30th April, 2021 Morning Brief

Market will open with a gap-down today on state assembly election polls and following outcomes next week. 

The S&P 500 closed at a record high on Thursday, fueled by gains in Facebook following its strong earnings report, while investors awaited upcoming results from Amazon.

The Dow Jones Industrial Average rose 0.71% to end at 34,059.42 points, while the S&P 500 gained 0.64% to 4,210.02.

Major Result Today :

Reliance Industries, IndusInd Bank, Marico, Yes Bank, Indian Hotels, Can Fin Homes,

The Fed in its meeting sealed economic confidence by keeping its monetary policy loose and reaffirming aggressive support through bond buying. Metal stocks continue to outshine other sectors on strong Outlook. 

🎯 Titan Company: The company reported sharply higher standalone profit at Rs 529 crore in Q4FY21 against Rs 357 crore in Q4FY20, revenue spiked to Rs 7,135 crore from Rs 4,429 crore YoY.

Positive. 👍

🎯 Persistent Systems: The company reported higher profit at Rs 137.7 crore in Q4FY21 against Rs 120.9 crore in Q3FY21, revenue rose to Rs 1,113.3 crore from Rs 1,075.4 crore QoQ.

🎯 Ambuja Cements: The company reported sharply higher standalone profit at Rs 664.6 crore in Q4FY21 against Rs 399 crore in Q4FY20, revenue jumped to Rs 3,621.4 crore from Rs 2,827,5 crore YoY.

Positive. 👍

🎯 AU Small Finance Bank: The bank reported a higher profit at Rs 168.97 crore in Q4FY21 against Rs 122.32 crore in Q4FY20, net interest income rose to Rs 655.83 crore from Rs 554.94 crore YoY.

Positive. 👍

🎯 Motilal Oswal Financial Services : The company reported consolidated profit at Rs 461.38 crore in Q4FY21 against a loss of Rs 237.04 crore in Q4FY20; revenue jumped to Rs 1,140.95 crore from Rs 611.21 crore YoY.

Positive. 

🎯 Equitas Small Finance Bank : The company reported a higher profit at Rs 112.87 crore in Q4FY21 against Rs 43.01 crore in Q4FY20, net interest income rose to Rs 448.57 crore from Rs 424 crore YoY.

Positive.

The Tata Group is finally on its way to making an entry into the Indian online grocery segment. The Competition Commission of India (CCI) permitted Tata Digital to acquire a majority stake (up to 64.3 per cent) of Supermarket Grocery Supplies (SGS) and its sole control over Innovative Retail Concepts (IRC), the company that runs BigBasket.

The Securities and Exchange Board of India allowed listed companies time till June 30 to file their March quarter and year-end financial results in the backdrop of the second covid wave.

Positive. 

🎯 Biocon : Demand for Biocon Biologics’ itolizumab has jumped three-fold from what it was in the first wave of the covid-19 pandemic, fuelled by a shortage of the imported tocilizumab from Cipla. Both tocilizumab and itolizumab are allowed by the Indian regulator for the treatment of cytokine storms caused by covid-19 infections.

🎯 Dr. Reddy's Laboratories: Company announced the launch of Albendazole Tablets, USP, a therapeutic equivalent generic version of Albenza Tablets approved by the USFDA.

Positive. 

🎯 Wipro : To accelerate remote working solutions Wipro has strengthened its alliance with Citrix Systems, Inc. and Hewlett Packard Enterprise (HPE). The partnership will provide enterprises a robust solution that will accelerate remote working and bring modernization into workspaces.

🎯 Indiamart : Company acquired stake in two companies, Shipway Technology and Truckhall, for about Rs 20 crore to strengthen its technology offering in logistics management.

Positive. 

🎯 Route Mobile : Company has signed a definitive agreement to acquire Phonon Communications Private Limited (“Phonon”), a leading communications automation platform provider.

Positive. 

🎯 ICICI Bank : Bank launched digital banking services for more than 20 million retail merchants in the country. “Merchant Stack” will provide grocers, supermarkets, large retail store chains, online businesses, and large e-commerce firms with an array of banking services in ‘one single place’.

🎯 Hero MotoCorp : Company has launched a Virtual Showroom feature to provide an Immersive Digital Buying Experience to customers.

🎯 Escorts : Company said it will temporarily shut down its manufacturing operations on a selective basis between May 1 and May 3 amid the deteriorating Covid-19 situation in the country.

Negative. 

🎯 Bank of Maharashtra : Bank has approved to raise capital aggregating up to Rs 5000 crore by way of any mode, subject to necessary approvals.

29th April, 2021 Morning Brief

Market will open with a gap up today continuing yesterday's rally. 

The Federal Reserve left rates unchanged Wednesday, and appears to be in no rush to rein in its accommodative stance even as vaccine rollouts and fiscal stimulus have bolstered the recovery.

The US S&P 500 slipped into the red Wednesday after hitting record intraday highs as the Federal Reserve left rates steady and signaled ongoing support for the recovery. The S&P 500 closed 0.05% lower after hitting a intraday record of 4,201.85. The Dow Jones Industrial Average fell 0.48%, or 164 points, and the Nasdaq Composite was down 0.3%.

🎯 News & Impact 🎯

Major Result Today : Hindustan Unilever, Bajaj Auto, Titan Company, Ambuja Cements, Aavas Financiers, L&T Finance Holdings, Laurus Labs

🎯 Tata Communications : The company posted profit at Rs 299.23 crore in Q4FY21 against loss at Rs 274.99 crore in Q4FY20, revenue fell to Rs 4,073.25 crore from Rs 4,397.89 crore YoY.

🎯 Security and Intelligence Services (India): The company reported profit at Rs 102.2 crore in Q4FY21 against loss of Rs 3.9 crore in Q4FY20, revenue increased to Rs 2,445.2 crore from Rs 2,209.7 crore YoY.

🎯 KSB : The company reported higher profit at Rs 43.9 crore in Q4FY21 against Rs 10.9 crore in Q4FY20, revenue jumped to Rs 381.6 crore from Rs 257 crore YoY.

🎯 Bombay Dyeing & Manufacturing Company : The company reported loss at Rs 166.74 crore in Q4FY21 against profit at Rs 48.57 crore in Q4FY20, revenue rose to Rs 497 crore from Rs 313.1 crore YoY.

🎯 GHCL : The company reported higher profit at Rs 104.19 crore in Q4FY21 against Rs 79.89 crore in Q4FY20, revenue rose to Rs 813.82 crore from Rs 733.17 crore YoY.

🎯 KPIT Technologies : The company reported profit at Rs 47.04 crore in Q4FY21 against Rs 42.97 crore in Q3FY21, revenue rose to Rs 540.3 crore from Rs 517.2 crore QoQ.

28th April, 2021 Morning Brief

Market will kickstart with a positive bias today with the help of Asian markets.

Market will open with a gap up continuing yesterday's rally ahead. 

🎯 News & Impact 🎯

Major Result Today : 

Bajaj Finserv, Biocon, Exide Industries,  L&T Finance Holdings, Laurus Labs

🎯 Axis Bank : The company reported a profit of Rs 2,677 crore in Q4 FY21 against a loss of Rs 1,388 crore in Q4 FY20. Net interest income jumped to Rs 7,555 crore from Rs 6,808 crore.

Positive. 👍

🎯 HDFC AMC : The company reported a profit of Rs 316.1 crore in Q4 FY21 versus Rs 250 crore in Q4 FY20, revenue rose to Rs 503 crore from Rs 476.1 crore.

Positive  👍

🎯 Britannia Industries : 

Profit fell to Rs 360.1 crore in Q4 FY21 against Rs 372.3 crore in Q4 FY20. Revenue rose to Rs 3,130.7 crore from Rs 2,867.7 crore in the year-ago.

🎯 Bajaj Finance : 

The company reported a higher consolidated profit at Rs 1,347 crore in Q4 FY21 against Rs 948 crore in Q4 FY20. Consolidated net interest income fell to Rs 4,659 crore from Rs 4,684 crore YoY.

Positive. 👍

🎯 ABB India : 

The company reported a profit of Rs 141 crore in Q4 FY21 against Rs 64.6 crore in Q4 FY20, revenue increased to Rs 1,629.1 crore from Rs 1,522.2 crore.

Positive. 👍

🎯 TVS Motor Company : 

The company reported a profit of Rs 289.24 crore in Q4 FY21 against Rs 73.87 crore in Q4 FY20, revenue rose to Rs 5,321.93 crore from Rs 3,481.42 crore.

Positive. 👍

🎯 Nippon Life India Asset Management : The company reported a profit of Rs 166.77 crore in Q4 FY21 against Rs 3.72 crore in Q4 FY20, revenue rose to Rs 301.90 crore from Rs 274.50 crore.

Positive.  👍

🎯 United Breweries : 

The company reported a consolidated profit of Rs 97.53 crore in Q4 FY21 against Rs 41.82 crore in Q4 FY20, revenue jumped to Rs 3,618.09 crore from Rs 3,099.91 crore.

Positive. 👍

🎯 Hatsun Agro Product : 

The company reported a profit of Rs 57.13 crore in Q4 FY21 against Rs 7.95 crore in Q4 FY20, revenue increased to Rs 1,568.87 crore from Rs 1,266.37 crore.

Positive. 👍

🎯 Bharat Forge : 

NCLT approved the resolution plan submitted by Bharat Forge for acquisition of Sanghvi Forging & Engineering.

Positive. 👍

27th April, 2021 Morning Brief

Market will open on a flat note today after a consolidation seen in benchmark index though broader market outperformed in yesterday's session.

Most Asian stocks slipped in early trading Tuesday and U.S. futures edged higher as traders await a Federal Reserve meeting that is expected to leave policy exceptionally loose despite robust growth.

🎯 News & Impact 🎯

📰

Major Result Today : 

Axis Bank, Maruti Suzuki, ABB India, Bajaj Finance, Britannia Industries, HDFC Asset Management Company, Nippon Life India Asset Management, PNB Housing Finance

🎯 Tech Mahindra : The company reported a 17.4 percent sequential decline in consolidated profit at Rs 1,081.4 crore for Q4 FY21. Consolidated revenue for the quarter stood at Rs 9,729.9 crore, up 0.9 percent QoQ. The company's subsidiary will acquire 100% equity shares in Eventus Solutions Group LLC.

Rs. 30 Dividend declared.

🎯 HDFC Life Insurance Company : The company reported a consolidated profit of Rs 319.06 crore in Q4 FY21 against Rs 311.65 crore in Q4 FY20, net premium income jumped to Rs 12,869.55 crore from Rs 10,475.95 crore in the year-ago.

🎯 SBI Cards and Payment Services : The company reported a profit of Rs 175 crore in Q4 FY21 against Rs 84 crore in Q4 FY20. Revenue declined to Rs 2,308.68 crore from Rs 2,433.24 crore in the year-ago.

NPA widens. Negative.

🎯 Castrol India : The company reported a profit of Rs 243.6 crore in March quarter 2021 against Rs 125.2 crore in March quarter 2020. Revenue jumped to Rs 1,138.7 crore from Rs 688 crore.

🎯 Wipro : The company announced the implementation of a digital experience platform for Bristol Water to modernize critical infrastructure.

🎯 Indian Railway Catering and Tourism Corporation : Due to rising COVID cases and travel restrictions, the operation of the IRCTC Lucknow - New Delhi Tejas Express train has been suspended. 

26th April, 2021 Morning Brief

Market will open on gap up taking support from global firmness in international markets.

Major Result Today :

Tech Mahindra, HDFC Life Insurance Company, SBI Cards and Payment Services, Castrol India.

🎯 ICICI Bank : 

The bank reported sharply higher profit at Rs 4,402.6 crore in Q4FY21 against Rs 1,221.4 crore in Q4FY20, net interest income jumped to Rs 10,431 crore from Rs 8,928 crore YoY.

Positive 👍 

🎯 HCL Technologies :

The company reported lower consolidated profit at Rs 2,962 crore in Q4FY21 against Rs 3,982 crore in Q3FY21. The company expects FY22 revenue to grow in double digits in constant currency terms.

Negative. 

🎯 Indiabulls Real Estate :

The company reported consolidated profit at Rs 94.5 crore in Q4FY21 against loss of Rs 109.7 crore, revenue rose to Rs 731.7 crore from Rs 116.3 crore YoY.

Positive 👍

🎯 Reliance Industries :

RIL and bp today announced the start of production from the Satellite Cluster gas field in block KG D6 off the east coast of India. 

Positive. 👍

🎯 Ramkrishna Forgings :

The company started commercial production of 7,000 tonnes press from its Plant-V, at Saraikala, Jamshedpur from April 22, increasing the production capacity by 17,000 tonnes per annum. 

Positive. 👍

🎯 SREI Infrastructure Finance :

Subsidiary Srei Equipment Finance has further received an expression of interest for capital infusion from Cerberus Global Investments B.V.

🎯 PNC Infratech :

The company has received appointed date for EPC project - construction of Eight Lane access controlled expressway starting from Junction with NH-47 near Bhamaiya Village and ending at Junction with SH-175 in Baletiya Village in Panchmahal District Section of Delhi - Vadodara Greenfield Alignment (NH-148N) under Bharatmala Pariyojana in Gujarat for a contract value of Rs 748.00 crore - from National Highways Authority of India.

🎯 Tata Group Stocks in focus :

The Shapoorji Pallonji Group has filed a review petition in the Supreme Court challenging parts of its verdict in the Tata Sons vs Cyrus Mistry case, sources with knowledge of the matter told Moneycontrol.

23rd April, 2021 Morning Brief

Market will start with a weak note ahead of weakness in global markets today.

 

Asia stocks weakened following broad-based declines in U.S. benchmarks as investors mulled a proposal for higher taxes on the wealthy to help pay for U.S. President Joe Biden’s social plan. 

Result Today : HCL Tech

 🎯 News & Impact 🎯

 🎯 Cyient :

The company reported higher consolidated profit at Rs 103.1 crore in Q4FY21 against Rs 95.4 crore in Q3FY21, revenue rose to Rs 1,093.1 crore from Rs 1,044.3 crore QoQ. Positive 👍

 🎯 Tata Motors : 

JLR is currently experiencing some COVID-19 supply chain disruption. As a result, JLR has adjusted production schedules for certain vehicles. Negative

🎯 Tata Elxsi : The company reported sharply higher profit at Rs 115.16 crore in Q4FY21 against Rs 82.08 crore in Q4FY20, revenue rose to Rs 518.4 crore from Rs 438.88 crore YoY. The company recommended final dividend of Rs 24 per share for FY21 and one-time special dividend of Rs 24 per share. Positive. 👍

 🎯 Indus Towers : 

The company reported higher profit at Rs 1,363.8 crore in Q4FY21 against Rs 1,360 crore in Q3FY21, revenue fell to Rs 6,491.8 crore from Rs 6,736.1 crore QoQ. Positive 👍

 🎯 Wonderla Holidays : 

The company announced closure of its Kochi and Hyderabad amusement parks till April 29 or until further notice due to the current COVID-19 situation. Negative

🎯 Rallis India : 

The company reported sharply higher consolidated profit at Rs 8.12 crore in Q4FY21 against Rs 0.68 crore in Q4FY20, revenue rose to Rs 471.26 crore from Rs 346.29 crore YoY.

 🎯 Visaka Industries | The company reported sharply higher consolidated profit at Rs 30.87 crore against Rs 6.85 crore in Q4FY20, revenue rose to Rs 354.18 crore from Rs 227.7 crore YoY. Positive 👍

🎯 Pidilite Industries : The company's shareholding in its subsidiary entity - Cipy Poly Urethanes Pvt. Ltd. (CIPY) - has been increased from 70 percent to 100 percent. CIPY is now a wholly-owned subsidiary of the company. The consideration of Rs 60.49 crore has been paid in cash.

22nd April, 2021 Morning Brief

Market will open with a gap-down on fear of nationwide lockdown on riding cases of COVID-19 amid positive global cues. 

Asia stocks bounced after U.S. equities snapped a two-day drop on a rally in companies that stand to benefit the most from an economic revival. The dollar and Treasuries stabilised.

US Futures were trading with a loss of 76 points in the morning trades today. 

Results Updates :

NESTLE INDIA: Q4FY21Q4 CONS 

NET PROFIT 6.02B RUPEES VS 5.25B (YOY); EST 5.8BQ4 REVENUE 36.11B RUPEES VS 33.25B (YOY)

CO DECLARED INTERIM DIVIDEND OF 25 RUPEES PER SHARE

🎯 SWARJ ENGINES Q4 : 

Net profit Up 100 % to Rs 32.56 Cr (YOY)

Revenue Up 73 % to Rs 304 cr. 

PHILIP CARBON Q4 : 

Net Profit Up 76 % to Rs 127 cr (YOY)

Revenue Up 23 % to Rs 866 cr (YOY)

🎯 ICICI SECURITIES: Q4 CONS NET PROFIT 3.29B RUPEES VS 1.56B (YOY); EST 2.3B || Q4 REVENUE 7.39B RUPEES VS 4.80B (YOY)

Recommends Rs 13.5 as final dividend ..

🎯 TEJAS NETWORK Q4 : 

Net profit Rs 33 cr against loss of Rs 126 cr last year .

Revenue Up 267 % to Rs 201 cr ( YOY)

🎯 Dr Reddy's Laboratories : Company is expecting to roll out the Sputnik V COVID-19 vaccine by May-end or early June. Positive for the stock. 👍

🎯 State Bank of India : SBI said IRDAI has imposed a penalty of Rs 25 lakh on SBI General Insurance, the unlisted subsidiary of SBI, for non-compliance with minimum obligations under Motor Third Party Business, for FY18.

🎯 Hero MotoCorp : Company signed a MoU with the Municipal Corporation of Gurugram for the ecological restoration and conservation of the Aravali Biodiversity Park, situated in Gurugram, Haryana, for the next 10 years.

