24th May, 2021 Morning Brief

Market will open on a flat note today after a sharp rally last week backed by domestic as well as global sentiment. 

🎯 News & Impact 🎯

Major Results Today : Grasim, India Cements, JK Paper, Mahanagar Gas,etc. 

🎯 JSW Steel : The company reported sharply higher consolidated profit at Rs 4,191 crore in Q4FY21 against Rs 188 crore in Q4FY20, revenue jumped to Rs 26,934 crore from Rs 17,887 crore YoY.

Positive. 👍

🎯 Shree Cement : The company reported higher standalone profit at Rs 767.6 crore in Q4FY21 against Rs 588.1 crore in Q4FY20, revenue increased to Rs 3,930.8 crore from Rs 3,217.5 crore YoY.

🎯 United Spirits : The company reported sharply higher consolidated profit at Rs 203.3 crore in Q4FY21 against Rs 49.3 crore in Q4FY20, revenue rose to Rs 2,230.4 crore from Rs 1,990.5 crore YoY.

Positive. 👍

🎯 Akzo Nobel India : The company reported higher consolidated profit at Rs 74.25 crore in Q4FY21 against Rs 54.08 crore in Q4FY20, revenue jumped to Rs 781.35 crore from Rs 581.27 crore YoY.

🎯 Amber Enterprises India : The company reported higher consolidated profit at Rs 76.47 crore in Q4FY21 against Rs 62.82 crore in Q4FY20, revenue rose to Rs 1,598.4 crore from Rs 1,315.18 crore YoY.

🎯 MANGALAM CEMENT Q4 : 

Net profit Up 134 % to Rs 36.4 cr ( YOY)

Revenue Up 38 % to Rs 410 Cr. 

Positive. 👍

🎯 AMARA RAJA BATTERY Q4 : 

Net profit up 38 % to Rs189 cr ( YOY)

Revenue up 32 % to Rs 2100 Cr. 

Positive. 👍

🎯 Sarda Energy & Minerals : The company reported a consolidated profit of Rs 139.45 crore in Q4 FY21 against a loss of Rs 32.27 crore in Q4 FY20, revenue jumped to Rs 699.17 crore from Rs 438.11 crore YoY.

Positive. 👍

🎯 Natco Pharma : 

The company received final approval for its abbreviated new drug application (ANDA) for Lenalidomide capsules, 5mg, 1 Omg, 15mg, and 25mg strengths, from the US FDA, and the tentative approval for 2.5mg and 20mg strengths. 

Positive. 👍

🎯 SAGARSOFT (India) Limited :Company to acquire 100% stake in IT CATS, LLC for Rs. 16.06 crores

🎯  GAYATRI HIGHWAYS : Gayatri Highways Ltd to acquire 13% in HKR Roadways Limited.

🎯 Bharat Parenterals : The company has received the license and authorization from Drugs Controller General of India (DCGI) and Central Drugs Standard Control Organisation (CDSCO), for the manufacturing and marketing of 'Favipiravir oral suspension 100mg/ml' which will be used for treatment of COVID-19 disease.

🎯 Godrej Agrovet : 

Promoter Godrej Industries bought 12,105 shares on May 18. 

Positive. 👍

🎯 Varun Beverages : 

Promoter Varun Jaipuria sold 16.88 lakh shares on May 21.

Negative. 👎🏻