6 Mar, Morning Brief

A gap up opening expected as SGX Nifty is trading up by 47 points.
As mentioned yesterday, Nifty has strong support between 10290 - 10340 levels. Again it's interesting to see whether Nifty can cross recent resistance levels of 10450 & 10550.
Yesterday's candle on daily chart for Nifty signals sort of trend reversal indication.

🎯 News & Impact 🎯

🎯 ONGC :
Company received approval from the Govt. of Mozambique for the development plan of Golfinho-Atum natural gas field in the southern African nation.
Positive for the stock. 👍

🎯 DLF, HDIL :
Land prices rise by 40% along proposed Delhi-Jaipur expressway.
Positive for the stock. 👍

🎯 Bank of Baroda :
Bank leaves MCLR unchanged for March.

🎯 Axis Bank :
RBI imposes Rs.3 crore penalty on Axis Bank for non-compliance of NPA classification norms.

🎯 Indian Overseas Bank :
RBI imposes Rs.2 crore penalty on Indian Overseas Bank for non-compliance of NPA classification norms.

🎯 SBI :
SBI Hong Kong confirms it has no exposure in PNB fraud case.

🎯 HDFC :
QIP closes today. It has issued 1.03 crore equity shares at Rs.1,825 per share.

🎯 Ramco Cements to acquire clinker grinding unit from Ramco Industries for Rs.17 crore.

🎯 Jaypee Infra :
IndusInd Bank invoked 4.3 % Jaypee Infra stake pledged by Jaiprakash Associates.

🎯 Global Offshore :
Company defaults on unsecured demand loan from Axis Bank. The principal amount of Rs.11.26 crore plus interest is outstanding.

🎯 Somany Ceramics :
Board approved plan to merge three units of promoter group with itself.

🎯 Arman Financial :
Company to raise Rs.50 crore through issue of 16.66 lakh compulsory convertible debentures at Rs. 300 each to Saif Partners India.

🎯 JSW Energy :
Company acquires JSW Electric Vehicles.

🎯 Wanbury :
Company says U.S. FDA completes inspection of API facility with five observations.

🎯 JSW Steel :
JSW Steel Signs MoU To Acquire Italy’s Second Largest Steelmaker Aferpi.

🎯 Bank of Baroda :
Bank keeps 1-Year MCLR unchanged at 8.30% from March 7.

🎯 RCom :
Arbitration court bars RCom from selling assets.

🎯 Reliance Infra :
Company claims Rs.5,440 cr from Pipavav Def Founders.

🎯 HDFC Bank :
HDFC Bank hikes bulk deposits rates upto 175bps.

🎯 Arvind :
Company plans apparel parks, textile unit in AP.

Edited by Sharp.
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