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.