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21/07/2024
01/03/2021

Selling financial products like equity, insurance and loans.

7th December, 2020 Morning Brief 07/12/2020

Indian market will open on a negative note today after a record highest closing ever on Friday.

Asian markets have begun the new trading week on a positive note. Dow Futures are trading with some points' losses in the early trades today.

Wall Street’s main indexes rose to all-time high on Friday as data showing the slowest U.S. jobs growth in six months raised investors’ expectations for a new fiscal relief bill to help revive the coronavirus-hit economy and US trade deficit widens less than expected in October. US job gains miss expectations in November; unemployment rate falls to 6.7%.

The Dow Jones Industrial Average rose 248.74 points, or 0.83%, to 30,218.26, the S&P 500 gained 32.40 points, or 0.88%, to 3,699.12 and the Nasdaq Composite added 87.05 points, or 0.7%, to 12,464.23.

🎯 News & Impact 🎯

🎯 Pfizer :
Company seeks emergency use authorisation for its COVID-19 vaccine in India via an application submitted on Dec. 4.
Positive for the stock. πŸ‘πŸ»

🎯 AstraZeneca Pharma : The Serum Institute of India (SII) has applied for emergency use authorisation for the Oxford-AstraZeneca COVID-19 vaccine on December 6. SII is the first indigenous company to apply to the Drugs Controller General of India (DCGI) seeking authorisation for coronavirus vaccine in the country.

🎯 Reliance Industries :
NCLT approved the resolution plan submitted by Infrastructure Projects - a division of Reliance Projects and Property Management Services, subsidiary of Reliance Industries, for Reliance Infratel under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code.

🎯 NMDC : Government of India reaches an agreement with the Government of Karnataka and the Ministry of Steel to extend the Donimalai Iron Ore Lease. The mine has a total concession area of 597.54 hectares and estimated resource of 149 MT. This will increase the annual iron ore production in the country by 7 MTPA.

🎯 APL Apollo Tubes :
Stock split to Rs. 2. Record date 16 Dec.

🎯 HMT : HMT Watches has now completed the setup of a watch assembly line and has also received the Industrial license.

🎯 State Bank of India : The PTI reported that the Central Bureau of Investigation carried out search operation at three locations in Delhi in connection with an alleged Rs 1,800-crore fraud at State Bank of India. CBI had earlier booked Jay Polychem in connection with the alleged fraud. The agency had received a complaint from SBI against the Lajpat Nagar-based company and its promoters and directors for causing a loss of Rs 1,800.72 crore to a consortium led by the bank.

🎯 ONGC : The company's overseas arm ONGC Videsh has made a significant strike of oil in its onshore block CPO-5, Colombia. ONGC Videsh is the operator in the block with a 70% stake. This is the fourth commercial find in the block by the company.
Positive for the stock. πŸ‘πŸ»

🎯 KPI Global Infrastructure : Company has signed new long term power purchase agreement with Alliance Fibres, Surat for sale of 1.30 MW solar power for a period of 20 years under Independent Power Producer (IPP) business vertical.

🎯 Tata Consumer Products : Step-down subsidiary Earth Rules Pty Ltd., Australia has entered into an asset sale and purchase agreement for the sale of its MAP Coffee Business to Buccheri Group.
Positive for the stock. πŸ‘πŸ»

🎯 Tata Power : Company received Letters of Intents from The Odisha Electricity Regulatory Commission (OERC) to own the licences for the distribution and retail supply of electricity in WESCO Utility & SOUTHCO Utility license area.
Positive for the stock. πŸ‘πŸ»

🎯 DLF : The realty major will invest around Rs 130 crore over the next 18 months to develop a data centre in Noida as it seeks to encash rising demand for data storage capacity. The data centre project will have 3.7 lakh sq ft space with proper infrastructure, including high power capacity, according to sources.

🎯 Likhita Infrastructure : Gets order of Rs 112.88 crore from IHB Pvt. Ltd. - a JV company of IOC, HPCL and BPCL for laying pipeline in the Gujarat region which is a part of the Kandla-Gorakhpur Pipeline Project.
Positive for the stock. πŸ‘πŸ»

🎯 Deepak Fertilisers : Delhi High Court has ordered the Ministry of Chemicals and Fertilisers to return the bank guarantee worth Rs 310.5 crore to Smartchem Technologies, a wholly-owned subsidiary, within a period of four weeks.

