6th March, 2019 Morning Brief

Market to continue yesterday's rally with a positive opening today.

There is no support from the global markets today as US markets ended flat with minor losses on Dow and S&P 500 but negligible gain on the Nasdaq. Asian markets too trading mix as Nikkei is trading weak whereas Hang Seng is trading with some gains in this morning. Oil falls by half percent as rising US production counters OPEC supply cuts.

Nifty50 has made a bullish candle and showed the strength to surpass it's resistance of 11050.

Ex-Bonus Today : Wipro

🎯 News & Impact 🎯

🎯 Endurance Technologies :
Company’s promoter said it will sell 63.6 lakh equity shares or 4.52 % equity with greenshoe option of additional 41.9 lakh equity shares or 2.98 % equity to non-retail investors on March 6 at Rs. 1100 per share.
Cautious over the counter. ⚠

🎯 Edelweiss Financial Services :
CDPQ, the NBFC arm of Edelweiss to invest over Rs 1,800 crore into ECL Finance.

🎯 HCC :
Company promoter pledged additional 78.16 lakh equity shares or 0.52 percent equity with IDBI Trusteeship.
Cautious over the counter. ⚠

🎯 GATI :
Lenders invoked 26,000 shares pledged by promoters on Feb. 28.
Positive for the stock. 👍

🎯 Bank of Maharashtra : RBI levied a penalty of Rs 2 crore delayed implementation of SWIFT related operational controls.Five banks faced a total penalty of Rs 10 crore from the Reserve Bank for non-compliance with various directions. 

🎯 Bank of Baroda, ICICI Bank, Yes Bank and Canara Bank have been penalised by the central bank for not complying with directions on global transaction messaging software Swift. 

🎯 Allahabad Bank :
Bank was fined for non-compliance of directions with regard to Nostro accounts.

🎯 Sun Pharma :
Raksha Valia on a net basis pledged additional 95.6 lakh equity shares with Citicorp. Shanghvi Finance released pledge on 11.7 lakh equity shares.

🎯 Grasim Industries :
Company signed definitive agreement with Soktas India Pvt Ltd. for an enterprise value of Rs.165 crore. SIPL is in the business of manufacturing and the distribution of premium cotton fabrics.

🎯 Quick Heal Technologies :
Company to buyback 63.6 lakh equity shares or 9.02 % equity at Rs.275 per share. Total buyback is worth Rs.175 crore, i.e., 23.87 % of networth.

🎯 Bharti Airtel :
Company collaborates with Zoom to launch India's first high quality unified communications solution for businesses' issued by the company.

🎯 Newgen Software :
Company receives patents from Indian Patent Office for its inventions.

🎯 Bosch :
Company announced an extinguishment of equity shares with respect to the buyback of 10,27,100 fully paid-up equity shares of face value of Rs.10 each.

🎯 ITI :
Subsidiary ITI Alternate Funds Management Limited received a registration certificate from SEBI to act as Portfolio Manager.
Positive for the stock. 👍

🎯 Sterlite Tech :
Company unveils TruRibbonTM - Ribbon Reinvented, a fully backward compatible cable built for high-capacity networks.
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Edited by Sharp.