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. 

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🎯 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. 

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Edited by Sharp.