🎯 Bharat Dynamics : Indian Airforce successfully test fired the Akash Missiles, manufactured by the company.

🎯 Eicher Motors : Volvo Eicher Commercial Vehicles commences production at its new truck plant in Bhopal.

🎯 IL&FS Transportation : Has entered into a Share Purchase Agreement with Cube Highways and Infrastructure II Pte, to sell and transfer the entire equity shareholding held by the company in Chenani Nashri Tunnelway, a wholly-owned subsidiary of the company.

🎯 Tata Chemicals : Promoter Tata Sons bought 25.71 lakh shares (1.01%) at Rs 471.88 per share.
Positive for the stock. πŸ‘πŸ»

🎯 Tata Motors : Promoter Tata Sons acquired 22.02 lakh shares on December 1.
Positive for the stock. πŸ‘πŸ»

🎯 Chalet Hotels : Promoter Palm Shelter Estate Development acquired 2.28 lakh shares on December 3.
Positive for the stock. πŸ‘πŸ»

🎯 Sudarshan Chemical Industries : Promoter NJR Finance and Archana Rathi sold 18.18 lakh shares on December 3.
Negative for the stock. πŸ‘ŽπŸ»

🎯 Axis Bank : Promoter Administrator of the Specified Undertaking of The Unit Trust of India sold 61.43 lakh shares between December 2-4.
Negative for the stock. πŸ‘ŽπŸ»

🎯 Filatex India : Promoter Yaduraj Bhageria acquired 15 lakh shares on December 2.
Positive for the stock. πŸ‘πŸ»

🎯 Arvind : Promoters Arvind Farms and Adore Investments sold 4.49 lakh shares between December 2-3.
Negative for the stock. πŸ‘ŽπŸ»

🎯 Adani Enterprises : Promoters Gautam Adani and Rajesh Adani revoked pledge of 1.08 shares between December 2-3.
Positive for the stock. πŸ‘πŸ»

🎯 Adani Transmission : Promoters Gautam Adani and Rajesh Adani revoked pledge of 1.15 crore shares on December 3.
Positive for the stock. πŸ‘πŸ»

🎯 JSW Energy : Promoter Danta Enterprises revoked pledge of 2 lakh shares on December 1.
Positive for the stock. πŸ‘πŸ»

🎯 Jubilant FoodWorks : Promoter Jubilant Consumer revoked pledge of 3 lakh shares December 2.
Positive for the stock. πŸ‘πŸ»

🎯 Solara Active Pharma Sciences : Promoter Chayadeep Properties invoked pledge of 5.15 lakh shares on December 1.
Positive for the stock. πŸ‘πŸ»

🎯 Chambal Fertilisers & Chemicals : Promoter Zuari Global revoked pledge of 3.4 lakh shares on December 2.
Positive for the stock. πŸ‘πŸ»

🎯 LG Balakrishnan & Bros : Promoter V Rajvirdhan revoked pledge of 1.98 lakh shares on December 2.
Positive for the stock. πŸ‘πŸ»

🎯 Steel Strips Wheels : Promoter Chandigarh Developers revoked pledge of 1 lakh shares on December 3.
Positive for the stock. πŸ‘πŸ»

🎯 Sun Pharma : Pledged 67.40 lakh shares on November 26, 2020 in favour of Bajaj Finance Ltd. in respect of loan availed by the third party.
Negative for the stock. πŸ‘ŽπŸ»

Edited by Sharp.

7th December, 2020 Morning Brief Indian market will open on a negative note today after a record highest closing ever on Friday. Asian markets have begun the new trading wee...

1st Dec, 2020 Morning Brief 01/12/2020

Market will open on a flat note today after a weekend and an attached holiday.
Futures on the Dow Jones are currently trading higher by 110 points. The index ended 0.9% lower on Monday.

World stock markets dipped on Monday to close a record-breaking month as the prospect of a vaccine-driven economic recovery next year and further central bank stimulus measures eclipsed immediate concerns about the spiking coronavirus pandemic.

