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.
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