14th July, Morning Brief

Market will open on higher note as SGX Nifty is trading at 9914, up by 20 points.

Bulls tightened their grip on Dalal Street, with frontline gauges extending their record hitting streak for fourth straight session with Sensex conquering 32,000 mark, while Nifty settled just short of 9,900 mark.

Lower inflation figures definitely opened the chances to cut the interest rates in coming months.

🎯 News & Impact 🎯

🎯 Results Today :
Infy, Bhansali Engineering.

🎯 TCS :
Dollar revenue up 3.1 % at USD 4,591 million versus USD 4,452 million (QoQ).
Rupee revenue down 0.2 % at Rs.29,584 crore versus Rs.29,642 crore (QoQ).
Net profit down 10 % at Rs.5,945 crore versus Rs.6,608 crore (QoQ).
TCS said Forex fluctuation led to Rs 650 crore loss in reported revenue.
Negative for the stock. 👎

🎯 Cyient :
Cyient has posted a 18.7 % rise in its June quarter net at Rs.87.8 crore from the Rs.74 crore in the year-ago period. 
The company's total income rose 8.6 % to Rs.907 crore during the reporting quarter.
Negative for the stock. 👎

🎯 Biocon :
US FDA advisory committee recommends approval of Biocon, Mylan's biosimilar.
Positive for the stock. 👍

🎯 Cadila Healthcare :
Zydus gets tentative US FDA nod for Fingolimod capsules.
Positive for the stock. 👍

🎯 Zee :
NCLT has approved the composite scheme of arrangement between the company and Reliance Big Broadcasting for demerger of the general entertainment broadcast business.
Positive for the stock. 👍

🎯 GTPL Hathway :
Company acquires remaining 49 percent stake in GTPL TV Tiger, making it a wholly owned subsidiary.
Positive for the stock. 👍

🎯 PNB Housing Finance :
CRISIL revises rating on loan facilities to AA /stable from AA /negative.
Positive for the stock. 👍

🎯 ILandFS :
Blackstone in talks to buy USD 525 million IL&FS Realty Fund.
Positive for the stock. 👍

🎯 Max Life :
HDFC Life may call off merger plan with MaxLife, focus on IPO.
Negative for the stock. 👎

🎯 Bhusan Steel :
SBI & PNB initiate proceedings against Bhusan steel, Power.
Negative for the stock. 👎

🎯 Blue Star :
Blue Star has tied up with Comfort Solutions for distribution of unitary products. 

🎯 Ramkrishna Forging :
QIP opened on July 13, floor price of Rs. 523 per share.

🎯 Pricol :
acquires 100 percent of the wiping systems business of Ashok Piramal group's PMP Auto Components Private Limited.

🎯 GVK :
completes sale of its residual stake of 10 percent in Bangalore Airport for Rs 1,290 crore.

🎯 ICICI Bank :
ICICI Group buys stake in Infibeam for Rs 11 crore. Snapdeal may merge with Infibeam to create USD 2 billion company.

🎯 Tata Group :
Tata group in talks with 21st Century Fox to sell Tata Sky.

🎯 Tata Steel :
Tata Steel seeks shareholders nod to raise Rs 10,000 crore. 

🎯 Monnet Ispat  :
JSWs offer to buy Monnet Ispat stake was not good enough, SBI tells NCLT.

🎯 L&T :
Blackstone set to buy 1 million square feet from L&T Realty for Rs 1,000 crore.

🎯 Kwality :
SEBI slaps Rs 12 lakh on Kwality and 5 promoters for violating disclosure procedures.

Edited by Sharp.
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