10th April, Morning Brief

Market may open on a positive note as opening indicator SGX Nifty is trading up by 32 points backed by global cues in the morning today.

Asian markets gained sharply. China, Nikkei and Hong Kong Index gained 1% each. US Future surged over 1%. 

A bullish momentum continued yesterday also after a positive crossover plotted on daily charts on Thursday. 10450 will be the next hurdle and now 10350 will be the immediate support.

🎯 News & Impact 🎯

🎯 PSU Banking stocks :
Fall in bond yield will be positive for PSU Banks.  👍

🎯 Tractor & Fertilizer stocks :
Hope of normal monsoon will be positive for tractor stocks. 👍

🎯 HDFC :
HDFC hiked home loan rate for the first time since 2014 by 20 bps.
Positive for the stock. 👍

🎯 BPCL is planning to hive off its gas business into a separate wholly-owned subsidiary.
Positive for the stock. 👍

🎯 Alembic Pharma :
Company received US FDA approval for Acyclovur Ointment.
Also, company to buyback 1,02,50,000 equity shares at Rs 80 per share
Positive for the stock. 👍

🎯 Wipro :
Telecom client in India filed petition to initiate CIRP with NCLT. Company likely to see negative impact of 65-75 bps on net income level.
Negative for the stock.

🎯 Healthcare Global Enterprises :
Company approved the allotment of 9,34,500 equity shares at Rs 321 per share on Preferential basis to promoter of the company.

🎯 Super Crop Safe :
Board meeting on April 17 to consider issue of equity shares and convertible warrants on preferential allotment basis.

🎯 Neuland Lab :
Company approved issuance of up to 16,75,000 equity shares through qualified institutional placement.

🎯 IOB :
Company revised the MCLR with effect from 10.04.2018.
Bank signs MoU with SMC Global Securities

🎯 Gravita :
Company starts commercial production of PPCP Granules from its Chittoor plant.

🎯 Raymond :
Raymond and Patanjali looking at a tie-up.

🎯 Max Financial Services :
Company approves fund raising proposals.

🎯 Waterbase :
CARE rating revised company's long term bank facilities rating to CARE A- Stable and short term bank facilities rating to CARE A2.

🎯 Simplex Infra :
Board meeting on April 14 to consider issue of warrants on preferential basis.

🎯 Unitech :
It has submitted a List Of Assets As Directed By SC.

🎯 Spicejet :
The airline said that it is not considering partnership with foreign airline to bid for Air India.

🎯 ICICI Bank :
Merrill Lynch buys 2.94 crore shares worth Rs.823 Cr.

🎯 Generic Engineering :
Company allotted 10,89,431 equity shares to the investors and and 17,00,000 warrants to the promoters.

🎯 Ashok Leyland :
Company to invest Rs.400cr in LCV push.

🎯 Syndicate Bank :
Bank keeps MCLR unchanged across all tenors.

🎯 IDFC Bank :
The lender has cut MCLR across all tenors by 5bps effective April 8.

🎯 Indian Bank :
Bank has raised MCLR Across All Tenors By 10-15 bps. 

Edited by Sharp.
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