28th June, Morning Brief

Market will open on negative note tracking SGX Nifty which was down by 23 points. Market may remains volatile ahead of derivative contracts' expiry of the June month.
Nifty witnessed a breakdown on charts as Nifty slipped below 9,500 in intraday trades, but bulls managed to push it above the crucial support level towards the close of the trade. As long as Nifty holds below 9,560 zone, weakness could prevail towards 9,480 and 9,450 while on the upside 9,580-9,600 zone is likely to act as a strong barrier on the immediate basis.

🎯 News & Impact 🎯

🎯 SBI: The nation’s largest lender SBI on Tuesday ruled out the additional provisioning towards the 12 largest NPA accounts which have been referred to insolvency proceedings denting the bottomlines very hard as most of the provisioning has already been done. 
Positive for the stock. 👍

🎯 Federal Bank :
Private lender Federal Bank on Tuesday raised Rs 2,500 crore through qualified institutional placement (QIP) route to fund its expansion plan.
Positive for the stock. 👍

🎯 TCS : 
The IT firm on Tuesday announced that TMX Group awarded TCS, the implementation of a single, integrated technology platform for Canada’s clearing and settlement businesses. The innovative platform, called TCS BaNCS for Market Infrastructure, will replace the legacy systems deployed by The Canadian Depository for Securities Limited (CDS) and Canadian Derivatives Clearing Corporation (CDCC), subject to regulatory approval where required. Technology integration across TMX Group's cash and derivatives clearing businesses is the next significant step in the company's evolution as a premier client-driven solutions provider to the Canadian and global capital markets. 
Positive for the stock. 👍

🎯 ONGC :
ONGC gets green nod to explore shale gas in KG basin.
Natural gas may be included in GST, which may benefit ONGC.
Positive for the stock. 👍

🎯 ABG Shipyard :
Liberty House in talks to buy in ABG Shipyard.
Positive for the stock. 👍

🎯 Cadila Healthcare :
The company aims to double US business in 3 years.
Positive for the stock. 👍

🎯 Country Club :
Board approves to sell off assets to reduce debt, current debt at Rs 407 crore (market capitalisation Rs 27 crore).
Positive for the stock. 👍

🎯 Fortis Healthcare :
Fortis’ diagnostic arm SRL is likely to list on bourses by August. 
Positive for the stock. 👍

🎯 Mindtree : 
Mid-tier IT firm Mindtree will consider the proposal of share buyback on Wednesday. 

🎯 Omax Autos : 
The company on Tuesday announced that it has closed manufacturing activities in its unit named Automax (A unit of Omax Autos Limited) situated at Delhi-Jaipur Highway, wef June 24, June 2017.

🎯 Sangam Advisors :
Sangam advisors has been awarded letter of award by Maharashtra State Power Generation Company for design, manufacturing and commissioning 2MV grid interactive solar plant.

🎯 OnMobile Global :
The company has secured a 3-year deal with Banglalink, one of the leading digital communications services providers of Bangladesh to provide Ringback Tones & Reverse Ringback Tones to its customers.

🎯 Arrow Greentech :
DSP Blackrock buys 4.7 lakh shares of Arrow Greentech at a price of Rs.530. 

🎯 Coal India :
Coal India receives high re-auction realisations in June.

🎯 Raymond :
Raymond to invest Rs 1,400 crore in its Maharashtra plant.

🎯 Ashok Leyland :
Ashok Leyland to focus on commercial vehicle business.

🎯 Jagran Prakashan :
Blackstone exits Jagran Prakashan.

🎯 Godrej Consumer Products :
Godrej Consumer products eyes acquisition in skincare segment.

🎯 Ibrealty :
Indiabulls real estate acquires entire minority stake of 10.08 % in unit Indiabulls Infraestate for Rs.358 crore.

🎯 Federal Bank :
Federal Bank QIP closes on Tuesday; QIP issue price at Rs.116 per share.

🎯 Capital First :
Capital First raises Rs.50 crore via issue of non-convertible debentures on a private placement basis.

🎯 Heromotoco :
LIC cuts stake in Hero Motocorp by 2.03 % to 5.14 %.

Edited by Sharp.
Sharp Investment & Financial Advisers