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.