MARKET RADAR

Stocks To Watch 08/05/2020

2020-05-08T08:35:00.002+05:30

Stocks To Watch

🔹Reliance Industries: News reports that the company is considering selling its stake in Asian Paints valued at about $989 million as the conglomerate steps up efforts to trim its debt, said people familiar with the matter. The company is in discussions with banks for the same.

🔹Tata Motors: The company has withdrawn its NCD issue of Rs 1,000 crore in view of the higher cost expectations from the market participants due to the tight money market conditions. The company says it has sufficient liquidity and would consider issuance of NCDs at an appropriate time and under normalized market conditions with necessary approvals.

🔹Zydus Cadila: Gets final approval from the U.S. FDA for Deferasirox Tablets for oral suspension. It is used to treat iron overload caused by blood transfusions.

🔹Eicher Motors: VE Commercial Vehicles segment has received the required government permissions to restart manufacturing operations in six of its plants located in Pithampur, Dewas, Thane and Baggad.

🔹GMR Infra: Clarifies that none of its group companies have approached banks for restructuring of loans and State Bank of India is not the largest lender to the group.

🔹NLC India: 8 workmen are injured an explosion in the company’s thermal plant at Neyveli. Post the incident, the company has also shut two other power generating units for safety measures.

🔹Nath Bio-Genes: Has launched a new cotton hybrid (Cotton BG-II) for the Indian market. The product will be launched this kharif season.

🔹Zydus Wellness: Board approves reappointment of Tarun Arora as CEO for a period of five years.

🔹PNB Gilts: Seeks shareholder nod increase borrowing powers of the company from to Rs 20,000 crore from Rs 12,000 crore.

🔹CG Consumer Electricals: Board approved issuing NCDs worth Rs 300 crore on a private placement basis.

🔹Wockhardt: To consider raising capital on May 11.

🔹Cyient: Board approves increasing investment limit of Foreign Portfolio Investors to 74 percent from 49 percent.

🔹Future Enterprises: Acuite Ratings & Research has placed the company’s short-term and long-term debt on credit watch with negative implications on account of significant increase in liquidity pressure faced by the company due to the Covid-19 crisis and material disruptions in its operations due to the lockdown.

🔹Endurance Tech: To consider raising capital on May 12.

🔹Welspun Corp: Resumes production at pipe facilities in Karnataka.

🔹Uflex: Promoters released pledge of 15 lakh shares between May 5-7.

🔹Neuland Labs: Gets Establishment Inspection Report (EIR) from the U.S. FDA for its manufacturing facility in Hyderabad. The facility was inspected between February 3-7. The inspection now stands closed.

🔹Mindtree: Promoters sold 66,000 shares on May 6.

🔹Other Companies That Resumed Operations: Hawkins Cookers, Kokuyo Camlin, Jindal Stainless (Hisar), S Chand, Indo Amines, Bosch, Astral Poly, Endurance Technologies.

🔹Non-Nifty Earnings Today: Adani Gas, P&G Hygiene, SBI Cards, TCI Express, Swaraj Engines.

IMPORTANT NEWS 08/05/2020

2020-05-08T08:33:00.000+05:30

🔹Move Into ASM Framework: Chalet Hotels

🔹Move Into Short-Term ASM Framework: TCI Developers, Astec LifeSciences, Spandana Sphoorty Financial

🔹Move Out Of Short-Term ASM Framework: Infibeam Avenues, Panacea Biotec, Sequent Scientific

Asian markets have opened with modest gains on Friday morning as investors continue to weigh moves to reopen economies against the data describing the Covid-19 has inflicted on them.

Futures in the U.S. have edged higher after a positive session on Thursday. The two-year treasury yields steadied after falling to a record low.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 1.2 percent to 9,305 as of 7:05 a.m.

Today (08.05.2020) foll cos. will declare Q4 results : R Systems, TCI Express, Proctor & Gamble Hygiene, Uttam Galva, Swaraj Engines, Shree Cement, Reliance Power, Reliance Infra, Adani Gas, Reliance Home Finance, Reliance Capital, SBI Cards

Tomorrow (09.05.2020) foll cos. will declare Q4 results : HDFC AMC, Capri Global, Adani Transmission, ICICI Bank, Mahindra Holidays

☀ CHINESE VICE PREMIER LIU HE, U.S. TREASURY SECRETARY MNUCHIN, AND AMBASSADOR LIGHTHIZER PARTICIPATED IN A CONF CALL - USTR OFFICE

☀MNUCHIN, LIU HE AND LIGHTHIZER DISCUSSED ECONOMIC AND TRADE ISSUES, INCLUDING RECENTLY CONCLUDED PHASE ONE AGREEMENT - USTR OFFICE

☀ MNUCHIN, LIU HE AND LIGHTHIZER SHARED UPDATES ON COVID-19 AND THEIR ASSESSMENTS OF ITS EFFECTS ON ECONOMIC GROWTH - USTR OFFICE

India Looks to Lure More Than 1,000 U.S. Companies Out of China

India is seeking to lure U.S. businesses, including medical devices giant Abbott Laboratories, to relocate from China as President Donald Trump’s administration steps up efforts to blame Beijing for its role in the coronavirus pandemic.

The government in April reached out to more than 1,000 companies in the U.S. and through overseas missions to offer incentives for manufacturers seeking to move out of China, according to Indian officials who asked not to be identified, citing rules on speaking with the media. India is prioritizing medical equipment suppliers, food processing units, textiles, leather and auto part makers among mor

Trump’s move to blame China for its handling of the Covid-19 outbreak, which has killed more than a quarter-million people worldwide, is expected to worsen global trade ties as companies and governments move resources out of the world’s second-largest economy to diversify supply chains. Japan has earmarked $2.2 billion to help shift factories from its neighbor, while European Union members plan to

For Indian Prime Minister Narendra Modi, a surge in investment would help shore up an economy battered by an eight-week nationwide lockdown to control the Covid-19 outbreak, and help him make up ground hitting a target to grow its manufacturing sector to 25% of gross domestic product by 2022 from 15%. The need to create employment is now even more urgent after the pandemic left 122 million people

“There are opportunities for India to try to gain a place in global supply chains, but this will require serious investments in infrastructure and governance,” said Paul Staniland, an associate professor at the University of Chicago who writes about India’s politics and foreign policy. “India faces tough competition from elsewhere in South and Southeast Asia.”

Officials have told companies that India is more economical in terms of securing land and affordable skilled labor than if they moved back to the U.S. or Japan, even if overall costs are still higher than China. They have also offered an assurance that India will consider specific requests on changes to labor laws, which have proved a major stumbling block for companies, and said the government is considering a request from e-commerce companies to postpone a tax on digital transactions introduced in this year’s budget.

Stocks To Watch 7/5/2020 -

2020-05-07T08:26:00.004+05:30

NIFTY HIGH LOW

Stocks To Watch

🔹Hindustan Unilever: GSK Group to sell 5.69 percent stake in the company for $3.3-3.5 billion. The offer prices for 13.37 crore shares ranges between Rs 1,850 - 1,950 per share. The offer prices is at a 3-8 percent discount to Wednesday's closing price. Offering is done via secondary placement of shares. Expected trade date for the same is May 7. Post this, the GSK group would have completely offlo

🔹Vedanta: News reports that the sale of its stake in its oil arm Cairn worth over $1 billion is said to stall.

🔹Dr. Reddy’s Laboratories: Received approval for Celecoxib oral solution from the U.S. FDA. The said drug is used to treat migraine.

🔹Aster DM Healthcare: The company's clinical arm, Aster Clinical Lab LLP has started to provide RT-PCR confirmatory test services for Covid-19 in Bengaluru. The lab is fully equipped with advanced instruments to serve routine & specialized investigation e.g. Biochemistry, Haematology, Microbiology, Molecular Diagnostics, Cytogenetics, Digital Histopathology etc.

🔹TCS: Continental Bank selects TCS BaNCS Cloud to offer richer, digitalised customer experiences. TCS BaNCS will help Continental Bank unify its offerings, integrate lease applications and offer its small and medium business customers a superior banking experience.

🔹Canara Bank: Revises Marginal Cost of Fund Based Lending Rate (MCLR). Overnight and one-month MCLR now at 7.5 percent while one-year MCLR at 7.85 percent. Repo Rate Linked Lending Rate for retail and MSME loans now at 7.3 percent from May 7.

🔹Indian Overseas Bank: The bank revises its Marginal Cost of Fund Based Lending Rate (MCLR). While the overnight and one-month MCLR is unchanged, the one-year MCLR is now at 8.25 percent from 8.15 percent while the two and three-year MCLR is at 8.30 and 8.35 percent respectively.

🔹BPCL: News reports that the Numaligarh Refinery has awarded a Rs 300 crore contract to Thyssenkrupp.

🔹NHPC: Board approved raising debt of Rs 2,000 crore for the fiscal year 2021.

🔹Adani Transmission: Board to consider raising funds on May 9.

🔹Coal India: Fine worth Rs 43.3 crore imposed on the company for illegal mining in Assam forest.

🔹Eicher Motors: Board approved appointment of Kaleeswaran Arunachalam as the Chief Financial Officer.

🔹HDFC: To raise Rs 5,000 crore via NCDs.

🔹ACC: The company will hold a board meeting to consider and approve revoking the recommendation for payment of final dividend for 2019, to cancel the earlier record date fixed for the purpose of the final dividend, to declare payment of interim dividend for 2019 if any and to fix a new record date for payment of interim dividend if declared.

🔹Hindustan Aeronautics: The Ministry of Finance has appointed IDBI Capital Markets, SBI Capital Markets and Yes Securities as merchant bankers and selling brokers for divestment of 15 percent of the government's stake in the company through an Offer for Sale (OFS). Trilegal has been appointed as the legal advisor for the same.

🔹Maruti Suzuki: To restart production of vehicles at its Manesar plant from May 12.

🔹Other Companies That Resumed Operations: Escorts, Arvind Fashions, Whirlpool, Pidilite, TVS Srichakra, Munjal Auto, Ganesha Ecosphere, Cochin Shipard, Gabriel India, Sundram Fasteners, Talbros Engineering, Lux Industries.

🔹Non-Nifty Earnings Today: RBL Bank, ICICI Securities, Solara Active Pharma, Cigniti Technologies, Cyient, Gilette, SKF, 5Paisa Capital.

🔹Workhardt: Promoter Themisto Trustee released a pledge of 73.5 lakh shares on May 6.

🔹Tata Steel: To meet Nippon MF and Morgan Stanley between May 8-11.

🔹Mindtree: Promoter Subroto Bagchi sold 2,000 shares on May 4.

IMPORATANT NEWS 7/5/2020

2020-05-07T08:22:00.007+05:30

NIFTY HIGH LOW

IMPORATANT NEWS

1. India Cases Near 50,000; Mumbai Steps Up Covid-19 Fight

🔹The total number of confirmed Covid-19 cases in India inched closer to 50,000 with state and the central governments struggling to find a balance between lives and livelihood.

🔹This includes 14,183 patients who’ve been discharged and 1,694 who’ve died.

🔹India saw its highest-ever one-day recoveries at 1,456, while 126 died in the last 24 hours.

🔹Meanwhile, Mumbai--the city with the highest number of confirmed Covid-19 cases in India--has given administrative heads of civic wards the power to take over private hospitals and nursing homes to fight the pandemic.

🔹Besides, Chief Minister Uddhav Thackeray has also requested Railways, Ports, Army, Navy and other central government undertakings to make their facilities available across Maharashtra for Covid-19 containment.

🔹This underscores the health crisis that the state, which has over 15,000 cases and over 600 deaths, is facing.

Globally, cases crossed 36 lakh leaving over 2.56 lakh people dead.

🔹The U.K.’s coronavirus death toll soared passed that of Italy, making it the worst-hit country in Europe.

🔹Hong Kong moved to ease restrictions, and the state of Bavaria set out plans to reopen its economy in what may serve as a blueprint for the rest of Germany.

🔹President Donald Trump said Americans should begin returning to their everyday lives even if it leads to more sickness and death.

2. What Kerala’s Covid-19 Strategy Can Teach The Centre

Kerala has only 36 active Covid-19 cases, yet, as per the central government’s zoning plan, social and commercial activity remains restricted across most of the state as 12 of 14 districts are either red or orange, only two are green.

🔹“We have been trying to tell Delhi that there is a lot of flexibility required,” Thomas Isaac, Kerala’s finance minister said even as he described the flexibility the state has given to local governments in managing health and social services.

🔹“We cannot be micromanaged from Delhi,” he told BloombergQuint when asked how states would administer the centre’s new zoning policy.

🔹Kerala may be an outlier, given its higher literacy levels and sustained investment in local healthcare infrastructure, its success in containing the virus spread, as narrated by Isaac below, underscores the one critical thing needed to win the battle — devolution of power.

3. India’s Services Activity Saw ‘Drastic Decline’ In April

The nationwide lockdown, which continued through the month of April, brought India’s services sector to a near standstill, showed data released by IHS Markit.

🔹The India Services Business Activity Index fell to 5.4 in April, an “extreme decline” from 49.3 in March, IHS Markit said. A reading of less than 50 indicates contraction in business activity.

🔹The reading is “indicative of the most severe contraction in services output since records began in December 2005,” the release said.

🔹According to respondents to the survey, activity fell severely as a result of the nationwide lockdown, leading businesses to shut down their operations as demand collapsed.

4. Moratorium For NBFCs: SBI Relents

India’s largest lender State Bank of India will allow non-banking financial companies to avail the benefits of a three-month repayment moratorium permitted by the Reserve Bank of India, a senior bank official told BloombergQuint on condition of anonymity.

🔹Without relief from banks earlier, NBFCs were left in a spot.

🔹While they had to offer a moratorium to their customers, a similar relief was not provided to them, leading to potential asset-liability and cashflow mismatches at these lenders.

🔹SBI has now changed its position. The bank will offer a moratorium to NBFCs on repayments due between March 1 and May 31, the official quoted above said.

🔹Since much of the period for which is the moratorium is applicable has passed, the bank will not count any overdue payments from NBFCs as defaults.

5. Chargesheet Filed Against Rana Kapoor

🔹The Enforcement Directorate on Wednesday filed a chargesheet against Yes Bank Ltd. co-founder Rana Kapoor, arrested on money laundering charges.

🔹Kapoor, former managing director and chief executive officer of Yes Bank, was arrested by the ED on March 8 under the Prevention of Money Laundering Act.

🔹He is accused of sanctioning loans to certain firms against kickbacks.

🔹Among other things, the central probe agency is investigating Rs 600 crore received by a company allegedly controlled by Kapoor, his wife and three daughters from an entity linked to the scam-hit Dewan Housing Finance Ltd.

6. Nifty Rises; GSK To Sell HUL Stake At A Discount

Indian equity markets snapped a two-day losing streak and closed with modest gains.

🔹The S&P BSE Sensex gained over 550 points from the day's low to end at 31,685, up by 0.75 percent.

🔹The NSE Nifty 50 too gained 0.7 percent to close at 9,270, rebounding close to 150 points from the day's low.

🔹Among sectoral indices, the Nifty Bank index and the Nifty Auto index rose, while the FMCG index underperformed.

GlaxoSmithKline Plc is selling its entire stake in Unilever’s listed India unit for about $3.3 billion, according to terms seen

🔹Glaxo and Horlicks Ltd. will together sell as many as 133.8 million shares in Hindustan Unilever Ltd.

🔹Prices will range between Rs 1,850-1,950 a share, representing a discount of as much as 8 percent to Wednesday’s close.

🔹JPMorgan Chase & Co., HSBC Holdings Plc and Morgan Stanley are the bookrunners.

7. How India’s Steep Fuel Price Hike Hurts Oil Retailers

Shares of India’s three listed fuel retailers fell after the government raised taxes to shore up its revenue amid the new coronavirus pandemic.

🔹India raised taxes on petrol and diesel by Rs 10 and Rs 13 a litre, respectively, effective May 6. That’s the second such move in less than two months and comes at a time international crude oil prices slumped.

🔹Yet, retail sale price of the fuel will not change, implying the companies will have to bear the brunt of the hike in excise duty.

🔹And that’s expected to hurt their gross marketing margin.

Trading Tweaks

💫Move Into ASM Framework: Digicontent

💫Move Into Short-Term ASM Framework: Healthcare Global Enterprises

💫Move Out Of Short-Term ASM Framework: Nippon Life India Asset Management, Unichem Laboratories, Shreyas Shipping & Logistics, Aurionpro Solutions

Money Market Update

🔹The rupee ended with modest losses at 75.77 against the U.S. Dollar as compared to Tuesday's close of 75.64.

Asian stocks have opened lower on Thursday morning, digesting weak overnight cues from the U.S. amid mixed corporate earnings and worsening macro data.

Treasuries have edged higher, a pull back after its recent declines amid a surge in U.S. debt issuances. The U.S. Dollar has held gains while the yen continues to trade near its highest level since mid-March.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 1 percent to 9,163 as of 6:55 a.m.

SGX Nifty trading around 9,150 Vs Nifty May Fut’s previous close of 9,280; indicates lower opening for Indian markets today.

Covid_19 Update | Brazil records at least 10,503 new cases of coronavirus (record high) & 615 deaths in the past 24 hours.

So far, more than 73,000 deaths & 12.2 lk cases have been recorded in US, per JHU data.

China reports 2 new cases, both 'imported', per govt

CLSA believes earnings momentum for Pharma will continue. Sun, Cipla, Aurobindo & Cadila are top picks

CLSA says 2020 is turning out to be similar to the last downcycle of 2015 for metals. Hindalco & Coal India are top picks

|Jefferies prefers MGL & Guj Gas over IGL amongst Gas Utilities companies. It believes sharp rise in taxes on petrol/diesel is positive for city gas cos

IMPORATANT NEWS

2020-05-06T08:07:00.001+05:30

IMPORATANT NEWS

Pledged Share Details

💥Forbes & Company: Promoter Shapoorji Pallonji created pledge of 38.7 lakh shares on April 30

💥Future Consumer: Promoter Future Capital Investment invoked pledge of 94 lakh shares on April 30

Trading Tweaks

🎯Move Into ASM Framework: STI India

🎯Move Into Short-Term ASM Framework: Apollo Micro Systems, Rushil Decor

🎯Move Out Of Short-Term ASM Framework: Hathway Cable & Datacom, La Opala RG, Ahluwalia Contracts, KDDL, Ramky Infrastructure

Insider Trading

🔸Mindtree: Promoter NS Parthasarathy sold 20,000 shares on May 4

🔸Apollo Tricoat Tubes: Promoter Lakshmi Metal Udyog acquired 40,000 shares on May 5

Money Market Update

💫The rupee saw marginal gains in Tuesday's trading session, ending at 75.64 against the U.S. Dollar as compared to Monday's close of 75.72.

Markets in Asia have opened on a mixed note as investors weigh opening up of economies from the lockdown with caution.

Oil prices have extended their rebound with Brent Crude touching $30 per barrel for the first time since April as production cuts began to kick in.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, was flat at 9,187 as of 6:55 a.m.

STOCKS TO WATCH 06/05/2020

2020-05-06T08:05:00.002+05:30

Stocks To Watch

🔹Oil Marketing Companies: Excise duty on petrol and diesel has been hiked by Rs 10 and Rs 13 respectively. This is the steepest such hike in excise duty. Retail fuel prices remain unchanged which means that OMCs will have to bear the brunt of the hike. HPCL, BPCL and Indian Oil were earning a gross marketing margin of Rs 18-20 on retail fuel which now stands reduced.

🔹Reliance Industries: To redeem debt notes due in 2035 along with interest on June 5, 2020. The principal amount payable is $200 million and interest will be close to $5 million.

🔹Adani Ports & SEZ: The company plans to reduce operating costs in FY21. It is expecting a slow pick-up in cargo volumes in Q2FY21. It is also anticipating a V-shaped recovery in H2FY21 post complete lifting of the lockdown.

🔹VST Tillers Tractors: Power Tillers sales up 2.6 times at 761 units while Tractors sales down 24 percent at 328 units in April

🔹Piramal Enterprises: Clarifies that no proposal has been placed before the board. Newspaper reports on Tuesday suggested that KKR looks to buy 20 percent stake in the company for Rs 3,500 crore.

🔹Wipro: Signs MoU with Maharashtra to re-purpose its I.T. facility in Pune to a 450-bed Covid-19 hospital. Hospital to be converted back to an I.T. facility in a year.

🔹Punjab & Sind Bank: To seek shareholders nod to raise Rs 500 crore of equity capital through QIP route in one or more tranches within the next 12 months.

🔹United Breweries: Breweries have resumed its operations with a limited workforce in a phased manner.

🔹United Spirits: Has resumed operations at majority of its manufacturing facilities with reduced capacity.

🔹HIL: Has received permission from authorities to start operations in Maharashtra, Uttar Pradesh, Andhra Pradesh, Haryana and Telangana.

🔹GE T&D India: Has partially resumed operations at most of its manufacturing locations and some of the project sites.

🔹Greenply Industries: Supreme Court of India upheld the Special Leave Petition filed by the Union of India in civil appeal in respect of availing of area-based exemption under Central Excise.

🔹Prince Pipe & Fittings: Has resumed manufacturing operations at various locations where the restrictions have been eased.

🔹Pricol: Operations at two units in Coimbatore to resume from May 6.

🔹Jindal Stainless: Resumed its operations at its Jajpur plant in Odisha.

🔹Shilpa Medicare: Board approved establishing wholly-owned arms in Canada and Spain for business operations.

🔹Titagarh Wagons: Italian arm has started operations from May 4.

🔹Rallis India: Capacity expansion at Dahej slightly delayed amid Covid-19 lockdown.

🔹NIIT Tech: Revenue up 3.3 percent to Rs 1,109.3 crore in the current quarter. Net profit falls 7.9 percent sequentially while Ebitda margins were flat at 17.9 percent from 18.1 percent in Q3. The company reported an exceptional loss of Rs 12.8 crore this quarter. It has said that it has $468 million of firm business executable over the next 12 months. The company's board has also approved changing

🔹Non-Nifty Earnings Today: Adani Enterprises, Yes Bank, JM Financial, Kansai Nerolac, TCI Developers.

IMPORATANT NEWS 05/05/2020

2020-05-05T09:51:00.000+05:30

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IMPORATANT NEWS 05/05/2020

🔹Endurance Technologies: All operating arms in Italy except the foundry plant have resumed operations from May 4. Foundry plant expected to resume operations from May 11. All the plants shall gradually be ramping up operations to align with the off-take from their respective OEM customers.

🔹Non-Nifty Earnings Today: SBI Life Insurance, Astec LifeSciences, NIIT Technologies, Persistent Systems, Varun Beverages, Tata Coffee, Rallis India, Elantas Beck.

🔹Healthcare Global: Scottish Oriental Smaller Companies sold 4.52 lakh shares or 0.51 percent stake at Rs 77.08 per share in a bulk deal.
🔹Mindtree: Promoter Subroto Bagchi sold 1.34 lakh shares between April 29-30, as reported on May 4.

