29th Aug, Morning Brief

Markets are likely to open on a negative note on Tuesday, tracking SGX Nifty and mixed global cues.
SGX Nifty was trading 56 points lower at 9,856.50

🎯 News & Impact 🎯

🎯 Nifty50 :
Out - ACC, BANKBARODA, TATAMOTORS DVR & TATAPOWER.
In - BAJAJ FINANCE, HPCL & UPL.

🎯 NTPC :
The government will kick off 412 million shares offer for sale (OFS) today. It intends to sell up to 5 per cent in the power utility firm, with a greenshoe option to sell another five per cent. 

🎯 Dr Reddy’s Laboratories :
A class action lawsuit has been filed against it in the US by an investor alleging misleading statements in violation of the US federal securities laws. The lawsuit filed at the District Court for New Jersey seeks damages to compensate the class of investors for a 'purported decline' in the company's share price allegedly caused by the misstatements or omissions.
Negative for the stock.

🎯 Eicher Motors :
Commercial production from its new manufacturing facility at Vallam Vadagal near Chennai. 

🎯 M&M :
Renaming its joint venture with the Gujarat government from Mahindra Gujarat Tractors to Gromax Agri Equipment in order to effectively focus on the 30-50 hp tractor market, which comprises of 80% of the market.

🎯 Infosys :
Some Members Of Promoter Group Said They Intend To Participate In Buyback.

🎯 Dalmia Bharat :
Seeks Shareholder Nod To Issue NCDs Worth Upto `1,000 Cr.

🎯 Relcapital :
IRDA Grants R1/first Level Nod To Rel Cap's Health Insurance Arm.
Rel Cap Health Insurance Will Need Two More Approvals Before Beginning Ops.

🎯 Jaiprakash Power :
Banks Look To Sell A Minimum Of 30% Stake In JPVL To An Investor.

🎯 Century Plyboards :
Company subsidiary Century Ply (Singapore) Pte. Ltd. in Singapore has acquired further 2% stake in M/s. Huesoulin Wood Processing Factory Co. Ltd., Laos, thereby increasing its aggregate shareholding from 49% to 51%.

🎯 Magma Fincorp :
Company has acquired 26% equity shares of Magma ITL Finance Limited. 

🎯 Religare Enterprises :
Company has issued NCDs on private placements Amount to Worth Rs.30 Cr.

🎯 Vijaya Bank :
A 1000 Cr QIP opened on 28th August at 66 /share.

🎯 Reliance Infra :
Greenko is in talks with Anil Ambani-led Reliance Infrastructure to acquire its Mumbai electricity business for an enterprise value of Rs 10,000-13,000 crore ($1.75-2 billion).
Positive for the stock.

🎯 Tata tele :
To invest 4k cr. In listed arm.

🎯 HPCL, BPCL, IOC :
Fuel retailers look at revamp after entry of Rosneft.

🎯 JSW steel :
Company in talks to acquire Cevital Aferpi mill for 100mn$.

🎯 HCL Tech :
Seeks Shareholders' Nod For Re-Appointment Of Shiv Nadar As Chairman & CSO.

🎯 Indiabulls Ventures :
Board Approves Appointment Of Sameer Gehlaut As Non-Executive Chairman.

Edited by Sharp.
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