2nd May, Morning Brief

Market may open on a flat note today as SGX Nifty is trading on a lower side by 14 points.

As we have seen, once Nifty crossed 10640 level, it has completed it's immediate target of 10720 and closed above it. Now it has also completed the gap between 10,736 – 10,702 levels registered on 5th February. It has plotted a bullish candle on the daily chart on Friday. This momentum may continue to complete it's next target of 10920 which doesn't mean any corrections on profit bookings is ruled out.

🎯 News & Impact 🎯

🎯 Major Results Today :
Heromotocorp, HCL Tech, Siemens, Tata Power, InterGlobe Aviation, Century Textiles, Ajanta Pharma.

🎯 Results Updates :

Hindustan Zinc :
Revenue flat at Rs.6,277 crore.
Net profit down 18 percent at Rs.2,505 crore.

Dabur :
Revenue up 6 % at Rs. 2033 crore.
Net profit up 19 % at Rs397 crore.

🎯 Auto Sales April :
*Maruti Suzuki sales rose 14.4 % to 1.72 lakh units.
*Tata Motors sales grew 86 % to 53,511 units.
*Mahindra & Mahindra sales were 22 % higher at 48,097 units.
*Eicher Motors sales jumped 27 % at 76,187 units.
*TVS Motor Company sales grew 24 % to 3.04 lakh units.
*Escorts sales rose 26.3 % at 6,186 units.

🎯 Cipla :
Company receives final approval for Phenylephrine Hydrochloride Injection.
Positive for the stock. 👍

🎯 BHEL :
Company gets hydro power project in Nepal worth Rs.536 crore.
Positive for the stock. 👍

🎯 Fortis Healthcare :
Received a letter from Munjal's Office and Burman's Office with a proposal to invest in the company.
Received revised offer from IHH Healthcare Berhad with a proposal to invest in the company.
Positive for the stock. 👍

🎯 Larsen & Toubro
L&T will sell electrical & automation biz to Schneider Electric for Rs.14K Cr.

🎯 Grasim :
Company expands capacity of Caustic Soda Lye from 600 TPD to 1000 TPD at Vilayat, Gujarat has been 50% commissioned.

🎯 Mukand :
Company's subsidiary acquired balance 81.3% equity shares in Adore Traders & Realtors.

🎯 NDTV :
NDTV approved transfer of upto 7.38% stake of the company in Red Pixels Ventures to A R Chadha And Co (India), the landlord of New Delhi office.

🎯 Powergrid :
Company declared commercial operation of elements pertaining to Powergrid Parli Transmission.

🎯 GAIL :
Company signs loan agreement for Rs. 2,000 crore term loan with SBI for general capital expenditure.

🎯 Bharti Airtel :
Company to expand in MP, Chattisgarh.

🎯  VRL Logistics :
ICRA upgraded the long term rating to ICRA A.

🎯 Godrej Properties :
Board meeting on May 4 to consider capital raising by way of preferential allotment

🎯 Lakshmi Vilas Bank :
Bank sets one-year MCLR at 9.45 % from May 1.

🎯 Mastek :
Company wins contract for U.K. Home Office Biometrics.

🎯 Maithan Alloys :
Company to set up 1.2 lakh tonne per annum ferro alloy plant in West Bengal.

🎯 MOIL :
Company says Ferro grade & fines prices have been reduced by 15 % in Q1. 5 % discount on 4 specific grade and prices of chemical grades of ore decreased by 7.5 percent.

🎯 Jaypee Infra :
Sudhir Valia to infuse Rs.3,510 crore into Jaypee Infra projects in Noida.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers