8th Sept. Morning Brief

Market will open flat to positive tracking SGX Nifty, up by 20 points.
Index should move above 10000 mark and should sustain above to see new levels on the horizon.

🎯 News & Impact 🎯

Forthcoming major IPOs :

🎯 ICICI Bank :
ICICI Lombard IPO price band fixed at Rs. 651-661/share.
ICICI Lombard IPO to raise up to Rs.5,700 crore.
19 percent shares on offer via ICICI Lombard IPO
Date - September 15 to Sep 19

🎯 SBI :
IRDA grants final approval to SBI Life IPO.
SBI Life is life insurance JV between SBI (70.1 %), BNP Paribas Cardiff (26 %), KKR & Tamasek (1.95 %).

🎯 Equitas Holdings :
Cinnamon Capital sells entire 4.89 % stake in company.
Morgan Stanley (France) S.A (P-Note) buys 3 % stake in company.

🎯 Biocon :
Biocon's insulin facility in Malaysia receives EU GMP compliance certificate. 
Malaysian facility one of Biocon's largest insulin units.
Positive for the stock.

🎯 TCS :
Tata consultancy services partners with GE to integrate intelligence into services data lake platform.

🎯 NBCC :
NBCC is in initial and informal talks with the Finance Ministry as well as lenders to Jaypee Infratech to complete the construction of 27 stalled residential projects in Noida and Greater Noida for over 30000 home buyers for those getting home is a dream.

🎯 Monsanto India :
Monsanto is selling its branded cotton seeds business in India to Hyderabad-based Tierra AgroTech.

🎯 Vaibhav Global :
CARE upgrades credit rating to A- from BBB for long term bank facilities.
Positive for the stock.

🎯 Punj Lloyd :
Company gets letter of award for construction canal work for total contract value of Rs.870 crore.

🎯 CCL Products :
FPI cap on CCL Products hiked to 40 %.
Positive for the stock.

🎯 Punjab Alkalies & Chemicals :
SEBI imposes Rs 2,423 crore penalty on PACL.
Negative for the stock.

🎯 IDBI Bank :
IDBI Bank seeks bids to sell 13.71 % stake in SIDBI.

🎯 Bank of Baroda :
BOB has put 275 commercial and residential properties across India on the block in a fresh attempt to clean up the bank’s books. Called a Mega e-auction.
Positive for the stock.

🎯 Idea :
Brookfield joins race to buy Vodafone & Idea Cellular stakes in Indus Tower.

🎯 Orient Green :
Orient Green, IL&FS wind energy merger talks hit a hurdle due to drop in wind energy tariffs.

🎯 UCO Bank :
UCo Bank to sell bad loans worth Rs. 2,420 crore from 27 accounts to asset reconstruction companies.

🎯 Bombay Dyeing :
Company sold a land parcel of 48.457acre for Rs.13.57 crore.

🎯 Vista Pharmaceuticals :
Vista Pharmaceuticals received EIR from USFDA for its formulation facility in Telangana.

🎯 Gammon India :
Gammon India announced that pursuant to the sale of shares of Gammon Infrastructure Projects by Gammon Power and Gactel Turnkey Projects (wholly owned subsidiaries of the Company) in various tranches in the open market, the company currently holds less than 51 % of shareholding in GIPL.

🎯 Bank of India :
Bank of India cuts marginal cost of lending rates to 8.3 %.

🎯 Sharda Motor :
Sharda motor filed petition against Toyo Sharda before NCLT

Edited by Sharp.
© Sharp Investment & Financial Advisers