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