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India Ratings withdrawn its rating on company's commercial papers of Rs 310 crore while CARE downgraded rating on long term bank facilities of Rs 2,241.5 crore though interest due and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