🔥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