20th February, 2019 Morning Brief

Market may open with a gap up today backed by strong Asian markets.

Walmart boosted investor sentiment and high-level US-China trade talks resumed in Washington.

The Indian market fell for the eighth consecutive session on February 19, the longest losing streak since July 2013. Market opened on a positive note yesterday and bulls had taken a grip till last hour but the sentiment was dented by Pakistan Prime Minister Imran Khan's comments that the country will retaliate if India launches military strikes in the aftermath of the Pulwama terror attack.

As discussed yesterday, Nifty50 has taken support above it's crucial support 10580 and guard the 10600 level on closing basis. Yesterday's low could be considered as a support for today's session as everybody is seeking for a bounce back.

🎯 News & Impact 🎯

🎯 Dr. Reddy :
The U.S. Supreme Court Chief Justice John Roberts rejected Indivior’s bid to protect Suboxone film, the company’s treatment for opioid addiction. The court also refused to block Dr. Reddy’s Laboratories and others from selling generic versions of Suboxone film.
Positive for the stock. 👍

🎯 Coal India, Vedanta : 
CCEA approved the methodology for allowing the allocation of coal mines for specified end-use or own consumption, to 25 percent of actual production on run of mine basis in open market with payment of additional premium on such sale.

🎯 Redington India, MIRC Electronics, Dixon Technologies, Shivalik Bimetal Controls : 
Cabinet approved National Electronic Policy. IT Minister Ravi Shankar Prasad stated that the aim is to target $400 billion by 2025 in electronic manufacturing.
Positive for the stocks. 👍

🎯 TATA Power, Torrent Power :
Cabinet approved rooftop solar generation phase II to add 40,000 MW of solar power by 2022.
Positive for the stocks. 👍

🎯 Majesco :
Company arm received a contract for digital solutions from American Public Life Insurance Company.

🎯 Prism Johnson :
Company issued letter of intent for an EPC contract to set up a 22 MW power generation system in Madhya Pradesh. 

🎯 Duke Offshore :
The company received a prestigious contract from Daewoo - Tata projects Limited JV to provide one initial high speed vessel to support construction for the Mumbei Trans Harbour Link project.

🎯 Ramco Cements :
Green Products and Services Council of Confederation of Indian Industry has renewed the GreenPro Certification for our Company's flagship product - RAMCO SUPERGRADE.

🎯 Aarti Industries :
Company collaborates with Global Chemical Conglomerate to develop and supply High Value Specialty Chemical Intermediate worth USD 125 million for a 10 year supply period.

🎯 Bajaj Healthcare :
Board approved issue of bonus shares in the ratio of 1:1.

🎯 Engineers India :
ICICI Prudential Mutual Fund bought 33,08,000 shares of the company at Rs 107.63 per share.

🎯 NALCO :
ICICI Prudential Mutual Fund bought 94,45,000 shares of the company at Rs 50.09 per share.

🎯 Music Broadcast :
Ex-date for share split from Rs.10 to Rs.2 per share.

Edited by Sharp.