25 October, 2018 Morning Brief

Negative opening expected today amid  weak global cues.

A volatile session ended with a positive note yesterday. Nifty50 has made a hammer pattern on the daily chart.

The disappointing forecasts from tech companies and weak home sales data fueled jitters about economic and profit growth in US markets which lead to a heavy correction in a day which wiped out yearly gains. Along with the worries about rising borrowing costs made Asian markets nervous.

🎯 News & Impact 🎯

Major Results Today :

Maruti, Yes Bank, Bharti Airtel, JSW Steel, BHEL, Biocon.

Results Updates :

🎯 Wipro :
Revenue up 2.4 % at Rs.14568 crore.
Net profit down 9.9 % at Rs.1886 crore.

🎯 IndiGo :
Revenue up 17 % at Rs.6185 crore.
Net loss of Rs. 652 crore versus Net profit of Rs.552 crore.

🎯 Bharti Infratel :
Profit falls to Rs.599.8 crore versus Rs. 638 crore;
Revenue slips to Rs. 3,668.3 crore versus Rs.3,673.5 crore QoQ.

🎯 Ibrealest :
Profit jumps to Rs.75.92 crore versus Rs. 61.64 crore;
Revenue surges to Rs.1,040.42 crore versus Rs. 470.77 crore YoY.

🎯 IDFC Bank :
Loss Rs 369.7 crore versus profit at Rs. 233.66 crore;
Net interest income falls to Rs.451.2 crore versus Rs. 461.88 crore YoY.

🎯 L&T Infotech :
Profit jumps to Rs.400.1 crore versus Rs. 272.6 crore;
Revenue increases to Rs.2,331.2 crore versus Rs. 2,155.7 crore QoQ.

🎯 IL&FS :
Company has failed to pay interest on non-convertible debentures.
Negative for the stock.

🎯 KPIT Tech :
Company will be tech partner for BMW’s autonomous driving project.

🎯 Dynemic Products :
Company stopped work at Ankleshwar unit after receiving notice from Gujarat Pollution Control Board.

🎯 Schaeffler India :
Company successfully completed its merger of INA Bearings India Pvt. Ltd. and LuK India Pvt. Ltd. Combined entity will rake in revenue of over Rs.4,100 crore.

🎯 Tata Chemicals :
Company signed an MOU with CSIR-Central Electrochemical Research Institute, Karaikudi to scale up manufacturing of cathode materials for Lithium-ion cells.

🎯 Kilitch Drugs (India) :
Company set to boost its expansion plans in Africa with its first manufacturing plant in Addis Ababa, the capital city of Ethopia.

Edited by Sharp.
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