25th May, Morning Brief

Market is likely to open in green tracking SGX Nifty up by 32 points.
Yesterday Nifty has taken it's crucial support above 9300 level and if not broken on closing basis, a good upmove can be seen in coming days.

🎯 News & Impact 🎯

Results Updates :

🎯 Dish TV :
Cons Net Loss At Rs.28.3 Cr Vs Profit Of Rs.482.8 Cr (YoY).
Cons Revenue Down 11.3 % At Rs.708.6 Cr Vs Rs.799.3 Cr (YoY).

🎯 Adani Enterprises :
Cons Net Profit Up 72.3 % At Rs.218.8 Cr Vs Rs.127 Cr (YoY).
Cons Revenue Up 49.6 % At Rs.12,195.1 Cr Vs Rs. 8,151.2 Cr (YoY).

🎯 Jain Irrigation :
Net Profit Up 24 % At Rs.77.6 Cr Vs Rs. 62.6 Cr (YoY).
Revenue Up 10 % At Rs.2,286 Cr Vs Rs. 2,086 Cr.

🎯 Major Results Today :
Nearly 200 companies will announce their results today.
Bosch, Britannia, Cipla, Indian Oil, NMDC.

🎯 Modi government abolishes 25-year-old FIPB :
The Cabinet approved dismantling of the two-decade-old Foreign Investment Promotion Board (FIPB) and defined a new mechanism to approve overseas investment applications and hasten fund flows.
The responsibility of handling FDI proposals will now be left only to a single ministry and the concerned sector regulator to handle foreign investment in sectors that need government nod.
Positive for Retail, Insurance & Infra.

🎯 HCL-Tech :
HCL Tech to buyback stock at 17% premium for Rs 3,500 Cr.

🎯 SBI :
Countrys largest lender, State Bank of India (SBI) has put up assets worth over Rs 1,471 crore for sale to asset reconstruction companies (ARCs).
Companies involved are Adhunik Power & Natural Resources.

🎯 Strides Shasun :
The company has got approval of the US regulator for its Memantine Hydrochloride tablets to treat Alzheimer's-type dementia, said the company on Wednesday. 

🎯 NHPC :
NHPC said that the company's board of directors in its meeting scheduled to be held on May 30, 2017 will consider the proposal for raising of Rs 1,756 crore through issuance of 'W' series corporate bonds on private placement basis. The proposed issue is out of Rs 4,500 crore already approved by the shareholders in 40th Annual General Meeting held on September 22, 2016. 

🎯 Bharat Financial :
Global brokerage house Credit Suisse upgraded Bharat Financial to ‘Outperform’ from ‘Neutral’ and also raised the target price to Rs 800 from Rs 760. 

🎯 Jaiprakash Power :
Calls a meeting to restructure old bonds.
Asks to waive all current bond defaults.
Cabinet approves 10.6 % increase in FRP for sugarcane for 2017-18.

🎯 M&M :
Welcome Cabinet move, its in line with global practice.
Policy for FDI in defence is rational & well structured.
M&M has natural strength in aerospace & armoured vehicles.
See opportunities of Rs 20,000-50,000 crore in every sector.

🎯 Lupin :
USFDA has issued 6 observations on Lupins Indore plant.
USFDA inspected Indore plant between May 819, 2017.
Cautious on stock.

🎯 Tata Motors :
Axes 1500 managers.

🎯 Idea / Bharti Airtel / Vodafone :
TRAI firm on decision to penalize Big 3 for Choking POI to Jio.
Negative for the stocks.

🎯 Hitachi :
Johnson Hitachi plans to export from India.

🎯 SORIL infra (Indiabulls Group):
To enter LED lighting biz.

🎯 Ashoka Buildcon :
Raising equity through QIP etc.

🎯 Sarla Performance Fibers :
Board meeting on May 27 to consider buyback.

🎯 Kalpataru Power :
To issue NCD worth Rs 100 crore :
Axes 1500 managers.