20th June, Morning Brief

Market likely to open on a flat note with positive bias following SGX Nifty.

On Wall Street, the Dow and S&P500 settled at record high as Apple, Facebook and other tech shares posted strong gains. 

🎯 News & Impact 🎯

🎯 Auropharma :
Aurobindo Pharma gets US FDA nod for Aurovela tablets (an orally active estrogen).
Positive for the stock. 👍

🎯 Biocon :
Biocon allots bonus shares in the ratio of 1:2.
Positive for the stock. 👍

🎯 OBC :
Brickwork ratings revises rating on upper tier II bonds to A from AA-
Positive for the stock. 👍

🎯 Larsen & Toubro (L&T) :
Global financial services firm Macquarie maintained ‘Outperform’ on L&T with a target price of Rs 2,125. 
Positive for the stock. 👍

🎯 Aviation stocks :
Airline major SpiceJet, IndiGo and Jet Airways will remain in focus on Tuesday after passengers carried by domestic airlines grew by close 18 per cent to 465.87 lakhs during January-May 2017 as against 396.04 lakhs in the corresponding period of previous year, according to the performance report of the domestic airlines released on Monday. 
Positive for the stocks. 👍

🎯 Vedanta :
Mining major Vedanta said its gross debt has come down by over Rs.4,000 crore during the 2016-17 fiscal and further reduced by Rs 6,200 crore since April 1 this year. 
Positive for the stock. 👍

🎯 ONGC :
OVL shortlisted for oil, gas field auction in Mexico.
Positive for the stock. 👍

🎯 Fortis Healthcare :
Fortis promoter sold 2 million shares of company via open mkt on Friday.
Caution over the stock.

🎯 Relinfra :
Relinfra , IL&FS in race for upgrading 5 railway stations in Mumbai.
The Supreme Court on Monday rejected Delhi Metro Rail Corporation’s plea to stay a Delhi High Court order asking it to pay Rs 60 crore to Delhi Airport Metro Express Private Limited (DAMEPL), a Reliance Infrastructure subsidiary.
Negative for the stock. 👎

🎯 Ashoka Buildcon :
SBI Macquarie looks to exit Ashoka arm.
Negative for the stock. 👎

🎯 Tata Motors :
Tata Motors Ltd said on Monday it had no plans to list its luxury British car brand Jaguar Land Rovee after Bloomberg reported that the automaker was considering an initial public offering of the unit.

🎯 Lanco Infratech :
Lanco Infratech is the first firm from the blacklist to face bankruptcy action.

🎯 Edelweiss :
Edelweiss arm files bankruptcy case against Mumbai realtor Kohinoor

🎯 Gail :
Cancels tender over policy to buy local steel.

🎯 GMR Infra :
To buy a team in South Africa T-20 cricket league.

🎯 Wipro :
Shareholders of software major Wipro approved two resolutions of its board to increase the authorised share capital and issue bonus shares through postal ballot and by electronic voting, said the company on Monday. 

🎯 Bhusan Steel :
Bhushan Steel & Bhushan Power receive Insolvency and Bankruptcy Code notice; PNB to hold joint lenders forum On June 22: Sources.

🎯 Advance Enzyme Technologies :
Company said it is eyeing inorganic growth through acquisitions and targeting Rs 1,000-crore turnover in the next five years. The research-driven company is looking for acquisitions in Europe and North America.

Edited by Sharp.
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