21st December, 2018 Morning Brief

Market will open on a negative note followed by US and Asian markets.

U.S. stocks fell for a second day after the Federal Reserve raised benchmark interest rates and said that it would continue to let its massive balance sheet shrink at the current pace.

Nifty formed a bullish candle on the daily chart yesterday and recovered almost all the losses to end with a point of loss. Nifty didn't break its support level of 10870 mentioned in yesterday's blog and took the support at 10880 and closed at 10951.7. In order to achieve it's near target of 11090, Nifty50 has to trade above 10850 - 10870 level zone.

🎯 News & Impact 🎯

🎯 Bharti Infratel :
Bharti Airtel’s board approved sale of up to 59.12 crore equity shares, representing 32 percent stake of Bharti Infratel owned by the company to its arm Nettle Infrastructure Investments. 

🎯 NHPC :
Company said 520 MW power station in Himachal Pradesh would be under complete shutdown from three months with effect from Dec. 20.

🎯 Bosch :
Company said it will would close Karnataka’s Bidadi Plant from Dec. 28-29 due to reduction in volumes seen.

🎯 Entertainment Network (India) :
Company said due to a fire breakout at Common Transmission Infrastructure at Mumbai, terrestrial broadcasting has been disrupted at the company’s Mumbai radio station and other private broadcasters in Mumbai.

🎯 Coal India :
Company declared dividend of Rs.7.25 per share.

🎯 Indian Hume Pipe :
Company received letter of acceptance for constructions of drinking water supply projects worth Rs 502.89 crore in Andhra Pradesh.

🎯 Indiabulls Real Estate :
Company entered into an agreement with Blackstone to divest up to 50 percent stake in two office assets in Gurugram at aggregate value of Rs.464 crore.

🎯 HT Media’s :
Company board approved to acquire 25 % stake in Next Mediaworks’ promoters for Rs.45.15 crore and to additionally acquire 26 percent stake, by triggering an open offer.

🎯 JSW Steel :
Company said it would infuse Rs.63.5 crore in Vardhaman Industries to pay the creditors as per the Resolution Plan by NCLT.

🎯 Escorts Group :
Company increased its stake in Optunia Power Infrastructure from 49 % to 99 %.

🎯 Mercator :
Company sold vessel for $7.6 million and said that proceeds of this sale would be used to reduce debt and liabilities.

🎯 Time Technoplast :
Company received power cable-ducts orders worth Rs.150 crore from various EPC Contractors.

🎯 HCL Technologies :
Company partnered with Israel based Cloudify to bring 5G network solutions to telecom providers.

🎯 Infibeam Avenues :
Company and IBM India executed agreement to develop, implement and promote blockchain applications to Indian clients on Linux platform.

Edited by Sharp.