1st March, 2019 Morning Brief

Market will open on a flat note today.

Asian markets are trading up.

US markets ended lower as they concerned about earnings and US-China trade relations.

Weak global cues weighed on the market sentiment, but hope of unlikely escalation of geopolitical tensions between India and Pakistan limited downside. Nifty50 formed a bearish candle which resembles a 'Bearish Belt Hold' kind of pattern on the daily charts. Nifty50 can be braced broadly between 11100 and 10600. Any side breakthrough can give a decisive movement thereon.

India's eight core industries -- coal, steel, natural gas, cement, crude oil, fertilisers, refinery products and electricity -- grew at 1.8 percent in January versus 2.6 percent month-on-month (MoM).

🎯 News & Impact 🎯

🎯 Bharti Airtel :
Board approved raising Rs.32,000—Rs.25,000 crore via a rights issue and rest through perpetual bonds—with the rights issue price set at Rs.220 per share.

🎯 Jet Airways :
Founder Naresh Goyal agreed to step down as chairman. 
Positive for the stock. 👍

🎯 Vodafone Idea :
Cabinet approved FDI proposal of up to Rs 25,000 crore.
Positive for the stock. 👍

🎯 Sugar Sector :
Government approved Rs 10,540 crore soft loan to help sugar mills clear cane arrears.
Positive for sugar stocks.

🎯 Orissa Minerals Development Company :
Company said it will pay Rs.400 crore as a penalty to Odisha Government.
Negative for the stock.

🎯 HDFC Bank :
The bank acquired 9.1 % stake in CSC E-Governance Services for Rs.14.62 crore.

🎯 Motherson Sumi :
Company arm signed agreement with the U.K.-based Bombardier Transportation to acquire the latter’s assets in connection with production and installation of electrical components and systems for applications in the rail industry.

🎯 Vedanta :
Company's Zinc mine in South Africa officially opened. The project was given a go-ahead in 2014 and Gamsberg Reserve, South Africa Mine has reserve of 214 MT and estimated life of 30+ years.

🎯 Hathway Cable :
RIL group entities, promoters, acquired 20.61 % stake from public in open offer.
Positive for the stock. 👍

🎯 Zydus Wellness :
Promoter pledged 6.3 % stake with Kotak Mahindra Investment.
Negative for the stock.

🎯 Emami :
Promoters pare share pledge to 40 % from 47.5 %. 
Positive for the stock. 👍

Edited by Sharp.