9th May, Morning Brief

Yesterday, Nifty attempted to find a base at the previous day’s low, but also left enough signs to suggest that the ongoing phase of consolidation is likely to continue for a longer time and no runaway rise is likely in the market. However, the 9,250 and 9,270 levels are likely to act as support for the ongoing consolidation. 9,375 level will continue to act as major resistance for the Nifty and may also act as a breakout if closes marginally on higher side.

Market may open positively tracking SGX Nifty which is up by 12 points.
Asian markets Hang Seng and STI were trading higher by 8 points and 82 respectively, in morning trade, while Nikkei and SSE was down by 32 points and 1 point respectively. 

🎯 News & Impact 🎯

🎯 S Chand listing today.

🎯 Bharti Infratel :
Cons Net Profit Down 3.8 % At Rs.596.6 Cr Vs Rs.620.4 Cr (QoQ).
Cons Revenue Up 3.5 % At Rs.3,520 Cr Vs Rs.3,400.7 Cr (QoQ).

🎯 ABB :
Net Profit Up 3.2 % At Rs. 88.2 Cr Vs Rs. 85.5 Cr (YoY).
Total Income Up 9.2 percent At Rs. 2,318.8 Cr Vs Rs.2,123.6 Cr (YoY).
Orders Up 28 % At Rs.2,342 Cr Vs Rs. 1,830 Cr (YoY)
ABB Says Order Backlog As On March 31 At Rs.12,023 Cr.
Positive for the stock. 👍

🎯 Union Bank :
Net Profit Up 12.6 % At Rs.108.2 Cr Vs Rs. 96.1 Cr (YoY).
NII Up 14.5 % At Rs.2,387 Cr Vs Rs. 2,084.7 Cr (YoY).
Provisions At Rs 2,444.1 Cr Vs Rs 1,670.1 Cr (QoQ) Vs Rs 1,564.7 Cr (YoY).
Positive for the stock. 👍

🎯 Nocil :
Net Profit Up 13.3 % At Rs.25.5 Cr Vs Rs 22.5 Cr (YoY)
Total Income Up 7.4 % At Rs.190.8 Cr Vs Rs.177.7 Cr (YoY).
Positive for the stock. 👍

🎯 Pokarna :
Cons Net Profit At Rs.17.9 Cr Vs Rs. 5.6 Cr (YoY)
Cons Total Income Down 2.7 % At Rs 100 Cr Vs Rs 102.8 Cr (YoY).
Approves Splitting Each Rs 10 Share Into Five Of Rs 2 Each.
Positive for the stock. 👍

🎯 Eros International :
The company signs TV syndication deal with Zee.

🎯 Torrent Pharma :
Signs asset sale deal with Torrent Pharma to sell brand regestrone including intellectual property right to Torrent. The pharma company has completed the acquisition of Regestrone and Pregachieve brands in India from Swiss drug major Novartis AG. The two brands are widely prescribed by gynaecologists for the management of abnormal uterine bleeding, post menopausal symptoms and infertility.
Positive for the stock. 👍

🎯 Auropharma :
Aurobindo Pharma's Hyderabad Unit 4 Issued Form 483 With 7 Observations.
US FDA Observations :
Buildings Used In Mfg Of A Drug Product Not Maintained In A Good State.
Negative for the stock. 👎

🎯 Laurus Labs :
Natco launches generic version of Sofosbuvir 400 mg/ Velpatasvir 100 mg in India, wherein the net profit of the sale of this Hepatitis C related product is shared between Natco and Laurus.

🎯 Tata Sponge :
Environment Clearance Granted for Enhancement of DRI Production from 3,90,000 TPA to 4,25,000 TPA

🎯 Punjab & Sind Bank :
Allotment of Basel-III compliant Additional Tier-1 Bonds with coupon of 10.90 % p.a. on Private Placement basis.

🎯 Lloyd Electrical :
Havells completes buyout of Lloyd Electrics consumer durable ops.

🎯 Akzo Nobel :
 On Monday rejected a third takeover proposal from PPG Industries.

🎯 Smartlink Network :
The company has made an additional investment of Rs 1 crore in its wholly owned subsidiary Telesmart SCS.
Positive for the stock. 👍

🎯 Fortis Healthcare :
Promoters eye Rs.250 per share for Fortis deal.

🎯 Claris Life :
Co. To sell 20 % stake in JV to partner Otsuka for USD 20 m.
Positive for the stock. 👍

🎯 Ramky Infrastructure : 
The company on Monday said it has won a Rs 337 crore highway project in Jharkhand from National Highways Authority of India. 
Positive for the stock. 👍

🎯 IOC :
In early talks with Aramco for downstream project.

🎯 GVK GMR:
Airport charges likely to go up after AERA Revision.

🎯 Emami :
Aims to acquire brands in Africa.

🎯 Skipper: 
The company said it has been certified by The Equipment and Materials Test Laboratory (LAPEM). With this certification, Skipper now gets an entry into the highly potential Mexican Power Transmission market. 

🎯 GM Breweries : 
GM Breweries turns ex-dividend on Tuesday, for dividend of Rs 3 per share for the year ended March 31, 2017.

Edited by Sharp.
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