Sensex Closes At Record High; Nifty Ends Below 11,950

Indian equity benchmark—S&P BSE Sensex—closed at record high.

The 31-share Index rose 0.4 percent to end at an all-time high at 40,301.96, surpassing the previous record closing high of 40,267.62. The NSE Nifty 50 rose 0.43 percent to end at 11,941.30. Both the benchmark indices extended gains for the seventh consecutive trading session, their longest stretch of gains in over seven months.

The broader markets represented by the NSE Nifty 500 index rose 0.29 percent.

The market breadth was tilted in favour of buyers. About 1,047 stocks advanced and 741 shares declined on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Metal Index’s 2.84 percent gain. On the flipside, the NSE Nifty Media Index was the top sectoral loser, down 3.34 percent.

Shares of Jindal Steel & Power rose as much as 14.6 percent, the most since January 2018, to Rs 141.30

“The company bids highest for Gare Palma IV/1 coal Mines at Rs 230 per tonne,” CNBC-TV18 reported quoting unnamed sources.

Trading volume was more than three times its 20-day average, Bloomberg data showed.

About 1.49 crore shares of Welspun Corp changed hands in three large trades, Bloomberg data showed. Buyers and sellers were not known immediately.

Can Fin Homes (Q2, YoY)

• Stock rose as much as 6.8 percent to Rs 433.
• Net interest income up 19.2 percent to Rs 155.5 crore.
• Net profit up 19.8 percent to Rs 97.6 crore.

HT Media (Q2, YoY)

• Stock fell as much as 7.8 percent to Rs 17.65.
• Revenue up 0.6 percent to Rs 520.5 crore.
• Net loss at Rs 24.5 crore versus net loss of Rs 47.7 crore.
• Ebitda at Rs 21.6 crore versus Ebidta Loss of Rs 19.5 crore.
• Exceptional loss of Rs 24 crore in the base quarter.

Relaxo Footwears

• Stock rose as much as 15.5 percent to hit an all-time high at Rs 629.
• Revenue up 14 percent to Rs 621.77 crore.
• Net Profit up 79 percent to Rs 70.54 crore.
• Ebitda up 42 percent to Rs 104.71 crore.
• Margin at 16.84 percent versus 13.54 percent.
• Tax expense at Rs 3.76 crore Rs 23.55 crore.

Indiabulls Real Estate

• Stock hit an upper circuit of 5 percent at Rs 60.80.
• Company’s wholly owned subsidiary has divested it entire stake in Century Limited to Clivedale Overseas Limited, an entity owned by the Promoters of the Company. With this Century Limited ceases to be a subsidiary of the Company. A consideration of 200 million pounds would be received in tranches.

JSW Energy

• Stock rose as much as 9.3 percent to Rs 76.85.
• Brokerage and research firm Kotak Securities updated the stock rating to ‘Add’ from ‘Reduce’ with a price target of Rs 80.
• Potential value accretive acquisition and declining fuel costs will aid the company, Kotak Securities said.

CESC

• Stock rose as much as 4.3 percent to Rs 834.65.
• Fresh long seen with high OI of 15 percent.
• Trading volume was two times its 20-day average.

Indian equity benchmark—S&P BSE Sensex—is set for a record close.

The 31-share index rose 0.44 percent to 40,343 and the NSE Nifty 50 rose 0.5 percent to 11,950. The broader markets represented by the NSE Nifty 500 Index rose 0.39 percent.

Zee Entertainment says:

• Promoters have been in constant dialogue with various prospective investors/ lenders without any involvement of the company.
• Promoters have denied shares transfer to Escrow.

Source: Exchange filing

Shares of Cadila Healthcare fell as much as 8.6 percent, the most in over a year, to Rs 233.50.

The pharmaceutical company received a warning letter from the U.S. drug regulator for Mroaya facility, according to its stock exchange filing.

“The company is confident of responding to the U.S. FDA within time. The warning letter does not hurt the company’s existing U.S. business,” Cadila Healthcare said.

The Indian rupee traded near day’s low against the U.S. dollar. The home currency appreciated 0.17 percent to 70.69 against the greenback. The local legal tender had appreciated as much as 0.36 percent in the opening trade.

Burger King India Ltd. plans to shares up to Rs 400 crore worth of new shares in initial public offering, according to Bloomberg report.

Shares of HDFC rose 0.86 percent to Rs 2,147 after the company announced its quarterly results.

Key Earnings Highlights (Q2, YoY)

• Net interest income up 12 percent to Rs 2,950 crore.
• Net profit up 60.5 percent to Rs 3,961 crore.
• Dividend income Rs 1,074 crore versus Rs 5.77 crore.

Indian equity markets put up their worst show in six quarters in the three months through September amid a slowing domestic economy and global worries stemming from the U.S.-China tariff war.

Here’s what veteran investors Rakesh Jhunjhunwala, Dolly Khanna and Ashish Kacholia bought and sold in the quarter ended September:

Shares of the Chennai-based automotive parts firm rose 2.1 percent intraday to Rs 6,089.40 each.

The company announced its September quarter earnings today. Net profit for the firm slumped 64.5 percent year-on-year to Rs 33.86 crore.

Other Highlights:

• Revenue declined 40 percent to Rs 446 crore.
• Net profit down 64.5 percent to Rs 33.9 crore.
• Ebitda down 57.2 percent to Rs 52.7 crore.
• Margins at 11.8 percent versus 16.6 percent.

The stock declined 7.7 percent in the past one year compared with a 15 percent gain in Nifty Index.

Shares of Indostar Capital Finance rose as much as 17.5 percent, the most on record, to Rs 224.

The stock advanced 15 percent in the past five days and fell 0.1 percent in the past 30 days.

Trading volume was more than 13 times its 20-day average, Bloomberg data showed. Of the shares traded, 43 percent were at the ask price and 41 percent were at the bid.

Indian equity benchmarks were trading off day’s high.

The S&P BSE Sensex rose 0.1 percent to 40,202 as of noon and the NSE Nifty 50 rose 0.16 percent to 11,910. The broader markets represented by the NSE Nifty 500 Index rose 0.12 percent.

Infosys says:

• Hasn’t received any evidence to corroborate allegations
• Auditors were given mandate to review some processes
• Will update key findings once investigation concluded

About 17.9 lakh shares of Bank of Baroda changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Nine out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Metal Index’s over 3 percent rally. On the flipside, the NSE Nifty Media Index was the top sectoral loser, down by more than 1 percent.

Indian equity benchmarks extended gains to trade at day’s high.

The S&P BSE Sensex rose as much as 0.73 percent to hit an all-time high at 40,457.94. The NSE Nifty 50 rose 0.78 percent to 11,983.75. The broader markets represented by the NSE Nifty 500 Index rose 0.77 percent.

Nifty’s 12,00 call option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the weekly contract, which is set to expire on Thursday, rose 35.81 percent to Rs 49.30. Over 4.93 lakh shares were added to the open interest which stood at over 26.08 lakh shares.

Hero MotoCorp

• Stock fell as much as 1 percent to Rs 2,678.
• Sales fell 19 percent to 5,99,248 units, according to its exchange filing. The company also clocked 12.84 lakhs in terms of retail sales clocked last month. The company sold 7,34,668 units in the same month last year.

Tata Motors

• Stock rose as much as 1.9 percent to Rs 178.45.
• Domestic sales down 32 percent at 39,152 units vs 57,710 units.

JK Lakshmi Cement (Q2, YoY)

• Stock rose as much as 4.8 percent to Rs 303.80.
• Revenue up 9.8 percent at Rs 935.5 crore
• Net profit up 5 times at Rs 45.9 crore
• Ebitda up 62.3 percent at Rs 148.6 crore
• Margin at 15.8 percent versus 10.7 percent

V-Mart Retail (Q2, YoY)

• Stock fell as much as 4.5 percent to Rs 1,868.30.
• Revenue up 19.8 percent at Rs 314.2 crore
• Net loss at Rs 18 crore vs net loss at Rs 4 crore
• Ebitda at Rs 11.4 crore versus Ebitda loss of Rs 1.4 crore
• IND AS 116 Impact Seen
• Inventory Gain of Rs 230.2 crore in current quarter
• SSSG growth at 1 percent, impacted be economic slowdown
• Opened 27 new stores in H1FY20 taking total store count to 239

