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Sensex end with small losses
(15:35, 26 May 2020)

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The-Sensex-pared-early-gains-and-ended-with-small-losses-on-Tuesday.-Selling-in-IT-and-pharma-stocks-eclipsed-buying-in-metal,-auto-and-banks-stocks.-As-per-provisional-closing,-the-barometer-S&P-BSE-Sensex-was-down-63.29-points-or-0.21%-at-30,609.30.-The-Nifty-50-index-was-up-5.8-points-or-0.06%-at-9,045.05.

The-Nifty-opened-higher-at-9,099.75-and-hit-an-intraday-high-of-9,161.65-in-early-trade.-The-index-pared-gains-as-profit-selling-emerged-at-higher-levels.-The-Nifty-turned-negative-and-hit-an-intraday-low-of-8,996.65-in-mid-afternoon-trade.-It-regained-the-9,000-mark-in-late-trade.

The-broader-market-outperformed.-The-S&P-BSE-Mid-Cap-index-was-surged-1.24%-while-the-S&P-BSE-Small-Cap-index-rose-0.57%.

The-market-breadth-was-positive.-On-the-BSE,-1229-shares-rose-and-1121-shares-fell.-A-total-of-184-shares-were-unchanged.-In-Nifty-50-index,-31-stocks-advanced-while-19-stocks-declined.-

Buzzing-Index:

The-Nifty-Pharma-index-declined-1.17%-to-9,488.70,-snapping-its-three-days-winning-run.-The-index-gained-5.68%-in-the-past-three-trading-sessions.

Piramal-Enterprises-(down-4.91%),-Cadila-Healthcare-(down-2.28%),-Sun-Pharmaceutical-Inds-(down-2.12%),-Aurobindo-Pharma-(down-2%),-Cipla-(down-1.72%),-Divi's-Laboratories-(down-0.86%)-and-Dr.-Reddy's-Laboratories-(down-0.72%)-were-top-losers-in-Nifty-Pharma-index.

Glenmark-Pharmaceuticals-announced-a-new-randomized,-open-label-study-to-test-the-combined-efficacy-of-two-antiviral-drugs-Favipiravir-and-Umifenovir-as-a-potential-COVID-19-treatment-strategy.-Shares-of-Glenmark-Pharmaceuticals-were-trading-1.11%-lower-at-₹-347.90.

Indoco-Remedies-gained-1.5%-after-the-pharmaceutical-company-announced-receiving-approval-for-its-abbreviated-new-drug-application-(ANDA)-for-Succinylcholine-Chloride-injection-USP-200-mg/-10-ml-(20-mg/ml)-multi‐dose-vial,-therapeutically-equivalent-to-the-reference-listed-drug-(RLD)-Quelicin-Injection-of-Hospira,-Inc.-Succinylcholine-Chloride-injection-is-indicated-as-an-adjunct-to-general-anesthesia,-to-facilitate-tracheal-intubation,-and-to-provide-skeletal-muscle-relaxation-during-surgery-or-mechanical-ventilation.-The-product-is-being-used-for-some-patients-infected-with-Corona-virus-(COVID‐19).

Q4-Results-Today:

Torrent-Pharmaceuticals-(down-0.88%),-Deepak-Nitrite-(up-1.71%),-Max-Financial-Services-(up-2.15%),-Blue-Dart-(up-1.16%),-Coromandel-International-(down-0.05%),-Praj-Industries-(up-1.79%),-V.I.P-Industries-(up-0.8%)-and-Wonderla-Holidays-(down-0.67%)-are-some-of-the-companies-that-will-announce-their-quarterly-results-today.

Earnings-Impact:

HDFC-was-down-0.86%-after-the-housing-finance-major's-standalone-net-profit-declined-22%-to-₹-2232.53-on-3.41%-rise-in-total-income-to-₹-11,981.66-crore-in-Q4-March-2020-over-Q4-March-2019.-Dividend-income-slumped-to-₹-2.08-crore-in-Q4-FY20-from-₹-536.88-crore-in-Q4-FY19.-“-With-dividend-distribution-tax-being-abolished,-some-of-the-subsidiary-company-did-not-pay-interim-dividend,-the-firm-said.-Profit-on-sale-of-investment-was-₹-2-crore-in-Q4-FY20-as-against-₹-321-crore-in-Q4-FY19.-Fair-value-changes-charged-to-the-statement-of-profit-and-loss---largely-on-account-of-the-fall-in-the-stock-markets,-was-₹-428-crore-in-Q4-FY20,-higher-than-₹-167-crore-in-the-previous-year.

On-the-asset-quality-front,-the-gross-non-performing-loans-as-at-31-March-2020-stood-at-₹-8,908-crore.-This-is-equivalent-to-1.99%-of-the-loan-portfolio.-Increase-in-provisioning,-including-impact-for-COVID-19,-was-₹-1,274-crore-in-Q4-FY20,-higher-than-₹-398-crore-in-the-previous-year.

Inclusive-of-fees-and-income-from-assigned-loans,-the-Net-Interest-Income-(NII)-for-the-quarter-ended-31-March-2020-stood-at-₹-3,780-crore-compared-to-₹-3,238-crore-in-the-previous-year,-representing-a-growth-of-17%.-The-board-of-HDFC-approved-a-dividend-of-₹-21-per-share-for-the-year-ended-March-2020.

Avenue-Supermarts-tumbled-4.94%-after-the-company-warned-that-the-challenges-are-likely-to-continue-in-the-current-financial-year-as-the-economy-gradually-opens-after-the-lockdown.-

The-supermarket-chain-operator-announced-Q4-results-on-Saturday-(23-May-2020).-The-firm's-consolidated-net-profit-jumped-41.61%-to-₹-271-crore-on-23.6%-increase-in-to-₹-6,256-crore-in-Q4-March-2020-over-Q4-March-2019.-EBITDA-rose-12.1%-to-₹-417-crore-in-Q4-FY20-from-₹-372-crore-in-Q4-FY19.-EBITDA-margin-stood-at-6.7%-in-Q4-March-2020,-lower-than-7.4%-in-Q4-March-2019.

The-company-said-its-overall-revenue-during-the-month-of-March-2020-grew-by-just-11%-over-March-2019-due-to-the-lockdown-effect-of-the-last-9-days-of-March-this-year.-The-trend-rapidly-deteriorated-in-April-during-which-more-than-half-of-its-stores-remaining-closed-for-operations-or-operating-for-extremely-restricted-hours.-

IDFC-First-Bank-jumped-5.57%-after-the-bank-reported-a-net-profit-of-₹-71.54-crore-in-Q4-March-2020-as-against-net-loss-of-₹-218.03-crore-reported-in-Q4-March-2019.-Total-income-rose-13.8%-to-₹-4439.63-crore-in-Q4-March-2020-from-₹-3902.11-crore-reported-in-Q4-March-2019.-The-result-was-announced-after-market-hours-on-22-March-2020.

The-bank-posted-reported-a-strong-growth-in-core-earnings.-Net-Interest-Income-(NII)-grew-by-40%-to-₹-1,563-crore-in-Q4-March-2020-from-₹-1,113-crore-in-Q4-March-2019.-Net-interest-margin-improved-to-4.24%-in-Q4-March-2020-from-3.03%-in-Q4-March-2019.-On-asset-quality-front,-the-bank's-gross-non-performing-assets-(NPAs)-stood-at-₹-2279.56-crore-as-on-31-March-2020-as-against-₹-2511.36-crore-as-on-31-December-2019-and-₹-2136.04-crore-as-on-31-March-2019.-The-ratio-of-gross-NPAs-to-gross-advances-stood-at-2.6%-as-on-31-March-2020-as-against-2.83%-as-on-31-December-2019-and-2.43%-as-on-31-March-2019.

Bata-India-was-up-0.63%.-The-footwear-maker's-consolidated-net-profit-tumbled-56.7%-to-₹-38.41-crore-on-8.77%-decline-in-net-sales-to-₹-620.57-crore-in-Q4-March-2020-over-Q4-March-2019.-Profit-before-tax-(PBT)-fell-45%-to-₹-58.18-crore-during-the-period-under-review.-The-result-was-impacted-due-to-loss-of-revenue-resulting-from-COVID-19-outbreak-and-due-the-impact-of-adopting-Ind-AS-116.-The-footwear-maker-reported-a-good-growth-of-8%-(January-&-February-2020)-before-the-pandemic-forced-closure-of-stores-in-mid-March-resulting-in-a-decline-for-the-quarter.-Bata-said,-This-year's-growth-can-be-credited-to-company's-continuous-focus-on-strengthening-its-product-portfolio,-innovation-and-design,-new-store-openings-and-renovation,-enhancing-customer-experience-as-well-as-new-marketing-campaigns.

