13th February, 2019 Morning Brief

Market will open with a gap-up supported by IIP data released and strong global markets.

Yesterday market kicked start on a lacklustre note and trade with a narrow range with a pessimism ahead of Industrial Production and CPI data to be released after market hours. But In the second half of the trading session, the key indices extended their losses to close near their intraday low to end up in negative zone for third consecutive session, despite positive cues from global markets and a INR appreciation against the US$.

Wall Street rallied on Tuesday as investors were heartened by a tentative congressional spending deal to avoid another partial federal government shutdown and by optimism surrounding US-China trade negotiations.

Nifty50 has plotted another bearish candle on the daily chart but today it may give a bounce back if it sustains above yesterday's high of 10910.  Immediate support seems at 10800-10810 zone.

🎯 News & Impact 🎯

Results Updates :

🎯 Sun Pharma (Q3, YoY) :
Revenue up 16.3 % to Rs.7,740.2 crore.
Net profit up 3.9 times to Rs.1,241.9 crore.
Ebitda up 48.1 % to Rs.2,153 crore.
Margin at 27.8 % versus 21.8 %.
Positive for the stock. 👍

🎯 Coal India (Q3, YoY) :
Revenue up 15.4 % to Rs.25,045.8 crore.
Net profit up 50.1 % to Rs.4,566.7 crore.
Ebitda up 55 % to Rs.6,787.8 crore.
Margin at 27.1 % versus 20.2 %.
Positive for the stock. 👍

🎯 Bata India (Q3, YoY) :
Revenue up 15.5 % to Rs.778.7 crore.
Net profit up 51.5 % to Rs.103.2 crore.

🎯 Oil India (Q3, QoQ) :
Revenue down 6.1 % to Rs.3,514 crore.
Net profit up 43.1 % to Rs.1,233.5 crore.

🎯 Indian Hotels (Q3, YoY) :
Revenue up 10.5 % to Rs.1,323.5 crore.
Net profit up 50 % to Rs.161.8 crore.

🎯 Alembic Pharma :
Company’s arm received ANDA approval from the U.S. FDA for Fenofibrate Tablets which are used for treating cardiovascular diseases.

🎯 Oriental Bank of Commerce, Allahabad Bank, Bank of Maharashtra, Indian Overseas Bank, Andhra Bank :
The Reserve Bank of India imposed a penalty on Oriental Bank of Commerce, Allahabad Bank, Bank of Maharashtra and Indian Overseas Bank for not monitoring end use of funds. While they have to pay the central lender Rs.1.5 crore, Andhra Bank has been fined Rs.1 crore.

🎯 Rico Auto Industries :
Company board approved acquisition of Magna Rico Powertrain (a joint venture company), which will then become wholly owned arm of the company.

🎯 Tata Power :
Company's solar arm launched residential rooftop solution in Chandigarh.

🎯 Transport Corporation of India : Company finalised the agreement to hive off its cold chain unit into TCI Cold Chain Solutions for a consideration of Rs 63.6 crore.

🎯 Zenith Birla India :
Company entered in to one time settlement with Invent Assets Securitisation & Reconstruction Pvt. Ltd (loan assigned by State Bank of India) against the credit facilities availed by the company.

Edited by Sharp.