25th March, 2019 Morning Brief

Market will open with a gap down today tracking down the global weakness.

Stocks in Asia tracked heavy losses in U.S. equities as bond yields continued to march lower amid concerns that momentum is slowing in the global economy after Germany PMI data hit 6 years' low.

As mentioned previously, Nifty has created resistance zone at around 10550 level and could find immediate support around 10350.

🎯 News & Impact 🎯

🎯 Dr. Reddy :
Dr Reddy’s Laboratories’ Hyderabad Unit receives no observation under form 483 by the U.S. FDA. The inspection was completed on March 21.

🎯 Infosys :
Company to invest $10 million in venture capital investment entity House Fund II, targeting startups from University of California, Berkley.

🎯 Greenlam Industries :
Company board approved increasing manufacturing capacity to additional 1.6 million laminate sheets per annum, for an investment of Rs 25 crore. 

🎯 Ramco Cements :
Company increased its stake in IT Services arm to 94.12 % via rights issue for Rs 4.5 crore.

🎯 Amber Enterprises :
Company signs definitive agreement to acquire 80 % stake in Sidwal Refrigeration Industries. 

🎯 Manpasand Beverage :
The company incorporates a wholly owned subsidiary company i.e. Manpasand Products.

🎯 Eid Parry :
Company board approved investment of Rs 70 crore in wholly owned arm Parry Sugars Refinery.

🎯 TV Today :
Income Tax Appellate Tribunal, Delhi Bench (ITAT) disposed off demands of Rs 69 crore foe assessment years 2013-14 and 2014-15.

🎯 Sylph Technologies :
The company approves to sell 7,11,598 shares of Sakshi Powertech for a consideration of Rs 5.59 crore at Rs 78.68 per share.

🎯 TTK Prestige :
Company to consider issuing bonus share on March 29.
Positive for the stock. 👍

🎯 International Paper :
Company said that the maintenance at Rajahmundry plant from March 25, 2019 to March 30, 2019 would lead to estimated loss of production of around 500 tonnes per day.
Negative for the stock.

🎯 Insecticide India :
Company inaugurates new factory for commercial production agrochemicals.

🎯 Ramco Cements :
The company acquires 45 lakh shares of Ramco Industrial and Technology for Rs 10 per share.

🎯 Karnataka Bank :
Company reported a fraud to RBI amounting to Rs.13.26 crore.

🎯 CG Power and Industrial Solutions : Company promoter Avantha Holdings invoked pledge of 6.76 crore shares on March 20.
Positive for the stock. 👍

🎯 GATI :
Company promoter group Mahendra Kumar Agarwal and Sons HUF created pledge of 1.2 lakh shares on March 19.
Negative for the stock.

🎯 Bajaj Consumer :
Company promoter Bajaj Resources created pledge of 3.08 lakh shares on March 19.
Negative for the stock.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒
Edited by Sharp.