18 April, Morning Brief

Market may open on a positive note as an opening indicator, SGX Nifty is trading up by 30 points backed by global cues.

Yesterday, Nifty rallied for the ninth consecutive session in a row but failed to close above 10,550. It formed a ‘hanging man’ kind of pattern which suggests exhaustion of momentum or caution.

US indices rallied on Tuesday on broad-based gains.

🎯 News & Impact 🎯

Major Results Today :
ACC, HDFC Life.

🎯 Lupin :
Company receives tentative US FDA approval for generic AndroGel.
Positive for the stock. 👍

🎯 Virinchi :
Company signs multi-product 5-year contract with Advance America Inc for its flagship management software QFund.
Positive for the stock. 👍

🎯 Astra Zeneca :
Company to invest USD 90 million over the next five years in India.

🎯 Fortis :
China’s Fosun enters race to buy Fortis Healthcare.

🎯 Cadila :
Company has divested its entire shareholding in Bremer Pharma GmbH, wholly owned subsidiary of company.

🎯 Idea :
Aditya Birla Group in talks to raise USD 1 billion for Idea Cellular.

🎯 Ashiana Housing :
CARE reaffirmed the issuer rating at A.

🎯 Tata Steel :
Company raises $1.9 billion in loans as it looks to refinance high-cost debt of its Singapore unit; fresh loans priced at 200 basis points above LIBOR (Economic Times).

🎯 Vedanta :
Company's resolution plan for Electrosteel Steels approved by NCLT.

🎯 Indian Hume Pipe :
It has bagged order of Rs.108.19 crore from Narmada Water Resources, Water Supply & Kalpsar Dept, Gujarat.

🎯 Future Retail :
Company allotted Rs.300 crore of NCD on private placement basis.

🎯 Indian Hotels :
Company enters Saudi with first Taj hotel in Makkah.

🎯 NHPC :
Company's 50 MW solar project synced with grid.

🎯 Hindustan Zinc :
Company plans to produce 1000 tonnes of silver in next 3-4 years.

🎯 United Spirits :
Company moves HC alleging that government outlets in Chattisgarh are not buying their products and are trying to drive them out.

🎯 Filatex India :
Board meeting on May 7 to consider stock split and Q4 results.

🎯 HAL :
Company enhanced jet production capacity.

🎯 Blue Star :
Company launched 100 products during summers and target to have Rs.1,700 crore revenue from ACs.

🎯 Future Consumer :
Company increased stake to 99.93% in Integrated Food Park, company's subsidiary, acquired the stake from Capital Foods Pvt Ltd.

🎯 Jagran Prakashan :
Company to consider share buyback on April 27.

Edited by Sharp.
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