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News, I read on 20th May

1.As of end-April 2020, worldwide cases of corona virus exceed three million cases and nearly 200 thousand deaths. 
To contain the spread of the virus, countries around the world have been implementing social distancing practices including lockdowns on all non-essential businesses. As a result of these measures and the fear about the disease, global economic activity has come to a halt.
The report indicated possible bankruptcies, industry consolidation, failure of industries to recover and high levels of unemployment
Source: https://in.reuters.com/article/us-health-coronavirus-wef-report/long-lasting-global-recession-likely-due-to-covid-19-says-world-economic-forum-report-idINKBN22V0GR


2.The Stimulus package by government not well received by market due to lack of direct cash benefits and near time benefits, with actual amount spent by government only about 1% GDP as opposed to claims of 10%
Source: https://www.hindustantimes.com/business-news/fiscal-impact-of-stimulus-about-1-of-gdp-fitch/story-puqo5ZB1wGoacDUbD0bctM.html


3.Coronavirus Statistics of India - India has witnessed its biggest daily spike with 4973 new cases in 24 hours and crossed the 1 lakh mark.
With increasing cases, Indian Government has extended the lockdown third time in a row with easing some activities.India has seen the world's most strict lockdown during this epidemic.
Source:https://www.bloombergquint.com/coronavirus-outbreak/coronavirus-india-updates-total-cases-top-1-lakh-death-toll-at-3163


4.Labour ministry in their latest statement said that "The employee can contribute more than 10% of basic pay as their PF contribution but Employer can restrict his contribution to 10% in respect of such employees. "
Ministry of Labour & Employment has implemented it for three months till July. It may not help companies to cover the losses that they face during a pandemic but surely will give them some room to breath.
Source:https://indianexpress.com/article/business/employees-pf-contribution-can-go-higher-than-10-not-of-employers-labourmin-6418241/

5.Everyones prominent industry in the Stock Market i.e. The Steel Sector will not be having demand for the year 2020-2021 . Most of the Steel Sector are in Red Zone where no business activity can be perform.

Steel demand saw a contraction of 22 per cent in March and a steep 91 per cent in April as per the govt report.

The rebooting of the steel industry from hibernation is going to be a tough task.
Source:https://www.businesstoday.in/sectors/infra/steel-demand-to-see-sharpest-decline-ever-of-over-20-in-fy21-icra/story/404346.html


6.SEBI has been approached by many companies which are demanding “either to postpone their financial results for the June quarter or merge them with the September numbers”, this comes into place because companies are performing poor on balance sheets and if their results comes, the stock can see the rock bottom level.
Other demands being - to relax the rules on pricing of preferential equity offer and open offer. Now whether or not these requests will be finally allowed by the regulator is yet to see the light of the day.
Source:https://economictimes.indiatimes.com/markets/stocks/news/cos-seek-sebi-approval-to-defer-or-merge-q1-results/articleshow/75836407.cms


7.Cipla shares gain over 3% as of today on May 20th. Cipla also announced its submission of an Abbreviated New Drug Application (ANDA) for Fluticasone propionate and Salmeterol inhalation powder to the United States Food and Drug Administration (USFDA).

Board Meetings Today for : Bajaj Auto, Dr Reddy's Labs, Jubilant Foodworks,
Ultratech Cement, JSW Energy
Bajaj Auto is set to announce its fourth-quarter results today.
Q4 preview: Over 10% revenue dip seen on volume de-growth

According to analysts, Bajaj Auto's revenues may see a decline of over 10 per cent on a year-on-year (YoY) basis. Bajaj Auto clocked a net profit of Rs 1,067.6 crore and revenue of Rs 7,420.5 crore in Q4FY19.

Tata Power reported net profit of Rs 475 crore, in comparison to Rs 172 crore posted in the same period last year. So thats a 177 per cent hike in its net profit for the March-ended quarter on the back of proceeds accrued from the sale of Cennergi investment and reversal of MAT Credit due to transition to new tax regime in the renewables business.

Piramal Enterprises is in talks to sell $300 million (₹2,200 crore) of loans advanced to three renewable energy companies to Brookfield Asset Management,

Brokerage firm Share khan by BNP Paribas expects Ultratech Cement's volume to decline 2.7 percent year-on-year (YOY) affected by COVID-19 led disruption while realisations are expected to rise by 3.5 percent YoY.

IndiGo, SpiceJet, other airlines resume online bookings for domestic flights for June


8.Mark Zuckerberg said on Tuesday the World's Largest social network going to be the shopping hub for all your need. Facebook Shop will be accessible via both Instagram and Facebook a chat option will allow costumers to chat with businesses through WhatsApp, Messenger, or Instagram Direct.


9.SGX Nifty trading 25 points higher at 08:30 am India time.

US market closed lower but US markets futures trading higher.
Europe market closed lower.
Asia Pacific markets trading mildly higher. Nikkei +0.7% HANG Seng 0.04%.
Source:https://www.bloomberg.com/markets/stocks

10. Yesterday, Nifty closed 55.85 points higher at 8879.
VIX came 4% lower and closed at 39.45. The usual safe range for VIX is between 12 to 20.
Many different companies result to be announced today.