28th March Morning Brief

28th March Morning Brief

Volatility ahead of F&O expiry, Brexit talks, overnight rise in US stocks and Parliament debate on the GST legislations are going to influence market sentiment today.

9140 will be the level to sustain above to move to jump over previous high.

Asian markets across Japan, Korea and Australia were trading positive in early morning trade. In overnight trade, US stocks gained up to 1 per cent after data showed US consumer confidence climbed to a more than 16-year high. The Dow advanced 150.52 points, the S&P500 added 16.98 points & Nasdaq rose 34.77 points last night.

Two days before expiry, marketwide rollovers stood at 43 %, which were higher than the average rollover of 42 % seen during the comparable period of last three series. Nifty futures rollovers stood at 46 % on D-2, which were a bit higher compared with the average rollover of 41 % seen in last three series. 
Highest OI in 9000 put & 9200 call may brace the index.

🎯 News & Impact 🎯

Cabinet To Consider Mega Power Policy Today: Sources. Mega Power Policy To Allow Extension Of 5 Yrs For Power Projects To Sign PPAs. Extension To Allow Power Cos To Enjoy Customs & Import Duty Benefits. Power Purchase Agreement & Bank Guarantee To Be In Proportion For Power Projects.👍🏻 Positive for power stocks.

🎯 NPA Resolution: Sources
Fin Min To Meet Bks, RBI Officials To Discuss NPA Resolution This Week.
Large Stressed Accounts To Be Taken Up For Resolution In Meet. Stressed Accounts Of Essar Steel, Bhushan Steel May Be On Agenda.
Stressed Accounts Of Alok Industries, Other Power Projects May Be On Agenda.
Decision-making Mechanism For Large Stressed A/cs Likely To Be Set Up. Move To Help Banks Write-off Debt Without Fear Of Investigation. Govt To Give Clarity On Funding Of NPA Accounts For Revival Of Company. May Relax Limit Of Working Capital To Be Provided By The Banks :
👍🏻Banking stocks & companies having NPA accounts will be beneficial.

🎯 NITI Aayog is preparing a fresh cabinet note recommending closure of 7 more sick CPSEs as part of an excercise to tackle mounting losses incurred by these entities. These include Hindustan Cable, Tyre Corporation, HMT Watches, Birds Jute and Export Limited (BJEL) and Central Inland Water Transport Corporation. 

🎯 US FDA Observations: Alkem Labs Baddi Unit. Written Testing Stability Programme On Several Drugs Not Completed In Time. 👎🏻

🎯 ITC: 
The Competition Commission has approved the proposed acquisition of Johnson & Johnson's two brands, 'Savlon' and 'Shower to Shower', by FMCG major ITC. 👍🏻

🎯 SBI:  
State Bank which would start merger process of five associates and Bharatiya Mahila Bank (BMB) from April 1, expects integration to be completed in three months. The lender also said it will increase its stake in SBI Card to 74 % by June end. 👍🏻

🎯 Idea Cellular: 
Telecom operator Idea cellular on Tuesday launched its 4G services in Jammu and plans to expand the high-speed services to 20 towns in the Jammu & Kashmir circle by June.

🎯 Tata group shares: 
Shares of Tata group companies will remain in focus on Tuesady after Tata Sons board approved a resolution to invest up to Rs 10,000 crore in various Tata group companies at the first board meeting chaired by N Chandrasekaran on February 21. 

🎯 Bharti Airtel: 
Telecom major BhartiAirtel on Tuesday announced the sale of 10.3 % stake in subsidiary Bharti Infratel to a consortium of funds for over Rs 6,190 crore ($951 million). 

🎯 PVR: 
Multiplex operator PVR is looking at around 90 per cent jump in revenue to around Rs.4,000 cr in four to five years driven by expansion across the country.

🎯 Millitoons Entertainment :
Listing of bonus shares.

🎯 Sundaram Fasteners :
Acquired 16.8lk shares of subsidiary from Bleistahl Produktions.

🎯 IL&FS Engineering :
Redeemed OCCRPS worth Rs. 50cr and CRPS worth Rs. 3cr.
IL&FS Transportation to refinance road assets worth ₹ 9000cr.

🎯 Shilpa Medicare :
Says shareholder meeting on 29 Apr to consider amalgamation of Navya Biologicals with self.

🎯 Healthcare Global :
Entered into SPA for a proposed investment in Cancer Care Kenya.

🎯 Autolite :
Converted 6lk warrants into 6lk equity shares.

🎯 Nestle :
Munch partners with Baahubali 2.

🎯 Balasore Alloys :
BM on 31 Mar for allotment of 1cr shares in lieu of 1cr warrants to promoters.

🎯 Indowind Energy :
Successfully completed powering of 1.92MW wind farm capacity in Karnataka and make change of 3.025MW in Tamil Nadu.

🎯 OM Metals Infra :
Gets LoI from Indra Sagar Project for Rs. 13.5cr.

🎯 V-Guard
Approved investment in GUTS Electro-mech.

🎯 Emmbi
Inaugurates World's Widest Width Pond Lining Facility at Silvassa.

🎯 Deccan chronicle
ED attaches assets worth rs, 263 cr. 👎🏻

🎯 National Peroxide
Wadias to buy out Solvays 25% stake in National Peroxide.

🎯 Ashok Leyland
To invest ₹400 crs on LCV development.

🎯 Escorts
To drive tractors to new markets ,cut costs.

🎯 JSW Steel
Considers Issuing Of Debt Instruments In Form Of $-denominated Senior Notes.

🎯 Sanofi
Gets US FDA Nod For Dupilumab Injection (Used To Treat Moderate-to-severe Atopic Dermatitis). 👍🏻

Edited by Sharp.
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