Market opened with a gap up in line with global cues.
Nifty has breached descending trendline on the up side and hovering near its resistance zone at 9980 - 10000. As mentioned earlier also, any sustaining above 10000 mark may open doors to the next levels.
The Asian markets have opened on a positive note as the investors digested headlines concerning developments out of the People's Bank of China and European Central Bank announced at the weekend.
🎯 News & Impact 🎯
🎯 IPO Watch :
Matrimony.com
Closes on September 13
Price band Rs 983-985 per share.
🎯 Jain Irrigation :
GST rates on irrigation equipment cut from 18 % to 12 %.
🎯 Cipla :
Gets tentative US FDA nod for HIV drugs, Efavirenz & Emtricitabine.
Gets tentative US FDA nod for HIV drug, Tenofovir Disoproxil Tablet.
Positive for the stock.
🎯 Auropharma :
Aurobindo Pharma gets US FDA nod for pelvic inflammation drug Metronidazole tablet.
Positive for the stock.
🎯 DCB Bank :
Pakistans Habib Bank to close NY office, pay USD 225 million fine for compliance failures.
Action against Habib Bank for infringing laws designed to combat illicit money transfer.
DCB Bank, Habib Bank have common promoter: Aga Khan Foundation.
Cautious over the stock.
🎯 SAIL :
The country's largest steel maker SAIL posted a 7% rise in sales to 5.5 million tonnes in the first five months of the ongoing fiscal, helped by production ramp-up.
🎯 Page Industries :
Innerwear brand Jockey India plans to double production capacity to 400 million pieces per annum in the next three years.
🎯 IL&FS Engineering
Gets letter from Paschimanhal Vidyut Vitran Nigam to terminate contract.
As per company, termination of contract is illegal.
Cautious over the stock.
🎯 Petronet LNG
India has renegotiated pricing of contract to import LNG from Australias Gorgon project.
Petronet LNG gets gas from Australia at double the spot price.
🎯 Automobile Sector :
Council increases cess on mid-size cars by 2 %
Council increases cess on big cars by 5 percent, SUVs by 7 %
Council maintains status quo on cess for small cars, 13-seaters & hybrid.
Effective from today.
🎯 Deep Industries :
Company has received letter of award (LOA) from ONGC for Ankleshwar asset extension worth Rs 2.6 crore.
🎯 Oriental Bank of Commerce :
OBC cuts one-year MCLR to 8.40 %.
🎯 Lanco Infra :
Lanco Infra has decided to exit its real estate investment to refocus on its core business.
🎯 Coal India :
Coal India to initiate long term supply contracts to supply 40mn tonnes under the Shakti scheme.
🎯 Bharti Airtel, Idea Cellular : Department of Telecommunications makes telecom gear testing must from October 2018
🎯 MCX :
Commodity futures - SEBI mulls lifting decade old ban on tur, urad futures.
🎯 Tata Chemicals, Tata Power :
Tata Sons to reduce cross-holdings in Tata Chemicals, Tata Power.
🎯 InterGlobe Aviation :
Eyes on wet lease to cash in on winter traffic.
🎯 Bharti Airtel :
Bharti Airtel in talks with handset firms for Rs 2500 4G smartphone to compete Jio.
Telecom Commission sources say Rs 3,100 crore from USOF Fund will be used to set up about 4100 towers for uncovered villages; contract has gone to Bharti Airtel.
🎯 Zee Entertainment :
Zee Entertainment eyes HD English movies with &Prive.
🎯 Future Enterprises :
Group looking to buyout Hypercity.
🎯 Century Textiles :
Company may explore merger with Grasim after sale of paper division.
🎯 Jyoti Structure :
Shapoorji Pallonji, SSG Capital plan joint bid for Jyoti Structures acquisition.
🎯 MF AMCs :
SEBI to reduce mutual funds scheme by half.
🎯 ONGC :
Company's gas production plan from KG basin may miss June 2019 deadline.
🎯 Pitti Laminations :
Company gets shareholder nod to reappoint Sharad B Pitti as chairman & MD.
🎯 Unitech :
SC declines bail for Unitech MD Sanjay Chandra for not delivering flats.
🎯 Idea :
Company says as directed by NCLT, shareholders, creditors to meet to consider amalgamation among Vodaafone Mobile Services, Vodafone India & Company on October 12.
🎯 SBI :
Sebi has rejected an application from a combo of State Bank of India and Onida's ex-promoters to register their ratings agency, Onicra, as the duo failed the market regulator's `fit and proper person' test.
🎯 Healthcare stocks :
CCI plans to carry out a detailed study on pharmaceutical and healthcare segments, including differential pricing ways, as it looks to identify areas that pose competition concerns.
Edited by Sharp.
© Sharp Investment & Financial Advisers
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