Central Bank of India (Q2, YoY)

• Stock rose as much as 7.4 percent to Rs 25.50.
• Net interest income up 12.9 percent at Rs 1,891 crore
• Net profit at Rs 134.1 crore versus net loss at Rs 923.6 crore
• Provisions at Rs 550.6 crore versus Rs 1,649.3 crore
• Gross NPA at 19.89 percent from 19.93 percent QoQ
• Net NPA at 7.9 percent from 7.98 percent QoQ

GIC Housing Finance (Q1, YoY)

• Stock fell as much as 7.9 percent to Rs 160.40.
• Net interest income down 20.9 percent at Rs 70.7 crore.
• Net loss at Rs 10 crore versus net profit at Rs 46.2 crore.
• IND AS 116 impact seen.

Escorts (Q2, YoY)

• Stock fell as much as 2.1 percent to Rs 643.90.
• Revenue down 6 percent to Rs 1,333.77 crore.
• Net Profit flat at 101.54 crore.
• Ebitda down 18 percent to Rs 124.69 crore.
• Margin at 9.34 percent versus 10.80 percent
• Tax expense down 92 percent to Rs 4.08 crore.
• Exceptional loss of 9.22 crore represents full and final settlement of product liability matter

Trident (Q2, YoY)

• Stock rose as much as 8.5 percent to Rs 67.50.
• Revenue down 5 percent to Rs 134.65 crore.
• Net Profit up 27 percent to Rs 13.98 crore.
• Ebitda at Rs 26.5 crore versus Rs 27.47 crore.
• Forex gain of Rs 2.57 crore versus loss of Rs 5.58 crore.

Relaxo Footwear (Q2, YoY)

• Stock rose as much as 15.5 percent to Rs 629.
• Revenue up 14 percent to Rs 621.77 crore.
• Net Profit up 79 percent to Rs 70.54 crore.
• Ebitda up 42 percent to Rs 104.71 crore.
• Margin at 16.84 percent versus 13.54 percent.
• Tax expense at Rs 3.76 crore Rs 23.55 crore.

BEML (Q2, YoY)

• Stock fell as much as 4.6 percent to Rs 998..
• Revenue down 6 percent to Rs 687.11 crore.
• Net loss at Rs 27.2 crore versus net profit of Rs 16.63 crore.
• Ebitda loss at Rs 7.26 crore versus Ebitda profit of Rs 42.07 crore.

Shares of Alkem Laboratories fluctuated between gains and losses to trade little changed at Rs 2,001.95.

The company said that U.S. FDA has closed its inspection at its manufacturing facility in Daman and Baddi. The regulator has issued an EIR for both plants in the month of August when the inspection took place.

Trading volume was almost 10 times its 20-day average, Bloomberg data showed. Of the shares traded, 61 percent were at the ask price and 27 percent were at the bid.

• CG Power And Industrial Solutions: About 6.26 crore or 10 percent equity changed hands in a large trade.
• Rain Industries: About 13.6 lakh shares changed hands in a large trade.

Buyers and sellers were not known immediately.
Source: Bloomberg

Indian equity benchmarks opened higher in today’s trade.

The S&P BSE Sensex rose as much as 0.67 percent to hit an all-time high at 40,434.83 and the NSE Nifty 50 rose 0.43 percent to 11,939.45. The broader markets represented by the NSE Nifty 50 rose 0.4 percent.

The market breadth was tilted in favour of buyers. About 991 stocks advanced and 370 shares declined on National Stock Exchange.

Eight out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Metal Index’s 2 percent rally. On the flipside, the NSE Nifty Media Index was the top sectoral loser, down 0.73 percent.

Futures

• Nifty November futures closed at 11928.2, premium of 37.6points
• Nifty November Futures OI up 2 percent, adds 2.4 lakh shares in OI
• Nifty Bank November futures closed at 30,374, premium of 43.6 points
• Nifty Bank November futures series OI up 21 percent, adds 1.6 lakh shares in OI

Options

• Nifty PCR at 1.41 (across all series)

Nifty Weekly Expiry: Nov 7

• Max OI on call side at 12,000 (21 lakh shares)
• Max OI on put side at 11,800 (20.8 lakh shares)
• OI addition seen at 11,800P (+7.4 lakh shares), 12,000C (+7 lakh shares)

Nifty Monthly Expiry: Nov 28

• Max OI on call side at 12,000 (17.2 lakh shares)
• Max OI on put side at 11,600 (18.8 lakh shares)

• BPCL promoter Government of India sold 69.12 lakh shares on Oct. 10
• Hatsun Agro Product promoter and director RG Chandramogan acquired 63k shares on Oct. 31

(As Reported On Oct. 31)

• Mahindra & Mahindra Financial Services to meet Black Rock (Hong Kong), Ruane Cuniff & Goldfarb and other investors from Nov. 5-13

• Yes Bank: BNP Paribas Arbitrage sold 1.3 crore shares (0.51 percent) at Rs 69.15 each
• Eveready Industries: Aditya Birla Finance sold 25 lakh shares (3.44 percent) at Rs 59.6 each. Naravi Infra and Utilities acquired 6 lakh shares (0.83 percent) at Rs 59.6 each
• CL Educate: Principal MF sold 73,000 shares (0.52 percent) at Rs 75 each
• Jyothy Labs: UTI MF acquired 19.6 lakh shares (0.53 percent) at Rs 173.4 each. Reliance MF acquired 69.2 lakh shares (1.88 percent) at Rs 173.4 each. Promoter Sahyadri Agencies sold 1.55 crore shares (4.22 percent) at Rs 173.4 each.
• Just Dial: Matthew Pacific Tiger Fund sells 4.41 lakh shares or 0.68 percent of equity. Holding in Just Dial now at 3.22 percent from 3.90 percent.

The Indian rupee opened higher against the U.S. dollar. The home currency appreciated as much as 0.36 percent to 70.55 against the greenback.

Indian equity indices are set to open higher in today’s trade.

The S&P BSE Sensex rose 0.36 percent to 40,304 during the pre-market trade and the NSE Nifty 50 rose 0.34 percent to 11,930.

• Hero MotoCorp’s sales fell 19 percent to 5,99,248 units for the month of October, according to its exchange filing. The company also clocked 12.84 lakhs in terms of retail sales clocked last month. The company sold 734,668 units in the same month last year.
• Tata Motors Domestics Sales down 32 percent at 39,152 units vs 57,710 units.

• Reliance Capital has defaulted in payment of NCD obligations which were due on Oct. 31.
• Alkem Laboratories said that U.S. FDA has closed its inspection at its manufacturing facility in Daman and Baddi. The regulator has issued an EIR for both plants in the month of August when the inspection took place.
• Vodafone Idea: India Ratings cut the company’s long-term rating and bonds to BBB from A+, citing increased liquidity risk, deteriorating operations and weakening support from promoters, the rater said in a statement.
• Coal India: Coal production in October down 20.9 percent at 39.35 million tons versus 49.78 million tons. Coal offtake down 18.9 percent at 40.5 million tons versus 49.96 million tons.
• Indiabulls Housing Finance to consider raising funds via NCDs on Nov. 6.
• Berger Paints to increase its stake from 91.94 percent to 95.53 percent in STP Ltd. The target company has become the subsidiary of Berger Paints with effect from Nov. 1.
• InterGlobe Aviation said that they are confident to meet DGCA directive where the company is required to have at least one LPT 3 modified engine on aircraft which has one unmodified engine. The new directive requires that all operating A320 NEO should have both engines with LPT3 modification installed for operation post Jan 2020. The company is working with both P&W and Airbus on mitigation so that enough modified spare engines are there by January 2020, the schedule has remained intact.
• Ashok Leyland to observe non-working days ranging from 0-12 days during the month of November.
• 3i Infotech: Board approved sale of 74 percent stake in company’s arm Locuz Enterprise Solutionz for Rs 23 crore.
• MOIL has reduced prices of all grades of manganese ore (37 percent and above) by 20 percent on existing prices for manganese ore (less than 37 percent) by 25 percent on the current prices prevailing since Oct. 1.
• IL&FS Transportation Networks defaulted in payment of debenture interest aggregating to Rs 2.29 crore which was due on Nov. 1.
• Lakshmi Vilas Bank said that divergence in provisioning for FY19 stood at Rs 111.9 crore and the Bank has already considered Rs 62.72 crore in Q1FY20.
• Union Bank said that divergence in provisioning for FY19 stood at Rs 1,587.6 crore and adjusted loss after divergence stood at Rs 3,978 crore.
• Indian Bank said that divergence in provisioning for FY19 stood at Rs 1,004 crore and adjusted loss after divergence stood at Rs 333.2 crore.
• Allcargo Logistics to consider an issue of NCDs aggregating to Rs 195 crore on Nov. 8.
• Eveready Industries: India Ratings and Research has downgraded the company's long-term credit rating to 'IND BB' from 'IND BBB-' and maintained it on Rating Watch Negative.
• Dhanlaxmi Bank: RBI approved the interim arrangement of formation of a Committee of Directors to exercise the powers vested with the Managing Director and CEO till such time a new MD and CEO is appointed and assumes charge. As advised by RBI, the interim arrangement will not continue beyond four months within which the bank will complete the process of identification and appointment of a new MD and CEO.
• Godrej Agrovet: Amalgamation of company’s two arms Creamline Dairy Products and Nagavalli Milkline has become effective on Oct. 31.
• Seamec said that subject contract for second season has commenced from Oct. 31 with mobilization of Barge Glorious.
• Aster DM to hold analyst conference call on Nov. 13, 2019 at noon.
• Just Dial: Matthew Pacific Tiger Fund sells 4.41 lakh shares or 0.68 percent equity reducing its holding in the company to 3.22 percent from 3.90 percent.
• Indiabulls Real Estate: Update on divestmet of London Property - Company’s wholly owned subsidiary has divested it entire stake in Century Limited to Clivedale Overseas Limited, an entity owned by the Promoters of the Company. With this Century Limited ceases to be a subsidiary of the Company. A consideration of 200 million pounds would be received in tranches.
• Cochin Shipyard acquired 57,20,000 shares or 26 percent equity of Hooghly Cochin Shipyard Ltd., an unlisted subsidiary of CSL, on Nov. 1, 2019 at total consideration of Rs.5.06 crore. Prior to this acquisition of shares, CSL was holding 74 percent of the equity shares of HCSL.
• Steel Strips And Wheels’ rim sales fell 27 percent on a yearly basis to 10.55 lakhs last month. The number is lower due to the fact that October was the second highest sale figure for SSWL ever. The base effect of last year's festive sales was the reason for large dip in sales volumes.
• Manapuram Finance: Meeting of the financial resources and management committee of the board of directors of the company will be held on Nov. 7. Inter- alia to consider and approve the issuance of the private placement of rated, secured, redeemable non-convertible debentures for Rs.200 crore.
• DCB Bank revised marginal cost of funds-based lending rate with effect from Nov. 5. Overnight MCLR at 8.71 percent, one-month MCLR at 8.71 percent, three-month MCLR at 9.34 percent, six-month MCLR at 9.91 percent and one-year MCLR 10.31 percent.
• SpiceJet: Ajay Singh, promoter and chairman of the company, has pledged around 2.78 percent stake for securing a credit facility for the budget airline.
• Minda Industries issued commercial paper of Rs 30 crore due for maturity on Jan. 30, 2020. This is in line with the management efforts to bring down finance costs.
• IRB Infra: NHAI terminates the Concession Agreements of IRB PP Project Private Limited and IRB PS Highway Pvt. Ltd. with effect from May 15, 2019 as per clause 4.5 of respective concession agreements.

Nifty Earnings To Watch

• Housing Development Finance Corporation

Other Earnings To Watch

• Automotive Axles
• Mahindra Logistics
• Sun Pharma Advanced Research
• Sundram Fasteners
• Bharat Electronics
• Can Fin Homes
• CARE Ratings
• Varun Beverages
• GE Power India
• Godrej Agrovet
• HSIL
• HT Media
• Indian Overseas Bank
• Intellect Design Arena
• Kirloskar Brothers
• KRBL
• Mahindra Holidays & Resorts India
• Mangalore Refinery and Petrochemicals
• NACL Industries
• NOCIL
• Persistent Systems
• Piramal Phytocare
• Repro India
• SRF
• Sudarshan Chemical Industries
• TCI Developers
• TCI Express
• The Hi-Tech Gears
• WABCO
• Wheels India

Earnings Reaction To Watch

Yes Bank (Q2, YoY)

• Net interest income down 9.6 percent at Rs 2,185.91 crore
• Net loss at Rs 600.08 crore versus net profit at Rs 964.70 crore
• Provisions at Rs 1,336.25 crore vs Rs 1,784.11 crore QoQ
• Gross NPAs at 7.39 percent versus 5.01 percent QoQ
• Net NPAs at 4.35 percent versus 2.91 percent QoQ
• Measurement of accumulated DTA has resulted in a one-time additional charge of Rs 708.61 crore

JK Lakshmi Cement (Q2, YoY)

• Revenue up 9.8 percent at Rs 935.5 crore
• Net profit up 5 times at Rs 45.9 crore
• Ebitda up 62.3 percent at Rs 148.6 crore
• Margin at 15.8 percent versus 10.7 percent

V-Mart Retail (Q2, YoY)

• Revenue up 19.8 percent at Rs 314.2 crore
• Net loss at Rs 18 crore vs net loss at Rs 4 crore
• Ebitda at Rs 11.4 crore versus Ebitda loss of Rs 1.4 crore
• IND AS 116 Impact Seen
• Inventory Gain of Rs 230.2 crore in current quarter
• SSSG growth at 1 percent, impacted be economic slowdown
• Opened 27 new stores in H1FY20 taking total store count to 239

Central Bank of India (Q2, YoY)

• Net Interest Income up 12.9 percent at Rs 1,891 crore
• Net profit at Rs 134.1 crore versus net loss at Rs 923.6 crore
• Provisions at Rs 550.6 crore versus Rs 1,649.3 crore
• Gross NPA at 19.89 percent from 19.93 percent QoQ
• Net NPA at 7.9 percent from 7.98 percent QoQ

GIC Housing Finance (Q1, YoY)

• Net interest income down 20.9 percent at Rs 70.7 crore.
• Net loss at Rs 10 crore versus net profit at Rs 46.2 crore.
• IND AS 116 impact seen.

Escorts (Q2, YoY)

• Revenue down 6 percent to Rs 1,333.77 crore.
• Net Profit flat at 101.54 crore.
• Ebitda down 18 percent to Rs 124.69 crore.
• Margin at 9.34 percent versus 10.80 percent
• Tax expense down 92 percent to Rs 4.08 crore.
• Exceptional loss of 9.22 crore represents full and final settlement of product liability matter

Trident (Q2, YoY)

• Revenue down 5 percent to Rs 134.65 crore.
• Net Profit up 27 percent to Rs 13.98 crore.
• Ebitda at Rs 26.5 crore versus Rs 27.47 crore.
• Forex gain of Rs 2.57 crore versus loss of Rs 5.58 crore.

Relaxo Footwear (Q2, YoY)

• Revenue up 14 percent to Rs 621.77 crore.
• Net Profit up 79 percent to Rs 70.54 crore.
• Ebitda up 42 percent to Rs 104.71 crore.
• Margin at 16.84 percent versus 13.54 percent.
• Tax expense at Rs 3.76 crore Rs 23.55 crore.

BEML (Q2, YoY)

• Revenue down 6 percent to Rs 687.11 crore.
• Net loss at Rs 27.2 crore versus net profit of Rs 16.63 crore.
• Ebitda loss at Rs 7.26 crore versus Ebitda profit of Rs 42.07 crore.

• U.S. stocks fell on Friday as weak manufacturing data and renewed concern on trade rattled markets adjusting to the Federal Reserve’s signal that it’s done easing.
• Oil fell for a third day as a U.S. government report showed a bigger-than-expected build in domestic crude supplies and Chile cancelled a summit where the U.S. and China were expected to sign a preliminary trade accord.

Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.22 percent to 11,963.50 as of 8:05 a.m.

Stocks edged higher in Asia and American equity futures ticked up as China and the U.S. move closer to an interim trade deal.

Shares jumped in Seoul, and rose in Sydney, though a capital-raising at a big Australian bank capped sentiment. Markets are shut in Tokyo, so cash trading of Treasuries begins at the London open.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.