9th March, 2019 Morning Brief

Market will open on a flat note today after a negative closing in the last session.

The Nifty50 continued to hold psychological 11,000 levels for third consecutive session on March 8 despite a moderate correction and formed a doji on the daily chart. 11118 should be pierced on the upper side protecting 10950 on closing basis.

U.S. stocks dipped Friday on mixed U.S. employment data.

🎯 News & Impact 🎯

🎯 Sun TV :
Sun TV Network announced a dividend of Rs 2.5 apiece.

🎯 Oil India :
Company awarded two blocks as part of the Discovered Small Field Bid Round – II.

🎯 Delta Corp :
Company said it will buy 25 percent stake in Jalesh Cruises Mauritius for $10 million.

🎯 Nitish Estates :
Company reduced its debt by Rs.408 crore, i.e., 30 % of the overall debt.
Positive for the stock. 👍

🎯 Goa Carbon :
Company produced 18,026.8 MT of calcined petroleum coke, i.e., 54 % higher compared to last year.

🎯 Punj Llyod :
NCLT admitted ICICI Bank’s petition under Insolvency and Bankruptcy Code in respect of an alleged default amount of Rs.853.8 crore.

🎯 Dilip Buildcon :
Company declared L-1 for the EPC project in Maharashtra costing Rs.480 crore to be completed in 24 months.

🎯 Dredging Corp :
Government signed share purchase agreement with Visakhapatnam Port Trust, Paradip Port Trust, Jawaharlal Nehru Port Trust and Deendayal Port Trust to sell 73.5 % stake in the company. 

🎯 McLeod Russel India :
Company said it will sell assets of Boroi Tea Estate in Assam to Jatinga Agro Tech for Rs.28 crore.

🎯 Reliance Industries :
NCLT Ahmedabad approved Reliance Industries-JM Financial resolution plan for Alok Industries insolvency process.

🎯 CG Power :
Promoters 6.76 crore pledged shares or 10.8 % equity invoked by lenders. 

🎯 Reliance Infrastructure :
Promoters 50 lakh pledged shares or 1.9% equity were sold by lenders.
Negative for the stock.

🎯 Reliance Power : 
Promoters 2.15 crore pledged shares or 0.77 % equity were sold by lenders.
Negative for the stock.

🎯 Reliance Communications : Promoters 19 crore pledged shares or 6.86 % equity were sold by lenders.
Negative for the stock.

🎯 Jet Airways :
Company gets Rs.2,050 crore loan from Punjab National Bank.

🎯 GMR Infra :
Subsidiary GMR Airports received the formal Letter of Award from MIHAN India Limited, the concessioning authority for the Nagpur Airport, towards the development, operations and management of Dr Babasaheb Ambedkar International Airport, Nagpur, at a revenue share of 14.49 % of gross revenues.

🎯 CES :
Company completed the acquisition of 37 percent stake in CES Technology Services Private Limited.

🎯 Celebrity Fashions :
Promoter Rama Rajagopal created a pledge on an additional 7.8 lakh shares (1.64 % of paid-up equity).

🎯 Eveready Industries :
DSP Trustee cuts its stake in the company by 3.8 % to 1.09 %.
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Edited by Sharp.