22nd March, 2019 Morning Brief

Market will open on a flat note after yesterday's holiday.

On the global front, the US Federal Reserve indicated that it sees no further rate hikes this year. US markets cheered the sentiments to reaching it's indices on a five months' high.

Nifty formed a bearish candle and snaps 7-days winning streak. Bulls took breather on 20th March after consistent run for previous seven consecutive sessions. Benchmark indices closed mixed while the broader markets finished lower as breadth was in favour of bears. Sensex gained 23 points and Nifty lost 11 points to end at 11521.
Nifty has made a resistance around 11500 zone to surpass.

🎯 News & Impact 🎯

🎯 Dr Reddy :
Company gets U.S. FDA’s approval for its ANDA Pregabalin.
Positive for the stock. 👍

🎯 PFC :
CCEA has given final approval for sale of REC’s 52.6 stake.

🎯 Fortis Healthcare : 
SEBI has ordered both Fortis Healthcare and Fortis Hospitals to continue pursuing measures to recall the outstanding Rs. 403 crore amount along with due interest from Singh Brothers and related entities.

🎯 SpiceJet :
Company is considering taking control of 40 Jet Airways aircraft after being tapped in by the Indian government.

🎯 IDFC First Bank :
Company sells its entire stake of 8.73 % in Asset Reconstruction Company (India) Ltd.

🎯 Bosch :
Bosch India executes a JV agreement with Prettl India with total investment of Rs 20 crore to supply automobile components.

🎯 Vedanta :
Company's Zambia unit halts work at shaft after death of worker.

🎯 CG Power and Industrial Solutions :
Company arm installs electricals work and voltage equipment for Northlands Powers offshore wind farm substation.

🎯 Infosys :
Company signs 3-year technology partnership with Roland Garros.

🎯 Wipro :
Company arm launches crowdsourced software for testing solutions.

🎯 Jubilant Life Science :
Jubilant Employees Welfare Trust sold 34.74 lakh shares or 2.18 percent equity at Rs 784.17 each.

🎯 Carborundum Universal :
Sundaram Mutual Fund acquired 13.04 lakh shares or 0.69 % equity at Rs.357.55 each.

🎯 Greenlam Industries :
Board approved to increase the manufacturing capacity of the company to manufacture additional 1.6 million laminate sheets per annum. 

🎯 IDFC First Bank :
Bank sold the entire stake of 2,71,97,743 equity shares comprising approximately 8.37 percent of the share capital of Asset Reconstruction Company (India) Limited [Arcil].

🎯 Reliance Industries :
Company has invested Rs.5 lakh in cash in 50,000 equity shares of Rs.10 each of Reliance Navi Mumbai Infra Limited (RNMIL), a newly incorporated entity. RNMIL is incorporated with the purpose of undertaking real estate and related infrastructure activities. RNMIL is yet to commence its business operations.

🎯 GMR Infra :
Delhi International Airports Limited (DIAL), a GMR led consortium has awarded the right to develop and maintain a commercial development project at Gateway and Downtown Districts of Aerocity with maximum permissible FSI of approximately 9 lakh square meter at Indira Gandhi International Airport to a consortium led by Bharti Realty Ltd.

🎯 KIOCL :
Government intimated the Request For Proposal (RFP) for engagement of book running lead managers (BRLM) for disinvestment of upto 15 % paid up equity of company out of its shareholding of 99.06 % through 'follow-on public offer' in the domestic market.
Positive for the stock. 👍

🎯 BEML :
Board approved 'Request for Proposal' for appointment of transaction advisor, legal advisor & asset valuer for disinvestment of company shareholding of 96.56 % in subsidiary Vignyan Industries Limited.

🎯 Manappuram Finance :
Board approved acquiring 100 % equity shares of Manappuram Comptech & Consultants Ltd and to make it a wholly owned subsidiary company of the company.

🎯 Jet Airways :
Banks to ask Naresh Goyal to step down from Jet Airways with immediate effect and want Naresh Goyal to bring his stake down to 10%.

🎯 Krypton Industries :
Company received an order of Rs.23.10 crore, to be fulfilled in between March 2019 to March 2020 for hospital equipment (wheelchairs) through dealer against Tender from ALIMCO, a Government of India Undertaking.

🎯 DB Realty :
Promoters released a pledge on 2.2 crore shares.
Positive for the stock. 👍

🎯 Asian Oilfield Services :
Company received a binding letter of intent from Oilmax Energy Private Limited for supply and O&M surface facilities for its Charaideo field.
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Edited by Sharp.