9th Aug, Opening Bell

Market opened with a gap down and continued the pessimism from yesterday's session. Nifty has a support at around 9920 level which may be considered as a relief from a high fall. 9840-9850 will be the crucial levels to understand the strength of the index ahead.

Major Results Today :
Eicher Motors, Tatamotors, Auropharma, Nalco, NMDC, MMTC, PTC India Financial, NHPC, Thomas Cook

🎯 News & Impact 🎯

🎯 Jindal Steel :
Consolidated net loss at Rs 420.5 crore versus loss of Rs.1,238.1 crore (YoY).
Consolidated revenue up 19.6 % at Rs. 6,126.6 crore versus Rs.5,124.7 crore (YoY).

🎯 IL&FS Transport :
Net profit up 38.5 percent at Rs 24.8 crore versus Rs 17.9 crore (YoY).
Revenue down 19.4 % at Rs.954 crore versus Rs.1,183 crore (YoY).

🎯 Future Retail : 
Net profit soared 110 % to Rs.148 crore in the quarter to June on higher sales.
Sales rose 18 % year-on-year to Rs.4,707 crore.
Positive for the stock.

🎯 Muthoot Finance : 
Net profit up 30 %, at Rs.351 crore vs Rs. 270 Cr. QoQ.
Loan assets increased by 8 % to Rs. 27,852 crore. The total income also rose by 8 % to Rs 1,399 crore. 
Positive for the stock.

🎯 Titan :
Amazon US to sell Titan, Fastrack products.
Positive for the stock.

🎯 Lupin :
Lupin gets US FDA nod for Nikita (Pitavastatin) tablets.
Positive for the stock.

🎯 Auropharma :
Aurobindo, Intas in race to buy Mallinckrodt's US generics business.

🎯 PVR :
To sell 51 percent stake in PVR bluo entertainment for Rs.86 crore.

🎯 Automotive Stampings :
CRISIL has downgraded its ratings on the bank facilities to 'BBB /Stable' for the long term borrowings and 'A2' for short term borrowings.

🎯 SRF :
Board approves setting-up of a facility to produce specialty chemicals (P-33) for agro industry at chemical complex in Dahej, Gujarat at an estimated cost of Rs 85 crore.

🎯 Sintex Industries :
Sintex approves allotment of 87,82,069 equity shares to foreign currency convertible bonds holder upon exercise of their conversion right.

🎯 Crompton Greaves :
Company offers Videocon Rs.1,440 crore for Kenstar.

🎯 Tata Teleservices :
Company lenders of may recall loans for Rs.1,911 crore.

🎯 Allcargo Logistics : 
The company is looking for acquisitions in the technology and contract logistics space, seeking to grow its business in India where opportunities will likely grow at a faster clip under GST.