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.