1 Mar 2018 Morning Brief

A gap down opening expected as SGX Nifty is training down by 46 points.

January Core Sector Data

Coal Sector Output Up 3% Vs 0.1% Decline (MoM)

Crude Oil Output At 3.2% Vs 2.1% Decline (MoM)

Natural Gas Output Down 1% Vs 1.2% Rise (MoM)

Petro Refinery Products Output Up 11% Vs 6.6% Rise (MoM)

Fertiliser Output Down 1.6% Vs 3% Rise (MoM)

Steel Output At 3.7% Vs 2.5% Rise (MoM)

Cement Output Up 20.7% Vs 18.8% Rise (MoM)

Electricity Output Up 8.2% Vs 4.4% Rise (MoM)

Eight Core Ind Growth At 6.7% Vs 4.2% (MoM)

April-Jan Eight Core Ind Growth At 4.3% Vs 5.1% (YoY)

Q3FY18 GDP Data

Q3FY18 GDP Growth At 7.2% Vs 6.5% (QoQ) & Vs 6.7% (YoY).

🎯 News & Impact 🎯

🎯 Cadila Healthcare :
Company received the final approval from USFDA to market Dexmedetomidline Hydrochloride injection.

🎯 Fortis Healthcare :
Auditor raises three ted flags. Lenders invoked more shares; founders’ stake reduced to 0.7 % from 3 %.

🎯 Reliance Power :
Company approved raising of up to Rs. 2,000 crore via QIP to cut debt.

🎯 HCL Infos :
Company arm to sell HCL MEA FZE share to Axis Investment for 4.12 million UAE dirhams.

🎯 Bharti Airtel :
Company wants to exit tower business.

🎯 SH Kelkar :
Company says fragrance industry will pass on the increased impact of volatile raw material prices to customers.

🎯 Idea :
Idea cellular will launch VoLTE services in select markets starting March 1.

🎯 MOIL :
MOIL increases prices of products from March 1.

🎯 ICICI Bank : 
Bank says bank is a part of working capital consortium to Gitanjali Gems wherein its exposure is not the largest.

🎯 Tata Power :
The validity of PPA between BEST and TPC-G has been extended for one year from 1st April 2018 for revised quantum of 676MW.

🎯 L&T Infotech :
Sale of shares by promoters to meet minimum public shareholding.

🎯 Ashoka Buildcon :
Macquaire bag ToT projects worth Rs. 9700cr

🎯 IB Realty :
Company to acquire Farallon’s stake in Singapore trust.

🎯 Dilip Buildcon :
Company has declared L-1 bidder by the National Highways Authority of India for three new projects valued at Rs 5390 crore.

🎯 Dynamatic Technologies :
Board approved plan for demerger of auto division.

🎯 Xpro India to sell/transfer Pithampur unit to JKM Ventures for Rs.14 crore.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers

27 Feb 2018 Morning Brief

Positive opening expected as SGX Nifty is trading up by 25 points.
The upside for Nifty 50 can be braced around 10670-10800. A decisive bull run will start above 10800.

🎯 News & Impact 🎯

🎯 LT Foods :
CRISIL upgrades long term and short term ratings of the Co.
Positive for the stock. 👍

🎯 PNB :
Bank reveals possibility of additional fraud of Rs.1,325 crore in Nirav Modi case.

🎯 Ambuja Cements ACC :
Ambuja cement said that it is not pursuing the merger with ACC owing to some constraints. Meanwhile, the board approved an arrangement with ACC for the sale and purchase of materials and services.

🎯 Coffee Day :
KKR sells 5.9% stake in Coffee Day enterprises to raise Rs.405cr.

🎯 Reliance :
RIL-BP’s USD 4bn investment plan in KG-D6 approved.
The company has won arbitration of Rs. 292 Cr against the Govt. of Goa.

🎯 PFC inks MoUs with UP power utilities to provide financial assistance of Rs.50,200cr.

🎯 Jain Irrigation :
Company's subsidiary invests in Innova Food NV Belgium. CY17 turnover of the acquired co - Euro 23.6mn.

🎯 M&M :
Company collaborates with LG Chem to for Lio-on battery technology to support EV revolution in India.

🎯 IOB :
IOB approves preferential issue of shares to GoI upto Rs.4694cr.

🎯 Music Broadcast :
Radio city and Apple music launch Bollywood countdown show.

🎯 HDFC Bank :
Bank said that it will work closely with SEBI on information leakage.

🎯 Gujarat Sidhee Cement :
Company commissions 5.5 megawatt power plant.

