8th Aug, Morning Brief

🎯 News & Impact 🎯

Results Today :
Jindal Steel, BOI, Astrazeneca, Tata Chemicals, IL&FS Transport, Muthoot Finance, NCC, Thermax

🎯 Tata Steel :
Cons Net Profit At Rs.933 Cr Vs Rs. 209.43 Cr (YoY).
Cons Revenue At Rs.30,973 Cr Vs Rs. 25,896.9 Cr (YoY).
Positive for the stock.

🎯 Eros international :
The company is in talks with Apple Inc, the world's most valuable public company, to sell its entire content library of films and music for around $1 billion multiple sources aware of the ongoing negotiations.
Positive for the stock.

🎯 Cipla :
Cipla Gets US FDA Nod For HIV Drug, Nevirapine.
Positive for the stock.

🎯 Edelweiss :
ICRA Limited has assigned the rating of '[ICRA]A1 ' (ICRA A one plus) to the proposed CP Programme of Rs. 8,000 Crores.
Positive for the stock.

🎯 Britannia :
Company plans to set up its largest plant at Ranjangaon Food Park in Maharashtra with an investment of Rs 1,000 Cr.

🎯 ITC, L&T :
Life Insurance Corporation of India will have to prune its stake in two companies -ITC and L&T -to 15 per cent in two years.

🎯 ONGC :
Company plans to invest $150 million in exploration this fiscal year to drill more wells in Colombia.

🎯 Reliance Capital :
The board of Reliance Nippon Life Asset Management (RNAM) is expected to meet on Tuesday to approve the draft red herring prospectus (DRHP).

🎯 Bharti Airtel, Bharti Infratel :
Bharti Airtel is learnt to be in the process to offload a 3.7 per cent stake in Bharti Infratel for about Rs 2,500 crore.

🎯 Idea :
Idea-Vodafone Deal Gets SEBI's Conditional Nod.

🎯 GIC :
Files Draft Red Herring Prospectus For IPO With SEBI.
To Issue 12.47 Cr Shares Comprising 14.22% Of Capital Via IPO.

🎯 M&M :
Deepak Parekh Would Cease To Be Director Of Co From August 8, 2017.

🎯 Indotech Transformers :
ICRA Limited (The Credit Rating Agency) has assigned a long-term issuer rating of IrBBB- (pronounced I R triple B minus) to Indotech Transformers Limited (The Company).

🎯 Allahabad Bank :
The bank issues 5.6cr shares to GOI at Rs 73/share.

🎯 Dr Lal PathLabs :
The company to acquire Drlal Path Labs Bangaldesh.

🎯 Reliance Capital :
Reliance Capital to file DRHP for MF arm.

🎯 Britannia Industries :
Britannia to build 1000cr plant in Maharashtra.

🎯 GAIL :
GAIL seeks to renogetiate US LNG price deal over changed market.

🎯 Hindalco :
Board to consider raising 4400cr via debt.

🎯 Adani Enterprises :
Abudhabi investment, blackstone in talks to buy kcr biz park deal in Mumbai.

🎯 Kotak Mahindra Bank :
Bank won't reduce rates on deposits.

🎯 NTPC :
NTPC to buyout UP govt stake in Meja Power JV.

🎯 Punjab & Sind Bank :
Punjab & Sind Bank Keeps MCLR Unchanged At 8.75% w.e.f Aug 7.

🎯 Karur Vysya Bank :
Karur Vysya bank cuts overnight, one-month & 3-month MCLR By 5 bps to 8.75% from 8.80%.

Edited by Sharp.
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