21st June, Morning Brief

Market will open negatively with a gap as SGX Nifty is down by 33 points.

🎯 News & Impact 🎯

🎯 ABB :
ABB, the Swedish-Swiss multinational, is in discussions with Larsen & Toubro to acquire its electrical and automation division. The division that generated revenues of Rs 4,650 crore and operating profit of a little over Rs 700 crore in 2016-17 is expected to be valued at Rs 14,000-18,000 crore.
Positive for the stock. 👍

🎯 Adani Ports :
Adani Ports and Special Economic Zone (APSEZ), India’s largest ports company, plans to raise at least $500 million through overseas bond sales and use the proceeds to refinance some current loans and fund expansion.
Positive for the stock. 👍

🎯 Astrazeneca Pharma :
Received marketing authorisation from the Drug Controller General of India (DCGI) for Symbicort, a medicine used for treatment of asthma. 
Positive for the stock. 👍

🎯 L&T :
Gets Rs 287 crore EPC contract from NHPC.
Gets EPC contract for development of 50MW solar power project in Tamil Nadu.
Positive for the stock. 👍

🎯 Tech Mahindra :
TechMarm LCC Middle East to sell LCC Pak to Swiss company Talkpool for USD 5.2 million.
Positive for the stock. 👍

🎯 NHPC :
Moodys assigns Baa3 rating to NHPC, outlook positive.
Positive for the stock. 👍

🎯 Sun Pharma :
Sun Pharma's subsidiary Taro gets US FDA nod for anti-convulsion drug, Felbamate.
Ranbaxy gets US FDA's REMS nod for acne prevention drug, Absorica tablet
Positive for the stock. 👍

🎯 Dr Reddy's Lab :
Dr Reddy's lab gets US FDA's REMS (risk evaluation & mitigation strategy) nod for acne prevention drug, Zenatane capsule.
Positive for the stock. 👍

🎯 Auropharma :
Aurobindo Pharma gets tentative US FDA nod for diabetes drug, Linagliptin tablet.
Positive for the stock. 👍

🎯 Canara Bank :
State-owned Canara Bank has decided to sell nearly 9 per cent stake in the credit ratings firm CARE Ltd that could fetch it over Rs 393 crore.
Positive for the stock. 👍

🎯 Nestlé :
The company has bought a minority stake in the ready-to-eat meal service Freshly as the global food giant moves to expand its distribution network. The move comes a week after the world’s largest packaged food maker said it may sell its US candy business, which includes Butterfinger candy bars and Raisinets. The investment also comes on the heels of Amazon's plan to buy Whole Foods for $13.7 billion, potentially transforming the market for retailers and grocers.
Positive for the stock. 👍

🎯 JK Paper :
Ind-Ra upgrades long term issuer rating to A- from BBB.
Positive for the stock. 👍

🎯 Spicejet :
Spicejet places USD 1.7 billion order for 50 Bombardier Q400 planes.
Positive for the stock. 👍

🎯 Rcom :
The company to speed up realty monetisation.
Positive for the stock. 👍

🎯 Ashok Leyland :
Hinduja Leyland defers IPO plan.
Positive for the stock. 👍

🎯 Eicher Motors :
Royal Enfield ties up with 4 custom bike companies.
Positive for the stock. 👍

🎯 Inox Wind & Suzlon Energy :
Andhra Pradesh signs power purchase agreements, now wants 25 percent price cut.
Negative for the stocks. 👎

🎯 IOC :
IOC has been losing Rs 1 crore daily since February as an agitation in Kerala has hit its planned Rs 2,200 crore liquefied petroleum gas (LPG) import terminal and pipeline project.
Negative for the stock. 👎

🎯 Idea Cellular :
Idea Cellular’s revenue and Ebitda (earnings before interest, taxes, depreciation & amortisation) estimates for FY18 and FY19 have been cut following a sharp 27 per cent fall in the company’s incremental revenue market share in FY17, high contingent liabilities and a hefty repayment burden over the next three years, brokerage CLSA said in a note seen by ET. 
Negative for the stock. 👎

🎯 Monnet Ispat :
Lenders group gives assent to file application under Insolvency & Bankruptcy Code for Monnet Ispat.
Negative for the stock. 👎

🎯 GMR Infra :
To bid for airport in Serbia, Jamaica

🎯 Raymond :
Raymond targets Europe, US for stitched garments.

🎯 Kirloskar Oil :
Company okays proposal for acquisition of 100 percent equity shares of La-Gajjar Machineries.

🎯 Reliance Defence :
Reliance Defence files ammunition pact woth Serbia.

🎯 Uco Bank :
State-run Uco Bank may require Rs. 3,000-4,300 crore of tier 1 capital in the FY2018 and FY2019 to cover the losses for the last two years. Downgraded bank's bond programme by ICRA.

🎯 ICICI Bank :
ICICI Bank approved the proposal for fund raising by way of issuance of senior unsecured long term bonds in the nature of debentures in single/multiple tranches on private placement basis. 

🎯 Piramal Enterprises : 
The company on Tuesday said it has raised Rs 600 crore via issue of securities. 

🎯 Captain Polyplast :
Captain Polyplast to start new manufacturing plant at Kurnool district, Andhra Pradesh.

🎯 Magma Fincorp :
Magma Fincorp approves scheme of merger with Magma Advisory.

🎯 Somany Ceramics :
Company issues commercial paper of Rs 40 crore.

🎯 Bajaj Corp :
To raise Rs 1,000 crore.

🎯 Axis Bank :
Axis bank plans to sell its stake in Mswipe.

🎯 Abirla Nuvo :
Aditya Birla Nuvo merger with Grasim to be effective from July 1.

Edited by Sharp.
© Sharp Investment & Financial Advisers.