🎯 Sagar Cements :
Company to acquire 4.3 megawatt hydel power projects for Rs.26.9 crore.

🎯 Indiabulls Real Estate :
Company seeks shareholders’ approval for divestment of stake in Indiabulls Properties.

🎯 IMAX :
Imax inks a new five-year pact with PVR Cinemas.

🎯 Amtek Auto :
Amtek auto creditors may offer to sell Amtek along with its units.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers

23 Feb, Morning Brief

Flat opening expected as SGX Nifty is trading up by just 18 points.
10300 will considered as a good support and 10500 as a resistance for a while.

🎯 News & Impact 🎯

🎯 Relinfra :
Company has won engineering, procurement & construction (EPC) contract from Tamilnadu Generation & Distribution Corporation worth Rs. 3647 cr.
Positive for the stock. 👍

🎯 Balaji Amines :
The ministry of commerce & industry has recommended Central Govt. anti dumping duty for a period of 5 years for the product exported from China/Turkey.
Negative for the stock.

🎯 Corpbank :
CARE downgrades rating for various bonds to negative due to continuous stress on asset quality and associated cost impacting performance of bank.
Negative for the stock.

🎯 MCX :
Raised limit to 25 lakhs from 2 lakhs payable to investors from investors' protection fund.

🎯 Fortis Healthcare : 
All existing F&O contracts will expire on March 28, and no fresh contracts will be available if the firm fails to submit results for quarters ended September and December 2017 by March 1.

🎯 Federal Bank : 
Board approved buying 26 % stake in Equirus Capital.

🎯 Mahanagar Gas :
Company will bid for more city gas networks in the next auction.

🎯 Genus Paper & Boards :
Company signed two MOUs for setting up Kraft Paper manufacturing plant.

🎯 Bank of Baroda :
Bank said that it has no exposure to LOUs issued by PNB in the alleged fraud case involving Nirav Modi.

🎯 Videocon :
Videocon Ind To Sell 26 % Stake To DP Jindal Grp, 25 % To ENAM Holdings.

🎯 Dilip Buildcon :
Company bagged engineering, procurement, and construction project worth Rs.157 crore from Karnataka government.

🎯 Aditya Birla :
Idea Payments Bank has commenced operations.

🎯 Great Eastern Shipping :
Company completed its sale of vessels.

🎯 Adani Transmission :
Company received letter of intent for one inter-state transmission project in Rajasthan.

🎯 Jaypee Infra :
JSW Group offers highest bid for Jaypee Infra, offering a little over Rs.9,900 crore to bank (Economic Times).

🎯 Axis Bank :
Bank asks CIO Amit Sethi to resign following whistleblower complaint. 

🎯 Indiabulls Housing Finance :
Company allots NCDs aggregating to Rs. 3000cr.

🎯 GE Shipping :
Great Eastern shipping completed sale of its vessels.

🎯 Yash Papers :
Company enters into MoU of Rs.73.44cr with UP govt to expand its paper unit III.

🎯 Ultratech Cement :
Company leading the race to take over Binani Cement.

Edited by Sharp.
© Sharp Investment & Financial Advisers

21 Feb, Morning Brief

A positive opening expected as SGX Nifty is trading up by 68 points.
To hold the steam throughout the day, the bank nifty should turn to gain and should maintain above 25000 level.

🎯 News & Impact 🎯

🎯 Eros :
Reliance Industries to acquire 5 % stake in Eros International Plc for $48.75 million, announces Joint Partnership to set-up an Rs.1,000 crore corpus to co-produce and consolidate content.
Positive for the stock.

🎯 Union Bank :
Bank said that it classified Rotomac Global account as a non-performing asset in October 2016.

🎯 Bank of Baroda :
Bank discloses Rs.456.6 crore exposure to Rotomac Global.

🎯 Bank of India :
Gets shareholders' nod to issue fresh capital as tier-I/tier-II bonds for pref shrs for amount up to Rs. 10,000 cr.

🎯 Weizmann Forex :
Company postponed the demerger of wind power operations in Karma Energy for fundraising.

🎯 HDFC :
HDFC disburses Rs.28bn loans under Central scheme.

🎯 Liberty House :
Company submits bid for Bhushan Power.

🎯 Edelweiss units invoke 3.9 % stake in Fortis Healthcare; reduces shareholding to 4.17 %.

🎯 Dilip Buildcon :
Company bags order worth Rs.380 crore from NHAI in Karnataka.

🎯 HDIL :
The NSE to exclude futures and options contracts of HDIL from April 27.
Positive for the stock.

🎯 Central Bank of India :
Bank to consider raising up to Rs.4,835 crore via preferential issue on Feb. 23.

🎯 Nitin Spinners :
Company approves preferential issue of 3.32 lakh equity shares at Rs.120.5 apiece to promoters.

🎯 Mawana Sugar to acquire the entire stake of Usha International in Mawana Foods Pvt. Ltd. for Rs 24.83 crore.

🎯 Max India :
Company said that its joint venture partner is exploring stake in Max Healthcare.

🎯 Gitanjali :
High Court asked cops to probe into allegations against Gitanjali Gems promoter Mehul Choksi.

Edited by Sharp.
© Sharp Investment & Financial Advisers

20 Feb, Morning Brief

A flat opening will be expected as SGX Nifty is trading down by just 11 points.

Asian stocks declined with U.S. futures and the dollar rose as Treasury yields climbed back toward recent four-year highs. US markets were closed yesterday on account of President Day's holiday.

🎯 News & Impact 🎯

🎯 Fortis Healthcare :
Company clarifies that it hasn’t gotten any communication about an SFIO probe into the company. (Note: India’s serious fraud office is said to probe Fortis, Religare for alleged irregularities.
Promoters holding falls to 8.85 % from 34.33 % earlier.
Positive for the stock. 👍

🎯 KEC International: 
Company's promoter Instant Holdings bought over 1 % stake in the infrastructure major for Rs.111 crore through an open market transaction. 
Positive for the stock. 👍

🎯 M&M :
Company to make an additional investment of over Rs.500 crore for electric vehicles and electric components at its Chakan plant.

🎯 Axis Bank :
Axis Bank has hiked its benchmark marginal cost of funds based lending rate (MCLR) by 10 basis points in the three month-tothree-year bucket effective from February 17.

🎯 Sun Pharma :
Sun pharma unit's holding in Ranbaxy Malaysia to rise to 90.7 %.

🎯 HDFC :
HDFC and M&A talks with Apollo Munich.

🎯 GSK Consumer Healthcare :
Company to enter protein supplement segment.

🎯 JSW Energy :
inks MoU with Maharashtra to make electric vehicles

🎯 Vardhman Special Steels :
Company’s QIP closes today; Issue price fixed at Rs.140 apiece.

🎯 Vascon Engineers :
Company signs pact with Lina Ashar Foundation to develop Pune land parcel.

🎯 Advanced Enzyme :
Board approves additional investment of 300,000 ringgit in Malaysian unit.

🎯 Gayatri Projects :
Gayatri projects announces reorganisation of its energy business.

🎯 Pratibha Industries :
Company says the lenders are advised to submit a resolution plan.

🎯 Godawari Power :
Godawari power & Ispat board approves amalgamation of Jagdamba Power & Alloys with self.

🎯 UCO Bank :
Bank seeks shareholders’ nod to issue shares worth up to Rs.6,510 crore on a preferential basis to the government.

🎯 Religare Enterprises :
Company approves raising funds through the issue of warrants worth Rs.916 crore.

🎯 Amtek Auto :
Deccan value is top bidder for Amtek Auto.

Edited by Sharp.
© Sharp Investment & Financial Advisers

16 Feb, Morning Brief

Market will open positively as SGX Nifty is trading higher by 31 points backed by positive US markets.
Nifty should overcome and sustain above its hurdle level of 10620 to leap towards 10700 mark.

🎯 News & Impact 🎯

🎯 Fortis :
SC allows sale of Fortis health shares pledged with lenders.
Negative for the stock.

🎯 PNB :
ED Seizes Diamonds, Jewelry, Gold Worth Rs. 5,100 Cr During Searches In Nirav Modi Case.
Raids Continue, Valuation Of Tangible & Intangible Assets Seized To Increase Further.

🎯 Idea :
Idea Cellular board to meet on Feb 21 to cosnider the issue price of shares to be allotted under the QIP.

🎯 Network 18 :
TV18 Home shopping network ltd and NW18 HSN Holding Plc cease to be subsidiaries of the Co.

🎯 Capital First :
Company to consider and approve private placement of NCDs on Feb 21.

🎯 Sterlite Power Grid Ventures :
Indigrid Trust to acquire three power transmission assets from Sterlite Power Grid Ventures Ltd.

🎯 Future Consumer :
To allot NCDs for an amount not exceeding 150cr.

🎯 IDBI Bank :
IDBI Bank divested 30% stake in NSDL E-governance Infrastructure.

🎯 Indoco Remedies :
Company granted EU FMP Certification for Goa plant III.

🎯 Sunteck Realty :
Company issuance of commercial paper of Rs.50cr.

