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. 👍 

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Edited by Sharp.