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Shares end with decent gains ahead of AGR hearing
(15:38, 10 Aug 2020)

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Key-domestic-equity-benchmarks-ended-with-decent-gains-after-a-volatile-session-on-Monday.-The-key-indices-sharply-came-off-the-day's-high-as-profit-booking-emerged-at-higher-levels.-Global-stock-markets-were-upbeat-after-US-President-Donald-Trump-signed-executive-actions-extending-financial-relief-to-Americans-hit-by-the-coronavirus-pandemic.-Meanwhile,-the-hearing-the-adjusted-gross-revenue-(AGR)-case-is-currently-underway-in-the-Supreme-Court.

As-per-provisional-closing-data,-the-barometer-index,-the-S&P-BSE-Sensex,-was-rose-141.51-points-or-0.37%-at-38,182.08.-The-Nifty-50-index-added-61.75-points-or-0.55%-at-11,275.80.

In-the-broader-market,-the-S&P-BSE-Mid-Cap-index-gained-1.42%-while-the-S&P-BSE-Small-Cap-index-rose-1.47%.-

Buyers-outnumbered-sellers.-On-the-BSE,-1763-shares-rose-and-996-shares-fell.-A-total-of-172-shares-were-unchanged.

Foreign-portfolio-investors-(FPIs)-bought-shares-worth-₹-397.32-crore,-while-domestic-institutional-investors-(DIIs),-were-net-sellers-to-the-tune-of-₹-438.62-crore-in-the-Indian-equity-market-on-7-August,-provisional-data-showed

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-19,862,599-with-731,349-deaths.-India-reported-6,34,945-active-cases-of-COVID-19-infection-and-44,386-deaths-while-15,35,743-patients-have-been-discharged,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Economy:

Prime-Minister-Narendra-Modi-on-Sunday-launched-a-₹-1-lakh-crore-Agriculture-Infrastructure-Fund-to-support-community-farming-assets-across-the-country-and-said-this-would-enhance-India's-ability-to-compete-globally-in-the-agriculture-sector.-The-farm-infrastructure-will-enable-farmers-get-higher-value-for-their-produce-as-they-will-be-able-to-store-and-sell-at-better-prices-as-per-market-conditions,-reduce-wastage-and-increase-processing-and-value-addition.-PM-also-released-₹-17,000-crore-to-nearly-8.5-crore-farmers-under-the-sixth-installment-of-the-PM-Kisan-scheme.

AGR-Case-Hearing:

The-Supreme-Court-(SC)-has-begun-hearing-the-adjusted-gross-revenue-(AGR)-case-at-15:00-IST-today,-10-August.-The-apex-court-on-20-July-reserved-its-order-on-permitting-telecom-companies-to-make-staggered-payments-over-15-years.-Both-Vodafone-Idea-(up-2.49%)-and-Bharti-Airtel-(down-0.12%)-requested-for-a-15-year-window-to-clear-the-dues,-while-Tata-Teleservices-(up-5.80%)-has-sought-7-10-years.

The-Supreme-Court-is-reportedly-also-examining-whether-the-insolvency-proceedings-of-bankrupt-telcos-Reliance-Communications-(RCom),-Aircel-and-Videocon-Telecom-are-bonafide.-At-the-previous-hearing,-it-had-directed-the-Department-of-Telecommunications-(DoT)-to-submit-details-of-the-insolvency-proceedings-of-the-bankrupt-telcos-before-today's-hearing.

Buzzing-Segment-:-

-Shares-of-eight-defence-companies-rose-by-3%-to-10%-after-defence-minister-Rajnath-Singh-on-Sunday-announced-import-ban-on-101-defence-items.-Dynamatic-Technologies-(up-10%),-Hindustan-Aeronautics-(up-9.51%),-Bharat-Electronics-(up-9.02%),-Astra-Microwave-Products-(up-5.02%),-Bharat-Dynamics-(up-4.65%),-Bharat-Forge-(up-3.81%),-Premier-Explosives-(up-4.04%)-and-BEML-(up-3.74%)-were-top-gainers-in-defence-segment.

The-defence-ministry-has-decided-to-put-101-items-put-on-embargo-to-boost-indigenisation-of-defence-production.-The-embargo-on-imports-is-planned-to-be-progressively-implemented-between-2020-and-2024.-The-deadline-has-been-set-for-December-2025.-The-list-of-101-embargoed-items-comprises-some-high-technology-weapon-systems-like-artillery-guns,-assault-rifles,-corvettes,-sonar-systems,-transport-aircraft,-light-combat-helicopters-(LCHs),-radars-and-many-other-items.-

Earnings-Today:-

-Among-the-Nifty-stocks,-Power-Grid-Corporation-of-India-(up-0.65%),-Shree-Cement-(up-2.28%)-and-Titan-Company-(up-1.63%)-will-announce-their-quarterly-earnings-today.-

Among-the-other-stocks,-Akzo-Nobel-(down-0.53%),-Bank-of-Baroda-(up-0.10%),- HEG-(up-0.71%),-KEC-International-(down-0.49%),-Meghmani-Organics-(down-6.13%)-and-V-Mart-Retail-(up-0.77%)-will-announce-their-quarterly-earnings-today.

Earnings-Impact:

Cipla-jumped-9.13%-to-₹-795.15-after-the-company's-net-profit-rose-21%-to-₹-578-crore-on-9%-increase-in-total-revenue-from-operations-to-₹-4,346-crore-in-Q1-FY21-over-Q1-FY20.-

EBITDA-margin-stood-at-24.1%-as-30-June-2020-as-against-22.7%-as-30-June-2019.-Cipla-said-that-it-has-achieved-zero-net-debt-position-led-by-strong-collections-and-improved-EBITDA.

India-business-grew-by-16%-YoY-with-strong-growth-across-the-three-businesses.-Overall-South-African-business-continued-the-strong-growth-momentum-to-deliver-growth-of-17%-on-a-YoY-basis-in-local-currency;-private-business-continues-to-outpace-the-market.-The-US-business-reported-$135-million-led-by-Albuterol-ramp-up;-14%-QoQ-growth.

Divi's-Laboratories-surged-11.89%-to-₹-3115.40-after-the-company's-consolidated-net-profit-jumped-81%-to-₹-492-crore-on-a-47%-increase-in-total-income-to-₹-1748-crore-in-Q1-FY21-over-Q1-FY20.-The-company-has-been-able-to-have-near-normal-operations-during-the-quarter-and-there-was-minimal-impact-due-to-COVID-19-pandemic.

The-company-further-said-that-while-a-significant-part-of-the-ongoing-capex-programs-has-been-completed-during-the-last-financial-year,-due-to-the-COVID-19-pandemic,-there-has-been-delay-in-implementing-the-balance-part-of-the-capex-programs-taken-up-by-the-company-due-to-non-availability-of-workmen-of-some-contractors-implementing-the-projects.-It-expects-to-complete-the-capex-programs-by-second-half-of-the-financial-year.

REC-gained-2.22%-to-₹-108.10-after-the-consolidated-net-profit-rose-22.29%-to-₹-1,845.30-crore-on-20.44%-rise-in-total-income-to-₹-8,450.36-crore-in-Q1-June-2020-over-Q1-June-2019.

Meanwhile,-the-board-of-directors-of-REC-approved-the-proposal-of-raising-of-funds-through-issue-of-unsecured/secured-non-convertible-bonds/debentures-through-Private-Placement,-upto-an-amount-of-₹-85,000-crore,-in-one-or-more-tranches,-subject-to-approval-of-shareholders-in-this-regard-in-the-ensuing-Annual-General-Meeting.

Birla-Corporation-tumbled-7.51%-to-₹-604-after-consolidated-net-profit-tanked-53.2%-to-₹-65.77-crore-on-35.1%-decline-in-net-sales-to-₹-1,221.97-crore-in-Q1-June-2020-over-Q1-June-2019.

Revenue-for-the-quarter-declined-as-sales-by-volume-dropped-33.9%-to-2.4-million-tons-(mt).-EBITDA-slumped-37%-to-₹-252-crore-in-June-2020-as-against-₹-402-crore-in-June-2019-amid-severe-disruptions-in-key-markets-and-manufacturing-centres-due-to-the-Covid-19-pandemic.

With-the-arrival-of-monsoons,-cement-prices-have-started-to-weaken-in-key-markets-from-the-end-of-June.-Timely-arrival-of-monsoons,-however,-augurs-well-for-recovery-of-India's-economy.-While-demand-during-rest-of-the-year-will-be-a-function-of-how-the-lockdowns-in-various-regions-of-the-country-pan-out-from-time-to-time,-expectations-of-gradual-easing-of-lockdown-in-urban-areas-and-resurgence-in-infrastructure-activities-with-migrant-workers-returning-to-construction-sites-are-indicative-that-the-worst-may-be-over-for-the-industry.-The-company-remains-cautiously-optimistic-about-a-gradual-return-to-normalcy-over-the-next-few-months,-the-company-said-in-a-statement.