🎯 Yes Bank :
Yes bank to consider proposal to raise funds via debt securities or on private placement basis on Feb 20.

🎯 Akzo Nobel :
Company opens Rs.65cr powder coatings facility in Thane.

🎯 Infy :
UCAS appointed Infosys as its core technology partner up to 2021.

🎯 HDFC :
HDFC allots 2.49 crore shares to investors at Rs.1,726.05/share on a preferential basis.

🎯 SBI and Union Bank are said to be exposed to $1.8 billion PNB fraud case.
Allahabad Bank’s exposure at about Rs. 4,000 crore in PNB fraud case. Union Bank’s exposure at about Rs.1,000-2,000 crore in PNB fraud case.Axis Bank’s exposure at about Rs. 2,000-3,000 crore in the PNB fraud case.

🎯  Prakash Industries :
Company to raise Rs.208 crore from promoters by issuing 1 crore convertible warrants.

🎯 8K miles :
Company launched proprietary Blockchain platform 8K Health Edge.

🎯 Mahindra and Mahindra to invest Rs. 176 crore in Zoomcar India.

🎯 Som Distilleries & Breweries :
The company announced that the company will start its Maharashtra operations from 16 February 2018. The initial launch would start from Nagpur.

🎯 Chandni Textiles Engineering Industries :
The company announced that the National Company Law Tribunal (NCLT) vide its order approved the Scheme of Arrangement and the Company received the certified copy of the order from NCLT on January21.

🎯 Salasar Techno Engineering :
The Board of Salasar Techno Engineering approved a scheme of merger and arrangement between the company and Salasar Stainless, a wholly owned subsidiary of the company primarily engaged in manufacturing of stainless steel pipes and tubes and other related activities.

Edited by Sharp.
© Sharp Investment & Financial Advisers

9 Feb, Morning Brief

Another gap down opening can be witnessed because of US markets crack. Results into fall in Asian indices. Nikkei down by more than 3%. SGX Nifty is trading down by 237 points at 10324. 😱

🎯 News & Impact 🎯

Major Results Today :
SBI, Bata, Bank of Baroda, BPCL, ONGC, Sun TV, Tata Steel

🎯 Relcapital :
Net Profit Gross Up 8.5 % At Rs.280 Cr Vs Rs. 258 Cr (YoY).
Revenue Gross Up 20.4 % At Rs. 4,749 Cr Vs Rs.3,945 Cr (YoY).
Positive for the stock. 👍

🎯 SAIL :
Net Profit At Rs 43 Cr Vs Loss Of Rs. 794.84 Cr (YoY).
Revenue Gross Up 35.6 % At Rs.15,323 Cr Vs Rs.11,298 Cr (YoY).
EBITDA At Rs 1,439.6 Cr Vs EBITDA Loss Of Rs 42.9 Cr (YoY).
EBITDA Margin At 9.4 %.
Positive for the stock. 👍

🎯 Fortis :
Mr Malvinder Singh and Shivinder Singh have tendered resignation from the directorships of Fortis.
Positive for the stock. 👍

🎯 Vedanta :
Company to close all mining operations in Goa from March 16.

🎯 Indraprastha Gas :
Company got authorization for Karnal CGD Network.

🎯 Mcnally Bharat :
Board to consider fund raising on Feb. 13.

🎯 Marathon Nextgen :
Board approved stock split.

🎯 SQS India :
BFSI shut down Australian branch office.

🎯 Eros International :
Company divested its entire 51 % stake in wholly owned subsidiary Ayngaran International to a British citizen.

🎯 Canara Bank :
Company to raise up to Rs.1,000 crore via QIP, rights, preferential issue of shares.

🎯 Trent :
Company to raise funds through issue of commercial paper upto an amount not exceeding Rs. 200cr

🎯 Indiabulls Real Estate :
Company to meet on Feb 14 in relation to demerger of residential and commercial business.

🎯 Indian Bank :
Bank changed in overnight MCLR for various tenors.

🎯 Vijaya Bank :
Bank issue of equity shares to govt on preferential basis for a amount upto Rs. 1277cr.

🎯 Allahabad Bank :
Staff allege coercion in bank’s share sale process.

Edited by Sharp.
© Sharp Investment & Financial Advisers

6 Feb, Morning Brief

Another gap down opening can be experienced today as SGX Nifty is trading down by 346 points today as a result of over 3% fall in US markets last day and panic meltdown in Asian markets. Hang Seng down by 1000 points and Nikkei down by almost 5%.

