27th April, Morning Brief

Market will start on a positive note as SGX Nifty is trading up by 41 points.

Short covering in the last hour pulled the Nifty50 above 10600 and made a bullish candle on the daily chart.

US stocks advanced on Thursday with major indices ending the session up 1 % or higher, boosted by solid earnings results and a rebound in technology stocks as US bond yields pulled back. Dow was up 238 points whereas Nasdaq and S&P500 were up by 2% and 1% respectively.

Nifty50 will breach it's crucial resistance of 10640 at the opening itself but it should hold the steam for the whole session to make the move towards 10720.

🎯 News & Impact 🎯

🎯 Major Results Today :
Reliance, Maruti Suzuki, Bandhan Bank, Equitas Holdings, IDFC, RBL Bank, Shriram Transport Finance.

🎯 Relcapital :
Company's Q4 net profit up 36 % at Rs.428 crore.
Positive for the stock. 👍

🎯 Axis Bank :
Q4 loss at Rs.2,189 crore on three-fold jump in provisions; asset quality worsens.
Negative for the stock. 👎

🎯 Biocon :
Q4 net profit up 2% at Rs.130 cr; FY18 net dips 39%.

🎯 Aditya Birla Money :
Q4 YoY Revenue up 28 % at Rs.43.5 crore.Net profit up 7 % at Rs 4 crore.

🎯 SBI Life :
Q4 net profit up 13 % to Rs.381.2 crore.

🎯 AU Bank :
Q4 net up 7 % at Rs 83 crore.

🎯 Tata Metaliks :
Q4 net profit up 41% at Rs 54 Cr.

🎯 Rallis :
India posts 37% dip in Q4 net profit at Rs. 19 Cr.

🎯 Shriram City Union Fin Q4 net profit up 19% at Rs.687 Cr.

🎯 Jindal Stainless :
Jindal Stainless Hisar Q4 net profit jumps 59% to Rs.96 Cr.

🎯 Essel Propack :
Company recommends bonus issue in the ratio of 1 equity share for every 1 share.
Positive for the stock. 👍

🎯 L&T Finance :
Company hikes prime lending rate by 15 bps.

🎯 Biocon :
Company has proposed a final dividend of Re 1 per equity share.

🎯 Cyient :
Acquires Belgium-based AnSem N V for USD 17 million.

🎯 Infosys :
Infosys announces new training center in Indianapolis to create 1K additional jobs.

🎯 MOIL :
Company signed MoU with Ministry of Steel for FY19.

🎯 Mangalore Chemicals :
Mangalore Chemicals and Fertilisers shuts down ammonia, urea and ABC Plants for annual turnaround maintenance.

🎯 Thermax :
Company gets repeat order of Rs.279 cr to set up captive cogeneration plant at Trombay.

🎯 S H Kelkar :
Sebi decides against granting exemption to S H Kelkar and Co promoters.

🎯 TCS :
TCS expands operations in Texas.

🎯 ITC :
ITC ties up with NITI to train 2 lakh farmers to increase income.

🎯 Tata Steel :
Tata Steel's proposed acquisition of Bhushan Steel gets CCI nod.

🎯 Lodha :
Company files IPO papers with Sebi; looks to raise Rs.5,500 Cr.

🎯 Cholamandalam :
ICRA upgraded its rating on term loan, NCD to ICRA AA+ and reaffirmed A1+ rating on commercial paper.

🎯 Capital First's :
Committee approved to issue NCDs worth Rs.340 crore on private placement basis.

🎯 Coffee Day Enterprises :
Marina West (Singapore) Pte sold 12,66,496 shares of Coffee Day at Rs. 332.05

🎯 Karnataka Bank :
Copthall Mauritius Investment sold 19,26,600 shares of Karnataka Bank at Rs.116.72.

🎯 Reliance Naval :
ECAP Equities sold 50,12,931 shares of Reliance Naval at Rs 19.52

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers