29 Dec, Morning Brief

Flat opening expected as SGX Nifty is trading up with just 9 points.

Yesterday, Nifty started on a bullish note but failed to hold gains and closed near its opening level making a ‘Spinning Top’ kind of indecisive pattern on the daily charts. 10460 will be considered as an immediate support and 10520 as an immediate resistance.

🎯 News & Impact 🎯

Listing Today :
Astron Paper

🎯 L&T :
Company has won a Rs.1,000-crore contract to maintain 5 million smart meters in Uttar Pradesh and Bihar over the next eight years.
Positive for the stock. 👍

🎯 Rcom :
Reliance Communications to sell its wireless business to Reliance Jio.
Positive for the stock. 👍

🎯 Star Cement :
Company has received Rs.158.82 crore towards capital investment subsidy claim from the government. 
Positive for the stock. 👍

🎯 Amulya Leasing & Finance :
Company promoter Sameer Gupta today sold over 35 % stake in the firm for more than Rs.98 crore.
Negative for the stock. 👎

🎯 Tata Global Beverage :
Tata Global Beverages (TGBL) has sold its stake in joint venture firm Estate Management Services Private Limited (EMSPL) for a consideration of Rs.120 crore.

🎯 Lupin Ltd :
Company received final approval from the US health regulator for its generic version of Dovonex scalp solution used in the treatment of psoriasis of the scalp.

🎯 SBI :
State Bank of India has received board approval for raising Rs.8,000 crore to meet Basel III capital adequacy norms through various instruments, including masala bonds. 

🎯 Bank of Baroda :
Bank will purchase its joint venture partner UniCredit’s entire 51 per cent stake in Baroda Pioneer Asset Management Company (AMC) and Baroda Pioneer Trustee Company Private Ltd (Trustee). 

🎯 Quess Corp :
Company acquired 100 % in Master Staffing Solutions between Manipal Integrated Services and Quess Corp.

🎯 Cairn India :
Company has acquired controlling stake in AvanStrate, a Japanese manufacturer of LCD glass substrate, with an investment of $158 million

🎯 Tata Steel :
Company is ramping up production at its Khondbond iron ore mine in Odisha to fuel expansion of the Kalinganagar plant.

🎯 Kolte-Patil Developer :
Global investment firm KKR will invest Rs. 193 crore in its township at Pune. 

Edited by Sharp.
© Sharp Investment & Financial Advisers

28 Dec, Morning Brief

Market may open with a positive note as SGX Nifty is trading up by 32 points. Again market may witness profit booking at higher levels.

🎯 News & Impact 🎯

New Listing Today :
Astron Paper & Board Mill

🎯 Auropharma :
Company received final approval from the US health regulator to manufacture and market its generic version of Fondaparinux Sodium injection used to prevent deep vein thrombosis.
Company arm Aurolife Pharma LLC gets US FDA nod for Lorazepam (0.5-2 mg) tablets (used to treat anxiety disorders, trouble sleeping, active seizures)
Positive for the stock.

🎯 Dr Reddy :
Company gets tentative US FDA nod for Sapropterin Dihydrochloride (100 mg) tablets (used to reduce blood phenylalanine concentrations in patients).
Positive for the stock.

🎯 Alkem :
Company gets US FDA nod for Ezetimibe & Simvastatin (10mg) tablets (a drug combination used to treat dyslipidemia).
Positive for the stock

🎯 Granules :
Company gets US FDA nod for Cetirizine Hydrochloride (10 mg) tablets (used to treat hay fever, allergies, angioedema).
Positive for the stock.

🎯 Auto Sector :
The Lok Sabha today approved a bill to hike cess on luxury vehicles from 15 % to 25 %.
Negative for the sector.

🎯 Rel Infra :
India Ratings upgrades long-term issuer rating to evolving from negative. 

🎯 Vedanta :
Company announced the acquisition of a controlling stake in Japanese glass substrate manufacturer AvanStrate Inc from global private equity firm Carlyle Group for $158 million.

🎯 IOB :
IOB is selling Rs 600 crore worth exposure in debt-laden steel firm Bhushan Steel Ltd.

🎯 IL&FS :
Company ties up with J&K Bank to finance Rs.2,000 crore hydropower projects.

Edited by Sharp.
© Sharp Investment & Financial Advisers

27 Dec, Morning Brief

Flat opening expected. Bulls will have to struggle to hold near life highs.

🎯 News & Impact 🎯

🎯 Canara Bank :
The board of the bank decided to raise additional equity capital amounting to Rs90 crore through QIP route.

🎯 Apollo Tyres :
Company recently raised Rs.1,500 crore through a QIP.

🎯 63 Moons Technologies :
Sebi penalised 63 Moons Technologies, formerly known as Financial Technologies, as it failed to seek prior approval for the name change from stock exchanges. 

🎯 Alembic Pharma :
USFDA has granted Orphan-Drug Designation for Tenalisib (RP6530) for it's
Associate Company, Rhizen Pharmaceuticals S.A. (Rhizen).

🎯 Dr. Reddy’s Lab :
Company launched Melphalan Hydrochloride for Injection, a therapeutic equivalent generic version of Alkeran (melphalan hydrochloride) for Injection used in the treatment of certain types of cancer and approved in the US market by the US Food and Drug Administration (USFDA), said a report.

🎯 Sun Pharma :
USFDA has accepted a new drug application (NDA), filed by its wholly owned subsidiary, for OTX-101 (cyclosporine A, ophthalmic solution)

🎯 Pidilite :
Board has approved a share buyback proposal of up to Rs.500 crore.

🎯 IDBI :
IDBI has disengaged Moody’s Investors Services (Moody’s) to rate its bond programmes.

🎯 Punjab & Sind Bank :
The Board of Directors approved raising of equity capital through Public Issue (Follow on Public Offer) / Right Issue / Qualified Institutional Placement(s) / Preferential Issue or any other mode or a combination(s).

🎯 Yes Bank :
Announces the acquisition of more than 5% stake in One Point One Solutions Limited ('OPOSL').

🎯 Prestige Estates :
Company announced the acquisition of 66.66% stake in a Group Company, Prestige Projects Private Limited for Rs. 324 Crore.

🎯 Jindal Steel :
Completes 3 MTPA steelmaking oxygen furnace installation at Angul, Odisha.
Completes Rs 33,000 crore capex program.

🎯 Infy :
Promoters stake post buyback rise to 12.90 % from 12.75 %.

🎯 DLF to consider allotment of compulsorily convertible debentures & warrants to certain promoter group entities on December 29.

Edited by Sharp.
© Sharp Investment & Financial Advisers

22 Dec, Morning Brief

Flat opening expected today.

Rising crude oil prices can be a concern of worry for the market.

Hope on US Tax bill and fastest growth in US economy in last 2 years lifted three major US indices up.

🎯 News & Impact 🎯

🎯 HDFC :
Deal To Sell Capital Of HDFC Developers & HDFC Realty For Rs.102 Cr & Rs.255 Cr Respectively to Quikr India.

🎯 Sunpharma :
Recalls Two Batches Of Diabetic Drug From US Market.

🎯 Auropharma :
Aurobindo Pharma Gets US FDA Nod For Amlodipine Besylate & Valsartan Tablets.
Positive for the stock.

🎯 NHPC :
Company approved amending the company's MoA to enable it to apply to power regulator CERC for trading licence. The decision is in line with the Power Ministry's plan to make NHPC an aggregator for meeting the demand of peaking power. 
Positive for the stock.

🎯 TCS :
TCS is assured of $320mn in business from Nielsen every year from 2017 to 2020, $186mn in annual revenue from 2021 through 2024 and $139.5mn in 2025.
Positive for the stock.

🎯 Bharti Airtel :
UIDAI Allows Co To Resume Aadhaar Based e-KYC Services.

🎯 Havells India :
The company announced its foray in the water purifiers segment aiming at Rs 100 crore revenue in the first year of operations.

🎯 Khaitan Electricals :
Seasite Finance Filed Application With NCLT Hyderabad To Initiate Corporate Insolvency Resolution Process (CIRP) Vs Co.

🎯 Canara Bank :
Canara Bank Proposes To Offload 4% Stake In Can Fin Homes.

🎯 Adani Power, Tata Power, Suzlon Energy, Inox Wind :
Wind power tariff hit new low of Rs. 2.43/unit.
Negative for the stocks.