Major Results Today :

Heromotoco, Lupin, PNB

🎯 News & Impact 🎯

🎯 Tata Motors :
Warburg Pincus call off USD 360 million Tata Tech deal

🎯 Torrent Pharma :
Company enters round II in Sanofi Generic unit auction.

🎯 Bank of Baroda :
Bank cuts 6-month MCLR to 8.15% from 8.25%

🎯 Mangalam Organics :
Company signs alliance to manufacture and supply Terpene Phenolic Resin. Will sell product exclusivel to DRT for distribution.

🎯 Ruchi Soya :
Company announces expression of interest for investment in the Company.

🎯 Uttam Galva :
Arcelor Mittal to sell Uttam Galva stake.

Edited by Sharp.
© Sharp Investment & Financial Advisers

5th Feb, Morning Brief

Another gap down even will be experienced today. SGX Nifty is trading down by 117 points at 10601.

Dow Jones plunged nearly 666 points, a highest since 2008 mayhem on Friday, 2nd Feb as bond yields rose after the government reported that wages grew last month at the fastest pace in eight years.The increase in bond yields hurts US markets in two ways it makes it more expensive for companies to borrow money and it also makes bonds more appealing to investors than riskier assets such as stocks.

10770, 10625 and 10440 were the primary support levels for the Nifty50, from which 10770 was tested and Nifty50 closed just below the immediate one. Six bi-monthly RBI's monetary policy will be announced on 7th Feb, and no rate cut can be discounted in this fall as retail inflation rise to a 17 months' high.

Major Results Today :
Tatamotors, Colpal, Bosch

🎯 News & Impact 🎯

🎯 Thomas Cook :
Revenue up 51.2 % at Rs.3,005.4 crore versus Rs. 1,988.02 crore.
Margins at 4.0 % versus 2.7 %
PAT up 14 times at Rs.58.4 crore versus Rs 4.2 crore.
Positive for the stock. 👍

🎯 ITC :
Credit Suisse has upgraded ITC to 'outperform' from 'neutral.
Positive for the stock. 👍

🎯 Auropharma :
Auropharma gets US FDA nod for Niacin (50 mg-1 gm) tablets (used to prevent heart disease in patients with high cholesterol).
Positive for the stock. 👍

🎯 Bharti airtel :
Singtel to invest Rs.2,649 crore in promoter company, Bharti Telecom via preferential issue to increase stake to 48.9 % from 47.2 %.

🎯 Gail :
Places order of Rs 440 crore for 350 kilometers Vijaipur(UP) – Auraiya(MP) spurline.

🎯 GMR Infra :
Company to acquire 4,15,80,000 shares of face value of Rs.10 each, representing 11 % equity stake in GMR Hyderabad International Airport Limited (GHIAL) collectively from Malaysian Airports Holding Berhard.

🎯 Strides Shasun, Orchid Pharma :
Strides Shasun, Nectar Lifesciences and private equity firm Blackstone have emerged as frontrunners for bankrupt Orchid Pharma with Aurobindo and Dr Reddy's backing out.

🎯 JP Power :
Jaiprakash Power Ventures has offered its Nigrie power project to NTPC for acquisition, while SBI has proposed stake sale in three stressed plants of Bajaj Lalitpur, Jaypee Infratech and Jindal India Thermal to the state-run firm.

🎯 Sintex Plastics :
 To issue warrants to promoters aggregating to Rs.600 crore.

🎯 Cosmo Films :
Company commissions second Cast Polypropylene line.

🎯 NBCC :
Company says letter of approval from the Government of Assam for construction of Twin Tower Trade Centre at Guwahati, Assam amounting Rs.2,000 crore.

🎯 Windsor Machines :
Company has entered into an 'Investment Agreement' on February 2, 2018 with R Cube Energy Storage Systems LLP (R Cube Energy) for making strategic investment.

🎯 Tata Steel :
Company completes completion of 74 % stake in Bhubaneshwar Power for Rs.255 crore.

🎯 M&M :
Company bags Rs.110 crore order for 1000 electric vehicles from Bengaluru transportation companies.

🎯 Reliance :
Reliance emerges sole contender to acquire stake in JBF Industries.

🎯 Godrej Properties :
The company has sold 2 lakh sq ft area in its commercial building at Bandra- Kurla complex in Mumbai for nearly Rs 700 crore so far this fiscal.

🎯 Liberty House in talks with banks over revised Amtek Auto.

🎯 Godrej Properties :
Company sells office space worth Rs.700 crore in Mumbai.

🎯 Adani Enterprises :
Australia will not finance rail link for Adani Project.

Edited by Sharp.
© Sharp Investment & Financial Advisers