Showing of moratorium book will be key; outlook for earnings in FY21 is weak; ‘Buy’ maintained with TP of Rs 530

The ratings for long-term bank facilities for Arvind Fashion was reaffirmed CARE A- with outlook revised from stable to negative.

Warren Buffett on Saturday took a dive into the 231-year history of the United States of America to predict the future of the country’s economy struggling to stay on its feet amid the struggle against coronavirus and lockdown: “Nothing can basically stop America.”

During the last week that was holiday-shortened, the Sensex rallied 2,390.40 points or 7.63 per cent.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: As many as 28 stocks out of 30 Sensex stocks settled in a deep sea of red with ICICI Bank as top laggard, down 11 per cent, followed by Bajaj Finance, HDFC, IndusInd Bank and Axis Bank.

Despite reporting a fall in profits in the January-March quarter, the 10% stake sale in Reliance Jio to Facebook and the biggest-ever rights issue in India of Rs 53,000 crore that Reliance Industries announced on Friday has made brokerage firms stay firm on their ‘buy’ calls for India’s most valuable company.

As India goes back under another lockdown till May 17, FMCG, retail and pharma sectors are likely to witness upticks in the demand.

With local wine shops allowed to open across states from today, liquor stocks are back in focus on Dalal Street today. Breweries and distilleries were seen moving up in the share markets while the benchmark indices fell over 5% each.

The government on Friday announced that a "limited" lockdown, including suspension of inter-state travel, air and train services, will continue to remain in force for another two weeks throughout the country from May 4, but some activities would be allowed after classifying areas into red, orange and green zones.

The market share of HUL was up by 50bp in 4QFY20 with 80 per cent of portfolio gaining share in the March quarter, a clear indication of resilient performance in an extraordinarily difficult quarter

“The world has changed for the airlines and I don’t know how it’s changed,” said ace investor Warren Buffett at the annual general meeting of Berkshire Hathaway last Saturday, after his company sold all their holdings in four of the largest airlines in April.

Investors witnessed a wealth erosion of Rs 5.81 lakh crore in BSE-listed companies. The market capitalisation of BSE-listed companies fell by Rs 5,81,182.15 crore to Rs 1,23,60,438 crore

With the majority of the population asked to stay indoor, power demand across the country tanked over 8% in March and was expected to fall another 32% in April.

In reduced trade, with China, Japan and South Korea on holiday, Australia's ASX 200 rose 1.26% and Hong Kong's Hang Seng climbed 0.66%.

As uncertainty looms large, volatility again jumped 28% on Monday as equity markets resumed trading after a long weekend.

Petrol price is hiked by Rs 1.67 per litre while diesel price is increased by Rs 7.10 per litre in Delhi.

The expectation of revival of economies after the lockdown and selling of gold by the central bank created pressure on the yellow metal

United Breweries share price fell the most as much as 6 per cent to Rs 912, while United Spirits shares were down 4.5 per cent to Rs 517.30

Following the two-day fall in equities, the market capitalisation of BSE-listed companies plunged by Rs 6,98,419.77 crore to Rs 1,22,43,201.05 crore.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: As many as 21 stocks out 30 Sensex scrips finished trade in positive territory with M&M as the top gainer, up 5.27 per cent, followed by Bajaj Finance, HDFC Bank and ICICI Bank.

HDFC, HDFC Bank, ICICI Bank, Reliance Industries (RIL) and Bharti Airtel were among the top index contributors

NIIT Technologies share price surged 15% on the stock market after the company posted a strong January-March quarter result on Tuesday.

Yes Bank shares jumped 20 per cent to hit upper circuit at Rs 31.60 apiece on BSE in otherwise weak trade on Thursday. Bank reported a net profit of Rs 2,629 crore for the quarter ended on March 31.

Most of the sectoral indices were trading in deep sea of red. Nifty FMCG index dropped 1.33 per cent weighed by Godrej Consumer Properties, Britannia, Dabur India and Marico.

Gold prices have gained over 18 per cent from their recent low of Rs 38,400 per 10 grams hit on March 16, 2020. While silver futures surged 25 per cent from its low of Rs 33,580 per kg touched in March.

Reliance Industries share price extended gains in the late afternoon trade on Thursday, jumping over 2%, while headline index Sensex mostly traded in red, even as RIL denied the buzz about talks with Microsoft for further investment in its telecom arm Jio.

The March mayhem that saw domestic benchmark indices tank 24% in not behind investors despite a decent recovery in the month of April. However, the coming few months could be crucial for investors.

The broader markets outperformed the headline indices. S&P BSE MidCap index fell 0.53 per cent or 61 points at 11,420. While BSE SmallCap index declined 0.14 per cent or 15 points to end at 10,687

In the wake of Franklin Templeton wounding up six of its debt mutual fund schemes, India’s largest mutual fund distributors body has urged the Reserve Bank of India to set up a SPV to buy portfolios from troubled fund houses and pay off investors.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Out of 30 Sensex stocks, 16 scrips finished trade in red with NTPC as top laggard, down 4 per cent, followed by M&M, Axis Bank, IndusInd Bank and State Bank of India (SBI)

On MCX, gold June futures were trading Rs 153 or 0.33 per cent down at Rs 46,008 per 10 grams. Silver July futures were ruling at Rs 43,265 per kg, up Rs 142 or 0.33 per cent.

Market regulator SEBI, late Thursday night advised Franklin Templeton to focus on returning investor’s money after the fund house decided to wound up six of its debt mutual fund schemes.

HCL Technologies posted strong March quarter numbers with revenue increasing by 16% on-year basis and PAT jumping 22.7% in the same time period. The stock has surged 27% from recent lows and is now down just 10% year-to-date.

Various news flows viz., stake sale by Reliance Industries in its subsidiary Jio Platforms, block deal in HUL, government’s decision to increase the tax on retail fuel etc., influenced the market movements.

The National Stock Exchange’s subsidiary NSE IFSC and the Bombay Stock Exchange’s India INX on Friday launched trading in the Indian Rupee-US Dollar Futures & Options contact.

Last month, the fund house had closed six of its debt funds, citing redemption pressures and lack of liquidity in the bond markets. 

Cash flows will be tight and they may also experience delay in the investment cycle, but this is a temporary phase, says Bhaskar Majumdar, managing partner, Unicorn India Ventures (UIV), a Mumbai-based fund house.

FY21/22e EPS lowered by 22-33/9-13%; softer LNG prices a positive; GUJGA and MGL are to be preferred.

There’s absence of catalysts to narrow holdco and conglomerate discount that has risen of late; ‘Hold’ retained with TP of Rs 550.

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Ashok Leyland, flagship company of the Hinduja group, on Monday announced a slew of initiatives to manufacture and distribute ventilators.

The department of telecommunications (DoT) is understood to have turned down the offer of Vodafone Idea to furnish a corporate guarantee instead of a bank guarantee to cover its deferred spectrum installment for the current fiscal.

A sharp slowdown in the motor business and lower interest rates will put pressure on ICICI Lombard’s FY21E performance.

Amazon on Monday said the company is seeing demand for various kinds of smart devices and other products like electrical appliances, clothes and work from home enablers in the orange and green zones.

A proxy advisory firm has raised objections to the corporate governance structure at Zee Learn, part of the Essel group, expressing concerns over the company’s capital allocation decision, related-party transactions and acquisition of MT Educare.

Consumer goods major Marico posted a 3% year-on-year (y-o-y) decline in net profit to Rs 204 crore for the quarter ended March 31, while the revenue from operations, at Rs 1,496 crore, declined 7% y-o-y.

The decision was taken after the state agriculture department approached the Central Institute of Cotton Research (CICR), Nagpur, seeking advice against the backdrop of the Covid-19 pandemic affecting the country.

With an eye at coronavirus as an opportunity, to put its idle plants to work, state-run Bhel has offered its manufacturing facilities to be used by global manufacturing firms looking to shift base.

Nearly 60% employees of GoAir’s will be put on “temporary leave without pay”, the airline’s promoters Nusli and Jeh Wadia in a joint letter informed employees.

Marico's Q4FY20 was expectedly weak on topline but margin beat (lower RM & A&P) drove a positive earning surprise.