20th July, Morning Brief

Market likely to open on a flat note with a positive bias as positive closing in US markets and positive start by Asian markets.

The index formed a strong bull candle on the daily candlestick charts on Wednesday. A strong bull candle on the daily charts and the crossing of 5-days exponential moving average (DEMA) on a closing basis is a positive sign for the bulls.

🎯 News & Impact 🎯

🎯 Results Today :
Reliance Industries, Wipro, Kotak Mahindra Bank, Hindustan Zinc, RBL Bank, Bajaj-Auto.

🎯 Canara Bank :
Net Profit (GU)9.9% At Rs.251.6 Cr Vs Rs.229 Cr (YoY).
NII (GU)17.6% At Rs.2,713.2 Cr Vs Rs.2,307 Cr (YoY).
Gross NPA At 10.56% Vs 9.63% (QoQ).
Gross NPA At Rs.37,658 Cr Vs Rs.34,202 Cr (QoQ).
Provisions At Rs.2,204 Cr Vs Rs.2,709 Cr (QoQ) Vs Rs.1,493 Cr (YoY)

🎯 Bajaj Finserv :
Cons Net Profit (GU)21.9% At Rs.655.1 Cr Vs Rs.537.5 Cr (YoY).
Cons Revenue (GU)25.7% At Rs.6,581 Cr Vs Rs.5,234 Cr (YoY).
Positive for the stock. 👍

🎯 KPIT Technologies :
Cons Net Profit At Rs.55.5 Cr Vs Rs.53.7 Cr (QoQ).
Cons Total Income At Rs.882.4 Cr Vs Rs.859.7 Cr (QoQ).

🎯 ONGC - HPCL :
Cabinet Gives ONGC In-principle Nod To Buy Govts Stake In HPCL. HPCL To Remain As An ONGC Subsidiary.
Positive for the stocks. 👍

🎯 Godrej Industries :
Files DRHP for Godrej Agrovet.
Positive for the stock. 👍

🎯 Indigo :
IndiGo to pare promoters stake in airline to meet regulatory norm.
Current promoters holding at 85%
Positive for the stock. 👍

🎯 Aviation Stocks(Jet, InterGlobe, Spicejet) :
Domestic air traffic registered a 20 per cent growth with domestic carriers ferrying 95.86 lakh passengers in June as compared to 79.75 lakh travellers during the corresponding period last year, as per air traffic data . IndiGo has retained its tag as the market leader.
Positive for the stocks. 👍

🎯 TCS :
Tata group mulls moving all tech ops under TCS.
Positive for the stock. 👍

🎯 Dwarikesh Sugar :
ICRA upgrades rating from A- to A with stable outlook for long term loan facilities of Rs.599.99 Crs.
Positive for the stock. 👍

🎯 DLF :
DLF - Haryana govt issues notice for advertising projects without registering them under RERA.
Negative for the stock. 👎

🎯 Just Dial :
Board meeting on 24th July to consider buyback.

🎯 Piramal Enterprises :
Piramal Enterprises enters into JV agreement with Bain Capital, to transfer 50% in held in Piramal Asset reconstruction to Bain capital.

🎯 Zee Entertainment : 
Indian media conglomerate Zee entertainment is in advanced talks to buy 9X Media, which owns a clutch of Hindi and regional music channels, and the deal could be announced this month.

🎯 Bhageria Industries :
Company commissions entire 30 MV solar plant at Ahmednagar.

🎯 Elpro International :
Board to consider rights issue.

🎯 Atlas Cycles :
Board meeting on 4th August to consider Sub division of equity shares.

🎯 Trent :
Board approves entering into definitive agreement with Trent Hypermarket Private Limited (THPL), a JV of the Company, for acquiring their value fashion apparel business.

🎯 Kei Industries :
KEI Industries to set up manufacturing plant for LT power and control cables with an est. cost of 45-50cr.

🎯 Tube Investments :
NCLT sanctions scheme of arrangement between Tube Investments (Demerged co.) and TI financial Holdings ltd

🎯 JSW Steel :
Company may revise bid for assets of Monnet ispat.

🎯 Bhushan steel :
Bhushan steel and SBI lock horns over calculation of loan amount.

🎯 JSW Steel :
Company keen on Bhushan and even Essar Steel.

🎯 Tata Group :
Tata group seeks details of AI disinvestment.

🎯 Amtek Auto :
No bankruptcy proceedings initiated against Amtek Auto.

Edited by Sharp.
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