14th February, 2019 Morning Brief

Market may continue yesterday's slide as it will open on a negative note today.

US markets ended up on US President Donald Trump's statement on Wednesday that trade talks with China were “going along very well” as the world’s two largest economies try to resolve their seven-month tariff war ahead of a March 1 deadline for a deal. Asian markets trading cautiously in the morning trade.

Market gave up early gains to end up in negative territory to plot a long bearish candle on the daily chart.

🎯 News & Impact 🎯

Major Results Today :
ONGC, Ashok Leyland, Jet Airways, Indiabulls Real Estate, Voltas

Results Updates :

🎯 Reliance Capital Q3 :
Profit at Rs. 89 crore versus loss of Rs.603 crore;
Revenue falls to Rs.568 crore versus Rs. 639 crore YoY.
Positive for the stock. 👍

🎯 Oracle Fin Services Q3 :
Cons net profit up 5.7% at Rs.306 cr vs Rs 289.6 cr (YoY).
Positive for the stock. 👍

🎯 Godrej Industries Q3 :
Profit spikes to Rs.121 crore versus Rs. 50 crore;
Revenue rises to Rs. 2,473 crore versus Rs. 2,100 crore YoY.

🎯 EID Parry, Balrampur Chini, Dhampur Sugar :
Government may raise minimum selling price of a sugar by as much as 10 percent from Rs 29 per kg to Rs 32 per kg, a government official said.
Positive for the sugar stocks. 👍

🎯 Ludlow Jute & Specialities, Cheviot :
Cabinet approved raising MSP for raw jute by Rs 250 per quintal, or 6.75 percent, to Rs 3,950 per quintal for 2019-20.

🎯 Trident :
Company has been granted a patent for Air Rich Yarn and Fabric and its method of manufacturing by United States Patent & Trademark office.

🎯 Tata Power :
Company collaborates with AES and Mitsubishi Corporation to power up South Asia's largest grid-scale energy storage system in India.

🎯 ABB India :
Company approved the segregation of company’s power grid business from the company’s other businesses.

🎯 HIL :
Company said that the company commenced the second phase production of its soil, waste and rain pipes and fittings at its Gujarat plant. 

🎯 PSP Projects :
Company emerged as the lowest bidder for two construction projects in Rajasthan and Gujarat with a cumulative contract value of Rs.415.2 crores.

🎯 Pidilite Industries :
Company's global arm set up a join venture in Kenya with Crown Classic. The Global arm will hold 55 percent of the stake in the JV, while the remaining stake will be held by Crown Classics.

🎯 Zee News :
IFCI sold 30,00,000 shares of the company at Rs.14.07 per share on the NSE.

Edited by Sharp.