Aarti-Industries-slipped-1.71%-after-consolidated-net-profit-fell-11.90%-to-₹-110.35-crore-on-a-5.69%-decline-in-net-sales-to-₹-1076.15-crore-in-Q4-March-2020-over-Q4-March-2019.-Consolidated-revenue-of-specialty-chemicals-segment-was-marginally-lower,-by-0.44%,-as-it-stood-at-₹-983.54-crore-while-the-earnings-of-the-pharmaceuticals-segment-contracted-by-3.01%-to-₹-206.36-in-the-fourth-quarter-as-compared-to-the-corresponding-period-last-year.

GMM-Pfaudler-slumped-5.72%-The-firm's-net-profit-declined-13%-to-₹-11.60-crore-on-5.28%-decline-in-net-sales-to-₹-131.78-crore-in-Q4-March-2020-over-Q4-March-2019.-EBITDA-improved-14%-to-₹-22.5-crore-in-Q4-FY20-from-₹-19.8-crore-in-Q4-FY19.-EBITDA-margin-stood-at-17%-in-Q4-FY20,-higher-than-14%-in-Q4-FY19.-COVID-19-began-impacting-our-normal-business-operations-on-14th-March-2020-by-affecting-our-supply-chain-and-our-ability-to-ship-ready-equipment-to-our-customers,-our-production-eventually-shut-down-completely-on-March-23rd,-2020.-All-in-all,-additional-revenue-that-could-have-been-recognized-in-the-last-quarter-in-a-normal-business-environment-is-estimated-to-be-₹-300-million,-the-company-said-in-a-statement.

Stocks-in-Spotlight:

Bharti-Airtel-fell-5.41%-to-₹-560.9-on-the-BSE-after-the-counter-witnessed-block-deals-in-early-trade-today,-26-May-2020.-On-the-BSE,-the-counter-clocked-a-volume-of-17.21-crore-shares-as-against-its-average-trading-volume-of-6.06-lakh-shares-in-the-past-one-quarter.-The-stock-fell-5.73%-to-hit-a-low-of-₹-559-on-BSE-in-early-trade-today.-On-the-NSE,-the-counter-clocked-a-volume-of-7.04-crore-shares-compared-with-its-average-trading-volume-of-1.75-crore-shares-in-the-past-one-quarter.

ITC-on-Saturday,-23-May-2020,-entered-into-a-share-purchase-agreement-(SPA)-to-acquire-100%-stake-of-Sunrise-Foods-(SFPL),-which-is-engaged-in-the-business-of-spices-under-the-trademark-'Sunrise'.-The-transaction-is-subject-to-fulfillment-of-various-terms-and-conditions-as-specified-in-the-Share-Purchase-Agreement-(SPA).-The-proposed-acquisition-is-aligned-with-ITC's-strategy-to-rapidly-scale-up-its-FMCG-businesses-in-a-profitable-manner,-leveraging-its-institutional-strengths-viz.-deep-consumer-insight,-a-deep-and-wide-distribution-network,-agri-commodity-sourcing-expertise,-cuisine-knowledge,-strong-rural-linkages-and-packaging-know-how.-Shares-of-ITC-were-trading-3%-higher-at-₹-191.95

Maruti-Suzuki-India-(MSIL)-gained-2.8%.-The-company-has-received-intimation-from-Suzuki-Motor-Gujarat-that-they-would-re-start-production-of-vehicles-from-25-May-2020,-strictly-in-accordance-with-the-Government-regulations-and-guidelines-and-by-observing-the-company's-own-concern-for-the-highest-standards-of-safety.-SMG-manufactures-cars-on-a-contract-basis-for-MSIL.

Eicher-Motors-on-Monday-(25-May-2020)-said-that-its-board-will-consider-sub-division-of-the-equity-shares-of-face-value-of-₹-10-each-on-12-June-2020.-The-board-will-also-consider-Q4-March-2020-results-on-the-same-day.-Shares-of-Eicher-Motors-were-trading-5.71%-higher-at-₹-14713-on-BSE.

