Equity benchmark Sensex soared over 1265.66 points or 4.23% to close at 31,159.62 on Thursday, April 9, 2020. The rise was supported by gains in financial, IT and FMCG stocks following a rise in global equities on hopes of the COVID-19 pandemic approaching its peak. Similarly, the NSE Nifty was quoting 363.15 points or 4.15% up at 9,111.90. But certain stocks came in news after the market was closed and can impact the indices when it reopens on Monday, April 13, 2020. List of such five stocks:
HDFC Ltd: China’s central bank, People’s Bank of China (PBoC) has raised its stake in Housing Development Finance Corp. Ltd to 1.011% from 0.8%. PBoC has purchased 1.75 crore shares of the mortgage lender.
Godrej Consumer Products Q4 Update: Consumer goods major Godrej Consumer Product (GCPL) said in their latest quarterly updates said that they would see a sharp revenue decline in the January-March period due to the COVID-19 pandemic and subsequent national lockdown. It said, it may report a low double-digit (in range of 10-11%) sales decline in the quarter, while its international business may decline by 5%. However, they expect that there should be a gradual bounce back in the near term backed by higher consumption of Personal Wash and Household Insecticides.
IT stocks in focus: Cognizant withdraws revenue guidance for 2020 due to uncertainties caused by COVID-19 pandemic. With this, it turns up to be the second IT services firm to withdraw full-year guidance after Accenture. It said, during the latter part of March 2020, its business was affected in late March mainly due to project delays in India and the Philippines and reduced client demand primarily in the travel and hospitality industries.
Cadila Healthcare + Dr Reddy’s: Drug firm: Zydus Cadila on Friday said it has received tentative nod from the United States Food and Drug Administration (USFDA) to market generic Empagliflozin tablets, in the strengths of 10 mg and 25 mg, used for the improvement of blood sugar control in adults with type 2 diabetes in the American market. Besides, Dr Reddy’s Laboratories’ active pharmaceutical ingredient (API) manufacturing plant-5 in Miryalaguda of Nalgonda District in Telangana has received an Establishment Inspection Report (EIR) from the USFDA indicating closure of the audit and the inspection classification of this facility is determined as voluntary action indicated (VAI).
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SRF Limited: Few plants belonging to the essential goods value chain in the Dahej Chemicals Complex have resumed operations, in-line with permissions from local authorities.