7th May, Morning Brief

Market will open on a positive note as SGX Nifty is trading up by 21 points.

Nifty opened and immediately bears took control and pushed it down to close near day's low, left Nifty to make a bearish candle called Bearish Belt Hold on the daily chart.

A weaker than expected wage growth pushed the US indices to close higher.

🎯 News & Impact 🎯

Major Results Today :
ICICI Bank, Vijaya Bank

🎯 Avenue Supermarts :
Q4FY18 standalone net profit rises 72.86 % YoY to Rs.167.10 crore.
Positive for the stock. 👍

🎯 Nalco, Hindalco, Vedanta
Base metal price on LME like Aluminium PRICE surged 5% on LME.
Positive for Nalco, Hindalco and Vedanta. 👍

🎯 MCX :
SEBI allows MCX to start options trading in crude oil.
Positive for the stock. 👍

🎯 Welspun Corp :
Company received orders along with demand from the Joint Commissioner (Appeal) - GVAT, Rajkot for an amount of Rs.178.79 crores.

🎯 Wockhardt :
Loss at Rs.154 crore versus loss of Rs. 174 crore.
Revenue up 17.6 % at Rs 1,018 crore versus Rs.865.5 crore (YoY).

🎯 Thomas Cook :
CRISIL revised its outlook of the credit rating assigned to long-term instruments of the company amounting to Rs.200 crore.

🎯 L&T :
Subsidiary company, L&T Infrastructure Development Projects (L&TIDPL) transferred its stake in five subsidiary companies to Indinfravit Trust through the infrastructure investment trust (InvIT) route on May 4, 2018.

🎯 GE Shipping :
Company approved issue of NCDs upto Rs.1000 crore by way of private placement and recommended final dividend of Rs. 7.20 per share for 2017-18.

🎯 KOEL :
Company incorporats a wholly owned subsidiary, Kirloskar Capital, for commencement of financial service business.

🎯 Bank of Baroda :
Keeps marginal cost of funds based lending rate (MCLR) at existing level across the tenors.

🎯 Cadila Healthcare :
Zydus receives final approval for Succinylcholine Chloride injection USP and tentative approval for Plerixafor injection from the USFDA.

🎯 Lancer Container Lines :
Company purchased 100 brand new 20 feet shipping container.

🎯 Smartlink Holdings :
Board of directors has approved the buyback of 56 lakh equity shares of Rs.2 at a price of Rs. 120 per share under tender offer route.

🎯 Bodal Chemicals :
Company had started the process for acquisition of land aggregating to about 4.82 lakh square metres from the Gujarat Industrial Development Corporation (GIDC) authority, Ankleshwar for future expansion and new projects.

🎯 PNC Infratech :
CARE has assigned credit rating on the long term bank facilities of subsidiary, PNC Khajuraho Highways Private Limited to A-; stable.

🎯 Pankaj Polymers :
Board of directors approved sale of assets of the company located at Nagpur Unit.

🎯 Manomay Tex India :
Commercial production at Denim Plant situated at Gangrar (Raj) successfully commenced.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers