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.
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