14 Mar, 2019 Morning Brief

Market will open on a positive note today backed by positiveness in US and Asian markets today.

US stocks rose on Wednesday, led by gains in healthcare shares, and Boeing edged upward even as the United States joined other nations in grounding the company’s 737 MAX jets.

A volatile session ended with a gain of 41 points to a six month high with a 'Hanging Man' kind of formation pattern on the daily charts. Nifty closed at this level after 17 September 2018. It shows some profit booking can be witnessed on the higher levels. 10440 - 10510 level zone can be the immediate resistance on the horizon.

🎯 News & Impact 🎯

🎯 Lupin :
The U.S. FDA classified inspection of Lupin’s Mandeep facility as Official Action Indicated. The regulatory authority stated that the pharma company will be subjected to regulatory action and it may withhold approval of any pending applications in which the facility is listed.
Negative for the stock.

🎯 Jubilant Foodworks :
Company promoter Jubilant Consumer Private Limited to sell 40 lakh shares at the floor price of Rs. 1,272.6 apiece, aggregating to Rs.503.8 crore via secondary placement.
Negative for the stock.

🎯 Reliance Industries :
Company said its U.S. unit halted all supplies of Diluent to Venezuala’s PDVSA and has not increased any oil purchases from the Venezualan company.

🎯 HCL Technologies :
Company said it will acquire U.S. based company ‘Strong—Bridge Envision’ for increasing the company’s digital solutions portfolio.

🎯 Sun Pharma :
Subsidiary increased its stake in PJSC Biosintez, Russia to 96.96 % from 85.10 % earlier.

🎯 Unichem Labs :
USFDA approved the company's ANDA for Allopurinol tablets, USP 100 mg and 300 mg.
Positive for the stock. 👍

🎯 GE&TD :
Company awarded grid modernization project by Rajasthan’s Transmission Grid. Company to provide real-time data monitoring solutions to Gujarat’s state utility.
Positive for the stock. 👍

🎯 Star Cement :
Company received Rs.115 crore of freight subsidy claims by the central government. 

🎯 DCM Shriram :
Company commissioned 30 MW Power Plant in Uttar Pradesh and it has started selling power to the Grid with effect from Feb. 28.
Positive for the stock. 👍

🎯 Lemon Tree Hotels :
Company signed a non-binding agreement to acquire 100 % stake in Key Hotels. 

🎯 Deep Industries :
Company received 2 orders from ONGC in the rigs segment valued at around Rs. 183.50 crore.
Positive for the stock. 👍

🎯 Sicagen India: Company made additional investment to the extent of SGD 1 million in subsidiary Wilson Cable Private Limited, Singapore.

🎯 Bliss GVS Pharma :
Board approved increasing FPI investment limit from 24 % to 74 %.
Positive for the stock. 👍

🎯 SpiceJet :
Company will seek compensation from Boeing and demand credit on maintenance, repair.

🎯 JSW Steel :
Company releases pledges of 1.96 crore shares between March 7-11.
Positive for the stock. 👍

🎯 Aurobindo Pharma :
Promoter K Niiyananda Redyy creates pledge of 5 lakh shares on March 11.
Negative for the stock.

🎯 GATI :
Promoter group TCI Finance invokes pledge of 32.9 lakh shares on March 8.

🎯 RCom :
Lenders sold 12 crore shares or 4.34 percent equity.

🎯 Reliance Power :
Lenders sold 4.1 crore shares or 1.47 % equity of promoters by invoking pledge.
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Edited by Sharp.