22nd May, Morning Brief

Today, market is likely to open in green tracking SGX Nifty FUTURES, up 14 points.

On Wall Street, the Dow jumped 141.82 points to close at 20,804.84, the S&P 500 gained 16.01 points to end at 2,381.73 and the Nasdaq Composite added 28.57 points to settle at 6,083.70.

🎯 News & Impact 🎯

Major Results Today :
GAIL, Bank of India, Engineers India, Godrej Industries, SRF, PTC India Financial Services,

🎯 Laurus Labs

US FDA Inspected API Facility Of Unit 2; No 483s Issued

Formulations Facility Of Unit 2 Gets EIR From US FDA On May 18

🎯 Indiabulls Ventures

Subsidiary- Indiabulls Asset Reconstruction (ARC) has been granted the Certificate of Registration (CoR) by the Reserve bank of India

🎯 Mahindra and Mahindra

To invest in high-end electric powertrain technology which will be used for the future line up of electric vehicles

🎯 Cadila Healthcare

NCLT approves the Scheme of Arrangement between Cadila Healthcare Limited and Zydus Healthcare Limited

🎯 Zuari Agro

Integrated Revamp of Ammonia-Urea plants at a cost of approximately Rs 1300 crore capacity will increase from 1350 MTPD to 1800 MTPD

🎯 Hindustan Copper

To manufacture copper cathode, proposed capacity to be 1.0 lakh tonne per annum at an estimated cost of Rs 3025 crore

🎯 SPARC
USFDA denies approval for Elepsia XR

🎯 Bhushan Steel
Wins auction for iron ore mine in Sundergarh district having a reserve of 92 million tonne

🎯 Rcom :
CARE revised the long term facility rating from CARE A- to CARE BB' and the short term facility rating from CARE A2 to CARE A4'

🎯 Goa Carbon
Operations re-start at Goa Plant

🎯 Edelweiss :
CRISIL Limited has assigned a 'CRISIL A1 ' (CRISIL A one plus) rating to the proposed Rs.2000 Crore Short Term Debt Issue

🎯 Adani Sez/ Adani Enterprises
Board meeting May 24 to consider raising funds via various methods

🎯 IDBI Bank
Employee strike on May Rs 23

🎯 PVR
Average Rate Of Tax Was 27% & Around 10%-12% On Food
Expected 18% Tax Rate For Cinemas
In Some States We Had Zero Or Less Than 10% Entertainment Tax.
Expect Tax Rate Fall To Get Set-off Against F&B Tax Rate Hike
Classifying Cinema As Luxury Has Come As A Complete Shocker
Expect First 90 Days Post GST Roll-out To Be Chaotic
At 28% We Hardly Have Any Headroom To Look At Prices
Dont See Sharp Cuts In Prices Of Movie Tickets In Maharashtra.

🎯 Future Group
Aion in talks to buy into future group holding co.

🎯 Fortis Malar, Fortis Healthcare
IHH leads race to acquire singh bros healthcare ops.

🎯 Petronet LNG
Oil ministry may block PSUs buying GDF stake in Petronet.

🎯 Shree Cements
plans to spread in east and invest Rs 2000 crore

🎯 JP Associates/ Ultratech
Both companies plan to seal the deal by July

🎯 GNFC
Co. to roll out neem projects in more states

🎯 Titan, Gitanjali
Both companies under worlds top 10 luxury brands

🎯 Bajaj Auto 
plans to raise sales in FY18.

🎯 Premier Explosives 
board approves QIP of Rs 66 crore

🎯 Bhagiradh Chemicals :
Fire at facility in Andhra Pradesh

🎯 Balasore Alloys 
board approves issuing 3.5 crore warrants to promoters on pref basis

🎯 JSW Energy 
to raise Rs1000 crore through issuance of NCD's

🎯 Chambal Fertilizer 
approved the sale and disposal of the remaining 3 ships/vessels owned by the Company

🎯 Neuland Labs 
entered into Joint development agreement with Phoenix Embassy Techno Zone for development land owned by company in Nanakramguda

🎯 Capital First 
raised Rs 150 crore via debentures

🎯 Deccan Cement 
approves stocks split

🎯 Coromandel
incorporates subsidiary in Nigeria

🎯 Mahindra Holidays 
recommends bonus of 1 share for every 2 held

🎯 Suzlon 
approves enabling resolution to raise up to Rs 2000 crore.

Edited by Sharp.
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