5th August, 2020 Morning Brief

Market will open with gap up in continuation with yesterday's rally ahead of some positive announcements from RBI tomorrow.

Asian markets have begun the mid-week trade on a mixed note. Investors are mulling progress of stimulus talks in Washington and reports of plans to review the U.S.-China trade deal.

Wall Street ended higher after a choppy session on Tuesday, lifted by Apple and energy stocks but limited by declines in AIG and Microsoft while investors awaited more U.S. government stimulus to fight economic fallout from the COVID-19 pandemic.

The Dow Jones Industrial Average rose 0.62% to end at 26,828.47 points, while the S&P 500 gained 0.36% to 3,306.51. The Nasdaq Composite climbed 0.35% to 10,941.17.

🎯 News & Impact 🎯 

🎯 Tata Consumer Products Q1FY21

: Revenue up 13.4% to Rs 2,173.9 crore. 

Net profit up 88% to Rs 327.6 crore. 

Ebitda up 37.6% to Rs 482.7 crore. 

Ebitda margin at 17.8% from 14.7%

Exceptional gain of Rs 63 crore this quarter due to conversion of a JV company into a wholly-owned subsidiary. 

Positive for the stock. 👍 

🎯 Geojit Financial Services Q1 | Profit at Rs 24.56 crore versus Rs 4.01 crore, revenue at Rs 91 crore versus Rs 73.88 crore YoY. 

Positive for the stock. 👍 

🎯 Sun Pharma Advanced Research Company : As on June 30, the company’s current liabilities exceed current assets and it is in the process of raising funds for its operations.

🎯 SRF : Has capitalized and commissioned its BOPET film line in Hungary for its European arm for 80 million Euros.

🎯 SH Kelkar : Has initiated capex of 1.5 million Euros to enhance production capacity of its latest acquisition - Creative Flavours and Fragrance in Italy. The company had completed its acquisition on July 28.

🎯 Hinduja Global Solutions : U.K. subsidiary acquired additional 14.3% equity stake in HGS Digital LLC, U.S.A, in accordance with the purchase agreement entered into in March 2018. The company holds 71.33% stake in HGS digital.

🎯 PI Industries Q1FY21

Revenue up 40.6% to Rs 1,060.1 crore. 

Net profit up 43.2% to Rs 145.5 crore

Ebitda up 50.3% to Rs 229.2 crore. 

Ebitda margin at 21.6% from 20.2%

All numbers are consolidated and compared on a year-on-year basis.

Positive for the stock. 👍 

🎯 Emami : Promoter Raviraj Viniyog released pledge of 1.12 crore shares between July 31- August 3. 

Positive for the stock. 👍 

🎯 Surya Roshni : Promoters revoked pledge of 42 lakh shares on July 31. 

Positive for the stock. 👍 

🎯 JSW Energy : Promoter Danta Enterprises revoked pledge of 30.76 lakh shares on July 31.

Positive for the stock. 👍 

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Edited by Sharp.