1st Dec, 2020 Morning Brief

Market will open on a flat note today after a weekend and an attached holiday.

Futures on the Dow Jones are currently trading higher by 110 points. The index ended 0.9% lower on Monday.

World stock markets dipped on Monday to close a record-breaking month as the prospect of a vaccine-driven economic recovery next year and further central bank stimulus measures eclipsed immediate concerns about the spiking coronavirus pandemic.

The Dow Jones Industrial Average fell 271.73 points, or 0.91%, to 29,638.64, the S&P 500 lost 16.72 points, or 0.46%, to 3,621.63 and the Nasdaq Composite dropped 7.11 points, or 0.06%, to 12,198.74.

India's July-September quarter GDP prints came out better-than-expected, reaffirming that the signs of improvement in the economy were real. 

India October eight core industries growth at -2.5%

🎯 News & Impact 🎯 

🎯 Dr Reddy's Laboratories : To acquire select anti-allergy brands from Glenmark in Russia, Ukraine, Kazakhstan and Uzbekistan.

🎯 Indiabulls Housing Finance : Sold further portion of its stake in OakNorth Bank Plc worth Rs 93 crore.

🎯 TVS Motor : To acquire 100% stake in advanced fleet management solutions provider Intellicar Telematics for a cash consideration of Rs 15 crore.

🎯 HCC : Hindustan Construction Company, in a Joint Venture with Vensar Constructions has been awarded two separate contracts worth Rs 236 crore from the North East Frontier Railway. HCC's share in the JV stands at 55%.

🎯 India Grid Trust : Signs share purchase agreement to acquire 74% stake in Parbati Koldam Transmission from Reliance Infrastructure.

🎯 Unichem Labs : Company received USFDA approval for Atenolol & Chlorthalidone tablets used to treat hypertension, lower blood pressure.

🎯 Glenmark Pharma : Company to divest select anti-allergy brands to Dr Reddy’s in Russia and Ukraine.

🎯 Gufic Biosciences : Granted patent by the Eurasian patent office for invention of a 'freeze dried parenteral composition of tigecycline and process for preparation thereof. Tigecycline is a tetracycline antibiotic medication used for a number of bacterial infections and is used to treat certain serious infections including community acquired pneumonia.

🎯 Reliance Capital : Company has defaulted on interest payment on term loans of HDFC Ltd and Axis Bank as on October 31, 2020.

🎯 SRF : The company's resin plant, set-up in Thailand by its wholly-owned subsidiary has been commissioned and capitalised at a cost of $19 million. 

🎯 Premier Explosives : Wins contract worth Rs 14 crore from Ministry of Defence for supply of 26 mm Chaffs.

🎯 Finolex Cables : Makes an addition to its portfolio with the launch of anti-bacteria fans.

🎯 Warren Tea : Company disposed of one of its real estate property Suvira House in Kolkata.

🎯 Max Financial Services : IRDAI approves transfer of 39 crore equity shares constituting 20.57% of the paid-up equity share capital of Max Life Insurance Company Limited held by Mitsui Sumitomo Insurance Company Limited to Max Financial Services Limited in exchange for issuance of 7.54 crore equity shares of the parent of Rs 2 each at a price of Rs 565.11 on a preferential allotment basis, constituting 21.87% of issued and paid-up share capital.

🎯 OMDC : Gets order from the Steel & Mines department of the Government of Odisha, allowing the company to dispose stock from its Bhadrasahi Iron & Manganese mining lease over 998.7 hectares.

🎯 ICICI Lombard : Gets in-principle approval to scheme of amalgamation with Bharti Axa for its general insurance business.

🎯 Healthcare Global : Enters into a share purchase agreement with Dr. Kamini Rao and her family members to acquire 49%stake in BACC Health Care, making it the wholly-owned subsidiary of the company.

🎯 VA Tech Wabag : Incorporates new subsidiary 'Kopri Bio Engineering Pvt. Ltd.' to carry out the business of manufacturing, processing, owning, operating and maintaining seqage treatment plant among other businesses.

🎯 Bombay Rayon Fashions : Company entered into a business transfer agreement with subsidiary BRFL Textiles for slump sale of its Tarapur Undertaking.

🎯 Vipul : Company entered into an agreement to disinvest its 49 percent stake in subsidiary Vipul Lavanya Developers.

🎯 Arvind : Promoters sold 4.26 lakh shares between November 26-27. 

Negative for the stock. 

🎯 Ajmera Realty : Promoter ARIIL Trust acquired 6.33 lakh shares on November 26. 

Positive for the stock. 👍🏻

🎯 Filatex India : Promoter Vrinda Bhageria acquired 7 lakh shares on November 24.

Positive for the stock. 👍🏻

🎯 JTL Infra : Promoter entity Jagan Industries sold 4.01 % stake in company via open market transaction.

Negative for the stock. 

🎯 Mangalore Chemicals & Fertilizers : Promoter Zuari Global bought 2 lakh shares between November 24-25. 

Positive for the stock. 👍🏻

🎯 Ashapura Minechem : Promoter Ashapura Industrial Finance acquired 50,000 shares on November 25.

Positive for the stock. 👍🏻

🎯 Surya Roshni : Promoter Surya Roshni Employees Welfare Trust acquired 21,000 shares between November 23-24. 

Positive for the stock. 👍🏻

🎯 UPL : Promoter Uniphos Enterprises acquired 47,100 shares between November 24-25.

Positive for the stock. 👍🏻

🎯 Action Construction Equipment : Promoter Vijay Agarwal acquired 38,500 shares between November 23-25. 

Positive for the stock. 👍🏻

🎯 Tata Steel Long Products : Promoter Tata Steel sold 82,000 shares on November 26.

🎯 JSW Steel : Promoter JSW Techno Projects Management created a pledge of 1.06 crore shares on November 24. 

Negative for the stock. 

🎯 Motherson Sumi : Promoter Samvardhana Motherson International revoked pledge of 2.45 crore shares on November 24.

Positive for the stock. 👍🏻

🎯 Adani Ports & SEZ : Promoters Gautam Adani and Rajesh Adani created a pledge of 31.34 lakh shares on November 26. 

Negative for the stock. 

🎯 JSW Energy : Promoters JSW Investments and Indusglobe Multiventures created a pledge of 1.55 crore shares on November 24.

Negative for the stock. 

🎯 Future Retail : Promoter Future Corporate Resources invoked a pledge of 2.94 crore shares on November 24. 

Positive for the stock. 👍🏻

🎯 Solara Active Pharma Sciences : Promoter Pronomz Ventures invoked a pledge of 3.57 lakh shares on November 24.

Positive for the stock. 

Edited by Sharp. 

25th November, 2020 Morning Brief

Market will open on a positive note today after making new highs on the Indian indices with global firmness and ahead of positivity on DOW Futures in the morning today. 

Mid-week trading has begun on a positive note for Asian equities. This after U.S. markets climbed to fresh records with cyclical sectors continuing to see inflows.

Futures on the Dow Jones are trading higher by 140 points.

U.S. stocks rallied on Tuesday and the Dow breached the 30,000 level for the first time, as investors anticipated a 2021 economic recovery on coronavirus vaccine progress and the formal clearance for President-elect Joe Biden’s transition to the White House.

The Dow Jones Industrial Average rose 454.97 points, or 1.54%, to 30,046.24, the S&P 500 gained 57.82 points, or 1.62%, to 3,635.41 and the Nasdaq Composite added 156.15 points, or 1.31%, to 12,036.79.

US consumer confidence fell more than expected in November likely as a widespread surge in new COVID-19 infections and business restrictions outweighed encouraging news on vaccines. 

🎯 News & Impact 🎯

🎯 Muthoot Finance : RBI refuses the company's request for a No Objection Certificate to acquire IDBI Capital Markets & Securities, IDBI Trustee & IDBI Asset Management.

Negative for the stock. 

🎯 Lasa Supergenerics : Bombay High Court restrains competitor from manufacturing Albendazole. It has also granted other reliefs to the company in the patent infringement case, until the disposal of the suit.

🎯 Sreeleathers : Board approves buyback of up to 20 lakh shares worth Rs 32 crore.

🎯 IRB Infra : Gets completion certificate from competent authority for Agra-Etawah Bypass BoT project.

🎯 Warren Tea :

Company decided to dispose of one of its tea estates namely Rupai Tea Estate located at Doom Doorna, Assam.

🎯 HFCL : Promoter entity MN Ventures acquired additional 5 lakh shares in company. 

🎯 Archidply Industries : Promoter entity Assam Timber Products sold 1 lakh equity shares in company via open market.

🎯 JSW Steel : Company acquired balance 26.45 percent of the issued and paid-up share capital of JSW Vallabh Tinplate. 

🎯 Ajanta Pharma : Promoter Aayush Agrawal created pledge of 1.2 lakh shares on November 23.

Negative for the stock. 👎🏻

🎯 Asian Granito : Promoters created pledge of 3.38 lakh shares between November 19-20.

Negative for the stock. 👎🏻

🎯 JSW Energy : Promoter Glebe Trading created pledge of 1.1 crore shares on November 20.

Negative for the stock. 👎🏻

🎯 Adani Green Energy : Promoter Adani Trading Services revoked pledge of 1.1 crore shares on November 23.

Positive for the stock. 👍🏻

23rd November, 2020 Morning Brief

Market will open with a gap-up today amid mixed global cues.

US stocks closed lower on Friday as investors wrestled with fiscal stimulus developments, concerns over a lengthy rollout of vaccines, and a growing number of state-level shutdowns to combat the spiraling COVID-19 pandemic.

The Dow Jones Industrial Average fell 219.95 points, or 0.75%, to 29,263.28, the S&P 500 lost 24.22 points, or 0.68%, to 3,557.65 and the Nasdaq Composite dropped 49.74 points, or 0.42%, to 11,854.97.

🎯 News & Impact 🎯 

🎯 Doors could be finally open to large business houses to launch banks. 

Positive for the market. 

🎯 Finance Commission likely to recommend doubling of public health expenditure by FY24. 

Positive for the sector stocks. 

🎯 PNB : 

RBI imposes over Rs 5.78 crore fine on six entities including PNB, Sodexo, PhonePe. 

🎯 BEML : Wins orders worth Rs 501 crore from the DMRC for additional 12 trainsets of six cars each to operate on line 2B and 7 of the Mumbai Metro project. 

🎯 Reliance Industries : CCI has approved acquisition of retail, wholesale, logistics and warehousing businesses of the Future Group by Reliance Retail Ventures and Reliance Retail and Fashion Lifestyle.

🎯 Bharti Airtel : Enters into an agreement to acquire stake in Avaada MHBuldhana Pvt. Ltd. - a Special Purpose Vehicle formed for the purpose of owning and operating the Captive Power Plants. The company will acquire 5.2% stake for an overall consideration of Rs 4.55 crore.

🎯 Petronet LNG : Signs on-binding MoU with the Ministry of Petroleum & Natural Gas with an objective to foray into 'Green Energy and Bio Fuels' and for setting up of compressed Bio Gas plants under Sustainable Alternative Towards Affordable Transportation (SATAT) initiative of the Government of India.

🎯 Hatsun Agro : The Industries and Commerce ministry of the Government of Telangana has agreed to provide various subsidies for an amount not exceeding Rs 25 crores to the company for setting up an Ice Cream plant in Govindapur.

🎯 Fineotex Chemicals : Completes the acquisition of a 4 acre plant in Ambernath in Maharashtra. 

🎯 Lemon Tree Hotels : Opens 61-room hotel in Jhansi.

🎯 Bharat Dynamics : First heavy weight Torpedo - Varunastra was delivered to the Indian Navy. The company is also the production agency for the Astra air-to-air missile system and has commenced manufacturing of these missiles.

🎯 Zee Media : Promoter ARM Infra & Utilities reduced stake to 9.06% from 11.71% on November 18.

🎯 SREI Infra Finance : RBI has appointed auditor to conduct special audit into the books of of the company and it’s arm SREI Equipment Finance.

🎯 Tube Investment : CG Power, Tube Investments and lenders of CG Power have executed the requisite binding agreements for one-time settlement and restructuring of funded facilities and guaranteed debt of CG Power. 

🔹Punjab & Sind Bank: Board approves offering, issuing, creating and allotting equity shares of up to Rs 5,500 crore to the Government of India on a preferential basis.

🎯 Fortis Healthcare : SEBI issues showcause notice to the company with respect to the matter relating to alleged diversion of funds from the company by its erstwhile promoters.

🎯 Astron Paper and Board Mill : Promoter Asian Granito released pledge of 10 lakh shares on November 19. 

🎯 Sun Pharma : Promoter Shanghvi Finance created pledge of 41 lakh shares on November 12.

🎯 Uflex : Promoter Flex International released pledge of 1.75 lakh shares on November 19.

20th November, 2020 Morning Brief

Market will open on a flat note today after a negative session yesterday.

Asian markets are mixed on the final trading day of the week. Benchmark indices in Japan are declining, while those in South Korea and Australia trade with modest gains.

Tech shares led U.S. markets higher overnight. Stocks rallied while the dollar fell on Thursday, and oil settled lower but rose after hours following a report that US lawmakers may restart negotiations on economic stimulus, which lifted gloom that had persisted through most of the global day.

The Dow Jones Industrial Average rose 44.81 points, or 0.15 percent, to 29,483.23, the S&P 500 gained 14.08 points, or 0.39 percent, to 3,581.87 and the Nasdaq Composite added 103.11 points, or 0.87 percent, to 11,904.71.

Dow Futures are trading down by more than 200 points. U.S. futures are declining after Treasury Secretary Steven Mnuchin and the U.S. Federal Reserve publically disagreed over whether to extend the pandemic programs. Also, US jobless claims increase to 742,00 as pandemic worsens. 

🎯 News & Impact 🎯

Listing today : Gland Pharma 

🎯 Alkem Labs : Company gets tentative US FDA nod for Chlordiazepoxide Hcl and Clidinium Bromide used to help treat stomach/intestinal disorders. 

🎯 Reliance Industries : Reliance Retail Ventures has received a total of Rs 47,265 crore from 9 financial partners and allotted 10.09% stake and has completed the current phase of raising funds.

🎯 Bharti Infratel / Idea : Merger of Indus Towers into the company has been completed. Vodafone Idea has received cash worth Rs 3,760 crore for its 11.5% shareholding in Indus. Positive for Idea.

🎯 Infosys : The company's arm 'Simplus' has announced a vaccine management solution aligned with salesforce work.com for vaccines.

🎯 Apollo Hospitals : Announces collaboration with Tata Medical and Diagnostics to introduce Covid-19 testing across India.

🎯 Mphasis : Acquired data engineering and consultancy company Datalytyx for 13.3 million pounds.

🎯 Wipro : Company has been selected as Dow Jones Sustainability World Index (DJSI) member for the 11th consecutive year.

🎯 Syngene International : Signs five-year strategic collaboration with Deerfield Discovery and Development Corporation, where 3DC has chosen Syngene as a key execution partner for a developing portfolio of molecular entities, spanning multiple therapeutic areas and modalities.

🎯 Emami : Entered into home hygiene products segment with the launch of Emasol brand. Products include disinfectant floor cleaner, toilet cleaner, sanitizer, dish wash gel and bathroom cleaner.

🎯 Modison Metals : Promoter entity Modison Copper Pvt Ltd increased stake in the company to 1.41 percent from 1.26 percent earlier.

🎯 UPL : Promoter entity Uniphos Enterprises increased stake in the company to 5.090 % from 5.085 % earlier.

🎯 HSIL : Company further acquired 3,60,936 equity shares of itself at Rs 104.63 per share on the NSE.

🎯 Max Financial Services : Promoter entity Max Ventures Investment Holdings Pvt Ltd pledged 9.25 lakh equity shares of the company.

🎯 SBI : Bank has entered into MoU with Luxembourg Stock Exchange to promote ESG (Environmental, Social, and Corporate Governance) and green finance. With this Mou, LuxSE will create a sustainable environment for issuers, asset managers, and investors in terms of ESG focused funds and bonds.

🎯 Himadri Speciality Chemicals : Promoter Himadri Credit and Finance sold 54.24 lakh shares (1.30%) at Rs 42.59 per share.

🎯 Uflex : Promoter Flex International released pledge of 1.75 lakh shares on November 18.

🎯 Max Financial Services : Promoter Max Ventures Investment Holdings created pledge of 9.25 lakh shares on November 18.

Edited by Sharp. 

18th November, 2020 Morning Brief

Market will open on a negative note today after making new highs on the Indian indices yesterday.

U.S. stocks retreated from record closing highs on Tuesday, ending lower as surging COVID-19 cases, the growing threat of a fresh round of economic lockdowns and weak retail sales data dampened the euphoria caused by potential vaccine breakthroughs.

The Dow Jones Industrial Average fell 167.09 points, or 0.56%, to 29,783.35, the S&P 500 lost 17.38 points, or 0.48%, to 3,609.53 and the Nasdaq Composite dropped 24.79 points, or 0.21%, to 11,899.34. 

🎯 News & Impact 🎯

Goldman Sachs projects India GDP to shrink 10.3%, less than September forecast, in FY21. 

Euro zone economy likely already in double-dip recession - Reuters poll. 

🎯 Alkem Labs : 

Company gets US FDA nod for eczema drug Tacrolimus.

🎯 Aurobindo Pharma : Company gets US FDA nod for Phenylephrine Hydrochloride used to relieve nasal discomfort caused by colds and allergies.

🎯 Lakshmi Vilas Bank : The RBI has placed the lender under moratorium for a month till December 16. Deposit withdrawals capped at Rs 25,000. RBI outlines scheme to merge the lender's operations with DBS Bank India, which will bring in additional capital of Rs 2,500 crore upfront. The fund infusion, on approval of the scheme, will be done through existing resources of DBS to support the amalgamation. DBS Bank India is a subsidiary of DBS Bank, Singapore.

🎯 DLF : Recognized as an index component of the Dow Jones Sustainability Indices in emerging markets category.

🎯 Wipro : IT services major said its shareholders have approved its up to Rs 9,500 crore share buyback plan.

🎯 Virinchi : Company incorporated a wholly owned subsidiary Company 'Virinchi Capital Private Limited' whose main business activity will be to provide web & mobile app based financial intermediary services to individuals & companies as per RBI norms.

🎯 Nippon Life India AMC : Has made submission to the exchanges with respect to the re-classification of Reliance Capital from the ‘Promoter and Promoter Group’ category to ‘Public’ category, after receiving approval from shareholders and SEBI.

🎯 IIFL Securities : To consider share buyback proposal on November 20.

🎯 IRCTC : Cancelled running of two Tejas Express trains due to low occupancy levels owing to Covid-19.

🎯 PTC India : Aditya Birla Sun Life Mutual Fund reduced its stake to 3.42% from 5.46% on November 12.

🎯 Greaves Cotton : Promoter Karun Carpets acquired 97,000 shares between November 13-14.

Positive for the stock. 👍🏻

🎯 HSIL :

Company acquired further 6.17 lakh shares of itself at Rs 100.41 per share on the NSE. 

🎯 Zee Media : Promoter 25FPS Media sold 1.29 crore shares on November 12.

Negative for the stock. 

🎯 JSW Energy : Promoters revoked pledge of 33.8 lakh shares between November 12-13.

Positive for the stock. 👍🏻

🎯 JSW Steel : Promoters revoked pledge of 32.9 lakh shares on November 12. 

Positive for the stock. 👍🏻 

🎯 Ajanta Pharma : Promoter Ravi Agarwal released pledge of 9.7 lakh shares between November 12-13.

Positive for the stock. 👍🏻

🎯 Max Financial Services : Promoter Max Ventures Investment Holdings created pledge on 4 lakh equity shares.

Negative for the stock. 

Edited by Sharp. 

17th Nov. 2020 Morning Brief

Market will open with a gap-up opening today after a positive closings all over the globe on yesterday. 

Asian markets are little changed in early trade this morning as the rally that propelled them to a record high took a pause.

Futures on the Dow Jones are currently trading lower by 40 points. The index ended 1.6% higher on Monday. 

WPI inflation at 8-month high of 1.48% in October which may eliminates the hopes for further interest rate cut by RBI. 

🎯 News & Impact 🎯 

Indian economy may be recovering faster than anticipated: Oxford Economics

DIPAM signs pact with World Bank for advising on CPSE asset monetization. 

Moderna says its vaccine is 94.5% effective in preventing COVID-19.

Government seeks higher dividends from state-run companies: Report

India's forex reserves surge $7.78 billion to lifetime high of $568.494 billion. 

🎯 BPCL : Divestment Secretary Tuhin Kanta Pandey tweeted that several EoIs were received for the company's proposed stake sale. Bloomberg News reported that bids were received from global as well as local players.

Positive for the stock. 

🎯 Wipro : Announces strategic partnership with SNP SE to help customers accelerate their enterprise transformation journey.

🎯 Reliance Industries : Reliance Retail has acquired approximately 96% stake in Urban Ladder for Rs 182.12 crore.

🎯 PVR : Launched a new single screen cinema in Lucknow, and opened three new screens in Faridabad.

🎯 Larsen & Toubro: Has emerged as the lowest bidder for a Rs 3,200 crore project to build a road bridge over the Brahmaputra river. 

🎯 NBCC : Received total work orders worth Rs 1,165.5 crore in October.

🎯 Oil India : 

Company says blowout at the company's Baghjan well in Assam has been doused successfully.

🎯 Future Consumer : Has defaulted on payment of interest on NCDs worth Rs 13.88 crore. It had sought deferment for payment of interest due on NCDs up to November 15, 2020.

🎯 Great Eastern Shipping :

The company signed a contract to buy a secondhand capesize bulk carrier. The 2014 Philippines built vessel is expected to join the company's fleet in H2 FY21.

🎯 Kalpataru Power Transmission :

Company successfully commissioned Kohima-Mariani Transmission Ltd.

🎯 Pioneer Embroideries :

Pioneer E-Com Fashions LLP acquired 10,34,766 equity shares in company at Rs 22 per share on the NSE.

Edited by Sharp. 

13th November, 2020 Morning Brief

Market will open on a negative side today after a small correction experienced yesterday.

Wall Street ended lower by more than a percent on Thursday as U.S. coronavirus infections surged and investors weighed the timeline for the mass rollout of an effective vaccine. US weekly jobless claims drop to seven-month low. 

The Dow Jones Industrial Average fell 1.08% to end at 29,080.17 points, while the S&P 500 lost 1.00% to 3,537.01. The Nasdaq Composite dropped 0.65% to 11,709.59.

Oil prices fell in early trade on Friday as a spike in the number of COVID-19 infections raised fears for the global economy and near-term fuel demand, but remained on track for a second straight weekly gain amid hopes for a vaccine.

India September IIP at 0.2% against -8% in August. 

India October retail inflation at 7.61% against 7.27% in September. 

🎯 News & Impact 🎯

Major Results today : ONGC, Tata Steel. 

🎯 Eicher Motors : Company reported profit at Rs 343.3 crore in Q2FY21 against Rs 572.7 crore, revenue declined to Rs 2,133.6 crore from Rs 2,192.5 crore YoY. 

🎯 Sun TV Network :Company reported profit at Rs 335.1 crore in Q2FY21 compared to Rs 368.7 crore, revenue dropped to Rs 768.7 crore from Rs 803.9 crore YoY.

🎯 Grasim Industries : Company reported lower standalone profit at Rs 360.2 crore in Q2FY21 against Rs 526.5 crore, revenue declined to Rs 3,438.2 crore from Rs 4,795.1 crore YoY. Board approved sale of fertiliser operations to Indorama for Rs 2,650 crore. 

Board approves sale of its fertiliser business to Indorama India. The sale will be done on a slump sale basis for a cash consideration of Rs 2,649 crore. The fertiliser business contributed to 3.45% of the total consolidated revenue. The company has also revised its capex guidance for FY21 upwards to Rs 1,852 crore. Positive for the stock. 

🎯 Reliance Industries : Entered into agreement to make a capital contribution of $50 million in Breakthrough Energy Ventures. The capital contribution commitment of $50 million constitutes 5.75% of the size of the fund contemplated at present. The said investment will be made in tranches over the next 8-10 years. The transaction is subject to approval from Reserve Bank of India. Positive for the stock. 👍🏻

🎯 Dr. Reddy's Lab : Announced the launch of Succinylcholine Chloride Injection in the U.S. market. Positive for the stock. 👍🏻

🎯 Biocon : Company gets US FDA nod for eczema drug Tacrolimus. Positive for the stock. 👍🏻

🎯 Sun Pharma : Taro gets US FDA nod for pneumonia drug, Clindamycin Phosphate. Positive for the stock. 👍🏻

🎯 PNC Infratech : CARE Ratings upgraded long-term banking facilities worth Rs 1,700 crore to CARE AA from CARE AA-, with outlook remaining stable.

🎯 Future Lifestyle Fashions : CRISIL downgraded long-term bank facilities and NCDs to CRISIL B from CRISIL BB, with rating watch with negative implications remaining unchanged due to delay in servicing of interest and principal due on November on the company’s NCDs.

🎯 Camlin Fine Sciences : Board has approved setting up of an additional plant at Dahej with production capacity of 6,000 metric ton for manufacturing of ethyl vanillin and allied products for Rs 135 crore.

🎯 Infibeam Avenues : To acquire 33.3% stake in So Hum Bharat Digital Payments for Rs 18 crore. Positive for the stock. 👍🏻

🎯 Sadbhav Infra Projects : NHAI accepts arbitration award amounting to Rs 44 crore for the company's unit Dhule Palesner Tollway.  

🎯 Varroc Engineering : NCLT Mumbai approves amalgamation of Varroc Lighting Systems with the company.

🎯 Generic Engineering Construction and Projects : Company has received order worth Rs 57 crore from Ctrls India Pvt Ltd. 

🎯 NBCC : Gets work contracts worth Rs 905 crore for development of Bharat Vandana Park and IIM Vishakapatnam.

🎯 HFCL : Company promoter MN Ventures acquire. Positive for the stock. 👍🏻

🎯 Just Dial : Promoter Venkatachalam Sthanu Subramani bought 3,12,869 equity shares in the company at Rs 608.87 per share on the NSE. Positive for the stock. 👍🏻

🎯 JSW Energy : Promoters released pledge of 19.1 lakh shares on November 11. Positive for the stock. 👍🏻

🎯 CG Consumer Electricals : Promoter Amalfiaco created pledge of 2.86 crore shares on November 10. Negative for the stock. 

🎯 Hatsun Agro Products : Promoter C Sathyan created pledge of 18.7 lakh shares on November 11. Negative for the stock. 

Edited by Sharp. 

17th March, 2020 Morning Brief

• The Dow recorded it's worst one-day point drop in the history. The S&P 500 finished down nearly 12%. The Nasdaq Composite ended down 12.3%.

11th November, 2020 Morning Brief

Market will open on a flat note today after making new highs yesterday on global markets' rally.

The Nasdaq closed 1.4% lower and the S&P dipped slightly on Tuesday as investors sold off technology stocks that benefited from virus lockdowns, favoring sectors that have suffered most during the pandemic instead on hopes a COVID-19 vaccine will turn the economy around.

The Dow Jones Industrial Average rose 262.95 points, or 0.9%, to 29,420.92, the S&P 500 lost 4.97 points, or 0.14%, to 3,545.53 and the Nasdaq Composite dropped 159.93 points to 11,553.86.

Oil ended nearly 3% higher on Tuesday as hopes that a COVID-19 vaccine is on the horizon outweighed worries about a drop in fuel demand from new lockdowns to contain the virus.

🎯 News & Impact 🎯 

🎯 Tata Power : 

Company reported higher profit at Rs 370.9 crore in Q2FY21 compared to Rs 338.5 crore, revenue rose to Rs 8,289.8 crore from Rs 7,677.8 crore YoY.

🎯 

🎯 Sugar stocks : 

India revives plans to offer incentives for 6 million tonnes sugar exports. 

Positive for the stocks.

🎯 Pfizer :

Company is in discussion with government to bring its COVID-19 vaccine to India: Mint Report. 

🎯 ONGC :

ONGC Videsh through its wholly owned subsidiary has signed definitive binding agreements with FAR Senegal RSSD SA (Seller), a wholly owned subsidiary of FAR Limited (FAR) for acquiring 13.6667 percent participating interest in Exploitation Area (Sangomar Field) and 15 percent participating interest in Remaining Contract Area (Exploration Area) of Rufisque, Sangomar Offshore and Sangomar Deep Offshore (RSSD) Block, Offshore Senegal.

🎯 Wipro : Company wins five-year software engineering services engagement from ThoughtSpot.

10th November, 2020 Morning Brief

Market will continue it's Northward journey while opening today by gap-up start after hitting life highs yesterday.

Asian markets are edging higher this morning, amidst promising results from a large-scale Covid-19 vaccine study.

The S&P 500 and the Dow rallied sharply with new highs on Monday as investors bet that a full economic reopening was finally in sight following the first positive data from a late-stage COVID-19 vaccine trial.

The Dow Jones Industrial Average rose 834.57 points, or 2.95%, to 29,157.97 in its biggest one-day percentage gain since June 5. The S&P 500 rose 41.06 points, or 1.17%, to 3,550.5 and the Nasdaq Composite dropped 181.45 points, or 1.53%, to 11,713.78.

🎯 News & Impact 🎯 

Important results today : GAIL, Mahindra & Mahindra, Hindalco, Tata Power. 

SEBI considering revamp of IPO rules on equity dilution.

Positive for larger entrants. 

🎯 Oil India Q2FY21 : 

Revenue down 32.5% to Rs 2,169 crore Net profit down 61.9% to Rs 239 crore Ebitda down 40.7% to Rs 737.4 crore Ebitda margin at 34% from 38.7%. 

🎯 JK Cement Q2FY21 : Revenue up 23.6% to Rs 1,550.7 crore Net profit up 2.1 times to Rs 223.5 crore Ebitda up 61.7% to Rs 410.7 crore Ebitda margin at 26.5% from 20.3%. 

Positive for the stock. 

🎯 Pfizer : Early findings showed the vaccine being developed by the company and BioNTech SE protects most people from Covid-19. The shot prevented more than 90% of symptomatic infections in the trial of tens of thousands of volunteers. 

🎯 Prabhat Dairy : 

SAT quashes SEBI's order directing Prabhat Dairy to deposit Rs 1,292 crore and also directed the regulator to process the delisting application of the firm and pass appropriate orders within six weeks.

Negative for the stock. 

🎯 HDFC : Has reduced its retail prime lending rate on housing loans by 10 basis points, from November 10.

🎯 Tata Steel : Signs MoU to procure their complete domestic zinc requirements from Hindustan Zinc.

🎯 Crompton Greaves Consumer Electricals : Two of the biggest shareholders plan to sell close to 3.83 crore shares in a placement. 

🎯 HFCL : Received a letter of award worth Rs 678.50 crore from L&T for supply of I.T. equipment, software solutions and associated equipment. The project is expected to be completed by April 2022.

🎯 Engineers India : To consider buyback of equity shares on November 12. 

🎯 TCS : To acquire 100% stake in Postbank Systems from Deutsche Bank.

🎯 JB Chemicals : Promoter Tau Investments created pledge of 3.4 crore shares (44% equity stake).

Negative for the stock. 

🎯 Anant Raj : Promoter Ashok Sarin acquired 68,622 shares between November 5-6.

🎯 Sun Pharma : Promoter Shanghvi Finance released pledge of 42 lakh shares on November 4. 

Positive for the stock. 

🎯 Parag Milk Foods : Promoters released pledge of 49.43 lakh shares on November 9.

9th Nov. 2020 Morning Brief

Market will start with a gap-up opening today with cheerful global sentiment after Mr. Biden's win. 

Asian markets have begun the new trading week with gains. 

US indices Futures are currently trading higher more than 1% even though stocks hovered near unchanged on Friday to close out with a big weekly gain as Democratic challenger Joe Biden edged closer to victory in the presidential election, while the monthly jobs report underscored the hurdles still facing the economy.

Democratic candidate Joseph Biden won the 2020 United States presidential election after the state of Pennsylvania was called in his favour. He becomes the oldest person to be elected President. Along with his, his running mate Kamala Harris will become the first female, Black and Indian-origin vice-president of the United States.

The Dow Jones Industrial Average fell 96.68 points, or 0.34%, to 28,293.5, the S&P 500 lost 4.05 points, or 0.12%, to 3,506.4 and the Nasdaq Composite dropped 4.43 points, or 0.04%, to 11,886.50.

🎯 News & Impact 🎯

🎯 Cipla Q2FY21 : Revenue up 14.6% to Rs 5,038.3 crore. Net profit up 41.2% to Rs 665.4 crore. Ebitda up 29.4% to Rs 1,176.5 crore. Ebitda margin at 23% from 21%. 

🎯 ITC Q2FY21 : Revenue up 1% to Rs 11,976 crore. Net profit down 20% to Rs 3,232.4 crore. Ebitda down 11% to Rs 4,060.6 crore. Ebitda margin at 33.9% from 38.4%. 

🎯 Divi's Laboratories Q2FY21 : Revenue up 21% to Rs 1,749.3 crore. Net profit up 45.6% to Rs 515.6 crore. Ebitda up 51% to Rs 741.4 crore. Ebitda margin at 42.4% from 33.9%. 

🎯 Vedanta Q2FY21 : Revenue down 3.8% to Rs 21,107 crore Net profit down 61.8% to Rs 824 crore Ebitda up 47.7% to Rs 6,531 crore Ebitda margin at 30.9% from 20.1%

🎯 Dilip Buildcon : Emerges as L-1 bidder for development and operation of Siarmal open cast project in Odisha. The mineable reserve to be exploited over a period of 25 years is 1,091 million metric tons and has a contract value of Rs 37,215.6 crore.

🎯 Biocon : Biocon Biologics has received capital infusion worth Rs 1,125 crore or $150 million from Goldman Sachs. Positive for the stock. 

🎯 Adani Gas : Has announced a strategic collaboration with Italy-based Snam - Europe's leading gas infrastructure company. The two intend to explore several opportunities in the energy space.

🎯 Vedanta : Overseas arm extends loans to Vedanta Resources and its subsidiaries. The loan extended to the parent company now stands at $956 million and carries an interest rate of 7%.

🎯 NTPC : Unit-2 of 800 MW of Lara Super Thermal Power Station Stage-I has been declared commercially operative with effect from November 7.

🎯 ONGC : Board approves selling 125 crore equity shares or 49% stake in OMPL to MRPL, a subsidiary of the company.

🎯 Tata Consumer Products Q2FY21 : Revenue up 19% to Rs 2,781.3 crore. Net profit up 18% to Rs 234.3 crore. Ebitda up 27% to Rs 399.6 crore. Ebitda margin at 14.4% from 13.4%. 

🎯 Sun Pharma : Promoter Shanghvi Finance created pledge of 26.4 lakh shares on November 2.

6th November, 2020 Morning Brief

Market will open on a flat note after hitting 9 month high yesterday.

Asian markets have regained some lost ground after opening lower, despite another strong session on Wall Street. Futures on the Dow Jones are trading with heavy volatility, currently fluctuating between losses of 80-150 points.  

U.S. stocks jumped on Thursday as investors bet Republicans would hold onto the Senate and prevent changes under a possible Joe Biden White House that would crimp corporate profits.

The Dow Jones Industrial Average rose 1.95% to end at 28,390.18 points, while the S&P 500 gained 1.95% to 3,510.45. The Nasdaq Composite climbed 2.59% to 11,890.93.

The Federal Reserve kept its loose monetary policy intact on Thursday and pledged again to do whatever it can in coming months to sustain a U.S. economic recovery losing speed amid a spreading coronavirus pandemic and facing uncertainty over a still-undecided presidential election.

🎯 News & Impact 🎯 

Major Results Today : ITC, Cipla.

