7th March, Morning Brief

Market will open on a cautious note today after Asian stocks were mixed this morning as global growth concerns resurfaced and U.S. equities fell back.

U.S. equities fell to a three-week low on concern about the outlook for growth after fresh data pointed to a slowing economy before a key jobs report Friday.

Nifty has a closing above 11000 mark yesterday with a bullish candle and it is interesting to see whether it will continue it's Northward journey by crossing it's neckline of 11118 which was a level from where Nifty50 has collapsed to 10585. If it will cross that hurdle decisively, the 11400 mark will be on the mark.

🎯 News & Impact 🎯

🎯 HDFC :
Company declared Rs.3.5 per share as interim dividend.

🎯 Vedanta :
Company declared second interim dividend of Rs.1.85 per share.

🎯 HFCL :
Company bagged orders of Rs.117 crore for supply of optical fibre cables from Tata Project Ltd. under Bharat Net Phase-II project in the state of Chhattisgarh.
Positive for the stock. 👍

🎯 MEP Infra :
Promoter released a pledge on 38 lakh shares (representing 2.07 percent of total paid-up equity).
Positive for the stock. 👍

🎯 Jayant Agro :
Promoter Jayant Finvest increases stake in company by 3.22 % to 58.93 %.
Positive for the stock. 👍

🎯 Ajmera Realty :
Promoter ARIIL Trust raises stake in company by 2.78 % to 52.81 %.
Positive for the stock. 👍

🎯 Biocon :
Company received six observations under form 483 for its Bengaluru facility.
⚠ Cautious over the stock.

🎯 Relaxo Footwear :
Promoters cut stake in the company by 1.967 % to 35.508 %.
Negative for the stock.

🎯 Varroc :
Varroc Lighting Systems opened a new research and development centre In Poland.

🎯 Apollo Tricoat Tubes :
Company started production at Karnataka manufacturing facility having installed capacity of 75,000 MTPA.

🎯 Tata Motors :
Company signed an accord with Wise travels to supply Tigor EVs. 

🎯 NELCO :
Company secured in-flight and maritime connectivity licence from Department of Telecommunications.

🎯 Salora International :
Board said it will consider de-listing shares from the NSE on March 9.

🎯 LT Foods :
Company to invest Rs.20 crore via preference shares in subsidiary Daawat Food.

🎯 Asahi :
Asahi Songwon Colors resumed operation at CPC Crude Blue Plant.

🎯 Cyient :
Company selected by U.K. Power Networks to develop an outage planning portal. 

🎯 HSIL :
Reliance MF cuts its stake in company by 0.65 % to 4.47 %.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ Edited by Sharp.