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