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Market gains for third day; Nifty ends near 9100
(15:31, 21 May 2020)

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The-market-ended-with-decent-gains-on-Thursday,-extending-its-winning-run-for-the-third-straight-session.-As-per-provisional-closing,-the-barometer-S&P-BSE-Sensex-was-up-114.29-points-or-0.37%-at-30,932.90.-The-Nifty-50-index-rose-31.45-points-or-0.35%-at-9,098.-Banks-shares-reversed-trend-after-opening-higher.-

The-Nifty-opened-higher-at-9079.45-and-advanced-further-in-mid-morning-trade-after-the-government-announced-resumption-of-domestic-airline-operations-from-25-May,-almost-two-month-after-the-operations-were-suspended-on-25-March.-

The-index-hit-the-day's-high-of-9,178.55-in-afternoon-session.-However,-profit-booking-emerged-in-in-mid-afternoon-trade-as-deteriorating-Sino-American-ties-cast-a-cloud-over-the-rally-in-risk-assets.-The-Nifty-sharply-pared-gains-and-slipped-below-9100-mark.-

US-President-Trump-reportedly-accused-China-of-having-the-ability,-but-declining,-to-stop-the-spread-of-the-deadly-virus,-which-has-infected-about-5-million-people-around-the-world.

The-broader-market-was-firm.-The-S&P-BSE-Mid-Cap-index-was-up-0.76%-while-the-S&P-BSE-Small-Cap-index-rose-0.72%.

The-market-breadth-was-positive.-On-the-BSE,-1326-shares-rose-and-914-shares-fell.-A-total-of-174-shares-were-unchanged.

Domestic-sentiment-were-also-impacted-after-ratings-agency-ICRA-said-that-modest-fiscal-support,-extension-of-lockdown,-looming-labour-supply-mismatches-suggest-deeper-GDP-contraction-of-5%-in-FY2021.

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-49,96,634-far-with-3,28,120-deaths.-India-reported-63,624-active-cases-of-COVID-19-infection-and-3,435-deaths,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Earnings-Impact:

Colgate-Palmolive-(India)-fell-1.92%.-The-company-said-its-net-profit-rose-3.3%-to-₹-204.2-crore-on-7.4%-decline-in-net-sales-to-₹-1,062.4-crore-in-Q4-March-2020-over-Q4-March-2019.-The-company-said-its-net-sales-contracted-on-account-of-an-8%-volume-decline,-mainly-due-to-current-COVID-19-situation.-Profit-before-tax-(PBT)-stood-at-₹-234.36-crore-in-Q4-FY20,-down-by-15.4%-from-₹-276.93-crore-in-Q4-FY19.

Bajaj-Auto-was-up-3.52%.-The-auto-maker's-consolidated-reported-net-profit-fell-3.9%-to-₹-1,353.99-crore-on-8.5%-decline-in-net-sales-to-₹-6,610.90-crore-in-Q4-March-2020-over-Q4-March-2019.-Profit-before-tax-(PBT)-slipped-10.8%-to-₹-1,764.93-crore-during-the-period-under-review.-Current-tax-expenses-jumped-14.8%-to-₹-411.33-crore-in-Q4-March-2020-over-Q4-March-2019.-The-auto-maker's-total-sales-volume-declined-17%-to-9.91-lakh-units-in-Q4-FY20-as-against-11.93-lakh-units-in-Q4-FY19.-Domestic-sales-volumes-slumped-33%-to-4.78-lakh-units-while-exports-gained-7%-to-5.13-lakh-units-during-the-quarter.

Jubilant-FoodWorks-gained-2.67%.-On-a-consolidated-basis,-the-company-reported-a-58%-drop-in-net-profit-to-₹-32.53-crore-on-4.1%-rise-in-net-sales-to-₹-908.75-crore-in-Q4-March-2020-over-Q4-March-2019.-Net-profit-was-impacted-after-the-company-made-an-exceptional-item-for-the-quarter-ending-31-March-2020-of-₹-12.39-crore.-The-company-said-exceptional-item-were-related-to-expenses-consequential-of-Covid-19-pandemic-situation.-Domino's-Same-store-sales-growth-(SSG)-which-refers-to-the-year-over-year-growth-in-sales-for-restaurants-opened-before-previous-financial-year-stood-at--3.4%-in-Q4-March-2020-compared-with-6%-posted-in-the-same-period-last-year.-Like-for-Like-(LFL)-sales-growth-for-Domino's-Pizza-stood-at--2.3%-in-Q4-March-2020-as-against-7.4%-in-Q4-March-2019.

Ajanta-Pharma-jumped-3.27%-after-consolidated-net-profit-jumped-45.3%-to-₹-129.16-crore-on-32.4%-surge-in-net-sales-to-₹-681.96-crore-in-Q4-March-2020-over-Q4-March-2019.-Consolidated-EBITDA-grew-at-19%-to-₹-151-crore-in-Q4-March-2020-over-Q4-March-2019.-During-the-quarter,-India-sales-were-up-11%-to-₹-177-crore-in-Q4-March-2020-as-compared-to-₹-159-crore-in-Q4-March-2019.-As-per-IQVIA-MAT-March-2020,-the-company-posted-a-healthy-growth-of-11%-in-Cardiology-(segment-growth-of-11%),-17%-in-Ophthalmology-(segment-growth-of-11%),-6%-in-Dermatology-(segment-growth-of-9%)-and-16%-in-Pain-Management-(segment-growth-of-12%).-Total-exports-soared-43%-to-₹-490-crore-in-Q4-March-2020-from-₹-343-crore-in-Q4-March-2019.-The-company-said-R&D-expenses-were-at-₹-50-crore-in-Q4-March-2020,-(Q4-FY-2019-₹-40-crore)-which-is-7%-of-operating-revenue.

Buzzing-Index:

The-Bank-Nifty-index-fell-0.94%-at-17,744.20.-The-index-jumped-as-much-as-2.02%-in-morning-trade.-

Bandhan-Bank-(down-4.77%),-IndusInd-Bank-(down-2.83%),-IDFC-First-Bank-(down-1.82%),-Axis-Bank-(down-1.35%),-SBI-(down-0.98%),-Kotak-Mahindra-Bank-(down-0.58%)-and-ICICI-Bank-(down-0.51%)-were-top-losers.-

Stocks-in-Spotlight:

Shares-of-IRCTC-hit-an-upper-circuit-of-5%-at-₹-1,400.70-on-BSE.-Booking-for-Indian-Railways-special-trains-that-commence-services-from-June-1-has-begun-on-the-IRCTC-website-(irctc.co.in)-from-10:00-AM-today.-Indian-Railways-has-already-released-the-full-list-of-IRCTC-special-trains-that-will-run-from-June-1.

Shares-of-aviation-companies-soared-after-the-government-announced-resumption-of-flight-operations-from-25-May-2020.-InterGlobe-Aviation-jumped-7.28%-while-SpiceJet-hit-an-upper-circuit-of-5%-at-₹-42.95-after-Hardeep-Singh-Puri,-Minister-of-Civil-Aviation-tweeted,-“Domestic-civil-aviation-operation-will-recommence-in-a-calibrated-manner-from-25-May-2020.-All-airports-&-air-carriers-are-being-informed-to-be-ready-for-operations-from-25-May.-standard-operating-procedures-(SOPs)-for-passenger-movement-are-also-being-separately-issued-by-Ministry-of-Civil-Aviation.”

Kalpataru-Power-Transmission-was-up-0.21%.-The-company-said-that-its-board-approved-a-proposal-to-buyback-shares-worth-up-to-₹-200-crore-at-a-price-not-exceeding-₹-275-per-share.-At-the-maximum-buyback-price-and-for-the-maximum-buyback-size,-the-indicative-maximum-number-of-equity-shares-to-be-bought-back-would-be-about-72,72,727-equity-shares,-which-is-about-4.70%-of-the-total-number-of-paid-up-equity-shares-of-the-company.-Furthermore,-the-board-also-approved-capital-raising-through-issuance-of-secured/unsecured-non-convertible-debentures-(NCDs)-upto-₹-300-crore-in-one-or-more-tranches.

Cipla-shed-0.48%.-The-drug-maker-announced-the-receipt-of-final-approval-for-its-abbreviated-new-drug-application-for-Dihydroergotamine-Mesylate-Nasal-Spray-from-the-United-States-Food-and-Drug-Administration-(U.S.-FDA)-with-a-competitive-generic-therapy-(CGT)-designation.-Cipla-is-the-“first-approved-applicant”-for-such-CGT-and,-is-therefore,-eligible-for-180-days-of-CGT-exclusivity-which-will-begin-to-run-from-the-commercial-marketing-of-Cipla's-product.-The-nasal-spray-is-indicated-for-the-treatment-of-migraine-headaches-and-is-a-generic-therapeutic-equivalent-version-of-Bausch-Health's-'Migranal'-spray.-

Global-Markets:

European-markets-were-trading-lower-as-tensions-between-US-and-China-spooked-investors.-Meanwhile,-Asian-markets-ended-mixed-as-investors-continue-to-monitor-the-reopening-of-economies-amid-the-coronavirus-pandemic.

President-Donald-Trump-stoked-tensions-by-tweeting-criticism-of-Xi-Jinping's-leadership,-two-days-before-the-biggest-Chinese-political-gathering-of-the-year.-

Japan's-trade-data-for-April-released-by-the-country's-Ministry-of-Finance-on-Thursday-showed-exports-in-April-plunging-21.9%-as-compared-to-a-year-earlier.

US-stock-markets-nudged-higher-on-Wednesday,-following-upbeat-quarterly-results-from-retailers-Target-and-Lowe's-that-had-investors-focused-on-American-businesses-reopening-and-the-coronavirus-pandemic-beginning-to-recede.

Investors-focused-on-the-positives-and-directed-their-attention-to-wider-reopening-plans-that-are-taking-place-throughout-the-U.S.-Many-states-have-been-lifting-restrictions-on-business-and-personal-activity-ahead-of-the-Memorial-Day-holiday-next-Monday.

The-Senate-approved-the-Holding-Foreign-Companies-Accountable-Act,-which-seeks-to-force-Chinese-companies-to-adhere-to-U.S.-securities-law,-ultimately-by-barring-many-from-listing-shares-on-U.S.-exchanges,-or-otherwise-raising-money-from-American-investors.-The-bill-still-would-need-to-pass-the-Democratic-controlled-House-of-Representatives-before-reaching-the-president's-desk-to-be-signed-into-law.

Minutes-of-the-Fed's-last-policy-meeting-in-April-published-Wednesday-showed-officials-also-discussed-how-to-convince-markets-that-interest-rates-will-stay-low-for-a-long-time

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The-market-ended-with-decent-gains-on-Thursday,-extending-its-winning-run-for-the-third-straight-session.-As-per-provisional-closing,-the-barometer-S&P-BSE-Sensex-was-up-114.29-points-or-0.37%-at-30,932.90.-The-Nifty-50-index-rose-31.45-points-or-0.35%-at-9,098.-Banks-shares-reversed-trend-after-opening-higher.-

The-Nifty-opened-higher-at-9079.45-and-advanced-further-in-mid-morning-trade-after-the-government-announced-resumption-of-domestic-airline-operations-from-25-May,-almost-two-month-after-the-operations-were-suspended-on-25-March.-

The-index-hit-the-day's-high-of-9,178.55-in-afternoon-session.-However,-profit-booking-emerged-in-in-mid-afternoon-trade-as-deteriorating-Sino-American-ties-cast-a-cloud-over-the-rally-in-risk-assets.-The-Nifty-sharply-pared-gains-and-slipped-below-9100-mark.-

US-President-Trump-reportedly-accused-China-of-having-the-ability,-but-declining,-to-stop-the-spread-of-the-deadly-virus,-which-has-infected-about-5-million-people-around-the-world.

The-broader-market-was-firm.-The-S&P-BSE-Mid-Cap-index-was-up-0.76%-while-the-S&P-BSE-Small-Cap-index-rose-0.72%.

The-market-breadth-was-positive.-On-the-BSE,-1326-shares-rose-and-914-shares-fell.-A-total-of-174-shares-were-unchanged.

Domestic-sentiment-were-also-impacted-after-ratings-agency-ICRA-said-that-modest-fiscal-support,-extension-of-lockdown,-looming-labour-supply-mismatches-suggest-deeper-GDP-contraction-of-5%-in-FY2021.

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-49,96,634-far-with-3,28,120-deaths.-India-reported-63,624-active-cases-of-COVID-19-infection-and-3,435-deaths,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Earnings-Impact:

Colgate-Palmolive-(India)-fell-1.92%.-The-company-said-its-net-profit-rose-3.3%-to-₹-204.2-crore-on-7.4%-decline-in-net-sales-to-₹-1,062.4-crore-in-Q4-March-2020-over-Q4-March-2019.-The-company-said-its-net-sales-contracted-on-account-of-an-8%-volume-decline,-mainly-due-to-current-COVID-19-situation.-Profit-before-tax-(PBT)-stood-at-₹-234.36-crore-in-Q4-FY20,-down-by-15.4%-from-₹-276.93-crore-in-Q4-FY19.

Bajaj-Auto-was-up-3.52%.-The-auto-maker's-consolidated-reported-net-profit-fell-3.9%-to-₹-1,353.99-crore-on-8.5%-decline-in-net-sales-to-₹-6,610.90-crore-in-Q4-March-2020-over-Q4-March-2019.-Profit-before-tax-(PBT)-slipped-10.8%-to-₹-1,764.93-crore-during-the-period-under-review.-Current-tax-expenses-jumped-14.8%-to-₹-411.33-crore-in-Q4-March-2020-over-Q4-March-2019.-The-auto-maker's-total-sales-volume-declined-17%-to-9.91-lakh-units-in-Q4-FY20-as-against-11.93-lakh-units-in-Q4-FY19.-Domestic-sales-volumes-slumped-33%-to-4.78-lakh-units-while-exports-gained-7%-to-5.13-lakh-units-during-the-quarter.

Jubilant-FoodWorks-gained-2.67%.-On-a-consolidated-basis,-the-company-reported-a-58%-drop-in-net-profit-to-₹-32.53-crore-on-4.1%-rise-in-net-sales-to-₹-908.75-crore-in-Q4-March-2020-over-Q4-March-2019.-Net-profit-was-impacted-after-the-company-made-an-exceptional-item-for-the-quarter-ending-31-March-2020-of-₹-12.39-crore.-The-company-said-exceptional-item-were-related-to-expenses-consequential-of-Covid-19-pandemic-situation.-Domino's-Same-store-sales-growth-(SSG)-which-refers-to-the-year-over-year-growth-in-sales-for-restaurants-opened-before-previous-financial-year-stood-at--3.4%-in-Q4-March-2020-compared-with-6%-posted-in-the-same-period-last-year.-Like-for-Like-(LFL)-sales-growth-for-Domino's-Pizza-stood-at--2.3%-in-Q4-March-2020-as-against-7.4%-in-Q4-March-2019.

Ajanta-Pharma-jumped-3.27%-after-consolidated-net-profit-jumped-45.3%-to-₹-129.16-crore-on-32.4%-surge-in-net-sales-to-₹-681.96-crore-in-Q4-March-2020-over-Q4-March-2019.-Consolidated-EBITDA-grew-at-19%-to-₹-151-crore-in-Q4-March-2020-over-Q4-March-2019.-During-the-quarter,-India-sales-were-up-11%-to-₹-177-crore-in-Q4-March-2020-as-compared-to-₹-159-crore-in-Q4-March-2019.-As-per-IQVIA-MAT-March-2020,-the-company-posted-a-healthy-growth-of-11%-in-Cardiology-(segment-growth-of-11%),-17%-in-Ophthalmology-(segment-growth-of-11%),-6%-in-Dermatology-(segment-growth-of-9%)-and-16%-in-Pain-Management-(segment-growth-of-12%).-Total-exports-soared-43%-to-₹-490-crore-in-Q4-March-2020-from-₹-343-crore-in-Q4-March-2019.-The-company-said-R&D-expenses-were-at-₹-50-crore-in-Q4-March-2020,-(Q4-FY-2019-₹-40-crore)-which-is-7%-of-operating-revenue.

Buzzing-Index:

The-Bank-Nifty-index-fell-0.94%-at-17,744.20.-The-index-jumped-as-much-as-2.02%-in-morning-trade.-

Bandhan-Bank-(down-4.77%),-IndusInd-Bank-(down-2.83%),-IDFC-First-Bank-(down-1.82%),-Axis-Bank-(down-1.35%),-SBI-(down-0.98%),-Kotak-Mahindra-Bank-(down-0.58%)-and-ICICI-Bank-(down-0.51%)-were-top-losers.-

Stocks-in-Spotlight:

Shares-of-IRCTC-hit-an-upper-circuit-of-5%-at-₹-1,400.70-on-BSE.-Booking-for-Indian-Railways-special-trains-that-commence-services-from-June-1-has-begun-on-the-IRCTC-website-(irctc.co.in)-from-10:00-AM-today.-Indian-Railways-has-already-released-the-full-list-of-IRCTC-special-trains-that-will-run-from-June-1.

Shares-of-aviation-companies-soared-after-the-government-announced-resumption-of-flight-operations-from-25-May-2020.-InterGlobe-Aviation-jumped-7.28%-while-SpiceJet-hit-an-upper-circuit-of-5%-at-₹-42.95-after-Hardeep-Singh-Puri,-Minister-of-Civil-Aviation-tweeted,-“Domestic-civil-aviation-operation-will-recommence-in-a-calibrated-manner-from-25-May-2020.-All-airports-&-air-carriers-are-being-informed-to-be-ready-for-operations-from-25-May.-standard-operating-procedures-(SOPs)-for-passenger-movement-are-also-being-separately-issued-by-Ministry-of-Civil-Aviation.”

Kalpataru-Power-Transmission-was-up-0.21%.-The-company-said-that-its-board-approved-a-proposal-to-buyback-shares-worth-up-to-₹-200-crore-at-a-price-not-exceeding-₹-275-per-share.-At-the-maximum-buyback-price-and-for-the-maximum-buyback-size,-the-indicative-maximum-number-of-equity-shares-to-be-bought-back-would-be-about-72,72,727-equity-shares,-which-is-about-4.70%-of-the-total-number-of-paid-up-equity-shares-of-the-company.-Furthermore,-the-board-also-approved-capital-raising-through-issuance-of-secured/unsecured-non-convertible-debentures-(NCDs)-upto-₹-300-crore-in-one-or-more-tranches.

Cipla-shed-0.48%.-The-drug-maker-announced-the-receipt-of-final-approval-for-its-abbreviated-new-drug-application-for-Dihydroergotamine-Mesylate-Nasal-Spray-from-the-United-States-Food-and-Drug-Administration-(U.S.-FDA)-with-a-competitive-generic-therapy-(CGT)-designation.-Cipla-is-the-“first-approved-applicant”-for-such-CGT-and,-is-therefore,-eligible-for-180-days-of-CGT-exclusivity-which-will-begin-to-run-from-the-commercial-marketing-of-Cipla's-product.-The-nasal-spray-is-indicated-for-the-treatment-of-migraine-headaches-and-is-a-generic-therapeutic-equivalent-version-of-Bausch-Health's-'Migranal'-spray.-

Global-Markets:

European-markets-were-trading-lower-as-tensions-between-US-and-China-spooked-investors.-Meanwhile,-Asian-markets-ended-mixed-as-investors-continue-to-monitor-the-reopening-of-economies-amid-the-coronavirus-pandemic.

President-Donald-Trump-stoked-tensions-by-tweeting-criticism-of-Xi-Jinping's-leadership,-two-days-before-the-biggest-Chinese-political-gathering-of-the-year.-

Japan's-trade-data-for-April-released-by-the-country's-Ministry-of-Finance-on-Thursday-showed-exports-in-April-plunging-21.9%-as-compared-to-a-year-earlier.

US-stock-markets-nudged-higher-on-Wednesday,-following-upbeat-quarterly-results-from-retailers-Target-and-Lowe's-that-had-investors-focused-on-American-businesses-reopening-and-the-coronavirus-pandemic-beginning-to-recede.

Investors-focused-on-the-positives-and-directed-their-attention-to-wider-reopening-plans-that-are-taking-place-throughout-the-U.S.-Many-states-have-been-lifting-restrictions-on-business-and-personal-activity-ahead-of-the-Memorial-Day-holiday-next-Monday.

The-Senate-approved-the-Holding-Foreign-Companies-Accountable-Act,-which-seeks-to-force-Chinese-companies-to-adhere-to-U.S.-securities-law,-ultimately-by-barring-many-from-listing-shares-on-U.S.-exchanges,-or-otherwise-raising-money-from-American-investors.-The-bill-still-would-need-to-pass-the-Democratic-controlled-House-of-Representatives-before-reaching-the-president's-desk-to-be-signed-into-law.

Minutes-of-the-Fed's-last-policy-meeting-in-April-published-Wednesday-showed-officials-also-discussed-how-to-convince-markets-that-interest-rates-will-stay-low-for-a-long-time

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