11th July, Morning Brief

Market will open positively as SGX Nifty is trading up 23 points.

Yesterday it turned out to be a fabulous day of trade for Indian equity markets, with bulls tightening their grip with frontline indices ending at all time closing highs. 

🎯 News & Impact 🎯

Results today: IndusInd Bank, South Bank, CCL Products.

🎯 Cadila Healthcare :
Zydus gets tentative US FDA nod for Lurasidone Hydrochloride tablets.
Positive for the stock. 👍

🎯 Alembic Pharmaceuticals :
Company receives USFDA tentative approval for Dabigatran Etexilate capsules.
Positive for the stock. 👍

🎯 SBI :
Board approves divestment of SBI's stake in SBI Life through an IPO; offer for sale of 8 crore shares.
Positive for the stock. 👍

🎯 Sugar stocks :
The government increased import duty on sugar to 50 per cent to curb dumping of the commodity in India as international prices fell. The industry expects the move to prevent a build-up of arrears in payments to sugar cane farmers in the next season starting October 2017.
Negative for the sector. 👎

🎯 Jet Airways :
Global carriers, PE hover around to acquire 24 percent stake.

🎯 Bharti Airtel : 
Bharti Airtel announced the launch of Project Next - its digital innovation program aimed at transforming customer experience across all of its services and touch points. 

🎯 GSFC :
Gujarat State Fertilizers & Chemicals (GSFC) announced an emergency shutdown of ammonia-IV plant on July 6, 2017 due to detection of leakage of high pressure process gas from hot header of reformer box.

🎯 Bajaj Electricals :
Acquires 28 percent equity shares in Starlite.
Shareholding of company in Starlite Lighting rises from 19 % to 47 %.

🎯 Reliance Power :
The company said it has redeemed and paid interest in respect of its 2500 –10.20% unsecured redeemable non-convertible debentures series I (2016) of Rs 10 lakh each aggregating to Rs 250 crore on the due date 10 July 2017.

🎯 Cyient :
Cyient said it has subscribed to 49 per cent of share capital of a newly incorporated company Cyient Solutions and Systems.

🎯 Patel Integrated Logistics :
Company signs letter of intent to acquire a warehouse of 35000 square feet carpet area in Gujarat on 30-year lease basis with Sumar Logistics & Industrial Park.

🎯 Gallantt Metal :
Ind-Ra affirms A- rating to company's long term borrowing.

🎯 Accel Frontline :
Company completes sale of entire shareholding in Accel systems, Singapore to Starhub.

🎯 Ramco Systems :
ICRA reaffirms the long term and short term credit ratings for bank facilities.

🎯 OBC :
Oriental Bank of Commerce revises 1-year MCLR rate to 8.45 percent from 8.5 percent.

🎯 GTL : 
GTL comes clean in audit, lenders to settle debt.

🎯 DCB Corp :
DCB Corp in talks to sell 2520MW power arm to Tata Power, CDPQ, ICICI venture.

🎯 Lanco Infratech :
Company encashes suppliers bank guarantees.

🎯 Inox wind & Suzlon :
GST concerns delay renewable auction in Gujarat: FE

🎯 IOC :
Lanzatech sign statement of intent to construct gas-to-bioethol production unit in India.

🎯 SpiceJet :
SpiceJet's former promoter, Kalanithi Maran of Sun Group, has sought over Rs 2,000 crore compensation from current promoter Ajay Singh and the airline for allegedly causing losses by failing to honour contractual obligations.

Edited by Sharp.
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