Jindal Steel & Power Limited (JSPL) has reported its highest-ever exports of steel & related products during April 2020. It exported 2,48,000 MT of steel & related products, which is a growth of 109 per cent (MoM). Export contributes to 74 per cent of its total sales volume.

This step has been taken due to commercial and business viability considerations. The company has surrendered its 15 terminals, generating a total turnover of Rs 277.50 crore and net worth of Rs 64.84 crore.

An immediate support for Nifty is placed around 9,240-9,250 level followed by 20-DMA, which is placed at 9,050. On the upside, an immediate resistance for Nifty is placed at 9,400 mark. Stocks in news: Lupin, ICICI Bank, Colgate-Palmolive, Nath Bio-Genes (India), Container Corporation of India.

After a landslide fall in the previous trading session, the market is all set for a rebound on Tuesday, largely led by firm global cues. However, we believe that at higher levels, profit booking could emerge as ICRA has projected 20 per cent GDP contraction in June quarter and two per cent contraction in FY21 overall.

Recently, the news about Facebook’s investment in Reliance Jio was well-received by the general public. Following it, Reliance Industries has now announced about rights issue as well of Silver Lake’s investment in Jio.

Mahindra & Mahindra Financial Services Limited has been picked up by our Bollinger Band Squeeze scanner, which suggests that the stock is near a consolidation breakout.

On Monday, Bharat Heavy Electricals Limited (BHEL) stated that it had floated an expression of interest, inviting companies from around the world to partner with the public sector power equipment major as well as to set up their manufacturing facilities in the country, in-line with Prime Minister Narendra Modi’s Make in India initiative.  

The shares of Alembic Pharmaceuticals were trading in green on Monday, defying the market mood after US drug regulator classified the company's Panelav facility as voluntary action indicated (VAI).

Last week, Sensex wrapped-up the month of April 2020 on a positive note as the index gained by 19.29 per cent during the month. Post this hype up, on Monday, the domestic benchmark indices witnessed a chaotic session as Sensex sunk by 5.94 per cent, which is 2,002.27 points to reach the level of 31,715.35 while, Nifty dipped by 5.74 per cent which is 566.40 points to 9,293.50 level.

Aurobindo Pharma Limited announced that it has received a final approval from US Food & Drug Administration (USFDA) to manufacture and market Flucytosine capsules, 250 mg and 500 mg.