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.
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