30th March, Morning Brief

30th March, Morning Brief

Nifty closed above its crucial resistance level of 9,140 in the previous trading session could be able to reclaim 9200 mark and may make a dash towards new high in coming sessions.

Major three EU indices closed in green and welcomed to new Britain by 2019. US was mixed on its bourses. Dow was negative by 42 points where as Nasdaq and SP500 were up by 22 points and 2 points respectively.

The ₹ reached to a new 17-month high and closed below 65, a level not seen since October 2015, on heavy dollar selling by speculative traders and exporters.

🎯 News & Impact 🎯

🎯 Axis Bank : 
Axis bank has tied up with Wells Fargo, the third largest American bank by assets, to offer real time remittances from the Indian diaspora to their relatives back home. Under the arrangement between the two banks, any member of the Indian diaspora holding an account with Wells Fargo will be able to transfer money to their relatives back home and there will be no transaction fee applicable to the money transfers from USA. But the relative or the beneficiary in India will need to have an account with Axis Bank. 

🎯 Kotak Mahindra Bank : 
The bank on Wednesday said reports of it planning to acquire an NBFC are speculative, but hinted it's interested in consolidation drive and termed the pile of stressed assets in the system as a growth area. 

🎯 Siemens : 
A consortium of Siemens and Sumitomo Electric Industries has bagged an order of $520 million from Powergrid Corp for supply of a high-voltage direct current (HVDC) transmission system. 

🎯 Reliance Infra : 
Reliance Infrastructure InvIT Fund, which is planning a Rs.3,000-crore issue next month, has become the first to get approval from the National Highway Authority (NHAI), according to sources. 👍🏻

🎯 Alkem Laboratories : 
The pharma firm on Wednesday said it has received establishment inspection report (EIR) from the US health regulator on the closure of its inspection at its API facility at Ankaleshwar in Gujarat.

🎯 Tata Motors : 
In a landmark agreement signed with Pune plant workers on Tuesday, TATAMOTORS , India's largest automobile company by revenues, has initiated a move to bring 15-20,000 blue collar factory workers to a wage structure that is performance-linked. 

🎯 NHPC : 
The government has sold equity shares worth Rs.1,950 crore in the state-run hydro power generator NHPC, Ltd. under buyback issue of the company. The Central government has sold 60.48 crore equity share, NHPC said in a BSE filing today. 

🎯 Supreme Infra :
Shareholder Approve Preferential Allotment Of Equity To Promoters. Shareholder Approve Issuance Of Equity Via QIP.

🎯 Thermax :
To Acquire 100% Capital Of Barite Investments, Poland.
Acquisition Part Of Definitive Pact With Weiss.

🎯 Welspun Enterprises :
Adani Welspun Exploration Awarded Contract Area B-9 Cluster In DSF 2016. Area Of Cluster Is 183 km & Is Located In Mumbai Offshore Basin. Co Holds 35% Stake In Adani Welspun Exploration. 👍🏻

🎯 Hero Motocorp :
Respect Sentiments Of The Judiciary & Government.
Have Been Producing BS-IV Products Since 1-Month Before Deadline. Have Reduced BS-III Inventory Significant In Past Few Months. Environmental Protection Will Take Precedence Over Temporary Financial Benefits.

🎯 Venkys :
Circuit filter revised to 5%

🎯 Mahindra Life spaces :
Ex date for rights issue.

🎯 Mphasis :
Ex date for buy back eligibility.

🎯 JSW Steel :
CARE affirms long term rating of AA- and reaffirms short term rating of A1.

🎯 IFCI :
CARE downgrades rating from CARE A to CARE A and from CARE A to CARE A-.

🎯 Shriram Transport Finance :
Approved and allotted NCDs worth Rs. 1100cr.

🎯 Tayo Rolls :
BM on 1 Apr to allot non-cumulative redeemable preference shares to promoter.

🎯 Yes Bank :
The private sector lender on Thursday announced that the Capital Raising Committee of the board of directors at its meeting held on March 29 has approved issue price of Rs.1500 per equity share for issuance of 3,27,11,000 equity shares to QIBs. Closed QIP of 3.27cr shares at Rs.1500 wef 29 March.

🎯 Reliance Industries :
Completed sale of entire 76% stake in Gulf Africa Petroleum Corporation to Total.

🎯 Punjab & Sind Bank :
Approved to raise funds up to Rs. 1500 via NCDs in FY18.

🎯 Sadbhav Engineering :
Signed EPC agreement with Sadbhav Bangalore Highway for Rs.855cr.

🎯 Sadbhav Infrastructure :
Signed maintenance contract with Sadbhav Bangalore Highway for Rs. 70cr.

🎯 Berger Paints :
Commenced production from Assam plant.

🎯 Hitech Plast :
Commenced operations at Rohtak unit.

🎯 Excel Industries :
Approved sale of Environment & Biotech Division to WOS.

🎯 Ujaas Energy :
Approved sale of 100% stake in Ujaas Energy HK.

🎯 DCM Shriram :
Inaugurated Expanded Capacity and Upgradation of Chlor Alkali & Captive Power at Bharuch plant.

🎯 Huhtamaki PPL :
Commenced Commercial production at Sikkim and Assam Plant.

🎯 Minda Industries:
Successfully completed QIP of Rs. 300cr at Rs. 423 per share.

🎯 Deepak Nitrite :
Closure order of one of the three units at Hyderabad revoked by TSPCB.

🎯 Subros:
Approved issue of NCDs up to Rs.150cr.

🎯 Future Lifestyle Fashions: 
The company has transferred its Lee Cooper business to a wholly-owned arm Future Speciality Retail Ltd by way of a slump exchange on a going concern basis. 

🎯 Future Lifestyle:
Plans to raise Rs.450cr from Marquee Investors.

🎯 Alkem Labs :
Gets EIR from USFDA for Ankleshwar plant.

🎯 ICICI Bank :
Fairfax needs to sell 25% stake in ICICI Lombard to get a new permit.

🎯 SAIL :
Cuts costs by 10% despite rise in coal prices.

🎯 PFC :
Led lenders, PE sieze control of kasliwals hydel project.

🎯 Balaji Telefilms :
Alt balaji in pact with mobikwik for payment wallet integration.

Edited by Sharp.
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