23rd January, 2019 Morning Brief

Market may open on a flat note after a negative closing on yesterday.

Rising pessimism that trade tensions with China will persist helped send technology and multinational companies tumbling in US. Market collapsed.

Nifty50 has given a negative closing but took a support over 10850 and closed above 10900 mark. Again it didn't come out of consolidation as it didn't breach 10820 or 11000 either side on a broader view.

🎯 News & Impact 🎯

Major Results Today :

ITC, INFRATEL

Major Results Updates :

🎯 ICICI Pru Life Insurance (Q3, YoY)
Net premium income up 27 % at Rs 7,483 crore.
Net profit down 34 % at Rs.296.8 crore.
AUM up 8.44 % at Rs.1.49 lakh crore.
New business premium up 18.6 % at Rs. 910 crore.

🎯 HDFC Standard Life Insurance (Q3, YoY)
Net Premium Income up 27 % at Rs. 6,897.7 crore.
Net profit up 18.5 % at Rs. 245.6 crore.
AUM up 13 % at Rs.1.17 lakh crore.
New business premium up 41 % at Rs. 9,940 crore.

🎯 Reliance :
Reliance Industries received Competition Commission of India’s nod for acquisition of stake in Den Networks and Hathway.

🎯 Infosys :
Company's arm EdgeVerve Systems launched an automation tool for enterprises.

🎯 Cyient :
Company said it was increasing its stake in its arm ‘Cyient DLM’ from 74 to 100 for a consideration of Rs. 42.5 crore.

🎯 VA Tech Wabag :
Company secured desalinisation order worth Rs.467 crore from Mangalore Refinery and Petrochem towards construction of a 30 MLD Sea Water Desalination plant expandable up to 70 MLD in Karnataka.

🎯 IL&FS Engineering :
Jharkhand Bijli Vitran Nigam cancelled contract with IL&FS Engineering & Construction Company over electrification works projects citing slow progress and failure of the project in Jharkhand.
Negative for the stock.

🎯 IRB Infra :
Developers arm’s HAM project received appointed date from NHAI for Vadodara-Mumbai Expressway, with cash outlay of Rs.2043 crore.

🎯 Walchandnagar Industries :
Company entered into an agreement with ISRO to manufacture component for the Polar Satellite Launch Vehicle Program for Rs 96 crore ( with an escalation clause) for the next three years.

🎯 Vivimed Labs :
Price band revised to 10 %.

Edited by Sharp.