The Dow Jones Industrial Average fell 271.73 points, or 0.91%, to 29,638.64, the S&P 500 lost 16.72 points, or 0.46%, to 3,621.63 and the Nasdaq Composite dropped 7.11 points, or 0.06%, to 12,198.74.

India's July-September quarter GDP prints came out better-than-expected, reaffirming that the signs of improvement in the economy were real.
India October eight core industries growth at -2.5%

🎯 News & Impact 🎯

🎯 Dr Reddy's Laboratories : To acquire select anti-allergy brands from Glenmark in Russia, Ukraine, Kazakhstan and Uzbekistan.

🎯 Indiabulls Housing Finance : Sold further portion of its stake in OakNorth Bank Plc worth Rs 93 crore.

🎯 TVS Motor : To acquire 100% stake in advanced fleet management solutions provider Intellicar Telematics for a cash consideration of Rs 15 crore.

🎯 HCC : Hindustan Construction Company, in a Joint Venture with Vensar Constructions has been awarded two separate contracts worth Rs 236 crore from the North East Frontier Railway. HCC's share in the JV stands at 55%.

🎯 India Grid Trust : Signs share purchase agreement to acquire 74% stake in Parbati Koldam Transmission from Reliance Infrastructure.

🎯 Unichem Labs : Company received USFDA approval for Atenolol & Chlorthalidone tablets used to treat hypertension, lower blood pressure.

🎯 Glenmark Pharma : Company to divest select anti-allergy brands to Dr Reddy’s in Russia and Ukraine.

🎯 Gufic Biosciences : Granted patent by the Eurasian patent office for invention of a 'freeze dried parenteral composition of tigecycline and process for preparation thereof. Tigecycline is a tetracycline antibiotic medication used for a number of bacterial infections and is used to treat certain serious infections including community acquired pneumonia.

🎯 Reliance Capital : Company has defaulted on interest payment on term loans of HDFC Ltd and Axis Bank as on October 31, 2020.

🎯 SRF : The company's resin plant, set-up in Thailand by its wholly-owned subsidiary has been commissioned and capitalised at a cost of $19 million.

🎯 Premier Explosives : Wins contract worth Rs 14 crore from Ministry of Defence for supply of 26 mm Chaffs.

🎯 Finolex Cables : Makes an addition to its portfolio with the launch of anti-bacteria fans.

🎯 Warren Tea : Company disposed of one of its real estate property Suvira House in Kolkata.

🎯 Max Financial Services : IRDAI approves transfer of 39 crore equity shares constituting 20.57% of the paid-up equity share capital of Max Life Insurance Company Limited held by Mitsui Sumitomo Insurance Company Limited to Max Financial Services Limited in exchange for issuance of 7.54 crore equity shares of the parent of Rs 2 each at a price of Rs 565.11 on a preferential allotment basis, constituting 21.87% of issued and paid-up share capital.

🎯 OMDC : Gets order from the Steel & Mines department of the Government of Odisha, allowing the company to dispose stock from its Bhadrasahi Iron & Manganese mining lease over 998.7 hectares.

🎯 ICICI Lombard : Gets in-principle approval to scheme of amalgamation with Bharti Axa for its general insurance business.

🎯 Healthcare Global : Enters into a share purchase agreement with Dr. Kamini Rao and her family members to acquire 49%stake in BACC Health Care, making it the wholly-owned subsidiary of the company.

🎯 VA Tech Wabag : Incorporates new subsidiary 'Kopri Bio Engineering Pvt. Ltd.' to carry out the business of manufacturing, processing, owning, operating and maintaining seqage treatment plant among other businesses.

🎯 Bombay Rayon Fashions : Company entered into a business transfer agreement with subsidiary BRFL Textiles for slump sale of its Tarapur Undertaking.

🎯 Vipul : Company entered into an agreement to disinvest its 49 percent stake in subsidiary Vipul Lavanya Developers.

🎯 Arvind : Promoters sold 4.26 lakh shares between November 26-27.
Negative for the stock.

