Flat opening expected.
There is no trigger for a runway rise of the market and, in the same manner, there are no signs of any reversal in the primary trend. Nifty has support at 9080-9100 zone.
🎯 News & Impact 🎯
Gruh Finance :
Mortgage lender HDFC Ltd's subsidiary on Monday registered an increase of 25.7% in its net profit at Rs. 110.45 cr for the fourth quarter ended March 31, 2017. The company had reported net profit of Rs.87.82 crore during the January-March period of 2015-16. 👍🏻
🎯 TCS:
TCS shareholders on Monday approved the company's Rs.16000 cr share buyback plan, the company said in a regulatory filing on BSE on Monday. The IT major will announce its financial results for the quarter ended March 31, 2017 later in the day.
🎯 Suzlon Energy :
Suzlon Group has installed and commissioned 2 renewable projects of 50.40 mw each for NALCO at Gondikota in Andhra Pradesh and Jat in Maharashtra. Both the projects have the potential to provide power to over 54,000 households and reduce 0.20 million tonnes of CO2 emissions per annum.
🎯 PNB and Bank of Baroda:
The government is working on a road map for the overhaul of state-run lenders that involves the next round of consolidation, public offers in the next few months by banks to raise fresh capital, and changes in the hiring policy, including increased lateral entry. This could see PNB and BOB taking over smaller lenders, said a senior finance ministry official. 👍🏻
🎯 Religare Enterprises:
Daiichi Sankyo has objected to Religare Enterprises’ decision to sell its stake in Religare Health Insurance, a move the Japanese company claims violates a Delhi High Court order in its legal tussle against former Ranbaxy promoters Malvinder and Shivinder Singh.
🎯 Nestle India:
The company has contested the Rajasthan food regulator's reported finding that its Cerelac Wheat infant food failed the quality parameter of “total protein“ and it has asked for proceedings against the company to be dropped. 👍🏻
🎯 Vakrangee Limited:
The Board of Directors of Vakrangee Limited has approved to provide the services of GST Registration, filing of returns, payment and other value added services thereunder through Vakrangee Kendra Outlets.
🎯 Auropharma :
Aurobindo Pharma gets US FDA nod for Rocuronium Bromide injectable (Rocuronium is a muscle relaxant used in modern anaesthesia pre-surgery).
Aurobindo Pharma's unit 3 currently undergoing US FDA inspection. US FDA likely to inspect Aurobindo's unit 4 from next week.
Stay cautious on the stock.
🎯 No immediate stake sale on cards for REC, PFC, NLC, NTPC, NHPC, IOC, Government official said.
Government floats RFP (request for proposals) for transaction advisors for stake sale in 7 PSUs. 👎🏻
🎯 Technology stocks :
US President Donald Trump to sign order tomorrow calling for reviewing the H1-B visa program. 👍🏻
🎯 Tata Steel :
Board meeting on April 20 to consider proposal for fund raising.
🎯 HPCL :
Resumes operations at Rajasthan refinery, revised MOU signed with state government.
🎯 National Fertilizers :
Receives letter of intent from space centre in Sriharikota to set up nitrogen tetroxide plant. 👍🏻
🎯 Seshasayee Paper :
Tamil Nadu government restricts Seshasayee Paper from drawing water from Cauvery due drought. 👎🏻
🎯 GTL Infra :
Corporate debt restructuring lenders converted part of GTL Infra's outstanding debt into equity shares.
🎯 IndusInd Bank :
Launches IndusForex.com portal for foreign exchange needs.
🎯 Indian Hotels :
Allotted non-convertible debentures (NCD) worth Rs.200 cr on private placement basis. 👍🏻
🎯 Berger Paints :
Subsidiary and NBCC sign memorandum of business exploration to bring external thermal insulation and composite systems solutions to India.
🎯 Orchid Pharma:
CARE revises rating to D.
🎯 APL Apollo :
Launches Apollo coastguard corrosion proof galvanised steel pipes for coastal regions.
🎯 Warburg :
Plans to sell 10 % stake in Capital First through block deals.
🎯 Dabur :
Plans a call centre for Ayurveda.
Edited by Sharp.
© Sharp Investment & Financial Advisers
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