16th July Morning Brief

Flat opening expected as SGX Nifty is trading down by 5 points today morning.

The Nifty50 formed a bearish candle on the daily charts as it started on a positive note following positive global cues but immediately wiped out those gains and closed in the red marginally.

US stocks rose slightly on Friday, putting the S&P 500 at its highest closing in more than five months. Dow Jones Industrial Average was up by 94.52 points whereas Nasdaq added 2.06 points.

Asian markets trading weak. Nikkei closed today on account of Marine Day holiday.

Wholesale price inflation for June 2018 to be announced today.

The trade deficit in June 2018 is the highest since November 2014 when the gap was USD 16.86 billion. The deficit in June 2017 stood at USD 12.96 billion.

🎯 News & Impact 🎯

Major Results Today : HUL

🎯 Infosys :
Infosys announced 1:1 bonus issue.
Profit in Q1 fell 2.1 % to Rs.3,612 crore versus Rs. 3,690 crore.
Guidance for FY19 constant currency growth maintained at 6-8 percent and operating margin at 22-24 percent.
Positive for the stock. 👍

🎯 City Union Bank :
The bank allotted bonus shares in ratio 1:10.

🎯 Dr Reddy :
Indivior won preliminary injuction against generic rival Dr. Reddy’s for Suboxone.

🎯 PC Jewellers :
Company withdrew buyback offer as it does not get NOC from bankers.

🎯 Tata Motors :
Moody’s downgraded credit rating of Tata Motors by one notch due to weaker consolidated credit matrix.

🎯 Mahanagar Gas :
Company installed its first CNG station in Uran.

🎯 Just Dial :
Company to consider buyback of equity shares on July 20.

🎯 WABCO :
Company signed first power steering system export deal in India to supply Tata Motors.

🎯 Vedanta :
Company identified as “H1 Qualified Interested Bidder” for GMR Chhattisgarh Energy Ltd by consortium of lenders.
-Sterlite plant closure to hit 2-3 percent profit of Vedanta group.

🎯 Cochin Shipyard :
Company won shipbuilding contract from Inland water Authority of India worth Rs. 102.6 crore.

🎯 HMT :
Company transferred remaining seven acres of land at Tumkur to ISRO.

🎯 Kesoram Industries :
Kesoram may demerge ailing tyre business.

🎯 Aurobindo Pharma :
Company to acquire Apotex International Inc.’s commercial operations in five European countries for € 74 million.

🎯 Minda Industries :
Board has approved acquisition of 80 percent of equity capital of iSYS RTS GmbH based in Germany.

🎯 Nucleus Software :
Company acquires remaining 4 percent stake in Avon Mobility Solutions, taking total stake to 100 %.

🎯  Dalmia Bharat :
Company eyes acquisition as Binani Cement fate hangs in balance (Business Standard).

🎯 Jindal Steel & Power :
Company has settled dispute with Zee Media. Both the parties have withdrawn the allegations against each other.

🎯 V2 Retail :
Company opens 66th retail store at Uttarakhand.

🎯 Seamec :
Subsidiary Seamec International FZE purchased a bulk carrier 'TENTO' renamed as 'GOOD HOPE'.

🎯 HDFC Group :
HDFC MF received SEBI go ahead for IPO.

🎯 IRCON gets SEBI nod for IPO, issue likely in Sept.

Edited by Sharp.
© Sharp Investment & Financial Advisers

4th July, Morning Brief

Market may open on a flat to negative note as SGX Nifty is trading down by 29 points.

Nifty gained yesterday after a small correction but closed just short of 10700 mark.

Nifty has formed a bullish candle on the daily chart.

US market ended negatively as tech stocks slid. Today US markets will remain closed because of their independence holiday.

On Friday, the U.S. is scheduled to impose tariffs on $34 billion of Chinese goods. Beijing has said it will slap tariffs on an equal value on U.S. exports including agricultural and auto exports. This may keep world markets on a cautious note.

Asian major indices are trading on lower side in the morning trades.

🎯 News & Impact 🎯

🎯 M&M Financial Services :
IFC invested $100 million in M&M Financial Services.

🎯 GE Power :
GE Power India received order worth Rs.468 crore from BHEL.

🎯 Ashoka Buildcon :
The firm received Rs.22.4 crore in a settlement agreement with NHAI.

