8th March, 2019 Morning Brief

Market will open on a negative note because of global nervousness.

Europe’s central bank gave a weak signal to global markets as they said, it would defer interest rate hikes and offered banks a new round of cheap loans, raising fresh concerns about global economic growth. US markets closed into negative territories along with European markets and same thing carried in Asian markets this morning.

Nifty50 has plotted a hanging man pattern on the daily chart which interprets a consolidation after a rally because of temporary exhaustion of bullishness. Nifty50 has to surpass 11150 level to popup for 11400 level zone.

🎯 News & Impact 🎯

🎯 Wipro :
Company promoter said it will sell up to 2.67 crore shares in company via block deal.

🎯 Reliance Industries :
Company entered into an MoU with NMSEZ to sub lease 4,000 acres of land, and also made an initial payment of Rs 2,180 crore to the latter.

🎯 Infosys :
Company said it will deliver engineering and digital services to Rolls-Royce group.

🎯 KNR Constructions :
Receipt of order worth Rs 135 crore from Karnataka Road Development Corporation. They bagged a hybrid annuity project with bid project cost of Rs 920 crore.
Positive for the stock. 👍

🎯 Lupin :
Company received the FDA approval for Atorvastatin calcium tablets. The product has annual sales of approximately $696 million in the U.S.
Positive for the stock. 👍

🎯 NIIT :
Canara Robeco MF buys 12 lakh shares at Rs 92.80 apiece.

🎯 Vijaya Bank :
Morgan Stanley buys 81.3 lakh shares at Rs 45.97 apiece.

🎯 Satin Creditcare Network :
Promoter Taco Consultants Private Limited released a pledge on 1.6 lakh shares (representing 0.32 percent of paid-up equity) and Parinita Investments Private Limited also released a pledge on 1.6 lakh shares of the company.
Positive for the stock. 👍

🎯 BLS International Services :
Company has been signed up by the Embassy of Vietnam to accept visa applications in India.

🎯 Zensar Technologies :
Zensar selected as IT transformation partner by Vyaire Medical, US.

🎯 Shashijit Infraprojects :
Company received project from Western Zonal Assembly Mumbai Diocese of the Mar Thoma Church for construction of school building in Vapi, Gujarat. The project cost would be around Rs 3.80-3.90 crore.
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Edited by Sharp.