1st October 2018

A flat opening expected as SGX Nifty is trading up marginally by 9 points.

In the month of September, Nifty cracked 750 points nearly 6.5% and Sensex collapsed by 2418 points.

10780 can be a support level for Nifty50 and 11150-11180 can be a resistance in near term.

🎯 News & Impact 🎯

🎯 Bandhan Bank :
RBI froze remuneration of MD & CEO till further notice.
Negative for the stock.

🎯 Karur Vysya Bank :
RBI imposed penalty of Rs 5 crore on Karur Vysya Bank.
Negative for the stock.

🎯 IL&FS Transport :
India Ratings withdrawn its rating on company's commercial papers of Rs 310 crore while CARE downgraded rating on long term bank facilities of Rs 2,241.5 crore though interest due and payable on September 28 on non-convertible debentures - Tranch XXIV, Series 1 and Series 2 has been made to debenture holders.
Negative for the stock.

🎯 Kalpataru Power :
The firm bagged orders worth Rs 1,145 crore.
Positive for the stock. 👍

🎯 Suven Life Sciences :
CARE Ratings has upgraded its short and long term bank facilities.
Positive for the stock. 👍

🎯 M&M :
CRISIL reaffirmed its ratings to Mahindra & Mahindra's long term bank loan facilities Rs 1,100 crore to AAA/Stable.

🎯 Engineers India :
The firm has bagged an order over Rs. 5,000 crore from HPCL Rajasthan.

🎯 GSPL :
PNGRB has fixed the final initial unit natural gas pipeline tariff for the company's High & low Pressure Gujarat Gas Grid.

🎯 Indian Hotel :
Company has been successful in winning the bid for Hotel Taj Mansingh, New Delhi.

🎯 TCS :
Company selected as the preferred engineering and digital transformation partner for Fortive Corporation.

🎯 NMDC :
Company fixed prices of lump ore (65.53. 6-40mm) at Rs 3,850 per tonne and fines (643, - l Omm) at Rs.3,310 per tonne.

🎯 Maithan Alloys :
CARE upgraded the rating for long term bank facilities to AA; Stable from AA-.

🎯 TAAL Enterprises :
Board declared an interim dividend of Rs. 10 per share for the FY 2018-19.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers

28 September 2018 Morning Brief

Market will open on a positive note as opening indicator SGX Nifty is trading up by 38 points.

Nifty failed to sustain above 11000 mark on the September month derivative contracts' expiry day and could not breach the descending trend on the daily chart. Nifty50 should close above 11090 to breach that short-term down trend. 11150 will be the resistance thereafter.

🎯 News & Impact 🎯

🎯 JSW Steel :
JSW Steel replacing Lupin in the benchmark NSE Nifty 50 Index today.

🎯 Indian Energy Exchange :
Stock split record date 22 Oct.

🎯 GAIL & GSPL :
PNGRB revises pipeline tariffs for GAIL (India) Ltd. and Gujarat State Petronet Ltd. effective from April 1. The hike in tariffs is expected to lift earnings by 6-19 percent for both the companies.
Positive for the stock. 👍

🎯 Kesoram Industries :
Company received approval from the Karnataka government for acquisition of 675 acres of land for mining activities.
Positive for the stock. 👍

🎯 Cochin Shipyard :
Company and the Andaman & Nicobar Administration have entered into an MoU whereby company shall take up the operation & maintenance of the Marine Dry-Dock at Port Blair.

🎯 IL&FS Financial Services :
Company defaulted on 7 repayments between September 12 & 27. 👎🏻

🎯 Time Technoplast :
promoter have sold 1.1% stake of company. 👎🏻

🎯 DB Realty :
Company to increase its stake in Neelkamal Realtors Tower Pvt. Ltd.

🎯 Karnataka Bank :
Bank launched QR coded two-wheeler insurance product in association with Bajaj Allianz General Insurance.

🎯 Redington :
Buyback 1.1 crore shares representing 2.78 % of the total number of equity shares at a price of Rs.125 per share.

🎯 Astec Lifesciences :
Company announced that the start of the commercial operations of its manufacturing plant in Maharashtra. 

🎯 Rolta :
Central Bank invoked pledge on the shares of Rolta India’s arm. 

🎯 Eimco Elecon :
Company has entered into a Technology & License Agreement with CZM USA Corp, USA for design, manufacture and sale of drilling rigs, generally used in construction sector.