Affle-India-hit-an-upper-circuit-of-10%-at-₹-2025.95-after-the-company's-consolidated-net-profit-jumped-42.3%-to-₹-18.77-crore-on-20%-increase-in-net-sales-to-₹-89.77-crore-in-Q1-June-2020-over-Q1-June-2019.-EBITDA-margin-remained-unchanged-at-25%-in-Q1-June-2020.

The-firm-said-that-the-growth-has-been-broad-based-coming-from-both-cost-per-converted-user-(CPCU)-business-and-non-CPCU-business.-The-CPCU-business-continued-its-positive-momentum-delivering-a-total-of-1.7-crore-of-converted-users-in-Q1-FY21.

IPCA-Laboratories-surged-6.97%-to-₹-2091.95.-The-company's-net-profit-surged-to-₹-445.68-crore-in-Q1-June-2020-from-₹-129.43-crore-in-Q1-June-2019.-Net-total-income-increased-by-41%-YoY-to-₹-1,546.49-crore-during-the-quarter.

Global-Markets:

Most-markets-in-Europe-and-Asia-edged-higher-on-Monday.-Investors-shrugged-off-concerns-over-rising-tensions-between-the-United-States-and-China.-Japanese-and-Singaporean-markets-are-closed-for-public-holidays.

Investors-continued-to-monitor-the-US-fiscal-stimulus-after-talks-between-the-White-House-and-Democrat-lawmakers-broke-down.

In-US,-the-S&P-500-retreated-from-a-near-six-month-high-in-choppy-trading-on-Friday-with-data-showing-a-sharp-slowdown-in-US-employment-growth,-while-US-China-tensions-escalated-with-President-Donald-Trump's-move-to-ban-WeChat-and-TikTok.

US-President-Donald-Trump-signed-two-executive-orders-banning-WeChat,-owned-by-Chinese-tech-giant-Tencent,-and-TikTok-in-45-days'-time-while-announcing-sanctions-on-11-Chinese-and-Hong-Kong-officials.

Trump-signed-a-series-of-executive-orders-to-extend-unemployment-benefits-after-talks-with-Congress-broke-down.-The-orders-would-provide-an-extra-$400-per-week-in-unemployment-payments,-less-than-the-$600-per-week-passed-earlier-in-the-crisis.

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Key-domestic-equity-benchmarks-ended-with-decent-gains-after-a-volatile-session-on-Monday.-The-key-indices-sharply-came-off-the-day's-high-as-profit-booking-emerged-at-higher-levels.-Global-stock-markets-were-upbeat-after-US-President-Donald-Trump-signed-executive-actions-extending-financial-relief-to-Americans-hit-by-the-coronavirus-pandemic.-Meanwhile,-the-hearing-the-adjusted-gross-revenue-(AGR)-case-is-currently-underway-in-the-Supreme-Court.

As-per-provisional-closing-data,-the-barometer-index,-the-S&P-BSE-Sensex,-was-rose-141.51-points-or-0.37%-at-38,182.08.-The-Nifty-50-index-added-61.75-points-or-0.55%-at-11,275.80.

In-the-broader-market,-the-S&P-BSE-Mid-Cap-index-gained-1.42%-while-the-S&P-BSE-Small-Cap-index-rose-1.47%.-

Buyers-outnumbered-sellers.-On-the-BSE,-1763-shares-rose-and-996-shares-fell.-A-total-of-172-shares-were-unchanged.

Foreign-portfolio-investors-(FPIs)-bought-shares-worth-₹-397.32-crore,-while-domestic-institutional-investors-(DIIs),-were-net-sellers-to-the-tune-of-₹-438.62-crore-in-the-Indian-equity-market-on-7-August,-provisional-data-showed

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-19,862,599-with-731,349-deaths.-India-reported-6,34,945-active-cases-of-COVID-19-infection-and-44,386-deaths-while-15,35,743-patients-have-been-discharged,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

Economy:

Prime-Minister-Narendra-Modi-on-Sunday-launched-a-₹-1-lakh-crore-Agriculture-Infrastructure-Fund-to-support-community-farming-assets-across-the-country-and-said-this-would-enhance-India's-ability-to-compete-globally-in-the-agriculture-sector.-The-farm-infrastructure-will-enable-farmers-get-higher-value-for-their-produce-as-they-will-be-able-to-store-and-sell-at-better-prices-as-per-market-conditions,-reduce-wastage-and-increase-processing-and-value-addition.-PM-also-released-₹-17,000-crore-to-nearly-8.5-crore-farmers-under-the-sixth-installment-of-the-PM-Kisan-scheme.

