2nd April, Morning Brief

Market will open on a positive note today after making historical high yesterday.

US stocks rallied on Monday, starting off the second quarter on a strong note, as upbeat manufacturing numbers from China and the United States eased worries about slowing global growth. Asian markets are trading with positive bias in the morning today

Sensex hit a fresh record high above 39,000 for the first time at 39,115 while the Nifty50 close 91 points short of hitting its record high. Banking and NBFC stocks pulled the market down from the record high as The Serious Fraud Investigation Office(SFIO) made its first big arrest in the Infrastructure Leasing & Financial Services (IL&FS) case by taking former vice chairman Hari San karan, ex-Chairman into custody which spread a panic in financial stocks.

India's eight core industries grew 2.1 % in February 2019 against 5.4 % YoY.

Nifty formed a Gravestone Doji kind of pattern on the daily chart yesterday which shows bulls have become weak against bears. Any correction can strengthen the further rally. Oil prices rose to fresh highs for the year on Tuesday, after a US official said Washington is considering more sanctions on Iran and a key Venezuelan export terminal halted operations.

🎯 News & Impact 🎯

Auto Sales

Tata Motors
Total domestic sales up 16% at 68,709 units Vs 5,86,507 units, YoY

TVS Motor
Total sales at 3,25,345 units against 3,26,667 units (YoY)

Eicher Motors
Total sales down 20% at 60,831 units Vs 76,087 units

Hero MotoCorp
Total sales at 5,81,279 units

🎯 Godrej Properties :
Company says it has achieved its highest ever bookings, after the company sold over 2,900 homes with a total area of 3.75 million square feet and booking value in excess of Rs 2,100 crore.
Positive for the stock. 👍

🎯 Cipla :
Company's U.S. arm signed a definitive agreement for investment of $22 million for asset co-development and licensing opportunity for Pulmazole drug with Pulmatrix. 

🎯 Oriental Hotels :
Company concludes the sale transaction of Mysore land for Rs.19.3 crore.

🎯 Strides Pharma Sciences :
Company achieves closure to convert its 50:50 joint venture with Vivimed to 100 percent ownership. 

🎯 Zee Entertainment : Two promoter entities together sold in 76.4 lakh shares of the company in the open market between Feb. 13 and March 29.
Negative for the stock.

🎯 Thyssenkrup and Tata :
Both the companies ready to sell assets to get EU merger approval reported German paper Handelsblatt.

🎯 Coal India :
Company breaches 600 million tonnes mark for the first time in production and off-take for 2018-19. 

🎯 Cyient :
A large order delivery of $5 million has been delayed due to delay in regulatory clearances at customer.

🎯 Mcleod Russel :
Company executes sale of estates, plants and assets in Bargang Tea Estate with Amgoorie India Limited. 

🎯 PVR :
Company opens 2 multiplexes in Assam and Punjab.

🎯 Tata Power :
Company arm hands over combat management system for the indigenous aircraft carrier to the Indian Navy

🎯 NMDC :
Company says it has surpassed the 30 million tonne figure of production and sales for the third year consecutively.

🎯 Reliance Industries :
Company received SEBI’s approval to set-up two infrastructure investment trust -Digital Fibre Infrastructure Trust and Tower Infrastructure Trust. The mentioned trust now owns 51 percent stake in Jio Digital Fibre Pvt. Ltd. and Reliance Jio Infratel Pvt. Ltd.

🎯 MOIL :
Prices of ferro grade and chemical grade have been increased by 5 % compared to last month, while prices of silico manganese grade and Fines remained unchanged. 

🎯 Gateway Distriparks :
Company completed acquisition of entire stake held by Blackstone in arm for Rs. 850 crore on March 29.

🎯 Centrum Capital :
Company has sold its entire equity holding in its wholly-owned subsidiary company, Centrum Defence System Limited and Centrum Infrastructure Advisory Limited.

🎯 Dr Lal Pathlabs :
Company unit approved acquisition of Bawankar Pathology.

🎯 Future Enterprises :
Promoter group Central Departmental Stores created at pledge of 62 lakh shares on March 28.
Negative for the stock.

🎯 Bodal Chemicals :
Company promoter Bhavin Patel acquired 4.6 lakh shares from March 28-29.
Positive for the stock. 👍

🎯 Sun Pharma :
Company prompter group Shanghvi Finance released pledge of 21.9 lakh shares on March 28.
Negative for the stock.

🎯 Emami :
Company promote groups created pledge of 92.3 lakh shares on March 28.
Negative for the stock.

🎯 Zuari Agrochemicals :
Company promoter Zuari Management Services created a pledge of 34.75 lakh shares on March 28.
Negative for the stock.

🎯 Future Retail :
Company promoter Future Corporate Resources created a pledge of 49 lakh shares on March 28.
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Edited by Sharp.