Markets likely to open on a negative note with positive bias.
Following are the factors which may impact the movement if the market in coming week.
👉The government will release the biggest economic indicator numbers – GDP (gross domestic product) data for the fourth quarter of 2017.
The GDP data will be a major factor in deciding market movement. The numbers will mirror the actual progress made by the Modi government.
👉Market Economics is slated to announce the India Manufacturing Purchasing Managers' Index (PMI) data for May 2017 on Thursday, June 1, 2017. The Nikkei Manufacturing PMI in India stood at 52.5 in April 2017, the same as in March.
👉The arrival of monsoon rains and its progress will be watched closely. The Indian Meteorological Department (IMD) on Tuesday projected that monsoon rains could be ‘normal’ this year and bring 100 per cent rainfall instead of 96 per cent projected earlier.
👉The correction, which was much anticipated, arrived swiftly and sharply, especially in the midcap and smallcap space, making the foundation of the Nifty50 to move higher. Although, the market did not go below the 9,300 level which can be considered as a good support.
🎯 News & Impact 🎯
Results Updates :
🎯 Mahanagar Gas :
Net Profit 17.9% At Rs.99.5 Cr Vs Rs.84.4 Cr (YoY).
Revenue 2.3% At Rs.589.4 Cr Vs Rs.576 Cr (YoY).
Positive for the stock. 👍
🎯 Tech Mahindra :
Cons Net Profit 30.2% down At Rs.589.7 Cr Vs Rs.845 Cr (QoQ).
Cons Revenue Down 0.8% At Rs.7,495 Cr Vs Rs.7,557.5 Cr (QoQ).
Board Announces Dividend Of Rs.9/Share.
Negative for the stock. 👎
🎯 Sun Pharma :
Net Profit At `1,223.7 Cr
Revenue At `7,136.96 Cr
Negative for the stock. 👎
🎯 ONGC :
Net Profit Down 0.3% At Rs.4340.2 Cr Vs Rs. 4352.3 Cr (QoQ).
Revenue Up 8.5% At Rs. 21,714 Cr Vs Rs. 20,014 Cr (QoQ).
Negative for the stock. 👎
🎯 Divis Labs :
Net Profit At Rs.259.29 Cr. Vs Rs.322 Cr (YoY).
Revenue At Rs.1,066 Cr Vs Rs.1103.4 Cr (YoY).
Board Announces Dividend Of Rs.2 per share, i.e, 500%
Cautious on the stock.
🎯 Sun TV :
Net Profit At Rs.235.9 Cr Vs Rs.235.5 Cr (YoY).
Total Income Up 0.2% At Rs.582.5 Cr Vs Rs.564.97 Cr (YoY).
Positive for the stock. 👍
🎯 Adani Power :
Net Loss At Rs.4,960.5 Cr Vs Profit Of Rs. 1,085.1 Cr (YoY).
Revenue Down 16.9% At Rs.6,352.2 Cr Vs Rs.7,645 Cr (YoY).
Negative for the stock. 👎
🎯 PSP Projects - New Listing.
🎯 EID Parry :
Crisil upgrades rating to AA-/stable.
🎯 Igarshi Motors :
Board approves bonus issue.
Positive for the stock.
🎯 Balkirshna Paper Mills :
To raise funds to the tune of Rs.25 Crores by issuing 25,00,000, 9% Cumulative redeemable Preference Shares of face value of Rs.100 each.
🎯 Bank of Baroda :
To raise additional 9000cr, 6000cr through equity capital and 3000cr through tier 1 bonds.
🎯 Jindal Stainless Steel :
Alloted 6 crore shares to lender of the co at conversion price of 39.
🎯 CG power :
The company has received an Offer for acquisition of the Company's power business in United States of America, comprised in its subsidiary, CG Power Systems USA Inc (PSUS).
Positive for the stock. 👍
🎯 Mercator :
The company has been awarded a contract by the New Mangalore Port Trust for maintenance dredging at New Mangalore Port for a period of three years. The value of the Contract is Rs.98 Crore.
🎯 Brookfiled:
In talks to buy Towers of idea and Vodafone at an EV of 6454cr Rs.
🎯 RCom :
Trips on loan servicing with over 10 domestic lenders.
🎯 BALCO :
Balco working on a plan to enhance capacity.
🎯 Indian Hotels :
Bankers value taj hotel at 1000cr , Bids for Mansingh may go up to Rs. 3000 cr.
🎯 Tata Communications :
Tata Teleservices net worth erodes by 11.650cr.
🎯 Torrent Pharma :
Truns sales focus to brazil, Germany.
🎯 Raymond :
The company lines up 350cr Expansion plan.
🎯 Ashok Leyland :
Ashok Leyland has 3 pronged approach for electric buses.
🎯 SAIL :
Salem unit sale hits a roadblock.
🎯 IOC :
IOC seeks 2700 acres to expand Paradip petrochem Project.
🎯 JSPL :
Completes Construction 4 mtpa Blast Furnace In Odisha.
Edited by Sharp.
© Sharp Investment & Financial Advisers
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