23rd June, Morning Brief

Market may open on a flat note tracking SGX Nifty.
It will be interesting to see whether Nifty will bounce back after yesterday's fall or continue to slide.

🎯 News & Impact 🎯

🎯 Infosys, TCS :
Accenture cuts guidance
FY17 guidance lowered to 6-7 % from 6-8 %.
Guidance lowered due to softness in healthcare and North America.
Q3 organic growth slowed to 4.5 % from 5.5 % in Q2.
Increased acqusition outlay to USD 1.8 billion in FY17.
Negative for the stocks. 👎

🎯 Reliance :
and partner BP have withdrawn the gas price-related arbitration against the government, paving the way for the companies to claim the premium price for output from deep-sea fields in which they plan to invest Rs 40,000 crore. 
Positive for the stock. 👍

🎯 Idea & Bharti Airtel :
Manoj Sinha assures telecom companies of corrective steps.
Positive for the stocks. 👍

🎯 Wockpharma :
Settles with Teva & its affiliate a commercial litigation in London HC.
Settles commercial litigation for Trisenox with Teva in London HC.
Positive for the stock but may impact on stock price. 👍

🎯 Fortis Healthcare :
Malaysia’s healthcare services provider IHH Healthcare Berhad on Thursday said it is not close to “concluding any negotiations” to buy controlling stake in Fortis Healthcare. 
Negative for the stock but can invest.

🎯 Zenith Computers :
Bankruptcy process started against the company.
Negative for the stock. 👎

🎯 Tata Power :
To continue exploring options for long term sustainability of Mundra plant.
Bankers suggested procurers to buy 51 % in Mundra on back to back basis.

🎯 Jet Airways : 
Budget carrier Jet Airways on Thursday announced expansion of its codeshare partnership with Air France, KLM Royal Dutch Airlines, and Delta Air Lines. Under the expanded pact, the carriers will expand choice and connectivity options for guests flying between India and Europe.

🎯 Mahindra & Mahindra :
Global brokerage firm Credit Suisse maintained ‘Outperform’ rating on Mahindra & Mahindra with a target price of Rs 1,530.

🎯 Tata Motors :
Tata Motors is set to save Rs.300-400 crore in what’s termed the biggest restructuring exercise in the history of the company. The recast of the white-collar workforce has resulted in 1,200-1,300 employees getting reassigned, shifted to other units or asked to leave. The company has also slashed 2,500 positions, by eliminating a plethora of designations, all of which will add to the bottom line.

🎯 Quess Corp :
The company enters into definitive agreement to acquire 51 percent shareholding in Comtel Pro.

🎯 Shriram EPC :
Shriram EPS bags orders worth Rs.165 crore under water management business

🎯 IB Realty :
India bulls Realty to issue non-convertible debentures (NCDs) worth Rs. 500 crore.

🎯 Reliance Industries :
Homeshop 18 seen in talks with Shop CJ for merger.
Network 18, which is a part of Reliance Industries, owns Homeshop 18.

🎯 Rcom :
Global PE's back Reliance Communications' tower arm stake sale plan.

🎯 NTPC :
NTPC targets 250 billion unit power generation in FY18.

🎯 SBI :
SBICAP raises stake in Jindal Stainless due to creation of pledge by 2.34 % to 29.63 %.

🎯 Reliance Defence :
The company to partner with Daher for aerospace components.

🎯 Mindtree :
Mindtree to consider share buyback on June 28.

Edited by Sharp.
© Sharp Investment & Financial Advisers