Sharp Finvest: 8th May, Morning Brief

A positive opening expected in the market as the opening indicator SGX Nifty is trading up by 22 points this morning.

Asian as well as US markets were positive to support the positive opening.

A bullish piercing pattern was plotted on the daily chart by Nifty50 yesterday.

🎯 News & Impact 🎯

Major Results Today :
Abb, Aditya Birla Capital, Godrej Consumer Products, Jubilant Foodworks, SPARC

Results Update :

🎯 ICICI Bank :
Net profit down 50 % at Rs.1,020 crore. Provision up 86 % at Rs.6,626 crore (QoQ).
NPA at 4.77 % vs 4.20 % (QoQ).

🎯 Tata Coffee :
Net Profit down 86 % at Rs.6.5 crore. Revenue up 9 % to Rs.440 crore.

🎯 Pfizer :
Revenue up 19 % at Rs.520 crore.
Net profit up 42.5 % at Rs.152.5 crore.

🎯 Lupin :
Lupin Pharma receives U.S. FDA approval for generic Temovate ointment.
Positive for the stock. 👍

🎯 Unichem Lab :
Unichem Laboratories Ltd. receives ANDA approval from U.S. FDA for Valsartan Tablets.
Positive for the stock. 👍

🎯 HDFC :
SEBI holds HDFC Mutual Fund IPO to probe past lapses.

🎯 Veto Switchgears :
Company receives order worth Rs.25 crore for “Vyoma” range of Modular switches.

🎯 Tata Metaliks :
Company says operations at Kharagpur plant stopped due to issue with workers’ union.

🎯 Cigniti Technologies :
Company looks to explore business opportunities in Dubai.

🎯 Talwalkars :
Company gets in-principle nod from exchanges to list Talwalkars Lifestyles.

🎯 Siemens :
FIH Mauritius to buy 6 percent additional stake in Bangalore Airport from Siemens.

🎯 Allahabad Bank :
Bank to consider fund raising via FPO/Rights Issue/QIP on May 11.

🎯 IL&FS :
Company raise USD 55 m in rupee loan from Mashreq Bank

Sharp Finvest