1st Aug. Morning Brief

Positive opening expected today.

Nifty has made a bullish candle on the daily charts suggesting that the market witnessed sustained buying interest from the Bulls for the most part of the trading day. 10050 will be the immediate support and 9990 will be the next support.

🎯 News & Impact 🎯

Results Today :
JSW Steel, Piramal Enterprises, Marico, Powergrid, EIH, Tajgvk, Tata investment are among companies announcing results today.

🎯 Tech Mahindra :
Rupee revenue at Rs.7,336.1 crore versus Rs 7,495 crore (QoQ).
Net profit at Rs.799 crore versus Rs.588 crore (QoQ).

🎯 Interglobe Aviation :
Net profit at Rs.811.1 crore versus Rs 591.7 crore (YoY).
Revenue at Rs.5,752.9 crore versus Rs 4,578.8 crore (YoY).

🎯 Siemens :
Net profit at Rs.162.9 crore versus Rs. 186.3 crore (QoQ).
Revenue at Rs 2,758.7 crore versus Rs. 3,051.2 crore (QoQ).

🎯 BEL :
Standalone net profit at Rs 125.3 crore versus Rs 36.1 crore (YoY).
Total revenue at Rs 1,803.1 crore versus Rs 927.8 crore (YoY).

🎯 ICICI Prudential :
SAT has raised objections against IRDAI order on merger with Sahara Life.

🎯 Max India :
The HDFC Life Insurance-Max merger plan was given a quiet burial on Monday after several weeks of uncertainty.
Negative for the stock.

🎯 Gail : 
The CCI is investigating at least seven cases of alleged abuse of dominance by GAIL in dealing with its customers.
Negative for the stock.

🎯 Persistent Systems :
Germany subsidiary enteres into an agreement with PARX Werk AG, Switzerland (PARX) to acquire PARX, a salesforce certified platinum partner in DACH Region.

🎯 Satin Creditcare :
Company has invested Rs.6.9 crore in its subsidiary 'Taraashna Services Limited.

🎯 Music Broadcast :
CRISIL has assigns 'A1 ' rating to the bank facilities of the company.

🎯 Vascon Engineers :
Company has received letter of award amounting to Rs.80.41 crore for civil construction of a residential building.

🎯 Sobha Developers :
Board meeting on August 4 to consider a proposal for buyback of equity shares of the company, for an aggregate amount up to Rs.62 crore.

🎯 Rohit Ferro :
Lenders seek new investor in Rohit Ferro.

🎯 TV Today Networks :
Ashish Kumar Bagga resigns as CFO

🎯 Aditya Birla Fashion :
Company seek shareholders nod to issue NCDs worth Rs 1,250 crore.

Edited by Sharp.
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