Global-Markets:

European-markets-were-trading-with-decent-gains-while-Asian-markets-closed-higher-on-Tuesday-as-investors-looked-to-a-re-opening-world-economy.

Japanese-shares-led-gains-after-the-Japanese-Prime-Minister-Shinzo-Abe-on-Monday-announced-the-lifting-of-the-state-of-emergency-for-the-entire-nation,-as-the-coronavirus-outbreak-there-eases.-As-per-reports,-Abe-has-said-that-he-would-work-to-increase-the-government's-stimulus-packages-to-more-than-200-trillion-yen-($1.9-trillion),-or-about-40%-of-Japan's-annual-output.

Investor-sentiment-received-a-boost-after-American-biotech-firm-Novavax-said-Monday-it-started-the-first-human-study-of-its-experimental-coronavirus-vaccine.-The-firm-said-it-expects-initial-results-on-safety-and-immune-responses-in-July.

In-Hong-Kong,-investors-are-moving-on-from-last-week's-sharp-losses.-On-Friday,-the-Hang-Seng-reportedly-had-its-worst-day-in-nearly-five-years-after-Beijing-moved-to-pass-a-controversial-national-security-law,-a-blow-to-the-financial-hub's-autonomy.-China's-foreign-ministry-commissioner-in-Hong-Kong,-Xie-Fang,-moved-to-reassure-rattled-investors-on-Monday-evening.-The-legislation-won't-affect-freedoms-of-speech,-press,-publication-and-assembly,-Xie-said,-according-to-state-run-news-agency-reports.-He-reportedly-added-that-the-controversial-legislation-will-protect-the-law-based-operation-of-international-businesses-in-Hong-Kong.

In-economic-news,-Singapore-cut-its-2020-economic-forecasts-for-the-third-time-this-year.-The-Singapore-economy-is-now-expected-to-shrink-by-between-4.0%-and-7.0%-this-year,-according-to-the-country's-Ministry-of-Trade-and-Industry.

In-US,-markets-were-closed-on-Monday-for-Memorial-Day.

Powered-by-Capital-Market---Live-News

The-Sensex-pared-early-gains-and-ended-with-small-losses-on-Tuesday.-Selling-in-IT-and-pharma-stocks-eclipsed-buying-in-metal,-auto-and-banks-stocks.-As-per-provisional-closing,-the-barometer-S&P-BSE-Sensex-was-down-63.29-points-or-0.21%-at-30,609.30.-The-Nifty-50-index-was-up-5.8-points-or-0.06%-at-9,045.05.

The-Nifty-opened-higher-at-9,099.75-and-hit-an-intraday-high-of-9,161.65-in-early-trade.-The-index-pared-gains-as-profit-selling-emerged-at-higher-levels.-The-Nifty-turned-negative-and-hit-an-intraday-low-of-8,996.65-in-mid-afternoon-trade.-It-regained-the-9,000-mark-in-late-trade.

The-broader-market-outperformed.-The-S&P-BSE-Mid-Cap-index-was-surged-1.24%-while-the-S&P-BSE-Small-Cap-index-rose-0.57%.

The-market-breadth-was-positive.-On-the-BSE,-1229-shares-rose-and-1121-shares-fell.-A-total-of-184-shares-were-unchanged.-In-Nifty-50-index,-31-stocks-advanced-while-19-stocks-declined.-

Buzzing-Index:

The-Nifty-Pharma-index-declined-1.17%-to-9,488.70,-snapping-its-three-days-winning-run.-The-index-gained-5.68%-in-the-past-three-trading-sessions.

Piramal-Enterprises-(down-4.91%),-Cadila-Healthcare-(down-2.28%),-Sun-Pharmaceutical-Inds-(down-2.12%),-Aurobindo-Pharma-(down-2%),-Cipla-(down-1.72%),-Divi's-Laboratories-(down-0.86%)-and-Dr.-Reddy's-Laboratories-(down-0.72%)-were-top-losers-in-Nifty-Pharma-index.

Glenmark-Pharmaceuticals-announced-a-new-randomized,-open-label-study-to-test-the-combined-efficacy-of-two-antiviral-drugs-Favipiravir-and-Umifenovir-as-a-potential-COVID-19-treatment-strategy.-Shares-of-Glenmark-Pharmaceuticals-were-trading-1.11%-lower-at-₹-347.90.

Indoco-Remedies-gained-1.5%-after-the-pharmaceutical-company-announced-receiving-approval-for-its-abbreviated-new-drug-application-(ANDA)-for-Succinylcholine-Chloride-injection-USP-200-mg/-10-ml-(20-mg/ml)-multi‐dose-vial,-therapeutically-equivalent-to-the-reference-listed-drug-(RLD)-Quelicin-Injection-of-Hospira,-Inc.-Succinylcholine-Chloride-injection-is-indicated-as-an-adjunct-to-general-anesthesia,-to-facilitate-tracheal-intubation,-and-to-provide-skeletal-muscle-relaxation-during-surgery-or-mechanical-ventilation.-The-product-is-being-used-for-some-patients-infected-with-Corona-virus-(COVID‐19).

Q4-Results-Today:

Torrent-Pharmaceuticals-(down-0.88%),-Deepak-Nitrite-(up-1.71%),-Max-Financial-Services-(up-2.15%),-Blue-Dart-(up-1.16%),-Coromandel-International-(down-0.05%),-Praj-Industries-(up-1.79%),-V.I.P-Industries-(up-0.8%)-and-Wonderla-Holidays-(down-0.67%)-are-some-of-the-companies-that-will-announce-their-quarterly-results-today.

Earnings-Impact:

HDFC-was-down-0.86%-after-the-housing-finance-major's-standalone-net-profit-declined-22%-to-₹-2232.53-on-3.41%-rise-in-total-income-to-₹-11,981.66-crore-in-Q4-March-2020-over-Q4-March-2019.-Dividend-income-slumped-to-₹-2.08-crore-in-Q4-FY20-from-₹-536.88-crore-in-Q4-FY19.-“-With-dividend-distribution-tax-being-abolished,-some-of-the-subsidiary-company-did-not-pay-interim-dividend,-the-firm-said.-Profit-on-sale-of-investment-was-₹-2-crore-in-Q4-FY20-as-against-₹-321-crore-in-Q4-FY19.-Fair-value-changes-charged-to-the-statement-of-profit-and-loss---largely-on-account-of-the-fall-in-the-stock-markets,-was-₹-428-crore-in-Q4-FY20,-higher-than-₹-167-crore-in-the-previous-year.

On-the-asset-quality-front,-the-gross-non-performing-loans-as-at-31-March-2020-stood-at-₹-8,908-crore.-This-is-equivalent-to-1.99%-of-the-loan-portfolio.-Increase-in-provisioning,-including-impact-for-COVID-19,-was-₹-1,274-crore-in-Q4-FY20,-higher-than-₹-398-crore-in-the-previous-year.

Inclusive-of-fees-and-income-from-assigned-loans,-the-Net-Interest-Income-(NII)-for-the-quarter-ended-31-March-2020-stood-at-₹-3,780-crore-compared-to-₹-3,238-crore-in-the-previous-year,-representing-a-growth-of-17%.-The-board-of-HDFC-approved-a-dividend-of-₹-21-per-share-for-the-year-ended-March-2020.

Avenue-Supermarts-tumbled-4.94%-after-the-company-warned-that-the-challenges-are-likely-to-continue-in-the-current-financial-year-as-the-economy-gradually-opens-after-the-lockdown.-

The-supermarket-chain-operator-announced-Q4-results-on-Saturday-(23-May-2020).-The-firm's-consolidated-net-profit-jumped-41.61%-to-₹-271-crore-on-23.6%-increase-in-to-₹-6,256-crore-in-Q4-March-2020-over-Q4-March-2019.-EBITDA-rose-12.1%-to-₹-417-crore-in-Q4-FY20-from-₹-372-crore-in-Q4-FY19.-EBITDA-margin-stood-at-6.7%-in-Q4-March-2020,-lower-than-7.4%-in-Q4-March-2019.

The-company-said-its-overall-revenue-during-the-month-of-March-2020-grew-by-just-11%-over-March-2019-due-to-the-lockdown-effect-of-the-last-9-days-of-March-this-year.-The-trend-rapidly-deteriorated-in-April-during-which-more-than-half-of-its-stores-remaining-closed-for-operations-or-operating-for-extremely-restricted-hours.-

IDFC-First-Bank-jumped-5.57%-after-the-bank-reported-a-net-profit-of-₹-71.54-crore-in-Q4-March-2020-as-against-net-loss-of-₹-218.03-crore-reported-in-Q4-March-2019.-Total-income-rose-13.8%-to-₹-4439.63-crore-in-Q4-March-2020-from-₹-3902.11-crore-reported-in-Q4-March-2019.-The-result-was-announced-after-market-hours-on-22-March-2020.

The-bank-posted-reported-a-strong-growth-in-core-earnings.-Net-Interest-Income-(NII)-grew-by-40%-to-₹-1,563-crore-in-Q4-March-2020-from-₹-1,113-crore-in-Q4-March-2019.-Net-interest-margin-improved-to-4.24%-in-Q4-March-2020-from-3.03%-in-Q4-March-2019.-On-asset-quality-front,-the-bank's-gross-non-performing-assets-(NPAs)-stood-at-₹-2279.56-crore-as-on-31-March-2020-as-against-₹-2511.36-crore-as-on-31-December-2019-and-₹-2136.04-crore-as-on-31-March-2019.-The-ratio-of-gross-NPAs-to-gross-advances-stood-at-2.6%-as-on-31-March-2020-as-against-2.83%-as-on-31-December-2019-and-2.43%-as-on-31-March-2019.

Bata-India-was-up-0.63%.-The-footwear-maker's-consolidated-net-profit-tumbled-56.7%-to-₹-38.41-crore-on-8.77%-decline-in-net-sales-to-₹-620.57-crore-in-Q4-March-2020-over-Q4-March-2019.-Profit-before-tax-(PBT)-fell-45%-to-₹-58.18-crore-during-the-period-under-review.-The-result-was-impacted-due-to-loss-of-revenue-resulting-from-COVID-19-outbreak-and-due-the-impact-of-adopting-Ind-AS-116.-The-footwear-maker-reported-a-good-growth-of-8%-(January-&-February-2020)-before-the-pandemic-forced-closure-of-stores-in-mid-March-resulting-in-a-decline-for-the-quarter.-Bata-said,-This-year's-growth-can-be-credited-to-company's-continuous-focus-on-strengthening-its-product-portfolio,-innovation-and-design,-new-store-openings-and-renovation,-enhancing-customer-experience-as-well-as-new-marketing-campaigns.

Aarti-Industries-slipped-1.71%-after-consolidated-net-profit-fell-11.90%-to-₹-110.35-crore-on-a-5.69%-decline-in-net-sales-to-₹-1076.15-crore-in-Q4-March-2020-over-Q4-March-2019.-Consolidated-revenue-of-specialty-chemicals-segment-was-marginally-lower,-by-0.44%,-as-it-stood-at-₹-983.54-crore-while-the-earnings-of-the-pharmaceuticals-segment-contracted-by-3.01%-to-₹-206.36-in-the-fourth-quarter-as-compared-to-the-corresponding-period-last-year.

GMM-Pfaudler-slumped-5.72%-The-firm's-net-profit-declined-13%-to-₹-11.60-crore-on-5.28%-decline-in-net-sales-to-₹-131.78-crore-in-Q4-March-2020-over-Q4-March-2019.-EBITDA-improved-14%-to-₹-22.5-crore-in-Q4-FY20-from-₹-19.8-crore-in-Q4-FY19.-EBITDA-margin-stood-at-17%-in-Q4-FY20,-higher-than-14%-in-Q4-FY19.-COVID-19-began-impacting-our-normal-business-operations-on-14th-March-2020-by-affecting-our-supply-chain-and-our-ability-to-ship-ready-equipment-to-our-customers,-our-production-eventually-shut-down-completely-on-March-23rd,-2020.-All-in-all,-additional-revenue-that-could-have-been-recognized-in-the-last-quarter-in-a-normal-business-environment-is-estimated-to-be-₹-300-million,-the-company-said-in-a-statement.

Stocks-in-Spotlight:

Bharti-Airtel-fell-5.41%-to-₹-560.9-on-the-BSE-after-the-counter-witnessed-block-deals-in-early-trade-today,-26-May-2020.-On-the-BSE,-the-counter-clocked-a-volume-of-17.21-crore-shares-as-against-its-average-trading-volume-of-6.06-lakh-shares-in-the-past-one-quarter.-The-stock-fell-5.73%-to-hit-a-low-of-₹-559-on-BSE-in-early-trade-today.-On-the-NSE,-the-counter-clocked-a-volume-of-7.04-crore-shares-compared-with-its-average-trading-volume-of-1.75-crore-shares-in-the-past-one-quarter.

ITC-on-Saturday,-23-May-2020,-entered-into-a-share-purchase-agreement-(SPA)-to-acquire-100%-stake-of-Sunrise-Foods-(SFPL),-which-is-engaged-in-the-business-of-spices-under-the-trademark-'Sunrise'.-The-transaction-is-subject-to-fulfillment-of-various-terms-and-conditions-as-specified-in-the-Share-Purchase-Agreement-(SPA).-The-proposed-acquisition-is-aligned-with-ITC's-strategy-to-rapidly-scale-up-its-FMCG-businesses-in-a-profitable-manner,-leveraging-its-institutional-strengths-viz.-deep-consumer-insight,-a-deep-and-wide-distribution-network,-agri-commodity-sourcing-expertise,-cuisine-knowledge,-strong-rural-linkages-and-packaging-know-how.-Shares-of-ITC-were-trading-3%-higher-at-₹-191.95

Maruti-Suzuki-India-(MSIL)-gained-2.8%.-The-company-has-received-intimation-from-Suzuki-Motor-Gujarat-that-they-would-re-start-production-of-vehicles-from-25-May-2020,-strictly-in-accordance-with-the-Government-regulations-and-guidelines-and-by-observing-the-company's-own-concern-for-the-highest-standards-of-safety.-SMG-manufactures-cars-on-a-contract-basis-for-MSIL.

Eicher-Motors-on-Monday-(25-May-2020)-said-that-its-board-will-consider-sub-division-of-the-equity-shares-of-face-value-of-₹-10-each-on-12-June-2020.-The-board-will-also-consider-Q4-March-2020-results-on-the-same-day.-Shares-of-Eicher-Motors-were-trading-5.71%-higher-at-₹-14713-on-BSE.

Global-Markets:

European-markets-were-trading-with-decent-gains-while-Asian-markets-closed-higher-on-Tuesday-as-investors-looked-to-a-re-opening-world-economy.

Japanese-shares-led-gains-after-the-Japanese-Prime-Minister-Shinzo-Abe-on-Monday-announced-the-lifting-of-the-state-of-emergency-for-the-entire-nation,-as-the-coronavirus-outbreak-there-eases.-As-per-reports,-Abe-has-said-that-he-would-work-to-increase-the-government's-stimulus-packages-to-more-than-200-trillion-yen-($1.9-trillion),-or-about-40%-of-Japan's-annual-output.

Investor-sentiment-received-a-boost-after-American-biotech-firm-Novavax-said-Monday-it-started-the-first-human-study-of-its-experimental-coronavirus-vaccine.-The-firm-said-it-expects-initial-results-on-safety-and-immune-responses-in-July.

In-Hong-Kong,-investors-are-moving-on-from-last-week's-sharp-losses.-On-Friday,-the-Hang-Seng-reportedly-had-its-worst-day-in-nearly-five-years-after-Beijing-moved-to-pass-a-controversial-national-security-law,-a-blow-to-the-financial-hub's-autonomy.-China's-foreign-ministry-commissioner-in-Hong-Kong,-Xie-Fang,-moved-to-reassure-rattled-investors-on-Monday-evening.-The-legislation-won't-affect-freedoms-of-speech,-press,-publication-and-assembly,-Xie-said,-according-to-state-run-news-agency-reports.-He-reportedly-added-that-the-controversial-legislation-will-protect-the-law-based-operation-of-international-businesses-in-Hong-Kong.

In-economic-news,-Singapore-cut-its-2020-economic-forecasts-for-the-third-time-this-year.-The-Singapore-economy-is-now-expected-to-shrink-by-between-4.0%-and-7.0%-this-year,-according-to-the-country's-Ministry-of-Trade-and-Industry.

In-US,-markets-were-closed-on-Monday-for-Memorial-Day.

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