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.