25th February, 2019 Morning Brief

Market will open on a positive note in line with Asian markets.

Asian share markets looked well set on Monday after US President Donald Trump confirmed he would delay a planned increase on Chinese imports as talks between the two sides were making “substantial progress”.

🎯 News & Impact 🎯

🎯 Realty :
Goods and Services Tax Council approved lowering the tax rate on under-construction properties to 5 percent without input tax credit, from 12 percent earlier, while the affordable housing projects will attract 1 percent tax as against 8 percent earlier.
Positive for the sector. 👍

🎯 NTPC :
Company arm’s 250MW thermal power project in Bihar started its operations with effect from Feb. 20.

🎯 Spicejet :
Company received an IATA operational safety audit certification.

🎯 GVK Power and Infra :
GVK to acquire 13.5 % stake of Mumbai International Airport Ltd. (MIAL) from Bidvest for Rs 1,247.4 crore. 

🎯 IFB Agro Industries : 
Company’s wholly owned subsidiary to carry the business of distribution of seafoods products in the local markets of UAE.

🎯 Adani Ports and SEZ :
Company to acquire Adani Agri Logistics Ltd. from Adani Enterprises Ltd. for a cash consideration of Rs.946 crore. 

🎯 Motilal Oswal, IIFL Holdings :
SEBI declares commodity arms of Motilal Oswal, IIFL 'not fit and proper'.
Cautious over stocks.

🎯 Tata Metalics :
Company board meeting will be held on February 27, 2019 to consider, a proposal for raising of funds

🎯 NTPC : Nabinagar Thermal Power Project has been declared running commercial operation.

🎯 Sharon Bio :
API facility located at Taloja, Maharashtra received 4 Form 483 observations after the inspection completed by USFDA.

🎯 Mold Tek Packaging :
Company inaugurates 9th Manufacturing Plant at Pudi (Vizag).

🎯 Hubtown :
Company divested and transferred its entire holding of 4,720 equity shares in its subsidiary Heet Builders.

🎯 India Motor Parts :
Company sales 2.68% stake (1,20,52,112 equity shares) in Royal Sundaram General Insurance to Ageas Insurance International N.V.

🎯 City Union Bank :
inaugurated 4 new branches in Tamil Nadu.

🎯 Adani Green Energy :
Company awarded 150 MWac solar power project to its wholly-owned subsidiaries.

🎯 Lux Industries :
Company incorporated subsidiary Altai Industries Private Limited.
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Edited by Sharp