10th May, 2021 Morning Brief

Market will open with a gap up today backed by historical highs in US markets last week. 

Asian stocks and U.S. equity futures gained Monday after the S&P 500 hit a record on weak jobs data that added to the case for ongoing stimulus.

🎯 UltraTech Cement :

Company reported lower consolidated profit at Rs 1,775.23 crore in Q4FY21 against Rs 3,240.23 crore in Q4FY20, revenue jumped to Rs 14,405.61 crore from Rs 10,854.48 crore YoY.

Negative. 

🎯 DCB Bank : The bank reported higher profit at Rs 77.9 crore in Q4FY21 against Rs 68.8 crore in Q4FY20; net interest income fell to Rs 311.2 crore from Rs 323.7 crore YoY.

🎯 Avenue Supermarts : 

Company reported sharply higher consolidated profit at Rs 414.2 crore in Q4FY21 against Rs 271.5 crore in Q4FY20, revenue rose to Rs 7,411.7 crore from Rs 6,255.9 crore YoY.

Positive. 👍

🎯 Bandhan Bank : 

The bank reported sharply lower profit at Rs 103 crore in Q4FY21 against Rs 517.3 crore in Q4FY20; net interest income climbed to Rs 1,757 crore from Rs 1,680 crore YoY.

🎯 CSB Bank : 

The bank reported profit at Rs 42 crore in Q4FY21 against loss of Rs 59.7 crore in Q4FY20; net interest income jumped to Rs 275 crore from Rs 157.5 crore YoY.

🎯 IDFC First Bank : 

The bank reported sharply higher profit at Rs 127.81 crore in Q4FY21 against Rs 71.54 crore in Q4Y20; net interest income rose to Rs 1,960.26 crore from Rs 1,699.98 crore YoY.

Positive. 👍

🎯 Nitin Spinners :

The company reported sharply higher profit at Rs 42.85 crore in Q4FY21 against Rs 6.51 crore in Q4FY20, revenue jumped to Rs 511.58 crore from Rs 380.1 crore YoY.

Positive. 👍

🎯 Jubilant Pharmova : 

Subsidiary Jubilant Pharma received a favourable and unanimous judgment from the United States Court of Appeals summarily affirming Jubilant's earlier favourable rulings from the US Patent Office and the US International Trade Commission. These two rulings by the Appellate Court deny the appeals filed by Bracco Diagnostics, Inc.

Positive. 👍

🎯 TT :

The company cancelled MOU for sale of spinning mill assets located at Rajula, Gujarat, to Resilient Cotspin, Bhavnagar, Gujarat.

🎯 Hero MotoCorp : To extend the shutdown at its manufacturing facilities across India, global parts centre and R&D facility in Jaipur till May 16. This is the third extension of the shutdown by Hero MotoCorp. Maruti Suzuki India: Has extended the maintenance shutdown till May 16, keeping in view the current pandemic situation.

🎯 SBI : IRDAI has imposed a penalty of Rs 30 lakh on SBI General lnsurance Company due to non-compliance in minimum obligations under motor third-party business. The penalty has been imposed for violation of Section 32D of lnsurance Act, 1938.

🎯 NCC : 

Promoter Sirisha Projects bought 18.13 lakh shares between March 2-4. Promoters (ASN Raju, Alluri Raju and AAV Raju) sold 18.13 lakh shares between March 2-4.

Positive. 👍

🎯 Chambal Fertilisers & Chemicals : Promoter Zuari Global revoked pledge of 7.50 lakh shares on May 5. As reported on May 7.

Positive. 👍