5 Oct 2018 Morning Brief

Another gap-down opening expected on the Dalal Street. Market may trade cautiously ahead of RBI policy which will be announced in the later half of the day.

SGX Nifty is trading down by 50 points in the morning trade.

US markets slipped as US treasury yields continued to rise.

RBI policy has an important role to play this time in addition to act just for inflation and interest rates but to take action to control falling Rupee and to work of fear of liquidity crisis of financial institutions. A 25 basis point rate hike was already priced in whereas 0.50 % rate hike will not be a surprise in today's situations. But definitely it will impact on the market.

It will be interesting to see whether Nifty50 is taking support at 10550 level or not on a closing basis.

🎯 News & Impact 🎯

🎯 IOC, BPCL, Hind Petro :

OMCs will be under pressure because of Govt. 's decision to bear a rupee per litre in petrol and diesel. 

🎯 Cadilla Healthcare: 

Company's biologics managing facility at Ahmedabad received an establishment inspection report from the U.S. FDA. The audit was completed with zero form 483 observations.

🎯 Lupin :

Company launched generic potassium chloride oral solutions, after the company received an approval from the U.S.FDA earlier.

🎯 Dixon Technologies :

Company commenced manufacturing of Mi LED TVs for Xiaomi. The manufacturing will take place in Andhra Pradesh facility of the company.

🎯 Dilip Buildcon :

Company received a letter of acceptance for an EPC project for a dam in Rajasthan for Rs 601 crore. The order was given by the Water Resource Department of Kota.

🎯 TVS Motor : 

Company launched TVS Jupiter Grande scooter for the festive season.

🎯 Jai Prakash Power said ICICI Bank has filed an application initiating corporate insolvency process against the company.

🎯 Jet Airways: ICRA downgraded long term rating to ‘B’ from ‘BB’. 

🎯 LIC made an open offer for 26 percent stake in IDBI Bank at Rs 61.73 per share.

🎯 Jet Airways gets Rs 258 Crore from JetPrivilege for advance ticket sale, according to a PTI report.