19th February, 2019 Morning Brief

Market will open on a negative note in continuation with yesterday's slide.

Asian markets are trading positively with a marginal gains.

Market continued it's slide for eighth day in a row. Nifty50 has made a bearish engulfing look a like candle on the daily chart yesterday. It is interesting to see whether 10580-10600 zone can give support to the continuous slide or not in coming sessions. Rise in crude oil prices, tensions on the North West border, geopolitical pressure on the Govt are the factors which are affecting the investment atmosphere.

🎯 News & Impact 🎯

Major Results Updates :

🎯 Ambuja Cement (Q4 CY18, YoY) : Revenue up 5.5 % to Rs.2,863.3 crore.
Net profit up 58.8 % to Rs.537.4 crore.
Margin at 14.1 % versus 19.9 %.
Other income up 77 % to Rs.85 crore.

🎯 TFCI :
Kotak Mahindra Investments has acquired control of 80,716,748 equity shares of company constituting 6.91% of the issued equity share capital.
Positive for the stock. 👍

🎯 NLC, NHPC :
NLC signed an MoU with NHPC on power trading. With this agreement, both power generating public sector undertakings will offer surplus power available in northern and north-east region to the bulk consumers in southern region at an affordable tariff, as stated in the company’s press release.

🎯 Emami :
Emami promoters sold 10 percent stake in Emami Ltd. for around Rs 1,600 crore to pare debt. 
Negative for the stock.

🎯 Cipla :
Cipla’s arm said it will acquire 11.7 percent stake in Wellthy Therapeutics for Rs.10.5 crore. 

🎯 Grasim
Grasim Industries said it will acquire Chlor-Alkali business of KPR Industries for Rs.253 crore. 

🎯 Tata Steel :
Company arm entered into an agreement with IMR Asia Holdings to divest its entire stake in Black Ginger.

🎯 Future Consumer :
Company entered into an arrangement with UAE-based T Choithrams & Sons. 

🎯 DHFL :
company had received a notice from the tax department seeking evidence on certain aspects of books of accounts. 

🎯 Wipro :
Company launched its cloud solution platform for the organisations to migrate into Oracle Cloud.

🎯 Jindal Stainless :
Jindal Stainless sets up arm in Chennai to supply stainless steel components to Integral Coach Factory.

🎯 Cyient :
Company launched digital service solutions for original equipment manufacturers and equipment owners and operators.

🎯 Suditi Industries :
Company executed the license contract with PSG Merchandising, a French simplified limited liability company.

🎯 Gokaldas Exports :
Company entered into a Memorandum of Understanding with Government of Karnataka for setting up apparel manufacturing units over a period of next five years in Ballary district involving an investment of approximate up to Rs.80 crore.

🎯 Hotel Leela :
Rockfort Estate to buy 1 percent stake in company from Leela Lace via inter-se transfer. Rockfort Estate & Leela Lace are promoters of company.

Edited by Sharp.