🎯 Snowman Logistics : Rating agency CRISIL affirmed Snowman Logistics long term rating at 'A/Stable'. Positive for the stock. 👍

🎯 Salasar Techno Engineering : The company has received new orders worth Rs 27.45 crore and Rs 20.25 crore from Rajasthan Rajya Vidyut Prasaran Nigam. The orders are for construction of 220KV and 132 KV transmission lines including supply of all equipments/materials, erection, testing and commissioning on supply & ETC basis.

🎯 LIC collects highest ever new premium at Rs 1.84 lakh crore. Positive for other insurance sector as well.

20th April, 2021 Morning Brief

Market will continue yesterday's recovery mode with a gap up opening today.

Asia stocks slipped at the open Tuesday after weakness in the technology sector pulled U.S. indexes from all-time peaks, with investors weighing corporate earnings and recent spikes in virus cases.

🎯 News & Impact 🎯

Major Result Today : Nestle India

🎯 ACC : The company reported 74% higher consolidated profit at Rs 563 crore in Q1CY21 against Rs 323 crore in Q1CY20, consolidated revenue rose to Rs 4,213 crore from Rs 3,433 crore YoY.

🎯 ICICI Prudential Life Insurance Company (Standalone, YoY)

Net income down 64% at Rs 63.78 crore Vs Rs 179 crore

PAT for FY21 at Rs 960 crore Vs Rs 1,081 crore in FY20

Net premium income up 13% at Rs 11,880 crore

Net investment income at Rs 7,140 crore. 

🎯 Tech Mahindra : Board has approved the proposal to acquire 100% equity shares in DigitalOnUs, Inc. directly and indirectly through its wholly-owned subsidiary, Tech Mahindra (Americas) Inc. The cost of acquisition is $120 million. The transaction is expected to close by May 15, 2021.

🎯 Amarjothi Spinning Mills : The company has approved the sale of land measuring 3 acres and 88.50 Cents to AFCM Wind Farms for Rs 16 lakh. The company is planning to dispose of some of its unutilised properties so as to liquidate assets.

🎯 Aditya Birla Sun Life AMC Ltd., a unit of Aditya Birla Capital Ltd., filed a draft red herring prospectus for an initial public offering via a secondary sale of shares, according to a statement to stock exchanges.

🎯 Adani Enterprises : 

Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 3.50 lakh shares on April 16.

Positive for the stock. 👍

🎯 Adani Ports and SEZ : Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 67.13 lakh shares on April 16.

🎯 Adani Transmission : Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 15 lakh shares on April 16.

🎯 Emami : Promoter Sneha Gardens revoked pledge of 1.50 lakh shares on April 15.

Finolex Industries: Promoter Mukesh Katara revoked pledge of 14,400 shares on April 12.

🎯 JSW Steel : Promoters (Sahyog Holdings, Vividh Finvest, JSW Techno Projects and JTPM Metal Traders) revoked pledge of 98.55 lakh shares between April 12-13.

19th April, 2021 Morning Brief

Market will open with a gap down on a fear of development over pandemic rise and wider lockdown even though global markets ended with firmness. 

Asian shares opened mixed Monday and U.S. equity futures dipped after stocks ended the week at all-time highs, with investors focusing on the economic recovery and upcoming earnings.Japan’s benchmark edged lower, while Australia and South Korea were in the green after the S&P 500 Index capped its fourth straight weekly advance.

Dow Jones Futures trading lower with 76 points in the morning trades today. 

The three main Wall Street indexes ended Friday higher for the day and week, with the S&P 500 and the Dow breaking closing records, as investors took strong economic data and bank earnings as signs of momentum in the U.S. pandemic recovery.

The Dow Jones Industrial Average rose 164.68 points, or 0.48%, to 34,200.67; the S&P 500 gained 15.05 points, or 0.36%, at 4,185.47; and the Nasdaq Composite added 13.58 points, or 0.1%, at 14,052.34.

🎯 News & Impact 🎯

Japan's exports post largest monthly gain since late 2017.

New Listing today : Microtech Developers (Lodha Builders) 

Major Results Today : ACC

🎯 HDFC BANK : The bank's net profit increased to Rs 8,186.51 crore in Q4FY21, from Rs 6,927.7 crore in year-ago period. Net interest income rose 12.6 percent to Rs 17,120.2 crore from Rs 15,204.1 crore in same period.

🎯 Mindtree : The company reported a 2.8 percent decline in Q4FY21 profit at Rs 317.3 crore against Rs 326.5 crore in Q3FY21, revenue rose to Rs 2,109.3 crore from Rs 2,023.7 crore QoQ.

🎯 Agro Tech Foods : Rekha Rakesh Jhunjhunwala increased stake in Agro Tech Foods to 3.49 percent (8,49,559 equity shares) in March quarter 2021, from 3.28 percent stake.

🎯 GE Power India : The company executed Share Purchase Agreement with GE Power Systems GmbH for acquisition of legal and beneficial ownership of 50 percent of the issued and paid up share capital of NTPC GE Power Services Private Limited.

🎯 Bharti Airtel : The Government of Ghana will acquire 100 percent shares of AirtelTigo along with all customers, assets and liabilities. The Government of Ghana, Bharti Airtel and Millicom International Cellular S.A. have executed the definitive agreement for the transfer of AirtelTigo to the Government of Ghana on a going concern basis.

🎯 Coal India : Company has incorporated two wholly owned subsidiaries - CIL Solar PV Limited for manufacturing of solar value Chain (Ingot-wafer-Cell Module), and CIL Navikarniya Urja for renewable energy on date.

🎯 ISGEC Heavy Engineering : The company has signed a project specific collaboration agreement with United Conveyor Corporation, USA, for dry sorbent injection (DSI) technology. The DSI Technology can be used to reduce sulphur dioxide emissions from thermal power plants, said the company in its BSE filing.

16th April, 2021 Morning

A flat start for today can be expected in our market even though Dow Jones crosses 34k mark, an historical high.

Asian stocks fluctuated in early trade Friday after surprisingly robust economic data helped propel U.S. indices to records. Yields on benchmark 10-year Treasury notes declined.

The S&P 500 and Dow Jones indexes hit record highs on Thursday, as upbeat earnings reports from companies including Bank of America and BlackRock as well as a strong rebound in March retail sales bolstered hopes of a broader economic rebound.

The Dow Jones Industrial Average rose 305.1 points, or 0.9 percent, to 34,035.99; the S&P 500 gained 45.76 points, or 1.11 percent, at 4,170.42; and the Nasdaq Composite added 180.92 points, or 1.31 percent, at 14,038.76.

News & Impact

Indian exports had fallen by 34.5 % to  $21.4 billion in March 2020, than a year back. 

Negative

U.S. retail sales post largest gain in 10 months; weekly jobless claims fall.

Positive. 

China's first-quarter GDP to hit record growth as recovery speeds up. 

Positive

🎯 Ashoka Buildcon

Has received a Letter of Award from Gujarat Rail Infrastructure Development Corporation Limited for a gauge conversion project. The project cost is Rs 333 crore. 

🎯 National Fertilizers

Government has issued a request for proposals to engage legal advisors, merchant bankers and selling brokers to sell a 20% stake in the company via OFS.

🎯 Jindal Steel & Power : 

Promoters (Sushil Bhuwalka and Urmila Bhuwalka) bought 9,500 shares between April 7-12

15th April, 2021 Morning Brief

Market will start continuing it's upward journey after a holiday pause.

Asian equities were muted at Thursday's open after U.S. stocks closed off all-time peaks as a drop in cryptocurrency exchange Coinbase Global Inc. overshadowed strong bank earnings.

Wall Street indexes closed mixed on Wednesday, with the Nasdaq Composite and S&P 500 falling despite another record intraday high for the latter and big banks' stellar results on the first day of earnings season.

The Dow Jones Industrial Average rose 53.62 points, or 0.16%, to 33,730.89; and the S&P 500 lost 16.93 points, or 0.41%, at 4,124.66. The Nasdaq Composite dropped 138.26 points, or 0.99%, to 13,857.84.

Major Result Today : Wipro

🎯 News & Impact 🎯

🎯 Infosys Q4FY21 (Consolidated, QoQ)

Revenue up 1% at Rs 26,311 crore Versus Rs 25,927 crore. 

Net profit down 3% at Rs 5,078 crore Versus Rs 5,215 crore. 

Ebit down 2% at Rs 6,440 crore Versus Rs 6,589 crore. 

Ebit margins at 24.5% Versus 25.4%

🎯 Dr Reddy's Laboratories : 

To distribute 250 million doses of Sputnik V vaccine. In talks with the Indian government on pricing.

🎯 Bharti Airtel : 

Announces new corporate structure to sharpen focus on Digital. 

🎯 Aditya Birla Capital : 

Board accords approval for Aditya Birla Sun Life AMC's IPO. 

🎯 UPL : 

Supreme Court of Queensland in Australia has dismissed a class action litigation against Advanta Seeds Pty, a subsidiary of the company.

🎯 Vedanta : 

37.42 crore shares of the company were validly tendered in the voluntary open offer.

🎯 Sterlite Technologies : 

Openreach has selected the company as a strategic partner to help build its new U.K. full-fibre network. Sterlite Tech will be responsible for delivering millions of kilometres of optical fibre cable to support the build over the next three years.

🎯 NHPC : 

Signs promoters agreement with Jammu and Kashmir State Power Development Corporation Ltd. and the government of the Union Territory of Jammu and Kashmir for 850 MW Ratle Hydro-electric Project. NHPC will hold a 51% stake in the JV company which will have an authorised share capital of Rs 1,600 crore.

🎯 Happiest Minds Technologies : 

Has entered into a strategic partnership with BeatRoute to solve typical revenue realisation problems faced by the Consumer Packaged Goods (CPG) industry.

🎯 JSW Steel : 

Has completed the acquisition of a 30.73% stake in GSI Lucchini for a cash consideration of 1 million euros.

🎯 Future Retail : 

Amazon has filed a special leave petition before the Supreme Court against the order passed by the Division bench of the Delhi High Court.

🎯 Adani Enterprises : 

The company's wholly-owned subsidiary, Adani Road Transport, has incorporated a WOS namely, Badakumari Karki Road, to carry out the development, operation, maintenance and management of a highway project in Odisha.

🎯 Emami : 

Promoters (Sneha Gardens and Sneha Enclave) revoked pledge of 19.40 lakh shares between April 9-12.

Positive for the stock. 👍

🎯 Adani Power : 

Promoter Adani Tradeline LLP revoked pledge of 1.45 crore shares between April 7-9.

Positive for the stock. 👍

🎯 Sun Pharmaceutical Industries : Promoter Shanghvi Finance revoked pledge of 1.79 crore shares between April 9-12.

Positive for the stock. 👍

13th April, 2021 Morning Brief

Market will open on a flat note today after a major correction in fear of rising covid cases all over the country.

Asian equities climbed early Tuesday, with U.S. stocks around record highs as investors eye the start of the corporate earnings season and relatively smooth sales of government debt.

Banks and financial firms begin reporting first-quarter earnings, including JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp., Morgan Stanley, Goldman Sachs Group Inc.

The U.S. releases inflation data Tuesday.

Chinese trade data are scheduled for Tuesday.

U.S. data including initial jobless claims, industrial production and retail sales come Thursday.

China economic growth, industrial production and retail sales figures are on Friday.

The S&P 500 and Dow Jones industrial average ended lower on Monday, with investors waiting for cues from the upcoming corporate earnings season and a key inflation report later this week.

The Dow Jones Industrial Average fell 55.2 points, or 0.16%, to 33,745.4, the S&P 500 lost 0.81 points, or 0.02%, to 4,127.99 and the Nasdaq Composite dropped 50.19 points, or 0.36%, to 13,850.

🎯 News & Impact 🎯

IIP contracted 3.6% in the month of February.

March CPI inflation at 5.52% up from February's 5.03%

TCS Q4 (Quarter-on-Quarter) :

Revenue up 4% at Rs 43,705 crore Versus Rs 42,015 crore. 

