. 👍 

🎯 Shiva Cement : Promoter JSW Cement acquired 2.56 percent stake in company via off-market transaction on June 18, taking total stake to 59.31 percent. Positive for the stock. 👍

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Edited by Sharp. 

22nd June, 2020 Morning Brief

Market will open on a flat note today. 

Benchmarks in Japan, South Korea and Australia have opened lower this morning. Futures in the U.S. have recovered from losses of as much as 1%, despite California reporting record new cases of Covid-19 and infections in Florida rising more than the weekly average.

The S&P 500 ended lower on Friday after an up-and-down session as investors weighed spiking cases of COVID-19 and Apple Inc’s announcement of fresh store closures against anticipated stimulus and continued economic recovery. The Dow Jones Industrial Average fell 208.64 points, or 0.8%, to 25,871.46, the S&P 500 lost 17.53 points, or 0.56%, to 3,097.81 and the Nasdaq Composite added 3.07 points, or 0.03%, to 9,946.12.

The International Monetary Fund will release its new growth projections for 2020 on Wednesday.

India's forex reserves up by $5.94 billion to hit record $507.64 billion. 

Nifty50 will have a resistance above 10350 and near support at 10100 going ahead for this week. 

🎯 News & Impact 🎯 

🎯 IRCTC, Vodafone Idea, Indiabulls Housing among 12 stocks to be added to Nifty Midcap 100 from 26 June.

🎯 LIC Housing Finance Q4FY20 :

Net Interest Income down 8.2% to Rs 1,155 crore. 

Net profit down 39.2% to Rs 421.4 crore. 

Oil India: The Pollution Control Board, Assam (PCBA) has served a closure notice to state owned Oil India Ltd (OIL) to shut down all production along with drilling operations at its Baghjan oilfield in Tinsukia district of Assam.

🎯 IndiGo, SpiceJet : 

The steep hike in the prices of aviation turbine fuel (ATF) at major Indian cities, despite a fall in global crude prices, is set to hurt airlines. ATF accounts for about 35%-50% of airlines total costs. 

Negative for the stocks. 

🎯 Power Grid Q4FY20 :

Revenue up 5.2% to Rs 9,704 crore Net profit up 4.2% to Rs 3,182 crore Ebitda up 3.6% to Rs 8,072.3 crore Ebitda margin at 83.2% from 84.5%. 

🎯 BSE :

Exchange promoted India International Exchange (India INX) on June 21 said it has sought Sebi's approval for listing emerging investment vehicles -- REITs and InvITs -- and GDR on its platform.

Positive for the stock. 👍 

🎯 Piramal Enterprises : 

Acquires solid oral dosage drug production facility from G&W Laboratories in Pennsylvania. It has acquired 100% of the total equity for $17.5 million or approximately Rs 123 crore. The acquisition enables the company to handle potent formulations in North America.

Positive for the stock. 👍 

🎯 Cipla : 

Launches Cipremi (Remdesivir Lyophilised power for injection 100 mg), the only U.S. FDA approved Emergency Use Authorisation treatment for patients with severe Covid-19 symptoms. Gilead Sciences has extended a voluntary non-exclusive license to Cipla. The company has received approval from the Drug Controller General of India to manufacture and market the generic version of remdesivir.

Positive for the stock. 👍 

🎯 Glenmark : 

Gets manufacturing and marketing approval from India's drug regulator to launch the oral antiviral drug Favipiravir to treat mild to moderate Covid-19 patients in India. 

Positive for the stock. 👍 

🎯 Hindustan National Glass : Defaults on payment of interest and repayment of principal on loans from banks, financial institutions and unlisted debt securities. Amount of the default was Rs 1,000.98 crore.

Negative for the stock. 👍 

Max promoters to sell stake in financial and healthcare business to reduce debt

2 min read . 12:27 AM IST

🎯 Max Financial Services :

Promoters to sell stake in financial as well as हेल्थ are business. With the stake sales, the promoters aim to pay off all their debt, which stood at ₹3,400 crore in December 2019, the people cited above said on condition of anonymity. 

Positive for the stock. 👍 

🎯 Laurus Labs : 

Axis Finance releases pledge on 4.35% shares.

🎯 DB Corp : 

ICICI Prudential Mutual Fund releases pledge on 2.17% of the total equity. 

Positive for the stock. 👍 

🎯 Tourism Finance Corporation of India : 

Beacon Trusteeship acquires 9.69% of the total equity by way of encumbrance by way of pledge. 

Positive for the stock. 👍 

🎯 Forbes & Company : 

Promoter Shapoorji Pallonji revoked pledge of 25.83 lakh shares on June 17.

Positive for the stock. 👍 

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Edited by Edited by. 

19th June, 2020 Morning Brief

Market will open on a flat note today after yesterday's rally.

Asian markets have begun the final trading day of the week on a subdued note after a similar session on Wall Street with thin trading volumes.

The S&P 500 closed nominally higher on Thursday as investors weighed a resurgence in coronavirus infections and the possibility of a new round of shutdowns as well as data that suggested the US economy might not bounce back with quick, V-shaped recovery.

The Dow Jones Industrial Average fell 39.51 points, or 0.15%, to 26,080.1, the S&P 500 gained 1.85 points, or 0.06%, to 3,115.34 and the Nasdaq Composite added 32.52 points, or 0.33%, to 9,943.05. 

🎯 News & Impact 🎯 

Results Today : PNB, LIC Housing Finance, Cadila Healthcare 

🎯 IRB Infra Q4FY20 : Revenue down 18.7% to Rs 1,584.5 crore Net profit down 25.3% to Rs 154.8 crore Ebitda down 13.8% to Rs 655 crore Ebitda margin at 41.3% from 39% Exceptional gain of Rs 57.4 crore this quarter. 

🎯 Whirlpool of India Q4 : Profit at Rs 87.41 cr versus Rs 104.10 cr, revenue at Rs 1,353.62 cr versus Rs 1,355.15 cr YoY. Positive for the stock. 👍 

🎯 Reliance Industries : Saudi Arabia's The Public Investment fund to invest Rs 11,370 crore in Jio platforms for a 2.32% stake. The investment is made at an equity valuation of Rs 4.91 lakh crore and enterprise valuation of Rs 5.16 lakh crore. Jio platforms has now raised Rs 1,15,693.95 crore from 11 investments made by 10 investors. Positive for the stock. 👍  

🎯 Pharma Stocks: DGFT removes prohibition on export of hydroxychoroquine API and its formulations. Positive for the stocks.

🎯 Cipla : Enters into an agreement with Roche Pharma to provide better access to innovative medicines for patients in India. Cipla will be responsible for marketing and distribution of Roche Pharma’s trademark oncology drugs. 

🎯 DJ Mediaprint & Logistics : Company secured order for printing of club members stationery for the Membership Year 2018-19 covering 25 branches from LIC of India, Divisional Office, Madurai. 

🎯 DIC India : Company received first tranche of Rs 102.5 crore upon registration of land, from Godrej Properties.

🎯 Gujarat State Fertilizer : To discontinue manufacturing operations of fibre and polymers at its Vadodara unit. 

🎯 Apollo Pipes : Promoter Meenakshi Gupta acquired 1 lakh shares (0.76%) at Rs 325 per share. Positive for the stock. 👍 

🎯 Waterbase : Promoter KCT Management Services acquired 2.27 lakh shares (0.55%) at Rs 103.72 per share. Positive for the stock. 👍 

🎯 Uflex : Promoter Anshika Consultants released pledge of 2 lakh shares on June 15. Positive for the stock. 👍 

🎯 JSW Steel : Promoter JTPL Metal Traders created pledge of 40 lakh shares on June 15. Negative for the stock. 

🎯 JSPL : Promoters revoked pledge of 11.8 lakh shares between June 12-17. Positive for the stock. 👍 

🎯 Laurus Labs : Promoters revoked pledge of 46.5 lakh shares on June 17. Positive for the stock. 👍 

🎯 Adani Ports & SEZ : Promoter SB Adani Family Trust revoked pledge of 2.07 crore shares on June 17. Positive for the stock. 👍 

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Edited by Sharp. 

18th June, 2020 Morning Brief

Market will open on a negative note today after a volatile session witnessed yesterday.

Asian markets are retreating at the start of trade as investors continue to weigh a rise in Covid-19 cases in some parts.

The S&P 500 closed lower on Wednesday as news of spiking pandemic data and the prospect of a new round of economic lockdowns dampened investor optimism over signs of economic recovery.

The Dow Jones Industrial Average fell 170.37 points, or 0.65%, to 26,119.61, the S&P 500 lost 11.25 points, or 0.36%, to 3,113.49 and the Nasdaq Composite added 14.67 points, or 0.15%, to 9,910.53.

Again, Nifty50 witnessed a resistance at 10000 mark from where it turned back yesterday.

🎯 News & Impact 🎯

🎯 Pidilite Industries Q4FY20 : Revenue down 6% to Rs 1,545 crore Net profit down 33% to Rs 157.5 crore Ebitda up 8% to Rs 301 crore Ebitda margin expands to 19.5% from 17% Other income of Rs 14 crore this quarter as compared to Rs 56 crore in the base quarter Exceptional loss of Rs 33 crore this quarter Exceptional item pertains to impairment loss on plant and machinery at the Dahej Elastomer Project. 

🎯 Indraprastha Gas Q4FY20 : Revenue flat at Rs 1,552.5 crore Net profit up 12.4% to Rs 253.5 crore Ebitda up 13.8% to Rs 376.8 crore Ebitda margin at 24.3% from 21.5% Lower raw material costs aid margins Volumes in FY20 up 9% to 2,155 million scm. 

Positive for the stock. 

🎯 Muthoot Finance Q4FY20 :

Net Interest Income up 29.5% to Rs 1,580.6 crore Net profit up 59.2% to Rs 815.1 crore Loan Assets up 22% to Rs 41,611 crore Capital Adequacy Ratio in FY20 at 25.47% from 26.05%

Positive for the stock. 👍 

🎯 Welspun Corp :

Company posted a consolidated net profit of Rs 147.14 crore during the quarter ended March 31. The company had reported a Rs 149-crore net loss YoY. 

Positive for the stock. 👍 

🎯 Kanoria Chemicals :

The company will acquire 15.55% shares in subsidiary Kanoria Africa Textiles Plc., Ethiopia.

🎯 NTPC : 

Company said the first 150 MW unit of its Kameng hydropower project is commercially operational with the remaining three units of 150 MW each, totalling 450 MW power generation capacity of the plant which are expected to be commercially operational within this fiscal year in a staggered manner.

🎯 Karnataka Bank : 

Launches special health insurance policy with Universal Sompo General Insurance. The policy will cover uncertainties posed by Covid-19. One can avail health cover for Covid-19 at a premium of Rs 399 under this policy. 

🎯 Zee Entertainment Enterprises : Promoters created pledge of 20.6 lakh shares on June 11. 

Negative for the stock. 

🎯 Bodal Chemicals : 

Promoter Bhavin Patel released pledge of 24.75 lakh shares on June 16. 

Positive for the stock. 👍 

🎯 Adani Enterprises : 

Promoter SB Adani Family revoked pledge of 55 lakh shares on June 16. 

Positive for the stock. 👍 

🎯 Adani Ports & SEZ : 

Promoter SB Adani Family revoked pledge of 26 lakh shares on June 16. 

Positive for the stock. 👍 

🎯 Jubilant FoodWorks : 

Promoter Jubilant Consumer revoked pledge of 5 lakh shares on June 15. 

Positive for the stock. 👍 

🎯 Adani Transmission : 

Promoter SB Adani Family revoked pledge of 72 lakh shares on June 16. Positive for the stock. 👍 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

17th June, 2020 Morning Brief

Market will open with a cautious note today on IndiaChina tensions on the boarder after a volatile session witnessed yesterday.

Markets in Japan gave up some part of their Tuesday's 4% surge while benchmarks in South Korea too are retreating. Markets in Australia trade with gains.

Wall Street advanced on Tuesday as the prospect of additional stimulus and a record jump in retail sales suggested the U.S. economy could bounce back sooner than expected. 

After coming in at 16th spot in 2019, India has dropped out of Kearney's 2020 Foreign Direct Investment Confidence Index.

A Sebi panel on Tuesday suggested measures to strengthen markets watchdog's enforcement mechanism and improve the system of recovery of siphoned off money. 

Pidilite Industries, Indraprastha Gas, Muthoot Finance, REC and more will declare their Q results today.

Nifty has a upport at around 9700 and resistance at 10000 mark going ahead.

🎯 News & Impact 🎯 

Banking Stocks could be in focus today ahead of Supreme Court hearing on loan moratorium interest waiver on June 17.

🎯 HPCL Q4FY20 :

Revenue down 6.5% to Rs 66,154 crore. 

Net profit down 96.4% to Rs 26.8 crore. 

Ebitda loss of Rs 706.7 crore from Ebitda gain of Rs 1,863.4 crore. 

Exceptional loss of Rs 1,002.9 crore this quarter due to write-down of inventories. 

Negative for the stock. 

🎯 NMDC Q4FY20 :

Revenue down 12.5% to Rs 3,187.3 crore. 

Net profit down 75.8% to Rs 351.2 crore. 

Ebitda down 28.7% to Rs 1,492 crore. 

Ebitda margin narrows to 46.8% from 57.4%

Rs 771.3 crore paid as tax for earlier years which impacted net profit. 

🎯 Navin Fluorine Q4FY20 :

Revenue up 9.5% to Rs 276.6 crore. 

Net profit rises 7.7 times to Rs 272.7 crore. 

Ebitda up 33.3% to Rs 68.8 crore. 

Ebitda margin widens to 24.9% from 20.4%. 

Positive for the stock. 👍 

🎯 Bank of Maharashtra Q4 :

Profit at Rs 57.57 cr versus Rs 72.38 cr, revenue at Rs 1,022.5 cr versus Rs 999.93 cr YoY.

🎯 HDFC AMC : 

Promoter Standard Life to sell 60 lakh shares or 2.82% stake via Offer for Sale (OFS) at Rs. 2362 per share.

🎯 Aarti Drugs :

PTI reports that India may impose anti-dumping duty on Chinese anti-bacterial drug Ciprofloxacin Hydrochloride with a view to guard domestic industry from cheap imports.

Positive for the stock. 

🎯 Wipro : 

Has partnered with DocMagic for digital mortgage solutions.

🎯 Panacea Biotec : 

Board approved setting up a joint venture with U.S. based Refana for development, manufacturing and distribution of the Covid-19 vaccine.

🎯 Yes Bank :

The bank is considering a follow on public offer (FPO) to raise funds via equity.

Positive for the stock. 👍 

🎯 Adani Ports : 

Promoter SB Adani Family Trust revoked pledge on 43 lakh shares on June 15.

Positive for the stock. 👍

🎯 Nesco: 

Promoter Patel Consultancy acquired 12,500 shares on June 15. 

Positive for the stock. 👍 

🎯 Waterbase: Promoter KCT Management acquired 1.03 lakh shares on June 12. 

Positive for the stock. 👍 

🎯 Bajaj Auto : 

Promoter Deepa Bajaj acquired 25,000 shares between June 10-12.

Positive for the stock. 👍

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

16th June, 2020 Morning Brief

Market will open with a gap up today after yesterday's fall.

Asian markets are rebounding from their worst single-day drop in over three months after the U.S. Federal Reserve came to the rescue of investor sentiment yet again.

Wall Street closed higher on Monday following an announcement by the U.S. Federal Reserve regarding its corporate bond purchasing program that boosted investor confidence, which had been wavering amid a spike in new COVID-19 cases.

The Federal Reserve said on Monday it had opened registration for lenders interested in participating in its Main Street Lending Program, launching arguably the most complex program undertaken yet by the U.S. central bank to help keep the backbone of the economy from buckling under the strains of the coronavirus pandemic.

The program, targeted at companies that were in good shape before the pandemic but may now need financing to retain workers and fund operations, will offer up to $600 billion in loans through participating financial institutions to US businesses with up to 15,000 employees or with revenues up to $5 billion.

🎯 News & Impact 🎯 

Major Results Today : HPCL

🎯 Tata Motors Q4 : Loss at Rs 9,894.25 cr versus profit at Rs 1,117.5 cr, revenue at Rs 62,493 cr versus Rs 86,422 cr YoY.

🎯 Can Fin Homes Q4 : Profit at Rs 90.91 cr versus Rs 66.14 cr, revenue at Rs 528.85 cr versus Rs 462.93 cr YoY. Positive for the stock. 👍 

🎯 Bayer CropScience : Company has partnered with agri business division of ITC to extend the reach of its crop protection products through ITC's e-Choupal 4.0 platform. The partnership has commenced as a pilot project in Mysore in Karnataka and will gradually be expanded to other geographies across India.

🎯 Ind-Swift Laboratories : Company to launch API - Fexofenadine, an antihistamine drug in US market.

🎯 Jump Networks : US-based technology investment group to infuse substantial equity funds in company. Positive for the stock.  👍 

🎯 Lakshmi Vilas Bank : Signs preliminary, non-bindingg letter of intent with Clix Group in relation to the proposed amalgamation of the group with the bank. Under the non-binding intent, the proposed amalgamation is subject to completion of mutual due diligence in an exclusive window of 45 days, and will be subject to regulatory and other customary approvals.

🎯 JSW Steel : Promoter Sahyog Holdings released pledge of 1.04 crore shares on June 15.

🎯 Cyient : Promoter Suchaaritha Bodanapu acquired 20,000 shares on June 12. Positive for the stock. 👍 

🎯 Birlasoft : Promoters sold 2.54 lakh shares on June 9. Negative for the stock. 

🎯 SH Kelkar : Promoter Kedar Vaze acquired 3.2 lakh shares on June 12. Positive for the stock. 👍 

🎯 Varun Beverages : Promoter Vivek Gupta sold 11,000 shares on June 12. Negative for the stock.

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

15th June, 2020 Morning Brief

Market will open with a gap down after n outstanding pullback witnessed on Friday.

Asian markets have opened with declines after a tumultous last week as investors worry over a potential second wave of Covid-19 infections.

