30th April, Morning Brief

Market will open on a positive note as an opening indicator SGX Nifty is trading up by 39 points.

Nifty has given a breakout in the opening trade and achieved its immediate target of 10720 at closing time on Friday. Nifty failed to hold above 10700 but made a bullish candle on the daily chart.

Nifty can be considered to hop towards its new high or the 11300 mark in coming days as it has given a breakout above it's double top formation which was made at around 10638 levels.

The Federal Open Market Committee begins a two-day meeting on Tuesday. Fed policy makers will probably keep their target rate for overnight bank lending in a range of 1.5 % to 1.75 %.

🎯 News & Impact 🎯

Major Results Today :

HDFC, Kotak Mahindra Bank.

Results Update :

🎯 Reliance :
Revenue up 15 % at Rs.84,037 crore.
Net profit up 3 % at Rs.8,697 crore.

🎯 CanFin Homes :
Revenue from operations up 10.7 % at Rs. 399 crore.
Net profit up 6.5 % to Rs.75.5 crore.

🎯 Idea :
Idea Cellular Q2 net loss at Rs.962.2 crore and revenue at Rs. 6,137.3 crore.

🎯 RBL Bank :
RBL Bank net Profit at Rs.178.12 crore against Rs.130.13 crore, YoY.

🎯 Equitas Holdings :
Q4 net profit at Rs. 34.88 crore versus Rs. 6.9 cr, YoY.

🎯 IDFC :
Q4 net profit at Rs.1.56 crore versus Rs 134.8 crore, YoY

🎯 Shoppers Stop :
Q4 net profit at Rs 20.78 crore against loss of Rs 36 crore, YoY.

🎯 Axis Bank :
Approves increase in borrowing limit upto Rs 2 lakh
crore.
Approves Scheme of Amalgamation of Accelyst Solutions & Freecharge Payments Technologies.

🎯 Dilip Buildcon :
Company executed concession agreement with NHAI.

🎯 Jagran Prakashan :
Company approves buyback of upto Rs. 292.5 crore at Rs.195 per share.

🎯 Greenply Industries :
Company commenced commercial production of Decorative Plywood / Decorative Veneers at Gujarat unit.

🎯 Meghmani Organics :
Company's subsidiary gave successfully exit to International Finance Corporation (IFC) by acquiring 24.97% equity stake of IFC in Meghmani Finechem.

🎯 IOC :
Company approves implementation of 357 KTA Ethylene Glycol Project alongwith associated facilities at Paradip plant with an estimated cost of Rs.4,221 crore.

🎯 Allahabad Bank :
Bank revises Marginal Cost of Funds Based Lending Rate (MCLR) with effect from 01.05.2018.

🎯 Adani Ports :
Board meeting on on May 3, 2018 to consider funds raising issue of equity shares / convertible bonds.

🎯 Shalimar Paints :
Company allotts 35.52 lakh shares at Rs. 140 per share on right basis

🎯 Wockhardt :
Company to consider fund raising on May 4.

🎯 Cochin Shipyard :
Company commences block erection for two passenger vessels for Andaman & Nicobar Administration.

🎯 Shree Cements :
Company recommended final dividend at Rs.30 per equity share.

🎯 Crest Ventures :
Company to consider fund raising by way of preferential issue of equity share on May 04.

🎯 India Grid :
CRISIL put AAA/Stable rating on long term facility of Rs1000 crore of India Grid.

Edited by Sharp.
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