25th April, 2019 Morning Brief

Market will open on a positive note today after a smart bounce back witnessed on yesterday.

Asian shares traded mixed today morning  after U.S. equities retreated from a record high.
U.S. markets edged lower from Tuesday’s record close as AT&T Inc. and Caterpillar Inc. fell after reporting first-quarter results.

Market shrugged of worries about crude price uproar as IEA clarified in its recent report that oil market is adequately supplied and global spare production capacity remained at comfortable levels.

Market bounced back smartly in last hour of the trade and recovered almost entire losses incurred in last 2 days. 

As exactly mentioned in previous blog, Nifty didn't breach the level of 11550 and  bounced back nearly 155+ points yesterday. Nifty made a bullish candle on the daily chart yesterday. April derivative expiry and other factors may keep traders  busy for today's session.

🎯 News & Impact 🎯

Major Results Today :
Axis Bank, Maruti, Tata Steel, Biocon, Nestlé.

Results Updates :

🎯 Bharti Infratel (Q4 Consolidated QoQ) :
Revenue down 1.1 % to Rs.3,600 crore. Net profit down 6.3 % to Rs.608 crore.

🎯 Indiabulls Housing Finance (Q4 Consolidated YoY) :
Net interest income down 1.1 % to Rs 1,835.1 crore.
Net profit down 6.9 % to Rs.1,001.4 crore.

🎯 FDC :
Company said its non-sterile manufacturing facility in Maharashtra has undergone an inspection by PIC/S Malaysia and it continues to be approved. 

🎯 IPCA Lab :
Company to acquire Ramdev Chemical for Rs.108.5 crore. The target company is engaged in the business of manufacturing and marketing of advanced drug intermediates, fine chemicals, custom synthesis molecules and APIs.

🎯 Thermax :
Mutares sells 49% stake in JV to Thermax.

🎯 Indoco Remedies :
USFDA retains OAI status for Indoco Remedies Goa plant.

🎯 Hotel Leela :
SEBI bars Hotel Leelaventure from selling properties to Brookfield Asset Management.

🎯 Surya Roshni :
Company bags order worth Rs. 2.31bn from Indian Oil 

🎯 Emami :
Company promoter groups invoked pledge of 3 lakh shares on April 20.
Positive for the stock. 👍

🎯 Mercator :
Company promoter Harish Kumar Mittal revoked pledge of 10 lakh shares on October 27, 2018 and invoked pledge 21.5 lakh shares from April 5-10.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.