🎯 Dilip Buildcon :
Company has been awarded two new EPC projects valued at Rs.517.81 Cr. by Ircon International.

Edited by Sharp.
© Sharp Investment & Financial Advisers

21 Dec, Morning Brief

Market expected to open on a flat note as SGX NIFTY is trading just 6 points down.

Yesterday, Nifty made a new life high but failed to hold at higher level and it's closing on Nifty daily chart formed a doji which says a halt in the rally and any sustainability above yesterday's high will help the index to move northwards strongly.

🎯 News & Impact 🎯

🎯 Rcom :
Jio leads the race to buy Reliance Communications' assets.
Positive for the stock.

🎯 Sun Pharma :
Sun pharma subsidiary Taro gets US FDA nod for Clindamycin Phosphate & Benzoyl Peroxide Gel (used to treat moderate acne).
Positive for the stock.

🎯 GIC Re :
Company has received approval to set up a syndicate at Lloyd's of London. The development is seen helping GIC Re broaden and diversify its international portfolio. 
Positive for the stock.

🎯 BoI, United Bank :
RBI has imposed certain restrictions on Bank of India and United Bank of India due to a sharp rise in non-performing loans and erosion in capital.
Negative for the stocks.

🎯 HDFC :
HDFC sold a 6.3 % stake in Computer Age Management System (CAMS) to Warburg Pincus for Rs 210 crore.

🎯 IVRCL :
Company enters into share purchase agreement with Cube Highways for sale of entire stake in Salem tollways and Kumarapalayam Tollways Ltd.

🎯 Pidilite :
Pidilite board to consider buyback of shares on December 26.

🎯 Varun Beverages :
Company to acquire Pepsico India’s franchised sub territory in Jharkhand.

🎯 Coal India :
Board approves long term linkage under SHAKTI auction for 9000 MW.

🎯 SQS India :
Assystem Services made an open offer to acquire 27.82 lakh shares, or 26 percent stake at Rs 475.27 each.

🎯 Textile Sector :
Cabinet approves scheme for capacity building in textile sector.
Positive for the sector.

Edited by Sharp.
© Sharp Investment & Financial Advisers

20 Dec, Morning Brief

Negative to flat opening expected as SGX Nifty is trading down by 22 points.

As Nifty marched towards previous high of 10490, profit bookings at higher levels expected.

🎯 News & Impact 🎯

🎯 Tata Steel :
To expand Kalinganagar capacity by 5m tons per annum to 8 MTPA. Total project cost will be Rs. 23500 Cr. Rs.12800 will be raised through Rights issue.

🎯 Coal India :
Coal India to introduce evacuations facility charges at 50/ tonne for dispatch of coal.
Positive for the stock.

🎯 Bharat Financial & IndusInd Bank :
Competition Commission of India approves the proposed amalgamation of Bharat Financial Inclusion with IndusInd Bank.

🎯 Jaypee Infra :
State Bank of India has invoked the pledge of 10 Crore Equity Shares.

🎯 HDFC: The HDFC board approved a proposal to raise Rs.13,000 crore by selling 5 per cent equity shares to institutional investors to expand health insurance sector.

🎯 Religare :
Edelweiss Financial Services is in advanced talks to buy the retail broking arm of Religare Enterprises.
Positive for the stock.

🎯 YesBank :
Yes Bank jointly invested $400 million with European Investment Bank (EIB) in new solar and wind projects in the country. 

Edited by Sharp.
© Sharp Investment & Financial Advisers

18 Dec, Morning Brief

Gap down opening expected as SGX Nifty is trading up by 86 points.
Market may remain highly volatile till the final count of Gujarat state assembly elections won't come out.

🎯 News & Impact 🎯

New Listing :
Future Supply Chain.

🎯 YesBank & IndusInd Bank replaced Cipla & Lupin into Sensex from today.

🎯 ICICI Securities files for IPO; plans public offer of up to 6.4 crore equity shares.

🎯 Cement Sector :
Govt raises import tax on petcoke to 10% from 2.5% after ending exemptions.
Negative for the sector.

🎯 Indiabulls Real Estate :
Company announces Mandarin Oriental Hotel Group as its hotel partner for their residential development, Hanover Bond.

