🌟 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
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