29th October, 2018 Morning Brief

Market will open on a positive note today. Asian stocks edged higher with U.S. stock futures, indicating some respite from the recent global sell-off at the start of the week.

A large bearish candle was formed on the daily chart on Friday. Nifty is near to its bottom as Nifty50 has touched almost 10000 mark and it has support around 9950 - 10000 zone. Anytime we can see a pull-up rally upto 10130-10250 to 10350 levels.

A rout in technology shares deepened Friday, threatening to push the S&P 500 Index into corrective territory along with the Nasdaq Composite Index.

🎯 News & Impact 🎯

Major Results Today :
BPCL, HDFC AMC, Tata Power, Colgate, LIC Hsg Fin

Results Updates :

🎯 ICICI Bank :
NII up 12.4 % at Rs.6,418 crore.
Net Profit of Rs. 909 crore versus Rs. 2,058 crore.
Total Provisions at Rs. 3,994 crore versus Rs. 5,971 Cr (QoQ).GNPA (as percent of gross advances) at 9.30 % versus 9.65 % QoQ.

🎯 Nestlé :
Revenue up 17 % at Rs.2939 crore.
Net profit up 30 % at Rs.446 crore.
Ebitda up 24 % at Rs.724.5 crore.
Margin at 24.7 % versus 23.2 %.

🎯 Divis's Lab :
Revenue up 44 % at Rs.1,285 crore.
Net profit up 92 % at Rs.398 crore.
Ebitda up 85 % at Rs.514 crore.
Margin at 40 % versus 31 %.

🎯 Axis Bank to sell 19.79 lakh shares or 4.95 % equity in NSDL to HDFC Bank for Rs.163.34 crore.

🎯 Cox & Kings :
Company to sell HB Education, wholly owned subsidiary to U.K. based Midlothian Capital Partner for and enterprise value of £467 million, i.e., Rs. 4,380 crore.

🎯 Dr. Lal Path Labs :
Company received NCLT, New Delhi bench’s approval for merger of Delta Ria and Pathology with self.

🎯 Peninsula :
Peninsula Land to acquire 71 % stake in RR Mega City Builders for Rs.5.04 crore.

🎯 Dishmam :
The U.S. FDA completed inspection of Dishmam Carbogen Amcis’s Bavla facility without any major or critical observations.

🎯 Birla Corporation :
Company’s wholly owned subsidiary approved the 1.2 MTPA cement capacity expansion plan. 

🎯 India Cements :
Company to acquire Springway Mining Pvt. Ltd. for Rs 183 crore with an objective of setting up of a cement plant in Madhya Pradesh.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers