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.
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