🎯 Ajmera Realty : Promoter ARIIL Trust acquired 6.33 lakh shares on November 26.
Positive for the stock. πŸ‘πŸ»

🎯 Filatex India : Promoter Vrinda Bhageria acquired 7 lakh shares on November 24.
Positive for the stock. πŸ‘πŸ»

🎯 JTL Infra : Promoter entity Jagan Industries sold 4.01 % stake in company via open market transaction.
Negative for the stock.

🎯 Mangalore Chemicals & Fertilizers : Promoter Zuari Global bought 2 lakh shares between November 24-25.
Positive for the stock. πŸ‘πŸ»

🎯 Ashapura Minechem : Promoter Ashapura Industrial Finance acquired 50,000 shares on November 25.
Positive for the stock. πŸ‘πŸ»

🎯 Surya Roshni : Promoter Surya Roshni Employees Welfare Trust acquired 21,000 shares between November 23-24.
Positive for the stock. πŸ‘πŸ»

🎯 UPL : Promoter Uniphos Enterprises acquired 47,100 shares between November 24-25.
Positive for the stock. πŸ‘πŸ»

🎯 Action Construction Equipment : Promoter Vijay Agarwal acquired 38,500 shares between November 23-25.
Positive for the stock. πŸ‘πŸ»

🎯 Tata Steel Long Products : Promoter Tata Steel sold 82,000 shares on November 26.

🎯 JSW Steel : Promoter JSW Techno Projects Management created a pledge of 1.06 crore shares on November 24.
Negative for the stock.

🎯 Motherson Sumi : Promoter Samvardhana Motherson International revoked pledge of 2.45 crore shares on November 24.
Positive for the stock. πŸ‘πŸ»

🎯 Adani Ports & SEZ : Promoters Gautam Adani and Rajesh Adani created a pledge of 31.34 lakh shares on November 26.
Negative for the stock.

🎯 JSW Energy : Promoters JSW Investments and Indusglobe Multiventures created a pledge of 1.55 crore shares on November 24.
Negative for the stock.

🎯 Future Retail : Promoter Future Corporate Resources invoked a pledge of 2.94 crore shares on November 24.
Positive for the stock. πŸ‘πŸ»

🎯 Solara Active Pharma Sciences : Promoter Pronomz Ventures invoked a pledge of 3.57 lakh shares on November 24.
Positive for the stock.
Edited by Sharp.

1st Dec, 2020 Morning Brief Market will open on a flat note today after a weekend and an attached holiday. Futures on the Dow Jones are currently trading higher by 110 ...

13th November, 2020 Morning Brief 13/11/2020

http://sharpfinvest.blogspot.com/2020/11/13th-november-2020-morning-brief.html

Market will open on a negative side today after a small correction experienced yesterday.
Wall Street ended lower by more than a percent on Thursday as U.S. coronavirus infections surged and investors weighed the timeline for the mass rollout of an effective vaccine. US weekly jobless claims drop to seven-month low.

The Dow Jones Industrial Average fell 1.08% to end at 29,080.17 points, while the S&P 500 lost 1.00% to 3,537.01. The Nasdaq Composite dropped 0.65% to 11,709.59.

Oil prices fell in early trade on Friday as a spike in the number of COVID-19 infections raised fears for the global economy and near-term fuel demand, but remained on track for a second straight weekly gain amid hopes for a vaccine.

India September IIP at 0.2% against -8% in August.

India October retail inflation at 7.61% against 7.27% in September.

🎯 News & Impact 🎯

Major Results today : ONGC, Tata Steel.

🎯 Eicher Motors : Company reported profit at Rs 343.3 crore in Q2FY21 against Rs 572.7 crore, revenue declined to Rs 2,133.6 crore from Rs 2,192.5 crore YoY.

🎯 Sun TV Network :Company reported profit at Rs 335.1 crore in Q2FY21 compared to Rs 368.7 crore, revenue dropped to Rs 768.7 crore from Rs 803.9 crore YoY.

🎯 Grasim Industries : Company reported lower standalone profit at Rs 360.2 crore in Q2FY21 against Rs 526.5 crore, revenue declined to Rs 3,438.2 crore from Rs 4,795.1 crore YoY. Board approved sale of fertiliser operations to Indorama for Rs 2,650 crore.