US stocks ended higher on Friday as bargain hunters stepped back into the market following sharp losses a day earlier. 

The Dow Jones Industrial Average rose 477.37 points, or 1.9%, to 25,605.54, the S&P 500 gained 39.21 points, or 1.31%, to 3,041.31 and the Nasdaq Composite added 96.08 points, or 1.01%, to 9,588.81.

🎯 News & Impact 🎯

Major Results Today : Tatamotors 

🎯 Eicher Motors Q4FY20 :

Revenue down 11.7% to Rs 2,208.2 crore. 

Net profit down 44.1% to Rs 304.3 crore. 

Ebitda down 37% to Rs 432.1 crore. 

Ebitda margin narrows to 19.6% from 27.4%

Volumes fell 20% to 1,74,999 units. 

🎯 Hindalco Industries Q4FY20 :

Revenue down 19.2% to Rs 9,992 crore. 

Net profit up 38.1% to Rs 326 crore. 

Ebitda up 25.7% to Rs 1,163 crore. 

Ebitda margin at 11.6% from 7.4%

Lower LME prices impacts India operations. 

Positive for the stock. 👍 

🎯 Grasim Industries Q4FY20 :

Revenue down 11.3% to Rs 19,901.5 crore. 

Net profit up 31.7% to Rs 1,505.8 crore. 

Ebitda down 16.7% to Rs 4,091.4 crore. 

Ebitda margin narrows to 20.6% from 21.9%. 

🎯 BHEL Q4FY20 :

Revenue down 51.3% to Rs 5,049.8 crore. 

Net loss of Rs 1,532.6 crore from net profit of Rs 680.7 crore. 

Ebitda loss of Rs 559.6 crore from Ebitda positive of Rs 1,385.9 crore. 

Ebitda margin at -11% from 13.4%

🎯 Geojit Financial Services Q4 :

Profit at Rs 18.75 cr versus Rs 6.06 cr, revenue at Rs 82.31 cr versus Rs 75.98 cr YoY. 

Positive for the stock. 👍 

🎯 Reliance Industries: 

TPG to invest Rs 4,546.8 crore in Jio Platforms for a 0.93% stake. Catterton will invest Rs 1,894.5 crore for a 0.39% stake in Jio Platforms. This was the ninth and the tenth investment in the company. Jio platforms has now raised Rs 1,04,326.95 crore so far.

Positive for the stock. 👍 

🎯 Dr Reddy's Laboratories : Announces the launch of Colchicine tablets, approved by the U.S. FDA. The product will be launched in the U.S. market.

Positive for the stock. 👍 

🎯 AstraZeneca Pharma : 

Italy, Germany, France and the Netherlands have signed a contract with AstraZeneca to supply European citizens with a vaccine against the coronavirus, Italy's health minister said on June 13.

Positive for the stock. 👍 

🎯 MCX :

Company gets SEBI nod for bullion, base metals index futures.

🎯 Power Finance Corporation : Clarifies that it executed an MoU on May 27 with the Madhya Pradesh Government, to facilitate the cooperation towards financing hydro-electric power projects and power components of 12 major irrigation projects on the river Narmada. The total cost of these 12 projects is estimated at Rs 22,000 crore.

🎯 Cadila Healthcare : 

Zydus has signed a non-exclusive agreement with Gilead Sciences for the manufacture and distribution of Remdesivir, which has been isued an Emergency Use Authorisation by the U.S. FDA to treat patients suffering from severe symptoms of Covid-19.

🎯 Wipro :

Company partnered with Citrix and Microsoft to drive business continuity for customers. 

🎯 HCC : 

Defaults on payment of Rs 728 crore worth of interest / repayment of principal on loans from banks / financial institutions and unlisted debt securities.

🎯 Lumax Auto : 

Puts the acquisition of the auto component busines of OK Play Group on hold due to the Covid-19 situation.

🎯 Tata Motors : 

Has signed an agreement to purchase the 50% shareholding of Jayem Automotives in JT Special Vehicles Pvt. Ltd. Post this assignment, JTSV will become a wholly-owned subsidiary of the company.

🎯 JSW Steel : 

Promoters revoke pledge of 2.02 crore shares between June 9-11.

Positive for the stock. 👍 

🎯 Adani Enterprises : 

Promoter SB Adani Trust revoked pledge of 96 lakh shares on June 11.

Positive for the stock. 👍 

🎯 Adani Ports : 

Promoter SB Adani Trust revoked pledge of 2.02 crore shares on June 11.

Positive for the stock. 👍 

🎯 JSW Energy : 

Promoter JSW Investments revoked pledge of 2.09 crore shares on June 10.

Positive for the stock. 👍 

🎯 Adani Transmission : 

Promoter SB Adani Trust revoked pledge of 95 lakh shares on June 10.

Positive for the stock. 👍 

🎯 Parag Milk Foods : Promoter Devendra Shah revoked pledge of 15.5 lakh shares on June 11.

Positive for the stock. 👍

🎯 IndusInd Bank : 

Promoter IndusInd International Holdings acquired 4 lakh shares between June 10-11.

Positive for the stock. 

🎯 Kotak Mahindra Bank : 

Promoter sold 3 lakh shares on June 11.

Negative for the stock. 

🎯 Apollo Tyres : 

Promoter PTL Enterprises acquired 4.6 lakh shares between June 9-11.

Positive for the stock. 👍 

🎯 Nesco : 

Promoter Chandle and Price acquired 19,388 shares between June 9-10.

Positive for the stock. 👍 

🎯 Aarti Industries : 

Promoter Jaya Gogri sold 63,000 shares between June 8-11.

Negative for the stock. 

🎯 Birlasoft : 

Promoter sold 17 lakh shares on June 9.

Negative for the stock. 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

11th June, 2020 Morning Brief

Market will open with negative bias after yesterday's volatile session.

Asian markets are declining this morning after the U.S. Federal Reserve projected a long road ahead to repair the damage caused by Covid-19.

The Fed has cut its benchmark short-term rate to near zero. Keeping its rate ultra-low for more than two more years could make it easier for consumers and businesses to borrow and spend enough to sustain an economy depressed by still-widespread business shutdowns.

