10th May, Morning Brief

A flat opening expected as SGX Nifty is trading up by just 3 points in the morning.

A narrow range has been found in yesterday's trading though Nifty50 has made a bullish candle on the daily chart.

Today it's interesting to see whether Nifty crosses 10790 mark or not.

US market indices rose decently as energy stocks gained after a spike in crude oil prices made Asian markets to trade on a positive note.

🎯 News & Impact 🎯

Major Results Today :
Asia Paints, Titan, Adani Enterprises, Zee, Indian bank, Nestle

IPO Updates :
Indostar Capital Finance IPO subscribed 41% on Day 1

Results Update :

🎯 JSPL :
Revenue up 37 % at Rs.8599 crore.
Net loss of Rs. 308 crore from net loss of Rs. 49.5 crore.

🎯 Eicher Motors :
Revenue up 33.9 % at Rs.2528 crore.
Net Profit up 0.5 % at Rs.461.5 crore.

🎯 Sharda Cropchem :
Revenue up 29 % at Rs. 769 crore.
Net Profit up 14.5 % at Rs.113 crore.

🎯 Federal Bank :
Net Interest Income up 11 % at Rs. 933 crore.
Net profit down 44 % at Rs.145 crore.

🎯 Hikal Ltd :
Board approves 1:2 bonus issue.
Positive for the stock. 👍

🎯 Avanti Feeds :
Board approves 1:2 bonus issue.
Positive for the stock. 👍

🎯 Welspun Enterprises :
Company emerges as L1 for road project in Tamil Nadu at Bid price of Rs.1,837 crore.

🎯 Cipla :
Company partners with Mannkind for exclusive marketing, distribution of Afrezza in India.

🎯 PNC :
PNC Infratech gets Rs 33.7 crore bonus annuity from Raebareli unit.

🎯 Star cement :
Company receives Rs.200 crore towards subsidies claim.

🎯 Tata Metaliks :
Company says main production unit including Blast furnace expected to be back on stream by May 17.

🎯 Sintex Plastics :
KKR Infuses Rs 1250 crore in Sintex Plastics Technology Subsidiary, SBAPL via structured finance.

🎯 Va Tech Wabag :
Company secures repeat order worth Rs. 296 crore from Delhi Jal Board.

🎯 Jet Airways :
The Ministry of Civil Aviation has not approved the Scheme of Merger of Jet Lite (India) with Jet Airways.

🎯 Nestle :
Nestlé India to launch breakfast cereals in India

🎯 Tata Metalics :
Some parts of operational activities at Kharagpur plant will get impacted due to planned shutdown of one of Blast Furnaces - report.

Edited by Sharp.
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