30th June, Morning Brief

Market will open with gap down as SGX Nifty is trading 42 points lower at 9487.
Yesterday, Nifty came under pressure in afternoon trade and slipped below its crucial short-term moving averages such as 5-days exponential moving average (DEMA), 10-DEMA, and 20-DEMA. It made an inverted hammer pattern on the daily chart.
For last three trading sessions, Nifty50 appears to take support around 9470 levels which is close to its 50-day Exponential moving average.

🎯 News & Impact 🎯

🎯 CDSL : Listing today.

🎯 Indigo :
IndiGo will become a global player if it acquires Air India.
IndiGo shows interest in buying Air India's international operations or domestic operations.
IndiGo also interested in buying AI's entire flight operations along with domestic operations.
Positive for the stock. 👍

🎯 Abirla Money :
Azim Premji Invest buys 2.2 % (worth Rs. 704 crore) in Aditya Birla Capital a wholly-owned subsidiary of Aditya Birla Nuvo.
Positive for the stock. 👍

🎯 Reliance :
 Jio launches submarine cable system, to stretch over 25,000 km from France to Honk Kong.
Positive for the stock. 👍

🎯 Kesoram Industries: 
The company is looking at increasing its industrial footprint in the eastern region of the country after the buy-back of spun pipe and the heavy chemicals businesses from Camden Industries Ltd. 
Positive for the stock. 👍

🎯 ITC :
ITC's stated leadership ambition in India’s packaged foods business inched a step closer to reality last year, with a 13 per cent increase in sales closing the revenue gap between cookies giant Britannia and the century-old conglomerate that ranks third on the industry’s leader-board. Four years after ITC raced past HUL in the overall foods business, the cigarette company evidenced its makeover into a diversified group through double-digit growth in the consumer foods business, which crossed the Rs 8,000-crore revenue mark in the fiscal ending March 2017. 
Positive for the stock. 👍

🎯 ICICI Bank , SBI, IDBI Bank, Yes Bank, IndusInd Bank : 
An association of lenders led by ICICI Bank would be able to write back Rs. 3,000 crore of provisioning they had made against bad loans after Ultratech Cement completed the takeover of Jaiprakash Associates’ cement business just a day before the end of the quarterly accounting period. Banks including ICICI, State Bank of India, IDBI Bank, Yes Bank and IndusInd Bank had to set aside money against the outstanding loan to the financially stressed Jaypee Group business as the deal got delayed. They would now be able to write back the amount, boosting their June-quarter earnings, analysts said. 
Negative for the stocks. 👎

🎯 Real estate stocks :
The government on Thursday hiked the GST rate for the construction sector to 18 % from 12 %, but removed land value from computation of tax liability. 
Negative for the stocks. 👎

🎯 Omax Auto :
India Ratings and Research has affirmed the long-term issuer rating at A- and revised the company's outlook to negative from stable.
Negative for the stock. 👎

🎯 Fortis Healthcare :
NCLT differs SRL demerger decision.
Negative for the stock. 👎

🎯 Rcom :
Reliance Communications seeks to give up spectrum worth Rs 340 crore.
Negative for the stock. 👎

🎯 SRF :
SRF to issue non-convertible debentures (NCDs) worth Rs.300 Crore.

🎯 Time Techno :
Company launches composite cylinders for automotive CNG.

🎯 Arihant Superstructures :
Board approves raising of funds upto Rs. 300 crore via GDR/ADR/FCCB/QIP.

🎯 Bhartiya International :
Company allots 7 lakh warrants to non promoter group at Rs 590 per share

🎯 Maharashtra Seamless :
ICRA revises long term rating to stable from negative on working capital loans

🎯 ONGC : 
ONGC scraps pacts with 2 oilfiled services companies.

🎯 JSW Steel :
Company proposes Rs 2,100 crore pipeline project.

🎯 Jyoti Structure :
NCLT to rule on Jyoti Structure insolvency case on Monday.

Edited by Sharp.
© Sharp Investment & Financial Advisers

29th June, Morning Brief

Markets is likely to open on a positive note following SGX Nifty.
The index witnessed a breakdown on charts this week as Nifty50 slipped below its crucial support level of 9,500. A technical bounce back cannot be ruled out from current levels but the bullish momentum will continue once Nifty50 surpasses 9,590-9610 levels' zone.

🎯 News & Impact 🎯

🎯 Eris Lifesciences :
Listing today.

🎯 Cabinet approves 7th Pay Commission recommendations on allowances effective July 1, 2017. The revised allowances under the Seventh Pay Commission (7CPC) will be around Rs 30,748 crore a year.
Beneficial for Thomas Cook, Cox & King, Maruti, Relcapital, HDFC.

🎯 Corporation Bank : 
Corporation Bank said it has got shareholders’ nod for raising up to Rs.3,500 crore through share sale.
Positive for the stock. 👍

🎯 UCO Bank :
State run lender UCO Bank, which is planning to raise Rs 3,000 crore capital in the current fiscal, is hoping to turn profitable in the next financial year.
Positive for the stock. 👍

🎯 RCF :
Govt Will Divest 5% Stake In RCF
Floor Price For RCF Stake Sale Set at Rs. 74.25/Share.
Positive for the stock. 👍

🎯 Godrej Industries :
Godrej Industries to sell 400cr worth of shares in Godrej Agrovet IPO. Godrej ind. owns 60.8 % in Agrovet, which is in businesses such as agri-inputs, animal feeds, palm oil manufacturing, dairy and poultry. 
Positive for the stock. 👍

🎯 Fortis Healthcare :
Gets Shareholders' Nod To Hike FII Holding Limit To 74% Of Paid-up Eq Capital.
Positive for the stock. 👍

🎯 Rcom :
Anil Ambani group Asset sale picks up pace.
Positive for the stock. 👍

🎯 Amtek auto :
Bharat Forge, Sona koyo, blackstone in race to buy all or parts of group cos.
Positive for the stock. 👍

🎯 Axis Bank: Private sector lender Axis Bank has raised Rs.3,500 crore by issuing debt securities on a private placement basis. 

🎯 Mindtree :
Approves Buyback Up To Rs. 270 Cr.
Board Approves Buyback For Up To 43.2 Lk Shares At Maximum Rs.625/Share.

🎯 Bhushan Steel :
BM on July 5th to approve results.

🎯 JSW Holdings :
Company plans to lend more to Jindals wife own entity.

🎯 L&T :
Westinghouse to resume designing on $20bn N-Plants.

🎯 Adhunik :
Lenders refer Adhunik Metaliks to NCLT

🎯 HPCL :
Hind Petro to raise 500mn$ thgough dollar bonds.

🎯 Tata Steel :
Tata steel subsidiary Tinplate seeks to undertake business on its own.

🎯 Piramal Enterprises :
Shriram Capital Board Approves Appointment Of Rajesh Laddha As MD,CEO.

Edited by Sharp.
© Sharp Investment & Financial Advisers

28th June, Morning Brief

Market will open on negative note tracking SGX Nifty which was down by 23 points. Market may remains volatile ahead of derivative contracts' expiry of the June month.
Nifty witnessed a breakdown on charts as Nifty slipped below 9,500 in intraday trades, but bulls managed to push it above the crucial support level towards the close of the trade. As long as Nifty holds below 9,560 zone, weakness could prevail towards 9,480 and 9,450 while on the upside 9,580-9,600 zone is likely to act as a strong barrier on the immediate basis.

🎯 News & Impact 🎯

🎯 SBI: The nation’s largest lender SBI on Tuesday ruled out the additional provisioning towards the 12 largest NPA accounts which have been referred to insolvency proceedings denting the bottomlines very hard as most of the provisioning has already been done. 
Positive for the stock. 👍

🎯 Federal Bank :
Private lender Federal Bank on Tuesday raised Rs 2,500 crore through qualified institutional placement (QIP) route to fund its expansion plan.
Positive for the stock. 👍

🎯 TCS : 
The IT firm on Tuesday announced that TMX Group awarded TCS, the implementation of a single, integrated technology platform for Canada’s clearing and settlement businesses. The innovative platform, called TCS BaNCS for Market Infrastructure, will replace the legacy systems deployed by The Canadian Depository for Securities Limited (CDS) and Canadian Derivatives Clearing Corporation (CDCC), subject to regulatory approval where required. Technology integration across TMX Group's cash and derivatives clearing businesses is the next significant step in the company's evolution as a premier client-driven solutions provider to the Canadian and global capital markets. 
Positive for the stock. 👍

🎯 ONGC :
ONGC gets green nod to explore shale gas in KG basin.
Natural gas may be included in GST, which may benefit ONGC.
Positive for the stock. 👍

🎯 ABG Shipyard :
Liberty House in talks to buy in ABG Shipyard.
Positive for the stock. 👍

🎯 Cadila Healthcare :
The company aims to double US business in 3 years.
Positive for the stock. 👍

🎯 Country Club :
Board approves to sell off assets to reduce debt, current debt at Rs 407 crore (market capitalisation Rs 27 crore).
Positive for the stock. 👍

🎯 Fortis Healthcare :
Fortis’ diagnostic arm SRL is likely to list on bourses by August. 
Positive for the stock. 👍

🎯 Mindtree : 
Mid-tier IT firm Mindtree will consider the proposal of share buyback on Wednesday. 

🎯 Omax Autos : 
The company on Tuesday announced that it has closed manufacturing activities in its unit named Automax (A unit of Omax Autos Limited) situated at Delhi-Jaipur Highway, wef June 24, June 2017.

🎯 Sangam Advisors :
Sangam advisors has been awarded letter of award by Maharashtra State Power Generation Company for design, manufacturing and commissioning 2MV grid interactive solar plant.

🎯 OnMobile Global :
The company has secured a 3-year deal with Banglalink, one of the leading digital communications services providers of Bangladesh to provide Ringback Tones & Reverse Ringback Tones to its customers.

🎯 Arrow Greentech :
DSP Blackrock buys 4.7 lakh shares of Arrow Greentech at a price of Rs.530. 

🎯 Coal India :
Coal India receives high re-auction realisations in June.

🎯 Raymond :
Raymond to invest Rs 1,400 crore in its Maharashtra plant.

🎯 Ashok Leyland :
Ashok Leyland to focus on commercial vehicle business.

🎯 Jagran Prakashan :
Blackstone exits Jagran Prakashan.

🎯 Godrej Consumer Products :
Godrej Consumer products eyes acquisition in skincare segment.

🎯 Ibrealty :
Indiabulls real estate acquires entire minority stake of 10.08 % in unit Indiabulls Infraestate for Rs.358 crore.

🎯 Federal Bank :
Federal Bank QIP closes on Tuesday; QIP issue price at Rs.116 per share.

🎯 Capital First :
Capital First raises Rs.50 crore via issue of non-convertible debentures on a private placement basis.

🎯 Heromotoco :
LIC cuts stake in Hero Motocorp by 2.03 % to 5.14 %.

Edited by Sharp.
Sharp Investment & Financial Advisers

27th June, Morning Brief

Market will open on positive side tracking SGX Nifty. Maximum Put open interest concentration is around strike price 9,500 and maximum Call open interest concentration is around strike price 9,700. Nifty has a very good support around 9550 and it will be breached on the closing basis, more lower side upto 9380. Even a trending support also comes at 9570.

🎯 News & Impact 🎯

🎯 Tejas Networks - New listing.

🎯 Grasim :
July 20 is record date for demerger of financial services from Grasim.
7 shares of Aditya Birla Capital for 2 shares of Grasim.

🎯 Reliance :
Reliance will seek shareholder’s approval to issue redeemable non-convertible debentures on private placement basis to raise Rs 25,000 crore.

🎯 Nocil :
Board approves to sell 4,71,015 shares of Navin Fluorine worth Rs.141 crore.
Cash on balance sheet is Rs 121 crore.

🎯 Sterlite Technologies :
Selected as master system integrator for the Kakinada smart city project.
To design, build & manage Kakinada smart city over next 6 years.
Will supply equipment for command center, CCTV, wifi and other electronic equipment.

🎯 Cadila Healthcare :
Board approves raising fund up to Rs. 10,000 crore via QIP/ADR/GDR.
Board approves issuing NCDs, FCBs up to Rs 3,500 crore via private placement.
Zydus gets US FDA nod for hepatitis-B drug, Entecavir tablet.
Positive for the stock.

🎯 Natco Pharma :
gets US FDA nod for Azacitidine powder (used to treat myelodysplastic syndrome).
Positive for the stock.

🎯 Auropharma :
US FDA completes inspection of Aurobindo Pharma's unit 7.
US FDA issues zero observations to Aurobindo Pharma's unit 7 which is one of the largest facilities for Aurobindo Pharma.
Positive for the stock.

🎯 Amtek Auto :
Board discussed issue of company falling under Insolvency & Bankruptcy Code.
John Flinhtham and Sanjiv Bhasin appointed President.

🎯 Bajaj Hindustan :
Company's joint lenders forum (JLF) decided that company's loan account to be taken up under S4A Scheme.
Proposal for sale of co-generation power business shelved.
Bankers to evaluate & formulate plan for resolution as per S4A scheme.

🎯 Infosys :
Audit committee did not find any evidence of wrong doing whatsoever.

🎯 JSW Steel :
To consider raising additional long term resources through issuance of NCDs with warrants convertible into equity shares and/or equity shares and/or convertible warrants, by way of a Qualified Institutional Placement and issuance of FCCBs, ADRs, GDRs, warrants or convertible instruments in course of an international offering. 

🎯 Endurance Technology :
Crisil upgrades long term rating to AA/stable from AA-/positive.

🎯 Uco Bank :
ICRA revises on tier II bonds to A from AA-.
Positive for the stock.

🎯 LT Foods :
inaugurates rice plant at Rotterdam, Netherlands with capacity of 60,000 tonnes.

🎯 Hind Petro :
HPCL joins talks to buy stake in Russian oil fields.

🎯 SAIL :
Steel authority eyes South Africa, Canada for coal import.

🎯 Adhunik Metals :
To plead insolvency.
Negative for the stock.

🎯 HDFC :
Seeks shareholders nod for Rs 18,000 crore fund raising.

🎯 ONGC :
ONGC mulls using GSPC's undersea infra to produce gas from KG-Basin fields.

🎯 Syndicate Bank :
Syndicate bank gets shareholders' nod for raising capital worth Rs 3,500 crore.

🎯 Capital First :
Capital First said that the Debenture Committee constituted by the board of directors of the company at its meeting held on June 23, 2017 has approved an issue of Rated, Listed, Secured, Redeemable, Non-Convertible Debentures of Rs 25 crore plus green shoe option of Rs 25 crore on private placement basis. 

🎯 Infibeam Incorporation :
The company said that a meeting of the board of directors of the company will be held on July 13, 2017 to consider stock-split proposal of equity shares of the company.

Edited by Sharp.
Sharp Investment & Financial Advisers

23rd June, Morning Brief

Market may open on a flat note tracking SGX Nifty.
It will be interesting to see whether Nifty will bounce back after yesterday's fall or continue to slide.

🎯 News & Impact 🎯

🎯 Infosys, TCS :
Accenture cuts guidance
FY17 guidance lowered to 6-7 % from 6-8 %.
Guidance lowered due to softness in healthcare and North America.
Q3 organic growth slowed to 4.5 % from 5.5 % in Q2.
Increased acqusition outlay to USD 1.8 billion in FY17.
Negative for the stocks. 👎

🎯 Reliance :
and partner BP have withdrawn the gas price-related arbitration against the government, paving the way for the companies to claim the premium price for output from deep-sea fields in which they plan to invest Rs 40,000 crore. 
Positive for the stock. 👍

🎯 Idea & Bharti Airtel :
Manoj Sinha assures telecom companies of corrective steps.
Positive for the stocks. 👍

🎯 Wockpharma :
Settles with Teva & its affiliate a commercial litigation in London HC.
Settles commercial litigation for Trisenox with Teva in London HC.
Positive for the stock but may impact on stock price. 👍

🎯 Fortis Healthcare :
Malaysia’s healthcare services provider IHH Healthcare Berhad on Thursday said it is not close to “concluding any negotiations” to buy controlling stake in Fortis Healthcare. 
Negative for the stock but can invest.

🎯 Zenith Computers :
Bankruptcy process started against the company.
Negative for the stock. 👎

🎯 Tata Power :
To continue exploring options for long term sustainability of Mundra plant.
Bankers suggested procurers to buy 51 % in Mundra on back to back basis.

🎯 Jet Airways : 
Budget carrier Jet Airways on Thursday announced expansion of its codeshare partnership with Air France, KLM Royal Dutch Airlines, and Delta Air Lines. Under the expanded pact, the carriers will expand choice and connectivity options for guests flying between India and Europe.

🎯 Mahindra & Mahindra :
Global brokerage firm Credit Suisse maintained ‘Outperform’ rating on Mahindra & Mahindra with a target price of Rs 1,530.

🎯 Tata Motors :
Tata Motors is set to save Rs.300-400 crore in what’s termed the biggest restructuring exercise in the history of the company. The recast of the white-collar workforce has resulted in 1,200-1,300 employees getting reassigned, shifted to other units or asked to leave. The company has also slashed 2,500 positions, by eliminating a plethora of designations, all of which will add to the bottom line.

🎯 Quess Corp :
The company enters into definitive agreement to acquire 51 percent shareholding in Comtel Pro.

🎯 Shriram EPC :
Shriram EPS bags orders worth Rs.165 crore under water management business

🎯 IB Realty :
India bulls Realty to issue non-convertible debentures (NCDs) worth Rs. 500 crore.

🎯 Reliance Industries :
Homeshop 18 seen in talks with Shop CJ for merger.
Network 18, which is a part of Reliance Industries, owns Homeshop 18.

🎯 Rcom :
Global PE's back Reliance Communications' tower arm stake sale plan.

🎯 NTPC :
NTPC targets 250 billion unit power generation in FY18.

🎯 SBI :
SBICAP raises stake in Jindal Stainless due to creation of pledge by 2.34 % to 29.63 %.

🎯 Reliance Defence :
The company to partner with Daher for aerospace components.

🎯 Mindtree :
Mindtree to consider share buyback on June 28.

Edited by Sharp.
© Sharp Investment & Financial Advisers

22nd June, Morning Brief

Markets are likely to open in green as SGX Nifty was trading 15 points up.

🎯 News & Impact 🎯

🎯 Godrej Consumer Products :
Ex-bonus (1:1)

🎯 HUL : 
Ex-dividend (Rs 10)

🎯 Kitex Garments :
Ex-bonus (2:5)

🎯 Arcotech :
Ex-split (From Rs 10 to Rs 2).

🎯 ICICI Bank, SBI, IDBI, Bank of Baroda :
SEBI for banks -
# 6-month average price rule won't apply for NPA resolution cases.
# Public offer exemption given in case of stressed assets.
# Share price during stake sale under NCLT not to be bound by SEBI rules.
Positive for ICICI Bank, SBI, IDBI, Bank of Baroda. 👍

🎯 Federal Bank :
Federal Bank to raise up to Rs. 2,500 crore via QIP issue at Rs 111.50-116.70/share.
Federal Bank QIP closed; strong demand from local & global investors.
Max demand for Federal Bank QIP at top end of the band.
Positive for the stock. 👍

🎯 Prism Cement :
Sanskar Ceramic, step down JV of the company has completed the expansion of vitrified tiles capacity.
Capacity now stands at 2.3 million per annum of wall tiles and 4.2 million per annum of vitrified tiles.
Positive for the stock. 👍

🎯 Petronet LNG :
Company in talks to buy stake in GSPCs Mundra LNG.
Positive for the stock. 👍

🎯 Axis Bank :
Plans to raise Rs 35,000 crore.
Positive for the stock. 👍

🎯 JP Associates :
Lenders approve loan recast.
Formal clearance to be announced today
Rs.13,000 crore will be transferred to a new special purpose vehicle.
Positive for the stock. 👍

🎯 IDFC :
RBI removes restriction on foreign investment in IDFC.
Positive for the stock. 👍

🎯 Fortis :
Delhi HC clears decks for potential deal by Fortis Healthcare to bring in new shareholders.
Positive for the stock. 👍

