1st June, Morning Brief

India's GDP growth in 2016-17 is slowest in two years. It was 8 per cent in 2015-16 and 7.5 per cent in the previous year. 
Market may react over the lower GDP and in order to get the upward moves healthy and sustainable, some minor corrective action looks imminent and long overdue. 
9350 will be the support to re-enter into the rally if you are sitting on cash.

Market may open in red tracking SGX Nifty today.

🎯 News & Impact 🎯

🎯 Aurobindo & Glenmark :
USFDA approves first generic version of Strattera (atomoxetine) to treat attention-deficit/hyperactivity disorder (ADHD) in pediatric and adult patients.
Positive for the stock. 👍

🎯 Lanco, Bajaj Energy, Welspun Energy, Parikh Aluminax, Unitech Machines, Creative Thermolyte :
UP government cancels power purchase agreements of 7 power projects of 7,040 MW capacity.
Negative for the stocks. 👎

🎯 Rcom :
Capital International sold entire stake in Rcom via block deal on Wednesday.
Negative for the stock. 👎

🎯 Dr Reddy's Lab :
Dr Reddy gets US FDA nod for Bivalirudin injectable (a specific & reversible direct thrombin inhibitor).
Positive for the stock. 👍

🎯 MOIL :
MOIL increases prices by 10 percent across categories.
Positive for the stock. 👍

🎯 Jet Airways, InterGlobe Aviation, Spicejet :
Jet fuel prices cut by (3.8 percent) Rs 1,981/kl in Delhi.
Positive for the stocks. 👍

🎯 Kolte Patil Developers :
Kolte Patil completes Phase I of its Three Jewels' project in Pune in 36 months.
Positive for the stock. 👍

🎯 Bharat Gears :
Bharat gears considered and approved the proposal to avail a term loan of Rs 110 crore from KKR India Financial Services.

🎯 RK Forgings :
The company to raise funds through QIP for an amount not exceeding Rs 200 crore.

🎯 JK Paper :
JK Paper to consider allotment of equity shares of the company consequent to conversion notices received from one of the foreign currency convertible bonds (FCCBs) holder.

🎯 Pfizer :
The company entered into an acquisition agreement with AstraZeneca AB, Sweden to which the brand 'Neksium' is being acquired by the company in India for a consideration of Rs 75 crore.
Positive for the stock. 👍

🎯 Future Market Network :
The co has executed a share purchase agreement with IL&FS Township and Urban Assets (ITUAL) to acquire 50 percent equity share capital.

🎯 HDIL, Oberoi Realty, Godrej Properties :
Realty buyers in Maharashtra to now pay VAT on staggered payments.
Negative for the stocks. 👎

🎯 IOC :
IOC and partners in talks to buy stake in Russias Van kor

🎯 Abirla Fashions :
ABFL to cut price points, to focus on value chain.

🎯 Hindalco :
Hindalco to set up aluminium plant for defence sector.

🎯 Tata Group :
Tata Sons Chairman Natarajan Chandrasekaran kicks off divestent plan.

🎯 SBI :
SBI keeps interest rates under MCLR Unchanged.

🎯 Vedanta :
Vedl gets environment nod for Rs 3,240 crore Ravva field expansion.
Positive for the stock. 👍

Edited by Sharp.
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