3rd July, Morning Brief

Flat opening expected as SGX Nifty is trading 2 points down.

The manufacturing sector data for June will be released on Monday. The 9,590 and 9,690-9710 levels are likely to act as resistance area in the coming week. Supports will come in at 9,425 and 9,375 levels.

🎯 News & Impact 🎯

🎯 Maruti :
Total sales up 7.6 % at 1.06 lakh units versus 98,840 units (YoY).
Positive for the stock. 👍

🎯 Eicher Motors :
Total Royal Enfield sales up 25 % at 63,160 units versus 50,682 units (YoY).
Royal Enfield exports down 8 % at 1,489 units versus 1,622 units (YoY).
Positive for the stock. 👍

🎯 M&M :
Total sales down 8 % at 35,716 units versus 39,009 units (YoY).
Tractor sales up 9.1 % at 32,933 units versus 30,191 units (YoY).

🎯 SML Isuzu :
Total sales down 15.4 % at 1320 units versus 1560 units (YoY).

🎯 Atul Auto :
June total sales down 1.53 % at 3,288 units versus 3,339 units (YoY).

🎯 Tata Motors :
Total sales down 9 % at 40,358 units versus 44,525 units (YoY).

🎯 MOIL :
Prices of manganese ore increased by average 4.6 %.
Reduces free credit facility to 60 days from 90 days if payment made via l.c/bank guarantee.
Prices of electrolytic manganese dioxide increased by 5 %.
Negative for the stock. 👎

🎯 Coal India :
June production at 39.66 mt versus target of 43.18 mt.
June offtake at 45.67 mt versus target of 48.55 mt.

🎯  Strides Shasun :
Strides Shasun gets US FDA nod for Promethazine tablets from Bengaluru unit.
Positive for the stock. 👍

🎯 Cipla :
Gets US FDA nod for HIV Drug, Zidovudine capsules.
Positive for the stock. 👍

🎯 Wockpharma :
Wockhardt gets US FDA nod for Olopatadine hydrochloride solution (used to prevent itchy, red & watery eyes due to allergies).
Positive for the stock. 👍

🎯 Auropharma :
The drugmaker is devising a plan to expand into EU countries such as Poland and the Czech Republic as part of its broader efforts to consolidate business over the next 3-4 years. The company, which is eyeing growth in Italy and Spain too, going ahead, looks to launch various new products in the US market. 
Positive for the stock. 👍

🎯 IOC :
India's largest refiner IOC is setting up an office in Singapore that will handle crude oil purchases and the sales of oil products from its refineries later this year, trade sources said on Friday. 
Positive for the stock. 👍

🎯 SpiceJet :
The Delhi High Court is likely to pronounce its verdict on the pleas of budget carrier SpiceJet and its co-founder Ajay Singh on Monday against a single judge order directing it to deposit Rs 579 crore in connection with a share transfer dispute with previous owner Kalanithi Maran. 
Negative for the stock. 👎

🎯 NBCC :
NBCC (India) and Rail Development Authority, a statutory authority under the Ministry of Railways have signed a Memorandum of Understanding for re-development of 10 Railway stations ie Tirupati, Pudducherry, Eranakulam, Nellore, Madgaon, Thane, Lucknow, Kota, Gomati Nagar (Lucknow) and Sarai Rohilla (Delhi). The re-development of railway station would be integrated with Smart City features.
Positive for the stock. 👍

🎯 JP Associates : 
Jaiprakash associates delays in payment of interest of more than 3 months towards non-convertible debentures (NCD).
Negative for the stock. 👎

🎯 Reliance Capital :
Madhusudan Kela to move to part time advisory role in Reliance Capital.

🎯 JMC Projects :
The company has secured three new orders worth Rs 710 crore. 
Positive for the stock. 👍

🎯  Kesoram Industries :
IndusInd Bank sells 75 lakh shares at Rs. 137 per share (entire holding) in Kesoram Industries.
Negative for the stock. 👎

🎯 Dabur India :
Dabur issues statement saying that company is likely to experience near term adverse impact on its sales and profits due to destocking at trade channels.
Negative for the stock.

🎯 Ramco Systems :
Ramco Systems becomes India's first GST compliant Cloud ERP, ASP & GSP for mid to large enterprises.

🎯 Infy :
Infosys sells its entire investment in Cloudyn for a total consideration of USD 4,400,000(Rs 28 crore). The divestment is due to Microsoft signing a definitive agreement for the acquisition of Cloudyn.
Negative for the stock. 👎

🎯 Stride Shasun :
NCLT approves scheme of arrangement between Stride Shasun, Sequent Scientific and Solara Active Pharma Sciences.
Positive for the stock. 👍

🎯 Bank of Baroda :
Bank of Baroda revises base rate to 9.5 % from 9.6 %.

🎯 Laxmi Vilas Bank :
The bank revises MCLR rate to 9.5 %.

🎯 Zandu Realty :
Zandu Realty board approves merger of Zandu Realty with Emami Infra.

🎯 Vardhman Textiles :
CRISIL upgrades rating of bank loan facilities to AA /Stable.
Positive for the stock. 👍

🎯 Datamatics :
Datamatics acquires 71 % in Techjini Solutions for Rs.39 crore (mobile app development company).
Positive for the stock. 👍

🎯 Olympia Industries :
The company allotted 6,30,000 equity shares, upon conversion of warrants of Rs.45 per share.

🎯 SCI :
Shipping ministry opposes stake sale in SCI, Kamrajar Port.

🎯 Motilal Oswal :
SEBI raps investment banks Goldman Sachs, CLSA, Motilal Oswal in Yes Bank QIP probe.

🎯 NLC India :
NLC India biggest winner in 1500MW Tamil Nadu solar auction.
Positive for the stock. 👍

🎯 Rattan India :
Company's project & Jindal India thermal power among 9 private power projects shortlisted for bank takeover.
Positive for the stock. 👍

🎯 Inox :
Inox turns spotlight on premium screens.
Positive for the stock. 👍

🎯 Whirlpool :
Whirlpool to invest Rs.200 crore to increase production.

🎯 Tata Steel :
UK considers fixing pension loophole to help Tata Steel.
Positive for the stock. 👍

🎯 JSW Steel :
JSW Steel wins 5 mines in Karnataka and 1 in Jharkhand.
Positive for the stock. 👍

🎯 Syndicate Bank :
Melwyn Oswald Rego appointed as MD & CEO of the bank.

🎯 Kalpataru Power :
Bags orders worth Rs.676 crore.
Positive for the stock. 👍

Edited by Sharp.
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