26th March, 2021 Morning Brief

Market will open with a gap-up today.

Asian equities opened higher on the final trading day of the week, tracking gains among their peers on Wall Street.

U.S. stocks rose in a late-day rally on Thursday as investors bought stocks likely to do well in the recovery and picked up beaten-down Apple and Tesla shares in anticipation that the U.S. economy grows at its fastest pace in decades this year.

US weekly jobless claims hit one-year low; fourth-quarter GDP revised up. 

The Dow Jones Industrial Average rose 199.42 points, or 0.62%, to 32,619.48. The S&P 500 gained 20.38 points, or 0.52%, to 3,909.52 and the Nasdaq Composite added 15.79 points, or 0.12%, to 12,977.68.

🎯 News & Impact 🎯 

🎯 Engineers India and Oil India : The two companies have entered into Share Purchase Agreement for acquisition of Numaligarh Refinery Ltd.’s equity shares from BPCL. 

🎯 Pharma Stocks : Cadila Healthcare, Lupin, Torrent Pharma and a wholly-owned Indian subsidiary of Sun Pharmaceuticals to subscribe to a partnership interest in ABCD Technologies LLP (to be renamed as Indo Health Services LLP).

🎯 Punjab & Sind Bank : 

Has declared the NPA account of IL&FS as fraud and reported it to the RBI.

🎯 HG Infra Engineering : 

Has been declared as L-1 bidder by National Highways Authority of India for development of six Lane Aluru-Jakkuva section of NH-130-CD Road in Andhra Pradesh on Hybrid Annuity Mode.

🎯 Compucom Software : Has won a tender from RISL worth approximately Rs 66.99 crore and received a Letter of Acceptance for supply and installation of computer systems, interactive panel, printer, UPS and networking and electrification etc.

🎯 Hathway Cable & Datacom : Promoters Jio Content Distribution Holdings, Jio Internet Distribution Holdings and Jio Cable and Broadband Holdings to sell up to 33.79 crore equity shares, representing 19.09% of the total equity share capital, through an Offer for Sale.

🎯 Den Networks : 

Promoters Jio Futuristic Digital Holdings, Jio Digital Distribution Holdings and Jio Television Distribution Holdings to sell up to 5.54 crore equity shares, representing 11.63% of the total equity share capital, through an Offer for Sale.

Negative for the stock.

🎯 Mahindra Lifespaces : Has announced the addition of a new residential project in Kalyan.

🎯 Heranba Industries : 

Aditya Birla Finance has released the charge over the company's Sarigam property and revoked the lien on Units of Scheme of Aditya Birla Sun Life Mutual Fund.

🎯 Adani Enterprises : 

Has incorporated a wholly-owned subsidiary, Kutch Copper, for Rs 1 lakh.

🎯 Godrej Agrovet : Promoter Godrej Industries bought 18,146 shares on March 22.

Positive for the stock. 👍 

🎯 Karda Constructions : 

Promoter Prem Karda sold 3 lakh shares on March 24.

Negative for the stock. 

🎯 Olectra Greentech : 

Promoter Trinity Infraventures sold 88,223 shares between March 19-22.

🎯 Aarti Industries : 

Promoters Monisha Bhatia, Nehal Garewal and Dilip Dedhia sold 38,500 shares between March 23-24.

Negative for the stock. 

🎯 Ashok Leyland : 

Promoter Hinduja Automotive created a pledge of 10.11 crore shares on March 19.

Negative for the stock. 

🎯 Adani Enterprises : 

Promoters Adani Tradeline LLP, Gautam Adani and Rajesh Adani revoked pledge of 30.50 lakh shares between March 22-24.

Positive for the stock. 👍 

🎯 Adani Ports & SEZ : 

Promoters Adani Tradeline LLP, Gautam Adani and Rajesh Adani revoked pledge of 25.38 lakh shares between March 22-24.

Positive for the stock. 👍 

🎯 Adani Transmission : 

Promoter Group Gautam Adani and Rajesh Adani revoked pledge of 38.60 lakh shares between March 22-24.

Positive for the stock. 👍 

🎯 Jindal Steel & Power : 

Promoter Siddeshwari Tradex revoked pledge of 7 lakh shares on March 22.

Positive for the stock. 👍 

🎯 Kalpataru Power Transmission : Promoter Kalpataru Constructions revoked pledge of 11.14 lakh shares between March 23-24.

Positive for the stock. 👍