EBIT up 4.9% at Rs 11,734 crore Versus Rs 11,184 crore. 

EBIT margin at 26.8% Versus 26.60%. 

Net profit up 6.26% at Rs 9,246 crore Versus Rs 8,701 crore. 

🎯 Yesbank : Sebi imposes Rs 25 crore penalty on YES Bank in AT1 bonds case. 

🎯 L&T Finance Holdings : 

L&T Housing Finance and L&T Infrastructure Finance Company to merge with L&T Finance, all wholly-owned subsidiaries of the company.

🎯 Muthoot Finance : Board has approved payment of an interim dividend of Rs 20 per equity share. The interim dividend will be paid within 30 days from the date of declaration.

Positive for the stock. 

🎯 Adani Enterprises : 

Promoter Adani Tradeline LLP revoked the pledge of 36.98 lakh shares between April 7-8.

🎯 Adani Transmission: 

Promoter Adani Tradeline LLP revoked the pledge of 32.99 lakh shares on April 8.

🎯 Emami : 

Promoter Sneha Enclave revoked the pledge of 1.50 lakh shares on April 2.

12th April, 2021 Morning Brief

Market will open on a negative note today on a rise of Covid 19 cases and fear of strict lock down in many states. 

The Dow Futures trading down with 100 points in the morning today.  

Asian equities have begun the new trading week on a subdued note, even as peers on Wall Street gained for the third week in a row on Friday.

The March quarter earnings season will begin in the coming week. Tata Consultancy Services, Infosys, Wipro, Mindtree, HDFC Bank, ICICI Lombard are kick starting the important earnings' season.

The coming week is also important to watch out for in terms of macroeconomic data point of view, as industrial production for February and CPI inflation for March will be released on Monday, while WPI inflation for March will be announced on Wednesday.

The S&P 500 and the Dow rose on Friday to close at record highs, posting a third straight weekly rise partly on a lift from growth stocks, with a late-day rally building gains ahead of quarterly earnings season next week.

The Dow Jones Industrial Average rose 297.03 points, or 0.89%, to 33,800.6, the S&P 500 gained 31.63 points, or 0.77%, to 4,128.8 and the Nasdaq Composite added 70.88 points, or 0.51%, to 13,900.19.

🎯 News & IMPACT 🎯

Major Result Today : TCS

🎯 Infosys : Board to meet on April 14 to consider a proposal for buyback of fully paid-up equity shares of the company.

Positive for the stock. 👍

🎯 Ambuja Cements : The company at its AGM said that it is on track to expand capacity to reach 50 MTPA. Its upcoming facilities in Marwar Mundwa, Rajasthan, will enhance clinker capacity by 3 MTPA and improve cement sales by 5 MTPA. 

Positive for the stock. 👍

🎯 Solara Active Pharma : 

Board approves amalgamation of Aurore Life Science into itself. 

🎯 Balrampur Chini : 

Board approved revised capex for the 320 KLPD Distillery Plant to Rs 425 crore from the earlier approval of Rs 320 crore.

Positive for the stock. 👍

🎯 Natco Pharma : 

The company's marketing and distribution partner Alvogen Pine Brook LLC, has received tentative approval for its Abbreviated New Drug Application for Ibrutinib Tablets 560mg, 420mg, 280mg and 140mg strengths (generic for IMBRUVICA®), from the U.S. Food and Drug Administration.

🎯 Tata Communications : 

Has extended its partnership with Bahrain Internet Exchange to offer high speed internet connectivity with very low latency for a superior quality and seamless viewing, gaming and download experience for customers in Bahrain. Equipped with OTU-4 (Optical Transport Unit), TGN-Gulf cable system will enable customers with a robust, consistent, and manageable data transport infrastructure with the capability to scale up beyond 100 Gbps.

 🎯 Castrol India : Has entered into an exclusive supply arrangement with ki Mobility Solutions in India wherein Castrol will supply lubricant products to ki Mobility's multi-brand workshops. 

🎯 Century Plyboards : Has launched Firewall Technology that ensures that its customers get critical time to act and be safe in case of fire. The company will offer this benefit at no additional cost. 

🎯 JSW Steel : Promoter Sahyog Holdings created a pledge of 26.54 lakh shares on April 5.

🎯 Emami: Promoter Sneha Enclave revoked pledge of 5 lakh shares on April 7.

Positive for the stock. 👍

9th April, 2021 Morning Brief

Market opened on a flat note today. 

Asian equities are mixed on the final trading day on the week, despite gains on Wall Street overnight.

Futures on the Dow Jones are trading 60 points higher. The index rose 0.2% on Thursday.

🎯 News & Impact 🎯 

🎯 Alembic Pharmaceuticals : 

Company announced that its joint venture Aleor Dermaceuticals has received tentative approval from the USFDA for its Abbreviated New Drug Application (ANDA) for Efinaconazole Topical Solution, 10%.

Positive for the stock. 👍

🎯 Kalpataru Power :Company announced that its wholly owned subsidiary Kalpataru Power Do Brasil Participacoes Ltda., Brazil, has completed the acquisition of 51% stake in Fasttel along with management control on 7th April, 2021. 

Positive for the stock. 👍

🎯 Infosys : ArcelorMittal has announced a strategic long-term collaboration with the company for digital transformation.

Positive for the stock. 👍 

🎯 SREI Infrastructure Finance : 

SREI Equipment Finance, a material subsidiary of the company, has received expression of interest from two international private equity funds - U.S.-based Arena Investors and Singapore's Makara Capital Partners for capital infusion worth $250 million.

🎯 Ashok Leyland, Siemens : 

Switch Mobility Automotive and Siemens have entered into a Memorandum of Understanding towards building a co-operative technological partnership in electric commercial mobility segment and execute eMobility projects in India.

🎯 Zensar Technologies : 

Has announced a strategic partnership with U.S.-based Claimatic. The collaboration will enable the company to offer insurers digital solutions that will help them remain competitive and differentiate themselves.

Positive for the stock. 👍

🎯 SBI Cards and Payment Services : Promoter SBI Life Insurance Company sold 4,298 shares on April 7. 

Negative for the stock. 👎🏻

🎯 JSW Energy : Promoter JSW Investments created a pledge of 81.40 lakh shares on April 5.

Negative for the stock. 👎🏻

8th April, 2021 Morning Brief

Market will open with a gap up today. 

The RBI POLICY declared yesterday, has been dovish as supported by fall in bond yields and this should also benefit the equity markets by keeping borrowing costs in check for some time and was the reason, interest rates sensitive stocks flared. 

Most Asian markets have opened lower this morning, despite the S&P 500 scaling another record high overnight. Sentiment in the U.S. was boosted by the Federal Reserve's commitment to supportive policy.

Major averages hovered near unchanged on Wednesday, with the S&P 500 closing up slightly after the Federal Reserve released minutes from its most recent meeting that reinforced the U.S. central bank's position to remain patient before raising rates.

The Dow Jones Industrial Average rose 16.02 points, or 0.05%, to 33,446.26, the S&P 500 gained 6.01 points, or 0.15%, to 4,079.95 and the Nasdaq Composite dropped 9.54 points, or 0.07%, to 13,688.84.

🎯 News & Impact 🎯 

🎯 Reliance Industries : 

SEBI has imposed Rs 25 crore penalty on Mukesh Ambani, Anil Ambani, Nita Ambani, Tina Ambani and other members of their family. SEBI order pertains to increase in Reliance Industries’ promoter shareholding in 2000.

🎯 Bharti Airtel : 

Has launched 'Airtel loT' - an integrated platform that enables enterprises to harness the power of Internet of Things and be ready for the emerging era of connected things.

🎯 IRCTC : 

Has temporarily suspended Lucknow-New Delhi Tejas Express until April 30, due to recent increase in coronavirus cases. 

🎯 Hindustan Construction Company : The company's loan default amount as of March 31 stands at Rs 1,959.41 crore and the total outstanding borrowing from lenders stands at Rs 4,010.93 crore.

🎯 SBI Cards and Payment Services : Promoter SBI Life Insurance Company sold 4,298 shares on April 6.

Negative for the stock. 

🎯 Aurobindo Pharma : 

Promoter Kambam Reddy created a pledge of 3.50 lakh shares on April 3.

Negative for the stock. 

7th April, 2021 Morning Brief

Market will open on a flat note today but could end with some volatility after RBI Credit policy announcement today.

Asian equities are edging higher in mid-week trading as markets trade near all-time high levels.

Futures on the Dow Jones are trading 15 points higher today. The index fell 0.3% on Tuesday.

The S&P 500 slipped on Tuesday but stayed near closing record highs posted in consecutive sessions, as investors weighed more strong U.S. economic data against nervousness about upcoming quarterly earnings reports.

The Dow Jones Industrial Average fell 96.95 points, or 0.29%, to 33,430.24, the S&P 500 lost 3.97 points, or 0.10%, to 4,073.94 and the Nasdaq Composite dropped 7.21 points, or 0.05%, to 13,698.38.

🎯 News & Impact 🎯

🎯 BSE : 

Leading exchange BSE raised Rs 18,56,366 crores ($252.95 billion) worth of funds for the Indian corporate sector through the listing of equities, bonds, REITs, InvITs and commercial papers in FY21.

🎯 Bharti Airtel : 

Announced an agreement with Reliance Jio to transfer the Right to Use of the company's 800 MHz spectrum in Andhra Pradesh, Delhi and Mumbai to Jio. Airtel will receive a consideration of Rs 1,037.6 crore for the proposed transfer.

Positive for the stock. 👍🏻

🎯 Max Financial Services : 

Axis Bank and its two subsidiaries, Axis Capital and Axis Securities, have become the co-promoters of Max Life Insurance after the completion of acquisition of 12.99% equity stake in the company.

🎯 Cholamandalam Investment & Finance : Partnered with Zoho, Razorpay, Zerodha, Ujjivan and Airpay to submit new umbrella entity application on March 31.

🎯 Anant Raj Global : 

Promoter bought 13,500 shares on March 31. 

Positive for the stock. 👍🏻

🎯 Godrej Industries : 

Arel Enterprise LLP bought 2.59 lakh shares between March 30-31. 

Positive for the stock. 👍🏻

🎯 GMR Infrastructure : Promoter GMR Enterprises sold 1.65 crore shares on March 31.

🎯 Aurobindo Pharma : 

Promoter Group revoked pledge of 36 lakh shares on April 5. 

Positive for the stock. 👍🏻

🎯 Jindal Steel & Power : 

Promoter Siddeshwari Tradex revoked pledge of 13 lakh shares on March 25. 

Positive for the stock. 👍🏻

🎯 Suryoday Small Finance Bank : 

Promoter Baskar Ramachandran created a pledge of 1.12 crore shares on March 30.

6th April, Morning Brief

 Market is opened with a positive note, backed by US markets climbed on new highs yesterday.

Asian equities have opened mixed this morning, even as their counterparts on Wall Street hit a record overnight. 

Futures on the Dow Jones are trading 30 points lower. The index gained 1.1% on Monday.

U.S. stocks rose overnight courtesy strong economic data. U.S. service providers had the fastest growth on record in March as orders jumped to new highs.

🎯 News & Impact 🎯

🎯 Ircon International : Board approves the issue of bonus shares in the ratio of 1:1. Positive for the stock. 👍🏻

🎯 Panacea Biotec : The Russian Direct Investment Fund has signed an agreement with the company to produce 100 million doses per year of Sputnik V vaccine in India. Positive for the stock. 👍🏻

🎯 Mukand : Has reduced its debt by more than Rs 975 crore via a promoter backed line of credit. Positive for the stock. 👍🏻

🎯 Aarti Industries : Promoters Monisha Bhatia, Shreya Suneja, Indira Dedhia and Bhavna Family Private Trust sold 62,758 shares between March 30-31. Negative for the stock. 