🎯 Motilal Oswal :
ICRA Downgrades Aspire Housing to A+ From AA-. It is the housing finance arm of Motilal Oswal.

🎯 ISGEC Heavy Engineering :
Company emerged as lowest bidder for Rs.700 crore thermal power project.

🎯 VST Tillers :
June total sales down 24 % to 3,819 units versus 5,053 units.

🎯 Sadbhav Infra :
Company achieved financial closure for Rajasthan project.

🎯 Kwality :
Company said board deferred proposed share buyback and bonus issue.

🎯 Dena Bank :
Dena bank proposed to sell NSDL E-Governance Infrastructure, NSDL and SIDBI shares.

🎯 United Bank of India :
Bank hiked MCLR by 10 basis points across all tenors from July 5.

🎯 GVK :
GVK Group may sell its nearly 50 % stake in TAJGVK Hotels and Resorts—a joint venture with Tata Group’s Indian Hotels Company—to Fairfax Holdings.(Economic Times).

🎯 Federal Bank :
Bank in talks to acquire Madura Microfinance for Rs.720-750 crore (Economic Times).

🎯 Vedanta :
Company to raise up to Rs.1,500 cr through NCDs.

🎯 Tech Mahindra :
Company signs IT pact with UK university

🎯 Shree Cement :
Company incorporates two investment firms in Dubai.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers

3rd July, Morning Brief

Inched up opening failed to sustain its opening gains and slipped to 1% negative to make the bottom of the day but last hours' recovery cut the losses for the first day of the week.

Nifty opened with a slight gap at 10732 but failed to hold 10700 mark and dipped to 10604 but recovered some losses to end at 10657.3 which made a dark cloud cover pattern on the daily chart. Now 10740-10750 will be an immediate resistance for the Nifty50.

With gains in Apple and other technology stocks, US indices closed into positive after a choppy session. Dow closed at 24,307.18 gained 35 points, while the S&P 500 gained 8 points to 2,726.71. The Nasdaq Composite added 57 points to settle at 7,567.69.

Asian majors are trading on a lower side in the morning today.

🎯 News & Impact 🎯

🎯 Hero MotoCorp :
June sales up 13 % at 7.04 lakh units.

🎯 Strides Shasun :
Company received U.S. FDA approval for Ibuprofusen tablets.
Positive for the stock. 👍

🎯 Dr Reddy :
Company announces launch of Repatha in India.

🎯 Auropharma :
The firm has received USFDA approval for Ibuprofen OTC capsules. It is a painkiller drug.
Positive for the stock. 👍

🎯 Jain Irrigation Systems :
Company promoter acquired 4 lakh shares from June 28-29.
Positive for the stock. 👍

🎯 Kwality :
Promoter Sanjay Dhingra sold 13 lakh shares or 0.54 % equity at Rs 22.07 each.
Negative for the stock.

🎯 NCC :
Company received four new orders worth Rs.2,061 crore for June.

🎯 Fortis Healthcare :
Last day for submission of binding bids for the hospitals business.

🎯 Nestlé :
Company introduces NESPLUS - an exciting new range of breakfast cereals.

🎯 ONGC :
Board gives nod to explore group restructuring options (PTI).

🎯 ITC and Ballarpur Industries :
Both the companies clarify that no negotiations have taken place for ITC acquiring BILT’s Telengana unit.

🎯 Parag Milk Foods :
Board approved acquiring patented product rights from Sweden-based organization.

🎯 Capital First :
Company entered into agreement to acquire 7.03% of stake in Village Financial Services

🎯 Tata Power :
Company arm commissioned 100MW solar capacity in Andhra Pradesh.

🎯 MRPL :
Board considered the proposal for enhancement of public shareholding limit to 25% via pref allotment.

🎯 Syndicate Bank :
Bank clarified credit facility given to DS Kulkarni was in compliance with RBI guidelines.

🎯 Rico Auto :
Company shut loss making unit in Haryana.

🎯 Green Ply :
Company commences commercial production of Medium Density Fibreboard (MDF) at its Andhra Pradesh manufacturing unit

🎯 NIIT Tech :
Company establishes a center of excellence for its digital transformation practice in Bengaluru.

🎯 Tech Mahindra :
partners US-based LIFARS for digital forensics platform.

🎯 GSFC :
Company inks licence pact with Mitsui Chemicals to set up plant.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers