7th July, Morning Brief

Market will open gap down as SGX NIFTY is trading 24 points negatively.

The index is trading near crucial resistance levels, some amount of profit taking cannot be ruled out in the last trading session of the week on Friday.

The Index has failed to surpass its multiple hurdles of 9700 zone and a decisive hold above 9700 mark could start the next leg of the rally led by short covering activities. On the daily chart yesterday Nifty has made kind of inverted hammer and showing bears becoming strong near 9700 zone.

🎯 News & Impact 🎯

🎯 PSU Banks :
The government is likely to infuse more money in state-run banks amid crackdown on bad loans and increasing capital needs under Basel III guidelines. 
Positive for the sector. 👍

🎯 SRTransFin :
IDFC and Shriram groups are in talks to combine all or some of their businesses in a mega union that could straddle traditional banking, consumer lending and truck financing, apart from providing billionaire Ajay Piramal an entry into a highly regulated industry. The board of Shriram Capital will meet on Saturday to discuss a proposal to merge with IDFC Bank.
Positive for the stock. 👍

🎯 Intellect Desgin Arena :
Fixes 18.07.2017 as Record Data for Rights issue.
Board Approves 5 Rights Eq Shares For Every 22 Held.
Positive for the stock. 👍

🎯 Unichem Labs :
Gets US FDA Nod For Quetiapine Fumarate Tablets.
Positive for the stock. 👍

🎯 Glenmark :
Gets US FDA Nod For Olmesartan Medoxomil Tablets.
Positive for the stock. 👍

🎯 Motilal Oswal :
Motilal Oswal seeks Shareholder Nod To Raise Up To Rs.1,000 Cr.
Positive for the stock. 👍

🎯 Bharat Forge :
Kalyani Group and Israel Aerospace Industries (IAI) expands JV to build new Maintenance Centre in India for Selected Advanced Air Defense System.
Positive for the stock. 👍

🎯 SBI :
Regulators approve SBI lifes IPO Plan.
SBI new York sells loans of Jyoti structures US unit.
Positive for the stock. 👍

🎯 Gayatri Projects: The Government of Singapore Investment Corp (GIC) on Thursday acquired a 6.2 per cent stake in the Indian infrastructure company Gayatri Projects in a block deal of about Rs 165 crore. 
Positive for the stock. 👍

🎯  HPCL :
HPCL raises $500 million through Fixed rate notes.
Positive for the stock. 👍

🎯 Tata Communications :
Tata and Bharti Group on a call to explore joint front in telecom and D2h.
Positive for the stock. 👍

🎯 IL&FS :
IL&FS PE in talks with global PE funds brrokfield, I squared cap and Macquarie to sell its majority stake.
Positive for the stock. 👍

🎯 Eros International :
Company says Srei Equipment Fin Acquires 7.4% Stake In Co Via Pledged Shares On July 3.
Negative for the stock. 👎

🎯 YES Bank :
The private sector lender has partnered with fintech startups like Redcarpetup, Anytime Loans and FRS Labs among few others to adopt innovative technology-based solutions for various businesses, such as lending, anti-fraud detection and easier customer onboarding processes.

🎯 HPCL and ONGC :
The Cabinet is likely to consider this month sale of government’s 51 per cent stake in Hindustan Petroleum Corp Ltd (HPCL) to Oil and Natural Gas Corp (ONGC) for over Rs 26,000 crore.

🎯 Emkay Global :
The company on Thursday approved raising of funds for aggregate amount up to Rs.150 crore.

🎯 Tata Motors: The auto major announced price reduction in commercial vehicles (cargo) in the range of 0.3 per cent to 4.21 per cent and in commercial vehicles (passenger transportation) in the range of 0.6 per cent to 8.2 per cent post GST to pass on the benefits to its customers.

🎯 Balaji Amines :
Company has received approval from Govt. of India for Expansion Project which includes Acetonitrile (ACN), Morpholine (MOR) & Di Methyl Amine Hydrochloride (DMAHCL) products.

🎯 Virinchi :
Board approves allotment of 1,33,500 shares on exercise of options granted.

🎯 Techno Electric :
Board approves amalgamation with Simran Wind project.

🎯 Emkay :
Board approves raising of funds via various means upto 150 cr.

🎯 Bannari Amman :
Bannari Amman Spinning Mills board approves investment in JV co i.e Young Brand Apparel pvt Ltd.

🎯 JHS Svendgaard :
JHS Svendgaard Laboratories says Conversion of warrants into equity shares to non promoters.

🎯 GTL :
NCLT may take up objection of GTL against Aircel.

🎯 NBCC :
Incorporates Arm NBCC Intl To Carry Out Construction, Real Estate & Project Mgmt Consultancy Biz Overseas.

Edited by Sharp.
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