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
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