11th September, 2020 Morning Brief

Market will open on a negative note today after a pullback as India, China foreign ministers agreed on quickly disengage border troops .

Asian markets have opened with losses on the Final trading day of the week as the selloff resumed in megacap technology shares on Wall Street. Markets are poised to decline for the second straight week.

US stocks closed lower after a sell off in heavyweight tech-related stocks resumed their decline because of elevated jobless claims and on expectation of inflated CPI data which will be released today. 

The Dow Jones Industrial Average fell 405.89 points, or 1.45 % to 27,534.58, the S&P 500 lost 59.77 points, or 1.76 % to 3,339.19 and the Nasdaq Composite dropped 221.97 points, or 1.99 % to 10,919.59.

🎯 News & Impact 🎯 

Major Results Today : IRCTC, BHEL, Adani Green Energy

🎯 Route Mobile : IPO subscribed 4.21 times on the second day of bidding.

🎯 Hindustan Aeronautics Q1FY21 : Revenue down 47.2% to Rs 1,736.7 crore. Net profit down 73.7% to Rs 148.7 crore. Ebitda down 54.7% to Rs 384.3 crore. Ebitda margin at 22.1% from 25.8%

🎯 Hindustan Copper Q1FY21 : Revenue up 41.9% to Rs 431.4 crore. Net profit up 39.9% to Rs 29.8 crore. Ebitda down 7.4% to Rs 86.4 crore. Ebitda margin at 20% from 30.7%. Inventory gains contribute to net profit. Positive for the stock. 👍 

🎯 Daawat / KRBL : India rice prices hit an 18-month peak as coronavirus strains export logistics. Positive for the stocks. 👍

🎯 Yes Bank : Bank says no merger plans with SBI, repays entire Rs 50,000 crore to RBI. Positive for the stock. 👍

🎯 Reliance Industries : Company says it does not comment on media speculation and cannot confirm or deny any transaction which may or may not be in the works what Bloomberg reported on Thursday that it is mulling a $20 billion stake sale in Reliance Retail to Amazon.

🎯 Granules India : Company gets US FDA approval for complex, attention deficit hyperactivity disorder drug. Positive for the stock. 👍 

🎯 National Fertilisers : Total fertiliser sale at 23.81 lakh MT between April-August 2020, a growth of 16% compared to the same period last year. Positive for the stock. 👍

🎯 Rashtriya Chemicals : Begins Methanol plant at its Trombay unit.

🎯 Vaibhav Global : Commissioned a 1MW solar PV power generation project in Rajasthan. 

🎯 ITI : The Army Static Switched Communication Network or ASCON has given its approval to ITI for a project for which it was declared the lowest bidder in 2017. The project is valued at Rs 7,796 crore. Positive for the stock. 👍 

🎯 Hexaware Tech : Promoter HT Global I.T. solutions released a pledge of 18.63 crore shares or 62.08% stake which was pledged to Deutsche Bank and six other lenders. Positive for the stock. 👍 

🎯 Alembic : Promoter Nirayu acquired 2.82 lakh shares on September 8. Positive for the stock. 👍  

🎯 ADF Foods : Promoter Bhavesh Thakkar sold 90,739 shares between September 8-9. Negative for the stock. 

🎯 Jamna Auto : Promoters acquired 2.8 lakh shares between September 7-9. Positive for the stock. 👍 

🎯 Trident : Promoter Trident Capital acquired 1.5 lakh shares on September 9. Positive for the stock. 👍 

🎯 Maruti Suzuki : Promoter Suzuki Motor Corporation acquired 2.84 lakh shares between September 8-9. Positive for the stock. 👍 

🎯 Man Infra: Promoter Manan Shah acquired 2 lakh shares on September 9. Positive for the stock. 👍

🎯 Zee Learn : 36 lakh pledged shares invoked. Negative for the stock. Positive for the stock. 👍 

🎯 Zee Media Corporation : 72 lakh pledged shares invoked. Positive for the stock. 👍 

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