7th Jan, 2021 Morning Brief

Market will open on a flat note today after some tussle between bills and bears witnessed yesterday.

Asian markets are advancing this morning after democrats took control of the Senate, following key elections.

Futures on the Dow Jones are trading with gains of 110 points after higher closing. 

The Dow and the S&P 500 ended higher, soaring to all-time highs on Wednesday, as investors piled into financial and industrial stocks on bets a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending.

The Dow Jones Industrial Average closed 437.8 points higher, or 1.44%, to 30,829.4, the S&P 500 gained 21.28 points, or 0.57%, to 3,748.14 and the Nasdaq Composite dropped 78.17 points, or 0.61%, to 12,740.79.

🎯 News & Impact 🎯 

🎯 Housing Companies :Maharashtra cabinet clears proposal to cut govt levies on real estate by 50% until Dec 31, 2021.

Positive for the stocks. 

🎯 NMDC : Lump Ore prices raised 9.6% to Rs 5,700 per ton from Rs 5,200 per ton. Fines prices raised 4.3% to Rs 4,810 per ton from Rs 4,610 per ton.

Positive for the stock. 👍 

🎯 Dixon Technologies (India) : Has entered into an agreement with boAt for manufacturing of Twin wireless speakers.

🎯 Lupin : 

Has received approval for its Sulfamethoxazole and Trimethoprim Oral Suspension USP from the U.S. FDA, to market a generic equivalent of Bactrim Oral Suspension of Sun Pharmaceutical Industries. Sulfamethoxazole and Trimethoprim Oral Suspension USP is indicated for the treatment and prevention of a wide variety of bacterial infections and certain type of pneumonia.

Positive for the stock. 👍 

🎯 Ramco Systems : 

Will implement its Aviation M&E MRO Suite v5.8 for Construction Helicopters Inc. (CHI Aviation), part of Heligroup Inc. and its four operating and three asset-holding entities in the U.S. With this win Ramco will help manage the largest numbers of the civilian version of Chinooks (CH-47s), in the U.S.

🎯 NRB Bearings :

Promoters Harshbeena Zaveri and Aziz Yousuf Zaveri acquired 44,600 shares between December 18-31.

Positive for the stock. 👍 

🎯 Wendt (India) : 

Promoters Carborundum Universal and Wendt GmbH to sell up to 94,704 equity shares of face value of Rs 10 each via OFS.

Negative for the stock. 

🎯 Future Consumer : 

The loan default amount till December 31 stands at Rs 90 crore and total outstanding loan amount stands at Rs 329.09 crore.

🎯 Future Retail : 

Promoter Future Corporate Resources invoked pledge of 3.81 lakh shares on December 24.

🎯 JSW Steel : 

Promoter Glebe Trading created a pledge of 23 lakh shares on December 29.

🎯 Jindal Steel and Power : Promoter Glebe Trading created a pledge of 31 lakh shares on December 29.

Negative for the stock.