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.
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