30th July, 2020 Morning Brief

Market will open on a positive note today after yesterday's volatile session which started on a positive note and ended with negativity after gaining some momentum from the day's low.

Asian markets are trading with modest gains today after the U.S. Federal Reserve signaled that more stimulus will be provided to boost the economy.

Federal Reserve keeps rate unchanged. The Fed announced no new policies in its statement. The central bank said it will also continue to buy about $120 billion in Treasury and mortgage bonds each month, which are intended to inject cash into financial markets and spur borrowing and spending. 

U.S. stocks closed higher on Wednesday, adding to gains after the Federal Reserve repeated a pledge to use its “full range of tools” to support the economy but cautioned that the outlook “will depend significantly on the course of the virus.”

The Dow Jones Industrial Average rose 160.29 points, or 0.61%, to 26,539.57, the S&P 500 gained 40 points, or 1.24%, to 3,258.44 and the Nasdaq Composite added 140.85 points, or 1.35%, to 10,542.94.

🎯 News & Impact 🎯 

Mindspace Business Parks REIT IPO subscribed 13 times on final day.

Major Results Today : Reliance Industries, HDFC, Dabur India., Tata Steel, etc.

🎯 Bharti Airtel Q1FY21 : Revenue up 1% to Rs 23,938.7 crore. Net loss widens to Rs 15,933.1 crore from net loss of Rs 5,237 crore. Ebitda up 2% to Rs 10,407 crore. Margins at 43.5% from 43% ARPU at Rs 157 from Rs 154. Incremental provision of Rs 10,744.4 crore for AGR dues. 

🎯 InterGlobe Aviation Q1FY21 : Revenue down 91.9% to Rs 766.7 crore Net loss of Rs 2,844.3 crore from net profit of Rs 1,203.1 crore Ebitdar loss of Rs 1,537.7 crore from Ebitdar profit of Rs 2,656.5 crore Biggest net loss since listing on weak demand, suspension of flights due to Covid-19. 

🎯 TVS Motor Q1FY21 : Revenue down 68% to Rs 1,431.7 crore Net loss of Rs 139.1 crore from net profit of Rs 142.3 crore Ebitda loss of Rs 48.8 crore from Ebitda gain of Rs 356 crore. 

GSK Pharma Q1FY21 Revenue down 17.7% to Rs 648.6 crore Net profit down 2.3% to Rs 110.8 crore Ebitda down 31% to Rs 114.1 crore Ebitda margin at 17.6% from 21% Other income of Rs 42.7 crore due to refund of income tax contributes to profit. 

🎯 Bombay Bumrah Q1 : Profit at Rs 464 crore versus Rs 244.5 crore, revenue at Rs 3,461.9 crore versus Rs 2,784.8 crore YoY. Positive for the stock. 👍 

🎯 Rail Vikas Nigam Q4 : Profit at Rs 247.34 crore versus Rs 191.4 crore, revenue at Rs 4,220.67 crore versus Rs 3,427 crore YoY. Positive for the stock. 👍 

🎯 Punjab National Bank : Punjab National Bank International Limited (PNBIL) has logged a big win in a UK High Court in its pursuit of around USD 22 million in unpaid loans. Positive for the stock. 👍 

🎯 Jindal Stainless : Has tied up with Maersk to optimise the flow of containerized exports and imports between Jaipur and Vizag Container Terminal. 

🎯 Praj Industries : The company along with the Automotive Research Association of India have entered into a Memorandum of Understanding to jointly drive application development of advanced biofuels that will find usage in industry and transportation. 

🎯 GMM Pfaudler : Gets approval to sign definitive documents with De Dietrich Process Systems India for the acquisition of their Glass Lined Equipment manufacturing facility in Hyderabad, Telangana.

🎯 Sadhana Nitrochem : Board approved bonus issue of 1 share for every 2 existing equity shares held. 

🎯 Laurus Labs : Promoter Satyanarayana Chava released pledge of 25 lakh shares on July 28. Positive for the stock. 👍 

🎯 GTPL Hathway : Promoter Anirudhsinh Jadeja released pledge of 5.62 lakh shares on July 22. Positive for the stock. 👍 

🎯 JSW Energy : Promoter Danta Enterprises released 39 lakh pledged. Positive for the stock. 👍

🎯 JSW Steel : Promoters Danta Enterprises released 9.25 lakh pledged shares and Glebe Trading released 4.5 lakh shares.

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Edited by Sharp.