18th Aug, Morning Brief

Market will open on negative note as SGX Nifty is trading down by 51 points.
Again 9920 will be the resistance for Nifty50 on its Northward journey.

🎯 News & Impact 🎯

🎯 ICICI Bank :
ICICI Lombard Co expects SEBI nod for its IPO in next 2-3 weeks, likely to issue in Oct.
Funds raised via ICICI Bank's stake in IPO to be used for ICICI Bank.
Positive for the stock.

🎯 Reliance Capital :
Reliance MF is likely to file DRHP for IPO on Friday. Axis Capital and CLSA are acting as bankers to the IPO.

🎯 Spicejet :
SpiceJet to increase charges on extra luggage over 15 Kgs.
Positive for the stock.

🎯 HDFC :
HDFC Life to file for its DRHP today.
Dilution of 15 percent; Targetted MCAP of Rs 50000-55000 crore. HDFC will sell 9.57 per cent holding in the insurance arm HDFC Standard Life Insurance Company, while its partner Standard Life will sell 5.43 per cent in the same.
Positive for the stock.

🎯 Pharma Sector :
The government proposes to revamp the country's drug pricing regulator, allowing it to set prices of only essential medicines. The latest draft proposals suggest amendments to the drug pricing policy and inducting advisory body of experts in a move to strengthen the regulatory body, but at the same time may take away its absolute power to fix drug prices in public interest.
Positive for the sector.

🎯 Emami :
Emami Agrotech, a part of the diversified Emami group, is eyeing to generate a revenue of Rs.1000 crore from edible oil business in Bihar. Bihar stands at over 7000 tons per month in a time span of less than three years' time in terms of sales volume.
Positive for the stock.

🎯 Raymond :
Raymond has acquired remaining 50 % stake in joint venture JK Ansell in an effort to scale up its consumer products business and take its key brand KamaSutra globally.
Positive for the stock.

🎯 Infosys :
May consider a share buy-back.
Positive for the stock.

🎯 Talbros Engineering :
Board recommends the issuance of bonus shares in the ratio of 1:1.
Positive for the stock.

🎯 Indo Count : 
CARE has Upgraded Credit Rating of Long Term Bank Facilities to CARE AA with Stable Outlook from CARE AA-.
Positive for the stock.

🎯 GNFC : 
ICRA revises rating on Term loans to AA Stable from AA-.
Positive for the stock.

🎯 PNB, HDFC Bank :
PNB and HDFC Bank have slashed interest rate on savings bank accounts by 50 basis points to 3.5 per cent on deposits up to Rs 50 lakh. 

🎯 Golden Tobacco :
Company puts land parcel on block for the third time.

Edited by Sharp.
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