1st April, 2019

Market will open with a gap-up tracking positive global cues.

The market will react to auto sales and the Reserve Bank of India (RBI) policy scheduled to be announced in coming week, but the focus is expected to remain on general elections, along with the March quarter and the full year earnings season scheduled to begin in second week of April.

Current rally in stocks is being powered by optimism over possible re-election of the Modi government and the sharp increase in FIIs inflows, to the tune of almost Rs.48,000 crore this calendar year.

Nifty is forming higher high and higher low formation continuously from last six weeks. 10630 would be the immediate resistance level for today's session to see Nifty touching new highs ahead.

🎯 News & Impact 🎯

Listing Today :
Embassy office Parks REIT

🎯 Sun Pharma :
U.S. FDA approved Sun Pharma and Zydus's ANDA for ambrisentan.
Positive for the stock. 👍

🎯 Dr. Reddy’s Laboratories :
Its Vishakapatnam facility has been re-inspected by Regulatory Authority of Germany and considered to be fully compliant.

🎯 Cipla :
Company received eight GMP observations and 10 PAI observations. These observations are both product specific and GMP observations related to the manufacturing and quality processes.
Cautious over the stock.

🎯 Indoco Remedies :
U.S. FDA changed the inspection classification status from 'Official Action Initiated' to 'Voluntary Action Initiated' for Goa plant. 

🎯 Indian Bank :
Ministry of Finance issued notification for amalgamation of Pallavan Grama Bank (sponsored by Indian Bank) and Pandyan Grama Bank (sponsored by Indian Overseas Bank) in Tamil Nadu into a single Regional Rural Bank which shall be called as Tamil Nadu Grama Bank under the sponsorship of Indian Bank.

🎯 SRF :
Company said that pollution control board has issued directions to close the operations of its industrial plant in Gujarat due to alleged non-compliance with the provisions of Water (Prevention and Control of Pollution) Act, 1974.

🎯 Grasim Industries :
Company acquired 100 % stake in Soktas India for Rs.135.12 crore. 

🎯 Havells India :
Company started commercial production of air conditioners at its Rajasthan plant.

🎯 Rushil Décor :
Company received closure notice from Pollution Control Board to stop the manufacturing process of one of the Laminate Sheet manufacturing units in Gujarat.

🎯 Inox :
Company said it has commenced commercial operations of one multiplex in Odisha.

🎯 Tata Motors :
Company sold its entire stake in Aerospace business to TASL for Rs.625 crore. 

🎯 GAIL and BHEL :
Companies signed Memorandum of Understanding for development of solar-based power project.

🎯 Garden Reach Shipbuilders & Engineers :
Company delivered a landing craft utility L -56 to Indian Navy.

🎯 Welspun Corp :
Company plans to sell its plate and coil mill division (PCMD) and 43 MW power division for Rs.940 crore to Laptev Finance Pvt. Ltd. 
Positive for the stock. 👍

🎯 Titan :
Company acquired 30.5 lakh equity shares in CaratLane for Rs.100 crore. 

🎯 NLC India :
TANGEDCO (Tamil Nadu Electricity Board Division) has not agreed to extend power supply agreement with NLCIL’s Thermal Power Station (TPS-1) beyond March 31.

🎯 Vikas WSP :
Company received sanction for 80 % principle outstanding amount of Rs. 97.75 crore being Rs. 78.20 crore to be paid by ACRE and 20 percent amount Rs 19.55 crore to be paid by the promoters aggregating to Rs 97.75 crore in all.

🎯 Mishra Dhatu Nigam :
Company handed over bullet proof vehicles to Central Armed Police Force at Midhani.

🎯 CONCOR :
Company inaugurates its first distribution logistics center at Ennore, Chennai.

🎯 Blue Coast Hotels :
Company announced acquisition of 8.5 crore equity shares from IFCI Limited in subsidiary Silver Resort Hotel India..

🎯 Darjeeling Ropeway Company : Company bagged sub-contract for construction of 24 shades for district police offices/units at Ahmedabad and Surat City worth of Rs 2.52 crore, and sub-contract for repair and maintenance of 73 boats used by State Disaster Recovery Force, Emergency Response Centre, Municipal Corporation and Gujarat District collectively.

🎯 Suryalata Spinning Mills : Company successfully installed and completed trailes on 22,000 spindles at Kalwakurthy Unit.

🎯 Gayatri Highways :
Company's subsidiary terminated its concession agreement with National Highways Authority of India (NHAI) on the basis of Force Majeure (Political event).

🎯 Ugar Sugar Works :
Company purchased up to 99 % stake in Ugar Theatre Pvt Ltd.

🎯 CyberTech Systems and Software : Overseas direct investment of $0.2 million is made in subsidiary Spatialitics LLC, Delaware, USA.

🎯 Sadbhav Infrastructure Project : Company acquired further 6 % (3,000) equity shares of subsidiary Maharashtra Border Check Post Network Limited (MBCPNL), held by SREI.

🎯 Dynamic Industries : Company has disinvested/sold its entire investment in equity shares of its wholly owned subsidiary in Neo Farbe Private Limited.

🎯 Scanpoint Geomatics :
Company in consortium with Team Computers Private Limited (lead bidder) received a contract for setting up of enterprise Geoportal for National Atlas and Thematic Mapping Organisation (NATMO), Kolkata.

🎯 Jindal Drilling :
Company has acquired an offshore jack up drilling rig from Discovery Drilling Pte Ltd, Singapore, a joint venture of the company.

🎯 Apollo Tyres :
Promoter Motilay Finance created a pledge of 40 lakh shares on March 26.
Negative for the stock.
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