7th April, Morning Brief

SGX Nifty trading 40 points lower than previous closing at around 9226. So market expected to open negatively.

In Nifty Apr Fut, 6.91 lakh shares shed  in open interest. This showed caution at current levels. Pattern analysis depicted an overstretched picture. Even when the undercurrent remained strong, the Nifty remained overstretched at current levels. An upward move, in this manner, can make the market a little unhealthy even if the primary trend is not broken. 
The present strength is all set to take the market higher, but to make it safe and healthy at higher levels and to make it less unsafe for profit taking, it is necessary that the market consolidates a bit. Corrective activity seems imminent. It may not be in the form of a major downside, but can occur in the form of rangebound consolidation. 

🎯 News & Impact 🎯

🎯 Unitech :
Trial court dismisses bail plea of Unitech promoters. Trial court remands Unitech promoters to judicial custody till April 20.

🎯 Idea :
Launches data Jackpot, offers upto 10GB data per month for first 3 months. New data offer can be availed by postpaid users via Idea App for Rs.100.

🎯 Galaxy Entertainment :
Enters pact to supply bakery products at retail & corporate accounts of Birdys.
Company to extend operations to supply bakery items to 'Big Bazzar' outlets in Mumbai. New initiative expected to generate Rs. 25 crore per year revenue.

🎯 Dynamatic Technologies :
Signs cooperation agreement with Israels Magal Security Systems. Cooperation pact with Magal to pursue integrated security projects in India.

🎯 Biocon :
Mylan gets US FDA nod for Granisetron hydrochloride injection (used to prevent nausea caused by chemotherapy, radiation).

🎯 Aditya Birla Money :
Circuit filter revised to 10%.

🎯 Vardhaman Special Steel :
Ex-date for rights issue.

🎯 NSE listing - Nagarjuna Agrichem.

🎯 Avenue Supermarkets :
CRISIL upgrades rating from AA- to AA.

🎯 Setco Auto :
CARE reaffirms rating of BBB and A3

🎯 Central Bank :
CARE upgrades rating from AA- to A and from A to A.

🎯 Gokak Textiles :
ICRA revises rating to B and A4

🎯 Deepak Fertilizers :
Subsidiary to acquire majority stake in Performance Chemiserve

🎯 Indian Bank :
Fixed MCLR from 8.15% to 8.9% across various tenors.

🎯 Karur Vysya Bank :
Fixed MCLR from 9.1% to 9.5% across various tenors.

🎯 SML Isuzu : 
Left with inventory of approximately 1800 BS-III vehicles.

🎯 GE Power : 
Gets order worth Rs.237.6 crore to supply CFB boiler and electrostatic precipitator components.

🎯 KDDL : 
Unit Ethos enters into strategic partnership with Nomos Glashutte & Oris SA.

🎯 Gammon Infra : 
Acquired additional 24 percent stake in Indira Container Terminal.

🎯 Avantel :
Approved sale of tangible assets for Rs.18 crore.

🎯 Palred Technologies :
Board meeting on April 11 to consider investment in subsidiaries.

🎯 Cipla :
In global pact with US company for muscle relaxant

🎯 HUL :
To slash up to 15 % jobs.

🎯 Edelweiss :
Arm along with other lenders have dragged Murli Industries to NCLT.

🎯 Voltas : 
Eyes Videocon's home appliances brand Kenstar.

🎯 MEP Infra :
To launch Rs 1,200 crore InViT this month.

🎯 DCB Bank :
Raise Rs 400 crore via QIP.

🎯 SMS Pharma :
Increased investment in VKT Pharma, shareholding now at 41.08 percent

🎯 RBL Bank :
Opens IFSC banking unit at GIFT City.

Edited by Sharp.
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