The Dow and S&P 500 ended a choppy session lower on Wednesday after the Federal Reserve reassured investors of its support for the economy but projected a 6.5% decline in gross domestic product this year.

The Dow Jones Industrial Average fell 282.31 points, or 1.04%, to 26,989.99, the S&P 500 lost 17.04 points, or 0.53%, to 3,190.14 and the Nasdaq Composite added 66.59 points, or 0.67%, to 10,020.35.

🎯 News & Impact 🎯 

🎯 Pharma Stocks : Bloomberg News reports that a coalition of 51 attorney generals in the U.S. filed an antitrust complaint in the federal court alleging that key individual executives and manufacturers of dermatological, generic drugs engaged in a widespread conspiracy to artificially inflate and manipulate prices, reduce competition for generic drugs sold across the country. The complain mentions Taro, Myla, Teva, Glenmark etc.

Negative for the sector. 

🎯 Shriram Transport Finance Q4FY20

Net Interest Income up 1% to Rs 1,933.3 crore

Net profit down 70.1% to Rs 223.4 crore.

🎯 Shankara Building Products Q4FY20 :

Revenue up 11.6% to Rs 667.3 crore. Net profit up 7.1 times to Rs 11.3 crore. 

Ebitda up 75.5% to Rs 27.2 crore. 

Ebitda margins at 4.1% from 2.6%. Lower raw material costs aid margins. 

Retail revenue up 4% to Rs 365.1 crore.

Positive for the stock. 👍 

🎯 Mahanagar Gas Q4FY20 :

Revenue down 5% to Rs 753 crore

Ebitda up 14% to Rs 244 crore

Ebitda margin at 32.4% from 27%

Net profit up 25.6% to Rs 167 crore.

🎯 NTPC : 

Approved deferment of capacity charges of Rs 2,064 crore to discoms, to be payable without interest after the end of the lockdown period in three equal monthly installments.

Negative for the stock. 

🎯 Welspun Enterprises : 

Received endorsement agreement from NHAI for Haryana road project. Process of takeover of 8 laning in NH-1 has been completed.

🎯 IndusInd Bank : 

Promoter Indusind International Holdings acquired 5 lakh shares between June 8-9. 

Positive for the stock. 👍 

🎯 Quess Corp : 

Promoter Ajit Isaac acquired 17,678 shares on June 9. 

Positive for the stock. 👍 

🎯 Varun Beverages : 

Promoter Vivek Gupta sold 2,881 shares on June 9.

Negative for the stock. 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

10th June, 2020 Morning Brief

A gap up opening can be seen today after yesterday's fall.

Asian markets have opened with a negative bias in mid-week trade after benchmarks on Wall Street retreated. Concerns are emerging over whether the recent equity rally has gone ahead of fundamentals.

The S&P 500 and Dow fell on Tuesday, pausing after recent strong gains as focus shifted to the Federal Reserve, while the Nasdaq ended at an all-time high for a second straight day after briefly rising above the 10,000 mark for the first time. All eyes are on Fed meeting outcome whether it will cut the rates or not which will be declared today midnight IST. 

The Dow Jones Industrial Average fell 300.14 points, or 1.09%, to 27,272.3, the S&P 500 lost 25.21 points, or 0.78%, to 3,207.18 and the Nasdaq Composite added 29.01 points, or 0.29%, to 9,953.75.

🎯 NEWS & IMPACT 🎯 

Genral Insurance, Auto Stocks: The Insurance Regulatory and Development Authority of India (IRDAI) has withdrawn the long-term package cover of three to five years for Motor Own Damage for new cars and new two-wheelers from August 1.

Required average market capitalisation of public shareholding of the company concerned has been reduced to Rs 500 crore from Rs 1,000 crore by SEBI. 

🎯 Hero MotoCorp Q4FY20 : Revenue down 20.8% to Rs 6,238.9 crore. Net profit down 15% to Rs 620.7 crore. Ebitda down 38% to Rs 659.9 crore. Ebitda margin narrows to 10.6% from 13.6%. 

🎯 Yes Bank : Madhu Kapur withdraws suit against the lender. 

🎯 Bharti Airtel: Singapore arm increased its stake in Bangladesh-based Robi Axiata to 31.3% from 25%.

🎯 Minda Corp: German arm has filed for insolvency due to liquidity crisis. The move is expected to enhance company’s Ebidta by 2% and RoCE by 5%.

🎯 Equitas Holdings: Equitas Small Finance Bank is offering interest rate of 7% per annum on savings account having deposit between Rs 1 lakh to Rs 5 crore.

🎯 Adani Green Energy: Gautam Adani stated in a conference call that there is room to dilute 10-15% stake in the company and that some companies are in talks to buy stake in Adani Green Energy.

🎯 Wipro: Announced the expansion of its global strategic relationship with Amazon Web Services in the area of DevOps.

🎯 Varun Beverages : Promoter Ravi Kant Jaipuria and Sons sold 21 lakh shares (0.73%) at Rs 615 per share. Negative for the stock. 

🎯 Forbes & Company : Promoter Shapoorji Pallonji created pledge of 54.89 lakh shares on June 1. Negative for the stock. 

🎯 GMR Infra : Promoter GMR Enterprises released pledge of 1.24 crore shares on June 9. Positive for the stock. 👍 

🎯 Adani Ports and SEZ : Promoters revoked pledge of 28.25 lakh shares between June 4-8. Positive for the stock. 👍 

🎯 Adani Transmission : Promoter SB Adani Family Trust revoked pledge of 9 lakh shares on June 8. Positive for the stock. 

🎯 Adani Green Energy : Promoter Adani Trading Services revoked pledge of 1.6 crore shares on June 8. Positive for the stock.

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

9th June, 2020 Morning Brief

Market will open on a flat note today.

Asian stocks were set to climb on Tuesday as confidence in an economic recovery pushed the Nasdaq benchmark to a record high, although doubts about crude supply cuts were likely to keep oil prices under pressure.

The Nasdaq posted a record closing high on Monday, becoming the first of the major indexes to confirm a new bull market, while the S&P 500 ended in positive territory for the year as expectations for a swift recovery from a coronavirus-driven downturn increased.

The Dow Jones Industrial Average rose 461.46 points, or 1.7%, to 27,572.44, the S&P 500 gained 38.46 points, or 1.20%, to 3,232.39 and the Nasdaq Composite added 110.66 points, or 1.13%, to 9,924.75.

🎯 News & Impact 🎯 

Major Results Today : Hero Motocorp, Tatasteel

🎯 Titan Q4 : Profit at Rs 346.25 cr versus Rs 353.6 cr, revenue at Rs 4,711.50 cr versus Rs 4,888.77 cr YoY. 

🎯 Chalet Hotels Q4 : Profit at Rs 42.77 cr versus Rs 13.3 cr, revenue at Rs 227.35 cr versus Rs 269.86 cr YoY. Positive for the stock.

🎯 Gayatri Projects : Company received order of Rs 145.53 crore from State Water and Sanitation Mission in UP.

🎯 Affle (India) : Company through its subsidiary (“Affle”) announced the signing of definitive agreements to acquire full control of Appnext Pte. Ltd., Singapore and 100 percent IP of Appnext app discovery and recommendation platform with immediate effect.

🎯 Vedanta : The Ministry of Petroleum and Natural Gas has petitioned the Supreme Court against an arbitration award allowing the company along with Videocon Industries to recover $499 million instead of the $198 million capped by the government for the development of Ravva oil and gas fields in Rajasthan, according to updates on the Supreme Court website. THe case is scheduled to be heard next week.

🎯 Sun Pharma : Promoter Shanghvi Finance revoked pledge of 57 lakh shares on June 5. Positive for the stock. 👍 

🎯 JSPL : Promoters revoked pledge of 1 crore shares between June 3-5. Positive for the stock. 👍 

🎯 GATI : Promoter Mahendra Agarwal HUF invoked pledge of 75,000 shares on June 4 Olectra. Positive for the stock. 👍 

🎯 Olectra Greentech : Promoter LP Sashikumar released pledge of 5 lakh shares on June 2. Positive for the stock. 👍 

🎯 Max India : Promoter Max Ventures Investment Holdings released pledge of 9.5 lakh shares on June 4. Positive for the stock. 👍 

🎯 Apollo Tyres : Promoter PTL Enterprises acquired 11.15 lakh shares between June 3-5. Positive for the stock. 👍 

🎯 Nesco : Promoter Chandler and Price acquired 7,573 shares on June 5. Positive for the stock. 👍 

🎯 Alembic : Promoter Nirayu acquired 39.26 lakh shares on June 5. Positive for the stock. 👍 

🎯 Mindtree : Promoter sold 44,500 shares between June 4-6. Positive for the stock. 👍 

🎯 SH Kelkar : Promoter Kedar Vaze acquired 15.54 lakh shares on June 5. Positive for the stock. 👍 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

8th June, 2020 Morning Brief

Market will open with a gap up today following the global culture.

Asian markets have begun the new trading week with gains, boosted by a U.S. jobs report that surpassed expectations and boosted hopes of a quick economic rebound.

Wall Street surged on Friday after a strikingly upbeat May jobs report unexpectedly provided the clearest evidence yet that the US economy is headed for a quicker-than-anticipated recovery. The Nasdaq breached its all-time closing high reached in February. 

The Dow Jones Industrial Average rose 829.16 points, or 3.15%, to 27,110.98, the S&P 500 gained 81.58 points, or 2.62%, to 3,193.93 and the Nasdaq Composite added 198.27 points, or 2.06%, to 9,814.08.

🎯 News & Impact 🎯

Major Result Today : Titan

Results Updates :

🎯 Larsen & Toubro Q4FY20 : Revenue up 2.2% to Rs 44,245.3 crore. 

Net profit down 6.5% to Rs 3,197.1 crore. 

Ebitda down 3% to Rs 5,121 crore. Ebitda margin narrows to 11.6% from 12.2% Order inflow up 5% to Rs 57,785 crore Consolidated order book up 4% to Rs 3,03,857 crore. 

Positive for the stock. 👍 

🎯 Vedanta Q4FY20 :

Net loss of Rs 12,521 crore from net profit of Rs 2,615 crore. 

Revenue down 16% to Rs 19,755 crore. 

Ebitda down 26% to Rs 4,552 crore. Ebitda margin at 23% from 26.1% Exceptional loss of Rs 17,132 crore this quarter owing to impairments in its oil & gas, copper and iron ore business due to Covid-19. 

Negative for the stock. 

🎯 Divis Laboratories Q4FY20 :

Revenue up 10% to Rs 1,390 crore. Net profit up 33% to Rs 388 crore. Ebitda up 7% to Rs 444.5 crore. Ebitda margin at 32% from 32.8%. 

Positive for the stock. 👍 

🎯 Reliance Industries : 

Silver Lake and its co-investors will invest an additional Rs 4,547 crore in Jio Platforms, increasing its total stake in the company to 2.08% of the total equity or Rs 10,202 crore.

Positive for the stock. 👍 

🎯 Tata Motors : 

Bloomberg News reports that Jaguar Land Rover has raised a loan of $705 million from Chinese Banks.

🎯 ABM Knowledgeware : 

Company bagged Rs 27.61 crore Smart Kalyan Dombivali Corporation project.

Positive for the stock. 👍 

🎯 IndusInd Bank :

Bank informed the exchange that promoters plan to acquire additional shares of the bank from the open market. 

Positive for the stock. 👍 

🎯 Alembic : 

Promoter Nirayu acquired 39.26 lakh shares or 1.53% stake at Rs 174 per share.

Positive for the stock. 👍 

🎯 SH Kelkar : 

Promoter Kedar Vaze acquired 15.54 lakh shares or 1.1% stake at Rs 65 per share. 

Positive for the stock. 👍 

Sequent Scientific: Promoter Agnus Holdings acquired 1.28 crore share or 5.16% stake at Rs 86.95 per share.

Positive for the stock. 👍 

🎯 TCPL Packaging : 

Promoters released pledge of 38.26 lakh shares on June 5. 

Positive for the stock. 👍 

🎯 JSPL : Promoters released pledge of 89.6 lakh shares between June 1-2. 

Positive for the stock. 👍 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

5th June, 2020 Morning Brief

Market will open on with a gap up today after negative closing for yesterday after six consecutive days of gains. 

Asian stocks were set to hold tight ranges on Friday after a mixed Wall Street session and as In वहीestors awaited key U.S. jobs data while sustained hopes about a global economic recovery kept pressure on the safe-haven dollar.

The S&P 500 lost ground on Thursday as investors took profits in advance of Friday's jobs report, ending a four-day rally driven by rising economic sentiment. The Nasdaq joined the S&P 500 in negative territory, while the blue-chip Dow posted a nominal gain.

The Dow Jones Industrial Average rose 11.93 points, or 0.05%, to 26,281.82, the S&P 500 lost 10.52 points, or 0.34%, to 3,112.35 and the Nasdaq Composite dropped 67.10 points, or 0.69%, to 9,615.81. 

🎯 News & Impact 🎯 

Major Results Today : SBI, L&T

🎯 DLF Q4FY20 :                      Revenue down 32.2% to Rs 1,694.2 crore Net loss of Rs 1,858 crore from a net profit of Rs 436.2 crore Ebitda down 40.6% to Rs 316.7 crore Ebitda margin narrows to 18.7% from 21.3% Exceptional loss of Rs 330.7 crore in the current quarter. Exceptional provision of Rs 272 crore due to Covid-19. 

🎯 Reliance Industries : Abu Dhabi-based sovereign investor Mubadala Investment Company to invest Rs 9,094 crore in Jio Platforms. Investment to translate into 1.85% stake in Jio platforms. Deal values the company at Rs 4.9 lakh crore and an Enterprise Value of Rs 5.16 lakh crore.

🎯 Power Grid : The Department of Telecommunications in a revised assessment order has asked the company to pay Rs 13,613.66 crore as a license fee.

🎯 Lupin : The European Commission has granted marketing authorisation to the company and Mylan for Nepexto - a biosimilar to etanercept. The drug is used in the treatment of various forms of arthritis.

🎯 NIIT : The company's board has approved divesting its schools learning business to a strategic or financial partner through sale of its holding in its wholly-owned arm MindChampion Learning Systems or in any appropriate manner.

🎯 RITES : The company’s arm, Railway Energy Management has secured its largest mandate from the Indian Railways for handling, tendering, installation, supervision and managing power supply from 3 GW solar power plants to be set-up on vacant Indian Railways land.

🎯 HCL Tech : To transfer its software offerings to Google Cloud as part of expanding its strategic partnership with Google.

🎯 HDFC Life Insurance : Promoter Standard Life sold 4 crore shares (1.98%) at Rs 496.4 per share. Negative for the stock. 

🎯 Apollo Tyres : Promoter PTL Enterprises acquired 5.1 lakh shares between June 1-2. Positive for the stock. 👍 

🎯 Nesco : Promoter Chandler and Price acquired 26,885 shares between June 1-2. Positive for the stock. 

🎯 Aarti Industries : Promoter sold 99,000 shares between June 1-2. Negative for the stock. 

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Edited by Sharp. 

4th June, 2020 Morning Brief

Market will open on a flat note today after six day positive closings consecutively.

Asian markets continued to surge for the fourth straight day as investor optimism over a swift economic recovery from Covid-19 continues to persist.

Wall Street rallied broadly on Wednesday with the Nasdaq approaching record highs as signs of an economic recovery from mandated shutdowns helped investors look beyond US social unrest and pandemic worries.

The Dow Jones Industrial Average rose 527.24 points, or 2.05%, to 26,269.89, the S&P 500 gained 42.05 points, or 1.36%, to 3,122.87 and the Nasdaq Composite added 74.54 points, or 0.78%, to 9,682.91.

The Centre has started work on the privatisation of public sector banks (PSBs) in line with the disinvestment plans announced by Finance Minister Nirmala Sitharaman in Budget 2020. 

🎯 News & Impact 🎯

🎯 BPCL Q4FY20

Revenue down 7.7% to Rs 68,991 crore

Net loss of Rs 1,361 crore from net profit of Rs 1,261 crore

Ebitda loss of Rs 619 crore from positive Ebitda of Rs 2,703 crore

Exceptional loss of Rs 1,080 crore which is an inventory loss. 

Gross Refining Margin (GRMs) at $0.75 per barrel from $3.23 per barrel - the lowest since at least Q1FY12

Highest ever debt on books - up 58.7% to Rs 47,819 crore.

🎯 Aurobindo Pharma Q4FY20 :

Revenue up 16.4% to Rs 6,158 crore

Net profit up 45.2% to Rs 849.8 crore

Ebitda up 26.6% to Rs 1,342.3 crore

Ebitda Margin widens to 21.8% from 20%

Positive for the stock. 👍 

🎯 GAIL : 

Signs an accord for tri-generation projects with EESL. The 50-50 venture will involve natural gas-fired generators to produce electricity.

🎯 Persistent Systems : 

To accelerate and develop cloud solutions to customers along with IBM.

🎯 Chennai Petrochem : Board has recommended a proposal to Indian Oil Corporation for implementing the 9 MMTPA refinery project at Cauvery basin refinery through a joint venture at an estimated cost of Rs 28,983 crore.

🎯 HDFC Life Insurance : 

Promoter HDFC sold 2.6 crore shares (1.29%) at Rs 490.22 per share. 

Negative for the stock. 

🎯 Neogen Chemicals : 

Promoters Haridas Kanani and Beena Kanani sold 11.26 lakh shares (4.82%) at Rs 473.53 per share. 

Negative for the stock.

🎯 Alembic : 

Promoter Nirayu acquired 10.48 lakh shares between June 1-2. 

Positive for the stock. 👍 

🎯 Sagar Cements : 

Promoter RV Consulting Services acquired 25,000 shares on June 1. 

Positive for the stock. 👍 

🎯 Vaibhav Global : 

Promoter Rahim Ullah sold 1 lakh shares on June 1. 

Negative for the stock. 

🎯 Mindtree : 

Promoter NS Parthasarathy sold 1.43 lakh shares on June 2.

Negative for the stock.

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Edited by Sharp 

3rd June, 2020 Morning Brief

Market will open with a gap up today in continuation of prevailing rally.

