5 Jan, Morning Brief

Flat to positive opening expected as SGX Nifty is trading up by 14 points.
Banking stocks helped yesterday to strengthen the close for the day. Banknifty took support at 25465 and re bounced and that of Nifty.

🎯 News & Impact 🎯

🎯 PSU banking sector :
India's biggest state-owned banks are likely to get Rs.80,000 crore of fresh capital this fiscal year after the government sought Parliament's nod for additional spending toward the infusion. Major beneficiaries may include State Bank of India, Bank of Baroda, Canara Bank and Indian Bank, said people aware of the matter.
Positive for the sector. 👍

🎯 Idea :
Aditya Birla Cos to invest Rs.3,250 crore in Idea Cellular to cut debt.
Positive for the stock. 👍

🎯 Hindalco :
Company to bid for USD 2.5 billion aluminum firm Aleris.
Positive for the stock. 👍

🎯 Rcom :
Chinese Bank plans to withdraw insolvency filing against Reliance Communications.
Positive for the stock. 👍

🎯 Aviation Sector :
Parliamentary panel Recommends Civil Aviation Min Fix A Sector-wise Upper Limit On Fares.
Cautious over the sector.

🎯 Take Solutions :
Take solutions incorporation of subsidiary in Colombia.

🎯 Bajaj Electricals :
CARE Ratings has assigned A one plus rating to commercial paper of Rs.500 crore.

🎯 Varun Beverages :
PepsiCo, Varun Beverages tie up for Tropicana, others.

🎯 JP Associates :
Jaypee aims to complete 24K flats by 2020 at Rs.8,000 crore cost.

🎯 Power Sector :
Govt is said to consider 7.5% tariff on imported solar panels.

🎯 NIIT :
Company acquires Eagle Productivity Solutions for USD 8.1 million.

🎯 GTL Infra :
Lenders plan Aircel, GTL Infrastructure merger to clear combined debt.

🎯 Western India Shipyard :
ICICI Bank takes Western India Shipyard to NCLT.

🎯 Electrosteel :
Tatas, the Dalmia group, Anil Agarwal’s Vedanta and a fund backed by Edelweiss are among the four who have submitted binding bids to buy Electrosteel Steels.

🎯 ONGC :
ONGC may have to pay a premium to acquire government's stake in HPCL.

🎯 Infosys :
Company partners with ValGenesis to further enable digitisation in Life Sciences.

🎯 HCL Tech :
Company terminates agreement with Great America Insurance Co.

🎯 RCF :
Company issued Commercial Paper for Rs.200 crore, in favour of State Bank of India. 

🎯 Swan Energy : 
The company announced that its subsidiary - Cardinal Energy & Infrastructure has received commencement certificate for the construction of residential building at Bangalore.

Edited by Sharp.
© Sharp Investment & Financial Advisers