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Sensex, Nifty trade almost flat; pharma stocks rise
(11:26, 29 May 2020)

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The-main-equity-indices-pared-early-losses-and-traded-near-the-flat-line-in-mid-morning-trade.-At-11:25-IST,-the-barometer-index,-the-S&P-BSE-Sensex,-was-down-34.76-points-or-0.11%-at-32,165.83.-The-Nifty-50-index-was-up-14-points-or-0.15%-at-9,504.10.-

Investors-remained-on-the-sidelines-ahead-of-the-release-of-India's-Q4-FY20-GDP-figures-today.-Traders-were-also-cautious-amid-rising-cases-of-coronavirus-in-India.-Locust-attacks-have-also-raised-worries-on-farm-output,-besides-tensions-at-the-India-China-border.-

The-broader-market-was-trading-firm.-The-S&P-BSE-Mid-Cap-index-gained-1.16%-while-the-S&P-BSE-Small-Cap-index-added-1.31%.-

The-market-breadth-was-positive.-On-the-BSE,-1226-shares-rose-and-710-shares-fell.-A-total-of-125-shares-were-unchanged.-In-the-Nifty-50-index,-34-shares-advanced-while-16-stocks-declined.-

Foreign-portfolio-investors-(FPIs)-bought-shares-worth-₹-2,354.14-crore,-while-domestic-institutional-investors-(DIIs),-were-net-buyers-to-the-tune-of-₹-144.83-crore-in-the-Indian-equity-market-on-28-May,-provisional-data-showed.

Covid-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-58,13,997-far-with-3,60,397-deaths.-India-reported-89,987-active-cases-of-COVID-19-infection-and-4,706-deaths,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Buzzing-Index:-

The-Nifty-Pharma-index-rose-1.57%-to-9,613.25,-extending-gains-for-second-day.-The-index-has-gained-3.1%-in-the-past-one-month-while-the-benchmark-Nifty-50-index-has-lost-3.7%-during-the-same-period.

Glenmark-Pharmaceuticals-(up-3.04%),-Cadila-Healthcare-(up-2.54%),-Cipla-(up-2.51%),-Dr-Reddy's-Laboratories-(up-2.19%),-Divi's-Laboratories-(up-2.08%),-Aurobindo-Pharma-(up-2.07%),-Strides-Pharma-Science-(up-1.69%),-IPCA-Laboratories-(up-0.95%),-Abbott-India-(up-0.93%),-Sun-Pharmaceutical-Industries-(up-0.82%),-GlaxoSmithKline-Pharmaceuticals-(up-0.64%),-Piramal-Enterprises-(up-0.47%)-and-Wockhardt-(up-0.2%)-advanced.

Earnings-Impact:

TVS-Motor-Company-added-0.66%-to-₹-335.15.-The-automaker's-consolidated-net-profit-fell-47%-to-₹-74.04-crore-on-17.2%-decline-in-net-sales-to-₹-4104.71-crore-in-Q4-March-2020-over-Q4-March-2019.-Consolidated-profit-before-tax-(PBT)-stood-at-₹-114.83-crore-in-Q4-March-2020,-declining-47%-from-₹-217.19-crore-in-Q4-March-2019.-

During-March-2020,-the-company-incurred-₹-40.33-crore-towards-COVID-19-related-expenses-and-reported-as-an-exceptional-item-in-the-above-financials.-The-company-has-provided-₹-22-crore-towards-onetime-additional-discount-to-liquidate-BSIV-vehicles-during-end-March-2020-and-the-same-is-netted-of-against-the-revenue-reported-in-the-current-quarter.

The-overall-two-wheeler-and-three-wheeler-sales-including-exports-registered-6.33-lakh-units-in-Q4-March-2020,-lower-than-9.07-lakh-units-in-Q4-March-2019.-Motorcycle-sales-registered-2.80-lakh-units-in-Q4-March-2020,-lower-than-3.75-lakh-units-in-Q4-March-2019.-Scooter-sales-for-Q4-March-2020-is-1.67-lakh-units,-lower-than-the-sales-of-2.71-lakh-units-in-the-fourth-quarter-of-2018-19.-

Total-export-of-two-wheelers-and-three-wheelers-is-2.04-lakh-units-in-the-quarter-under-review-as-against-1.96-lakh-units-in-Q4-March-2019-registering-a-growth-of-4.2%.-Three-wheeler-sales-for-the-quarter-under-review-is-0.43-lakh-units-as-against-0.42-lakh-units-during-fourth-quarter-of-2018-19.

Lupin-fell-1.43%-to-₹-868.85.-The-company's-consolidated-net-profit-jumped-32%-to-₹-391.29-crore-on-0.4%-slip-in-net-sales-to-₹-3,791-crore-in-Q4-March-2020-over-Q4-March-2019.-The-jump-in-net-profit-was-supported-by-a-185%-surge-in-other-income-and-an-exceptional-gain-of-₹-83-crore.-The-exceptional-gain-was-due-to-profit-on-sale-of-its-stake-in-Kyowa-Pharmaceutical-Industry.

Consolidated-profit-before-tax-(PBT)-dropped-16%-to-₹-496.36-crore-in-Q4-March-2020-as-against-₹-590.64-crore-in-Q4-March-2019.-EBITDA-fell-13.9%-to-₹-733.90-crore-in-Q4-March-2020-from-₹-852.50-crore-in-Q4-March-2019.-EBITDA-margin-stood-at-19.4%-in-Q4-FY20-as-against-22.4%-in-Q4-FY19.

Investment-in-R&D-for-continued-operations-amounted-to-₹-344.20-crore-(9.1%-of-sales)-for-Q4-FY20.-Total-formulations-sales-fell-1.5%-to-₹-3462.40-crore-while-total-API-sales-rose-12.8%-to-328.60-crore-in-Q4-March-2020-over-Q4-March-2019.

-Global-Markets:

Overseas,-Asian-stocks-are-trading-mostly-higher-on-Friday-as-investors-watch-for-market-reaction-to-China's-controversial-national-security-law-for-Hong-Kong-that-was-approved-on-Thursday.

The-U.S.,-Australia,-Canada-and-the-U.K.-governments-issued-a-joint-statement-Thursday-reiterating-their-deep-concern-regarding-Beijing's-decision-to-impose-a-national-security-law-on-Hong-Kong,-after-China's-parliament,-the-National-People's-Congress-passed-legislation-Thursday-that-could-greatly-curtail-democratic-freedoms.

On-the-economic-data-front,-Japan's-retail-sales-fell-13.7%-year-on-year-in-April,-according-to-data-released-today-showed.

In-US,-Wall-Street-ended-lower-on-Thursday-following-a-late-session-reversal,-with-Facebook-weighing-on-the-market-after-President-Donald-Trump-said-he-would-sign-an-executive-order-related-to-social-media-companies-and-would-hold-a-news-conference-on-China-on-Friday.

On-the-economic-front,-US-GDP-contracted-at-an-annual-5%-pace-in-the-first-quarter-instead-of-4.8%,-revised-government-data-showed.

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The-main-equity-indices-pared-early-losses-and-traded-near-the-flat-line-in-mid-morning-trade.-At-11:25-IST,-the-barometer-index,-the-S&P-BSE-Sensex,-was-down-34.76-points-or-0.11%-at-32,165.83.-The-Nifty-50-index-was-up-14-points-or-0.15%-at-9,504.10.-

Investors-remained-on-the-sidelines-ahead-of-the-release-of-India's-Q4-FY20-GDP-figures-today.-Traders-were-also-cautious-amid-rising-cases-of-coronavirus-in-India.-Locust-attacks-have-also-raised-worries-on-farm-output,-besides-tensions-at-the-India-China-border.-

The-broader-market-was-trading-firm.-The-S&P-BSE-Mid-Cap-index-gained-1.16%-while-the-S&P-BSE-Small-Cap-index-added-1.31%.-

The-market-breadth-was-positive.-On-the-BSE,-1226-shares-rose-and-710-shares-fell.-A-total-of-125-shares-were-unchanged.-In-the-Nifty-50-index,-34-shares-advanced-while-16-stocks-declined.-

Foreign-portfolio-investors-(FPIs)-bought-shares-worth-₹-2,354.14-crore,-while-domestic-institutional-investors-(DIIs),-were-net-buyers-to-the-tune-of-₹-144.83-crore-in-the-Indian-equity-market-on-28-May,-provisional-data-showed.

Covid-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-58,13,997-far-with-3,60,397-deaths.-India-reported-89,987-active-cases-of-COVID-19-infection-and-4,706-deaths,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Buzzing-Index:-

The-Nifty-Pharma-index-rose-1.57%-to-9,613.25,-extending-gains-for-second-day.-The-index-has-gained-3.1%-in-the-past-one-month-while-the-benchmark-Nifty-50-index-has-lost-3.7%-during-the-same-period.

Glenmark-Pharmaceuticals-(up-3.04%),-Cadila-Healthcare-(up-2.54%),-Cipla-(up-2.51%),-Dr-Reddy's-Laboratories-(up-2.19%),-Divi's-Laboratories-(up-2.08%),-Aurobindo-Pharma-(up-2.07%),-Strides-Pharma-Science-(up-1.69%),-IPCA-Laboratories-(up-0.95%),-Abbott-India-(up-0.93%),-Sun-Pharmaceutical-Industries-(up-0.82%),-GlaxoSmithKline-Pharmaceuticals-(up-0.64%),-Piramal-Enterprises-(up-0.47%)-and-Wockhardt-(up-0.2%)-advanced.

Earnings-Impact:

TVS-Motor-Company-added-0.66%-to-₹-335.15.-The-automaker's-consolidated-net-profit-fell-47%-to-₹-74.04-crore-on-17.2%-decline-in-net-sales-to-₹-4104.71-crore-in-Q4-March-2020-over-Q4-March-2019.-Consolidated-profit-before-tax-(PBT)-stood-at-₹-114.83-crore-in-Q4-March-2020,-declining-47%-from-₹-217.19-crore-in-Q4-March-2019.-

During-March-2020,-the-company-incurred-₹-40.33-crore-towards-COVID-19-related-expenses-and-reported-as-an-exceptional-item-in-the-above-financials.-The-company-has-provided-₹-22-crore-towards-onetime-additional-discount-to-liquidate-BSIV-vehicles-during-end-March-2020-and-the-same-is-netted-of-against-the-revenue-reported-in-the-current-quarter.

The-overall-two-wheeler-and-three-wheeler-sales-including-exports-registered-6.33-lakh-units-in-Q4-March-2020,-lower-than-9.07-lakh-units-in-Q4-March-2019.-Motorcycle-sales-registered-2.80-lakh-units-in-Q4-March-2020,-lower-than-3.75-lakh-units-in-Q4-March-2019.-Scooter-sales-for-Q4-March-2020-is-1.67-lakh-units,-lower-than-the-sales-of-2.71-lakh-units-in-the-fourth-quarter-of-2018-19.-

Total-export-of-two-wheelers-and-three-wheelers-is-2.04-lakh-units-in-the-quarter-under-review-as-against-1.96-lakh-units-in-Q4-March-2019-registering-a-growth-of-4.2%.-Three-wheeler-sales-for-the-quarter-under-review-is-0.43-lakh-units-as-against-0.42-lakh-units-during-fourth-quarter-of-2018-19.

Lupin-fell-1.43%-to-₹-868.85.-The-company's-consolidated-net-profit-jumped-32%-to-₹-391.29-crore-on-0.4%-slip-in-net-sales-to-₹-3,791-crore-in-Q4-March-2020-over-Q4-March-2019.-The-jump-in-net-profit-was-supported-by-a-185%-surge-in-other-income-and-an-exceptional-gain-of-₹-83-crore.-The-exceptional-gain-was-due-to-profit-on-sale-of-its-stake-in-Kyowa-Pharmaceutical-Industry.

Consolidated-profit-before-tax-(PBT)-dropped-16%-to-₹-496.36-crore-in-Q4-March-2020-as-against-₹-590.64-crore-in-Q4-March-2019.-EBITDA-fell-13.9%-to-₹-733.90-crore-in-Q4-March-2020-from-₹-852.50-crore-in-Q4-March-2019.-EBITDA-margin-stood-at-19.4%-in-Q4-FY20-as-against-22.4%-in-Q4-FY19.

Investment-in-R&D-for-continued-operations-amounted-to-₹-344.20-crore-(9.1%-of-sales)-for-Q4-FY20.-Total-formulations-sales-fell-1.5%-to-₹-3462.40-crore-while-total-API-sales-rose-12.8%-to-328.60-crore-in-Q4-March-2020-over-Q4-March-2019.

-Global-Markets:

Overseas,-Asian-stocks-are-trading-mostly-higher-on-Friday-as-investors-watch-for-market-reaction-to-China's-controversial-national-security-law-for-Hong-Kong-that-was-approved-on-Thursday.

The-U.S.,-Australia,-Canada-and-the-U.K.-governments-issued-a-joint-statement-Thursday-reiterating-their-deep-concern-regarding-Beijing's-decision-to-impose-a-national-security-law-on-Hong-Kong,-after-China's-parliament,-the-National-People's-Congress-passed-legislation-Thursday-that-could-greatly-curtail-democratic-freedoms.

On-the-economic-data-front,-Japan's-retail-sales-fell-13.7%-year-on-year-in-April,-according-to-data-released-today-showed.

In-US,-Wall-Street-ended-lower-on-Thursday-following-a-late-session-reversal,-with-Facebook-weighing-on-the-market-after-President-Donald-Trump-said-he-would-sign-an-executive-order-related-to-social-media-companies-and-would-hold-a-news-conference-on-China-on-Friday.

On-the-economic-front,-US-GDP-contracted-at-an-annual-5%-pace-in-the-first-quarter-instead-of-4.8%,-revised-government-data-showed.

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