16th June, 2021 Morning Brief

Market will open on a flat note today. 

Asian stocks saw a muted start Wednesday after their U.S. peers retreated from all-time highs, with investors awaiting a policy decision from the Federal Reserve.

🎯 News & Impact 🎯

🎯 LIC Housing Finance Q4FY21 (Consolidated, QoQ) :

NII up 21% at Rs 1,589.64 crore Vs Rs 1,316.62 crore Net profit down 47% at Rs 384.93 crore Vs Rs 721.11 crore Loan-loss provision at Rs 977.19 crore Vs Rs 180.95 crore Recommended a dividend of Rs 8.50 per share. 

🎯 Lemon Tree Hotels Q4FY21 (Consolidated, QoQ) : 

Revenue up 39% at Rs 95.08 crore Vs Rs 68.37 crore Net loss at Rs 26.71 crore Vs Rs 45.72 crore Ebitda up 42% at Rs 28.53 crore Vs Rs 20.08 crore Ebitda margin at 30% Vs 29.4%

🎯 Dr. Reddy’s Laboratories: International Center for Dispute Resolution, U.S. has ordered a subsidiary of the company to pay $46.25 million (towards milestones, interest and fees) to Hatchtech Pty. for a skin treatment lotion. Dr Reddy’s arm signed an asset-purchase agreement with Hatchtech in 2015. In July 2020, the company received approval from the U.S. FDA for Xeglyze (abametapir) lotion.

🎯 Jubilant Pharmova : Jubilant HollisterStier LLC, a step-down subsidiary of the company, has partnered with Ocugen Inc. for manufacturing of Covid-19 vaccine candidate, Covaxin, for the U.S. and Canadian markets. 

🎯 RITES : Emerged as the lowest bidder for Rs 1,741 crore railways project.

🎯 Wipro : Extended its partnership with Levi Strauss & Co. The four-year agreement builds upon the companies’ existing collaboration in digital commerce, infrastructure, and finance.

🎯 KPI Global Infrastructure: The company signed new long-term Power Purchase Agreement (PPA) with Polycab India, Vadodara for sale of 5.70 MW solar power for their different units for a period of 20 years under Independent Power Producer (IPP) business vertical.

🎯 Godrej Agrovet : 

Executed a share purchase agreement with Saar Yavin and Adaya Aroyo, Maxximilk Ltd (Israel) and Godrej Maxximilk Pvt Ltd for the acquisition of 2.95 lakh shares of GMPL. Post-acquisition GMPL will become a wholly-owned subsidiary of the company.

🎯 Lupin : Life Insurance Corporation of India acquired 2.019% stake in Lupin via open market transaction, raising stake to 6.629% from 4.61%.

🎯 Adani Green Energy : Promoter Infinite Trade and Investment bought 15 lakh shares on June 14. 

Positive. 👍

🎯 Asian Granito India : Promoter Kamleshkumar Patel sold 1.50 lakh shares on June 14. 

Negative. 

🎯 Godrej Agrovet : Promoter Godrej Industries bought 36,772 shares on June 10. 

Positive. 👍

🎯 Mold-Tek Packaging : Promoter Golukonda Satyavati sold 2,000 shares between June 4-10. 

Negative 

🎯 Ultramarine & Pigments : Promoters (Sridhar Sundararajan HUF and Kala Sundarvedha) sold 6,185 shares on June 14.

Negative 

🎯 Emami : Promoter Sneha Enclave created a pledge of 15 lakh shares between June 10-11. Promoter Sneha Gardens revoked pledge of 3 lakh shares on June 11. 

🎯 Jindal Steel & Power : Promoter OPJ Trading revoked pledge of 42.21 lakh shares between June 9-10.As reported on June 15.