30th Aug, Morning Brief

A gap up opened market may trade positively ahead of F&O expiry tomorrow.
Market may get some support with Finance Minister Arun Jaitley’s statement that goods and services tax (GST) collections have exceeded estimates in the first month of the landmark levy’s rollout despite a significant number of assessees not having filed returns yet. Finance Minister said that GST mopup in July pegged at Rs 92,283 crore and could rise further.
The Indian markets suffered serious drubbing in the last session with Nifty50 wiping out all the gains logged in last four sessions and ending below the 9,800 mark.

🎯 News & Impact 🎯

RBI sends fresh list of defaulters to be taken to NCLT (National Company Law Tribunal) by banks.
Total Defaulter list may have 35-40 accounts; SBI alone gets list of 25-26 accounts.
Companies in fresh list of defaulters to be taken to NCLT by mid-December if not resolved.
Videocon, JPAssociates, IVRCL, Castex Technologies, Jayaswal Neco, Visa Steel, Ruchi Soya, Unity Infra, Uttam Galva, Jaibalaji Industries, Nagarjuna Oil, Orchid Chemical, SEL Manufacturing, Videocon Tele, Essar Projects, Ushdev International,

🎯 Ujjivan Financial :
Gets RBI grant for scheduled bank status.
Company can issue certificate of deposits will open gates for more deposits.
Average borrowing cost is at 10.5 %; new borrowings can come at sub-7 %.
Positive for the stock.

🎯 Auropharma :
gets US FDA nod for cholesterol drug, Ezetimibe tablet.
Positive for the stock.

🎯 IOC :
IOC to invest Rs 1.8 trillion in refinery expansion.
Positive for the stock.

🎯 Relcapital :
Reliance capital to be removed from 11 S&P BSE indices; Berger Paints India to replace Reliance Capital in Nifty Midcap 50 index.
Negative for the stock.

🎯 Cadila Healthcare : 
Cadila said it has received establishment inspection report from the US health regulator for its manufacturing facility at the pharma SEZ in Ahmedabad. The plant had completed the USFDA audit from January 16-24.

🎯 Vijaya Bank : 
Bengaluru-based Vijaya Bank has managed to raise Rs.700 crore by selling shares to institutional investors from both India and abroad in a qualified institutional placement (QIP) which closed on Tuesday.

🎯 Kesar Terminals & Infrastructure :
has started dispatching first lot of export cargo through 45 container of 40 FEU each, from the Powarkheda (PRKD) station.

🎯 SPML Infra :
First 500 MVA autotransformer successfully installed.

🎯 Sugar stocks :
The government has imposed stock limits on sugar mills, a move aimed at keeping prices stable during the festive season when consumption increases.

Edited by Sharp.
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