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Rally in banks shares catapult Nifty over 9300 mark
(15:30, 27 May 2020)

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Key-barometers-witnessed-a-blockbuster-rally-on-Wednesday,-led-by-a-surge-in-banks-shares.-The-Nifty-Bank-index-soared-over-7%-ahead-of-monthly-F&O-expiry-on-Thursday-(28-May).-

As-per-provisional-closing,-the-barometer-S&P-BSE-Sensex-jumped-995.92-points-or-3.25%-at-31,605.22.-The-Nifty-50-index-surged-286.85-points-or-3.18%-at-9,315.90.

The-Nifty-opened-higher-at-9082.20,-but-soon-pared-all-gains-and-hit-an-intraday-low-of-9004.25-in-early-trade.-The-index-took-the-support-at-9000-mark-and-bounced-back-in-mid-morning-session.-Strong-buying-pushed-the-index-above-9300-mark-in-mid-afternoon-trade.-

The-sentiment-was-boosted-after-China-on-Wednesday-said-that-the-situation-at-the-border-with-India-is-overall-stable-and-controllable,-and-both-the-countries-have-proper-mechanisms-and-communication-channels-to-resolve-the-issues-through-a-dialogue-and-consultation.-

The-comment-from-Foreign-Ministry-spokesman-Zhao-Lijian-came-as-a-big-relief-amid-continuing-standoff-between-the-militaries-of-India-and-China-at-the-Line-of-Actual-Control-(LAC).-Several-areas-along-the-nearly-3,500-km-long-LAC-in-Ladakh-and-North-Sikkim-have-witnessed-major-military-build-up-by-both-the-Indian-and-Chinese-armies-recently.

The-broader-market-trailed-the-benchmarks.-The-S&P-BSE-Mid-Cap-index-rose-0.49%-while-the-S&P-BSE-Small-Cap-index-gained-0.27%.

The-market-breadth-was-positive.-On-the-BSE,-1380-shares-rose-and-945-shares-fell.-A-total-of-172-shares-were-unchanged.-In-Nifty-50-index,-41-stocks-advanced-while-9-stocks-declined.

Buzzing-Index:

The-Nifty-Bank-index-surged-7.29%-to-18,712.35,-extending-gains-for-second-day.-The-index-lost-13.2%-in-the-past-one-month-while-the-benchmark-Nifty-50-index-fell-2.8%-during-the-same-period.

Among-state-run-lenders,-Canara-Bank-(up-6%),-State-Bank-of-India-(up-4.39%),-Punjab-National-Bank-(up-3.18%),-Bank-of-India-(up-2.23%),-Union-Bank-of-India-(up-1.31%)-and-Punjab-&-Sind-Bank-(up-0.78%)-edged-higher.

Among-private-lenders,-ICICI-Bank-(up-8.63%),-Bandhan-Bank-(up-8.07%),-RBL-Bank-(up-6.61%),-Federal-Bank-(up-5.98%),-HDFC-Bank-(up-5.46%),-IndusInd-Bank-(up-5.86%)-and-City-Union-Bank-(up-1.79%)-advanced.

Axis-Bank-jumped-13.49%.-The-media-reported-that-private-equity-major-Carlyle-has-started-talks-with-Axis-Bank-to-pump-in-around-a-billion-dollars-as-growing-systemic-level-stress-and-the-economic-slump-are-pushing-banks-and-shadow-lenders-to-create-provision-cushions-to-deal-with-future-asset-slippages.-The-deal-is-likely-to-be-in-the-form-of-primary-issuance-of-shares-via-a-preferential-allotment-route-that-may-result-in-Carlyle-owning-up-to-8%-stake-in-Axis-Bank.

Kotak-Mahindra-Bank-gained-5.79%-after-the-bank-announced-the-commencement-of-its-fund-raising-exercise-via-qualified-institutions-placement-(QIP)-issue-of-equity-shares-on-Tuesday,-26-May-2020.-The-bank-has-set-a-floor-price-of-₹-1,147.75-per-equity-share-for-the-QIP-issue.-The-bank-may-offer-a-discount-of-not-more-than-5%-on-the-floor-price.-The-bank-intends-to-use-the-net-proceeds-of-the-issue-to-augment-its-capital-base-and-to-strengthen-its-balance-sheet.

Q4-Results-Today:

United-Spirits-(down-1.36%),-Tata-Investment-Corporation-(up-2.45%),-Aditya-Birla-Fashion-and-Retail-(down-0.88%),-Vaibhav-Global-(down-0.77%),-Quess-Corp-(down-0.22%)-and-Ujjivan-Financial-Services-(up-3.94%),-are-some-of-the-companies-that-will-announce-their-quarterly-earnings-today.

Earnings-Impact:

Deepak-Nitrite-fell-0.08%.-The-chemical-maker's-standalone-net-profit-soared-105.6%-to-₹-116.26-crore-on-an-8.1%-rise-in-net-sales-to-₹-525.24-crore-in-Q4-March-2020-over-Q4-March-2019.-PBT-surged-83.5%-to-₹-159.71-crore-in-Q4-March-2020-over-Q4-March-2019.-Total-tax-expenses-rose-42.6%-to-₹-43.45-crore-in-Q4-March-2020.-EBITDA-margin-improved-to-35.2%-in-Q4-March-2020-from-22.7%-reported-in-Q4-March-2019.-Performance-was-led-by-realisation-gains-in-both-fine-&-speciality-chemicals-(FSC)-and-performance-products-(PP)-segment.

Torrent-Pharmaceuticals-tumbled-6.19%.-The-company-reported-consolidated-net-profit-of-₹-314-crore-in-Q4-March-2020-as-against-net-loss-of-₹-152-crore-in-Q4-March-2019.-Net-sales-rose-4.9%-to-₹-1,912-crore-in-Q4-March-2020-over-Q4-March-2019.-The-research-&-development-(R&D)-spend-gained-7%-to-₹-118-crore-in-Q4-March-2020-as-against-₹-139-crore-in-Q4-March-2019.-Pre-tax-profit-stood-at-₹-293-crore-in-Q4-March-2020-as-against-pre-tax-loss-of-₹-150-crore-in-Q4-March-2019.-Current-tax-expenses-fell-22.2%-to-₹-49-crore-in-Q4-March-2020-compared-with-₹-63-crore-in-Q4-March-2019.

VIP-Industries-fell-4.48%-after-consolidated-net-profit-dropped-62.3%-to-₹-9.52-crore-on-28.4%-fall-in-net-sales-to-₹-311.34-crore-in-Q4-March-2020-over-Q4-March-2019.-Profit-before-tax-(PBT)-tanked-71.10%-to-₹-10.45-crore-in-Q4-March-2020-as-against-₹-36.19-crore-in-Q4-March-2019.-Current-tax-expenses-also-tumbled-85.60%-to-₹-1.53-crore-in-Q4-March-2020-as-against-₹-10.64-crore-in-Q4-March-2019.-The-result-was-announced-post-trading-hours-yesterday,-26-May-2020.-EBITDA-slipped-11.9%-to-₹-37-crore-in-Q4-FY20-from-₹-42-crore-in-Q4-FY19.

Blue-Dart-Express-tumbled-3.38%-after-the-company-reported-a-consolidated-net-loss-of-₹-30.57-crore-in-Q4-March-2020-as-against-net-profit-of-₹-12.24-crore-in-Q4-March-2019.-Consolidated-net-sales-declined-7.1%-to-₹-726.30-crore-in-Q4-March-2020-from-₹-781.55-crore-in-Q4-March-2019.-The-company-reported-a-pre-tax-loss-of-₹-31.38-crore-in-Q4-March-2020-as-against-a-pre-tax-profit-of-₹-18.40-crore-in-Q4-March-2019.-Tax-expense-declined-33.7%-to-₹-8.64-crore-during-the-period-under-review.-The-result-was-announced-after-market-hours-yesterday,-26-May-2020.

