28th July, Morning Brief

A gap down opening expected as SGX Nifty is trading at 9995, a 75 points lower.
On the daily chart, Nifty has made an inverted hammer which is disappointing the bulls as it shows bears ruled over the bulls yesterday.

Results Today :
L&T, NDTV, NIIT, Subex, Karur Vysya Bank, Shoppers Stop, SKF India, Shakti Pumps, LIC Housing Finance, Kewal Kiran, Zuari Global, Zuari Agro Chemicals, Tanla Solutions, Escorts, Equitas, India Cements.

🎯 News & Impact 🎯

🎯 Idea Cellular :
Loss Of Rs.814.9 Cr.
Total Income At Rs.8,166.5.7 Cr.

🎯 ONGC
Net Profit down 10.5 % At Rs.3,889 Crore Versus Rs.4,340 Crore (QoQ).
Revenue down 12.2 % At Rs.19,073 Crore Versus Rs 21,714 (QoQ).

🎯 ITC :
Net Profit Up 7.4 % At Rs.2,560.5 Crore Vs Rs.2,384.7 Crore (YoY).
Total Income Up 4.1 % At Rs.13,800.4 Cr Rs.13,253 Cr (YoY).

🎯 ICICI Bank : 
The lender reported an 8 per cent year-on-year drop in net profit in the June quarter.
Net Profit At Rs.2,049 Crore Vs 2232 Cr YoY.
NII At Rs.5,590 Cr.
Gross NPA At 7.99 % Versus 7.89 % (QoQ)

🎯 Biocon :
Consolidated Net Profit Down 51.2 % At Rs.81.3 Crore Vs Rs.166.6 Crore (YoY).
Consolidated Revenue Down 5.9 % At Rs 933.7 Crore Versus Rs.992.2 Crore (YoY).

🎯 IDFC :
Consolidated Net Profit At Rs.299.4 Crore Versus Rs.181.2 Crore (YoY).
Consolidated Total Income At Rs.3,058.1 Crore Versus Rs 2,360.5 Crore (YoY).

🎯 Glenmark Pharma :
US Business up 49.7 % At Rs.1,045 Crore
India Business up 15.2 % At Rs.616.4 Crore.
Consolidated Net Profit up 47 % At Rs. 333.4 Crore Versus Rs.226.8 Crore (YoY).
Consolidated Revenue up 20 % At Rs 2,363 Crore Versus Rs.1,969 Crore (YoY).

🎯 NFL :
Government likely to get Rs.535 crore from National Fertiliser stake sale.
Positive for the stock.

🎯 Indiabulls Real Estate : 
Indiabulls Real Estate promoter group entity IBREL IBL Scheme Trust today sold 77 lakh shares of the company for an estimated over Rs.178 crore through an open market transaction.

🎯 Renuka Sugars :
To make preferential issue up to 50 crore CCPS (compulsorily convertible preference shares) to Wilmar at Rs.16.27 each.

🎯 Claris Life Sciences :
Company completes sales of its global generic injectables business to Baxter.

🎯 Axis Bank :
Shikha Sharma re-appointed as the Managing Director & CEO of Axis Bank for a period of 3 years.

🎯 Duke Offshore :
Company wins order to support specialized dredging operations with MNC JV Partner at Mumbai Harbour

🎯 IDBI Bank :
Ind-Ra downgrades Upper Tier II bond and Perpetual Bond to BBB /Negative.

🎯 Nava Bharat Ventures :
300 MW Power Plant of Maamba Collieries has achieved Provisional acceptance under the EPC contract.

🎯 Oriental Carbon :
ICRA Revises rating to A on term loan facilities.

🎯 Videocon Ind :
NCLT approves scheme of arrangement between Videocon D2H & Dish TV.

🎯 Sun Pharma :
Sun Pharma raises stake in Zenotech from 46.85 % to 57.56 %.

🎯 Vedanta :
Resources has initiated talks with south India based Deccan Gold Mines to acquire a controlling stake. 

Edited by Sharp.
© Sharp Investment & Financial Advisers.