11th February 2019, Morning Brief

Market will open on a flat note today after a sell-off on Friday.

Asian stocks began the week on a cautious note as doubts on the possibility for progress ahead of a potentially pivotal week for U.S.-China trade talks crept back into markets.

🎯 News & Impact 🎯

Major Result Today :
Eicher Motors.

Results Updates :

🎯 Tata Steel (Q3, YoY) :
Revenue up 23.2 % to Rs.41,219.9 crore.
Net profit up 76.5 % to Rs.2,284.1 crore.
Ebitda up 18 % to Rs.6,723.4 crore.
Margin at 16.3 % Vs 17.03 %.
Positive for the stock. 👍

🎯 Sun TV Network (Q3, YoY) :
Revenue up 32.4 % to Rs 904.5 crore.
Net profit up 31.6 % to Rs.351.3 crore.
Positive for the stock. 👍

🎯 Apollo Hospitals (Q3, FY19) :
Revenue up 17 % to Rs.2,169 crore.
Net profit up 29 % to Rs.86.9 crore.
Positive for the stock. 👍

🎯 BPCL (Q3, YoY) :
Revenue up 9.5 % to Rs.79,168.9 crore.
Net profit down 59.4 % to Rs.495.1 crore.

🎯 NALCO (Q3, YoY) :
Revenue up 13.81 % to Rs.2,719 crore.
Net profit down 58.2 % to Rs.301.8 crore.
Ebitda up 49.2 % to Rs.513.1 crore.
Margin at 18.9 % vs 14.4 %.

🎯 Thermax (Q3, YoY) :
Revenue up 28.6 % to Rs.1,436.6 crore.
Net profit up 28 % to Rs.75 crore.

🎯

🎯 Dr. Reddy’s Laboratories :
Received a Form 483 with 11 observations from the U.S. FDA after the inspection of Formulations Manufacturing Plant in Hyderabad.
Cautious over the stock. ⚠

🎯 Lupin :
Company received two observations from the U.S. FDA after the inspection of Goa manufacturing facility. 
Cautious over the stock. ⚠

🎯 Cipla :
Company said that its subsidiary InvaGen Pharmaceuticals Inc has completed the first tranche of 33.3 percent stake buy in U.S.-based speciality business firm Avenue Therapeutics.

🎯 Bharti Airtel :
Company's Kenya arm signed an agreement with Telkom Kenya to combine operations and will be called ‘Airtel-Telkom’. Both companies will merge their mobile, enterprise and carrier services. 

🎯 Reliance : 
Reliance Brands increased its stake in Future 101 Design to 15 % for Rs.2 crore. The company also stated that its arm Reliance Retail Ventures increased its stake in Genesis Colours to 29.07 % for Rs.45 crore.

🎯 Prakash Industries :
Company said that it has modernised its Rolling Mill in Chattisgarh to improve the production of wire rods. 

🎯 Allahabad Bank, Punjab National Bank, Corporation Bank :
RBI Imposed a penalty of Rs.1.5 crore on Allahabad Bank and Rs.1 crore on Punjab National Bank due to regulation issues and on Corporation Bank of Rs.2 crore  for  lapses in monitoring of end use of funds and exchange of information with other banks.

🎯 KEC International :
Company has completed its entire stake sale in ‘KEC Bikaner Sikar Transmission’ to Adani Transmission, after obtaining regulatory approvals.

🎯 Adani Transmission :
Company completed acquisition of KEC International’s project for Rs 228 crore.

🎯 Voltas :
Company to invest over Rs.500 crore in setting up a manufacturing facility in South India. 

🎯 Engineers India :
Company to provide project management consultancy services to Mongol Refinery for setting up of an oil refinery in Mongolia.

🎯 IDFC :
Company to sell stake in IDFC Securities to TCG in one or more tranches over a period of time. Yet to sign definitive agreement.

Edited by Sharp.