Market will open on a positive note today.
Nifty has formed a bullish candle on the daily chart on Friday as bulls got full control over the session.
A slightly higher inflation rate (3.77 vs 3.69) and slower rate of industrial output for August month (4.3 vs 6.52) will keep indices under pressure today. But stock specific results may cherish the market on later part.
Nifty has resistance around 10550 from where it may re-test 10420 level in the day session. Major supper would be at 10190 for the this week.
🎯 News & Impact 🎯
Result Today : Indusind Bank
Results Update :
🎯 Hindunilvr :
Profit jumps 19.5 % to Rs.1,525 crore; revenue rises 11.1 % to Rs.9,234 crore (YoY).
Positive for the stock. 👍
🎯 AU Bank :
Profit rises 34 percent to Rs 91 crore; net interest income increases 46 percent to Rs 321 crore (YoY).
Positive for the stock. 👍
🎯 Dmart :
Profit rises to Rs.225.74 crore versus Rs. 191.04 crore; revenue jumps to Rs. 4,872.5 crore versus Rs. 3,506.92 crore (YoY).
🎯 Indian Oil Corporation :
Chairman Sanjiv Singh said that the company will not stop its aviation turbine fuel supply to Air India.
Positive for the stock. 👍
🎯 Infy :
Company completed acquisition of Fluido, the largest salesforce consulting partner in Nordics.
🎯 8K Miles Software Services :
Company said that 25.7 lakh shares, representing 8.42 % of total equity holding held by promoter Suresh Venkatachari in his demat accounts held with Quantum Global Securities Ltd. and Kumar Share Brokers Limited, had been wrongfully and illegally transferred through off-market transactions on various dates to various parties without his knowledge/consent.
Stay cautious.
🎯 Bandhan Bank :
Bank got the SEBI’s exemption on one-year lock-in in equity shares held by promoter shares post the IPO.
Negative for the stock.
🎯 Info Edge :
Company said that its stake in Zomato reduced to 27.68 % from 30.91 %.
🎯 Saregama India :
Company set up its arm in UAE to start business of distribution of music players and pre-recorded songs player ‘Carvaan’ and dealing with related music and films right in Gulf countries and other geographies.
🎯 United Breweries :
Company forayed into a new line business of non-alcoholic beverages segment with launch of ‘Kingfisher Radler’.
🎯 Adani :
French energy giant Total is in talks to buy up to half of Adani Group's stake in LNG projects in Gujarat and Odisha.
🎯 Natco Pharma :
US Court affirms Teva's Copaxone patent as invalid.
🎯 Nitesh Estates :
Company entered into an agreement to sell 100 percent stake in step down tier II subsidiary - Nitesh Pune Mall Pvt. Ltd. It has signed agreement with ABIL group of Pune (Ela Realty, a SPV of ABIL).
🎯 PVR :
Company opened 10 screens multiplex at PVR ICON, VR Chennai, Tamil Nadu.
🎯 Dr Reddy :
Company announces the sale of its API manufacturing business unit in Jeedimetla, Hyderabad.
🎯 Cyient :
Company launched, its Geospatial Data Exploitation Solutions at Intergeo 2018
🎯 Mirza International :
Company incorporates wholly owned subsidiary in Bangladesh.
Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers
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