🎯 NBFC / HFC : RBI lets banks, NBFCs do co-lending to priority sector. Banks are permitted to co-lend with all registered NBFCs (including HFCs) based on a prior agreement. The co-lending banks will take their share of the individual loans on a back-to-back basis in their books. However, NBFCs shall be required to retain a minimum of 20 per cent share of the individual loans on their books. Positive for the stocks.

🎯 Reliance : Saudi Arabia’s Public Investment Fund (PIF), one of the world’s largest sovereign wealth funds, will invest Rs 9,555 crore, or roughly $1.3 billion, in its retail unit in exchange for a 2.04 %. Positive for the stock.

🎯 Cadila Healthcare : Drug regulator's subject expert committee has rejected Zydus Cadila's application for emergency use authorization for its biological therapy, Pegylated Interferon alpha-2b or 'PegiHepTM' as a treatment of moderate COVID-19 patients.

🎯 Adani Green Energy : Arm Adani Solar Energy Jodhpur Two has commissioned its 50 MW Solar Power Project as an independent Power Producer for sale of power to third parties or on the Power exchange.

🎯 Cupid : To expand its manufacturing base to medical diagnostic test which included Rapid diagnostics tests and ELISA tests for domestic markets and exports.

🎯 APL Apollo Tubes : Company signs MoU with Zamil Steel Buildings India.

🎯 HFCL : Promoter MN Ventures acquired 10 lakh shares on November 5. Positive for the stock. 

🎯 DB Corp : Promoter Bhawna Agarwal acquired 49,150 shares between October 26 - November 3. Positive for the stock.

🎯 Tuticorin Alkali Chemicals : Promoter Southern Petrochemical Industries Corporation sold 7.36 percent stake in company to comply minimum public shareholding norm. Negative for the stock.

Edited by Sharp. 

5th Nov 2020, Morning Brief

Market opened with a gap-up with global cheer.

US stocks surged to close higher on Wednesday as the presidential election race remained cloudy but the likelihood of gridlock in Congress made investors optimistic that major policy changes would be difficult to enact.

The Dow Jones Industrial Average rose 371.42 points, or 1.35%, to 27,851.45, the S&P 500 gained 74.3 points, or 2.21%, to 3,443.46 and the Nasdaq Composite added 427.53 points, or 3.83%, to 11,588.10.

🎯 News & Impacts 🎯 

🎯 SRF Q2 : Profit at Rs 315.0 crore versus Rs 301.0 crore, revenue seen at Rs 2101.0 crore versus Rs 1738.0 crore YoY (positive)

🎯 Hind Petro : Profit at Rs 2976.0 crore versus Rs 762.0 crore, revenue seen at Rs 61400.0 crore versus Rs 62500 crore YoY (Positive)

🎯 Pidilite : Profit at Rs 356.0 crore versus poll of Rs 275.0 crore, revenue seen at Rs 1880.0 crore versus poll of Rs 1690.0 crore YoY Positive for thd stock. 

🎯 Apollo Tyre : Profit at Rs 200.0 crore versus poll of Rs 109.0 crore, revenue seen at Rs 4282.0 crore versus poll of Rs 4116.0 crore YoY Positive for the stock. 

🎯 JK Lakshmi : Profit at Rs 89.5 crore against Rs 48.7 crore; revenue rose to Rs 1132.0 crore from Rs 1012.0 crore YoY. 

Positive for the stock. 

🎯 Kalpataru Power : Profit at Rs 139.0 crore against Rs 137.0 crore; revenue seen to Rs 3032.0 crore from Rs 33216.0 crore YoY. 

Positive for the stock. 

🎯 BASF Q2 : 

Consolidated profit at Rs 411.0 crore in Q2FY21 against Rs 2.0 crore; revenue rose to Rs 2396.0 crore from Rs 2074.0 crore YoY. 

Positive for the stock. 

🎯 JSL Stainless :

Profit at Rs 172.0 crore against Rs 105.0 crore; revenue seen to Rs 2328.0 crore from Rs 2303.0 crore YoY. 

Positive for the stock. 

🎯 Godrej Agro : 

Profit at Rs 132.8 crore against Rs 81.1 crore; revenue seen to Rs 1710.0 crore from Rs 1846.0 crore YoY. 

Positive for the stock. 

🎯 Lupin :

Profit at Rs 211.0 crore against loss of Rs 127.0 crore; revenue seen to Rs 3835.0 crore from Rs 4359.0 crore YoY.  

🎯 Thermax :  

Profit at Rs 31.2 crore against Rs 16.0 crore; revenue seen to Rs 1141.0 crore from Rs 1806.0 crore YoY. 

Positive for the stock. 

🎯 EIH Q2 : 

Loss at Rs 134.0 crore versus profit of Rs 26.0 crore, revenue seen at Rs 72.0 crore versus Rs 335.0 crore YoY. 

Positive for the stock.  

🎯 Adani green :

Profit at Rs 17.6 crore versus Rs 102.3 crore, revenue seen at Rs 529.0 crore versus Rs 460.0 crore YoY.

🎯 PVR Inox : 

Maharashtra Government allows cinema halls, theatres, *multiplexes* to open with 50%. 

Positive for the stocks. 

🎯 HPCL :

Company announces Rs 2,500 crore buyback at Rs 250 per share. Positive for the stock. 

🎯 SBI Card :

Company partners with Paytm to launch Paytm SBI Card. 

Positive for the stock. 

3rd November, 2020 Morning Brief

Market will open with a gap up continuing yesterday's firmness led by banking sector.

Asian markets opened higher ahead of today's Presidential elections in the U.S. Benchmark indices in Australia and South Korea are rising while those in Japan are shut on account of a holiday.

The Dow and S&P closed higher on Monday with the Nasdaq posting slimmer gains on the eve of the U.S. presidential election, as investors girded for what could be big market swings this week.

The Dow Jones Industrial Average rose 423.45 points, or 1.6%, to 26,925.05, the S&P 500 gained 40.28 points, or 1.23%, to 3,310.24 and the Nasdaq Composite added 46.02 points, or 0.42%, to 10,957.61.

Futures on the Dow Jones are currently trading 130 points higher. 

Oil prices gained nearly 3% on Monday, rebounding from several day of losses

India's October factory growth at decade high.

