5th July, Morning Brief

Market will open on a positive side tracking SGX Nifty.
9670 and 9710 will be the resistance levels to watch.

🎯 News & Impact 🎯

🎯 ICICI Prudential Life :
Expresses interest to evaluate taking over policyholders liabilities & assets of Sahara Life.
Company evaluating the way forward for the same.
Sahara Life policyholders liabilities at Rs 900 crore; less than 1 percent of company's balance sheet.
Positive for the stock. 👍

🎯 MMTC :
According to reports, government may consider merger of State Trading Corporation (STC) and Project & Equipment Corporation of India (PEC) with Minerals Trading Corporation of India.
Positive for the stock. 👍

🎯 Sun Pharma : 
The pharma major, India’s largest drug maker, signed a long-term agreement with South Korea’s Samsung BioLogics for the manufacture of an experimental medicine to treat psoriasis. 
Positive for the stock. 👍

🎯 Texmaco Rail : 
Adventz Group on Tuesday said it has signed a $2 billion plus memorandum of understanding (MoU) with Israel's Lesico Group to collaborate in the light rail transit (LRT) projects in Tel Aviv and Jerusalem.
Positive for the stock. 👍

🎯 ABC Bearings :
Will be merged into Timken India.
Merger with Timken India may close in Q4FY18.
Positive for the stock. 👍

🎯 Torrent Pharma :
Torrent Pharma gets US FDA nod for Anagrelide hydrochloride capsules (used to treat essential thrombocytosis).
Positive for the stock. 👍

🎯 Religare :
Edelweiss , Piramal in race to buy 2 Religare arms.
Positive for the stock. 👍

🎯 Rolta :
Rolta promoter releases pledge on 55 lakh shares on June 30.
Positive for the stock. 👍

🎯 Delta Corp :
NCLT approves amalgamation of Gauss Networks with Delta Corp.
Positive for the stock. 👍

🎯 Mcnally Bharat :
Company receives order for construction of entry/exit structure of Elamkulam station from Delhi Metro Rail Corporation for a value of Rs.43 crore.
Positive for the stock. 👍

🎯 Vardhaman Steels :
CRISIL revises outlook on long term rating from AA stable to AA positive.
Positive for the stock. 👍

🎯 Max India :
Axis Bank to sell Tata AIA polices, may rock Max Life merger (Axis accounts for 60 percent on Max sales).
Positive for the stock. 👍

🎯 HPCL :
HPCL gets members nod to issue bonus shares in ratio of 1:2.
Positive for the stock. 👍

🎯 Wockpharma :
CARE downgrades rating long term bank facilities to AA- from AA.
Also revises proposed issue of NCD's to AA- from AA.
Negative for the stock. 👎

🎯 ICICI Bank :
Private sector lender ICICI Bank on Tuesday said the joint venture agreement between it and Fairfax Financial Holdings Ltd has been terminated ahead of the IPO of ICICI Lombard General Insurance Company -- a JV between the two entities. 
Negative for the stock. 👎

🎯 Laurus Labs :
CARE downgrades rating to A from AA stable.
Negative for the stock. 👎

🎯 Jyoti Structures :
NCLT initiates action against Jyoti Structures.
Negative for the stock. 👎

🎯 Reliance Industries : 
Reliance Jio is likely to launch its much-awaited 4G VoLTE feature phone within this month, with brokerage HSBC putting the price at as low as Rs 500, a move which could bring in another wave of disruption in the telecom market.

🎯 M&M :
Reduces prices by 6.9 % on large utility vehicle's and small utility vehicle's and small car segment by 1.4 %.
Prices of Hybrid vehicles increased post GST.

🎯 NMDC :
Fixes price of fines at Rs.1,985/mt.
Fixes price of lump ore at Rs. 2,225/mt.

🎯 Bhansali Engineering Polymers :
Board meeting on July 14 to consider expansion project of company for increasing its ABS production capacity from existing 80 KTPA to 137 KTPA inter alia other business.

🎯 Sanghvi Movers :
ICRA assigns A rating for the additional limit of Rs.216 crore line of credit.

🎯 Amtek Auto :
Stakeholders Empowerment Services (SES) questions infusion of loan by Amtek Auto.

🎯 Lanco Infra /Hindustan Powerprojects dispute over bank guarantees.

🎯 Tata Power :
GUYVNL and other procurers uncertain on Mundra offer.

🎯 Yes Bank :
Yes bank says Santander signs a new agreement with company to boost UK-India trade & local business networking opportunities.

Edited by Sharp.
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