Board approves sale of its fertiliser business to Indorama India. The sale will be done on a slump sale basis for a cash consideration of Rs 2,649 crore. The fertiliser business contributed to 3.45% of the total consolidated revenue. The company has also revised its capex guidance for FY21 upwards to Rs 1,852 crore. Positive for the stock.

🎯 Reliance Industries : Entered into agreement to make a capital contribution of $50 million in Breakthrough Energy Ventures. The capital contribution commitment of $50 million constitutes 5.75% of the size of the fund contemplated at present. The said investment will be made in tranches over the next 8-10 years. The transaction is subject to approval from Reserve Bank of India. Positive for the stock. πŸ‘πŸ»

🎯 Dr. Reddy's Lab : Announced the launch of Succinylcholine Chloride Injection in the U.S. market. Positive for the stock. πŸ‘πŸ»

🎯 Biocon : Company gets US FDA nod for eczema drug Tacrolimus. Positive for the stock. πŸ‘πŸ»

🎯 Sun Pharma : Taro gets US FDA nod for pneumonia drug, Clindamycin Phosphate. Positive for the stock. πŸ‘πŸ»

🎯 PNC Infratech : CARE Ratings upgraded long-term banking facilities worth Rs 1,700 crore to CARE AA from CARE AA-, with outlook remaining stable.

🎯 Future Lifestyle Fashions : CRISIL downgraded long-term bank facilities and NCDs to CRISIL B from CRISIL BB, with rating watch with negative implications remaining unchanged due to delay in servicing of interest and principal due on November on the company’s NCDs.

🎯 Camlin Fine Sciences : Board has approved setting up of an additional plant at Dahej with production capacity of 6,000 metric ton for manufacturing of ethyl vanillin and allied products for Rs 135 crore.

🎯 Infibeam Avenues : To acquire 33.3% stake in So Hum Bharat Digital Payments for Rs 18 crore. Positive for the stock. πŸ‘πŸ»

🎯 Sadbhav Infra Projects : NHAI accepts arbitration award amounting to Rs 44 crore for the company's unit Dhule Palesner Tollway.

🎯 Varroc Engineering : NCLT Mumbai approves amalgamation of Varroc Lighting Systems with the company.

🎯 Generic Engineering Construction and Projects : Company has received order worth Rs 57 crore from Ctrls India Pvt Ltd.

🎯 NBCC : Gets work contracts worth Rs 905 crore for development of Bharat Vandana Park and IIM Vishakapatnam.

🎯 HFCL : Company promoter MN Ventures acquire. Positive for the stock. πŸ‘πŸ»

🎯 Just Dial : Promoter Venkatachalam Sthanu Subramani bought 3,12,869 equity shares in the company at Rs 608.87 per share on the NSE. Positive for the stock. πŸ‘πŸ»

🎯 JSW Energy : Promoters released pledge of 19.1 lakh shares on November 11. Positive for the stock. πŸ‘πŸ»

🎯 CG Consumer Electricals : Promoter Amalfiaco created pledge of 2.86 crore shares on November 10. Negative for the stock.

🎯 Hatsun Agro Products : Promoter C Sathyan created pledge of 18.7 lakh shares on November 11. Negative for the stock.

Edited by Sharp.

13th November, 2020 Morning Brief Market will open on a negative side today after a small correction experienced yesterday. Wall Street ended lower by more than a percent on ...

30th October, 2020 Morning Brief 30/10/2020

Market will open on a flat note today after two consecutive falls.

Asian markets are mixed on the final trading day of the week. Investors are currently grappling between election uncertainty, better-than-forecast economic data and growing cases of Covid-19 in many parts of U.S. and Europe.
Futures on the Dow Jones are trading 170 points lower currently.
US stocks closed higher on Thursday, with the technology heavyweights rallying ahead of major earnings reports and upbeat domestic economic data calming investor jitters about surging coronavirus cases.
US economy notches record growth in third quarter as the government poured out more than $3 trillion worth of pandemic relief which fueled consumer spending.
The Dow Jones Industrial Average rose 139.03 points, or 0.52%, to 26,658.98, the S&P 500 gained 39.11 points, or 1.20%, to 3,310.14 and the Nasdaq Composite added 180.73 points, or 1.64%, to 11,185.59.

Oil prices tumbled on Thursday nearly 4%, touching a five-month low and extending the previous day's sharp decline on the impact renewed coronavirus lockdowns could have on oil demand.

The number of Americans seeking unemployment benefits fell last week to 751,000, the lowest since March, but it's still historically high and indicates the viral pandemic is still forcing many employers to cut jobs.

Contracting for the seventh consecutive month, the output of eight Indian core infrastructure sectors dropped by 0.8 % in September, mainly due to decline in production of crude oil, natural gas, refinery products and cement.

India's fiscal deficit at 114.8% of annual target as of at September-end.

🎯 News & Impact 🎯
Major Results Today :
Reliance Industries, IndusInd Bank, Indian Oil Corporation, UPL.

🎯 InterGlobe Aviation Q2FY21 YoY :
Revenue down 66% to Rs 2,741 crore.
Net loss widens to Rs 1,195 crore. from Rs 1,065 crore.
Ebitdar up 3.1 times to Rs 275 crore.
Ebitdar margin at 10.2% from 1.1%.

🎯 TVS Motor Q2FY21 YoY :
Revenue up 6% to Rs 4,605 crore.
Net profit up 12% to Rs 179 crore.
Ebitda up 13% to Rs 430 crore.
Ebitda margin at 9.3% from 8.8%.

🎯 Canara Bank Q2FY21
Net Interest Income up 29.3% to Rs 6,296 crore.
Net profit up 22% to Rs 444 crore.
Gross NPA at 8.23% from 8.84% last quarter.
Net NPA at 3.42% from 3.95% last quarter.
Provisions up 5% from the previous quarter to Rs 4,016.8 crore.
Positive for the stock.

🎯 Security and Intelligence Services (India) : The company reported higher consolidated profit at Rs 108.1 crore in Q2FY21 against Rs 76.2 crore, revenue rose to Rs 2,157.9 crore from Rs 2,088.8 crore YoY.

🎯 BlueDart Express :
Company reported higher profit at Rs 42.33 crore in Q2FY21 against Rs 14.64 crore, revenue increased to Rs 866.57 crore from Rs 802.17 crore YoY.
Positive for the stock.

🎯 HPCL : To consider share buyback on November 4.

🎯 Aviation Stocks : Hardeep Singh Puri, Minister of Civil Aviation stated that there will be an extension of the fare-cap on airlines by another three months.

🎯 Aurobindo Pharma :
Company gets US FDA nod for Cisatracurium Besylate used to maintain neuromuscular relaxation during major surgical procedures.
Positive for the stock. πŸ‘πŸ»

🎯 Alkem Labs :
Company gets US FDA nod for ADHD Drug Amphetamine Sulfate.
Positive for the stock. πŸ‘πŸ»

🎯 Indian Energy Exchange : Signs agreement with MCX which will enable the latter to use IEX's electricity clearing prices for settlement of its electricity derivative contracts.

🎯 Zensar Tech : Board gives in-principle approval for merger of its wholly-owned arm Cynosure Interface Services with itself.

🎯 Wipro : Company and IBM strengthened relationship; announced expansion of IBM Hybrid Cloud Practice.

🎯 JSW Steel : Promoter Danta Enterprises revoked pledge of 26 lakh shares on October 26.
Positive for the stock. πŸ‘πŸ»

🎯 HFCL : Promoter entity MN Ventures acquired further 10 lakh equity shares in company.
Positive for the stock. πŸ‘πŸ»

🎯 Max Financial Services : Promoter Max Venture Investment Holdings created pledge of 9.35 lakh shares on October 26.
Negative for the stock. πŸ‘ŽπŸ»

🎯 Sadbhav Infrastructure Project : Promoter Sadbhav Engineering released pledge on 1.9 % stake.
Negative for the stock. πŸ‘ŽπŸ»

βœ’βœ’βœ’βœ’βœ’βœ’βœ’βœ’βœ’βœ’βœ’βœ’βœ’

Edited by Sharp.

30th October, 2020 Morning Brief Market will open on a flat note today after two consecutive falls. Asian markets are mixed on the final trading day of the week. Investors a...

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