🎯 Accel Frontline :
Name change to Inspirisys Solutions Limited.

27 September 2018

A positive opening expected as SGX Nifty is trading up by 23 points.

A range bound session ended with minor losses yesterday as traders remained cautious ahead of FED meeting outcome whether it will hike interest rates later this year.

US markets ended on a lower side yesterday.

Declining trend of Nifty50 can be breached if it closes above 11150 today. Derivative contracts' expiry of September month today may keep market volatile.

🎯 News & Impact 🎯

🎯 BSE :
Gets SEBI approval for futures contract in gold, silver.

🎯 HCL Tech :
Company signs new five-year infrastructure services contract with Anglo American.

🎯 IIFL :
IIFL Wealth Finance approves raising Rs 500 crore via debentures.

🎯 Torrent Power :
Company wins order for 115MW wind power project from Solar Energy Corporation of India. The bid tariff for the new capacity addition was Rs 2.76/KWH.

🎯 TD Power Systems :
Company board approves buyback of 11.7 lakh shares representing 3.53 % of the equity capital.

🎯 State Bank of India :
Bank committee approves divestment of its 86.2 lakh shares constituting 4 percent stake in SBI General lnsurance for Rs. 481.73 crore to Axis New Opportunities AIF-l and Pl Opportunities Fund (owned by Azim Premji.

🎯 Rcom :
Company in talks to sell controlling stake after asset sale to Jio.

🎯 Reliance Infra :
Company clarifies that the company is compliant of MERC order, with response to news that the company was pulled for buying costly coal and driving up electricity rates.

🎯 NBCC :
Company receives principle approval from Air India to monetize or redevelop its land parcel in Delhi.

🎯 DHFL : 
BNP Paribas acquired 51.5 lakh shares (1.64 percent) at Rs 297.87 each.
Positive for the stock. 👍

🎯 Chambal Fertilisers & Chemicals : Promoter acquired 77,500 shares from Sept. 24-25.
Positive for the stock. 👍

🎯 UPL :
Company promoter acquired 88,700 shares on Sept. 24.
Positive for the stock. 👍

🎯 Mannapuram Finance :
Company promoter and director VP Nandakumar acquired 15 lakh shares from Sept. 11-21.
Positive for the stock. 👍

🎯 KEC International :
Company promoter acquired 40,000 shares from Sept. 24-25.
Positive for the stock. 👍

🎯 Infibeam :
Infibeam Avenues promoter group acquired 13.4 lakh shares on Sept. 21.
Positive for the stock. 👍

🎯 Ganesh Films :
Company has acquired the sole theatrical distribution rights for North India region from Studio Green for the movie 'Nota' and from Neelam Productions for the movie 'Pariyerum Perumal

🎯 Basic customs duty has been increased on 19 items to curb import of certain items.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers

26 Sept 2018 Morning Brief

A gap up opening expected as SGX Nifty is trading up by 65 points.

A volatile session ended with a positive closing which beat the five day losing streak yesterday. Nifty has plotted a bullish piercing type candle on the chart. Any closing above 11180 will break the short term downtrend set by last 6 sessions.

🎯 News & Impact 🎯

🎯 Bank of Baroda :
Moody's affirms bank's ratings, outlook stable.
Positive for the stock. 👍

🎯 Godrej Properties :
Company adds new residential project in Ghodbunder Road, Thane.

🎯 Rites :
Company has a joint venture company i.e. BNV Gujarat Rail Private Limited. Company has remitted second tranche of investment for an amount of Rs 24,70,000 to subscribe joint venture company's right issue.

🎯 NHPC :
Unit 2 of Parbati-II HE Project (4 x 200 MW) in Himachal Pradesh has been successfully synchronised with the grid at 10-11 MW load. Further, the Load throw off test on Unit 2 has been carried out successfully at 25 percent load (50MW) and at 100MW (50 percent load).

🎯 Adani Green Energy :
Company has won tender for setting up 300 MW Wind generation project.

🎯 Cosmo Films :
Company announced installation of a new solvent less lamination machine at its Karjan plant, Vadodara.

🎯 Greenply Industries :
Company sets up Euro 11-mn facility in Gabon.

🎯 Glenmark Pharma :
Company to consider buyback of its foreign currency debt worth $200 million on Sept. 28.