Stocks-in-Spotlight:

Titan-Company-fell-0.65%-after-the-company-said-that-the-nationwide-lockdown-due-to-COVID-19-pandemic-posed-challenges-to-all-its-businesses.-Titan-Company-said-its-operations-were-hit-substantially-from-17-March-2020-till-the-1st-week-of-May-2020,-when-lockdown-was-gradually-lifted.-The-company-reported-marginal-sales-through-its-online-channel-at-the-end-of-April-but-delivery-for-these-were-affected-due-to-classification-of-its-products-as-non-essential-so-far.-In-last-2-months,-the-company's-operating-cash-flow-was-negative-due-to-virtually-zero-sales-during-the-first-six-weeks-of-lockdown,-increase-in-mark-to-market-cash-outflow-on-gold-hedge-due-to-rising-gold-prices-and-committed-costs-being-incurred.-However,-these-mark-to-market-cash-outflow-is-expected-to-be-recovered-when-sale-of-jewellery-commences.-Thus,-the-COVID-19-situation-is-expected-to-adversely-affect-the-profitability-during-the-first-half-of-this-year.

Relaxo-Footwears-fell-2.2%-after-the-company-said-its-profits-have-been-adversely-affected-due-to-lockdown.-The-footwear-maker-said-manufacturing-and-sales-operations-were-shut-down-in-last-few-days-of-March-and-April-2020-due-to-nationwide-lockdown.-The-overall-demand-of-footwear-decreased-substantially,-but-due-to-easing-lockdown-restrictions,-demand-for-open-slippers-has-improved.-Due-to-limited-operations,-fulfilling-the-demand-will-be-a-challenge.-In-lockdown-3,-the-company-started-manufacturing-in-two-plants-with-limited-volume.-In-lockdown-4,-the-firm-started-four-more-plants-with-reduced-restrictions.-It-is-in-the-process-of-starting-operations-in-remaining-manufacturing-plants.

-Global-Markets:

European-markets-were-trading-with-strong-gains-as-the-region-prepares-itself-to-unleash-a-new-coronavirus-stimulus-package.-European-Commission-President-Ursula-von-der-Leyen-is-set-to-present-her-own-proposal-on-Wednesday,-27-May-2020,-building-on-the-Franco-German-plan-for-an-economic-stimulus.

Asian-markets-closed-on-a-mixed-note-as-investor-concerns-about-rising-tensions-between-the-United-States-and-China-over-Hong-Kong-tempered-optimism-about-a-re-opening-of-the-world-economy.-The-White-House-reportedly-said-a-proposed-national-security-law-might-jeopardize-the-Chinese-territory's-status-as-a-global-financial-center.-The-law-being-considered-for-Hong-Kong-by-the-Chinese-legislature-has-prompted-warnings-it-might-erode-the-independence-of-courts-and-other-elements-that-help-to-make-the-former-British-colony-a-business-center.

As-per-reports,-the-US-was-considering-sanctions-on-Chinese-firms-and-officials-over-the-situation-in-Hong-Kong.-US-President-Donald-Trump-will-reportedly-make-an-announcement-about-the-administration's-response-to-China's-actions-by-the-end-of-this-week.

The-US-equity-market-finished-session-sharply-higher-on-Tuesday,-26-May-2020,-as-investors-were-emboldened-by-fresh-coronavirus-vaccine-news-from-Novavax-and-Merck-and-signs-that-global-economies-are-crawling-back-from-the-pandemic-shutdown.-The-S&P-500-exceeded-its-200-day-moving-average-(DMA)-for-the-first-time-since-5-March,-but-failed-to-close-above-the-key-level.-Rising-above-200-DMA-could-signal-a-change-in-long-term-trend-from-bearish-to-bullish.

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Key-barometers-witnessed-a-blockbuster-rally-on-Wednesday,-led-by-a-surge-in-banks-shares.-The-Nifty-Bank-index-soared-over-7%-ahead-of-monthly-F&O-expiry-on-Thursday-(28-May).-

As-per-provisional-closing,-the-barometer-S&P-BSE-Sensex-jumped-995.92-points-or-3.25%-at-31,605.22.-The-Nifty-50-index-surged-286.85-points-or-3.18%-at-9,315.90.

The-Nifty-opened-higher-at-9082.20,-but-soon-pared-all-gains-and-hit-an-intraday-low-of-9004.25-in-early-trade.-The-index-took-the-support-at-9000-mark-and-bounced-back-in-mid-morning-session.-Strong-buying-pushed-the-index-above-9300-mark-in-mid-afternoon-trade.-

The-sentiment-was-boosted-after-China-on-Wednesday-said-that-the-situation-at-the-border-with-India-is-overall-stable-and-controllable,-and-both-the-countries-have-proper-mechanisms-and-communication-channels-to-resolve-the-issues-through-a-dialogue-and-consultation.-

The-comment-from-Foreign-Ministry-spokesman-Zhao-Lijian-came-as-a-big-relief-amid-continuing-standoff-between-the-militaries-of-India-and-China-at-the-Line-of-Actual-Control-(LAC).-Several-areas-along-the-nearly-3,500-km-long-LAC-in-Ladakh-and-North-Sikkim-have-witnessed-major-military-build-up-by-both-the-Indian-and-Chinese-armies-recently.

The-broader-market-trailed-the-benchmarks.-The-S&P-BSE-Mid-Cap-index-rose-0.49%-while-the-S&P-BSE-Small-Cap-index-gained-0.27%.

The-market-breadth-was-positive.-On-the-BSE,-1380-shares-rose-and-945-shares-fell.-A-total-of-172-shares-were-unchanged.-In-Nifty-50-index,-41-stocks-advanced-while-9-stocks-declined.

Buzzing-Index:

The-Nifty-Bank-index-surged-7.29%-to-18,712.35,-extending-gains-for-second-day.-The-index-lost-13.2%-in-the-past-one-month-while-the-benchmark-Nifty-50-index-fell-2.8%-during-the-same-period.

Among-state-run-lenders,-Canara-Bank-(up-6%),-State-Bank-of-India-(up-4.39%),-Punjab-National-Bank-(up-3.18%),-Bank-of-India-(up-2.23%),-Union-Bank-of-India-(up-1.31%)-and-Punjab-&-Sind-Bank-(up-0.78%)-edged-higher.

Among-private-lenders,-ICICI-Bank-(up-8.63%),-Bandhan-Bank-(up-8.07%),-RBL-Bank-(up-6.61%),-Federal-Bank-(up-5.98%),-HDFC-Bank-(up-5.46%),-IndusInd-Bank-(up-5.86%)-and-City-Union-Bank-(up-1.79%)-advanced.

Axis-Bank-jumped-13.49%.-The-media-reported-that-private-equity-major-Carlyle-has-started-talks-with-Axis-Bank-to-pump-in-around-a-billion-dollars-as-growing-systemic-level-stress-and-the-economic-slump-are-pushing-banks-and-shadow-lenders-to-create-provision-cushions-to-deal-with-future-asset-slippages.-The-deal-is-likely-to-be-in-the-form-of-primary-issuance-of-shares-via-a-preferential-allotment-route-that-may-result-in-Carlyle-owning-up-to-8%-stake-in-Axis-Bank.

Kotak-Mahindra-Bank-gained-5.79%-after-the-bank-announced-the-commencement-of-its-fund-raising-exercise-via-qualified-institutions-placement-(QIP)-issue-of-equity-shares-on-Tuesday,-26-May-2020.-The-bank-has-set-a-floor-price-of-₹-1,147.75-per-equity-share-for-the-QIP-issue.-The-bank-may-offer-a-discount-of-not-more-than-5%-on-the-floor-price.-The-bank-intends-to-use-the-net-proceeds-of-the-issue-to-augment-its-capital-base-and-to-strengthen-its-balance-sheet.

Q4-Results-Today:

United-Spirits-(down-1.36%),-Tata-Investment-Corporation-(up-2.45%),-Aditya-Birla-Fashion-and-Retail-(down-0.88%),-Vaibhav-Global-(down-0.77%),-Quess-Corp-(down-0.22%)-and-Ujjivan-Financial-Services-(up-3.94%),-are-some-of-the-companies-that-will-announce-their-quarterly-earnings-today.

Earnings-Impact:

Deepak-Nitrite-fell-0.08%.-The-chemical-maker's-standalone-net-profit-soared-105.6%-to-₹-116.26-crore-on-an-8.1%-rise-in-net-sales-to-₹-525.24-crore-in-Q4-March-2020-over-Q4-March-2019.-PBT-surged-83.5%-to-₹-159.71-crore-in-Q4-March-2020-over-Q4-March-2019.-Total-tax-expenses-rose-42.6%-to-₹-43.45-crore-in-Q4-March-2020.-EBITDA-margin-improved-to-35.2%-in-Q4-March-2020-from-22.7%-reported-in-Q4-March-2019.-Performance-was-led-by-realisation-gains-in-both-fine-&-speciality-chemicals-(FSC)-and-performance-products-(PP)-segment.

Torrent-Pharmaceuticals-tumbled-6.19%.-The-company-reported-consolidated-net-profit-of-₹-314-crore-in-Q4-March-2020-as-against-net-loss-of-₹-152-crore-in-Q4-March-2019.-Net-sales-rose-4.9%-to-₹-1,912-crore-in-Q4-March-2020-over-Q4-March-2019.-The-research-&-development-(R&D)-spend-gained-7%-to-₹-118-crore-in-Q4-March-2020-as-against-₹-139-crore-in-Q4-March-2019.-Pre-tax-profit-stood-at-₹-293-crore-in-Q4-March-2020-as-against-pre-tax-loss-of-₹-150-crore-in-Q4-March-2019.-Current-tax-expenses-fell-22.2%-to-₹-49-crore-in-Q4-March-2020-compared-with-₹-63-crore-in-Q4-March-2019.

VIP-Industries-fell-4.48%-after-consolidated-net-profit-dropped-62.3%-to-₹-9.52-crore-on-28.4%-fall-in-net-sales-to-₹-311.34-crore-in-Q4-March-2020-over-Q4-March-2019.-Profit-before-tax-(PBT)-tanked-71.10%-to-₹-10.45-crore-in-Q4-March-2020-as-against-₹-36.19-crore-in-Q4-March-2019.-Current-tax-expenses-also-tumbled-85.60%-to-₹-1.53-crore-in-Q4-March-2020-as-against-₹-10.64-crore-in-Q4-March-2019.-The-result-was-announced-post-trading-hours-yesterday,-26-May-2020.-EBITDA-slipped-11.9%-to-₹-37-crore-in-Q4-FY20-from-₹-42-crore-in-Q4-FY19.

Blue-Dart-Express-tumbled-3.38%-after-the-company-reported-a-consolidated-net-loss-of-₹-30.57-crore-in-Q4-March-2020-as-against-net-profit-of-₹-12.24-crore-in-Q4-March-2019.-Consolidated-net-sales-declined-7.1%-to-₹-726.30-crore-in-Q4-March-2020-from-₹-781.55-crore-in-Q4-March-2019.-The-company-reported-a-pre-tax-loss-of-₹-31.38-crore-in-Q4-March-2020-as-against-a-pre-tax-profit-of-₹-18.40-crore-in-Q4-March-2019.-Tax-expense-declined-33.7%-to-₹-8.64-crore-during-the-period-under-review.-The-result-was-announced-after-market-hours-yesterday,-26-May-2020.

