Sunday, February 2, 2020

Today's Stock News - 03.02.2020 : 09.00 Am

Today's Stock News - 03.02.2020 : 09.00 Am
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* ALKEM LABORATORIES: Got tentative approval from The US Food and Drug Administration's nod for generic of Samsca tablet.

* APOLLO MICRO SYSTEMS: The board has approved subscribing to fresh equity in Ananya Sip RF Technologies in order to get 51% stake.

* BHARAT PETROLEUM CORP: The government will come out with the expression-of-interest inviting bidders for privatisation of the company within few days.

* CAMLIN FINE SCIENCES: Maharashtra Pollution Control Board has allowed the company to restart operations at its manufacturing unit at Palghar, subject to certain conditions.

* CENTRUM CAPITAL: A private equity fund managed by Morgan Stanley has agreed to invest 1.90 bln rupees in the group's housing finance business Centrum Housing Finance.

* COAL INDIA: The company's production rose 10.3% on year to 63.11 mln tn in January, while offtake was up 6.9% at 56.05 mln tn, according to provisional figures.

* DLF: Leased 200,000 sq ft of office space to Facebook in Gurugram's Cyber City.

* EICHER MOTORS: In January, the company's overall commercial vehicle sales declined 6% on year to 5,544 units. Total sales of Royal Enfield motorcycles fell 13% on year to 63,520 units in January.

* FORTIS HEALTHCARE: Shareholders have approved increasing limit on creation of charge, mortgages, among others, to up to 60 bln rupees.

* HERO MOTOCORP: The company's total sales fell 13.9% on year to 501,622 units in January.

* HINDUSTAN AERONAUTICS: Will make advanced unmanned combat aerial vehicles with Israeli company.

* INDIAN BANK: Has cut its marginal cost of funds-based lending rates by five basis points across tenures.

* INDIAN OIL CORP: The company, BHARAT PETROLEUM CORP and HINDUSTAN PETROLEUM CORP are preparing to receive investments from Saudi Aramco and Abu Dhabi National Oil Co even as the state-run oil marketing companies await the Maharashtra government's decision on providing a fresh patch of land for the $70 bln Ratnagiri Refinery and Petrochemicals project.

* INFO EDGE INDIA: IE Venture Fund I, an alternate investment fund set up by the company, has invested 252 mln rupees in Mumbai-based Qyuki Digital Media.

* ITI: Subscription to the company's follow-on public offer remained unchanged on the seventh day at a mere 25%. The company received bids for just 45.4 mln shares against 181.8 mln on offer.

* JSW STEEL: Has bagged two iron ore mines with total reserves of 980 mln tn in the auction in Odisha.

* MAHINDRA & MAHINDRA: The measures proposed by the government in the rural and 
agricultural sector in the Union Budget 2020-21 (Apr-Mar) come with a flip side that they will not be able to revive demand immediately, said the company's Managing Director Pawan Goenka.

* MOIL: Increased some product prices by 2.5-7.5% effective Saturday.

* MUTHOOT CAPITAL SERVICES: Raised 1.73 bln rupees through a securitisation deal on Friday.

* NMDC: Iron ore sales in January were nearly 4% lower on year at 2.96 mln tn, while production remained unchanged at 3.31 mln tn.

* OIL AND NATURAL GAS CORP: The company, INDIAN OIL CORP and other oil public sector
undertakings will invest over 985.21 bln rupees in year 2020-21 (Apr-Mar) in exploring for oil and gas, refineries, petrochemicals and laying pipelines.

* RELIANCE INFRASTRUCTURE: Jai Anshul Ambani, Jai Anmol Ambani resign as directors.

* SHILPA MEDICARE: Got tentative approval from the US Food and Drug Administration for the generic of Esbriet drug.

* SML ISUZU: Total sales in January rose nearly 12% on year to 1,112 units.

* TATA MOTORS: The company's total domestic sales fell 18% on year to 45,242 units in January.

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Today's Sector News - 03.02.2020: 09.00 Am

Today's Sector News - 03.02.2020: 09.00 Am
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* REAL ESTATE: The real estate sector, which was expecting specific measures to alleviate the acute
funding crunch that the residential sector is facing and boost demand, is feeling left out as the Budget for 2020-21 announced on Saturday failed to address any of its concerns.

* TAXATION: Finance Minister Nirmala Sitharaman has said her ministry will soon come out with
clarifications and explanatory notes on the new income tax scheme announced in the Union Budget on Saturday.
- The finance ministry has issued a note clarifying that an Indian citizen staying abroad is liable to
pay tax on any income generated in India, be it through rent or other means, irrespective of whether he pays tax in his current jurisdiction.
- Finance Minister Nirmala Sitharaman has said the government's intention is to further reduce
personal income tax rates, and gradually do away with all exemptions, going forward.

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Nifty-Sensex View - 03.02.2020: 09.00 Am

Nifty-Sensex View  - 03.02.2020: 09.00 Am
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Pre-Session: Flat start likely for domestic bourses on Monday
03/02/2020 08:31
Indian benchmark indices are expected to start the day on flat note on Monday. India's equity markets may react to the fine-print of the Union Budget 2020 after Saturday's immediate reaction, but the focus will largely shift to quarterly earnings and rapidly spreading coronavirus.

On the corporate earnings front, a total of 76 companies are scheduled to announce their quarter earnings today. IG Petrochemicals, Tata Chemicals, Ujjivan Financial Services, HUDCO among others.

On the macro data front, Markit Manufacturing PMI data for January will be released today and Services PMI numbers on Wednesday.

On Saturday, giving a thumbs down to the Budget, the market benchmark Sensex logged its biggest single-day plunge in nearly five years. The 30-share benchmark index ended at 39735.53 down by -987.96 points or by -2.43 % and then NSE Nifty was at 11661.85 down by -300.25 points.


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