Market may open with a flat note considering SGX Nifty. Corrective activities are likely to continue, we expect the market to try and find some base. We expect the downsides to remain capped as the market may attempt to find a bottom at current levels. At present, the Nifty50 rests at its short-term support of 20-DMA. 9100-9080 will be the good support zone for Nifty.
🎯 News & Impact 🎯
🎯 DCB :
DCB Bank has reported 24.3 per cent fall in net profit at Rs.53 cr for the fourth quarter ended March of 2016-17 fiscal. The bank had reported net profit of Rs.70 cr in January-March quarter of 2015-16.
🎯 Reliance Infrastructure:
Anil Ambani-led Reliance Infrastructure on Saturday reported consolidated net profit of Rs.40.94 cr for the March quarter against a net loss of Rs 327.41 crore a year ago. The company’s total income for the January-March 2017 declined to Rs.6,145 cr from Rs 6,910 crore a year-ago. Positive for the stock.
🎯 RIIL:
RIIL on Friday reported an exponential rise of 140.1 per cent in its net profit for the fourth quarter (Q4) of 2016-17. The company's net profit rose to Rs 7.30 crore from Rs 3.04 crore reported for the corresponding quarter of 2015-16.
Positive for the stock.
🎯 Reliance Power:
The company on Thursday reported a 250 per cent rise in consolidated net profit at Rs 215.90 crore for the fourth quarter ended March 31, 2017 against Rs 61.55 crore in the corresponding quarter last year.
Positive for the stock.
🎯 Bajaj Corp:
FMCG maker Bajaj Corp Ltd on Thursday reported a decline of 2.93 % in standalone net profit at Rs.52.66 cr for the fourth quarter ended March. It had posted a standalone net profit of Rs.54.25 cr in the January-March quarter of 2015-16, Bajaj Corp Ltd said in a BSE filing.
🎯 Manaksia Industries:
Net profit of Manaksia Industries declined 55.82 % to Rs. 6.30 cr in the quarter ended March 2017 as against Rs. 14.26 cr during the previous quarter ended March 2016.
🎯 Uttam Galva Steels:
The company is facing a fresh litigation over a loan default, with the petitioner filing the case against the steelmaker under the new Bankruptcy Code that promises speedy resolutions. The Mumbai Bench of the National Company Law Tribunal (NCLT) last week admitted the petition filed by DF Deutsche Forfait under the Insolvency and Bankruptcy Code. The company failed to repay Rs. 110.4 cr that DF Deutsche had extended as trade financing, the petition said.
Negative for the stock.
🎯 Federal Bank:
The bank is planning to sell up to 26% stake in its non-bank finance unit, Fedbank Financial Services, to private equity firms to raise Rs 400-500 crore, two people with direct knowledge of the matter said.
Positive for the stock.
🎯 Dr Reddy's Laboratories:
Drug firm Dr.Reddy's Laboratories on Friday said the US health regulator has completed inspection of its Srikakulam facility without making any observations.
Positive for the stock.
🎯 Cairn India:
The company, along with its partners is set to invest Rs.3,240 crore in the Ravva Fields in the Krishna-Godavari Basin, to undertake 20 Developmental Wells and for setting up related infrastructure, as the oil and gas production is dwindling from the existing wells.
🎯 OMCs:
Shares of public sector oil marketing companies (PSU OMCs) will be watched. Petrol price was increased by Rs 1.39 per litre while diesel was made expensive by Rs 1.04 per litre. The price of both fuels - petrol and diesel - exclude state levies - which means the actual increase in price will be more after taking into account local value-added tax (VAT) - and took effect from the midnight of April 15.
Positive for the stocks.
🎯 Godrej Propeties:
The company announced that it has partnered with Taj Hotels Palaces Resorts Safaris to develop a Taj brand hotel at its flagship project, The Trees, in Vikhroli, Mumbai. The Taj at The Trees will offer approximately 150 guest rooms and suites along with dining, entertainment, and conferencing facilities. The announcement was made before trading hours on April 17.
🎯 Aban Offshore:
Aban Offshore said that Shema Renny Abraham, one of the company's promoters, sold 25,000 shares, or 0.04 per cent equity, in the open market on April 12, 2017. Shema Renny Abraham now holds 3.90 lakh shares, or 0.67 per cent equity, of Aban Offshore. The announcement was made after market hours on Thursday, April 13.
🎯 Torrent Pharma :
Two of Torrent Pharma's plants to be re-inspected by US FDA.
Negative for the stock.
🎯 Allahabad Bank :
Board approves raising Rs.418 cr via preferential allotment of equity shares to govt.
🎯 Gujarat Apollo Industries :
Board approves buyback of upto Rs.24 cr at maximuim Rs.189/share
🎯 Aarey Drugs :
Cancels proposal to acquire Floral Labs.
Negative for Floral labs.
🎯 Indian Hume Pipe :
Wins order worth Rs.177.22 cr in Bangalore.
Positive for the stock.
🎯 Balaji Telefilms :
Launches Alt Balaji.
🎯 Bhartiya International :
Allotted 7 lakh share warrants to non-promoter group.
🎯 Brigade Group :
Launch of maiden Luxury residential project in Chennai.
🎯 Fiberweb :
India issued 1 lakh warrants to non promoters.
🎯 Central Bank of India :
Says preferential allotment of 5.5 cr shares i.e Rs.583 cr to Government of India.
Positive for the stock.
🎯 Raymond :
Board meeting on April 19 for issuing non-convertible debentures (NCDs) worth Rs.150 cr.
🎯 Cipla :
JV terminated with Ahran Tejarat.
🎯 Nestle :
Nestlé India ties up with Google and Paytm for promotion.
Positive for the stock.
🎯 Opto Circuits :
Board meeting April 16 to reconstitute board to improve operational efficiency.
🎯 Lic Hsg Finance :
Vinay Sah appointed as MD & CEO of LIC Housing Finance.
🎯 Peninsula Land :
Board meeting on April 24 to consider issuing NCD.
🎯 Idea Cellular :
Plans to start payment bank operations by June.
🎯 Henkel :
Keen to pick up 50% in Jyothy labs.
🎯 Dilip Buildcon :
To monetize old projects in HP, Gujarat, Maharashtra and MP to execute new hybrid annuity ones.
🎯 Axis Bank :
Logs 1 million micro lenders and not keen on acquiring any micro lender.
🎯 Indo Rama Synthetics :
Eyes stake in Haldia Petrochemical.
🎯 Dwarikesh, Balrampur, Simbhaoli, Mawana, Rana sugar stocks in focus - UP based sugar mills to take part in raw sugar import programme.
Edited by Sharp.
© Sharp Investment & Financial Advisers.
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