Stocks-in-Spotlight:

Titan-Company-fell-0.65%-after-the-company-said-that-the-nationwide-lockdown-due-to-COVID-19-pandemic-posed-challenges-to-all-its-businesses.-Titan-Company-said-its-operations-were-hit-substantially-from-17-March-2020-till-the-1st-week-of-May-2020,-when-lockdown-was-gradually-lifted.-The-company-reported-marginal-sales-through-its-online-channel-at-the-end-of-April-but-delivery-for-these-were-affected-due-to-classification-of-its-products-as-non-essential-so-far.-In-last-2-months,-the-company's-operating-cash-flow-was-negative-due-to-virtually-zero-sales-during-the-first-six-weeks-of-lockdown,-increase-in-mark-to-market-cash-outflow-on-gold-hedge-due-to-rising-gold-prices-and-committed-costs-being-incurred.-However,-these-mark-to-market-cash-outflow-is-expected-to-be-recovered-when-sale-of-jewellery-commences.-Thus,-the-COVID-19-situation-is-expected-to-adversely-affect-the-profitability-during-the-first-half-of-this-year.

Relaxo-Footwears-fell-2.2%-after-the-company-said-its-profits-have-been-adversely-affected-due-to-lockdown.-The-footwear-maker-said-manufacturing-and-sales-operations-were-shut-down-in-last-few-days-of-March-and-April-2020-due-to-nationwide-lockdown.-The-overall-demand-of-footwear-decreased-substantially,-but-due-to-easing-lockdown-restrictions,-demand-for-open-slippers-has-improved.-Due-to-limited-operations,-fulfilling-the-demand-will-be-a-challenge.-In-lockdown-3,-the-company-started-manufacturing-in-two-plants-with-limited-volume.-In-lockdown-4,-the-firm-started-four-more-plants-with-reduced-restrictions.-It-is-in-the-process-of-starting-operations-in-remaining-manufacturing-plants.

-Global-Markets:

European-markets-were-trading-with-strong-gains-as-the-region-prepares-itself-to-unleash-a-new-coronavirus-stimulus-package.-European-Commission-President-Ursula-von-der-Leyen-is-set-to-present-her-own-proposal-on-Wednesday,-27-May-2020,-building-on-the-Franco-German-plan-for-an-economic-stimulus.

Asian-markets-closed-on-a-mixed-note-as-investor-concerns-about-rising-tensions-between-the-United-States-and-China-over-Hong-Kong-tempered-optimism-about-a-re-opening-of-the-world-economy.-The-White-House-reportedly-said-a-proposed-national-security-law-might-jeopardize-the-Chinese-territory's-status-as-a-global-financial-center.-The-law-being-considered-for-Hong-Kong-by-the-Chinese-legislature-has-prompted-warnings-it-might-erode-the-independence-of-courts-and-other-elements-that-help-to-make-the-former-British-colony-a-business-center.

As-per-reports,-the-US-was-considering-sanctions-on-Chinese-firms-and-officials-over-the-situation-in-Hong-Kong.-US-President-Donald-Trump-will-reportedly-make-an-announcement-about-the-administration's-response-to-China's-actions-by-the-end-of-this-week.

The-US-equity-market-finished-session-sharply-higher-on-Tuesday,-26-May-2020,-as-investors-were-emboldened-by-fresh-coronavirus-vaccine-news-from-Novavax-and-Merck-and-signs-that-global-economies-are-crawling-back-from-the-pandemic-shutdown.-The-S&P-500-exceeded-its-200-day-moving-average-(DMA)-for-the-first-time-since-5-March,-but-failed-to-close-above-the-key-level.-Rising-above-200-DMA-could-signal-a-change-in-long-term-trend-from-bearish-to-bullish.

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