Gap up opening on the bources but interested to see whether it sustains. 9880 will be considered as a resistance.
🎯 News & Impact 🎯
🎯 S Chand :
Net loss at Rs.7.9 crore versus loss of Rs. 10.9 crore (YoY).
Revenue up 86.1 % at Rs.29.4 crore versus Rs.15.8 crore (YoY).
EBITDA loss at Rs. 11.4 crore versus loss of Rs.14.6 crore (YoY).
🎯 BSE :
To 'compulsorily' delist 200 firms on August 23.
BSE to bar promoters of the 200 firms from the markets for 10 years.
Trading in these shares has remained suspended for over a decade.
Complete list here.
http://economictimes.indiatimes.com/markets/stocks/news/bse-to-compulsorily-delist-200-companies-on-wednesday/articleshow/60160602.cms
🎯 Lupin :
Receives establishment inspection report (EIR) from US FDA for Aurangabad, April 2017 inspection.
US FDA inspection of Aurangabad Unit carried out in April 2017 is now closed.
This closes all outstanding US FDA inspections at company's Aurangabad unit.
🎯 Cadila Healthcare & Torrent Pharma :
Both promoters re evaluating a potential merger.
Positive for the stocks.
🎯 Auropharma :
Company received tentative approval from the USFDA for dolutegravir, lamivudine and tenofovir disoproxil fumarate tablets, used for the treatment of HIV, in the US market.
Positive for the stock.
🎯 Central Bank :
Revises savings bank deposit rate effective August 21.
Savings bank deposit rate for balance upto Rs.50 lakh set at 3.5 %.
Savings bank deposit rate for balance above Rs.50 lakh set at 4 %.
🎯 Dena Bank :
Public sector Dena Bank has cut interest rate on savings account deposits up to Rs.25 lakh by 0.5 % to 3.50 %. Those having deposits over Rs.25 lakh in their savings bank accounts will continue to get the existing interest of 4 %.
🎯 Indian Hotels :
To raise 1500 Cr by issuing preference shares to existing shareholders.
🎯 Jaypee Infratech :
Jaypee homebuyers won't have to fill any claim forms by August 24.
Decision taken at a meet between Jaypee MD & insolvency professional Anuj Jain.
🎯 Sobha Developers :
Franklin Templeton bought 2.03 % stake in Sobha at Rs.1.9 crore.
Positive for the stock.
🎯 Essar Steel :
Big buyers show huge interest in buying companies taken to National Company Law Tribunal (NCLT).
2 Indian companies, one each from Europe, Japan, Korea interested in Essar Steel.
🎯 Subex System :
Subex to separate various verticals and attract strategic investors for each vertical.
🎯 Biocon :
Board approves transfer of biosimilar business to subsidiary Biologics India.
🎯 Ugar Sugar :
Karnataka State Apellate Authority stayed order of Karnataka Pollution Control Board regarding closure of Ugar sugar's operation. Accordingly operations for plant started from August 21, which was earlier shut since August 8.
🎯 V-Guard :
Company acquired 6,72,047 equity shares of GUTS Electro Mech, constituting 49.43% of paid up capital vide share purchase agreement.
🎯 Bharti Airtel :
Company plans move with 4G phone at Rs.2,500.
🎯 ONGC :
Board gives in-principal nod to the acquisition of 51.11 % shares of HPCL.
🎯 NTPC / NHPC :
Both companies take investors' nod to raise funds.
🎯 Visa Steel :
Company halts Kalinganagar operations as supplies halt.
🎯 Idea Cellular :
NCLT calls Idea Cellular to convene meeting of creditors on October 12.
🎯 Tata Power :
Indian Energy Exchange get SEBI nod for IPO.
Positive for the stock.
🎯 ICICI Bank :
ICICI Bank to sell Unimark Remedies loan to Edelweiss ARC.
🎯 McBally Bharat :
Company bags EPC order worth Rs 514 crore
🎯 HCL Info :
Company signs distributor agreement for iPhone & other Apple products with Apple India.
Positive for the stock.
🎯 Coffee Day Global acquires a wholly owned subsidiary ONS Ventures in Malaysia for Rs 0.7 crore.
🎯 Manappuram Finance :
Quinag buys stake in Manappuram Finance for Rs.143 crore via open market transaction, at an average price of Rs. 94.73 a piece.
🎯 Coal India :
The company’s management has said it cannot afford the extent of salary hike its unions are asking because its fund position would not permit.
Edited by Sharp.
© Sharp Investment & Financial Advisers
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