ASX 200 Begins Positive (+1.53%) After The Tech And Energy-Led Rebound On Wall St But With The Tone Relatively Quiet Due To Closures In Japan, South Korea And Mainland China; Focus Today Centres On The RBA Rate Decision; Hang Seng (+0.45%)

Pledged Share Details

🔸Sun Pharma: Promoter Raksha Valia created pledge of 3 lakh shares on April 30

🔸Emami: Promoter Bhanu Vyapaar created pledge of 10 lakh shares on April 28

Who’s Meeting Whom

🎯Manappuram Finance to meet Edelweiss AMC on May 5

🎯Mahindra & Mahindra to meet Aditya Birla Sun Life Insurance on May 5

Trading Tweaks

🔸Price Band Revised To 5 Percent From 10 Percent: Tata Communications, Panacea Biotec, Finotex Chemical

🔸Move Into ASM Framework: Sanco Industries

🔸Move Into Short-Term ASM Framework: India Nippon Electricals

🔸Move Out Of Short-Term ASM Framework: TV18 Broadcast, Kalpataru Power Transmission, Alkyl Amines Chemicals, Hinduja Global Solutions, TCPL Packaging, Asahi India Glass, Chalet Hotels, Prince Pipes And Fittings, Aster DM Healthcare, Capacit'e Infraprojects, Shankara Building Products, Max Ventures and Industries, Speciality Restaurants, Kiri Industries, Tanla Solutions, Mahindra Lifespace Developers, Vaibhav Global, Tourism Finance Corporation of India, KEI Industries, Welspun India, Muthoot Capital Services, Surya Roshni, Dhampur Sugar Mills, Balrampur Chini Mills, Aegis Logistics

Money Market Update

🔹The currency snapped a four-day gaining streak, ending at 75.73 against the U.S. Dollar as compared to Thursday's close of 75.1. This was the biggest one-day drop for the currency in a month.

Cues from the Asia Pacific will remain lacklustre in today's trading session as most equity markets remain shut on account of a holiday.

Futures in the United States are higher after a late-session advance led to a positive close on Wall Street.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 1.4 percent to 9,375 as of 6:55 a.m.

Godrej Properties is best-placed to capitalise on industry consolidation, CLSA says

Reliance Ind should be able to achieve its target to bring down net debt by Rs 1.5 lakh cr, CLSA believes

4Q | Jefferies revises EPS for Marico higher, factoring in higher margin for FY21

☀ Today (05.05.2020) foll cos. will declare Q4 results : Astec Life, Varun Beverages, Tata Coffee, Persistent Systems, SBI Life, Adani Ports, Rallis India
☀Tomorrow (06.05.2020) foll cos. will declare Q4 results : Kansai Nerolac, Yes Bank, TCI Developers, JM Financial, Adani Enterprises

CORONAVIRUS UPDATE: TOTAL NUMBER OF COVID19 POSITIVE CASES IN INDIA RISES TO 46433 INCLUDING 32134 ACTIVE CASES, 12727 CURED/DISCHARGED/MIGRATED AND 1568 DEATHS - MINISTRY OF HEALTH AND FAMILY WELFARE

ICICI BANK: SHARES UP 2.50% IN EARLY TRADE; CO TO CONSIDER RAISING OF FUNDS BY WAY OF ISSUANCE OF NCDS, NOTES, BONDS AND VARIOUS OTHER OPTIONS VIA PUBLIC, PRIVATE PLACEMENT ON MAY 9

CHINA, PRES. XI - BEIJING FACES A WAVE OF ANTI-CHINA SENTIMENT LED BY THE U.S. IN THE AFTERMATH OF THE PANDEMIC AND NEEDS TO BE PREPARED IN A WORST-CASE SCENARIO FOR ARMED CONFRONTATION BETWEEN THE TWO GLOBAL POWERS - RTRS

AXIS BANK: Rs 13.54cr NSE Block Trade; for ~330628 shares, at Rs 409.6

Stocks To Watch 05/05/2020

2020-05-05T09:47:00.000+05:30

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Stocks To Watch

🔹Marico: The company in a press release said that said it will take a step back from premiumisation initiatives in the short term. Preparatory work in terms of R&D and proposition building will continue behind the scenes. It has maintained its medium term aspiration of delivering 8-10 percent volume growth and 13-15 percent revenue growth. It also looks to maintain FY21 operating margins at FY20 levels. Company also said that it may maintain a 75-80 percent dividend pay-out ratio for the current fiscal year.

🔹Lupin: The company’s U.S. arm has announced positive top-line results from its pivotal Phase 3 clinical trial to assess efficacy and safety of single-dose Solosec which is used to cure trichomoniasis. Company now plans to submit a supplemental New Drug Application for Solosec to the U.S. FDA for the afore-mentioned treatment in the second half of calendar year 2020.

🔹ICICI Bank: To consider raising capital via debt on May 9.

🔹Colgate-Palmolive: The company has been allowed to resume operations at reduced capacity at all of its manufacturing plants to ensure supply of vital and essential oral health and hygiene products.

🔹Nath Bio-Genes: Has received 92 percent of the targeted seed production from the fields. Balance 8 percent expected to be received by May 15. All plants have become fully operational.

🔹Ceat: Has partially resumed operations at its plants in Nashik, Nagpur and Halol.

🔹Apollo Tyres: Operations at Chennai plant have partially opened. Operations in Kerala, Gujarat and Hungary had already resumed from April 25.

🔹Amber Enterprises: Has re-commenced operations at certain units from May 4.

🔹Container Corporation of India: Has handed over certain terminals which are built on the land taken on lease from the Railways. The turnover for these terminals stand at Rs 277.5 crore and the company has said that there won’t be any material impact.

🔹Automotive Axles: Has resumed its operations at Rudrapur and Mysore from May 4.

🔹Kirloskar Oil Engines: The company’s U.S. arm has commenced operations with effect from May 4.

🔹Saint-Gobain Sekurit: Chakan plant’s operations will remain suspended till May 17.

🔹Graphite India: Has started operations at three plants across West Bengal and Maharashtra. Company’s German arm to operate the specialty and coating operations in their plant.

🔹Thermax: Nalanda India Equity Fund increased the stake in the company by 0.83 percent to 5.44 percent on April 29.

🔹Bajaj Consumer Care: Has commenced operations at its Himachal Pradesh plant.

🔹Magma Fincorp: India Ratings and Research as placed the company’s bank facilities under Rating Watch Negative primarily due to the Covid-19 led lock-down which has a disproportionate impact on its asset quality.

🔹Jyothy Labs: Manufacturing plants have partially resumed their activities.

STOCKS TO WATCH 4/5/2020

2020-05-04T08:51:00.000+05:30

STOCKS TO WATCH,

🔥Good Morning All🔥

Stocks To Watch

🔹Reliance Industries : To raise Rs 53,125 crore via rights issue at Rs 1,257 per share which is a discount of 14 percent to the closing price on April 30. Rights entitlement ratio will be 1 equity share for every 15 equity shares held by eligible shareholders as on the record date. Promoter and promoter group of the company have confirmed they will subscribe to the full extent of their aggregate ri

🔹Reliance Nippon Life Insurance: The company has shared an update for FY20 where Total Individual Premium collection rose 4 percent to Rs 4,375 Crore. Embedded Value rose 20.4 percent to Rs 4,314 Crore. Net Profit was up 37.2 percent to Rs 35 crore. 13th Month Persistency stood 77.03 percent while AUMs were Rs 19,837 crore. Growth in embedded value on the back of sustained new business contribution

🔹State Bank of India: Fitch Ratings downgrades the viability rating by one notch to BB, citing the impact of Covid-19 on operating environment. The agency said that the downgrade reflects the heightened risks that weakening asset quality will post to its less-than-satisfactory loss-absorption buffers.

🔹ICICI Bank, Axis Bank, Bank Of Baroda: Fitch Ratings downgrades the viability rating by one notch to BB for ICICI and Axis while for Bank of Baroda, it is downgraded to BB-.

🔹IDFC First Bank: Approves capital raise of Rs 2,000 crore via preferential issue. Shares will be issued to IDFC, ICICI Prudential, HDFC Life, Bajaj Allianz Life and Dayside Investment which belongs to the Warbug Pincus group. IDFC Financial Holding has infused Rs 800 crore as part of the issue. Capital Adequacy Ratio to rise to 15.5 percent while CET-1 ratio will rise to 15.3 percent post the infu

🔹Central Bank of India: Has launched a scheme to assist all borrowing accounts availing fund-based working capital limits. Accounts which are classified as standard assets can avail emergency line of credit up to 10 percent of existing fund-based working capital limits, subject to a maximum of Rs 50 crore. The same is repayable in 18 EMIs with a moratorium of 6 months. This provision of additional

🔹Tata Motors: Fitch Ratings downgrades JLR's long-term issuer default rating and senior unsecured rating to B from B+. Both ratings have been removed from Rating Watch Negative. Outlook on the issuer default rating is negative.

🔹PNB Housing Finance: CRISIL re-affirms credit rating on borrowings and NCDs at AA and fixed deposits at AA+. Outlook has been revised to negative from stable. Rating on short-term NCDs is reaffirmed at A1+. The outlook reflects the delay in capital raise. The company also faces high risk of slippages in wholesale book due to the Covid-19 linked lockdown, weak economic activity and implications on

🔹Coal India: Coal production in April down 10.9 percent to 40.38 million tonnes while offtake falls 25.5 percent to 39.06 million tons.

🔹MOIL: The prices of all grades of Ferro, SMGR, fines and chemicals have been raised by 45 percent in May as compared to those in April 2020.

🔹NMDC: Iron Ore sales down 49 percent in April to 1.38 million tonnes while production falls 38 percent to 1.8 million tonnes.

🔹Westlife Development: ICICI Prudential Life Insurance increased its stake to 5.06 percent.

🔹CG Consumer Electricals: Has resumed operations at its Ahmednagar plant.

🔹Shriram City: The Board of Directors will meet on May 4 to consider raising funds through debt on a private placement basis for the purpose of business of the company

🔹Healthcare Global: To consider fund raising by issue of equity shares or other equity linked securities on a preferential basis on May 7.

🔹Adani Enterprises: To consider raising funds via issue of equity shares or convertible bonds through QIP and via issuance of NCDs on a private placement basis on May 6.

🔹Asian Paints: Has forayed into the hand and surface sanitizer category.

🔹IIFL Finance: To approve offer document to raise Rs 1,000 crore via NCDs on May 6.

🔹Prataap Snacks: Has started operations at its Indore plant.

🔹NACL Industries: Has started operations at its two plants in Andhra Pradesh.

🔹Gujarat Alkalies & Chemicals: Has started production at its Dahej complex.

🔹Lakshmi Vilas Bank: RBI has approved extension of tenure of interim CEO and Managing Director, Subramanian Sundar till May 31.

🔹Sobha: Manufacturing units of the company have started their operations.

🔹Blue Star: Board approved raising up to Rs 500 crore via NCDs. Company said that it plans to raise Rs 300 crore via issue of NCDs in the near-term to primarily finance working capital and capital expenditure.

🔹Laurus Labs: Board approved share split of one share into five shares and approved merger of two foreign arms with itself.

🔹Minda Corporation: Has partially resumed operations at its plants in Madhya Pradesh, Uttarakhand and Maharashtra.

🔹PNB Gilts: Board passed an enabling resolution for raising of funds through issue of commercial papers for an amount not exceeding up to Rs 1,000 crore.

🔹Gujarat Gas: India Ratings and Research upgraded company’s long term issuer rating worth Rs 3,200 crore to IND AA+ from IND AA. The outlook is stable.

