Yesterday, market made another lifetime high and closed at 9624.55 and if the momentum continues, Nifty May hit 9900. But we can't ignore profit bookings on every rise which will make the market dicey.
Today, markets are likely to open on a flat note tracking SGX Nifty.
🎯 News & Impact 🎯
The government will unveil GDP figures for the quarter ended on May 31, post market hours.
RBI calls for account number portability
Customers may soon get to seamlessly switch to another bank with the same account number without losing any transaction details such as credit/debit history all thanks to a push from Reserve Bank of India.
Private banks will be benefitted.
Results Updates :
🎯 Tata Global Beverages :
Cons Net Profit At Rs.84.36 Cr Vs Loss Of Rs.249.6 Cr (YoY).
Cons Total Income 4.7% At Rs. 1,674.26 Cr Vs Rs.1598.35 Cr (YoY).
Positive for the stock. 👍
🎯 MOIL :
Net Profit At Rs.115.8 Cr Vs Rs.21.3 Cr (YoY).
Revenue Up 19.8% At Rs.252.7 Cr Vs Rs.211 Cr (YoY).
Positive for the stock. 👍
🎯 IRB Infra :
Net Profit Up 31.7% At Rs.207.2 Cr Vs Rs. 157.3 Cr (YoY).
Revenue Up 5.9% At Rs.1,627.1 Cr Vs Rs. 1,536.6 Cr (YoY).
Positive for the stock. 👍
🎯 SAIL :
Net Loss At Rs.771 Cr Vs Loss Of Rs. 1,184.6 Cr (YoY).
Revenue At Rs.14,234.2 Cr Vs Rs. 12,761.5 Cr (YoY).
Positive for the stock. 👍
🎯 Jet Airways :
Net Profit At Rs.36.8 Cr Vs Rs.397.16 Cr (YoY).
Revenue 3.1% At Rs.5449.13 Cr Vs Rs. 5285.6 Cr (YoY).
Negative for the stock. 👎
🎯 United Spirits :
Net Loss At Rs.104.2 Cr Vs Profit Of Rs. 1.4 Cr (YoY).
Total Income at Rs.6,485.2 Cr Vs Rs. 5,937.3 Cr (YoY).
Negative for the stock. 👎
🎯 Reliance Communications :
Moody's Investors Service has downgraded Reliance Communications' corporate family rating and senior secured bond rating on account of weak performance and "fragile" liquidity position.
Negative for the stock. 👎
🎯 Berger Paints :
The company has approved purchase of 1,03,03,580 equity shares of Saboo Hesse Wood Coatings.
🎯 OBC :
ICRA revises ratings for bonds to A from AA-.
🎯 Rolta India :
Rolta intends to cancel the listing and trading of its GDRs at London Stock Exchange effective as of June 30, 2017.
🎯 IDBI Bank :
Fitch downgrades Long term IDR to BB from BBB-.
🎯 Mcleod Russel :
Board decided to initiate discussion with Eveready Industries India Limited for participating in a joint venture for development of packet tea business through a separate entity.
🎯 Raj TV :
Brickwork rating has assigned revised as "BWR BBB Outlook Stable.
🎯 Gujarat Gas :
Gujarat gas has entered into a non-binding MoU with Petronet LNG Limited ('PLL') for exploring - dispensing and marketing of LNG including the L-CNG at GGL CNG stations.
🎯 Lyka Labs :
The company says filing of Documents of merger of Lyka Healthcare Limited wholly owned subsidiary with Lyka Labs Limited w.e.f 1st April, 2017.
🎯 Jindal Polyfilms :
The company eyes 300mn$ European ops of JV between Dupont and Japans Teijin (DTF).
🎯 United Spirits Ltd. :
USL to sell properties belonging to Mallya.
🎯 HPCL, IOC, BPCL :
Ministry hires deloitte for oil PSU oil merger.
🎯 Amtek Auto :
Promoters might lose control of Amtek auto.
🎯 Max Financial :
HDFC lifes to approach IRDAI with new merger plan.
Positive for the stock. 👍
🎯 Tech Mahindra :
IT employee union files complaint against Tech Mahindra.
🎯 Adani Enterprises :
Adani enterprises reaches royalty deal with Australian govt.
🎯 Cadila healthcare :
Cadilahc plans 1000cr QIP.
🎯 Piramal enterprises :
Piramal structured finance arm invests Rs. 565 in two auto pars firms.
Edited by Sharp.
© Sharp Investment & Financial Advisers
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