ation - Under pressure from President Trump, the Indian government Tuesday lifted a ban on the export of hydroxychloroquine, paving the way for the anti-malaria drug to be shipped to the U.S. for use against the coronavirus- Positive for Indian Pharma stocks - Lupin, IPCA, Cadila, Dr Reddy, IPCA Labs.
Gujarat Alkalies begins partial operation of manufacturing facilities at Dahej - Company has started partial operation of Poly Aluminium Chloride (PAC) & Hydrogen Peroxide Plants at Dahej Complex and Chloromethanes & Poly Aluminium Chloride (PAC) Plants at Vadodara Complex. – Positive.
Granules India's Visakhapatnam unit gets EU GMP approval – Granules high potent API and Finished Formulations manufacturing facility located at Visakhapatnam, Andhra Pradesh, India has received EU GMP approval today. - Positive.
Credit Access Grameen rolls out loan repayment moratorium options - The customer will not be reported as defaulter during the moratorium period. In accordance with the loan moratorium guidelines issued by RBI on March 27, 2020, Moratorium will be allowed on all instalments falling due between March 01, 2020 and May 31, 2020. For the borrowers who have already paid instalments after March 01, 2020, required adjustments will be made so that moratorium is applicable for the remaining instalments till May 31, 2020. The asset classification will be according to RBI guidelines. The customer will not be reported as defaulter during the moratorium period. – Positive as maintain RBI guidelines.
Yesterday, Equity markets began the truncated weak on a resounding note, staging their biggest one-day gain since May 2009. Sensex ended with gains of 9 percent to close at above 30000 mark (30041). All of the Sensex 30 constituents ended the day with gains; wherein 14 of them gained over 10 percent. Nifty climbed up 8.7 percent to end at 8,792. Among sectorial indices, all of them ended with gains led by the Nifty Bank (up 10 percent) and Nifty Pharma (up 10 percent). Nifty FMCG, Tech and Metal gained over 8 percent. Nifty Auto index too ended nearly 10% higher. Sentiment has been boosted after reported death tolls in some of the world’s coronavirus hotspots showed signs of easing. Stock markets across the globe remained in positive territory amid continued signs that the coronavirus outbreak may be peaking in a number of hard-hit places.
L&T Board to meet on April 9 to seek approval for raising funds - Company is scheduled on Thursday, April 9, 2020 inter-alia to seek approval for raising funds including through issue of debt securities.- We are long term positive on L&T.
Indiabull Housing - ICRA has downgraded the outlook on the long-term rating to negative and reaffirmed the short-term rating – Avoid.
Man Industries promoters purchase 14.67 lakh shares in FY20 - The promoters of the company (RCM Group) have purchased 14.67 lakh shares representing 2.6% of company’s total shareholding during the FY2019-20. - Positive.
Wipro to announce Q4 results on April 14 – We are neutral on the stock. We are positive on Infosys, Tech Mahindra.
Page Industries says lockdown to sale affect partially in March, expects some impact on Q4 of March sales loss. Company says that the inventory enough to carry through Q1 of FY21 – Statement is positive.
Hudco to consider raising up to Rs1500cr via debt private placement. – Positive.
Rating agency ICRA SAYS - The Indian economy is likely to witness a sharp contraction of 4.5% (de-growth) during Q4FY2020 and is expected to recover gradually, to post a GDP growth of just 2% in FY2021.
Kotak Mahindra Bank said in a filing that the bank has reported a rise in deposit base for the March quarter. The bank's deposits rose 16.4% yoy to Rs2.62 lakh cr. The bank witnessed 11.7% qoq growth in customer deposits and a 1.3% rise in advances during the March quarter, as against the quarter ended December 31, 2019. – We are positive on Kotak Bank.
L&T Construction bags order from Indian army in range of Rs2,500-5,000cr – Positive.
Lupin announced the launch of Mycophenolic Acid Delayed-Release Tablets in US o
By: via @AlliesFin Serve T.ME/ALLiESFiN