🎯 JMC Projects :
Company secures new orders worth Rs.790 crore.

🎯 Shalimar Paints :
Company announces rights issue at Rs. 140/share; Ratio 6:32.

🎯 Orchid Pharma : 
Auropharma DRReddy lead race to buy orchid pharma.

🎯 TTML :
Company plans to pare cost and shut down loss making wireless telephony business to repay debt early.

🎯 IIFL :
Company plans to raise cash from offshore investors, will also invest in affordable housing projects.

🎯 Parsvnath Developers :
Company to invest Rs.100 cr to develop a mall in national capital.

🎯 Kesoram Industries :
Company to raise Rs.350 crore via issue of convertible warrants on preferential basis to promoter.

🎯 Dish TV :
Company receives approval from government for merger of Videocon D2H with company.

🎯 Raymond :
Raymond launched its first ever Rs.250 crore linen manufacturing plant at Amravati.

🎯 Eveready Industries :
Company received orders worth Rs.23.85 crore for supply of ceiling fans and smart LED street lighting luminaires from Energy Efficiency Services (EESL) and Kolkata Municipal Corporation

🎯 Jaiprakash Associates :
Company plans to sell off its five hospitality assets under the Jaypee Hotels and Resorts brand at an estimated asking rate of Rs.2,500 crore.

Edited by Sharp.
© Sharp Investment & Financial Advisers

15 Dec, Morning Brief

Market may open with a gap up as a cheer from exit pole results outcome the BJP will easily form the Govt.

🎯 News & Impact 🎯

Listing Today :
Shalby

🎯 Cadila Healthcare :
Company receives US FDA nod for Metronidazole (250-500 mg) tablets (used to treat pelvic inflammatory disease, endocarditis).
Positive for the stock.

🎯 Dr Reddy :
Company gets US FDA nod for Valganciclovir Hydrochloride tablets (an antiviral used to treat cytomegalovirus infection)
Positive for the stock.

🎯 Astrazeneca :
FDC of Dapagliflozin + Metformin hydrochloride film coated tablets expected to be launched in India in Q4 FY18.
Launch subject to receipt of import license from Drugs Controller General Of India.
Positive for the stock.

🎯 L&T :
Larsen & Toubro (L&T) said it has commissioned a 225 MW power plant in Bangladesh.

🎯 Union Bank / PNB :
12.93 crore shares allotment at Rs.154 per share under QIP aggregating to Rs. 2,000 Crore.

🎯 PNB :
Raised  Rs.5,000 crores through QIP.

🎯 Natco Pharma :
The pharma company has raised Rs 915 crore through issue of securities to qualified institutional investors, according to a regulatory filing. 

🎯 Gulf Oil :
Company starts commercial production at Chennai plant

🎯 Unitech :
HDFC sells 12.9 million shares, invokes 82 million pledged shares of Unitech.
Negative for the stock.

🎯 M&M :
M&M to hike prices by up to 3 % from January 2018.
Positive for the stock.

🎯 PNB :
PNB closes QIP issue; sets issue price at Rs.168 per share.

🎯 Godrej Industries :
Godrej Industries approves merger of Vora Soaps with Company.

Edited by Sharp.
© Sharp Investment & Financial Advisers

14th Dec, Morning Brief

Market will open up with a gap as SGX Nifty is trading up by 39 points.
10100 & 10320 are the key levels to watch for good move once breached.

🎯 News & Impact 🎯

The 7-2 vote for the rate move, the Fed’s third this year, raises the benchmark lending rate by a quarter percentage point to a target range of 1.25% to 1.5%

Results Updates :
🎯 Prataap Snacks : 
Prataap Snacks reported 223 % year-on-year rise in profit after tax figures at Rs.22.60 crore. 
Positive for the stock.

🎯 Maruti :
Maruti Suzuki to raise vehicle prices by 2 % from January.
Positive for the stock.

🎯 Manpasand Beverages :
RBI increases Manpasand Beverages' FII limit to 49 % from 24 % and allows further FII buying.
Positive for the stock.

🎯 Abott, Novartis :
Competition Commission of India has initiated an investigation against drug makers Abbott, Novartis, Emcure Pharma and USV over alleged price-fixing of the blockbuster anti-diabetic drug Vildagliptin.
Cautious over the stocks.

🎯 MEP Infra :
MEP has achieved the Milestone One for the project of Four Laning of Mahuva to Kagavadar of NH-8E from km. 100.100 to km 139.915.

🎯 Jaypee Infra :
SBI CAP invokes pledged shares of Jaypee Infra.

🎯 PVR Cinemas :
PVR entered into a strategic deal with a South Korean cinema technology company to increase the count of its 4DX screens.

🎯 IndiGO :
Interglobe Aviation offer for sale to non-retail investors gets subscribed 1.12 times.

🎯 IndusInd Bank :
RBI imposes penalty of Rs.3 crore on IndusInd Bank for non-compliance with IRAC norms.

🎯 Corporation Bank :
RBI imposes restrictions on Corporation Bank as its bad loans crosses 10%

🎯 Tata Communications :
The board of Tata Communications approved demerger of around 773 acres of surplus land to a separate company and listing it subsequently in the ratio of 1:1.

🎯 Ruchi Soya :
Company says Co Declared A Willful Defaulter By IDBI Bank (Ruchi Soya Part Of 28 Cos On RBIs Second Defaulters List).

Edited by Sharp.
© Sharp Investment & Financial Advisers

8 Dec, Morning Brief

Market continued yesterday's pullback. Nifty trading up nearly 56 points.

🎯 News & Impact 🎯

🎯 Jet Airways :
Net profit at Rs.49.6 crore versus Rs 549 crore (YoY).
Revenue at Rs 5,626.6 crore versus Rs 5,453.2 crore (YoY).
Negative for the stock.

🎯 Cipla :
Cipla gets US FDA nod for Olopatadine eye drops.
Positive for the stock.

🎯 GAIL :
Gail awards laying contract for 520km pipeline from Dobhi (Bihar) to Durgapur (West Bengal).
Positive for the stock.

🎯 SAIL :
Company has finalized terms for a Rs. 6,000 crore plant with Arcelor Mittal to cater to the automobile sector.
Positive for the stock.

🎯 ONGC, Oil India :
Gas from North East Fields may fetch higher prices.
Positive for the stocks.

🎯 Biocon :
Board approves transfer of biosimilars business via slump sale to Biocon Biologics.

🎯 Lupin :
Lupin initiates recalls of anti-depression drug Duloxetine Delayed-release capsules manufactured at Goa facility.

🎯 Cadila Healthcare :
Initiates recall of anti-depression drug Paroxetine tablets due to presence of foreign tablets/capsules in bottles.

🎯 Reliance Naval :
The Bombay HC has scuttled a last ditch attempt by the Anil Ambani company Reliance Naval and Engineering to prevent proceedings in the bankruptcy court, dismissing a petition by the company challenging the invocation of a corporate guarantee by IFCI.
Negative for the stock.

🎯 TVS Motor :
Company buys 15 % stake in electric two wheeler firm Ultraviolette.

🎯 SpiceJet :
Ajay Singh pledges more shares amid Maran dispute, pledged shares rose to 24.37 percent in September 2017 versus 20.19 percent in June 2017.

🎯 Parsvanath Developers :
Company settles a case with SEBI w.r.t. alleged violation of capital market norms

🎯 Emami :
Company to acquire 30 % stake in Helios Lifestyle which owns the online premium male grooming brand The Man Company by December 2018.

🎯 Sonata Software :
Company arm to acquire 15 % stake in Danish company for USD 96,000.

Edited by Sharp.
© Sharp Investment & Financial Advisers

7 Dec, Morning Brief

Flat opening expected as SGX Nifty trading just 1 point up.

The Nifty opened at 10,088 and rose to an intraday high of 10,104 but finally closed 74 points lower at 10,044. Nifty breached its crucial 100-days moving average.

🎯 News & Impact 🎯

🎯 Circuit Filter revised
5-20% - HFCL, Bombay Dyeing, Soril Infra, 63 moons.

10-20% - Hind Copper, Purvankara, Kitex, MMTC, 8K Miles, Shalimar Paints, GNFC, GM breweries,

5-10% - Adani Transmission , Deccan Gold, Graphite India, OK play, Ansal properties, Liberty Shoes.

🎯 Just Dial :
Sequoia Capital has exited its investment in Just Dial, sold 1.9% Stake shares.

🎯 IDBI Bank :
Board approved to sale 7% Stake in NSDL.

🎯 Hatsun Agro :
Company to raise funds via Rights basis aggregating up to Rs. 900 crores

🎯 Wiezman Forex :
Girik wealth advisors bought 70,000 I.e 0.6% Shares at Rs 1399/share.

🎯 DLF :
DLF sold flats worth Rs.300cr in Gurgaon last month.

🎯 Bhushan Steel, Essar Steel, Electro Steel, Monnet Ispat - Top 5 steel firms need to pay Rs 29,000cr to bid.

🎯 Claris Lifesciences :
Company board finds delisting option best for shareholders.

🎯 Quess Corp :
Company receives NCLT Bengaluru’s approval to acquire facility management and catering business of Manipal Integrated services.

🎯 Bank Of Maharashtra :
Bank Sets 1-year MCLR At 8.65% w.e.f. Dec 7.

🎯 Wipro :
Wipro will open a 13,000-square foot office in London.

Edited by Sharp.
© Sharp Investment & Financial Advisers

6 Dec, Morning Brief

Negative opening expected as SGX Nifty is trading down by 42 points.

All eyes on RBI credit policy outcome today. Expected move is to keep interest rates unchanged.

IPO Watch :
Future Supply Chain Solutions IPO opens today.

🎯 News & Impact 🎯

🎯 Reliance Power :
Asian Development Bank (ADB) has approved debt financing and partial risk guarantees totalling $583 million, or about Rs 3,754 crore, for Reliance Power's liquefied natural gas terminal and a 750MW LNG power plant being set up in Bangladesh.
Positive for the stock. 👍

🎯 Sun Pharma :
Gets Tentative US FDA Nod For Tadalfil Tablets (2.5-20 mg) (Used To Treat Erectile Dysfunction, Arterial Hypertension).
Positive for the stock.

🎯 Aurobindo Pharma :
Gets Tentative US FDA Nod For Ranolazine Tablets (Used To Treat Angina).
Positive for the stock.

🎯 Shilpa Medicare :
Company received 10 observations from U.S. FDA for its Telangana plant.
Cautious over the stock.

🎯 Rcom :
Fitch withdraws Reliance Communications’ Rating For Commercial Reasons.
Negative for the stock.

🎯 Tata Communication​ :
Fleet Management Provider DRVR Selects Co As Its IoT Connectivity Partner.

🎯 Escorts :
India-Ra upgrades the Long term rating to A+ and Short term rating to A1+ with 'POSITIVE' outlook.

🎯 Amtek Auto :
Amtek Auto avails interim finance of 100cr from ECL Finance, subsidiary o f Edelweiss.

🎯 VRL Logistics :
HSBC has retained ‘buy’ rating on VRL Logistics.

🎯 Bharti Airtel :
CLSA has reiterated ‘buy’ rating on Bharti Airtel.

🎯 Balaji Amines :
Ind-Ra upgrades rating to A+ from A.
Positive for the stock.

🎯 Lanco Infratech :
Lanco looks to sell four renewable energy assets.

🎯 Dalmia Bharat :
Company joins hands with Piramal Bain fund to bid for Binani.

🎯 Bharat Financial :
RBI Removes Bharat Financial Inclusion From FII Purchase Caution List.

🎯 L&T Finance :
To Raise Rs.500 Cr Via NCDs.

Edited by Sharp.
© Sharp Investment & Financial Advisers

5 Dec, Morning Brief

Market may open on a negative side as SGX Nifty is trading down by 29 points.

Yesterday market failed to keep the momentum and closed near the opening point.
The Dow Jones hit the record high but Nasdaq slipped by 72 points.

IPO :
IPO of Ahmedabad-based multi-specialty hospital chain Shalby opens today.

🎯 News & Impact 🎯

Fitch Cut India GDP Forecast For FY18 To 6.7% From 6.9% Earlier.
FY19 Forecast Cut To 7.3% From 7.4% Earlier.

