Wednesday, 5 May 2021

6th May, 2021 Morning Brief

Market will open on a positive note but may witness some volatility. 
Dow Jones Futures trading flat in the morning trade now. 

Wall Street's main indexes and the Dow hit a record high on Wednesday, as growth stocks bounced from a steep selloff in the previous session and a survey showed private jobs rose in April.
The Dow Jones Industrial Average was up 155.88 points, or 0.46%, at 34,288.91, the S&P 500 was up 22.33 points, or 0.54%, at 4,186.99 and the Nasdaq Composite was up 85.27 points, or 0.63%, at 13,718.77.

Major Result Today :
Hero MotoCorp, Adani Power, Adani Transmission, Tata Consumer Products, Coforge

🎯 Tata Steel : The company posted consolidated profit of Rs 6,644.1 crore for Q4FY21 against loss of Rs 1,481.3 crore in the year-ago period. Consolidated revenue increased to Rs 49,977.4 crore from Rs 36,009.4 crore in Q4FY20.
Positive. 👍

🎯 Adani Green Energy
The company reported consolidated profit of Rs 104 crore for Q4FY21 against Rs 56 crore reported in Q4FY20, revenue rose to Rs 986 crore from Rs 696 crore in the year-ago period.
Positive. 👍

🎯 Gillette India : The company reported profit at Rs 105.66 crore in Q3FY21 against Rs 52.38 crore in Q3FY20, revenue rose to Rs 536.62 crore from Rs 406.57 crore YoY.
Positive. 👍

🎯 IDBI Bank
Cabinet Committee on Economic Affairs has approved the strategic divestment of IDBI Bank, along with a transfer of management control. The extent of respective shareholding to be divested by government and Life Insurance Corporation to be decided at the time of structuring of transaction in consultation with RBI.
Positive. 👍

🎯 TataMotors :
The Competition Commission has ordered a detailed probe against Tata Motors for alleged abuse of dominant position with respect to dealership agreements. The order has come on two complaints filed against Tata Motors, Tata Capital Financial Services Ltd and Tata Motors Finance Ltd (opposite parties).
Negative. 

🎯 Cipla :
Roche has received emergency use authorisation in India for its investigational antibody cocktail (Casirivimab and Imdevimab) used in the treatment of Covid-19. The EUA will now enable Roche to import the globally manufactured product batches to India which will be marketed and distributed in India through a strategic partnership with Cipla.

🎯 Bajaj Finance 
RBI granted authorisation to company for issuance, operation of semi-closed Prepaid Payment Instrument with perpetual validity.
Positive. 👍

🎯 Wipro
The company partnered with Transcell Oncologics to transform vaccine safety assessment using augmented intelligence. 

🎯 Maharashtra Seamless
ONGC has issued the letter of award to Jindal Drilling & Industries for deployment of Jack-up drilling rig 'Jindal Explorer' owned by Maharashtra Seamless on charter hire contract for a period of 3 years.

🎯 Praj Industries
HDFC Mutual Fund sold 4,34,583 equity shares (0.24 percent) in 
Negative. 

🎯 Maharashtra Seamless 
ONGC has issued the letter of award to Jindal Drilling & Industries for deployment of Jack-up drilling rig 'Jindal Explorer' owned by Maharashtra Seamless on charter hire contract for a period of 3 years.

🎯 AF Enterprises : The company has been qualified as L1 bidder and has received work order amounting Rs 1,99,80,000 from Uttar Pradesh Medical Supplies Corporation (UPMSCL) for manufacturing of personal eye protector goggle.


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