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.