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. 👍