Asian markets extended the rally in global equities for the third straight day on Wednesday. 

A late-session rally pushed Wall Street to solid gains on Tuesday as market participants looked past widespread social unrest and pandemic worries to focus instead on easing lockdown restrictions and signs of economic recovery. Futures on the Dow Jones are trading 100 points higher after the benchmark ended with gains of 1%

The Dow Jones Industrial Average rose 267.63 points, or 1.05%, to 25,742.65, the S&P 500 gained 25.09 points, or 0.82%, to 3,080.82 and the Nasdaq Composite added 56.33 points, or 0.59%, to 9,608.38.

🎯 News & Impact 🎯 

Major Results Today : Auropharma, BPCL

🎯 Britannia Q4 :

Profit at Rs 374.75 cr versus Rs 297.23 cr, revenue at Rs 2,867.7 cr versus Rs 2,798.96 cr YoY.

🎯 InterGlobe Aviation Q4 :

Loss at Rs 870.8 cr versus profit at Rs 595.8 cr, revenue at Rs 8,299 cr versus Rs 7,883 cr YoY.

🎯 Reliance Industries : Bloomberg News reports that Abu Dhabi’s Mubadala Investment is nearing a deal to invest about $1 billion into Jio Platforms. 

8

🎯 Lupin :

Company received approval for Meloxicam capsules, which are used to reduce osteoarthritis pain.

Positive for the stock. 

🎯 Minda Industries : 

NCLT approved the Scheme of Amalgamation of 4 wholly owned subsidiary companies with company itself.

🎯 Quess Corp :

Company completed additional acquisition of 25% equity in Terrier Security Services (India) from Heptagon Technologies; both are associate of Quess.

🎯 Syngene International :

Company tied up with HiMedia Laboratories to manufacture ELISA test kits for COVID-19.

🎯 Everest Organics :

Everest Organics developed and manufactured Oseltamivir, API - key active ingredient in prevention of influenza A and influenza B.

🎯 Axita Cotton :

Company received order for Indian organic raw cotton valuing $19,73,117 from Olam International, Singapore.

🎯 Kotak Mahindra Bank :

Uday Suresh Kotak sold 5,60,00,000 shares at Rs 1,240 per share.

🎯 Coromandel International : Promoter EID Parry India sold 58,50,000 shares at Rs 629.19 per share.

🎯 Aarti Drugs : 

Promoter Safechem Enterprises sold 10,000 shares on May 26. 

🎯 Apollo Pipes : 

Promoter Meenakshi Gupta acquired 50,022 shares between May 7-June 1. 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ 

Edited by Sharp. 

2nd June, 2020 Morning Brief

Market will open on a flat note today after making new high yesterday for the first time after 13th March. 

It's interesting to see how market will react over Moody's downgrades India's rating to BAA3, maintains negative outlook. 

Asian stocks were set to come under pressure following a dip in Wall Street futures as US President Donald Trump vowed to use force to end violent protests in American cities.

Equities shrugged off reports that Chinese officials had told agricultural companies to pause purchase of some U.S. farm goods, threatening the trade deal.

Futures on the Dow Jones are currently trading lower by 100 points after the gauge posted a modest advance overnight.

The Dow Jones Industrial Average rose 91.91 points, or 0.36%, to 25,475.02, the S&P 500 gained 11.42 points, or 0.38%, to 3,055.73 and the Nasdaq Composite added 62.18 points, or 0.66%, to 9,552.05.

🎯 News & Impact 🎯

Major Results Today :

Britannia, Indigo

🎯 Welspun Enterprises Q4FY20 : Revenue down 35.1% to Rs 470.7 crore Net profit up 3 times to Rs 90.7 crore Ebitda down 27.5% to Rs 65.2 crore Ebitda margin at 13.9% from 12.4%

May Auto Sales 

Hero MotoCorp: Total sales at 1,12,682 units. 

Eicher Motors: Total sales at 19,113 units for Royal Enfield while those for the Commercial Vehicle division (VECV) at 686 units. 

TVS Motor: Total sales at 58,906 units. 

Ashok Leyland: Total sales at 1,420 units. 

Atul Auto: Total sales at 410 units. SML Isuzu: Total sales at 16 units. 

🎯 Kotak Mahindra Bank : 

Founder and CEO Uday Kotak plans to sell 5.6 crore shares or 2.83% equity through a 100% secondary placement.

Negative for the stock. 

🎯 Tata Power : 

Acquired 51% stake in TP Central Odisha Distribution for Rs 178.5 crore. Government of Odisha will hold the remaining stake in the venture.

🎯 MOIL : 

Prices of different grades of Manganese Ore and other products reduced by 10% from June 1 as compared to the previous month. 

🎯 SBI Cards : 

27,000 new cards were issued from applications already in the pipeline at a rate of 1,000 cards per day.

🎯 IRCON International : 

Signs a Memorandum of Understanding (MoU) with National Investment and Infrastructure Fund (NIIF) and Ayana Renewable Power to explore and collaborate on opportunities in the solar energy sector. 

🎯 Ratnamani Metals and Tubes : 

Gets orders worth Rs 57 crore for steel tubes.

🎯 KEC International : 

To consider repurchase of NCDs issued in October 2016 on June 4. The NCDs are worth Rs 100 crore.

Positive for the stock. 👍 

🎯 SH Kelkar : 

Promoter Kedar Ramesh Vaze acquired 8.5 lakh shares (0.6%) at Rs 58.45 per share while HDFC MF sold 14.35 lakh shares (1.02%) at Rs 58.41 per share.

Positive for the stock. 👍 

🎯 Supreme Petrochem : 

Promoter acquired 5.34 lakh shares (0.55%) at Rs 161.65 per share.

Positive for the stock. 👍 

🎯 Sadbhav Engineering : 

Promoter Shantaben Patel created pledge of 10 lakh shares on May 22. 

Negative for the stock. 

🎯 Ajanta Pharma : 

Promoter Aayush Agrawal created pledge of 95,000 shares between May 27-28. 

Negative for the stock. 

🎯 Zuari Global : 

Promoters released pledge of 4.95 lakh shares on May 26. 

Positive for the stock. 👍