23rd April 2019, Morning Brief

Market will open on a flat note today after tumbling session yesterday.

A rise in crude oil was one of the top factors that not only weighed on Indian markets but most of the Asian markets. Oil prices that touched a 5-month peak spiked on reports that the US was likely to ask all importers of Iranian oil to end their purchases or face sanctions.

U.S. equity indices closed mix in light volume as investors prepared for a deluge of earnings news. Oil jumped after the White House said it will scrap waivers that allow the purchase of some Iranian crude.

Reuters in a report said that Brent futures rallied to a five-month high after the Washington Post.

Nifty has an immediate support at 11550. If Nifty decisively closes below 11550 then it can be considered as exhaustion after making new high and it will stay rangebound or may slide upto the levels of 11050 & 11180.

🎯 News & Impact 🎯

Major Results Today :

ACC, Indiabulls Real Estate.

Results Updates :

AU Small Finance Bank (Q4, YoY)
Net Interest Income up 34.9 % to Rs.386.9 crore.
Net profit up 42.4 % to Rs.118.2 crore.

🎯 Essel Propack :
Blackstone Group will buy a controlling stake in Essel Propack Ltd., a company promoted by Ashok Goel, the younger brother of Subhash Chandra who’s the promoter of the Essel Group companies such as Zee Entertainment Enterprises Ltd.

🎯 IL&FS / GAIL :
Gail emerged as the highest bidder for IL&FS wind energy assets, offers Rs. 4,800 crore portfolio of wind assets.

🎯 Mcleod Russel :
Company executed sale agreement for specified assets from its three estates to Luxmi Tea for Rs.150.45 crore.

🎯 Biocon :
Company said it will consider issuing of bonus shares on April 25.
Positive for the stock. 👍

🎯 Suven Life Sciences :
Company completed purchase of assets of Rising Pharmaceuticals through its joint venture partner Shore Suven Pharma.

🎯 Symphony :
Company surrendered lease rights of its Surat SEZ unit for Rs.3.5 crore on April 5.

🎯 TCS :
Company to provide digital solutions to India Post.
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Edited by Sharp.