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.