13th April, Morning Brief

Market may open on a flat note as SGX Nifty is trading down by 2 points.

Yesterday, Nifty 50 gave the breakout above the braced level of 10450 and closed at 10458.65.

Though Nifty closed above its resistance, market participants lack conviction at higher levels as market breadth remained negative for the second day in a row with more scrips registering a close in negative terrain.

The CPI for the month of March fell to 5 months low at 4.28% against 4.44% in the previous month. IIP stayed above 7% during the month of Feb which hints that the economy is back on track.

US stocks climbed on Thursday as investors anticipated a strong earnings season. Asian shares traded higher early morning.

🎯 News & Impact 🎯

Major Results Today :
Infosys.

🎯 Fortis :
Company received unsolicited binding offer from Hero Enterprises and Burman Family to invest Rs.1,250 crore through preferential allotment. 

🎯 Texmaco Rail :
Company opened subsidiary in South Africa to grow exports and EPC business in the African region.

🎯 HCL Tech :
HCL Technologies, Sumeru Equity partner to acquire Actian Corp in an all cash deal worth $330 million.

🎯 Adani Group :
The company has entered into multiple tie-ups to further defence business

🎯 Tata Steel :
Thyssenkrupp, Tata Steel delay signing of joint venture deal.

🎯 NBCC :
The company has secured total business of Rs.770 crore for March 2018.

🎯 HAL M&M :
Boeing partners with HAL & Mahindra to manufacture F/A-18 Super Hornet in India.

🎯 Gail :
The firm will receive LNG cargo from Gazprom in May.

🎯 IL&FS Transport :
The firm is raising USD 1 billion infrastructure fund under its PE business, Mint reported.

Edited by Sharp.
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