RBI increases trading hours for rupee and bond markets. 

🎯 News & Impact 🎯 

🎯 NTPC Q2FY21 :

Revenue up 8.4% to Rs 24,677.1 crore. 

Net profit up 7.4% to Rs 3,504.8 crore. 

Ebitda up 13.2% to Rs 7,183.3 crore. 

Ebitda margin at 29.1% from 27.9%.

Announces buyback of 2% of the total equity worth of Rs. 2275.7.

🎯 Sterlite Tech :

To acquire 100% stake in Italy’s Optotec for 29 million euros. The target company belongs to the optical telecommunications industry. The transaction is expected to be completed by end of the calendar year 2020.

🎯 Delta Corp :

Casino operations to resume in Goa with immediate effect, in accordance with guidelines prescribed by the government.

🎯 ICICI Lombard : Competition Commission of India approves acquisition of general insurance business of Bharti Axa.

Positive for the stock. 

🎯 Supreme Petrochem : To establish a new line for production of polystyrene which may enhance the production capacity by 80,000 TPA.

🎯 Hindalco : Bloomberg News reports that the company has emerged as the preferred bidder for Chakla coal block in the first round of commercial coal mining auctions.

🎯 NCC : Gets orders worth Rs 833 crore from mining division of Coal India's arm.

🎯 Adani Enterprises : Commenced Lucknow International Airport operations.

2nd November, 2020 Morning Brief

Market will open on a flat note today.

Asian markets have opened mixed this morning. Benchmark indices in Japan are seeing gains while those in Australia are fluctuating. Today marks the start of a very important week for global equities, with the U.S. Presidential Elections, as well as the Federal Reserve Policy meeting.

US stock indexes closed lower on Friday to cap Wall Street's biggest weekly sell-off since March, as losses in richly priced tech heavyweights, a record rise in coronavirus cases and jitters over the presidential election snuffed investor sentiment.

The Dow Jones Industrial Average fell 157.51 points, or 0.59%, to 26,501.6. The S&P 500 lost 40.15 points, or 1.21%, to 3,269.96 and the Nasdaq Composite dropped 274.00 points, or 2.45%, to 10,911.59.

Futures on the Dow Jones are trading 140 points lower currently.

Oil prices slumped more than 4% on Monday to the lowest levels since May on worries a swathe of coronavirus lockdowns across Europe will weaken fuel demand, while traders braced for turbulence during the U.S. Presidential election week.

🎯 News & Impact 🎯 

Major Results Today : HDFC, NTPC. 

🎯 Reliance Industries Q2FY21 :

Revenue down 24% to Rs 1,16,195 crore Net profit down 7% to Rs 10,602 crore Ebitda down 16.2% to Rs 18,945 crore Ebitda margin at 16% from 14.4% Gross Refining Margin at $5.7 per barrel from $9.4 per barrel. 

🎯 ICICI Bank Q2FY21 : 

Net Interest Income up 16% to Rs 9,366 crore Net profit at Rs 4,251 crore from Rs 655 crore Gross NPA at 5.17% from 5.46% last quarter Net NPA at 1% from 1.23% last quarter. 

🎯 IndusInd Bank Q2FY21 :

Net Interest Income up 12.7% to Rs 3,278 crore Net profit down 53% to Rs 663 crore Gross NPA at 2.21% from 2.5% last quarter Net NPA at 0.52% from 0.86% last quarter. 

🎯 UPL Q2FY21 :

Revenue up 14% to Rs 8,939 crore Net profit up 2.8 times to Rs 463 crore Ebitda up 17.5% to Rs 1,808 crore Ebitda margin at 20.2% from 19.7%

🎯 Banking stocks :

Banks to credit 'interest on interest' repayments by November 5, RBI tells SC.

🎯 Axis Bank : Has revised its stake acquisition agreement with Max Financial.

🎯 Future Retail : Has informed the exchanges that Amazon has asked for Rs 1,431 crore plus interest as damages, being the amount invested by it into Future Coupons. 

🎯 Sun Pharma : Announced five-year sustained efficacy and safety results for Ilumya in patients with moderate-to-severe plaque psoriasis.

🎯 FDC : Launched stronger version of its Favipiravir brands used to treat mild to moderate cases of Covid-19.

🎯 Atul Auto : Has increased its stake in Khushbu Auto Finance from 30% to 100% for a cash consideration of Rs 44.57 crore.

🎯 Grasim Industries : Entered into a definitive agreement with Lubrizon Advanced Material to manufacture and supply Chlorinated Polyvinil Chloride (CPVC) resin in India.

🎯 Siti Networks : Defaulted on principal worth Rs 64 crore and interest worth Rs 13 crore due to HDFC, IDBI Bank, SCB, RBL Bank, Axis Bank, Kotak Mahindra Bank and IndusInd Bank.

🎯 PNB Housing Finance : 

The National Housing Bank has imposed a penalty of Rs 1.9 crore, plus 18% GST for non-compliance with certain regulations.

🎯 Eicher Motors : Closes the business transfer agreement between Volvo Group India and VECV, post the receipt of all regulatory approvals.

🎯 Auto Sales October 

Maruti Suzuki : Overall sales up 18.9% to 1,82,448 units. Exports up 4.7% to 9,586 units. 

Escorts : Overall sales up 2.3% to 13,664 units. Exports up 51.7% to 484 units. 

Mahindra & Mahindra : Overall PV sales up 1% to 18,622 units. Exports down 25% to 2,021 units. Farm equipment sale up 2% to 46,558 units. Farm equipment exports up 23% to 970 units. 

Eicher Motors : VECV sales up 11.9% to 4,200 units. Royal Enfield sales down 7% to 66,891 units. Exports down 9% to 4,033 units. Hero MotoCorp: Overall sales up 35% to 8,06,848 units. Highest ever sales in any single month.

Hero MotoCorp : Overall sales up 35% to 8,06,848 units. Highest ever sales in any single month.

🎯 Majesco : Promoter Sundar Radhakrishnan sold 2.5 lakh shares (0.84%) at Rs 920.07 per share.

🎯 HFCL : Promoter MN Ventures acquired 10 lakh shares on October 30.