13th April, Morning Brief

SGX Nifty is trading at 9212 with 20 points' drop.
Nifty has immediate support at 9160. Today, Infy will be the major driver to market volatility.

President Donald Trump’s comments on the U.S. dollar sent the currency lower against its Asian counterparts, prompting a selloff in key regional equity markets early Thursday.
Nikkei was down by 212 points whereas Hang Seng was trading marginally down.
EU markets closed mix yesterday on a flat note. US markets ended negative less than half percent yesterday night.

🎯 Results today:
Infosys, Bajaj Corp, Reliance Power.

🎯 Infosys :
Revenues(₹17120Cr) less than market expectations. PAT at ₹3603 cr which is above street expectations. Board on Media at 10 am for buyback? of shares.

🎯 Heritage Foods: 
The company on Wednesday said it has completed acquisition of dairy business of Reliance Retail. “We have received approval from Competition Commission of India and completed the process of acquisition of dairy business of Reliance Retail," Heritage Foods said in a BSE filing. 

🎯 Lupin: 
Global brokerage house CLSA upgraded Lupin to ‘Buy’ from ‘Outperform’ and raised a target price to Rs 1,760 from Rs 1,650 earlier. 

🎯 Essar Shipping: 
The company on Wednesday reported a strong operational performance in its cargo handling services during 2016-17. The company’s cargo handling services during the period under review grew by 22 per cent and fleet capacity utilisation surged to 94 per cent from 80 per cent reported for 2015-16. 

🎯 Reliance Communications: 
Deutsche Bank has downgraded Reliance Communications shares to ‘Sell’ from ‘Hold’ and also cut the target price to Rs 30 from Rs 57. The global financial services firm believes that Reliance Communications competitive position has significantly weakened with Jio's entry. 

🎯 Heritage Foods: 
The company on Wednesday said it has completed acquisition of dairy business of Reliance Retail. “We have received approval from Competition Commission of India and completed the process of acquisition of dairy business of Reliance Retail," Heritage Foods said in a BSE filing. 

🎯 Lupin: 
Global brokerage house CLSA upgraded Lupin to ‘Buy’ from ‘Outperform’ and raised a target price to Rs 1,760 from Rs 1,650 earlier. 

🎯 Cipla: 
Drug firm Cipla said its subsidiary in South Africa has completed the acquisition of Anmarate (Pty) Ltd, South Africa, a deal estimated at around ZAR 26 million. 

🎯 Fortis Healthcare: 
Fortis Healthcare on Wednesday said two of its directors have resigned from the company. The two officials are Lynette Joy Hepburn Brown and Ravi Umesh Mehrotra. While Brown was the non-executive independent director, Mehrotra was holding the position of non-executive director in the company. 

🎯 Arshiya:
APFT To Acquire 6 Warehouses Of Co For Gross ₹534 Cr. APFT To Pay Co ₹434 Cr On Signing Of Definitive Agreement. Will Get Balance ₹100 Cr On Sale Over 4 Years On Achieving Milestones.

🎯 Reliance :
RIL begins commercial production of CBM gas.

🎯 Essar Shipping: The company on Wednesday reported a strong operational performance in its cargo handling services during 2016-17. The company’s cargo handling services during the period under review grew by 22 per cent and fleet capacity utilisation surged to 94 per cent from 80 per cent reported for 2015-16. 

🎯 United Bank:
Cuts Interest Rates For Deposits Up To ₹1 Cr For 1-year By 25 bps To 6.25%. Cuts Interest Rates For Deposits Over ₹1 Cr For 1-year By 25 bps To 4.5%.

🎯 JSW Steel :
llots $500 million fixed rate senior unsecured notes due on 2022

🎯 GTL Infra :
BM on 13th April conversion debt into equity under SDR.

🎯 Heritage Foods completes acquisition of dairy business of reliance retail.

🎯 Cipla :
Cipla Medpro South Africa Completes Acquisition Of Anmarate.

🎯 West Coast Paper Mills :
CARE revises ratings to A stable and A1.

🎯 Shilpi Cables :
BM on 18th April to approve conversion of 70 lk warrants.

🎯 Barak Valley Cements :
Commences commercial production from the expanded capacity.

🎯 IFCI :
Revises benchmark rate to 10.2% from 10.75%.

🎯 IOL :
Chemicals & Pharma receives approval for its product Ibuprofen, Lamotrigine, Metformin Hydrochloride.

🎯 Kamdhenu :
BM on 20th April to allot warrants on preferential /private placement basis.

🎯 Laurel Organics :
Receives approval to manufacture API.

🎯 IMT :
IMT Group selects Majesco Billing in the Cloud as their enterprise solution partner.

🎯 Quick Heal :
Partners with Rising Pune Supergiant to spread mass awareness on Internet security.

🎯 Minda Corp :
Issues commercial paper worth 25cr.

🎯 KDDL :
ICRA assigns credit rating of BBB & A3.

🎯 Bajaj Healthcare :
Government of India awards recognition to R&D Centre will help Bajaj Healthcare to take benefit of Income tax deduction

🎯 IDFC :
Alternatives to buy First solars 200mw renewable assets for 200mn$.

🎯 Mahindra Lifespace :
Launches 300cr rights issue.

🎯 Tuni Textile :
Board Approves Sale Of Un-Utilized Leasehold Property At MIDC Murbad, Thane.

🎯 Central Bank :
Board Approves Capital Raising Via Pref Issue Of Equity.

🎯 Stocks shifted to Trade to Trade segment :
Ador Multiproducts, Amarnath Securities, Ind Bank Housing, Sharp India, Solis Marketing and Viji Finance.

Edited by Sharp.
© Sharp Investment & Financial Advisers