🎯 Tech Mahindra :
Company announced a strategic partnership with U.S.-based Cloudleaf Inc. The company will leverage Cloudleaf’s patented sensor fabric to deliver internet of things solutions across manufacturing telecom, aerospace, healthcare and automotive industries.

🎯 Blue Dart :
Company to invest Rs.200 crore for its expansion plans in tier II, IIII and IV towns.

🎯 Vakrangee :
Circuit filter revised to 5 percent.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers

25 September 2018, Morning Brief

Market may open on a flat-positive note as SGX Nifty is trading up by 19 points.

Yesterday, market could not sustain on the upper side and slipped into red immediately after opening positively. Nifty closed below its 11000 mark and made a bearish belt hold pattern on the daily chart.

Liquidity crunch in NBFCs, trade tensions between US and China, rising crude oil prices and weakening rupee weighed on sentiment made investors more fearful.
IT stocks supported the index from sliding more. TCS was the top gainer and Eicher & HDFC were among the top losers other than Indiabulls housing finance.

Nifty Outlook :

Nifty has to close above 11050 to breach the 6 sessions' descending trend. Down side has been opened upto 10850-10760 level.

🎯 News & Impact 🎯

🎯 Yes Bank :
clarifies on news report "RBI slaps Yes Bank with Rs 38 crore over GST Violations': Heading used by news agency is inappropriate and RBI has not imposed any fines/ penalties over GST violations on the bank.
Positive for the stock. 👍

🎯 HFCL :
Company received purchase orders for Rs 558.36 crore from Bharat Sanchar Nigam (BSNL) for PAN Indian Defence Communication Network.
Positive for the stock. 👍

🎯 SBI Life :
BNP PARIBAS Cardif may consider reducing its shareholding in the company.

🎯 Vakrangee :
Company entered into distribution agreement with Aditya Birla Housing Finance, which shall offer distribution of home loan and other related products.

🎯 Mangalam Drugs & Organics :
Company received the final approval from WHO for the drug Efavirenz.

🎯 ABB :
Company launched its most economical charging solution for electric vehicles.

🎯 Zensar Tech :
Company launched 3 in 1 Insurance Module, which provides insurance companies a centralised data environment across consumer, agent and employee data. 

🎯 Infosys :
Public Services and Procurement Canada selects Infosys public services to deliver its electronic procurement solution.

🎯 ENIL :
Company commenced broadcast from its radio station at Hubli-Dharwad (98.3 FM) - acquired under Phase 3 auctions.

🎯 Majesco :
CCMSI selects Majesco Policy and Billing for P&C on Majesco Cloudlnsurer and Majesco Insurance Data & Analytics Platform.

🎯 Sadhana Nitrochem :
Board approved sub-division of a share of Rs.10 into two equity shares of Rs. 5 each.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers

24 September 2018 Morning Brief

Market will open on a negative note as SGX Nifty is trading down by 24 points.

Technically Nifty has almost completed it's 80.9 % retracement which is placed at 10787 on the daily chart. Nifty may face an another panic today because of margin calls at brokerage houses. Nifty should not close below 10750-10780 zone to re-grip by the bulls. 11250 will be the level on which Nifty should close to confirm the breach of the down trend made of last 5 sessions.

🎯 News & Impact 🎯

🎯 Biocon :
Biocon and its partner Mylan announced that they have received positive opinion from the European Medicines Agency’s Committee for Medicinal Products for Human Use for recommending approval of bio-similar product 'Fulphila'.
Company's drug substance facility in Bangalore completed US FDA inspection with no observations.
Positive for the stock. 👍

🎯 IL&FS Group :
Company said that it was unable to service obligations on some debentures due Sept. 21.
Negative for the stock.

🎯 DHFL :
Company’s Kapil Wadhawan cleared that the company has not defaulted on any bonds or repayment nor has there been any single instance of delay on any of its repayment of any liability.

🎯 Infosys :
Company partners with Google Cloud to develop data native intelligent enterprise.

🎯 Reliance Industries :
Company's telecom unit signed a five-year contract with Star TV for broadcasting cricket content on its platform ‘JioTV’ and Hotstar.

🎯 ITD Cementation :
Company received an order worth Rs.845 crore for Trichy’s International airport upgradation.

🎯 ABB India :
Company to supply power solutions at 23 subtraction stations between 1,500 kilometers lines between Mumbai and Dadri.

🎯 Bayer CropScience :
Company mulls to merge with Monsanto India Ltd.

🎯 Usha Martin :
Tata steel to takeover steel business of Usha Martin for anywhere between Rs. 4300 crore to Rs.4700 crore.

🎯 Sequent Scientific :
Company to acquire Mahad facility of Solara Active Pharma for an enterprise value of Rs. 46.4 crore.

🎯 Galaxy Surfactants :
Company gets clearance from the Maharashtra Pollution Control Board to re-open Taloja facility.

🎯 Cipla :
Company receives final approval for generic version of Impax Laboratories' Albenza (Albendazole tablets 200mg).

🎯 ICICI Bank :
The bank proposed to acquire 8.85 percent stake in Avenues Payment India.

🎯 Jindal Worldwide :
Company has acquired 30 lakh shares at Rs.3 crore of Planet Spinning Mills Private Limited.

Edited by Sharp

© 2018 Sharp Investment & Financial Advisers

19 Sept 2018 Morning Brief

Market may open positively as SGX Nifty is trading up by 26 points today.

18 Sept 2018 Morning Brief

Market will open on negative note as an opening indicator SGX Nifty is trading down by 23 points.

Nifty has plotted a bearish belt hold pattern on it's daily chart.

🎯 News & Impact 🎯

🎯 GCPL :
Board approves bonus share allotment.
Positive for the stock. 👍

🎯 OFS Technologies :
Company approved issue of bonus shares of 6 for 10 held.
Positive for the stock. 👍

🎯 Government announced the merger of Bank of Baroda, Dena Bank and Vijaya Bank. The proposal will now need to be passed by the boards of the individual banks. The combined bank will be the third largest in India.
Positive.

🎯 NTPC :
Company approved investment in Talcher Thermal Power Project, Stage-Ill (2x660 MW) at an appraised current estimated cost of Rs.9785.79 cr.
Positive for the stock. 👍

🎯 GNFC :
Govt of Gujarat directed to participate in equity of Bhavnagar Energy Co
Positive for the stock. 👍

🎯 Sterlite Technologies :
Aims 10 % global fibre market share by June 2020
Positive for the stock. 👍

🎯 Gujarat Gas :
Company received authorisation for local natural gas distribution for the Narmada district in Gujarat from PNGRB. The company has been granted infrastructure exclusivity till 2043 and marketing exclusivity till 2026. The proposed gas distribution network will cover a geographical area of 2,817 square kilometers.
Positive for the stock. 👍

🎯 Oriental Bank of Commerce :
Icra downgrades long-term ratings.
Negative for the stock.

🎯 Infosys :
Company doubles investment in US-based TidalScale to $3 million.

🎯 Adani Ports :
forms JV to provide logistic service to auto industry.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers

17 Sept 2018 Morning Brief

Market will open with a gap down as SGX Nifty is trading down by 53 points.
11360-11380 would be the support level for Nifty and 11600 will be the resistance for further journey.

New import tariffs to be announced on Chinese goods by US made Asian markets nervous in the morning.

JP Morgan reported that US may face financial crisis in 2020.

🎯 News & Impact 🎯

🎯 IRCON International :
IPO opens at Rs. 470-475.

🎯 REC :
Net Interest Income down 10.5 % at Rs 2,041 crore.
Net Profit up 36.5 % at Rs 1,468.7 crore.

🎯 Kirloskar Pneumatic :
Company has fixed Sept. 27 as its share-split record date.

🎯 Gammon Infra :
Company received Rs.14.7 Cr from NHAI for sale of its subsidiary company in 2016.

🎯 MEP Infrastructure Developers : 
Toll tax department asked the company to extend suspension of collection of toll tax from any specified commercial vehicle till Sept. 30.

🎯 Sterlite Technologies :
Company will be making an addition of 15 million fibre km to its optical fibre cabling capacity.

🎯 Infosys :
Infosys to acquire 100 % stake in cloud consulting and training services company Fluido for Euro 65 million.

🎯 Cipla :
Company's Uganda arm raised 16,646.8 crore shillings (UGX) from its IPO listing in the East African country. 

🎯 Wipro :
Company's arm signed an agreement with Mercury Network to jointly offer loan appraisal management platform.

🎯 Future Supply Chain Solutions :
The company is appointed as the logistics partner for the brand “Voltas Beko”.

🎯 Dynemic Products :
Company has received an environment clearance for its unit III project located at Dahej in Bharuch.

🎯 Uday Jewellery :
Company has started export of its speciality jewellery and has completed its first export.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers

14 September 2018

A gap up opening expected as SGX Nifty is trading up by 45 points.  Market may trade positively today and Nifty May hit 11430 level of an immediate resistance.

As mentioned in previous blog that we expecting a bounce-back, Nifty bounced from intra-day low of 11250 to end at 11370.
Nifty50 became volatile after gap up opening on Wednesday. But on reports that Prime Minister may hold economic review meeting to consider fiscal or monetary measures on Saturday, market started gaining.

🎯 News & Impact 🎯

Result Today : REC

🎯 Cadila Healthcare :
Zydus receives final approval from the USFDA for Risedronate Sodium Delayed-release tablets.
Positive for the stock. 👍

🎯 Lupin :
Company receives USFDA approval for generic Atovaquone Oral Solution USP.
Positive for the stock. 👍

🎯 Glenmark :
Company's development of immune-oncology drugs received a boost, as the U.S. based-Mitra Biotech announced its partnership with the pharma company.
Positive for the stock. 👍

🎯 Sun Pharma & SPARC :
Companies announce USFDA approval of XELPROS to treat open-angle Glaucoma or Ocular Hypertension.
Positive for the stock. 👍

🎯 Jain Irrigation Systems’ U.S. arm acquired irrigation technology company ‘ETwater’. The company said that its position in U.S. smart agriculture market will be fortified and its operations will scale up, post this acquisition.
Positive for the stock. 👍

🎯 Torrent Pharmaceuticals :
The U.S. FDA testing of products showed an additional unexpected impurity in three lots of earlier recalled Valsartan drug products.
Negative for the stock. 👎

🎯 Tata Motors :
Fitch revised Tata Motors’ JLR outlook to negative from stable.
Negative for the stock. 👎

🎯 Dr Reddy :
Company launches Neostigmine Methylsulfate Injection, USP in the US market.

🎯 NBCC :
Company to buy HSCC for Rs.285 cr.

🎯 Vedanta :
Vedanta announced hydrocarbon Discovery in well A3-2 within its operated block KG-OSN-2009/3 within Krishna-Godavari Basin, East Coast of India.

🎯 HCL Tech :
Company offered to buyback 3.63 crore shares (representing 2.61 % of its equity shares) at a price of Rs.1,100 per share.

🎯 Redigton India :
Subsidiary ProConnect Supply Chain Solutions increased its shareholding in Rajprotim Supply Chain Solutions from 76 % to 88 %.

🎯 Fortis :
Shivinder Mohan Singh withdraws NCLT petition against elder brother Malvinder Singh.

🎯 Voltas :
Company formed a Joint Venture with Arcelik. JV’s new brand Voltas Beko plans to launch over 100 units of refrigerators, washing machines and microwaves over the next three months.

🎯 Engineers India :
Company to acquire 100 % stake from Government of India in Projects and Development India Ltd.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers

12 Sept. 2018 Morning Brief

Market may open flat and a bounce-back expected in the session. Nifty has broken it's important support of 11400 and next major support is at 11080 level.

🎯 News & Impact 🎯

🎯 Reliance Capital :
Q1 profit at Rs 111 crore versus loss of Rs.417 crore; revenue falls to Rs 563 crore versus Rs 790 crore (YoY).

🎯 Cipla :
Company received approval for its HIV treatment combination medicine ‘TLD’ from the South African Health Products Regulatory Authority.
Positive for the stock. 👍

🎯 Ajanta Pharma :
Company received U.S. FDA nod for Fenofibrate oral capsule.
Positive for the stock. 👍

🎯 Salzer Electronics :
Promoters increased their stake in the company by 2 % to 36 %.
Positive for the stock. 👍

🎯 Sun Pharma :
Company's Mohali facility is undergoing inspection by U.S. FDA.

🎯 Godrej Agrovet :
Company mulls to merge its subsidiary Astec LifeSciences with self.

🎯 Wipro :
Company appointed as a Europe-based delivery partner for Duck Creek Technologies’ insurance software products. 

🎯 Redington India :
Company to consider share buyback.

🎯 Alembic :
Board has given approval for demerging Identified Real Estate Undertaking of the Company into Shreno Limited.

🎯 Narayana Hrudayalaya :
NH Health Bangladesh Private Limited, a step-down subsidiary of company, has entered into definitive agreements to partner with Imperial Hospital Limited in Chittagong, Bangladesh.

🎯 IL&FS Transport :
CARE and ICRA downgraded IL&FS Transportation’s NCDs and bank loan facilities.

🎯 Adani Green :
Company has incorporated a wholly-owned subsidiary company Adani Saur Urja (KA).

🎯 Satin Creditcare :
Company in next few months will file application with RBI for NBFC license of Satin Finserv.

Edited by Sharp Investment & Financial Advisers

11 Sept 2018 Morning Brief

Market will open with negative bias as SGX Nifty is trading down by 13 points.

After a gap-down opening, market extended the losses die to rupee fall and US China renewed trade tensions. Nifty has broken the psychological support of 11500. Nifty has plotted a long bearish candle on the daily chart. Nifty has a support at 11400 level and we can expect a bounce-back from the level if global markets will be supportive.

🎯 News & Impact 🎯

Ex-Bonus - GSK Pharma

🎯 Sun Pharma :
Sun Pharma’s wholly owned subsidiary to acquire 18.75% stake in Israel based Tarsius Pharma for $3 million.

🎯 Reliance Home Finance :
Revenue from operations grew 5.5 % to Rs.404 crore.
Net profit rose 41 % to Rs.48 crore.

Abu Dhabi Investment Authority, Singapore's sovereign wealth fund GIC and Public Sector Pension Investment Board of Canada are in race to pick 25 % stake in Reliance Home Finance for Rs.1,500-2,000 crore.

🎯 JP Associates :
ICICI Bank filed bankruptcy petition against the Jaiprakash Associates. 
Negative for the stock.

🎯 Container Corporation of India : 
Company signed an agreement to form joint working group with Central Warehousing Corporation, to operate its container freight station facility at Pipavav port.

🎯 Indian Wood Products Company : Company has received the licence to establish and operate in Jammu & Kashmir from the Conservator of Forest, East Circle Jammu.

Edited by Sharp Investment & Financial Advisers

10 Sept 2018 Morning Brief

Cyient Australia Pty Ltd, a wholly subsidiary of Cyient Limited has acquired 86 percent in Cyient KK (another subsidiary of the company).A gap down opening expected as SGX Nifty is trading down by 50 points on trade war escalation fear and its effects.

🎯 News & Impact 🎯

🎯 HEG and Graphite :
Supreme Court allowed import of needle pet coke.
Positive for the stocks. 👍

🎯 IL&FS :
ICRA downgrades loan, debenture rating of IL&FS to 'default risk'.
Negative for the stock.

🎯 Reliance Power & Reliance Naval :
Both companies pledge shares with Yes Bank.
Negative for the stocks.

🎯 NTPC :
Board approves Rs.9.7k cr investment for 1,320 MW expansion at Talcher plant.

🎯 Union Bank of India, Bank of India and Bank of Maharashtra :
Banks received a penalty order of Rs 1 crore each from Reserve Bank of India.

🎯 Coal India :
Company received a notice from Orissa State Pollution Control Board for non-compliance of environmental norms.

🎯 Thyrocare Technologies :
Company approved buyback of 8.63 lakh shares at Rs.730 per share aggregating to Rs. 66 crores.

🎯 Glenmark :
Company secures marketing authorization in Germany for its generic version of Seretide Accuhaler.

🎯 Omax Autos :
Board approved proposal for establishing a new manufacturing unit in Uttar Pradesh, for manufacturing products and equipment supplied to railways.

🎯 RITES :
Company received a turnkey railway contract of Rs.294.67 crore from ministry of railways.

🎯 Cyient :
Cyient Australia Pty Ltd, a wholly subsidiary of Cyient Limited has acquired 86 percent in Cyient KK (another subsidiary of the company).

🎯 Reliance Capital :
Company received certificate of registration from RBI as a core investment company.

🎯 Linde India :
Company got approval from Competition Commission of India for its combination with Praxair.

Edited by Sharp Investment & Financial Advisers.

6 Sept 2018 Morning Brief

A positive opening expected as SGX Nifty is trading up by 15 points.

As mentioned yesterday, Nifty closed above its support of 10430 even after it dived below 10400 mark. As expected it recovered smartly in the second half to plot a hammer like candle on the daily chart. Hammer pattern shows the strength of bulls over bears from the lowest level of the day. A hammer consists of a big lower shadow but no upper shadow.

🎯 News & Impact 🎯

🎯 Jindal Stainless mull increasing its foreign portfolio investor investment limit to 100 percent of the paid-up equity share.
Positive for the stock. 👍

🎯 Auropharma :
Wholly owned subsidiary, Aurobindo Pharma USA Inc., USA, has entered into an agreement to acquire commercial operations and three manufacturing facilities in USA from Sandoz.

🎯 Alembic Pharmaceuticals :
CRISIL reaffirmed credit rating of AA+/Stable.

🎯 Fortis :
Delhi High Court ordered Malvinder Singh to deposit S$3.5 million.

🎯 ONGC :
Output from the South Sudan oil field will increase from 8,000 barrel/day to 20,000 barrel/day.

🎯 PSP Projects :
Company has received work orders worth Rs.226.07 crore (standalone basis) from various clients for industrial and institutional projects.

🎯 Nandan Denim received a sanction of subsidy under the Gujarat State Textile Policy, expecting to save Rs.65 crores in next 5 years.
Positive for the stock. 👍

🎯 Welspun Corp :
Board approved the merger plan pf Welspun Pipes with self.

🎯 Bharti Infratel :
Vodafone Idea Ltd. to exit 27,447 co-locations w.e.f. Sept. 1, 2018.
Negative for the stock.

🎯 Quess Corp :
Company approved acquisition of additional 3 % equity in Heptagon Technologies Private Limited.

🎯 Jubilant Life Sciences :
Company raises Rs.350 cr via NCDs.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers

5 Sept 2018 Morning Brief

Market may open with a gap down as SGX Nifty is trading down by 49 points.

Existing trade tensions made global market nervous. Another bearish candle plotted on the daily chart yesterday. Weak opening expected today but chances of buying at lower level may emerge as Nifty has a support at 11430.

🎯 News & Impact 🎯

🎯 Dr. Reddy’s Lab :
Company received tentative approval from USFDA for Esomeprazole Magnesium Tablets.

🎯 Sun Pharma Advanced Research :
Company releases deadlines for the U.S. FDA to review its two new drugs ‘Xelpros’ and ‘Elepsia’ as November 2018 and January 2019 and may shift research center to Vadodara.

🎯 LT Foods arm Nature Bio Foods secures equity funding of Rs 140 crore from Rabobank’s India Agri Business Fund II.

🎯 Goldiam International :
Company received its highest ever confirmed export orders worth Rs140 crore from its International clients

🎯 ABB :
Company has redeemed the entire 600 unsecured rated listed redeemable non-convertible debentures of face value of Rs.1,00,00,000 each on September 4.

🎯 IL&FS Engineering :
CARE Ratings has revised the credit rating of the company for long / short term bank facilities aggregating to Rs 3,091.33 crore.

🎯 Scanpoint Geomatics :
Company has received a project for design and development of software application for North Eastern Spatial Data Repository (NeSDR) from North Eastern Space Applications Centre (NESAC). The aggregate value of the said project is Rs 1.05 crore.

🎯 Jagran Prakashan :
Company has made an additional investment in the equity shares of MMI Online (MMI) by way of acquiring 18,28,300 equity shares, post acquisition will increase to 44.92 %.

🎯 LG Balakrishnan :
ICRA upgraded the rating from MAA- to MAA for accepting the fixed deposits of the company.

🎯 Muthoot Finance :
Company decided to raise funds up to an amount of Rs.5,000 crore.

🎯 Emami Infrastructure mulls modifying its memorandum of association by entering into manufacturing of crude drugs and raw materials, pharmaceutical preparations, aerated and mineral waters and similar other preparation.

🎯 Texmo Pipes and Products :
Company receives orders of HDPE pipe worth Rs.81.30 crore from L&T.

🎯 McNally Bharat Engineering receives construction order worth Rs 108 crore from Neyveli Lignite India (NLC).

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers

4 Sept Morning Brief

A flat opening expected as SGX Nifty is trading up by 1 point.

Nifty opened on a positive note yesterday but failed to hold the momentum and nose dived to end at day's low. GDP growth rate couldn't able to provide the strength to the bulls and resulted a strong bearish engulfing candle on the daily chart. Profit booking in all sectors is the reason behind the all round sell-off.

🎯 News & Impact 🎯

🎯 Jet Airways :
Company's long-term rating cut to ‘BB’ from ‘BB+’ at ICRA.
Negative for the stock.

🎯 VST Tillers :
August sales data: Power tillers sales up 1.1 % at 1,646 units versus 1,628 units and tractors sales down 49.7 % at 517 units versus 1,028 units.

🎯 Persistent Systems :
Company's U.S. arm acquires 100 percent stake in Herald Technologies for $5.2 million.

🎯 Muthoot Finance :
Company to consider raising Rs.5,000 crore vis non-convertible debentures.

🎯 GMR Infra :
Company divests stake in four Indonesian firms.

🎯 Relinfra :
Company has paid Rs.2,640 crore outstanding electricity dues to Maharashtra government.

🎯 BHEL :
NHPC signed MoU with BHEL for consultancy and joint cooperation in Hydro-electric Projects in India for a period of 3 years from the date of signing.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers

3 Sept. Morning Brief

A flat to positive opening expected as SGX Nifty is trading up by 21 points today.

🎯 News & Impact 🎯

🎯 Real estate stocks will be in focus as the Supreme Court of India, in an interim order, banned all construction activity till Oct. 9 in 4 states.

🎯 Sun pharma :
The U.S. FDA completed auditing Sun Pharma's Halol plant with no observations.
Positive for the stock. 👍

🎯 Ramky Infrastructure :
Company to sell 100 % of its stakeholding in NAM Expressway Ltd. to Singapore based Cube Highways Pvt. Ltd. for Rs.140 crore.

🎯 L&T Infotech :
L&T to sell 59 lakh shares (representing 3.41 percent of total paid up equity) of the company through offer for sale on September 3 and 4.
Negative for stock.

🎯 Kwality :
Company approved increase in the limit of shareholding by Registered Foreign Portfolio lnv & Foreign Institutional Investors from 24% upto 74%
Positive for the stock. 👍

🎯 Britannia :
LIC increased its stake to 5.009 %.
Positive for the stock. 👍

🎯 BHEL :
CRISIL has revised company's outlook to Stable from Negative while affirmed the rating for bank facilities at AA+.
Positive for the stock. 👍

🎯 HCL Tech :
Sciencelogic and HCL Technologies partnered to bring Aiops to global enterprise customers.

🎯 Graphite : 
Company's wholly owned subsidiary in Netherlands has signed an investment agreement for acquisition of upto 46 percent stake in General Graphene Corporation, an unlisted US company involved in development of Graphene for commercial applications, for $18.595 million.

🎯 PNB :
Bank is looking to sell its entire holding of 0.11 percent in the National Stock Exchange and is expecting to raise over Rs.48 crore by divesting the stake.

🎯 MOIL :
Company increased prices of ferro grade ore by about 5 % to 10%.
Positive for the stock. 👍

🎯 LT Foods :
Company approved the proposed investment of up to Rs.140 crore by India Agri Business Fund II Limited in Nature Bio Foods Limited, a wholly owned subsidiary of the company, in one or more tranches.

🎯 Trident Texofab :
Company has commenced commercial operation of embroidery and stitching unit at Surat from September 1.

🎯 Orient Abrasives :
The issue with the workers/labourer have been settled and resolved amicably and that the operations of the company have resumed from August 31.

🎯 WIPRO :
Company bagged the biggest deal so far  valued at over $1.5 billion from Alight Solutions LLC.

🎯 Indraprastha Gas :
Company hiked CNG prices for New Delhi and neighbouring suburbs by 63 to 70 paise per kg.
Positive for the stock. 👍

🎯 Indian Oil raised prices of subsidised LPG cylinder.
Positive for the stock. 👍

🎯 Maruti Suzuki sales declined 3.4 % to 1.58 lakh units.

🎯 M&M sales rose 14 % to 48,324 units.

🎯 Ashok Leyland sales rose 27 % to 17,386 units.

🎯 Escorts sales rose 4.9 % to 4,812 units.

🎯 Tata Motors's domestic sales rose 27 % to 58,262 units.

🎯 Hero MotoCorp sales rose 0.9 % to 6.85 lakh units.

🎯 Eicher Motors' Royal enfield sales rose 2 % to 69,377 units.

🎯 TVS Motor sales rose 8 % to 3.43 lakh units.

🎯 SML Isuzu sales rose 37.5 % at 744 units.

🎯 Atul Auto sales rose 10.12 % at 4,430 units.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers