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.