31st October, 2018 Morning Brief

A negative to flat opening expected today.

The market has seen consolidation on Tuesday after a day of massive rally on Monday and ended with a fall of around half a percent.

US markets and Asian markets were up firmly with more than a percent.

Nifty50 has to sustain above 10350 decisively to head up towards 10500 level.

🎯 News & Impact 🎯

Major Results Today :
L & T, Tata Motors, Vedanta, Adani Enterprises, Canara Bank, Dabur, Lupin, United Spirits.

Results Updates :

🎯 Tech Mahindra
Revenue up 4 % at Rs.8,630 crore.
Net profit up 18 % at Rs.1,064 crore.
EBIT up 23 % to Rs.1,325 crore.
Margin at 15.3 % versus 13.0 %.
Dollar revenue down 0.5 % at $1218 million.

🎯 Pidilite :
Revenue up 14.9 % at Rs.1,757.4 crore.
Net profit down 8.1 % at Rs.231.6 crore.
Margin at 20.8 % versus 24.6 %.

🎯 IRB :
Revenue up 19.5 % at Rs.1,432.3 crore.
Net profit down 26.3 % at Rs.172.9 crore.

🎯 Torrent Power :
Revenue up 18.4 % at Rs.3,444.5 crore.
Net profit up 29.7 % at Rs.412.2 crore.

🎯 Bank of Baroda :
Net interest income up 20.7 % at Rs. 4,492.5 crore.
Net profit up 19.7 % at Rs.425.4 crore.
Provisions for NPA at Rs.1,466.6 crore versus Rs.1,759.7 crore (QoQ).
GNPA at 11.78 % versus 12.46 % (QoQ).

🎯 Dr. Reddy’s Laboratories :
Company received Form-483 with eight observations by the U.S. FDA at the Vishakapatnam facility.
Cautious on stock.

🎯 Coal India :
Government said it will sell three percent stake in Coal India with an over subscription option of selling additional six percent stake as offer for sale to public.

🎯 Tata Steel :
Thyssenkrupp AG and Tata Steel plans to set up a European steel company with equal shares of ownership.

🎯 Garden Reach Shipbuilders & Engineers :
Company entered into contract with Ministry of Defence for construction and delivery of four survey vessels for Rs. 2,435.2 crore. 

🎯 GMR Infra :
GMR Infrastructure arm acquired 100 % stake in Menzies Aviation Cargo for Rs. 59.8 crore.

🎯 Indiabulls Real Estate :
Company’s wholly-owned subsidiary entered into definitive agreement to acquire a land parcel of 140 acre for development of integrated township and commercial building in Gurugram.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers