Market likely to open negative tracking SGX Nifty trading lower by 21 points at 9247.
Rising tensions over US relations with Russia and North Korea have roiled financial markets globally, forcing investors to run for cover.
Our market might just shrug off these worries and take its own course, but this earning season may keep the market stock-specific.
Asian investor worries over Syria and North Korea sent gold and 10-year Treasury yields to their best levels since November overnight. The Nikkei was down 1.1% after earlier hitting a fresh 2017 low. This was driven by strength in the yen overnight, which often pressures local stocks.
Dow, Nasdaq & S&P closed in negative.
🎯 News & Impact 🎯
🎯 Reliance Defence and Engineering :
The company has reduced its consolidated loss to Rs 577.22 crore for the year ended March, 2017. It had posted a loss of Rs 592.42 crore for the year ended March 31, 2016.
EBITDA Margin At 11% Vs 7% (YoY)
Deferred Tax Credit At ₹45.6 Cr Vs ₹272.1 Cr (YoY).
🎯 Goa Carbon :
Q4 Standalone Profit At ₹5.1 Cr Vs ₹0.4 Cr (YoY).
Standalone Total Income Up 13.2% At ₹76.4 Cr Vs ₹57.5 Cr (YoY).
Standalone EBITDA Up 73.7% at ₹3.3 Cr Vs ₹1.9 Cr (YoY).
Standalone EBITDA Margin At 4.3% Vs 2.8 % (YoY)
Standalone Forex Gain ₹6.7 Cr Vs ₹0.2 Cr (YoY).
Standalone Tax Expense At ₹3.9 Cr Vs ₹0.4 Cr (YoY)
🎯 Aditya Birla Nuvo and Grasim :
The $41-billion Aditya Birla Group on Tuesday said the shareholders of Aditya Birla Nuvo Limited (ABNL) approved the scheme of amalgamation with Grasim Ind., followed by the demerger and listing of the financial services business, in line with the NCLT order and the Sebi requirements.
🎯 Vedanta & Cairn India :
Vedanta on Tuesday said that its merger with subsidiary energy firm Cairn India has become effective. Shareholders Of Cairn India Will Receive Interim Dividend Of ₹17.70/Share. For Each Share Held, Cairn India Shrhldrs Will Get 1 Share In Vedanta.
🎯 Reliance Industries :
After regulator TRAI nixed its complimentary offer, Reliance Jio on Tuesday announced a new plan of 1GB 4G data daily for 3 months at Rs 309 for its Prime members but rival Airtel dubbed the offer as a case of "old wine in a new bottle".
🎯 Tata Motors:
TAL Manufacturing Solutions, a wholly-owned subsidiary of Tata Motors, formed a strategic partnership with Italy's RTA Motion Control Systems to source motors and drives for its BRABO robot. The deal could also help the Indian company's efforts to make inroads into the European market.
🎯 Bharti Airtel:
Telecom major Bharti Airtel on Tuesday filed an appeal before ASCI seeking review of the watchdog's decision that sought modification or withdrawal of the company's 'fastest network' advertisement campaign.
🎯 ITC :
The FMCG major is overhauling its foods portfolio to invigorate its market share in categories that have been showing signs of fatigue more than a decade after the cigarette maker challenged the dominance of most packaged food companies in the country.
🎯 SBI :
To promote cashless transactions, the Department of Posts has joined hands with the SBI, officials said here on Tuesday.
🎯 SAIL :
Employees of three SAIL plants, that the government plans to divest, went on day-long strike on Tuesday to protest against the stake sale, a trade union leader said.
🎯 Shriram City Union Finance :
The Reserve Bank has imposed a penalty of Rs.20 lakh on Shriram City Union Finance and Rs.5 lakh penalty on Hinduja Leyland Finance for violating fair practices code guidelines.
🎯 Mahindra Holidays & Resorts :
The company has acquired an additional 3.22 % stake in Finland-based Holiday Club Resorts Oy (HCR) for 2.16 million euros (over Rs 14.5 crore).
🎯 Cyient :
Credit Suisse initiated coverage on Cyient with ‘Outperform’ rating and set a target price at Rs.625.
🎯 GM Breweries, Radico Khaitan, Pincon Spirit, United Spirits :
Chhattisgarh CM Says, Will Implement Liquor Prohibition In The State Soon.
To Implement Prohibition In Villages With Population Over 3,000.
🎯 Torrent Pharma :
Executes certain agreements to acquire healthcare portfolio of Novartis.
🎯 Wipro :
Completes acquisition of Infoserver.
🎯 Container Corporation of India :
Signs MOU with Container co. of Bangladesh for introduction of container trains between Bangladesh and India.
🎯 IDBI Bank :
Says Nationwide strike by Employees on April 12th.
🎯 Neuland Labs :
CARE revises rating to BBB and A3.
🎯 Swan Energy :
Allots 2.3cr shares at Rs.195 to 2i capital PCC.
🎯 Binny :
CARE revises rating to BB-
🎯 Cera Sanitaryware :
Issues 30cr worth commercial Paper.
Sukhjit starch and Chemicals :
Co's capex of Rs.125cr for Food Park.
🎯 Dredging Corporation :
Says 1 day strike by crew & petty officers in protest of rumors on sales of DCI.
🎯 Cybertech Systems :
Enters into an agreement with P R Newswire group for distribution of news
🎯 Winsome Textile :
Hydro Electric Power Project at Dharamshala synchronized with grid.
🎯 NBCC India :
Updates regarding Hindustan Steelworks Construction Ltd.
Edited by Sharp Investment & Financial Advisers.
© Sharp Investment & Financial Advisers
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