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
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