5th April, 2019 Morning Brief

Market will open on a flat note today after witnessing profit booking after monetary policy outcome.

Rate cut usually acts as a sentiment booster and aid companies that have to service large debts. A cut by RBI injects liquidity in the economy. Loans with a low rate lead to an increase in buying interest in the consumer-driven economy which will help India Inc. to deliver strong earnings growth.

The rate cut follows a 25 bps cut in the last MPC meeting in Feb-19 and indicates continued dovishness of the central bank.
The downward revision on GDP growth and CPI inflation forecast indicates some caution from the regulator. Liquidity too remains a concern.

Nifty50 formed another bearish candle on the daily chart yesterday. Nifty could not surpass it's previous high of 11761 to close above. Selling pressure persisted near that level could build a strong resistance near the level which can support the bears to pull down Nifty towards 11550 level of support. Interesting to see whether it reclaim the higher level or slide today.

🎯 News & Impact 🎯

🎯 Zensar Technologies :
Company started operation in Mexico supporting the company’s customers in North America and the local region.

🎯 Cipla :
Company received Establishment Inspection Report on its Goa manufacturing plant by the U.S. FDA.

🎯 Bal Pharma :
Company received EU-GMP approval for formulations manufacturing plant at Rudrapur, Uttarakhand.

🎯 Rallis India :
Company said that the Pollution Control Board has revoked it closure order of the company’s Gujarat unit. 

🎯 Alembic Pharma :
Company received establishment inspection report from USFDA for Panelav formulation facility.

🎯 Godrej Properties :
Company adds a new residential project in Navi Mumbai.

🎯 Amaraja Batteries :
Gallas to buy 2 % stake from Johnson Controls in Amara Raja Batteries, increasing shareholding to 28 %.

🎯 Adani Enterprises :
Company promoter Gautam Adani revoked pledge of 4.3 lakh shares on April 2.
Positive for the stock. 👍

🎯 Future Enterprises :
Company promoter group Future Corporate Services released pledge of 12.14 lakh shares on April 1.
Positive for the stock. 👍

🎯 Emami :
Promoter group Bhanu Viniyog created pledge of 1.05 crore shares and revoked pledge of 43.21 lakh shares from March 29 to April 2 and promoter group Bhanu Vyaapar revoked pledge of 27.63 lakh shares on April 3.

🎯 Adani Ports & SEZ :
Promoter group Gautam Adani revoked pledge of 5 lakh shares on April 2.
Positive for the stock. 👍

🎯 JSW Energy :
Promoter group Danta Enterprises created a pledge of 13.75 lakh shares on April 2.

🎯 DB Corp :
Promoter group Stitex Global revoked pledge of 3.68 lakh shares on March 30.
Positive for the stock. 👍

🎯 Bajaj Consumer Care :
Company promoter Bajaj Resources created a pledge of 37k shares on April 2.
Negative for the stock.
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Edited by Sharp.