27th March, 2019 Morning Brief

Market may open on a positive in continuation of a bounce-back on yesterday.

The Nifty50 closed tad below 11,500 and formed bullish candle on the daily charts. If the short covering continues ahead of the expiry of March derivative contracts, the bulls can take the index above 11550 which is considered as a resistance zone.

U.S. stocks rallied as investor concern over an economic downturn showed signs of easing.

🎯 News & Impact 🎯

🎯 Jet Airways :
Company to reinstate 50 flights from March 31 and to resume operations from Bhuj, Mangalore, Bhopal & Aurangabad.
Positive for the stock. 👍

🎯 Wockhardt :
Ireland’s HMPRA and the U.K.’s MHRA carried out joint inspection of Wockhardt’s Aurangabad facility. 

🎯 Sheela Foam :
Company OFS promoters said they will sell 42.3 lakh shares or 8.68 percent of equity capital of the company with an over-subscription option of another 2 percent stake.
Negative for the stock.

🎯 PNB :
RBI imposed a Rs 2 crore penalty on Punjab National Bank during assessment of implementation of SWIFT-related operational controls.

🎯 Unitech :
Supreme Court granted approval for sale of company’s entire stake in its Power Transmission Arm to Sterling and Wilson Private Limited.

🎯 Jyothy Labs :
ICICI Prudential Insurance has cut its stake in Jyothy Labs from 5.03 % to 3.01 %.

🎯 GMR Infra :
Tata Group, GIC and SSG Capital Management invest in GMR's Airport business.
Positive for the stock. 👍

🎯 Meghmani Organics :
Fire broke out at agri manufacturing unit in Dahej.

🎯 Kalpataru Power :
Kalpataru Power Transmission promoter groups released pledge of 10 lakh Shares on March 22.
Positive for the stock. 👍

🎯 Laurus Labs :
Company promoter Dr Raju Kalidnidi revoked pledge of 6 lakh shares on March 25.
Positive for the stock. 👍

🎯 Orient Abrasives :
Company promoter group Manan Chetan Shah acquired 10.08 lakh shares on March 22.
Positive for the stock. 👍

🎯 Bodal Chemicals :
Company promoter group Bhavin Patel acquired 8.06 lakh shares between March 22-25.
Positive for the stock.

🎯 Security & Intelligence Services : Promoter group Vocational Skills Council sold 1.5 lakh shares on March 22.

🎯 PVR :
Morgan Stanley France SAS acquired 3.16 lakh shares or 0.68 % equity at Rs.1,572.9 each.
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Edited by Sharp.