🎯 Eros :
NYSE-listed Eros International, the holding company of Indian film studio Eros International Media, has entered into definitive agreement to raise $100 million from an institutional investor. The move will help the company repay $53 million outstanding under its revolving credit facility.
Positive for the stock. 👍

🎯 Just Dial :
HDFC MF buys 1.3% Stake.
Positive for the stock. 👍

🎯 Aurobindo Pharma :
Company gets USFDA approved for generic of Seroquel XR tablet.
Positive for the stock. 👍

🎯 Bharti Airtel :
Company has acquired a stake in Juggernaut Book.

🎯 ONGC :
Corporation’s partners in six pre-NELP blocks will have to share royalty, cess and other government charges with the state firm in proportion to their stakes.

🎯 Bank of Maharashtra :
Bank of Maharashtra's QIP opened on December 4 with a floor price of Rs.26.8.

🎯 REC :
Company may raise USD 600mn via dollar bonds.

🎯 Nestle India :
Nestle India on Monday declared an interim dividend of Rs 33 per share for 2017.

🎯 Rcom :
Fortuna Public relations becomes the 5th co to file insolvency plea against RCom.

🎯 Kirloskar Oil Engines :
Kirloskar group is in talks to sell controlling stake in co.

Edited by Sharp.
© Sharp Investment & Financial Advisers

4 Dec, Morning Brief

Market likely to open on a positive note as SGX Nifty is trading up by 28 points. 10230 would be a hurdle now to cross.

The RBI will announce the policy review on December 6 after two days of MPC meeting beginning December 5.

🎯 News & Impact 🎯

🎯 November Auto Sales
Tata Motors
Total Exports (RD)12.4% At 4,927 Units Vs 5,626 Units (YoY).
Tata Motors Total Domestic PV Sales (GU)35% At 17,157 Units Vs 12,736 Units (YoY)
Tata Motors Total Domestic CV Sales (GU)71.9% At 35,307 Units Vs 20,538 Units (YoY).
Positive for the stock. 👍

Heromotoco :
Hero MotoCorp Total Sales At 6.05 Lakh Units, (GU)26% (YoY).
Total Motorcycle Sales At 5.25 Lk Units & Scooter Sales At 80,046 Units.
Positive for the stock. 👍

🎯 Biocon :
USFDA approves Mylan and Biocon's Ogivri™ the First Biosimilar for Trastuzumab, for the Treatment of HER2 for breast and Gastric cancer treatment.
Positive for the stock. 👍

🎯 DLF :
Promoters to infuse Rs 11250cr.

🎯 Escorts :
Credit Suisse has initiated coverage on Escorts with an outperform rating.
Positive for the stock. 👍

🎯 MT Educare :
Zee learning to buy a controlling stake in the company.
Positive for the stock. 👍

🎯 Dr Reddy's Lab :
Received Zero Observations From US FDA For Miyapur Unit In Sep.
Positive for the stock. 👍

🎯 JSW :
From Cogencis | Fitch Says Could Downgrade JSWL Steel's Rating In 2018 Due To High Leverage.
Negative for the stock.

🎯 Transformers and Rectifiers :
Company receives Rs.127cr order from Power Grid to supply 15 transformers; Current order book at Rs. 937cr.

🎯 Alphageo :
Company received award of contract from ONGC Ltd, Vadodara (Guj) for an estimated contract value of Rs.154.77 crore.

🎯 Mirc Electronics :
Company issues 1.9cr shares to non promoters at Rs. 37/share.

🎯 JSW Energy :
Company has successfully secured PPAs aggregating to 208MW. 

🎯 Wipro :
National Grid US Filed Lawsuit Against Co In US Court.

🎯 Dena Bank :
Cuts MCLR Rate By 5-15 Bps In Some Tenors.

🎯 Central Bank Of India :
Cuts MCLR Rate By 5-20 Bps In Most Tenors.

🎯 Artson Engineering :
The company has received a Letter of Intent from Tata Projects for supply of fabricated structures 10,000 mt worth Rs 62 crore. 

🎯 Piramal Enterprises :
Piramal Finance, the financial services unit of Piramal Enterprises, is accelerating lending to construction companies.

🎯 Mining Sector :
After The US, India Will Be Also Be Under Pressure To Cut Corporate.
Positive for the sector. 👍

Edited by Sharp.
© Sharp Investment & Financial Advisers