🔹Century Enka: Has started operations at its Gujarat plant.

🔹Motillal Oswal: Case against MCX has been deferred to June, as reported

🔹SBI Life Insurance: F&O contracts to be introduced with effect from May 4.

🔹Marico: To report Q4 earnings today.

🔹Manappuram Finance: To meet GIC Singapore today.

IMPORATANT NEWS 4/5/2020

2020-05-04T08:49:00.002+05:30

IMPORATANT NEWS,

Insider Trading

🔸Birlasoft: Promoter SB Pandit sold 2.08 lakh shares on April 27

🔸Mindtree: Promoters sold 80,085 shares from April 28-29

Money Market Update

🎯The rupee ended with gains for the fourth straight day at Rs 75.1 against the U.S. Dollar as compared to Wednesday's close of Rs 75.67. This was the best week for the currency since December 2018.

Risk-off sentiment persisted across Asian Markets on Monday morning as U.S. equity futures continued to decline. Global stocks had ended April on a high after rebounding from their lows in March.

The U.S. Dollar has gained while the Pound, Euro along with the Australian Dollar are retreating. The Chinese Yuan has extended Friday's losses amid concerns that tensions with the U.S. are increasing.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.4 percent to 9,273 as of 6:55 a.m.

4Q| Marico likely to report a decline of 2-3% in domestic volumes. Lockdown impact to hurt sales of discretionary products. Adjusted net profit seen at Rs 192 Cr against Rs 213 cr on a YoY basis

4Q Macquarie also trims estimates for Tech Mahindra after Q4 results

CLSA seeing headwinds from slowed discretionary spends in Tech Mahindra’s enterprise segment

4Q | CLSA maintains Buy call on Reliance Ind with target being raised to Rs 1,770/Sh. It believes huge monetisation plans should help going forward

IMPORATANT NEWS 04/05/2020

2020-05-03T18:06:00.003+05:30

IMPORATANT NEWS 04/05/2020

Reserve Bank of India cancels the licence of The CKP Co-operative Bank Ltd., Mumbai.

letter assures #investors that Berkshire will be healthy & that succession planning is of the utmost importance

BERKSHIRE SELLS ENTIRE STAKES IN U.S AIRLINES - BUFFETT

BUFFETT SAYS BANKS ARE IN 'VERY GOOD SHAPE,' REFLECTING STRENGTHENED RESERVES AND BALANCE SHEETS FOLLOWING 2008 FINANCIAL CRISIS; ALSO SAYS 'I DON'T SEE SPECIAL PROBLEMS IN THE BANKING INDUSTRY NOW

BUFFETT SAYS BERKSHIRE HASN'T PROVIDED FINANCIAL SUPPORT TO COMPANIES AS IT DID DURING 2008 FINANCIAL CRISIS BECAUSE 'WE DON'T SEE ANYTHING THAT ATTRACTIVE

BUFFETT SAYS IF INTEREST RATES GO NEGATIVE, INVESTORS OUGHT TO OWN EQUITIES, OR AT LEAST 'SOMETHING OTHER THAN DEBT'

BUFFETT SAYS U.S. CORPORATE INCOME TAXES COULD RISE AT SOME POINT

SOUTH KOREA JOINT CHIEFS OF STAFF SAY MULTIPLE GUNSHOTS FIRED FROM NORTH KOREA HIT GUARD POST IN DMZ; NO INJURIES REPORTED

GODREJ AGROVET LTD: CO BOARD TO CONSIDER Q4, FY2020 RESULTS, FINAL DIVIDEND ON MAY 11, 2020

Jio-Facebook Partnership- A New Collaboration After Byju's, Meesho and Unacademy.

Stocks jumped more than 3 percent on Thursday on global market cues and on hopes of an imminent vaccine for Covid-19.

JioMeet video conferencing app will take on Google Meet and Zoom.

India reported 2,644 new COVID19 cases in the last 24 hours.

U.S. Fed actions in mid-March were impressive in speed and determination, says Berkshire Hathaway’s Warren Buffett.

This is the best time to buy stocks for the long term, says Berkshire Hathaway’s Warren Buffett.

Warren Buffett says he sold his entire stake in airlines

Warren Buffett hasn’t made a major acquisition in several years despite Berkshire Hathaway’s record cash pile. Buffett says it is because there hasn’t been anything 'that attractive'

Warren Buffett explains why he didn’t repurchase more Berkshire Hathaway shares during the sell-off in the first quarter

ADANI PORTS AND SPECIAL ECONOMIC ZONE: CO PROMOTERS GAUTAM S ADANI AND RAJESH ADANI ON BEHALF OF SB ADANI FAMILY TRUST HAVE RELEASED PLEDGE ON 5.66 CRORE EQUITY SHARES HELD IN THE COMPANY, COMPRISING ITS 2.78 PER CENT HOLDING

SOUTH KOREA JOINT CHIEFS OF STAFF SAY SHOTS FIRED FROM NORTH KOREA NOT DEEMED INTENTIONAL

Lockdown3 | Directives for work-place, social distancing & masks are must

One of our employees at Halol plant in Gujarat informed on April 30 that he has tested positive for COVID19. He was working in a small section of the plant and had limited contact with other employees. We have closed this section for deep cleaning: Sun Pharma

All his close co-workers have been identified & are undergoing self-quarantine for 14 days. All employees working in the affected section are being tested as per protocol. The operations at the plant continue with all safety and hygiene precautions: Sun Pharma

The employee who tested positive for coronavirus last attended office on April 24 and is currently receiving treatment and care at a hospital. We are offering full support to the employee and his family: Sun Pharma

Foreign portfolio investors withdrew a net Rs 15,403 crore from the Indian capital markets in April amid the #CoronavirusCrisis.
https://t.co/nfYcdLr8oQ

#JustIn | Maharashtra government allows standalone non essential shops including liquor shops to open in Mumbai, Pune region and Malegaon Municipal corporation region too.

TOWER TALK DATED 04 MAY 2020

2020-05-03T18:02:00.002+05:30

TOWER TALK DATED 04 MAY 2020

1. Jyothy Labs has launched Margo hand sanitizer. This FMGC deserves a place in every portfolio, especially at current low rates.

2. Bank of Baroda has approved raising up to Rs 13,500 cr. During the year to funds its expansion and business. Worth adding.

3. Clariant Chemicals: Manufacturing units/factories in Maharashtra, Gujarat and Tamil Nadu are back in partial operation with limited capacity. Positive for Company. Add.

4. Granules India has received US FDA approval for Trospium Chloride capsules. The Company is likely to get some more approvals soon. A good long term buy.

5. Sobha which has strong presence in Bangalore, Kerela, Delhi NCR, Chennai, Coimbatore, Mysore and Pune, is being accumulated by knowledgeable circles. Accumulate. The share has the potential to double in less than two years. Buy.

6. Sterlite Technologies is showing strong signs of breakout. The share has the potential to rise by 50% in the next few months. A safe investment idea.

7. Motherson Sumi (automobile componenets giant) is available at half its peak price. Rising volume are suggestive of a big recovery. Accumulate.

8. IB Ventures just refuses to go below Rs. 100/-. Rising volumes aret suggestive of buying at big buying at lower prices. Buy for big gains.

9. Nippon Life Insurance is witnessing big investment interest. The
entire sector is also expected to fare well. Start adding.

10. L&T has reported that it received orders over Rs. 30,000 Cr in the end period of March 20 and that could possibly point to better profitability in time to come. Add.

11. Pfizer (which has declared an interim dividend of Rs. 320/- per share payable on 8 May20) may surprise investors with a bonus issue this year. Its parent company is also close to a Corona virus drug. Add in small lots.

12. Bata India is showing signs of firming up on the bourses.

13. Axis Bank reported a loss of Rs. 1387 Cr in Q4 (v/s a profit of
Rs. 1504 cr in the previous year) on back of higher provisioning and covid related crises. However the bank is set to acquire nearly 30% of Max Life Insurance for Rs around 1,600 cr. Long term prospects remain strong. The bank also plants to raise or borrow Rs. 35,000
cr during the year. Sell now and review later before buying.

14. RIL has planned a massive rights issue, after 29 years to existing shareholders. This mini bonus should not be missed. The
Company is likely to soon become debt free. Add.

15. FMGC major Britannia continues to fare well. The present covid crises is making people add biscuit stocks at their homes and also prefer use of bread in times the flour mills also remaining closed. The share price can appreciate by 25% in the next six
months.

16. Indiabulls Housing Finance is showing signs of a breakout.
The pending court cases are also likely to be decided soon. Contrary to allegations, the Company continues to honor its debt commitments in a timely manner. It would be prudent to start adding in small lots.

17. HESTER Bio has claimed that it very near to making a Covid Vaccine. If it succeeds, it will witness a big bull run. Accumulate.

18. IOL Chemicals, the makers of Brufen, is reporting high
volumes. The entire pharma industry is also faring well. Add.

19. Biocon has the potential of becoming a money spinner. It also owns a chunk Syngene company shares. With so many biosimilars
in the pipeline, this a good share to add.

20. As planned, Polyplex has already started buying back its own
shares from open market, leading to rising prices. Post extinguishment of these shares, EPS will also rise as current workings are also excellent. Add.

21. Laxmi Vilas Bank is showing signs of a rebound amidst reports of strong hands picking up strategic state. The bank has a strong hold in South India. Risk bearing investors may enter cautiously...

IMPORTANT NEWS 02/5/2020

2020-05-02T18:15:00.001+05:30

NHPC planning to borrow Rs 2000 crore by raising of debt

M&M's Auto Sector sells 733 vehicles in export market during April 2020

SINGAPORE PREPARES TO EASE SOME CORONAVIRUS CURBS

RESERVE BANK GOVERNOR SHAKTIKANTA DAS HAS CALLED A MEETING WITH BANK CHIEFS ON SATURDAY TO TAKE STOCK OF THE FINANCIAL SECTOR AND DELIBERATE ON STEPS TO BE TAKEN TO BOOST INDUSTRY AMID THE COVID-19 CRISIS, SOURCES PTI

M&M's Farm Equipment Sector sells 4,716 units in India during April 2020

How low can interest rates go? Former RBI Deputy Governor Rakesh Mohan has a out-of-the-box idea that will work for both borrowers and depositors.

Zydus Cadila gets USFDA's tentative nod for Empagliflozin and Metformin Hydrochloride Tablets

Eicher Motors motorcycle arm reports 91 units sales in April 2020

Atul Auto sells 23 three wheeler automobiles in April 2020

MAHINDRA LOGISTICS LTD: CO BOARD APPROVES BORROWING RS. 250 CRORE

HDFC ASSET MANAGEMENT COMPANY LTD: CO BOARD TO ANNOUNCE Q4, FY20 RESULTS, DIVIDEND ON MAY 9, 2020

PRIME MINISTER NARENDRA MODI ON SATURDAY HELD A SERIES OF MEETINGS WITH KEY MINISTERS, INCLUDING HOME MINISTER AMIT SHAH AND FINANCE MINISTER NIRMALA SITHARAMAN, AND OFFICIALS OF ECONOMIC MINISTRIES TO FIRM UP THE SECOND STIMULUS PACKAGE FOR SECTORS

SPAIN CONFIRMS 1,147 NEW CORONAVIRUS INFECTIONS, A SIGNIFICANT DECLINE FROM YESTERDAY'S TALLY, BRINGING TOTAL CASES TO 216,582

Fitch Ratings affirms Axis Bank's IDR at 'BB+' with stable outlook

GOLDMAN SACHS SAYS "OIL FUNDAMENTALS ARE FINALLY SHOWING SIGNS OF IMPROVEMENT" AND SEES WTI OIL EXTENDING RELIEF RECOVERY TO $25 A BARREL

MEIN SCHIFF 3 CRUISE SHIP, DOCKED IN CUXHAVEN, GERMANY, PLACED IN QUARANTINE AFTER CREW MEMBER TESTS POSITIVE FOR CORONAVIRUS; ALMOST 3,000 CREW ARE ABOARD: NDR

U.S UPDATE - PRESIDENT TRUMP

2020-05-02T18:13:00.001+05:30

🌟 U.S. VICE PRESIDENT PENCE SAYS THE 1 MILLION VIALS OF REMDESIVIR WILL START BEING DISTRIBUTED TO HOSPITALS ON MONDAY

🌟 U.S. PRES. DONALD TRUMP SAYS WORKING WITH FEMA TO MAKE SURE DRUG GETS TO PATIENTS

🌟 U.S. PRESIDENT TRUMP SAYS GILEAD NOW HAS RECEIVED EMERGENCY AUTHORIZATION FROM FDA FOR REMDIVISIR

🌟U.S. CDC REPORTS ITS COUNT OF 1,062,446 CASES OF NEW CORONAVIRUS AS OF PREVIOUS DAY AT 4 PM ET VS PREVIOUS REPORT OF 1,031,659 CASES ON APRIL 30

🌟U.S. CDC - 62,406 TOTAL DEATHS DUE TO NEW CORONAVIRUS AS OF PREVIOUS DAY AT 4 PM ET VS 60,057 DEATHS AS OF PREVIOUS REPORT ON APRIL 30

🌟CORONAVIRUS: UK GOVT TESTING ADVISER NEWTON SAYS WE ARE W
ORKING TO UNDERSTAND REAL UNDERLYING RISKS FOR DIFFERENT GROUPS

🌟CORONAVIRUS: UK GOVT TESTING ADVISER NEWTON SAYS WE ARE WORKING TO UNDERSTAND REAL UNDERLYING RISKS FOR DIFFERENT GROUPS

SGX NIFTY DOWN today

2020-05-01T16:54:00.001+05:30

Nifty HIGH ON Thursday 9889 🔸SGXNIFTY currently trading @ 9315 -515

💫Reliance has announced the biggest rights issue of any Indian company in history, of Rs. 53,125 crore from its shareholders. The board has approved the issuance of equity shares of Rs 10 each of the company on rights basis to eligible equity shareholders.

💫Markets closed higher today, boosted by a promising COVID19 treatment drug from Gilead and the US Federal Reserve committing to ensuring market liquidity. Largecaps including Infosys, HDFC Bank and Reliance jumped. Nifty 50 closed at 9851.85 (298.5, 3.1%) , BSE Sensex closed at 33717.62 (997.5, 3.1%) while the broader Nifty 500 closed at 8008.05 (210.9, 2.7%). Market breadth is in the green. Of the 1619 stocks traded today, 905 showed gains, and 629 showed losses.

💫Apollo TriCoat Tubes gained on March quarter results

💫SBI Mutual Fund buys shares in Page Industries.

💫Auto and auto-ancillary stocks are among the top gainers today in the market recovery as investors hope for a quick reopening and recovery from the pandemic.

💫Axis Bank gets multiple BUY calls post March quarter results from HDFC Securities, Nirmal Bang, IDBI Capital and BOB Capital.

💫Reliance Industries is set to announce results today, and investors will be closely watching for details of the planned rights issue and Facebook-Jio deal. There has been a dearth of news on the Saudi Arabia Aramco deal, and there will be questions from analysts on this as Saudi Arabia faces a cash crunch amid falling oil prices.

💫JustDial has jumped today after the Board has approved a buyback, representing 4.84% of the total paid-up equity share capital at a maximum price of Rs. 700/- per share.

💫Hindustan Unilever results are due today, and analysts are expecting positive profit growth with the company riding on essential sales in the latter half of March.

💫JustDial is rising today as its Board meets to consider a buyback of shares.

💫Markets are trading higher on optimism over coronavirus treatments, with Gilead reporting positive recovery results for its drug Remdesivir in Phase 3 human trials. Nifty 50 was trading at 9780.55 (227.2, 2.4%) , BSE Sensex was trading at 33620.48 (900.3, 2.8%) while the broader Nifty 500 was trading at 7966.90 (169.7, 2.2%). Market breadth is overwhelmingly positive. Of the 1441 stocks traded today, 1144 showed gains, and 220 showed

PM Modi held a "comprehensive" meeting to discuss strategies to attract more foreign investments into India

Rishi Kapoor, who was diagnosed with leukemia in 2018, died in a Mumbai hospital today, aged 67.

Govt sources says GST Collections for the month of March, recorded in April slip to Rs 28,309 cr as of April 29

Reliance Jio's net profit rises 72.7% quarter-on-quarter.

7% decline in HUL's Q4 underlying volumes growth.

Tech Mahindra's Q4 net profit is down 29.8% QoQ.

RIL says will become net debt free ahead of March 2021 timeline

Ril-says-will-become-net-debt-free-ahead-of-march-2021-timeline-5814671.htm

Maharashtra COVID19 Update | Total coronavirus cases cross 10,000, Total cases now at 10,498.

Addition of 583 new cases in last 24 hours.

RILResults | Reliance’s annual EBITDA crosses Rs 1 lakh cr-mark for the first time.

Co also sees record annual revenue rise of 40.7% for digital services and 24.8% for retail biz

INDIA CORONAVIRUS UPDATE: TODAY CASES AT 1800 NEWLY ADDED VS 1705 PREVIOUS: COVID DATA TRACKER

SGX NIFTY DOWN 328 POINTS AT 9520

Nifty HIGH ON Thursday 9889 🔸SGXNIFTY currently trading @ 9315 -515

Reliance to carve out its oil and petrochemicals business into a separate entity before a stake sale to Saudi Arabian Oil.

Rebroadcast of #Ramayana on #Doordarshan smashes viewership records worldwide, the show becomes most watched entertainment show in the world with 7.7 crore viewers on 16th of April https://t.co/edmfMGMDj9

RIL declared the much-awaited details of its rights issue, which is not only India’s largest but the company’s first in nearly three decades

STOCK MARKET IMPORTANT NEWS

2020-05-01T16:49:00.002+05:30

☀

1. Even As Covid-19 Cases Cross 33,000 ON 30/4/2020, Government Says Recovery Rate Improving

The total number of confirmed Covid-19 cases in India crossed the 33,000-mark as the government said it will soon come out with details of easing the lockdown from May 4.

🔸India reported 1,823 new cases over the last 24 hours, taking the total tally to 33,610 cases.

🔸So far, 8,373 have recovered while 1,075 have died in the country due to the infection.

🔸In the last 24 hours, 576 patients have recovered while 67 have died.

🔸Last night, India's home ministry said that new lockdown guidelines will be put in place from May 4 that will offer "considerable relaxations" to "many" districts.

🔸The health ministry today said that 78 percent of the patients who've died had co-morbid conditions.

🔸It said that more than half of the deaths have been among patients over 60 years of age.

🔸It added that 65 percent of the fatalities have been males.

🔸The government said the recovery rate of Covid-19 patients has improved to nearly 25.2 percent, from about 13 percent a fortnight ago.

🔸Globally, cases topped 32 lakh leaving over 2.27 lakh people dead.

🔸Britain will likely miss its daily testing target.

🔸Japanese Prime Minister Shinzo Abe signalled that he plans to extend a national state of emergency.

2. RIL Announces Biggest Ever Rights Issue...

Reliance Industries Ltd. will raise close to Rs 53,125 crore via a rights issue, the biggest ever, as India’s most valued company looks to strengthen its balance sheet.

🔸The owner of the world’s largest oil refinery will issue more than 41 crore equity shares at Rs 1,257 apiece, according to an exchange filing.

🔸The rights issue—shares offered at a special price to existing shareholders in proportion to their ownership of old shares—is priced at a discount of 14.3 percent to closing price on April 30, and will lead to an equity dilution of 6 percent on the expanded equity base.

🔸The total equity base will increase to 675 crore.

RIL..............Continued

Mixed Earnings

Reliance Industries reported its steepest drop in quarterly profit in at least 13 years as its mainstay refining unit was hurt by lower sales and margins due to the collapse of crude oil prices.

🔸Net profit fell 73 percent sequentially to Rs 2,580 crore.

🔸Gross refining margins stood at $8.9 per barrel.

🔸Exceptional loss of Rs 4,245 crore related to inventory loss.

Reliance Jio Infocomm Ltd.’s profit surged in the quarter ended March, aided by tariff hikes and an exceptional gain.

🔸Net profit jumped 72.7 percent over the previous quarter to Rs 2,331 crore.

🔸RPU rose to Rs 130.6 from Rs 128 earllier.

And Pay Cuts

RIL also announced pay cuts for employees in its hydrocarbons business with Chairman Mukesh Ambani forgoing his entire salary till the ongoing Covid-19 pandemic abates.

🔸The board of directors and all other senior executives of the company will take a 30-50 percent reduction in their salaries, RIL said in an internal note to its staff.

🔸Employees in the oil and gas unit earning over Rs 15 lakh per annum will take a 10 percent pay cut; those below this threshold will remain unaffected.

3. HUL’s Q4 Volumes Contract, But 70% Capacity Is Back Online

Hindustan Unilever Ltd.’s quarterly profit missed estimates and volumes contracted more than anticipated as demand fell due to the Covid-19 lockdown.

🔸Profit fell 1.2 percent year-on-year to Rs 1,519 crore.

🔸Revenue fell 9.4 percent to Rs 9,011 crore

🔸Sales volumes fell 7 percent compared with the consensus estimate of -4 to 4 percent.

🔸This fall in sales was largely due to a disruption in supply in March, Chairman and Managing Director Sanjiv Mehta said after the earnings.

🔸The company’s production, he said, fell to zero for seven days after March 25—implementation of phase 1 of the nationwide lockdown.

🔸It has now come up to 70 percent of capacity, Mehta said.

4. Nifty Marks Best Month Since 2009; U.S. Stocks Slump

Indian equity markets ended the truncated week on a high, ending with gains for the fourth straight day, its longest winning streak since February this year.

🔸The S&P BSE Sensex gained nearly 1,000 points in today's session, ending 3 percent higher at 33,717.

🔸For the week, the index was up 7.6 percent. 27 out of the 30 index constituents ended with weekly gains.

🔸The NSE Nifty 50 index ended 3.2 percent higher at 9,859. 44 out of the 50 index constituents ended with gains.

🔸The index was up 7.7 percent this week.

🔸Both benchmark indices have posted their best monthly gain since April 2009, registering gains of over 14 percent each.

U.S. and European stocks slumped amid dire economic warnings, more dismal data and corporate results that showed the coronavirus’s toll on businesses.

🔸The S&P 500 Index fell from a seven-week high as the latest U.S. unemployment figures showed a larger-than-expected jump in claims.

🔸Strong results from Microsoft Corp., Facebook Inc. and Tesla Inc. limited losses on the tech-heavy Nasdaq gauges, and sentiment also got a boost from the Federal Reserve’s plan to expand the scope of its Main Street Lending Program.

🔸The Stoxx Europe 600 Index fell amid a barrage of bad economic readings and after European Central Bank President Christine Lagarde said the euro-area economy could shrink 12 percent this year.

🔸Crude futures jumped for a second day on signs fuel consumption is starting to recover in the world’s biggest economies.

5. Behind UPL’s Biggest Surge In Six Years

Shares of UPL Ltd. rose the most in six years after the maker of agrochemicals said it expects debt to reduce by 31 percent quarter-on-quarter in the three months ended March.

🔸The company expects its debt at $2.9 billion as on March 31, down $900 million from a year earlier and $1.3 billion since December, according to its exchange filing.

🔸That’s a more than Rs 9,400 crore in a quarter, higher than what the street anticipated. Jefferies in a report released today said it expected UPL’s overall debt to fall by Rs 2,300 crore in the entire 2019-20.

🔸The debt had risen after the acquisition of Arysta LifeScience.

6. Stocks That Foreigners Offloaded During Pandemic

Overseas investors pared shareholding in Indian companies in their worst selloff in the domestic equity market on fears that the coronavirus pandemic will cause a recession.

🔸Of the 30 Nifty 50 constituents that have disclosed foreign shareholding as of March-end, 27 reported a decline in overseas ownership since December, according to data compiled

🔸Eicher Motors Ltd. — the maker of the Royal Enfield motorcycle — witnessed the sharpest cut, followed by Tata Steel Ltd., Axis Bank Ltd. and ICICI Bank Ltd.

🔸On the other hand, foreign holding in Zee Entertainment Enterprises Ltd., Dr. Reddy’s Laboratories Ltd. and Wipro Ltd. rose marginally during the period.

7. NBFCs Brace For Refinancing Test

India’s non-bank lenders are set to face higher interest costs as borrowings come up for refinancing this year. Risk aversion among Indian investors and lenders, despite record-high levels of liquidity, will mean that at least some of these non-bank financial companies and mortgage lenders may see higher borrowing costs.

🔸According to data from Bloomberg, the top ten NBFCs and HFCs have Rs 91,674 crore in bonds and loans maturing between May and September this year.

🔸Of this, Rs 64,794 crore in borrowings is through corporate bonds.

🔸Housing Development and Finance Corporation Ltd. has around Rs 32,000 crore in bonds maturing by September, followed by LIC Housing Finance Ltd. at Rs 15,300 crore, L&T Financial Holdings at over Rs 8,580 crore and Bajaj Finance Ltd. at a little under Rs 8,300 crore.

8. Coming Soon: Gold Loans Rush?

Indians may borrow more against their stash of gold as the world’s biggest lockdown raises financial stress in an economy that’s set for its first contraction in four decades.

🔸With economic activity coming to a virtual standstill after Prime Minister Narendra Modi ordered a 40-day nationwide lockdown to combat the coronavirus, more Indians are likely to turn to gold loan companies to raise money against the precious metal.

🔸“Recycling and collateralized loans against gold may be expected to grow exponentially in the next few quarters,” P.R. Somasundaram, managing director for India at the World Gold Council

UPDATE : MORE NEWS.. 30/4/2020

2020-04-30T11:49:00.001+05:30

Rajasthan has increase the Excise duty on Liquor and beer.
The additional fee has been increased from 25% to 35% for IMFL with EDP below Rs 900, and from 35% to 45% for IMFL with EDP of Rs 900 or above.
The additional excise duty on beer has also been increased from 35% to 45%

CORONAVIRUS UPDATE: INDIA REPORTS MORE CASES OF NOVEL CORONAVIRUS, TALLY AT 33,050 RESULTING IN 1,074 DEATHS

SUN PHARMA: CO HAS SUBMITTED A PROPOSAL TO THE GOVT TO CONDUCT PHASE II CLINICAL TRIALS OF THE DRUG TO SEE IF IT CAN TREAT PATIENTS SUFFERING FROM COVID-19

TATA MOTORS: Rs 27.59cr NSE Block Trade; for ~3210500 shares, at Rs 85.95

DR. REDDY"S: US BASED GILEAD SCIENCES IS LIKELY TO ANNOUNCE VOLUNTARY LICENCE AGREEMENTS WITH DR REDDYS TO PRODUCE GENERIC VERSIONS OF REMDESIVIR TO TREAT COVID19 PATIENTS

CRISIL ECONOMIST: INDIA GOVT MUST ANNOUNCE MEASURES FOR BUSINESSES, PARTICULARLY SME VIA DIRECT SUPPORT AND GUARANTEE

AXIS BANK: Rs 16.29cr NSE Block Trade; for ~355589 shares, at Rs 458

IMPORTANT Market News from NEWSPAPER & Update 30/4/2020

2020-04-30T08:18:00.005+05:30

🔥Good Morning All🔥
🌟 Exclusive Morning Market News & Update

Stocks To Watch

💫M&M Financial Services: Manulife Investment Management (Singapore) acquired 49 percent stake in the company’s two wholly-owned arms Mahindra Asset Management and Mahindra Trustee. Share Agreement was executed on June 21, 2019. Manulife has invested Rs 265 crore in the 51:49 joint venture.

💫Tata Motors: Jaguar Land Rover has restored three-fourth of its budgeted production in China, as reported

💫Bajaj Finance: Allotted NCDs worth Rs 200 crore.

💫AU Small Finance Bank: To consider raising funds via share issue on May 2.

💫Axis Bank: Has reappointed Rakesh Makhija as an independent director.

💫Polycab: To consider proposal for investment / acquisition of shares on May 2.

💫Britannia: Has paid Rs 21.7 lakh to SEBI for settlement of non-disclosure case of Ness Wadia’s arrest.

💫Bharti Airtel: Clarified that it has renewed its relationship with Nokia to boost its network capacity and customer experience and the announcement in this regard was made by Nokia only.

💫Varroc Engineering: Ashwani Maheshwari resigned from the post of CEO with effect from April 29.

💫Suven Pharma: Clarified that damages worth Rs 17 crore have been fully insured against the fire which took place at the company’s research and development lab in Jeedimetla. There has been no impact on the operations of the said unit.

💫TD Power Systems: Has partially resumed its operations.

💫Indian Bank: Has reduced MCLR by 30 basis points across various tenors with effect from May 3. One-Month MCLR now at 7.55 percent while one-year MCLR at 7.8 percent.

💫Punjab & Sind Bank : Board to seek shareholders nod raise Rs 500 crore via QIP route on May 5.

💫Non-Nifty Earnings Today: Aditya Birla Money, Laurus Labs, Apollo Tricoat Tubes, SIS India, ABB Power Products.

Pledged Share Details

🔹Jagran Prakashan: Promoters created pledge of 18.28 lakh shares on April 21

🔹Embassy Office Parks REIT: Promoter Embassy Property Developments created pledge of 4.12 crore units on April 29

🔹DB Corp: Promoter DB Consolidated created pledge of 37.48 lakh shares on April 29

Who’s Meeting Whom

✴ Manappuram Finance to meet Hosking Partners, Equirus Capital and TA Associates between April 30-May 5

✴Eicher Motors to meet Kotak MF, Sloana Robinson and other investors between April 30 to May 1

Trading Tweaks

⭐ Move Into Short-Term ASM Framework: Eros International Media

⭐Move Out Of Short-Term ASM Framework: GNA Axles, Shanthi Gears, IFB Industries, Dhanlaxmi Bank, Venky's , Kirloskar Industries, Alphageo, Sundram Fasteners, Tilaknagar Industries, Everest Kanto Cylinder, Veto Switchgears And Cables, NRB Bearing, Suven Pharmaceuticals

Insider Trading

🔹Linde India: Promoter BOC Group sold 25,276 shares on April 27

🔹Birlasoft: Promoters acquired 2.5 lakh shares on April 27

🔹Mahindra CIE Automotive: Promoter Participaciones Internacionales Autometal acquired 84,851 shares on April 27

🔹SBI Cards and Payment Services: Promoter SBI Life Insurance sold 15,550 shares between April 9-28

Money Market Update

🎯The currency ended stronger at 75.67 against the U.S. Dollar on Wednesday as compared to Tuesday's close of 76.18.

🎯The rupee was the third best performing currency among Emerging Market peers

🎯The currency gained for the third straight day, its best winning streak in a month.

Markets across Asia are rising on the final day of the month amid signs of progress in the treatment of Covid-19.

Global equities are poised for their biggest monthly gain since 2009 after posting one of their worst months on record in March.

The U.S. Dollar has held declines for the week while oil futures continue to rebound in a choppy week of trade.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 1.3 percent to 9,681 as of 6:55 a.m.

Asia Takes Impetus From Wall St Where Sentiment Was Underpinned By Coronavirus Treatment Hopes After Preliminary Results Related To Gilead's Remdesivir And Amid Encouraging Tech Earnings, Focus Now Shifts To

Today's Top News☀ 29/4/2020

2020-04-29T21:42:00.000+05:30

☀ Exclusive Today's Top News☀

1. Covid-19: India Allows Stranded Workers Home To Head Home

The total number of confirmed Covid-19 cases in India moved closer to the 32,000-mark as the country nears the scheduled end of a 40-day on Sunday. More than 1,000 people have died because of the virus in the country.

🔹India added 1,813 new cases of Covid-19 over the last 24 hours, taking the total tally to 31,787, according to the health ministry’s 5 p.m. update.

🔹This includes 1,008 deaths and 7,797 patients who recovered.

🔹Over the 24 hours, there have been 71 deaths and 770 recoveries.

🔹Meanwhile, the Indian government has ordered states and union territories to facilitate the inter-state movement of stranded people including migrant labourers in the country.

🔹Those travelling back home will have to be assessed by local health authorities and kept in home quarantine folllowing their arrival.

🔹The state of Punjab has extended curfew restrictions for two more weeks.

Globally, coronavirus cases crossed 31 lakh leaving over 2.17 lakh people dead.

🔹France and Spain took cautious steps toward reopening, while new cases rose for the first time in three days in Germany as the government weighs removing more curbs.

🔹Fatalities in the Netherlands rose to 4,711, surpassing the official tally of in mainland China.

🔹Malaysia reported the highest daily increase in new cases since April 16 due to infections among people who returned from overseas.

2. Risk Aversion Across Banks Delays Relief To Economy

Burdened with an already elevated level of bad loans—a legacy of imprudent lending nearly a decade ago—banks are not willing to take the risk of a further deterioration in asset quality. Some increase in bad loans is inevitable given the weakness in the economy and lenders are trying to keep this in check.

🔹The extent of risk aversion seen across banks is perhaps best encapsulated in this one data point.

🔹Banks are parking more than Rs 7 lakh crore at RBI’s reverse repo window, earning just 3.75 percent on it.

🔹So much so, that the RBI may now need to a open a new window, known as the Standing Deposit Facility, through which is accepts excess bank reserves at much lower rates without offering collateral in return.

3. U.S. Economy Shrinks; Focus Shifts To Fed’s Next Steps

The record-long U.S. economic expansion is over. Gross domestic product contracted at a 4.8 percent annualised rate in the January-March period, the largest drop since 2008, according to Commerce Department data released Wednesday.

🔹The median projection in survey of economists had called for a 4 percent drop.

🔹With estimates for a second-quarter contraction that would be a record in data going back to the 1940s, the first-quarter figures effectively confirm that a recession has begun, ending the expansion that began in mid-2009 in the wake of the global financial crisis.

With interest rates near zero, Federal Reserve policymakers are likely to turn attention to other steps they could take to ensure a strong U.S. economic rebound once the coronavirus lock-down ends.

🔹The Federal Open Market Committee is all but certain to keep its benchmark overnight rate in a target range of 0-.25 percent, where it was lowered at an unscheduled FOMC on March 15 to help soften the pandemic’s blow.

🔹Powell can expect questions on whether the Fed is prepared to expand the scope of some of its lending programs, provide assistance to specific industries, and is it considering yield-curve targeting, among other topics.

4. U.S. Stocks, Oil Rally; Nifty Gains For Third Day

U.S. stocks advanced amid renewed hopes for a drug to fight the coronavirus, helping investors shrug off data showing the biggest economic contraction since 2008 in the first quarter.

🔹The S&P 500 Index climbed more than 2 percent after Gilead Sciences Inc. said that its experimental drug to treat coronavirus helped patients recover faster.

🔹Big tech shares added to the rally, with Google parent Alphabet Inc. pacing gains after posting better-than-estimated sales.

🔹WTI oil futures rebounded after plunging 27 percent in two sessions.

Indian equity markets gained for the third day in a row, its best winning streak in a month, tracking positive cues from Europe and from futures in the United States.

🔹The S&P BSE Sensex ended 1.9 percent higher at 32,720, taking its weekly advance to 4.5 percent.

🔹The NSE Nifty 50 index ended above the 9,500 mark at 9,553, up by 1.8 percent. The benchmark is up 4.3 percent this week.

🔹Thirty eight out of the 50 Nifty stocks ended the day with gains.

🔹Among sectoral indices, the Nifty Metal index ended as the top sectoral gainer with gains of 3.75 percent.

🔹Hindustan Unilever fell as much as 2.5 percent in trade after Bloomberg reported that GlaxoSmithKline Plc will offload its entire stake in the company.

5. After Franklin Templeton’s Wind-Down, Credit Risk Schemes See Outflows

🔹Investors have started exiting credit schemes as Franklin Templeton Mutual Fund’s decision to freeze six such plans on liquidity concerns has triggered fresh turmoil in India’s debt market.

🔹Multiple fund houses have seen a contraction in assets under credit schemes since April 24 when Franklin Templeton announced that it is winding down its schemes, according to data released by Association of Mutual Funds in India.

🔹Kotak, Aditya Birla Sun Life and HDFC mutual funds are among the firms that have seen assets under credit schemes fall by more than 20 percent during the period.

6. Vodafone Idea Gets Some Relief From Supreme Court

The Supreme Court has directed the revenue department to release Rs 733 crore in tax refunds to Vodafone Idea Ltd.

🔹The telecom major had however moved court for release of tax refunds worth Rs 4,759 crore.

🔹On the other hand, Vodafone Idea had relied on previous Supreme Court decisions and tax law provisions to say all refunds have to be processed within one year unless it’s detrimental to the department’s interests.

🔹Since no correspondence from the revenue department was received in this time period, the company has the right to claim refund.

But the apex court noted that the tax department had followed the statutory requirements in issuing notices to Vodafone.

7. Court Stays Interim Relief For Indiabulls Housing

The Delhi High Court stayed an interim relief granted by its lower bench to Indiabulls Housing Finance Ltd. from any coercive action if the non-bank lender fails to make payments to its debenture holders.

🔹The April 15 order of the single-judge bench was appealed before the division bench by the Mutual Funds Association of India, Securities and Exchange Board of India and IDBI Trusteeship Services Ltd.

🔹The two-judge bench comprising Justice Siddartha Mridul and Justice Talwant Singh has now listed the case for final arguments on May 4, Abhishek Baid, counsel for IDBI Trusteeship, told

Markets closed higher. Nifty 50 closed at 9536.80 (155.9, 1.7%) , BSE Sensex closed at 32720.16 (605.6, 1.9%) while the broader Nifty 500 closed at 7786.95 (114.5, 1.5%)

Market breadth is in the green. Of the 1617 stocks traded today, 959 were gainers and 574 were losers.

💫HDFC Securities is a BUY on IndusInd Bank and Ambuja Cements post results.

💫Hexaware is rising today after posting results showing 26.3% YoY net profit growth, and 25.4% YoY revenue growth.

💫Bandhan Bank, TCI Express among top afternoon gainers in markets today.

💫While Hindustan Unilever is expected to see a good quarter in its food and essential items vertical, its home and beauty products are likely to see a hit in Q4, bringing overall volumes down, analysts say.

💫While parent company Reliance is likely to struggle with historically low refining margins, Reliance Jio is expected to deliver a strong performance in Q4 on subscriber addition as well as earnings improvement from tariff hikes.

💫Markets are higher in morning trade. Nifty 50 was trading at 9453.00 (72.1, 0.8%) , BSE Sensex was trading at 32368.95 (254.4, 0.8%) while the broader Nifty 500 was trading at 7728.70 (56.3, 0.7%). Market breadth is in the green. Of the 1397 stocks traded today, 870 were gainers and 436 were losers.

WORLD MARKET NEWS 29/4/2020

2020-04-29T21:40:00.001+05:30

RUSSIA'S NOVAK SAYS RUSSIAN OIL OUTPUT SEEN DOWN BY 10% IN 2020

RUSSIA'S NOVAK SAYS OIL WELLS DRILLING SHOULD BE FINANCED IN ORDER TO RESTART DRILLING ONCE CURBS ARE OVER

RUSSIA'S NOVAK SAYS HIGH OIL STORAGES PLAYS INTO UNCERTAINTY OVER GLOBAL ECONOMIC RECOVERY || SAYS GASOLINE DEMAND IN RUSSIA HAS FALLEN BY 40-50% IN APRIL SO FAR

Markets end at the highest levels since March 13 in trade led by gains in HDFC, HDFC Bank, TCS, ICICI Bank.

INDIA CHIEF ECONOMIC ADVISER: WORKING ON PROVIDING SIGNIFICANT LIQUIDITY, THEREBY TAKING CARE OF CASH FLOW NEEDS

INDIA FARM MINISTER: WHEAT HARVESTING TO BE FULLY COMPLETED BY NEXT WEEK|| WHEAT PROCUREMENT AT 11.7M TONS SO FAR || PULSES, OILSEEDS HARVESTING COMPLETED

INDIA NITI AAYOG MEMBER RAMESH CHAND: AGRI MARKETS INTACT, PRICES HAVE NOT CRASHED || EXPECT FARM SECTOR GROWTH OF AT LEAST 3% THIS FY

GERMAN GOVERNMENT SPOKESWOMAN: WILL BE NO DECISIONS ON STIMULUS MEASURES DURING MERKEL CALL WITH AUTO EXECUTIVES ON MAY 5

SINCE THE LAST 3 DAYS, THE DOUBLING RATE IS 11.3 DAYS IN THE COUNTRY. ALTHOUGH THE GLOBAL MORTALITY RATE IS AROUND 7%, INDIA IS HAVING A MORTALITY RATE OF AROUND 3% & AROUND 86% OF FATALITY OF PERSONS WITH CO-MORBIDITY: DR. HARSH VARDHAN, INDIA MINIS

CORONAVIRUS UPDATE: INDIA - 10 NEW COVID19 CASES HAVE BEEN REPORTED IN KERALA TODAY. THIS INCLUDES 3 HEALTH WORKERS & A JOURNALIST. TOTAL ACTIVE CASES IN THE STATE STAND AT 495 WHICH INCLUDES 123 ACTIVE CASES: KERALA CM PINARAYI VIJAYAN

☀ ONLY 0.33% PATIENTS ARE ON VENTILATORS, 1.5% PATIENTS ARE ON OXYGEN SUPPORT AND 2.34% PATIENTS ARE IN ICU, WHICH REFLECTS THE QUALITY OF CARE BEING PROVIDED ACROSS THE COUNTRY: DR. HARSH VARDHAN, INDIA MINISTER OF HEALTH
✴288 GOVT LABS WORKING ALONG WITH 97 PRIVATE LAB CHAINS WITH AROUND 16,000 SAMPLE COLLECTION CENTRES&TESTING AROUND 60,000 TESTS PER DAY. INDIA GOVT IS WORKING TO INCREASE TESTING CAPACITY TO 1 LAKH TESTS PER DAY WITHIN NEXT FEW DAYS: DR. HARSH VARDHA

Supreme Court has directed the revenue department to release Rs 733 crore in tax refunds to Vodafone Idea, @PayaswiniLLB reports.

GlaxoSmithKline prepares to start a sale of its $3.7 billion stake in Unilever’s listed India unit.

CORONAVIRUS UPDATE: INDIA - WITH 1813 NEW CASES & 71 DEATHS REPORTED IN THE LAST 24 HOURS, THE TOTAL NUMBER OF COVID-19 POSITIVE CASES IN INDIA RISES TO 31787 (INCLUDING 22982 ACTIVE CASES, 1008 DEATHS, 7797 CURED/DISCHARGED AND 1 MIGRATED): INDIA HE

FII BUY NET INR 722.08 CR OF INDIA SHARES TODAY || DII BUY NET INR 78.67 CR

INDIA HOME MINISTRY ISSUES DIRECTIONS ON MOVEMENT OF PERSONS DURING LOCKDOWN || STATES SHOULD DEVELOP PROTOCOLS FOR RECEIVING, SENDING STRANDED MIGRANT WORKERS, TOURISTS AMID LOCKDOWN

Punjab Chief Minister Amarinder Singh announced extension of curfew in the state by two weeks after May 3

Ministry of Home Affairs (MHA) allows movement of migrant workers, tourists, students stranded at various places

U.S. economy shrinks at 4.8% pace, signaling start of recession

CORONAVIRUS UPDATE: INDIA - MUMBAI: DHARAVI REPORTS 14 NEW CASES BRINGING THE TALLY TO 344 CASES INCLUDING 18 DEATHS

FII BUY NET INR 722.08 CR OF INDIA SHARES TODAY || DII BUY NET INR 78.67 CR

☀ GILEAD SCIENCES INC - AWARE OF POSITIVE DATA EMERGING FROM NIAID'S STUDY OF INVESTIGATIONAL ANTIVIRAL REMDESIVIR FOR TREATMENT OF COVID-19
☀GILEAD SCIENCES INC - AWARE OF POSITIVE DATA EMERGING FROM NIAID'S STUDY OF INVESTIGATIONAL ANTIVIRAL REMDESIVIR FOR TREATMENT OF COVID-19
☀GILEAD SCIENCES - SEES DATA AT END OF MAY FROM 2ND SIMPLE STUDY EVALUATING 5- AND 10-DAY DOSING DURATIONS OF REMDESIVIR IN PATIENTS WITH MODERATE COVID-19 DISEASE
☀GILEAD- PATIENTS IN REMDESIVIR TRIAL ACHIEVED CLINICAL RECOVERY IF THEY NO LONGER REQUIRED OXYGEN SUPPORT & MEDICAL CARE

CORONAVIRUS: 445 MORE DEATHS IN ENGLAND - SUN NEWSPAPER

CORONAVIRUS: ENGLAND'S HOSPITAL DEATH TOLL RISES TO 19,746 FROM 19,301 THE PREVIOUS DAY

CORONAVIRUS UPDATE: INDIA - 16 FRESH CASES OF COVID-19 REPORTED IN JAMMU AND KASHMIR, STATE TALLY REACHES 581: OFFICIALS

CORONAVIRUS: ENGLAND'S HOSPITAL DEATH TOLL RISES TO 19,746 FROM 19,301 THE PREVIOUS DAY

Gilead Sciences Inc.’s experimental drug to treat coronavirus helped patients recover faster than standard care, the company said, offering hope for what could be the first effective treatment for the illness that has swept the world.
A trial being run by the U.S.’s National Institute of Allergy and Infectious Diseases looked at whether Gilead’s remdesivir helped people with Covid-19 recover faster than without it.
These study results complement data from the *placebo- controlled study* of remdesivir conducted by the National Institute for Allergy and Infectious Diseases and help to determine the optimal duration of treatment with remdesivir
We feel *placebo- controlled study* the study by National Institute of Allergy and Infectious Diseases will help to get FDA approval faster. Positive

Stocks to Watch 29/4/2020

2020-04-29T09:51:00.000+05:30

Stocks To Watch

Reliance Industries: Long-term rating was affirmed by S&P Global Ratings at BBB+. Outlook remains stable. The ratings agency stated that the company's leverage is poised to improve and stabilize over the next 12-24 months owing to disciplined spending, asset monetisation, and resilient earnings. The company has also increased its stake in SkyTran Inc. to 26.3 percent from 17.4 percent due to conversion of convertible notes purchased earlier.

