Market will open on negative flat as SGX Nifty is trading down by 16 points.
Though, Nifty50 recouped all the losses witnessed in Tuesdays trading session patterns are clearly suggesting that as long as it stays below 9,926 levels the threat of big fall shall continue to remain.
🎯 News & Impact 🎯
🎯 Reliance :
Company declared 9th Sept. 2017 as a record date for bonus share in the ratio of 1:1 for existing FV of Rs.10.
🎯 RIL has said it will make an offer for issuing non-convertible debentures (NCDs) worth Rs2,500 crore on 4 September.
Positive for the stock.
🎯 Auropharma :
Aurobindo Pharma Ltd is in talks to buy the Russia business of Mumbai-based Shreya Life Sciences Pvt. Ltd in a deal potentially valued between $80 - $ 100 million.
Positive for the stock.
🎯 Ujjivan Financial :
CDC Group sells part of Ujjivan Financial Services stake for around Rs.212 crore, a total of 5.9 million shares of Ujjivan Financial Services, bringing down its shareholding in the company to 1.91% from 6.84%.
Negative for the stock.
🎯 Grasim :
Aditya Birla Capital's listing on 1st September on NSE & BSE.
🎯 FAG Bearings :
Schaeffler Announces Merger Of Its Indian Entities viz.
FAG Bearings (listed), INA Bearings, LuK India.
🎯 Ajanta Pharma :
Gets US FDA Nod For Migraine Drug, Eletriptan Hydrobromide Tablet.
🎯 DHFL :
Harshil Mehta elevated to 'Joint Managing Director and Chief Executive Officer' from CEO of DHFL.
🎯 Biocon :
USFDA Target Action Date for Trastuzumab reset to December 3, 2017.
🎯 ONGC :
ONGC will soon seek shareholders' approval to raise a debt of Rs 25,000 crore to fund the planned acquisition of HPCL. The ONGC board has approved raising the debt and would now take the proposal to shareholders.
🎯 Tata Motors, Maruti Suzuki :
India’s top automakers expect a slump in demand after the cabinet on Wednesday approved an ordinance that will allow the cess on larger passenger cars and sports utility vehicles (SUVs) to be raised to as much as 25% from 15% under the goods and services tax (GST) regime.
Cautious on stock. ⚠
🎯 ABB India :
ABB India has surpassed the 5 GW milestone for the supply of solar inverters in India. From schools to airports, canal tops and mega solar plants, ABB's solar inverters with global technology made In India power various solar Installations across the country.
Potential over the stock.
🎯 P&G :
Procter & Gamble Hygiene & Healthcare recommended the final dividend of Rs.27 per equity Share. (270%).
🎯 Aksh Optifibre :
Company's service division bags National Level Banking Correspondent Contract from Bank of Baroda.
🎯 Fortis Healthcare :
Fortis Healthcare sells its stake in M/s. Fortis Medicare International Limited to M/s. Fortis Global Healthcare.
🎯 Cochin Shipyard :
Cochin Shipyard Limited and Central Institute of Fisheries Technology signed MOU for building fishing vessels.
🎯 Shree Pushkar Chemicals :
BM on 4th September to consider various business proposals (Can be an acquisition).
Positive for the stock.
🎯 Wonderla Holidays :
Wonderla Holidays inaugurates 2 new rides in Kochi, India's first reverse lopping roller coaster.
🎯 Corporation Bank :
Company revises Interest rate in savings accounts.
🎯 Lyka Labs :
Lyka labs board has decided to offer and issue 5,50,000 convertible warrants to promoter group on preferential basis.
🎯 NTPC :
Retail part of OFS subscribed 73%; govt collects Rs.9136 cr from the OFS.
🎯 Amtek Auto :
interim resolution professional (IRP) seeks resolution plan.
🎯 Surya Roshni :
Warburg Pincus, Crompton Greaves, Bain eye controlling stake in Surya Roshni as Promoters look to exit.
Negative for the stock.
🎯 Vedanta :
Names Ex CEO Kuldip Kaura an Interim chief Executive.
🎯 Wipro :
Shareholders give buyback for 11,000 cr Buyback proposal.
🎯 Sibar Auto Parts :
Sibar Auto Parts has received a purchase order from Sundaram Clayton for manufacturing and supply of automobile castings (pipe-Volve), valued at Rs 3 lakh per month, this value may increase time to time.
Edited by Sharp.
© Sharp Investment & Financial Advisers
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