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.
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