🎯 Glenmark :
Glenmark gets tentative US FDA nod for Solifenacin Succinate tablets (used for treatment of overactive bladders).
Positive for the stock. 👍

🎯 Reliance Defence :
Reliance Defence and Thales, to form JV for Rafale deal.
Positive for the stock. 👍

🎯 Tata Motors :
Committee approved offering for subscription, on a private placement basis, up to 5,000 Rated, Listed, Unsecured, 7.50% coupon, redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each, at par, aggregating up to Rs 500 crore.
Positive for the stock. 👍

🎯 Zee Entertainment :
Global brokerage firm CLSA maintained ‘Buy’ on Zee entertainment with a target price of Rs 625. 
Positive for the stock. 👍

🎯 Pidilite : 
Credit Suisse maintained ‘Outperform’ on Pidilite with a target price of Rs 920. The global financial services firm prefers Pidilite due to its impregnable business moat. 
Positive for the stock. 👍

🎯 Nila Infrastructure :
The company on Wednesday received a work order from Ahmedabad Municipal Corporation (AMC) for slum rehabilitation and re-development for construction of 360 units on PPP basis.
Positive for the stock. 👍

🎯 Pharma Companies :
US FDA chief Scott Gottlieb says,
Can take steps to facilitate increased competition.
May address issue of high priced medicine via approval of generic medicine.
Working on a drug competition action plan.
Plan to solicit inputs for faster access to generic drugs.
Negative for DRReddy, Lupin, Sun Pharma. 👎

🎯 Ashok Leyland :
The company said that the board of directors of Hinduja Leyland Finance (HLFL) at its meeting held on May 23, 2017 has decided to withdraw the draft red herring prospectus (DRHP) and accordingly the DRHP had been withdrawn from Securities Exchange Board of India (Sebi) on June 16, 2017.
Negative for the stock. 👎

🎯 HDFC :
HDFC has filed term sheet for issuing secured redeemable non-convertible debentures worth Rs 700 crore on private placement basis @ 7.21 p.a.

🎯 Medicamen Biotech :
Medicamen issues 3.06 lakh warrants to promoters and non promoters at Rs.543 per share.

🎯 Ramky Infra :
To sell non-civic waste unit.

🎯 Coal India :
Coal India allows arms to reduce reserve price at auctions.

🎯 Idea :
Idea cellular moves Bombay HC for stay on CCI probe.

🎯 Larsen & Toubro :
The government on Wednesday sold its 2.5 per cent stake in Larsen & Toubro (L&T) to state-run entities, including SBI and LIC, for about Rs 4,200 crore. 

🎯 Premier Ltd :
The company has received Rs 83.51 crore (net) as a part payment towards compensation from the DFCC (a subsidiary of the Indian Railways) for compulsorily acquiring a part of the company’s land. 

Edited by Sharp.
© Sharp Investment & Financial Advisers

21st June, Morning Brief

Market will open negatively with a gap as SGX Nifty is down by 33 points.

🎯 News & Impact 🎯

🎯 ABB :
ABB, the Swedish-Swiss multinational, is in discussions with Larsen & Toubro to acquire its electrical and automation division. The division that generated revenues of Rs 4,650 crore and operating profit of a little over Rs 700 crore in 2016-17 is expected to be valued at Rs 14,000-18,000 crore.
Positive for the stock. 👍

🎯 Adani Ports :
Adani Ports and Special Economic Zone (APSEZ), India’s largest ports company, plans to raise at least $500 million through overseas bond sales and use the proceeds to refinance some current loans and fund expansion.
Positive for the stock. 👍

🎯 Astrazeneca Pharma :
Received marketing authorisation from the Drug Controller General of India (DCGI) for Symbicort, a medicine used for treatment of asthma. 
Positive for the stock. 👍

🎯 L&T :
Gets Rs 287 crore EPC contract from NHPC.
Gets EPC contract for development of 50MW solar power project in Tamil Nadu.
Positive for the stock. 👍

🎯 Tech Mahindra :
TechMarm LCC Middle East to sell LCC Pak to Swiss company Talkpool for USD 5.2 million.
Positive for the stock. 👍

🎯 NHPC :
Moodys assigns Baa3 rating to NHPC, outlook positive.
Positive for the stock. 👍

🎯 Sun Pharma :
Sun Pharma's subsidiary Taro gets US FDA nod for anti-convulsion drug, Felbamate.
Ranbaxy gets US FDA's REMS nod for acne prevention drug, Absorica tablet
Positive for the stock. 👍

🎯 Dr Reddy's Lab :
Dr Reddy's lab gets US FDA's REMS (risk evaluation & mitigation strategy) nod for acne prevention drug, Zenatane capsule.
Positive for the stock. 👍

🎯 Auropharma :
Aurobindo Pharma gets tentative US FDA nod for diabetes drug, Linagliptin tablet.
Positive for the stock. 👍

🎯 Canara Bank :
State-owned Canara Bank has decided to sell nearly 9 per cent stake in the credit ratings firm CARE Ltd that could fetch it over Rs 393 crore.
Positive for the stock. 👍

🎯 Nestlé :
The company has bought a minority stake in the ready-to-eat meal service Freshly as the global food giant moves to expand its distribution network. The move comes a week after the world’s largest packaged food maker said it may sell its US candy business, which includes Butterfinger candy bars and Raisinets. The investment also comes on the heels of Amazon's plan to buy Whole Foods for $13.7 billion, potentially transforming the market for retailers and grocers.
Positive for the stock. 👍

🎯 JK Paper :
Ind-Ra upgrades long term issuer rating to A- from BBB.
Positive for the stock. 👍

🎯 Spicejet :
Spicejet places USD 1.7 billion order for 50 Bombardier Q400 planes.
Positive for the stock. 👍

🎯 Rcom :
The company to speed up realty monetisation.
Positive for the stock. 👍

🎯 Ashok Leyland :
Hinduja Leyland defers IPO plan.
Positive for the stock. 👍

🎯 Eicher Motors :
Royal Enfield ties up with 4 custom bike companies.
Positive for the stock. 👍

🎯 Inox Wind & Suzlon Energy :
Andhra Pradesh signs power purchase agreements, now wants 25 percent price cut.
Negative for the stocks. 👎

🎯 IOC :
IOC has been losing Rs 1 crore daily since February as an agitation in Kerala has hit its planned Rs 2,200 crore liquefied petroleum gas (LPG) import terminal and pipeline project.
Negative for the stock. 👎

🎯 Idea Cellular :
Idea Cellular’s revenue and Ebitda (earnings before interest, taxes, depreciation & amortisation) estimates for FY18 and FY19 have been cut following a sharp 27 per cent fall in the company’s incremental revenue market share in FY17, high contingent liabilities and a hefty repayment burden over the next three years, brokerage CLSA said in a note seen by ET. 
Negative for the stock. 👎

🎯 Monnet Ispat :
Lenders group gives assent to file application under Insolvency & Bankruptcy Code for Monnet Ispat.
Negative for the stock. 👎

🎯 GMR Infra :
To bid for airport in Serbia, Jamaica

🎯 Raymond :
Raymond targets Europe, US for stitched garments.

🎯 Kirloskar Oil :
Company okays proposal for acquisition of 100 percent equity shares of La-Gajjar Machineries.

🎯 Reliance Defence :
Reliance Defence files ammunition pact woth Serbia.

🎯 Uco Bank :
State-run Uco Bank may require Rs. 3,000-4,300 crore of tier 1 capital in the FY2018 and FY2019 to cover the losses for the last two years. Downgraded bank's bond programme by ICRA.

🎯 ICICI Bank :
ICICI Bank approved the proposal for fund raising by way of issuance of senior unsecured long term bonds in the nature of debentures in single/multiple tranches on private placement basis. 

🎯 Piramal Enterprises : 
The company on Tuesday said it has raised Rs 600 crore via issue of securities. 

🎯 Captain Polyplast :
Captain Polyplast to start new manufacturing plant at Kurnool district, Andhra Pradesh.

🎯 Magma Fincorp :
Magma Fincorp approves scheme of merger with Magma Advisory.

🎯 Somany Ceramics :
Company issues commercial paper of Rs 40 crore.

🎯 Bajaj Corp :
To raise Rs 1,000 crore.

🎯 Axis Bank :
Axis bank plans to sell its stake in Mswipe.

🎯 Abirla Nuvo :
Aditya Birla Nuvo merger with Grasim to be effective from July 1.

Edited by Sharp.
© Sharp Investment & Financial Advisers.

20th June, Morning Brief

Market likely to open on a flat note with positive bias following SGX Nifty.

On Wall Street, the Dow and S&P500 settled at record high as Apple, Facebook and other tech shares posted strong gains. 

🎯 News & Impact 🎯

🎯 Auropharma :
Aurobindo Pharma gets US FDA nod for Aurovela tablets (an orally active estrogen).
Positive for the stock. 👍

🎯 Biocon :
Biocon allots bonus shares in the ratio of 1:2.
Positive for the stock. 👍

🎯 OBC :
Brickwork ratings revises rating on upper tier II bonds to A from AA-
Positive for the stock. 👍

🎯 Larsen & Toubro (L&T) :
Global financial services firm Macquarie maintained ‘Outperform’ on L&T with a target price of Rs 2,125. 
Positive for the stock. 👍

🎯 Aviation stocks :
Airline major SpiceJet, IndiGo and Jet Airways will remain in focus on Tuesday after passengers carried by domestic airlines grew by close 18 per cent to 465.87 lakhs during January-May 2017 as against 396.04 lakhs in the corresponding period of previous year, according to the performance report of the domestic airlines released on Monday. 
Positive for the stocks. 👍

🎯 Vedanta :
Mining major Vedanta said its gross debt has come down by over Rs.4,000 crore during the 2016-17 fiscal and further reduced by Rs 6,200 crore since April 1 this year. 
Positive for the stock. 👍

🎯 ONGC :
OVL shortlisted for oil, gas field auction in Mexico.
Positive for the stock. 👍

🎯 Fortis Healthcare :
Fortis promoter sold 2 million shares of company via open mkt on Friday.
Caution over the stock.

🎯 Relinfra :
Relinfra , IL&FS in race for upgrading 5 railway stations in Mumbai.
The Supreme Court on Monday rejected Delhi Metro Rail Corporation’s plea to stay a Delhi High Court order asking it to pay Rs 60 crore to Delhi Airport Metro Express Private Limited (DAMEPL), a Reliance Infrastructure subsidiary.
Negative for the stock. 👎

🎯 Ashoka Buildcon :
SBI Macquarie looks to exit Ashoka arm.
Negative for the stock. 👎

🎯 Tata Motors :
Tata Motors Ltd said on Monday it had no plans to list its luxury British car brand Jaguar Land Rovee after Bloomberg reported that the automaker was considering an initial public offering of the unit.

🎯 Lanco Infratech :
Lanco Infratech is the first firm from the blacklist to face bankruptcy action.

🎯 Edelweiss :
Edelweiss arm files bankruptcy case against Mumbai realtor Kohinoor

🎯 Gail :
Cancels tender over policy to buy local steel.

🎯 GMR Infra :
To buy a team in South Africa T-20 cricket league.

🎯 Wipro :
Shareholders of software major Wipro approved two resolutions of its board to increase the authorised share capital and issue bonus shares through postal ballot and by electronic voting, said the company on Monday. 

🎯 Bhusan Steel :
Bhushan Steel & Bhushan Power receive Insolvency and Bankruptcy Code notice; PNB to hold joint lenders forum On June 22: Sources.

🎯 Advance Enzyme Technologies :
Company said it is eyeing inorganic growth through acquisitions and targeting Rs 1,000-crore turnover in the next five years. The research-driven company is looking for acquisitions in Europe and North America.

Edited by Sharp.
© Sharp Investment & Financial Advisers

19th June, Morning Brief

Market will open on a positive note tracking with SGX Nifty.

🎯 News & Impact 🎯

🎯 Reliance Industries :
Around 90 % of Reliance Jio users are estimated to have subscribed to its promotional Prime membership plan, as per a report by Bank of America Merill Lynch. Around 76 per cent are ready to continue using Jio's service once the promotional period ends, it added. 
Positive for the stock. 👍

🎯 Infosys : 
IT major Infosys-backed drone startup ideaForge Technology has bagged an order from energy conglomerate NTPC to supply two highly sophisticated unmanned aerial vehicles (UAVs) along with high-end programmatic sensors, Thermal Imaging Sensor and LiDAR Sensor. 
Positive for the stock. 👍

🎯 Godrej Consumer Products : 
The company on Sunday said it has got shareholders’ approval to issue Bonus share of Re. 1 each for every existing share in the ratio of 1:1.
Positive for the stock. 👍

🎯 Kotak Mahindra Bank :
The Competition Commission has given its approval for Kotak Mahindra Bank buying out British partner Old Mutual’s 26 per cent stake in former’s life insurance arm for Rs 1,293 crore.
Positive for the stock. 👍

🎯 Asian Paints :
Enters Share Purchase Agreement With Ansa Coatings International.
Agreement To Divest Entire Stake In Lewis Berger (Overseas Holdings).
Positive for the stock. 👍

🎯 NTPC :
NTPC's 225 MW out of 250 MW of Mandsaur Solar Power Project of NTPC Limited has been commissioned.
Positive for the stock. 👍

🎯 VRL Logistics :
The company enters into agreement for purchase of land or cost of 83cr for construction of trans shipment yard in Gujarat.
Positive for the stock. 👍

🎯 MRPL :
HPCL eyes mangalore refinery for acquisition.
Positive for the stock. 👍

🎯 ONGC :
Company's Bassesin gas field in Arabian sea to touch record output in 2018.
Positive for the stock. 👍

🎯 SBI :
SBI may look at IPO of general insurance next fiscal.
Positive for the stock. 👍

🎯 Dredging Corporation :
Govt. planning strategic sale of Dredging corporation.
Positive for the stock. 👍

🎯 Omkar Specialty Chemicals :
Company to raise funds upto 200cr via rights issue.
Positive for the stock. 👍

🎯 Hotels stocks : 
The GST Council, which met for the 17th time on Sunday, also decided to fix the tax rate for AC hotels at 18 per cent where the billed amount is up to Rs 7,500. Earlier, it had proposed to levy 28 per cent on hotel bills exceeding Rs 5,000.
Watch for positive outcome. 👍

🎯 Bank Of Maharashtra :
RBI Initiates Prompt Corrective Action Due To High NPAs.
Cautious over the stock.

🎯 Lanco Infratech :
RBI directs IDBI bank to initiate corporate insolvency Resolution process against the company.
FY17 Debt 43,501cr.
Interest cost for FY17 2995cr (Double of EBITDA).
Negative for the stock. 👎

🎯 Dr Reddys Labs :
Form 483 issued with one observation by US FDA at Srikakulam Plant (SEZ) Unit I.
Negative for the stock. 👎

🎯 MSP Steels :
Company to convert non cumulative preference shares into equity shares under S4A Scheme.

🎯 Kwality :
Kwality Walls Wins Lawsuit Against Amuls Ice Cream Advertisement.

🎯 IndusInd Bank :
IndusInd bank acquires 75 lkhs shares of kesoram Ind, on exercise of conversion option on Preference Shares.

🎯 Bharat Financial :
The company assigns pool of receivables of an aggregate value of Rs.539.67 crore to one of the largest public sector banks on a direct assignment basis.

🎯 Motherson Sumi :
Fitch assigns rating of BBB-to Netherland's Subsidiary.

🎯 Monet Ispat :
Monet Ispat clarifies that company has not filed for bankruptcy.

🎯 Nucleus Software :
Company's Buy-back of upto 33,43,000 equity shares , representing 10.32% of the total paid-up equity, at final Buyback price of Rs. 350.

🎯 Can Fin Homes :
BM on June 23rd to discuss further issue of equity shares.

🎯 Medicamen Biotech :
BM on 21st june To issue convertible warrants to promoter and Non promoter.

🎯 Shriram City Union :
To issue NCD's worth 135 cr.

🎯 DHFL :
To issue NCD's worth 150 cr.

🎯 JSW Steel :
Company looks to raise 8kcr via QIP

🎯 Vedanta :
Company to set up steel plant in Jharkhand.

🎯 IDBI Bank :
IDBI Bank to raise up to 5kcr.

🎯 IndusInd Bank :
IndusInd bank sells Vasans 1100 cr loan to Edelweiss.

🎯 Tata Motors :
Tata Sons To Buy Tata Steel Stake In Tata Motors On Or After June 23.

🎯 Monnet Ispat :
Sources Say Monnet Ispat & Energy Receives Insolvency & Bankruptcy Code Notice - CNBC-TV18.

🎯 Axis Bank :
Bank Revises MCLRs In Short Tenors, 1-year MCLR Stands Unchanged At 8.25%.

Edited by Sharp.
© Sharp Investment & Financial Advisers

16th June, Morning Brief

Market is likely to open on a flat note  tracking SGX Nifty trading 8 points up. The Nifty50 witnessed selling pressure and it closed near its days low on yesterday. Trending resistance will be at 9620-9640 levels and support will be at 9520 level.

Rupee hits a 2-week low on Thursday

The rupee today took a hefty knock by plunging 23 paise to a two-week low of 64.53 a dollar after the US Federal Reserve delivered the widely expected rate hike and maintained a hawkish tone going forward.

🎯 News & Impact 🎯

🎯 Reliance :
Reliance Industries partners with BP to develop already discovered Deepwater gas fields.
Positive for the stock. 👍

🎯 TCS :
The IT company announced that it has launched ignio for SAP ERP to help customers run their operations in SAP more effectively. ignio is a cognitive automation solution for enterprise IT. ignio has also achieved certified integration with SAP ERP. 
Positive for the stock. 👍

🎯 Lupin :
Lupin launches antidesperrant tablets in US.
Positive for the stock. 👍

🎯 Axis Bank :
Axis Bank board approves Allotment of NCD's aggregating to Rs.5000cr.
Positive for the stock. 👍

🎯 Astrazeneca Pharma :
The company receives Import and Market permission in Form 45 (Marketing Authorization) from the Drug Controller General of India for FDC of Budesonide 320 g Formoterol Fumarate Dihydrate 9 g inhalation powder.
Positive for the stock. 👍

🎯 Century Ply :
Company's Singapore Subsidiary has acquired 49% stake in M/s. Huesoulin Wood Processing Factory Co. Ltd., which is engaged in manufacturing and trading in plywood, veneer & all wood products and providing related services.
Positive for the stock. 👍

🎯 Pennar Industries :
Pennar Industries Ltd and PEBS intend to set up a 50:50 Joint Venture in United States of America to supply their goods and service.
Positive for the stock. 👍

🎯 Deepak Fertilizers :
The company has received an intimation that Department of Fertilisers (DOF), Ministry of Chemicals and Fertilisers, Government of India would release the balance withheld amount of Rs 310.52 crores on providing a Bank Guarantee of equivalent amount. 
Positive for the stock. 👍

🎯 IPCA Labs
All Drugs Manufactured At Ratlam Unit Refused Admission In The US.
API Chloroquine Phosphate Mfg At Ratlam Unit Is An Exception.
Negative for the stock. 👎

🎯 Tata Motors :
Board Approves Partial Divestment Of Stake In Subsidiary Tata Technologies.
Warburg Pincus To Invest $360 m To Buy Stake From Tamo & Tata Capital.

🎯 Edelweiss :
Edelweiss set to take over Adhunik power. 

🎯 Wipro :
One in 2 data thefts saw breach of passwords.

🎯 JSPL :
JSPL may diversify into ammonia and urea production.

🎯 Eicher Motors :
Royal Enfield slashes prices up to 4500rs / vehicle.

🎯 Infosys :
The board of directors at Infosys will set revised growth targets in place of the much-touted goal of $20 billion by 2020 as India’s second-largest software exporter aims to forge a consensus with its iconic promoters on the strategy for future growth in a turbulent market for global outsourcing. 

🎯 HDFC to raise 2000cr vis debt issue.

🎯 Dena Bank :
Dena Bank has to cut interest rates on home loans above Rs 30 lakh to Rs 75 lakh by 5 basis points. The bank has reduced the interest rate by 10 basis points for loans above Rs 75 lakh. 

🎯 Canara Bank :
Cabara bank to raise 3500cr equity.

🎯 HCL Tech :
HCL Tech to hire 2000 for upcoming Nagpur campus.

🎯 ICICI Bank :
ICICI Bank board meeting on June 20th to consider fund raising by way of issuance of senior unsecured long term bonds in the nature of debentures.

🎯 Havells India :
Havells to issue Commercial Paper to Yes Bank Limited for an amount of Rs. 150 crores.

🎯 DB Corp :
Company says mutually decided to terminate agreement with Diligent Media Corporation Limited (DMCL) to print and circulate the newspaper titled 'DNA - Daily News & Analysis' in the cities of Jaipur and Ahmedabad.

🎯 GE Shipping :
The company takes delivery of a Secondhand Medium Range Product Tanker 'Jag Pavitra'.

🎯 Canara Bank :
Canara Bank to seeks shareholders approval for raising Equity Capital upto Rs.3500cr.

🎯 SKP Securites :
SKP Securities announces buyback of 12.15 lkh shares at 51 cmp 49.

🎯 IOC :
IOC cuts petrol price by Rs 1.12/litre; cuts diesel price by Rs 1.24/litre.

🎯 NTPC :
Fitch Affirms Long-term Issuer Rating At BBB-; Outlook Stable.

Edited by Sharp.
© Sharp Investment & Financial Advisers

15th June, Morning Brief

Market will open on a negative note and may trade sideways as lower bottom formations has been witnessed in last few sessions. This trend will be broken if Nifty50 crosses and closes above 9630. In the down side, 9500 - 9520 will be considered as a good support.

The Federal Reserve raised interest rates on Wednesday for the second time in three months which may put Asian markets muted.

🎯 News & Impact 🎯

🎯 IOC, BPCL and HPCL : 
These companies signed an agreement to jointly set up the world’s largest refinery and petrochemical complex at Ratnagiri district of Maharashtra at a cost of $40 billion. 

🎯 IOC :
Indian Oil Corporation to set up 87 control rooms to address dealer issues on daily price revision.

🎯 SCI :
Government may be looking to sell stake in Shipping Corporation Of India.
NITI Aayog recommends government to cut holding in company from current 63.75 % to 25 %.
Positive for the stock. 👍

🎯 Alkem Labs :
Alkem labs gets US FDA nod for fungal infection drug, Itraconazole Capsule.
Positive for the stock. 👍

🎯 Wockhardt :
Wockhard gets tentative US FDA nod for Bendamustine Hydrochloride injectable (used to treat different types of cancer).
Positive for the stock. 👍

🎯 Vascon Engineers :
SEBI seeks clarification on cancellation of Vascon deal with Lodha arm.

🎯 Rcom :
Reliance Communications Chairman Anil Ambani will not take any salary or commission in the current financial year as the company is reeling under huge debt and credit downgrades. 

🎯 Spicejet :
SpiceJet is likely to place an order for the Boeing 737 Max-10 planes at the aircraft’s debut at the Paris Air Show later this month, thus becoming one of its launch customers globally . 

🎯 Mphasis : 
IT company Mphasis has raised $500 million by selling dollar bonds as it aims to repay existing loans taken by global private equity major Blackstone, which holds a controlling stake in the firm. 
Positive for the stock. 👍

🎯 Bharat Financial Inclusion : 
Expanding its footprint across the length and breadth of the country, micro-finance lender Bharat Financial Inclusion will bring around 2 lakh kirana stores to cater as service points with digital imprint. The expansion is to be done with the help of banks in a tie-up arrangement in 16 states. 
Positive for the stock. 👍

🎯 Tata Power/Welspun Enterprises :
Tata Sons may put Welspun deal under lens.

🎯 Repco Home Finance :
Repco Home Finance raises Rs. 272 crore from IFC.

🎯 Corporation Bank: The bank has revised the bank’s tenor based Marginal Cost of Funds based Lending Rate (MCLR).
Upto 1 month 8.15 %.
3 Months' Tenure 8.25 %.
6 months' Tenure 8.65 %.
For 1 year loan is 8.75 %.

🎯 Dr Reddy's Lab :
The company recalls 3.25 lakh cartons of Cipla made drug.

🎯 Usha Martin :
Mckinsey to help Usha Martin wade through debt.

🎯 NTPC :
The company eyes 3 million tonne coal output in FY18.

🎯 Central Bank of India :
RBI puts Central Bank of India under prompt corrective action in view of high NPA and negative return on assets.

🎯 Gammon Infra :
Board meeting for results postponed to June 18.

🎯 Wipro :
Wipro bags order from Finnish company Valmet for IT applications managed services.

🎯 IDBI :
ED files 1st prosecution complaint against Vijay Mallya & others in money laundering CASE.

Edited by Sharp.
© Sharp Investment & Financial Advisers.

14th June, Morning Brief

Market will open with a flat note with a negative bias. 9500 will be considered as a level of support and 9700 mark will be a strong resistance to cross.

US stocks closed at record closing highs, as technology stocks bounced back and investors positioned for an expected Federal Reserve interest rate hike.

The Reserve Bank of India has identified 12 non-performing accounts or assets (NPAs), totalling 25 % of India's gross NPAs, which can be immediately taken up under the Insolvency and Bankruptcy Code (IBC).
Some of the large stressed accounts that could be a part of the 12 are Essar Steel with Rs 44,000 crore stressed assets, Bhushan Power (Rs 35,000 crore), Bhushan Steel (Rs 35,000 crore), Alok Industries (Rs 24,000 crore) and Electrosteel Steels (Rs 10,000 crore).

🎯 News & Impact 🎯

🎯 Manpasand Beverages :
The company reported 22.43 % rise in net profit at Rs.31.33 crore vs net profit of Rs. 22.43 YoY.
Positive for the stock. 👍

🎯 Rcom :
Reliance Communications-Brookfield tower deal likley to close by next month.
Company said to approach Citic for sale of GCX business.
Positive for the stock. 👍

🎯 Gitanjali Gems :
Gitanjali arm Nakshatra gets SEBI nod for an IPO.
Positive for the stock. 👍

🎯 MCX :
SEBI issues guidelines on options on commodity futures Trading.
Bourses allowed to launch one option contract on pilot basis.
Rs 1,000 crore daily turnover must for non-farm options.
Rs 200 crore daily turnover must for options on farm futures.
Options to be allowed only for top 5 traded commodity futures.
Position limits in commodity futures, options to be separate.
Positive for the stock. 👍

🎯 Glenmark :
Gets tentative US FDA nod for Saxagliptin tablets (used for treating type-2 diabetes).
Positive for the stock. 👍

🎯 Emkay Global :
The company signs an agreement for co-branding and distribution of equity research with DBS Vickers.
Positive for the stock. 👍

🎯 M&M :
M&M approves sale of part shareholding in Mahindra Logistics through IPOs.
Positive for the stock. 👍

🎯 Hexaware :
Hexaware's revenue from client EY dips.
Cautious over the stock. 👎

🎯 Dr Reddy :
API manufacturing plant at Miryalaguda receives EIR from the US FDA.
Miryalaguda manufacturing plant was issued Form 483 with 3 observations on February 21.
Negative caution over the stock. 👎

🎯 Adani Transmission :
The company releases pledge on 3.03 crore shares.
Negative and cautious over stock. 👎

🎯 Tata Motors :
Appoints Girish Wagh as head of commercial vehicle business & member of executive committee.
Girish Wagh will continue to oversee M&HCV business.

🎯 Greaves Cotton :
Inks pact with Pinnacle Engines to grant license.
Grants license for manufacturing & sale of internal combustion engines. 

🎯 JSW Energy :
The company appoints Prashant Jain as MD & CEO.

🎯 Ashok Leyland :
Allots 8.06 crore shares of Ashok Leyland to shareholders of Hinduja Foundries.

🎯 Wipro :
Acquires Drivestream inc, a management and IT consulting firm specializing in Oracle Cloud services.
Wipro has invested $809,690 (about Rs 5.12 crore) in management and IT consulting firm Drivestream. The cash consideration will see Wipro acquiring 19,679 preferred stocks and 27,865 common stocks.

🎯 JSW Steel :
The company reports crude steel production at 13.57 lakh tonnes for May 2017, growth of 1 percent YoY.

🎯 ONGC :
ONGC and directorate general of Hydrocarbons (DGH), the upstream oil and gas regulator, have told an official probe panel that they had no prior knowledge that the reservoirs of the state-run company and Reliance Ind. in KG Basin were connected, three people aware of the development told ET. 

🎯 Kelton Tech :
Partners with BEC, a leading provider of automated data capture and voice solutions. 

🎯 Gammon Infra :
Board meeting for approval of results adjourned to June 14.

🎯 Filatex India :
CARE upgrades long term bank facilities to BBB.

🎯 Magma Fincorp :
The board meeting on June 20 to consider and approve merger of Magma Advisory Services.

🎯 Infosys :
Infy flags activist shareholders as risk in SEC filing.

🎯 BHEL :
BHEL to get out of its Kasargod JV.

🎯 MMTC :
MMTC to exit ICEX, sell residual 9.5 % stake.

Edited by Sharp.
© Sharp Investment & Financial Advisers

13th June, Morning Brief

Market is likely to open in green as SGX Nifty trading up by 13 points and mixed global cues.

Macro economic data released on Monday will give further direction to markets in Tuesday’s trade. Retail inflation slumped to record low of 2.18 per cent in May driven by sharp drop in kitchen staples like vegetables and pulses, strengthening government’s case for lowering of interest rate by RBI.

🎯 News & Impact 🎯

🎯 Mining Sector (Hindustan Zinc, MOIL, Orissa Minerals), power sector (Tata Power, Reliance Power, NTPC) and Capital Goods (ABB, BHEL, CG Power) may come under pressure following the IIP data. Mining sector output grew 4.2 % in April compared to 6.7 % in the year-ago period, while power generation rose 5.4 % (14.4 per cent). Capital goods output contracted 1.3 % against growth of 8.1 % in the past year.

🎯 Reliance Capital :
Reliance General Insurance Board approves plan to list independently on stock exchange.
Gross written premium for FY17 at Rs. 4007cr up 40% YoY.
Listing to be completed by FY18

🎯 Wipro :
Wipro ADR Trading Halted In Pre-open, Stock Down 48%.
Technical Adjustment As Wipro ADR Goes Ex-bonus 1:1.

🎯 Sical Logistics :
To acquire Patchems Private ltd. for 9.5cr
Gross turnover of Patchem - 22cr.

🎯 Cosmo Films :
The company launches new product - Direct thermal printable paper in both top coated and uncoated varieties.

🎯 Shreyas Shipping :
Company signs JV with Suzue corporation (Engaged in multi modal logistics).

🎯 Capital First :
Board Meeting on June 15th, to issue NCD's.

🎯 Ess Dee Aluminum :
Suspend operations at Kolkata plant w.e.f July 1st due to financial stress.

🎯 Jeevan Scientific :
The company informed exchanges about the successful completion of first USFDA audit.
Positive for the stock.

🎯 MEP Infra :
In talks with Korean, Chinese firms for road project tie ups.

🎯 Bharti, Idea :
Jio accuses bharti, Vodafone and idea of cartelization.

🎯 Spcejet, Indigo, Jet airways :
Airline companies may push up fares to lighten GSt load.
Positive for the stocks.

🎯 Allahabad Bank : 
State-owned Allahabad has cut MCLR rates for various tenors in the range of 0.10-0.15 per cent with effect from Monday.

🎯 Sagar Cements : 
The Hyderabad-based Sagar Cements is expecting around 18 per cent jump in its production to 2.6 million tonnes in FY 2017-18. The company is also targeting an overall market growth of 10 per cent on consolidated basis from its captive market spread between South Maharashtra and Odisha.

🎯 Monsanto, Bayer cropscience :
Companies cut India investments.
Negative.

🎯 Infosys :
No merit in Infosys whistleblower charges says SEBI.

🎯 Tata power :
Company eyes 80 town for distribution in J&K.

🎯 HPCL, BPCL, IOC :
Private fuel retailers to revise price daily.
Watch.

🎯 Axis Bank :
Axis bank plans to raise 5000cr from Debentures.

🎯 PFC :
Govt allows PFC to issue bonds free of capital gains tax.

🎯 Dhanlaxmi Bank :
Not looking at merger or strategic alliance says MD.
Negative for the stock.

🎯 SpiceJet :
Launches Operations Under UDAN.
Watch.

🎯 TCS :
Inks Pact With Intel To Build Future-ready Reference Architecture.
Positive for the stock.

🎯 Power stocks :
Govt. to review status of stressed power assets, says Goyal.

Edited by Sharp.
© Sharp Investment & Financial Advisers

12th June, Morning Brief

Markets will open in red on Monday tracking SGX Nifty, down by 63 points and negative Asian markets and US markets on Friday.

Asian shares traded in negative territory on Monday as markets turned cautious, following the surprise hung parliament result from the UK election last Friday and as markets await the results of the first round of France's parliamentary elections.
Nikkei : - 71
HangSeng : - 293
SSE : - 11
STI : + 9.25

🎯 News & Impact 🎯

👉 The Goods and Services Tax (GST) Council on Sunday reduced tax rates on 66 items including ketchup, instant food mixes, pickles, tractor components,  jewellery making charges, computer printers and insulin as the Centre and the states sought to iron out rough edges ahead of GSTs roll out from July 1.
Positive for HUL, ITC, Britannia, Nestlé, M&M, Titan, PC, Gitanjali, TBZ, TVS electronics, Biocon. 👍

👉 According to latest depository data, FPIs have pulled out Rs.289 crore from equities between June 1-9, while they poured in Rs.11,734 crore in debt markets during the period under review, translating into a net inflow of Rs.11,445 crore (USD 1.77 billion).

👉 The dollar rose against a basket of currencies on Friday, helped by a sharp drop in the British pound after Prime Minister Theresa May's Conservative Party lost its parliamentary majority in national elections, said a Reuters report.

🎯 Tata Motors :
Global Wholesale Nos of all passenger vehicles came in at 58,075 up 6%.
For commercial vehicles and Tata Daewoo came in at 28,310 down 13% (YoY).
For Jaguar Land Rover came in at 86,385 down 1% (YoY).

🎯 Amtek Auto :
Revenue down 32% at 442cr vs 648cr.
Loss at 307cr vs 563cr.

🎯 DB Realty :
Net profit rose 21.35 % to Rs 40.75 crore. against Rs.33.58 crore. YoY.  
Positive for the stock. 👍

🎯 Lakshmi Vilas Bank : 
The bank plans to raise Rs 1,000-1,100 crore through a share sale to institutional investors.

🎯 Indian Overseas Bank :
IOB reduces the Base Rate to 9.45% from the existing of 9.50% effective from July 01, 2017.

🎯 Reliance Industries :
Reliance Industries commissions last crystallization train of the Para-xylene complex at Jamnagar, doubled capacity and becomes the second largest producer of Para-xylene (PX) globally.

🎯 Corporation Bank :
Crisil revises outlook from negative to Crisil A/Stable.
Positive for the stock. 👍

🎯 Shriram Transport Finance :
The company approves and allots 350cr worth NCD's on private placement basis.

🎯 Oriental Bank of Commerce :
OBC reduces MCLR rate by 10-20bps.

🎯 Manpasand Beverages :
Board meeting on 13th June.

🎯 PVR, Inox Leisure :
The GST Council has decided on a two-slab structure for cinema tickets, whereby those costing less than Rs.100 would be taxed less at 18 %, while those above will attract tax of 28 %.
Negative for the stocks. 👎

🎯 Coal India :
Muted coal demand and eroding profitability have forced Coal India to 'production closure' of 37 loss making underground mines in the current fiscal to save between Rs 800 crore to Rs 1000 crore annually. 
Positive for the stock. 👍

🎯 Aurobindo Pharma :
Gets Tentative US FDA Nod For Cigensa Norethindrone Acetate Tablets.
Positive for the stock. 👍

🎯 Tata Steel/ Tata Motors :
Companies plan to raise 1500cr by selling bonds.

🎯 Strides Shasun :
Promoters raise Rs.500cr from KKR.

🎯 Cairn India :
The company moves arbitration panel against dividend freeze by Vedanta.

🎯 Rcom, TTML :
Govt sources say no bailout package for telecom companies.
Negative for Rcom, TTML. 👎

🎯 Tatapower, Gvk Power, Adanipower :
State companies may help rescue stressed private power plants.
Positive. 👍

🎯 Inox Wind, Suzlon :
Karnatak Discoms Barred from buying more wind power.
Negative for the stock. 👎

🎯 ONGC :
ONGC keen to buy HPCL, might cost over Rs.42000 cr.
Positive but wait & watch at valuation. 👍

🎯 SBI :
Cuts Rates By 10 bps For Home Loans Above Rs.75 Lakh To 8.55-8.60%.

🎯 Cadila Healthcare :
Zydus' Nesher Pharma Gets US FDA Nod For Nystatin Topical Powder.
Positive for the stock. 👍

🎯 Tata Communication​ :
The company Partners With Alibaba Cloud For Digital Solutions.
Positive for the stock. 👍

Edited by Sharp.
© Sharp Investment & Financial Advisers

9th June, Morning Brief

As stated yesterday, market was in consolidation and may continue today also.
May open positively.

🎯 News & Impact 🎯

PSU banks :
Global ratings firm Moody's on Thursday said Indian PSU banks' capital requirements are going to get accentuated further as they need to adhere to the compliance requirements under the Basel-III norms and because of their poor asset quality. Moody's estimates that these lenders may require about Rs 70,000 to Rs 95,000 crore over the next two to three years. 
Cautious over the sector.

🎯 Pidilite :
PUSA (Pidilite USA) subsidiary of the Co. has entered into an agreement with Niteo Products for sale of business of the Cyclo Division of PUSA.
Cyclo Division has been engaged in the business of automobile grooming, performance and maintenance products.

🎯 Indusind Bank :
Raises a $225 million loan from OPIC for its MSME Lending Program.

🎯 Dilip Buildcon :
CARE upgrades credit rating for bank facilities from CARE A- to CARE A for long term facilities & from care A2 TO CARE A1 for short term facilities.

🎯 Aarvee Denim :
The company says manufacturing unit situated at Ranipur Village, Narol, Ahmedabad has been closed w.e.f. 6th June, 2017 due to closer notice issued by Gujarat Pollution Control Board (GPCB) for safety & health issues.
Negative for the stock.

🎯 Hester Biosciences :
The board Approves Investment of USD 3 million in wholly owned African Subsidiary.

🎯 Repco Home Finance :
The company proposes to raise 100 cr by issuing NCD.

🎯 Greenply Industries :
GREENPLY GABON SA, Gabon, West Africa commences commercial production of Veneer', at its manufacturing unit at Nkok SEZ, Gabon, West Africa.

🎯 TTK Prestige :
TTK to buyback 1 lakh shares at Rs.7000/share.
Positive for the company.

🎯 Bodhtree Consulting Ltd. :
The company partners with Infosys to Provide GST solutions, Revenue potential of 200 crores.
Positive for the stock.

🎯 Vikas WSP :
The company allots 5.7cr shares to the promoter on a preferential basis.

🎯 Zee Media :
NCLT approves Scheme of Amalgamation between Zee Media Corporation Limited; and Diligent Media , Mediavest India, Pri-Media Services and Maurya TV.

🎯 Sunteck Realty :
Board Approves Split of equity shares.
Positive for the stock.

🎯 Infosys :
Founders looking to sell stake in the company.
Observe.

🎯 Coal India :
The coal miner plans to shut down 37 underground mines by the end of this financial year, despite unions' plans to strike for three days this month if the decision is not withdrawn, said a report. The move will lead to the redeployment of about 11,000 workers.

🎯 Reliance Capital :
Reliance Capital likely to list general insurance business.
Positive for the stock.

🎯 PNB Housing :
RBI lowered risk weight assigned to home loans lent on or after June 7.
Positive for the stock.

🎯 Maruti :
Maruti plans to spend 1000 cr in land acquaition this year.
Positive for the stock.

🎯 SBI :
Cancels unused letter of credit for stressed telcos. the spotlight is on Rcom,TTML and Aircel.
Positive for the stock.

🎯 SBI :
SBI raises Rs.15,000 Cr Via QIP At Rs. 287.25/Share; Closes QIP, To Issue 52.2 Cr Shares.

🎯 Federal Bank :
The bank said it would be raising funds by issuing debt securities, including non-convertible debentures, tier-ll bonds, long-term bonds, masala bonds and green bonds upto 4000 crores.

🎯 Cairn :
Cairn moves intl panel for injuction against I-T Dept.

🎯 Hero Motocorp :
Hero Moto Corp phases out select models, variants.

🎯 SREI Infra :
SREI Infra and Russian firm to create 200mn $ innovation fund.

🎯 GVK, Lanco :
Gvk & Lanco plan lose money as adani plans to develop a new mine.

🎯 MTNL :
MTNL mulls monetising its real estate assets.
Positive for the stock.

🎯 ONGC :
ONGC to start drilling at Cluster 2 of Krishna Godavari block in Nov.

🎯 Videocon :
Videocon lenders to accompany govt. delegation to resolve issues with Petrobras.

🎯 ICICI Bank :
Bank backed debt fund to raise 3000 crore.

🎯 Piramal Enterprises :
Piramal Enterprises hires three investment banks for 5000cr qip.

🎯 Max :
IRDA denies permission to the merger.
Negative for the stock.

🎯 Cipla :
Cipla arm Saba Invst Enters Into Agmt To Sell Its Entire 99% Stake In Yemen Based-Al Jabal.

🎯 Electrosteel Steels :
Says no Communication From Lenders On Further Dvpt Of SDR/Non-SDR Process.

Edited by Sharp.
© Sharp Investment & Financial Advisers

8th June, Morning Brief

Market may open positively tracking SGX Nifty.
Yesterday, market ended on a positive note after the RBI kept the REPO rate unchanged at 6.25 %, mostly in line with expectations. 

The Nifty50 formed a ‘Doji’ pattern on the daily chart. It shows the possibility consolidation unless it gives breakout above 9710. A support can be considered at 9470-9500 levels.

🎯 News & Impact 🎯

🎯 Cyient :
The company announces expanded strategic relationship with United Technologies Corp.
Positive for the stock.

🎯 Biocon :
Biocon fixed 17th June as record date for Bonus Equity Shares.
Positive for the stock.

🎯 Reliance Capital :
Rel Capital Approves Listing Of Reliance Nippon Life AMC.
Reliance Nippon Life AMC Plans To Dilute 10% Stake In The First Tranche

🎯 Tata Power :
ICRA downgrades Tata Power to AA- from AA.
Cautious over the stock.

🎯 Amtek Auto :
BM on 3rd June to consider issue of shares of preferential basis.

SEBI approves Asian Star's acquisition of 5% Equity Shares in Indian Commodity Exchange Limited

🎯 Indiabulls Ventures :
IB Ventures commences Consumer Finance Business, Net worth increased to 1000 crore.

🎯 Edelweiss :
Edelweiss issues its maiden unsecured Perpetual Bond aggregating to Rs 300cr

🎯 Healthcare Global :
HC Global launches 125 bed cancer centre in Nagpur.

🎯 Tata Communications :
A safety device to alert a company when its women employees reach home using the company cars is just one of the Internet of Things (IoT) devices that Tata Communicationsis working on. The company plans to launch a staggering 50 million such devices by 2022, with the aim of capturing 10-15 per cent of the market that has about 150 million devices currently and is growing 28 per cent annually. 
Positive for the stock.

🎯 Zensar Technologies :
Zensar sets up R&D centre in Pune campus , Plans one in US.

🎯 Reliance Communications :
Reliance Communications on Wednesday rejected the latest ratings downgrades by Moody’s and Fitch done a day earlier.

🎯 Kotak Bank :
Kotak Mahindra Bank to riase 5k cr to shore up capital.

🎯 PFC :
Power Finance plans foray into T&D space.

🎯 Piramal Enterprises :
Piramal enterprises to extended funds 1100cr to Embassy group.

🎯 Gujarat Pipavav :
Gujarat Pipavav Ports put up for sale by APM terminals.

🎯 Coal India :
The company is looking to diversify its operations in the face of long-term uncertainty for coal because of the government’s thrust on renewable energy and considering entering mining of metals and minerals. 
Positive for the stock.

🎯 M&M :
M&M Says Mahindra Vehicle Sales Now Subsidiary Of Mahindra Automotive North America.

🎯 Petronet LNG Ltd. :
GDF International will sell its entire 10 percent stake in India's Petronet LNG Ltd in block trades on Thursday for up to $512 million.

🎯 IOC, BPCL, Hind Petro :
Sources Say Dynamic Pricing For Petrol & Diesel Likely To Be Introduced In 2nd Fortnight Of June.

🎯 Endurance Technologies :
Co. planning to expansion of alluminum die casting plant, to expand from 8161 MT to 12,250MT.
Current capacity utilization is 79.5%, To invest 9.1cr, All financing from internal accruals.

Edited by Sharp.
© Sharp Investment & Financial Advisers

7th June, Morning Brief

Market may open flat and react over RBI Policy Outcome.
The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, has begun its 2-day meeting expecting to hold key rates the same.
The IMD has upgraded its monsoon forecast from 96% forecast on April 18 to 98% on Tuesday. 

🎯 News & Impact 🎯

🎯 RCom :
Moddys revises rating to Ca from Caa1.
Fitch revises rating to RD from CCC.
Cautious over the stock.

🎯 Yes Bank :
Shareholders approve increase in borrowing limit to Rs.70,000 crore from Rs.50,000 crore.
Shareholders approve fundraising up to Rs.20,000 crore via non-convertible debentures (NCDs)

🎯 Adani Enterprises :
Stake in Adani Green Energy diluted to below 50 %.
Adani Green ceases to be a unit of Adani Enterprises.

🎯 Oil India :
Makes hydrocarbon discovery in Baghjan, Assam.
Discovered fields put on regular production.

🎯 Sical Logistics :
Receives letter of acceptance by Mahanadi Coal Fields for extraction, order value Rs.289 crore for 3 years.

🎯 Meera Industries :
Meera Industries wholly owned subsidiary company in the name and style of Meera Industries USA LLC, formed in North Carolina State of USA

🎯 Rattan India Infra :
Rattan India says open offer for acquisition of up to 35 crore shares by a number of buyers.

🎯 Rattan India Power :
The company says 32 crore warrants held in company by Yantra Energetics Private Limited stand lapsed.

🎯 ONGC :
ONGC may buy out entire government's stake in HPCL.
Positive for the stock.

🎯 Bhushan Steel : 
Serious Fraud Investigation Office begins probe into 2 Bhushan group companies.
Negative for the stock.

🎯 GE Shipping :
GE Shipping says no significant capex in FY18.

🎯 Vivimed Lab :
The company gets zero US FDA observations for API facility at Sant Celoni, Spain.
Positive for the stock.

🎯 Lakshmi Vilas Bank :
The bank appoints BK Manjunath as part-time chairman of the bank.

🎯 Canara Bank :
The bank cuts MCLR by 0.05 percent for various maturities.

🎯 Adani Power :
The board approves slump sale of Mundra Power business to subsidiary Adani Power (Mundra).

Edited by Sharp.
© Sharp Investment & Financial Advisers

6th June, Morning Brief

Markets are likely to open on a flat note tracking SGX Nifty.

🎯 News & Impact 🎯

🎯 ICICI Bank :
ICICI Bank said, it will sell a part of its stake in joint-venture firm ICICI Lombard General Insurance Company Ltd through an Initial Public Offer.

🎯 Abirla Nuvo :
National Co Law Tribunal Approves Merger Of AB Nuvo With Grasim.
Approves Listing Of AB Fin Services likely in August.

🎯 SBI :
SBI Opens Issue For Receiving Bids For Capital Raising.
SBI QIP Floor Price At Rs.287.58/Share For Issue To Raise Rs.15,000 Cr Via Sale Of 522 m Shares.
Bankers On QIP Include BofA-ML, Kotak, Deutsche, IIFL, JM Fin, SBI Caps.
LIC Likely To Be The Single Largest Investor In SBI QIP Worth Over Rs.7,000 Cr Via QIP.

🎯 Adani Power :
The board of Adani Power will meet on Tuesday to consider hiving off its flagship Mundra power station to a new subsidiary in which a Gujarat government entity may take a majority stake.

🎯 Tata Motors :
Tata Motors To Appoint COO To Oversee Domestic & International Ops.
Tata Motors CV Biz Executive Director Ravi Pisharody To Step Down.
Satish Borwankar Appointed As Tata Motoers COO With Immediate Effect.

🎯 Cadila Healthcare :
Cadilahc's facility at Baddi receives Establishment Inspection Report from USFDA.
Cautious on the stock.

🎯 ITC :
ITC would sell premium fruits and vegetables and pricey processed foods, competing directly with existing retailers and newage grocers such as Amazon Fresh, hastening its transformation into one of India’s most diversified consumer companies from just the country’s biggest cigarette maker. 

🎯 PFC :
The company has offered a RS.3,600-crore loan to four distribution companies of Uttar Pradesh to help them lay infrastructure for new connections. The three-year loan, the largest ever to be offered by the state-run financier to distribution companies, will help the state provide new connections to 11.4 lakh households in remote areas.

🎯 Gufic Bio Science :
Guficbio receives 2 patent certificates from the Patent Office, GOI.

🎯 Wipro :
Wipro clarifies no truth to Sale of Business.
Wipro Gets Shareholder Nod For Raising Share Cap To Rs.1,127 Cr.

🎯 IBRealest :
Indiabulls Real Estate proposes to issue NCD's aggregating Rs.75 crore, on a private placement basis.

🎯 Bharti Airtel :
The telcom major is in talks with Google for deployment of WiFI hotspots for the US internet major’s station WiFi service in India, a move that can help India’s top telco improve broadband experience as it fights to retain, if not add, subscribers amid intense competition. 

🎯 India Grid Trust : 
India Grid Trust, which recently concluded its Rs 2,250 crore initial public offering, is going to make its stock market debut on June 6. 

