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
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