6th Oct, Morning Brief

Market are likely to open on a positive note as SGX Nifty is trading up by 11 points.
The road head for the market will be decided by the corporate results which will start announcing from the next week.
Technically, after 9940 resistance, next hurdles are 9990 and 10085 to sustain above for hoping for new top.

🎯 News & Impact 🎯

IPO Updates :
Godrej Agrovet IPO subscribed 2.37x at day 2.

🎯 IDFC / Shriram Transport Finance :
The parties have agreed for extension of the CES Agreement up to November 8, 2017.

🎯 M&M :
M&M will be investing Rs.3,500 crore to Rs 4,000 crore in the EV business in the next three to five years.

🎯 Compton Greaves :
Compton Greaves leads race to buy Videocon owned Kenstar, for Rs 1400 crore.

🎯 Majestic Auto :
Company shuts down its fine blanking division

🎯 NGL Fine Chem :
Company to expand production capacity by incurring total capital outlay of 30 crore.

🎯 Phoenix Mills :
Company along with Canada Pension Plan Investment acquires additional adjoining land parcel in Pune worth Rs. 21.2cr

🎯 IDBI Bank :
IDBI Bank gets shareholder nod to issue, allot equity shares up to Rs.1,861 crore to govt.

🎯 Grasim :
CCI fines AB group firm Grasim, others for bid rigging in Delhi Jal board tenders.

🎯 Patel Engineering : 
The board has approved issue of optionally convertible debentures up to Rs.1,240 crore on preferential basis/private placement to the lenders by conversion of debt under Scheme of S4A. Besides, raising up to Rs.300 crore by way of Rights Issue of equity shares with or without warrants.

🎯 Music Broadcast :
Radio City, a part of Music Broadcast, announced the launch of its new age web platform radiocity.in Hindi, becoming the only radio network in India to offer an exclusive Hindi website. Radio City was the first radio network In India to take the digital route with the launch of radiocity.in. 

🎯 Aviation Sector :​
The IATA data showed that India's domestic RPK -which measures actual passenger traffic -rose by 16 % in August compared to the corresponding month of the previous year. 

Edited by Sharp.
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