1st June, Morning Brief

A flat positive opening expected as SGX Nifty is trading up by 15 points.

Short covering pulled the Nifty to claim 10700 mark yesterday. Difference between May and June month Nifty futures were the proof of it as the discount widened to almost 40 points. This registered a strong bullish candle on the daily chart. Nifty50 is just short to its immediate resistance of 10790. Once if it will clears the door for 10930 will be opened.

US markets fell on Thursday after the United States moved to impose tariffs on metal imports from Canada, Mexico and the European Union. US likely to impose tariffs of 25% on steel and 10% on aluminum on Canada, Mexico and European countries.

🎯 News & Impact 🎯

The Indian economy grew 7.7 % in Q4, the fastest in nearly two years, signaling quick turnaround aided by rapid construction activity, consumer spending and corporate investment.

🎯 Infosys :
Infosys extends alliance with Microsoft for cloud-based digital transformation solutions.

🎯 Idea Cellular :
Company completes sale of 9,900 standalone towers to ATC for Rs.4,000 crore.

🎯 NCC :
The firm has bagged a package of 3 Mumbai-Nagpur expressway contracts

🎯 Granules India :
Company receives establishment inspection report (EIR) from USFDA for its Gagillapur facility.

🎯 Cochin Shipyard :
Company signs agreement with Government of Kerala for procurement of marine ambulance for fisheries department.

🎯 Maruti :
Maruti Suzuki targets to sell over two lakh automatic cars in 2018-19.

🎯 Bayer's Crop Science :
Company to invest Rs.400 crore in Monsanto India.

🎯 Fortis Healthcare :
Company says unit sold off 1.8 crore units of RHT Health Trust for 13.65 million Singapore dollars.

🎯 PNC Infratech :
Company declared L1 for Nagpur-Mumbai Expressway project worth Rs.2,099.52 crore.

🎯 Bodal Chemicals :
Company to acquire additional 17 % stake in Trion chemicals for Rs.3 crore.

🎯 Cholamandalam Investment and Finance :
Company to invest Rs.50 crore in its subsidiary Cholamandalam Home Finance.

🎯 Ashiana Housing :
Company has acquired 6.67 acres land in Rajasthan to develop a group housing project with 6.15 lakh square feet area.

Edited by Sharp.
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