Biocon: The company along with Mylan has launched Fulphila in Canada. Fulphila is approved by Health Canada to decrease the incidence of infection, as manifested by febrile neutropenia.

Spandana Sphoorty Financial: 79 percent of the total branches (794 out of 1,006) are present in the green zone and all of these have been operational since April 20. Borrower base has not been significantly impacted due to the rural focus. Most borrowers reached out to are willing to pay. Collected Rs 13.3 crore in the last one week despite tight restrictions in operations.

NLC India: Commences production of coal in Odisha, four years after allocation. Coal will be used to meet the requirements of existing and future coal-fired power plants.

Gabriel India: Resumed operations at its plants in Haryana, Himachal Pradesh and Maharashtra.

CG Consumer Electricals: Partially resumes operations at its Baddi plant.

L&T: Allotted NCDs worth Rs 2,500 crore.

Ujjivan Small Finance Bank: RBI has approved the appointment of Biswamohan Mahapatra as part-time Chairman for a period of 3 years.

PPAV Automotive: Resumes operations at its Rajasthan and Gujarat facilities.

PNB Housing Finance: Sanjaya Gupta has stepped down from the post of MD and CEO. Board has initiated the process to find his successor. Neeraj Vyas will be the interim MD and CEO.

Federal-Mogul Goetze: Partially resumed operations at its Rajasthan Plant.

Hexaware Technologies: To report its quarterly earnings today.

Manappuram Finance: To meet Elara Capital today.

IMPORTANT Market News & Update 29/4/2020

2020-04-29T08:22:00.001+05:30

🔥Good Morning All🔥

Exclusive Morning Market News & Update

Stocks To Watch

🔹Reliance Industries: Long-term rating was affirmed by S&P Global Ratings at BBB+. Outlook remains stable. The ratings agency stated that the company's leverage is poised to improve and stabilize over the next 12-24 months owing to disciplined spending, asset monetisation, and resilient earnings. The company has also increased its stake in SkyTran Inc. to 26.3 percent from 17.4 percent due to conve

🔹Biocon: The company along with Mylan has launched Fulphila in Canada. Fulphila is approved by Health Canada to decrease the incidence of infection, as manifested by febrile neutropenia.

🔹Spandana Sphoorty Financial: 79 percent of the total branches (794 out of 1,006) are present in the green zone and all of these have been operational since April 20. Borrower base has not been significantly impacted due to the rural focus. Most borrowers reached out to are willing to pay. Collected Rs 13.3 crore in the last one week despite tight restrictions in operations.

🔹NLC India: Commences production of coal in Odisha, four years after allocation. Coal will be used to meet the requirements of existing and future coal-fired power plants.

🔹Gabriel India: Resumed operations at its plants in Haryana, Himachal Pradesh and Maharashtra.

🔹CG Consumer Electricals: Partially resumes operations at its Baddi plant.

🔹L&T: Allotted NCDs worth Rs 2,500 crore.

🔹Ujjivan Small Finance Bank: RBI has approved the appointment of Biswamohan Mahapatra as part-time Chairman for a period of 3 years.

🔹PPAV Automotive: Resumes operations at its Rajasthan and Gujarat facilities.

🔹PNB Housing Finance: Sanjaya Gupta has stepped down from the post of MD and CEO. Board has initiated the process to find his successor. Neeraj Vyas will be the interim MD and CEO.

🔹Federal-Mogul Goetze: Partially resumed operations at its Rajasthan Plant.

🔹Hexaware Technologies: To report its quarterly earnings today.

🔹Manappuram Finance: To meet Elara Capital today.

Trading Tweaks

🔹Price Band Revised To 5 Percent From 10 Percent: Jammu & Kashmir Bank

🔹Price Band Revised To 10 Percent From 20 Percent: Panacea Biotec

🔹Move Into ASM Framework: Graphite India, Lakshmi Vilas Bank, Shyam Century Ferrous, SORIL Infra Resources, Jaypee Infratech

🔹Move Into Short-Term ASM Framework: Infibeam Avenues, Panacea Biotec, Alembic Pharmaceuticals, Lumax Auto Technologies

🔹Move Out Of Short-Term ASM Framework: Lumax Auto Technologies, VST Tillers Tractors, eClerx Services, Wheels India, Kolte-Patil Developers, Shriram City Union Finance

Money Market Update

💫The rupee gained for the second straight day to end at 76.19 against the U.S. Dollar as compared to Monday's close of 76.24.

Asian equity markets are edging higher at the start of trading on Wednesday as U.S. futures turned positive amid a slew of corporate earnings.

The U.S. Dollar is maintaining its losses for the week while Oil prices remain volatile, rebounding today after two days of sharp cuts.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.5 percent to 9,440 as of 6:50 a.m.

The Consortium of Indian Petroleum Dealers have for the second time written to the three major oil companies, seeking a stimulus financial package, saying it is very challenging to operate as fuel sales have dropped more

than 10% from normal due to the #COVID19outbreak https://t.co/UEZEcPdEef

COVIDー19 | The total number of global #coronavirus cases surpasses 31.3 lakh, including more than 2.17 deaths. Over 9.55 patients are reported to have recovered.

Meanwhile, IMF approves $3.4 bn for Nigeria to address COVID-19 crisis

Asia follows cues from US Futures, trades largely higher; Hang Seng trades nearly 200 while Taiwan Index 150 points

Hexaware may see a minor dip in its Q1CY20 performance on a sequential basis. $ revenue seen 2.2% lower at $209 m, margin at 12% Vs 13% & profit 6.6% lower at Rs 156 cr. Lower utilisation may offset 50-60 bps benefits from Rupee depreciation

CLOSING MARKET REPORT.. 28/4/2020

2020-04-28T23:42:00.002+05:30

Markets closed higher. Nifty 50 closed at 9401.70 (119.4, 1.3%) , BSE Sensex closed at 32114.52 (371.4, 1.2%) while the broader Nifty 500 closed at 7685.85 (81.9, 1.1%)

💫Market breadth is in the green. Of the 1611 stocks traded today, 825 were in the positive territory and 700 were negative.

💫Religare Broking analysts bet on Britannia, HUL

💫IndusInd Bank, Avanti Feeds among the top gainers in markets today.

💫Gateway Distriparks says it has de-pledged shares held with IL&FS. Prism International, a subsidiary of GDL had availed a term loan facility of Rs 75 crore from IL&FS Financial Services Limited (IFIN) in September 2017, which was to be repaid by October, 2020. The loan was secured by a pledge of 65 lakh listed shares of Gateway Distriparks Limited.

💫Prism has now prepaid the amount on 22nd April 2020. IFIN has released 64,70,000 shares on 27th April 2020, which represents 26% of the 22.9% GDL's shareholding by Prism and 5.95% of GDL’s share capital.

💫Tata Motors says that it will be issuing non-convertible debentures (NCDs) worth Rs 1,000 crore, in an effort to raise liquidity as lockdowns freeze car sales.

💫Axis Bank's share price is up today ahead of results. Analysts are expecting a decline in net profit for the bank.

💫Ambuja Cements, Sasken announce results.

💫Abakkus Investors had a call with Finolex management. Check Discover to see who is meeting whom.

💫Markets are volatile in early trading. Nifty 50 was trading at 9340.55 (58.3, 0.6%) , BSE Sensex was trading at 31848.86 (105.8, 0.3%) while the broader Nifty 500 was trading at 7650.95 (47, 0.6%). Market breadth is highly positive. Of the 1401 stocks traded today, 917 were on the uptick, and 395 were down.

*Axis Bank – Max Life Deal Update*

(Nirmal Bang Retail Research)

 Axis Bank will be acquiring 30% stake (55.64 Cr shares) in Max Life (unlisted subsidiary of Max Financial Service Ltd).

 The deal value has not been decided as yet and will be based on the Tax adjusted B V at the end of the year. Tax Adj. BV is dependent on the profits and is also impacted by MTM on bonds. At the end of 9MFY20, the tax adjusted BV stood at ~Rs. 28/share.

 The pay-out to buy the residual stake of 5% from Mitsui Sumitomo Insurance is expected to be ~Rs. 840 Cr. This transaction will be at a HoldCo (MFSL) level, wherein, MFSL will receive deal value from Axis Bank and will pay MSI. Post completion of the transaction Max Life will become a 70:30 JV between MFSL and Axis Bank.

 Axis and Max Life will look to file for merger by mid of CY21. If the merger not be completed, which is a remote possibility, by a pre-agreed timeline of 5 years, the transactions provide for a put option for Axis Bank to sell all shares in Max Life at a price of Rs 294 per share within 9 months of exercise of such put option. A potential roadblock to the merger was the telecom liability (~Rs. 120Cr) and the company has decided to settle it under the amnesty scheme. At the Holdco level, the company has enough liquidity to pay off the liability.

 Analjit Singh (promoter) is also looking to reduce the pledge levels by monetizing the stake in the healthcare business which will be subsequently listed post the approval from NCLT and also monetizing a small portion of the stake in MFSL.

 With the Yes Bank Banca agreement renewed for 5 years, Axis Bank deal and improvement in product mix with protection business doing well, Max Life is doing significantly well despite tough macros.

Dt. 27/4/2020 IMPORATNT NEWS FROM NEWSPAPER

2020-04-27T09:01:00.000+05:30

Dt.. 27/4/2020

Economic Times

Business Standard

Ø India seeks IMF, WB help to deal with IIP data gaps

Ø Factories fire up in Europe to pull economy back

Ø GMR Hyderabad Airport connects to African markets with cargo services

Ø Nabard lines up term loan facility for MFIs

Ø CBIC clears Rs 10k cr GST, customs refund in 16 days

Ø India's US G-Sec holdings at record high in Feb

Ø Finance Ministry, Sebi question mutual funds on Franklin Templeton fiasco

Ø Days after deal with Facebook, RIL starts WhatApp-based online portal

Ø ICICI Pru Life's Q4 takes a hit on higher share of ULIPs, Covid-19

Ø Finance Ministry likely to present new GDP, budgetary targets by July

Ø Yes Bank scam: CBI takes DHFL promoters Wadhawan brothers into custody

Business Line

Mint

Ø IT officers pitch for 40% tax on super rich, new Covid cess

Ø IRB Infra’s board approves ₹2,500-cr fund-raise plan

Ø NTPC to procure fuel cell buses, cars for Delhi, Leh

Ø Mekins Industries develops ultra violet light-based disinfectant trolley

Ø Covid-19 may punch a big hole in petro-tax tank of Centre, States

Ø Telcos may do better in Q4, but there were no gains for Bharti Infratel

Ø Transportation of employees and goods remain key challenges to restart biz: CII

Ø VIX falls 54% from high, investors may be underestimating risks

Ø 47% of Indian startups and SMEs have less than a month of cash left: Survey

Financial Express

Deccan Chronicle

Ø Foodgrain stocks hit all-time high of 73.85 mt in April

Ø Union Bank plans to lower stake in IndiaFirst Life to less than 10 per cent

Ø IBBI excludes lockdown from resolution time frame

Ø India's holding of US government securities hits record high of $177.5 billion in Feb

Ø SAARC nations unveil emergency stimulus packages to mitigate Covid19 economic fallout #nifty-50

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