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.
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