14th May, 2018 Morning Brief

A flat opening expected as SGX Nifty is trading up by just 2 points in the morning today.

On Friday, Nifty50 surpassed its resistance of 10790 in the last hour  and closed above the level to claim the bullishness. It has formed a bullish candle on the daily chart.

Karnataka election results may keep market volatile tomorrow but market participants will prefer to stay cautious today.

🎯 News & Impact 🎯

Major Results Today :
HUL, South bank, Godrej Agrovet, Abbott India.

🎯 Inflation data to be released today at 12 noon.

Media news that Monsoon likely to hit Kerala before schedule. It will be positive for the market. IMD indicate that the monsoon may reach southern Indian state of Kerala by around May 25 - Expect positive for FMCG, NBFC and Auto stocks.

🎯 New India Assurance :
New India Assurance approves 1:1 bonus issue.
Positive for the stock. 👍

🎯 Godrej Agrovet :
Company increases its total shareholding from 49% to 49.90% in Godrej Tyson Foods.
Positive for the stock. 👍

🎯 Federal Bank :
Federal Bank to sell 26 % in unit FedFina to True North Enterprises.
Also, receives RBI approval to acquire 19.90 percent in Equirus Capital.

🎯 Suntv :
Revenue up 23 % at Rs.717 crore.
Net profit up 23 % at Rs.290 crore.

🎯 Graphite India :
Revenue up 3 times at Rs.1212 crore.
Net profit up 7 times at Rs. 454 crore.

🎯 Canara Bank :
NII grew 10.3 % to Rs.2,987 crore.
Net loss of Rs.4,860 crore versus profit of Rs. 214 crore.
Provisions at Rs.8,762 crore versus Rs. 1,900 crore (QoQ).
Net NPA at 7.48 % versus 6.78 % (QoQ).

🎯 Albk :
NII down 35 % at Rs.888.5 crore.
Net loss of Rs.3510 crore versus Net profit of Rs.111 crore.
Provisions up 98 % at Rs.4,783 crore (QoQ).
NPA at 8.04 % versus 8.97 % (QoQ).

🎯 UCO Bank :
NII up 33 % at  Rs. 808 crore.
Net loss of Rs.2,134 crore versus Net loss of Rs. 588 crore.
Provisions up 62 % at Rs.2,239 crore (QoQ).
NPA at 13.10 % versus 10.90 %.

🎯 OBC :
NII down 16 % at Rs.1,095 crore.
Net loss at Rs.1,650 crore versus net loss of Rs.1,218 crore.
NNP at 10.5 % versus 8.9 %.

🎯 Nilkamal :
Nilkamal plastics to enter foam manufacturing business this financial year.

🎯 Dena Bank :
RBI bars Dena Bank from further lending.
Negative for the stock.

🎯 Ashoka Buildcon :
executed a concession agreement with NHAI

🎯 Sical :
Company approves buying L&T Infra’s stake in ore terminal unit.

🎯 Aarti Industries :
Board approves demerger of home and personal care segment and merger of manufacturing operations of Nascent Chemicals with the company.

🎯 Westlife Development :
To add 25 stores in FY19.

🎯 JK Paint :
Company to raise fund by issue of secured/redeemable NCDs for an amount upto Rs 500 crore during 2018-19.

🎯 Ahluwalia Contracts :
Company secures new orders aggregating to Rs.389.81 crore.

🎯 Ajmera Realty :
Company to invest Rs.5,700 cr in 14 projects this year.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers