16th April, 2019 Morning Brief

Market will open on a positive note today.

Underwhelming bank earnings curbed investor enthusiasm in US markets to end all three indices to settle with a minor losses.

IMD's forecast of near normal monsoon may ease the concern over inflation. IMD's first official long-range forecast indicates `near normal' South-West monsoon which would come as a relief to the Street after Skymet predicted below normal monsoon due to developing El Nino.
Nifty 50 inched up yesterday towards 11700 mark and formed a bullish candle on the daily chart. It will be interesting to see whether the bulls can absorb the selling pressure on highest level and sustains above 11760 level or again it will test the high and collapses.

🎯 News & Impact 🎯

Major Results Today : Wipro

New Listing : Polycab

🎯 TCS :
Zions Bancorporation unifies lending operations with TCS BaNCS.

🎯 Prestige Estates :
Company buys balance 51 % share in Babji Realtors Private Limited through subsidiary company for Rs.364 crore.

🎯 Deepak Fertilizers :
Company commences commercial production of nitric acid plant at Dahej, Gujarat. Facility to cost approximately Rs 550 crore.

🎯 DrReddy :
Company received Establishment Inspection Report (BIR) from USFDA, for its formulations manufacturing plant - 3 at Bachupally, Hyderabad.

🎯 Cipla :
Company''s wholly owned subsidiary in USA i.e. Cipla Technologies LLC has signed the definitive agreement with Pulmatrix Inc for the development and commercialisation of Pulmazole, an inhaled iSPERSE formulation of the antifungal drug itraconazole for the treatment of allergic bronchopulmonary aspergillosis (ABPA) in patients with asthma.

🎯 Dynamatic Technologies :
Company launched TEJAS MA|N FUSELAGE ASSEMBLY for Hindustan Aeronautics.

🎯 Suven Life sciences :
Board approved the enhancement of investment limits in subsidiary in USA Suven Neurosciences, Inc. from $25 million upto $50 million to undertake clinical trials on the molecules in the pipeline.

🎯 Cyient :
Company rolled out a portfolio of services and solutions that help communication service providers (CSPs) expedite 5G network rollouts globally.

🎯 Majesco :
Company unveils Majesco P&C core suite version 11.