28th January, 2019 Morning Brief

Market may open on a positive but with a cautious note after heavy selling witnessed in the last session.

U.S. stocks rose as corporate earnings on the Friday. Asian markets trading mixed today morning.

Nifty50 has breached the short term up- trend as it has given closing below 10820 but it has hopes to take the support at medium term up- trend level which falls somewhere around 10690-10710. It's value will raise gradually with the day's on x axis.

🎯 News & Impact 🎯

Results Updates :

🎯 L&T (Q3, YoY) :
Revenue up 24 % at Rs.35,709 crore.
Net profit up 37 % at Rs.2,042 crore.
Ebitda up 27 % at Rs.3,997 crore.

🎯 Mahindra & Mahindra Financial Services (Q3, YoY) :
Net Interest Income up 20.1 % at Rs.1,204 crore.
Net profit down 19.6 % at Rs.318.7 crore.
GNPA at 7.7 % versus 9 % (QoQ).
Positive for the stock. 👍

🎯 Saregama (Q3, YoY) :
Revenue up 60.7 % at Rs 150.6 crore.
Net profit up 9.5 times at Rs.12.3 crore.
Ebitda up 4.2 times at Rs.19.3 crore.
Positive for the stock. 👍

🎯 V2 Retail (Q3, YoY) :
Revenue up 58.2 % at Rs.241.1 crore.
Net profit up 72.3 % at Rs.23.6 crore.
Ebitda up 34.2 percent at Rs.30.6 crore.
Positive for the stock. 👍

🎯 Lupin :
The U.S. FDA completed inspection of Lupin’s Pithampur with six observations. The company said it was confident of addressing the observations satisfactorily.

🎯 Zee Entertainment :
Subhash Chandra's Open Letter: "At Essel Infra, we have made some incorrect bid and bled Rs 4,000–5,000 crore. Decision to buy D2H has cost me & my brother Jawahar a fortune. Situation became further unmanageable after the IL&FS issue came to public light. I have given my best to expedite the stake sale of Zee Entertainment."

🎯 Emami :
Company entered into an agreement for acquisition of ‘Crème 21’ for around 100 crores.

🎯 SpiceJet :
Company received nod for turbo aviation seaplane proposals. 

🎯 Entertainment Network :
Company's U.S arm to start operations commercially from Jan. 26 in New York and New Jersey. 

🎯 McNally Bharat Engineering :
Company received construction order worth Rs.72.6 crores from ESR Warehousing.

🎯 NBCC :
Company received order worth Rs.228 crore for redevelopment of WHO building in New Delhi.

🎯 Soril Infra :
Company acquired Littleman Fiscal Services Private Limited, a non-banking finance company registered with RBI, to foray into financial services business with the primary focus on financing in rural markets.

🎯 Bharat Road Network :
95,20,000 equity shares of the company (constituting 11.34 % shareholding) are acquired by SREI Infrastructure Finance pursuant to pledge invocation.

🎯 Ducon Infratech :
Company will expand its IT business segment into mobile App market.

Edited by Sharp.