7th Nov, Morning Brief

Market will open positively as SGX Nifty trading up by 39 points.

An inverted hammer on the daily chart yesterday speaks a lot. Yesterday's top of 10490 can be considered as a resistance for a while and to maintain the upstream, Nifty should sustain above 10490-10510 zone.

Major Results Today :
BHEL, Cipla, Indian Overseas Bank, Indian Bank, Jindal Saw

Results Updates :
🎯 L&T Infotech :
Net Profit Up 4% At Rs. 273 Cr Vs Rs. 267.2 Cr (QoQ).
Revenue (GU)4.8% At Rs. 1,750.8 Cr Vs Rs.1,670 Cr (QoQ).

🎯 News & Impact 🎯

🎯 RECL :
The Indian Railways may rope in state-owned REC to fund its ambitious plan to electrify the entire network by 2021-22.

🎯 Narayana Hrudayalaya :
Signs Pact To Buyback 71.4% Shrhlding In Health City Cayman Islands.

🎯 STC / MMTC :
Cabinet To Take Final Call On Commerce Min Proposal For STC-MMTC Merger.

🎯 HFCL :
HFCL bags Order for Rs.1248 cr from Bharat Sanchar Nigam Limited for Defence Communication Network

🎯 Tata Chemicals :
Company announces sales of its Phosphatic Fertilizers business to IRC Agrochemicals Private ltd for Rs.375cr.

🎯 MLL :
Mercator's QIP opens on 6th November at Rs.44.

🎯 AXISCADES :
Company to acquire Mistral Solutions for Rs.175 Cr.

🎯 RCom :
Reliance Communications enters into binding MOU to sell 100% equity in Non Core DTH business to VeeCom Media.

🎯 PNB :
Punjab National Bank to raise Rs. 5k cr; appoints merchant bankers.

🎯 Wheels India :
Wheels India to close the operations at Pantnagar facility.

🎯 Singer India :
Stock split from FV Rs. 10 to FV Rs. 2.

Edited by Sharp.
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