AGR-Case-Hearing:

The-Supreme-Court-(SC)-has-begun-hearing-the-adjusted-gross-revenue-(AGR)-case-at-15:00-IST-today,-10-August.-The-apex-court-on-20-July-reserved-its-order-on-permitting-telecom-companies-to-make-staggered-payments-over-15-years.-Both-Vodafone-Idea-(up-2.49%)-and-Bharti-Airtel-(down-0.12%)-requested-for-a-15-year-window-to-clear-the-dues,-while-Tata-Teleservices-(up-5.80%)-has-sought-7-10-years.

The-Supreme-Court-is-reportedly-also-examining-whether-the-insolvency-proceedings-of-bankrupt-telcos-Reliance-Communications-(RCom),-Aircel-and-Videocon-Telecom-are-bonafide.-At-the-previous-hearing,-it-had-directed-the-Department-of-Telecommunications-(DoT)-to-submit-details-of-the-insolvency-proceedings-of-the-bankrupt-telcos-before-today's-hearing.

Buzzing-Segment-:-

-Shares-of-eight-defence-companies-rose-by-3%-to-10%-after-defence-minister-Rajnath-Singh-on-Sunday-announced-import-ban-on-101-defence-items.-Dynamatic-Technologies-(up-10%),-Hindustan-Aeronautics-(up-9.51%),-Bharat-Electronics-(up-9.02%),-Astra-Microwave-Products-(up-5.02%),-Bharat-Dynamics-(up-4.65%),-Bharat-Forge-(up-3.81%),-Premier-Explosives-(up-4.04%)-and-BEML-(up-3.74%)-were-top-gainers-in-defence-segment.

The-defence-ministry-has-decided-to-put-101-items-put-on-embargo-to-boost-indigenisation-of-defence-production.-The-embargo-on-imports-is-planned-to-be-progressively-implemented-between-2020-and-2024.-The-deadline-has-been-set-for-December-2025.-The-list-of-101-embargoed-items-comprises-some-high-technology-weapon-systems-like-artillery-guns,-assault-rifles,-corvettes,-sonar-systems,-transport-aircraft,-light-combat-helicopters-(LCHs),-radars-and-many-other-items.-

Earnings-Today:-

-Among-the-Nifty-stocks,-Power-Grid-Corporation-of-India-(up-0.65%),-Shree-Cement-(up-2.28%)-and-Titan-Company-(up-1.63%)-will-announce-their-quarterly-earnings-today.-

Among-the-other-stocks,-Akzo-Nobel-(down-0.53%),-Bank-of-Baroda-(up-0.10%),- HEG-(up-0.71%),-KEC-International-(down-0.49%),-Meghmani-Organics-(down-6.13%)-and-V-Mart-Retail-(up-0.77%)-will-announce-their-quarterly-earnings-today.

Earnings-Impact:

Cipla-jumped-9.13%-to-₹-795.15-after-the-company's-net-profit-rose-21%-to-₹-578-crore-on-9%-increase-in-total-revenue-from-operations-to-₹-4,346-crore-in-Q1-FY21-over-Q1-FY20.-

EBITDA-margin-stood-at-24.1%-as-30-June-2020-as-against-22.7%-as-30-June-2019.-Cipla-said-that-it-has-achieved-zero-net-debt-position-led-by-strong-collections-and-improved-EBITDA.

India-business-grew-by-16%-YoY-with-strong-growth-across-the-three-businesses.-Overall-South-African-business-continued-the-strong-growth-momentum-to-deliver-growth-of-17%-on-a-YoY-basis-in-local-currency;-private-business-continues-to-outpace-the-market.-The-US-business-reported-$135-million-led-by-Albuterol-ramp-up;-14%-QoQ-growth.

Divi's-Laboratories-surged-11.89%-to-₹-3115.40-after-the-company's-consolidated-net-profit-jumped-81%-to-₹-492-crore-on-a-47%-increase-in-total-income-to-₹-1748-crore-in-Q1-FY21-over-Q1-FY20.-The-company-has-been-able-to-have-near-normal-operations-during-the-quarter-and-there-was-minimal-impact-due-to-COVID-19-pandemic.

The-company-further-said-that-while-a-significant-part-of-the-ongoing-capex-programs-has-been-completed-during-the-last-financial-year,-due-to-the-COVID-19-pandemic,-there-has-been-delay-in-implementing-the-balance-part-of-the-capex-programs-taken-up-by-the-company-due-to-non-availability-of-workmen-of-some-contractors-implementing-the-projects.-It-expects-to-complete-the-capex-programs-by-second-half-of-the-financial-year.

REC-gained-2.22%-to-₹-108.10-after-the-consolidated-net-profit-rose-22.29%-to-₹-1,845.30-crore-on-20.44%-rise-in-total-income-to-₹-8,450.36-crore-in-Q1-June-2020-over-Q1-June-2019.

Meanwhile,-the-board-of-directors-of-REC-approved-the-proposal-of-raising-of-funds-through-issue-of-unsecured/secured-non-convertible-bonds/debentures-through-Private-Placement,-upto-an-amount-of-₹-85,000-crore,-in-one-or-more-tranches,-subject-to-approval-of-shareholders-in-this-regard-in-the-ensuing-Annual-General-Meeting.

Birla-Corporation-tumbled-7.51%-to-₹-604-after-consolidated-net-profit-tanked-53.2%-to-₹-65.77-crore-on-35.1%-decline-in-net-sales-to-₹-1,221.97-crore-in-Q1-June-2020-over-Q1-June-2019.

Revenue-for-the-quarter-declined-as-sales-by-volume-dropped-33.9%-to-2.4-million-tons-(mt).-EBITDA-slumped-37%-to-₹-252-crore-in-June-2020-as-against-₹-402-crore-in-June-2019-amid-severe-disruptions-in-key-markets-and-manufacturing-centres-due-to-the-Covid-19-pandemic.

With-the-arrival-of-monsoons,-cement-prices-have-started-to-weaken-in-key-markets-from-the-end-of-June.-Timely-arrival-of-monsoons,-however,-augurs-well-for-recovery-of-India's-economy.-While-demand-during-rest-of-the-year-will-be-a-function-of-how-the-lockdowns-in-various-regions-of-the-country-pan-out-from-time-to-time,-expectations-of-gradual-easing-of-lockdown-in-urban-areas-and-resurgence-in-infrastructure-activities-with-migrant-workers-returning-to-construction-sites-are-indicative-that-the-worst-may-be-over-for-the-industry.-The-company-remains-cautiously-optimistic-about-a-gradual-return-to-normalcy-over-the-next-few-months,-the-company-said-in-a-statement.

Affle-India-hit-an-upper-circuit-of-10%-at-₹-2025.95-after-the-company's-consolidated-net-profit-jumped-42.3%-to-₹-18.77-crore-on-20%-increase-in-net-sales-to-₹-89.77-crore-in-Q1-June-2020-over-Q1-June-2019.-EBITDA-margin-remained-unchanged-at-25%-in-Q1-June-2020.

The-firm-said-that-the-growth-has-been-broad-based-coming-from-both-cost-per-converted-user-(CPCU)-business-and-non-CPCU-business.-The-CPCU-business-continued-its-positive-momentum-delivering-a-total-of-1.7-crore-of-converted-users-in-Q1-FY21.

IPCA-Laboratories-surged-6.97%-to-₹-2091.95.-The-company's-net-profit-surged-to-₹-445.68-crore-in-Q1-June-2020-from-₹-129.43-crore-in-Q1-June-2019.-Net-total-income-increased-by-41%-YoY-to-₹-1,546.49-crore-during-the-quarter.

Global-Markets:

Most-markets-in-Europe-and-Asia-edged-higher-on-Monday.-Investors-shrugged-off-concerns-over-rising-tensions-between-the-United-States-and-China.-Japanese-and-Singaporean-markets-are-closed-for-public-holidays.

Investors-continued-to-monitor-the-US-fiscal-stimulus-after-talks-between-the-White-House-and-Democrat-lawmakers-broke-down.

In-US,-the-S&P-500-retreated-from-a-near-six-month-high-in-choppy-trading-on-Friday-with-data-showing-a-sharp-slowdown-in-US-employment-growth,-while-US-China-tensions-escalated-with-President-Donald-Trump's-move-to-ban-WeChat-and-TikTok.

US-President-Donald-Trump-signed-two-executive-orders-banning-WeChat,-owned-by-Chinese-tech-giant-Tencent,-and-TikTok-in-45-days'-time-while-announcing-sanctions-on-11-Chinese-and-Hong-Kong-officials.

Trump-signed-a-series-of-executive-orders-to-extend-unemployment-benefits-after-talks-with-Congress-broke-down.-The-orders-would-provide-an-extra-$400-per-week-in-unemployment-payments,-less-than-the-$600-per-week-passed-earlier-in-the-crisis.

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