23rd May, Morning Brief

SGX Nifty trading 25.50 points up, indicating a positive start for market today.

🎯 News & Impact 🎯

Results Updates :

🎯 Godrej Industries :
Cons Net Profit At Rs.95.2 Cr Vs Loss Of Rs.57 Cr (YoY).
Cons Revenue Up 6.9 % At Rs.1,982 Cr Vs Rs.1,854.2 Cr (YoY).
Positive for the stock. 👍

🎯 GAIL :
Net Profit Down 68.7 % At Rs.260.2 Cr Vs Rs.832.1 Cr (YoY).
Revenue Up 15.9 % At Rs.13,674.1 Cr Vs Rs.11,802.4 Cr (YoY).
Exceptional Loss On Impairment Provision At Rs.788 Cr.
Negative for the stock. 👎🏻

🎯 SRF :
Cons Net Profit Up 15.7 % At Rs.129.2 Cr Vs Rs.111.7 Cr (YoY).
Cons Revenue Up 19.7 % At Rs.1,416.4 Cr Vs Rs.1,183.3 Cr (YoY).
Cons Other Income At Rs 25.9 Cr Vs Rs 11.4 Cr (YoY).
Positive for the stock. 👍

🎯 Corporation Bank :
Public sector lender Corporation Bank said its board has approved plans to raise capital up to Rs 3,500 crore. 

🎯 Tata Power: The company on Monday said total generation from all its power plants crossed 52,000 million units last fiscal. Its consolidated generation through all subsidiaries stood at 52,512 million units (MUs) in 2016-17 as compared to 47,347 MUs in the previous fiscal. 

🎯 Karnataka Bank :
MOU with Life Insurance Corporation of India (LIC) for life insurance business to sell its insurance policies at the branches.

🎯 Prakash Industries :
Issuance of New FCCBs.

🎯 MT Educare :
Subsidiary Lakshya Educare, has been sanctioned a long term debt facility from Xander Finance (Xander) of Rs.110 crore.

🎯 SCI :
Has given physical delivery of its 1 container vessel m.v. Indira Gandhi' to its buyer.

🎯 Adani Enterprises :
Company to delay decision on Australis mine

🎯 Clarient Chemical :
Swiss group Clariant (global parent) announced an all-stock deal to merge with the US-based Huntsman Corp.

🎯 ENIL :
discontinued the operation of FM Radio Station at Panaji, Goa

🎯 VST Tillers :
Launches 2 new tractors

🎯 MEP Infra :
entered into concession agreement with NHAI for Four Laning of Mahuva to Kagavadar of NH-8E from km 100.100 to km 139.915.

🎯 Bharti Airtel, Idea Cellular : 
Reliance Jio has filed a complaint with the telecom ministry alleging that incumbents Bharti Airtel, Vodafone and Idea did not deposit requisite licence fee in March, which led to a potential loss of Rs.400 crore to the government. 

🎯 Kotak Mahindra Bank : 
Kotak Mahindra Bank founder Uday Kotak sold 1.80 crore of the bank's shares in the open market, enabling him to comply with the Reserve Bank of India direction to reduce his stake in the private sector lender to less than 30 per cent. 

Edited by Sharp.
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