14th May, 2021 Morning Brief

Market will open on a positive note today after U.S. shares rebounded on Thursday after falling for three consecutive days and benchmark Treasury yields dipped with a drop in oil prices on Thursday as investors snapped up stocks that would benefit from an economic recovery and shrugged off worries about rising prices, for now.

Asia stocks climbed after U.S. benchmarks halted a three-day slide, with investors migrating to value from growth companies as signs of a strengthening labour market tempered inflation worries.

A reasonable negative candle was formed on Wednesday with minor lower shadow. Technically, this pattern indicates a follow-through weakness in the market. The optimism created after the Tuesday upside recovery has been negated on Wednesday but as volatility increased, and a bounce back in US markets with positive signals from domestic covid cases market may surprise investors today.

Larsen & Toubro, Dr Reddy's Laboratories, Cipla, Aditya Birla Capital, Indigo Paints, Jindal Stainless, Just Dial, etc.

🎯 UPL : Company reported higher consolidated profit at Rs 1,361 crore in Q4FY21 against Rs 784 crore in Q4FY20, revenue rose to Rs 12,796 crore from Rs 11,141 crore YoY.

Positive. 👍

🎯 Jindal Steel & Power : Company reported consolidated profit at Rs 2,139.28 crore for Q4FY21 against Rs 305.62 crore in Q4FY20, revenue jumped to Rs 11,880.61 crore from Rs 6,795.18 crore YoY.

Positive. 👍

🎯 Pidilite Industries : 

The company reported a sharp rise in consolidated profit at Rs 307.44 crore in Q4FY21 against Rs 156.51 crore in Q4FY20, revenue rose to Rs 2,235.52 crore from Rs 1,544.68 crore YoY.

Positive. 👍

🎯 Apollo Tyres : 

Company reported higher consolidated profit at Rs 287.3 crore in Q4FY21 against Rs 77.86 crore in Q4FY20, revenue climbed to Rs 5,025.7 crore from Rs 3,615.57 crore YoY.

Positive. 👍

🎯 Mahindra Lifespace Developers : 

The company posted a consolidated loss of Rs 27.79 crore in Q4FY21 against a loss of Rs 224.69 crore in Q4FY20, revenue fell to Rs 55.99 crore from Rs 101.42 crore YoY.

🎯 Hindalco Industries : Subsidiary Novelis' Q4 net income from continuing operations at $180 million increased 186% YoY; net sales increased 33% over the prior year to $3.6 billion in Q4FY21.

🎯 Borosil Renewables : The company approved fundraising of Rs 100 crore by way of rights issue.

🎯 Minda Industries : 

The company has invested in shares of Strongsun Renewables (SPV) by acquiring 33,750 equity shares at Rs 80 per share, aggregating to Rs 27 lakh. After the acquisition, the company holds a 27.55% stake in SPV.

🎯 Godrej Agrovet : 

Promoter Godrej Industries acquired 35,767 shares on May 10.

Positive. 👍