🎯 Eris Life sciences : Promoter Himanshu shah sold 9.51 lakh shares between March 30-31. Positive for the stock. 👍🏻

🎯 Godrej Industries : Promoter Arel Enterprise LLP bought 1.02 lakh shares on March 26. Positive for the stock. 👍🏻

🎯 Godrej Agrovet : Promoter Godrej Industries bought 74,892 shares on March 30. Positive for the stock. 👍🏻

5th April, Morning Brief

Market will open on a flat note today after a smart move before a long weekend.

US job growth accelerates in March; unemployment rate falls to 6.0%

Equity markets in Japan along with the MSCI Asia Pacific gauge have opened higher at the start of the new trading week.

Futures on the Dow Jones are trading with gains of 200 points. The index rose 0.5% on Thursday.

US job growth accelerates in March; unemployment rate falls to 6.0%

Equity markets in Japan along with the MSCI Asia Pacific gauge have opened higher at the start of the new trading week. Investors weigh an unexpectedly strong U.S. jobs report and the sustainability of the recent bond market sell-off.

NSE reduces F&O lot size of Nifty50 contracts to 50 from 75; halves market lot size for 40 other stocks. 

News & Impact

🎯 Wipro : Completes takeover of METRO-NOM GMBH and METRO systems Romania for a purchase consideration of 52.04 million Euros. 

🎯 Tata Motors : Has completed the sale of its Defence business to Tata Advanced Systems Ltd. for an upfront consideration of Rs 227.7 crore.

🎯 HDFC : 

To create a special situations platform by HDFC Capital Advisors Ltd., a wholly-owned subsidiary which will seek to purchase inventory and provide last-mile funding for under construction residential projects across India.

Positive for the stock. 

🎯 NTPC : Unit-2 of 660 MW capacity fo Nabinagar Super Thermal Power Project (3X660 MW) of Nabinagar Power Generation Co. Ltd., a wholly-owned subsidiary has successfully completed trial operations and has been included in the installed capacity of the NTPC group.

🎯 NMDC : Prices of lump ore raised by 9.3% to Rs 5,850 per tonne while prices of fines raised by 5.8% to Rs 4,560 per tonne. Prices were revised higher on March 20, 2021 as well. Britannia Industries: Declares interim dividend of Rs 62 per share. Record date for the same fixed at April 10, 2021.

🎯 Adani Enterprises : Gets Letter of Award from NHAI for development of six lane Badakumari-Karki section of NH-130-CD Road under the Raipur-Visakhapatnam Economic Corridor in Odisha on a Hybrid Annuity basis.

Positive for the stock. 

🎯 Jaiprakash Power Ventures : In-line with the company's endeavor to reduce its debt, the company ha pre-paid its long-term / working capital loans amounting to Rs 299.51 crore.

🎯 NCC : Received two new orders worth Rs 530 crore in March. Of these, orders worth Rs 342 crore pertain to the irrigation division while the other order worth Rs 188 crore pertains to the buildings division.

🎯 Bharat Road Networks : 

Inks deal for complete transfer of ownership in an operating toll road project from Ghaziabad to Aligarh on NH34. The deal will be done at an enterprise value of Rs 1,600 crore. 

🎯 Tata Power : Has acquired 51% stake in TP Northern Odisha Distribution Ltd. for Rs 191.25 crore.

🎯 Dixon Technologies : Has incorporated two wholly-owned subsidiaries Dixon Electro Manufacturing Pvt. Ltd. and Dixon Technologies Solutions Pvt. Ltd. for business purposes. 

🎯 IL&FS Transportation Networks : Completes stake sale in China Road Asset to China Merchants & PingAn Infrastructure Phase 1 Equity Investment Fund - a fund jointly owned by PingAn Insurance and China Merchants.

🎯 V-Mart Retail : The company has opened six new stores - four in Uttar Pradesh, one in Bihar and one in Rajasthan.

Auto Sales 

Bajaj Auto: Overall sales up 52% at 3,69,448 units Vs 2,42,575 units. 

TVS Motor: Overall sales at 3,22,683 units Vs 1,44,739 units.

Hero MotoCorp: Overall sales at 5,76,957 units Vs 3,34,647 units.

🎯 ADF Foods : 

Promoter Mahalaxmi Thakkar sold 5,022 shares between March 30-31. 

🎯 Greenply Industries : 

Promoter Rajesh Mittal & Sons, HUF bought 34,200 shares on March 31. 

🎯 J Kumar Infraprojects : 

Promoters bought 1.04 lakh shares between March 30-31. 

🎯 Power Mech Projects : Promoter's immediate relative bought 33,521 on March 31. 

🎯 Raymond : Promoter JK Investors (Bombay) bought 45,000 shares on March 31.

🎯 Vardhman Special Steels : Promoter Sachit Jain bought 7,000 shares between March 30-31. 

🎯 West Coast Paper Mills : Promoter Kilkotagiri & Thirumbadi Plantations bought 39,739 shares between March 30-31.

🎯 Adani Transmission : 

Promoter Group revoked pledge of 5.92 lakh shares on March 30. 

🎯 Adani Ports And Special Economic Zone : Promoter Group revoked pledge of 41.37 lakh shares on March 30. 

🎯 Apollo Hospitals Enterprise : Promoter K Reddy revoked pledge of 20,916 shares on March 31. 

🎯 Asahi India Glass : 

Promoter Sanjay Labroo created a pledge of 5 lakh shares on March 26.

🎯 Emami : 

Promoter Sneha Gardens revoked pledge of 20 lakh shares on March 30. 

🎯 JSW Steel : Promoter Siddeshwari Tradex created a pledge of 3.50 lakh shares on March 26. Promoters JSW Techno Projects Management, Sahyog Holdings, Vividh Finvest and JTPM Metal Traders revoked pledge of 1.71 crore shares between March 25-30. 

🎯 JSW Energy : 

Promoters Siddheshwari Tradex, Indusglobe Multiventures and JSW Investments revoked pledge of 5.42 crore shares between March 26-30.

🎯 Max Financial Services : 

Promoter Max Ventures Investment Holdings revoked pledge of 31.17 lakh shares between March 26-31. 

🎯 Steel Strips Wheels : Promoter Dheeraj Garg created a pledge of 5 lakh shares on March 30.