17th July, Morning Brief

Again a gap-up start will cheer the market as SGX Nifty is trading up by 38 points in this morning.

For the momentum to continue, Nifty has to continue to hold 9,810 - 9850 zone to witness an up move towards 9,950-10,000 zones while on the downside supports are seen at 9,810 then 9,750 mark.

Chinese economic data handily topped forecasts with second quarter GDP rising 6.9 % on the year. - Reuters.

🎯 News & Impact 🎯

🎯 Results Today :
ACC, Jubilant Foodworks, Prakash Industries, Hindustan Media Ventures, Linde India, Indian Metals.

🎯 DCB Bank :
Private sector lender DCB Bank reported a 38% rise in net profit for the first quarter of this year amidst a slight worsening of the quality of assets held by the bank. In a filing to the stock exchanges, the bank reported a net profit of Rs 65 crore against Rs 47 crore last year. 

🎯 Ujaas Energy :
Net Profit At Rs.10.8 Cr Vs Rs.13.8 Cr (YoY).
Total Income (RD)3% At Rs.162 Cr Vs Rs. 167 Cr (YoY).

🎯 Gruh Finance :
Net Profit At Rs.72.2 Cr Vs Rs.60.18 Cr (YoY).
Total Income At Rs.398.12 Cr Vs Rs. 346.34 Cr (YoY).

🎯 Karnataka Bank :
Net Profit At Rs.133.85 Cr Vs Rs.121.54 Cr (YoY).
Net NPA At Rs.1229.84 Cr Vs Rs.911.23 Cr (YoY) & `974.73 Cr (QoQ).

🎯 BPCL :
BPCL has bought a cargo containing 500,000 barrels each of Mars and Poseidon for delivery from September 26 to October 10, its first purchase of US oil. 

🎯 GTL Infra :
Global, local cos queue up to buy GTL infra.
Telecom tower company plans to complete sale by March next year.

🎯 Triveni Engineering :
Contesting Legal Case Before NGT On Alleged Pollution By Its Distillery Unit.
NGT Said Cos Muzzafarnagar Distillery Should Not Operate Pending Submission Of Action Plan.
Negative for the stock.

🎯 Wipro :
Board meeting on 20th July to consider buyback.

🎯 Tata Steel : 
The steelmakerhas emerged as the first steel company to enter into a Long Term Tariff contract (LTTC) with Indian Railways.

🎯 MOIL :
The company has signed an MoU with the steel ministry to meet production target of 12.50 lakh tonnes and a capex of Rs 205.80 crore in the ongoing financial year. 

🎯 Inox Wind :
Corporate Insolvency Resolution Process (CIRP) has been initiated against the Co.
Negative for the stock.

🎯 Alkem Labs :
Alkem labs received no Form 483 observations from USFDA after inspection at bioequivalence facility located at Taloja.
Positive for the stock.

🎯 ICICI Bank :
Subsidiary company, ICICI Lombard General Insurance Company has filed a DRHP with the SEBI for a public offer of up to 86,247,187 Equity Shares.
Positive for the stock.

🎯 Capital First :
Company raises Rs.475cr by issue of NCDs on private placement basis.

🎯 Alembic Pharma :
Alembic inaugurates Company's Anti-Cancer Manufacturing Facility at Panelav.

🎯 WPIL :
Board approves the proposal for acquisition of an Alloy and Stainless Steel Castings Foundry in Nagpur.

🎯 Adhunik Metals :
State Bank of India ('SBI'), the lead banker of the Adhunik Metals has initiated the 'Corporate Insolvency Resolution Process' against the co. on 11th July, 2017
Negative for the stock.

🎯 Lypsa Gems :
Board approves the Allotment of Bonus Shares in the ratio of 2:5.
Positive for the stock.

🎯 Cadila Healthcare :
Zydus receives Tentative Approval from the USFDA for Fingolimod Capsule.
Positive for the stock.

🎯 Indraprastha Gas :
Indraprastha gas receives permission from Director of Industries & Commerce, Haryana to lay Gas distribution network in Gurugram.
Positive for the stock.

🎯 Shreyas Shipping :
Shreyas Shipping signs MOA for Acquisition of one multipurpose vessel of about 1100 teus.

🎯 Akshar Chemicals :
QIP opened on 14th July, base price set at 816/share.

🎯 Patel Integrated Logistics :
Company approves cancellation of 2.7 lkh equity warrants allotted to non promoter.

🎯 Nocil :
Nocil board approves acquisition of 6.85 lkh of Mafatlal Ind (18cr) shares held by Navin Fluorine.

🎯 Linc Pens :
Company commenced commercial production of new manufacturing facility at Umbergaon, Gujarat.

🎯 GMR Infra :
Abudabhi investment authority looks to buy up to 49% in GMR's Hyderabad airport.

🎯 M&M :
M&M to soon open its manufacturing unit in US , make off road utility vehicles. Mahindra group to pump $1 bn in US over nect 5 years.

🎯 NBCC :
NBCC eyes 25% revenue growth in FY18.

🎯 HPCL :
HPCL to invest Rs.61000cr by 2021 on expansion projects.