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.
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