3rd May, Morning Brief

Market may open on a negative note as SGX Nifty is trading down by 43 points.

Yesterday, Nifty opened with a gap but failed to hold the momentum and closed near Day's low. Nifty formed a bearish belt hold kind of pattern on the daily chart which have no upper leg or no upper leg as well as lower leg with a large bearish body.

US Federal Reserve kept unchanged interest rates but signaling to hike interest rates in the next policy meeting ahead of increasing inflation. 

US stocks fell on Wednesday as potential US restrictions on Chinese telecom companies reinforced investor concerns about worsening trade relations between the United States and China.

🎯 News & Impact 🎯

🎯 Major Results Today :
Adani Port, Adani Power, IRB Infra, Vedanta.

🎯 Siemens :
Q2 net profit up 18.2% at Rs.219.7 crore, revenue up 7.6% at Rs. 3,283.4 crore.

🎯 Tata Power :
Revenue up 13  at Rs.7,895 crore.Net profit of Rs 1,404 crore versus net loss of Rs 242 crore.

🎯 Cadila Healthcare :
Zydus received final approval from US FDA for Bumetanide tablets.
Positive for the stock. 👍

🎯 HPCL, BPCL, IOC :
Crude Oil declined to below 73 dollars after touching a recent high of 77 dollars per barrel. Falling oil price will be positive for HPCL, BPCL, IOC. 👍

🎯 Biocon :
US FDA completed pre-approval inspection of Sterile drug manufacturing facility, Bangalore this week.
USFDA issues Form 483 with 7 observations.
Cautious over the stock.

🎯 Power Grid :
Company approves Rs. 461 crore of investment proposals.

🎯 Kridhan Infra :
Company's subsidiary Swee Hong wins order worth Rs.566 million

🎯 Sical Logistics :
Company received letter of acceptance from Northern Coalfields for excavation of overburden from Amlohri OCP.

🎯 ONGC :
Company drills 503 wells in FY18 - Highest in last 27 years.

🎯 Axis Bank :
The lender allotted 52,840 shares of Rs 2 each under the ESOP scheme.

🎯 Interglobe Aviation :
Q4 profit down 73% YoY on fuel price increase, foreign exchange impact.

🎯 United Drilling :
Company fixed May 10, 2018 as record date for bonus issue.

🎯 Lemon Tree Hotels :
Company opens new hotel in Srinagar.

🎯 Infosys :
Infosys partners Astound for automated services, support for enterprises.

🎯 Ganesha Ecosphere :
Board authorized opening of QIP at floor price of Rs.396.13 per share.

🎯 Techno Electric :
Company entered into share purchase agreement to acquire 26% stake in Kohima – Mariani Transmission from Kalpataru Power.

🎯 Emami Paper :
Board approved greenfield expansion project at Bharuch.

🎯 Thomas Cook :
ICRA assigned ICRA AA rating to Thomas Cook Rs.100 crore NCD

Edited by Sharp.
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