1st November, Morning Brief

Market will start with a positive note in continuation of yesterday's bull run.

As mentioned yesterday, after shrugging off 10350 resistance for Nifty50, it had inched towards 10500, a next resistance.

A volatile session ended with almost 300 points' gain for the Nifty50 from it's day low backed by strong global cues resulted into a bullish candle.

India's ranking on World Bank's latest Ease of Doing Business leaped by 23 notches to the 77th rank.
Growth of eight infrastructure sectors slowed down to 4.3 % in September, the lowest in the last four months.
US$ appreciated against IN₹ by 27 paise to settle 73.95. These two things may pinch the traders' sentiments.

US markets also cheered the better expectations about margins of social giant, Facebook. Dow closed up with 241 points' gain whereas Nasdaq added 144 points and S&P rose by 1%.

🎯 News & Impact 🎯

Major Results Today :
Hindpetro, HDFC, DLF, Marico.

Results Updates :

🎯 L&T :
Revenue up 21 % at Rs.32,081 crore.
Net profit up 22 % at Rs.2,230 crore.
Margin at 11.7 % versus 11.2 %.

🎯 Tata Motors :
Revenue up 3.3 % at Rs.72,112.1 crore.Ebitda down 16.4 % At Rs.6,757.6 crore.
Net loss at Rs. 1,049 crore versus net profit at Rs. 2,482.8 crore.
Margin at 9.4 % versus 11.5 %.
JLR -
Net revenue down 11 % to £5.6 billion.
Ebitda margin at 9.1 % versus 11.8 %.
Loss at £100 million versus £253 million.

🎯 Vedanta :
Revenue up 5.16 % at Rs.22,705 crore.
Net profit down 34.3 % at Rs.1,343 crore.
Margin at 22.9 % versus 26.3 %.

🎯 Adani Power :
Revenue up 16.6 % at Rs.7,181.5 crore.
Net profit up 22.1 % at Rs.3,86.9 crore.
Margin at 32.4 % versus 34.5 %.

🎯 Canara Bank :
Net interest income up 17.9 % at Rs. 3281.3 crore.
Net profit up 15.1 % at Rs.299.5 crore.
Provisions at Rs 2403.1 crore versus Rs. 2,466.2 crore. (QoQ)
GNPA at 10.56 % versus 11.05 % (QoQ).

🎯 United Spirits :
Revenue up 14.2 % at Rs.2,228.1 crore.
Net profit up 69 % at Rs.258.7 crore.
Margin at 19.4 % versus 16.3 %.

🎯 Adani Enterprises :
Company to be in focus as it reconsiders the mine plan for its Carmichael coal project in Queensland to allow production with a much lower initial capital investment.
Positive for the stock. 👍

🎯 Eicher Motors :
Company reported production loss of 25,000 units of motorcycle in September and October.

🎯 MLL :
ONGC clarified that it has terminated oil rig contract with Mercator on Oct. 10.
Negative for the stock.

🎯 Fortis :
The Competition Commission of India approved acquisition of the company and Fortis Malar Hospital by Northen TK Venture.

🎯 Shriram EPC :
Company bagged order worth Rs.236 crore from Drinking Water and Sanitization Department of Jharkhand Government.

🎯 Lemon Tree Hotels :
Company signs license agreement for 27 room city hotel in Bhutan, will be operational by March, 2019.

🎯 VA Tech Wabag :
Company secured Rs.1,000 crore order for engineering, design and build contract towards the expansion of sewage water treatment plant from the Middle East.

🎯 Aviation stocks :
IOCL raises jet fuel prices by 5.2% compared to last prices.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers