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.
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