🎯 Capital First :
The company approved allotment of NCD's aggregating to Rs.50cr.

🎯 Everest Organics :
USFDA inspects Manufacturing Facility at Aroor Village and approved the facility.

🎯 Manugraph :
India says USA subsidiary files for voluntary bankruptcy.

🎯 CARE :
Rating agency plans 10% share buyback

🎯 Jet Airwyas :
Jet Airways faces safety audits.

🎯 HPCL to raise 27000 cr for Rajasthan refinery.

🎯 NALCO :
Nalco eyes domestic expansion as it puts Iran project on hold.

Edited by Sharp.
© Sharp Investment & Financial Advisers

5th June, Morning Brief

Market is likely to open in green tracking SGX Nifty, up by 38 points.

After a gap-up opening, the bulls failed to build on to the opening thrust on Friday, suggesting lack of conviction or clarity among the bulls at higher levels. It's very important to see today's closing whether it will sustain on higher levels after positive opening.

Alert : RBI Credit policy on 7th June.

🎯 News & Impact 🎯

🎯 Bank of India :
Saddled with bad loans, Bank of India is exploring the possibility of selling stake in some subsidiaries to unlock capital and turn the corner.

🎯 Wipro :
Keen to start up Big things, deploys 24.5mn$
PremJi's salary drops 63% in FY17.
Positive for the stock. 👍

🎯 Lupin :
US FDA Inspected Lupins Indore Unit On May 8-19.
US FDA Observations:
Lupin Indore Facility Failed To Review Discrepancies In Pdts.
Lupin Indore Ops Did Not Have Written Norms For Mfg Process.
Negative for the stock. 👎

🎯 Satin Credit Care :
Satin Credit Care Raises Rs.100 Cr Via Commercial Paper Issue From M&M Fin.
Satin Credit Care Raises Rs.100 Cr At 10% Per Annum For 3-6 Months.

🎯 Titan :
3% GST Rate On Gold A Very Welcome Move, Step In The Right Direction, says CFO.
Need Some Clarity On Excise-Free Zones For The Watches Business.

🎯 Tata Communications :
Bahrains Batelco & Tata Comm Sign Agmt To Expand The Reach Of Their Global Connectivity & Data Centre Solutions For Customers.

🎯 NTPC :
17 MW out of 250 MW of Mandsaur Solar Power Project has been commissioned.

🎯 Hinduja Global Solutions :
The company announced a leadership change for its UK and Europe business.

🎯 Canfin Homes :
BM on June 23rd to consider sub division of equity shares.
Positive for the stock. 👍

🎯 JSW Steel :
A consortium led by JSW Steel raised its bid for Italy's troubled Ilva steel plant. But whose offer faces labour union opposition.

🎯 NBCC :
The state-run National Building Construction Corp (NBCC) hopes to raise Rs 12,000 crore through e-auction of 11 commercial towers in South Delhi.

🎯 GVK Power :
GVK Power approves sale of corresponding 10% of the issued & paid up share capital in Bangalore International Airport Limited.

🎯 NECC :
Logistics firm North Eastern Carrying Corporation is embarking on an expansion drive with plans to double its reach to 500 locations across India in the next three to four years to tap opportunities after GST implementation.

🎯 Puravankara :
Real estate firm Purvankara will invest Rs. 750 crore on construction of ongoing projects in the current fiscal and is looking for joint venture partners to expand business. 

🎯 Mawana Sugars:  :
The company said it has agreed to enter into one time settlement with SBI in respect of borrowings from State Bank of Hyderabad. 

🎯 Uflex :
Flexible packaging major Uflex is foraying into aseptic liquid packaging segment besides adding more products as it aims an overall volume growth of 15 % this fiscal. 

🎯 Advance Enzymes :
Advance enzymes enters into definitive agreement to acquire Palm techno Ventures Enzyme.

🎯 RPP Infra Projects :
Promoters sold stake and would like to bring the money back in the form of debt and would like to convert debt into equity at a suitable time.

🎯 Selan Exploration :
Defers decision for Buyback of shares.
Cautious on the stock.

🎯 Alankit :
Open offer for 37% of the equity.

🎯 Vedanta :
Ind-Ra revises rating to IND AA/ Stable.

🎯 VST Tillers :
Tractors May sales 800 units and power tillers 1857 units.

🎯 TCI :
TCI successfully incorporated a wholly owned subsidiary by the name, "TCI Nepal Private Limited" on 2nd June, 2017 in Nepal.

🎯 OnMobile Global :
The company announces the launch of ONMO Express in the USA, the company's first consumer App.

🎯 Andhra Bank/Allahbad bank :
Bad loans worth 6000 cr to be sold by Andhra/Allahbad bank.

🎯 SAIL :
Open to acquire good assets , says Chairman PK Singh.

🎯 Welspun Enterprises :
Delhi to rule on Welspun Maharashtra solar project.

🎯 Fortis :
IHH sole contender for Fortis Healthcare as other suitors drop out.

🎯 NTPC :
Gets waiver from buyback Fiat.

🎯 Ramco Cements :
The company appoints Ventarama Raja as CMD.

Edited by Sharp.
© Sharp Investment & Financial Advisers

2nd June, Morning Brief

SGX Nifty was up 41.50 points, indicating a positive start for the day.

🎯 News & Impact 🎯

🎯 Hindustan Petrolium : 
State-run HPCL has sought shareholders’ nod for issuing one bonus share for every two held, capitalising reserves of about Rs 508 crore. 
Positive for the stock. 👍

🎯 Bharti Airtel :
Gets SEBI & stock exchanges approval for merger with Telenor India.
Filed application with National Company Law Tribunal for nod to scheme of merger.
Positive for the stock. 👍

🎯 Hero Motocorp :
Commencement of commercial production at Bangladesh plant.
Sells 633,884 units in May 2017, up 8.7 % YoY.

🎯 May auto sales:

👉 Maruti :
Maruti Suzuki May 2017 dispatches were up 11% YoY  on the back of a strong 15.5% growth in the domestic markets; exports declined by 36.3%. The numbers were below estimates.
The compact segment segment volumes for the month were up by 4.3%, slower than the previous months primarily due to the transitionary impact of the Dzire. 
Cautious on the stock.

👉 Tata Motors :
Total JLR US sales up 13.9 % at 8,106 units versus 7,114 units (YoY).
Total Jaguar US Sales up 43.9 % at 3,113 units versus 2,164 units (YoY).
Total Land Rover US sales up 0.9 % at 4,993 units versus 4,950 units (YoY).
Positive for the stock. 👍

👉 TVS Motor :
Total sales up 16 % at 2.82 lakh units versus 2.44 lakh units (YoY).
2-Wheeler sales up 15.6 % at 2.75 lakh units versus 2.38 lakh units (YoY).
3-Wheeler sales up 20.5 % at 6,581 units versus 5,463 units (YoY).
Total exports up 14.3 % at 40,617 units versus 35,545 units (YoY).
2-wheeler exports up 11 % at 34,899 units versus 31,434 units (YoY).
Motorcycle sales up 22.3 % at 1.18 lakh units versus 96,485 units (YoY).
Scooter sales up 30.9 % at 85,681 versus 65,434 units (YoY).
Positive for the stock. 👍

👉 Eicher Motors :
Eicher Motors 2 wheeler division (Royal Enfield) dispatches for the month of May 2017 were up 25% YoY to 60,696 units.
Positive for the stock. 👍

👉 Escorts :
The domestic tractor volumes were up 28.9% YoY on the back of Normal monsoon forecast and a good Rabi crop season.
Positive for the stock. 👍

👉 Ashok Leyland :
Ashok Leyland May 2017 sales volumes dipped 8.1% YoY to 8071 units on account of a sharp decline of 17.8% YoY in the MHCV sales attributable to supply constraints of the components for the new BS 4 emission norms and postponing of purchases post the GST implementation.
The LCV Sales however were up impressively by 21.9% YoY attributable to a demand improvement as the Hub and spoke model gathers tractions.

🎯 Reliance Communications :
Fitch Ratings has revised Rcom's long-term foreign and local-currency issuer default ratings (IDRs) to 'CCC' from 'B '.
Negative for the stock. 👎

🎯 Bank India :
Weighed down by sticky loans and net losses, the state-run BOI has decided to go for one-time settlements (OTS) of loans with errant borrowers as one of the key recovery strategies.

🎯 L&T, Reliance Infra, ILFS and Jaiprakash Ventures :
These companies are in the race for the Government of India’s ambitious Rs 10,000-crore project to build the Zojila tunnel connecting Srinagar and LehLadakh, two sources told ET.
Stocks to watch.

🎯 Bayer Cropscience :
The board meeting on June 6 to consider buyback

🎯 Hindustan Copper :
The company inaugurated Banwas Mine located at Khetri Copper Complex, production capacity of the mine is 6 lakh tonne per annum of copper ore.

🎯 Steelco Gujarat :
The company commences commercial production of new color coating line, introduces pre galvanized iron coils and sheets.

🎯 NBCC :
NBCC e-auctioned upcoming commercial and office space, sees inflow of Rs 1,100 crore in Stages.

🎯 Abirla Nuvo :
NCLT approves scheme of arrangement between Aditya Birla Nuvo, Grasim and Aditya Birla Financial Services.
Stocks to watch.

🎯 Cipla :
Cipla Vet and Cipla Agrimec cease to be step down subsidiaries of Cipla.

🎯 NDTV :
NDTV to suspend current trading hours programming on NDTV Profit.

🎯 Manugraph :
Manugraph's employees go on strike w.e.f June 1.

🎯 Hotel Leela :
America's Marigold Capital may check into Leela Chennai.

🎯 ONGC :
ONGC likely to buy government's stake in HPCL.

🎯 SREI Infra :
The company says to ink USD 500 million venture with Russias VEB.

🎯 HDFC :
Housing Development Finance Corporation buys 15 % stake in Tanzania's first housing finance company.

🎯 Yes Bank, ICICI Bank, Axis Bank in focus:
SEBI seeks clarification from these banks on NPA issue.

🎯 Bosch :
Baidu & Bosch sign strategic agreement to deepen cooperation in automated driving.

Edited by Sharp.
© Sharp Investment & Financial Advisers