24th May, Morning Brief

Market may open positively as SGX Nifty trading up by 11 points.

🎯 News & Impact 🎯

Results Updates :

🎯 Tata Motors :
Cons Net Profit Down 17 % At Rs.4,296 Cr Vs Rs.5,176 Cr (YoY).
Cons Revenue Down 2.6 % At Rs.78,747 Cr Vs Rs.80,868 Cr (YoY).

🎯 Novartis :
Net Profit Down 87.3 % At Rs. 2.9 Cr Vs Rs. 22.8 Cr (YoY).
Revenue Down 14.3 % At Rs.160.3 Cr Vs Rs.187.1 Cr (YoY).

🎯 Voltas 
enters into JV with Ardutch B.V. (a subsidiary of Arelik A.S.; part of the Ko Group Turkeys largest industrial and services group)

🎯 Videocon
Says Crash in stock price due to classification of NPA by Dena Bank
CCI approves amalgamation of Videocon D2H with Dish TV
CCI approves acquisition of up to 6.02 percent stake by Aceville in Flipkart

🎯 JHS Svendgaard
Conversion of 4.4 lakh warrants into equity shares allotted on preferential basis

🎯 TV Today Network
Migration from Phase II to Phase III of 3 FM radio stations

🎯 Mangalore Chemicals & Fertilizers
CARE has revised the Long Term Rating to BBB Stable from BBB-;Stable and Short Term Rating to BBB from BBB-

🎯 Cerebra Integrated Technologies
Karnataka State Pollution Control Board has issued its consent to start production for its E-Waste recycling plant setup on a 12 acre land

🎯 AIA Engineering
Magotteaux initiates arbitral proceedings against co. demands $60 million in damages

🎯 SBI
Bank set to finalise six I-banks to manage Rs 10000 crore fund raising

🎯 SAIL
SAIL Arcelor Mittal JV may be sealed this month says Union Steel minister

🎯 HDFC
HDFC life gears up for IPO as Max meger delayed

🎯 ABFRL
Co. partners with KVIC to sell khadi products

🎯 JK Paper
Plans Rs 650 crore for investment
To raise USD 5mn from IFC GAIL, NTPC

🎯 IDBI Bank
ICRA dowmngrades banks debt ratring

🎯 GAIL, NTPC
RGPPL demerger: GAIL to own LNG terminal, NTPC to get power plant.
Gail said it has drawn up investment plans of Rs 30,000 crore for expansion. 

🎯 Voltas
Forms USD 100mn JV with Ardutch

🎯 Infosys
Adopts new character to address investor concerns.

🎯 Dion Global launches Integrated Wealth Management and Trading Platform

🎯 JB Chemicals & Pharmaceuticals approves the buy-back of up to 12,50,000 (1.47 percent of equity)

🎯 Karnataka Bank 
ties-up with HDFC Capital Asset Management (HDFCAML) for mutual fund business

🎯 Bambino Agro sale of fixed assets including plant & machinery at Indore, Madhya Pradesh and at Bibinagar, Telangana.

🎯 Sunteck Realty: Sunteck Realty informed bourses that a meeting of the board of directors of the company will be held on June 08 to consider sub-division (split) of the face value of the equity shares of the company, subject to approval of members. 

Glenmark Pharma: Global brokerage house Morgan Stanley downgraded Glenmark Pharma to 'Equal Weight' from 'Overweigh' and cut the target price of shares to Rs 706 from Rs 1146.