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.
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