9th April, 2019 Morning Brief

Market will open on a flat note today.

Asian stocks were mixed Tuesday after the threat of new tariffs on European goods from President Donald Trump damped risk appetite. The S&P 500 and the Nasdaq edged into positive territory on Monday, with gains held in check by falling industrials resulted into slide in Dow Jones index.

The market fell sharply from the high and closed lower on April 8 as a rise in crude oil prices to five-month highs dented traders sentiment.

On the daily chart, the Nifty has formed an Engulfing Bear candle, which adds to the probability in favour of the bears. Nifty has tested it's nearest support of 11550 for the second time in last 3 sessions. It is interesting to see whether it will break down this support to slide towards 11180 or it will make a intermediate bottom at around 11550.

🎯 News & Impact 🎯

Results Updates :

🎯 Delta Corp :
Revenues up 19.1 % at Rs.204.3 crore.
Net profit up 25.2 % at Rs.56.7 crore.
Margins at 43.1 % versus 39.3 %.

🎯 Panacea Biotec :
Piramal Enterprises and Bain Capital backed India Resurgence Fund to invest Rs.992 crore in the company. 

🎯 DLF :
Government of Singapore (GIC) sold 3.8 percent stake in the company worth Rs 1,300 crore. It reduced its stake from 4.11 % to 0.3 %, as per exchanges. 
Societe Generale acquired 2.09 crore shares or 1.17 % equity at Rs.191 each.

🎯 Coffee Day Enterprises :
Japan based-Impact HD to invest up to $15 million for 49 percent stake in the company’s arm Coffee Day Consultancy Services.
Positive for the stock. 👍

🎯 Fortis Healthcare :
Company has started looking for buyers to purchase its 27.8 % stake in Singapore based arm RHT Health Trust.
Positive for the stock. 👍

🎯 Voltas :
Company signed a distribution agreement with Japanese based textiles machines manufacturer ‘Shima Seiki’ for sales and marketing of the latter’s products in India.

🎯 InterGlobe Aviation :
IndiGo strengthened Mumbai as a key travel hub with three new international and 20 additional domestic flights.

🎯 Prabhat Telecom :
Company entered into a distribution agreement with Hong Kong based ‘Xmi’ for distributing telecom accessories as manufactured products in 12 states in India to specific retailers on Non-Exclusive Basis.

🎯 Karda Constructions :
Commenced construction of residential and commercial project in Nashik.

🎯 Sun Pharma :
Company promoter group Shanghvi Finance created pledge of 2.13 crore shares on April 4.
Negative for the stock.

🎯 Zee Media :
Zee media Corporation promoter 25FPS Media created pledge of 2.37 crore shares from March 29-30.
Negative for the stock.

🎯 Dish TV :
Promoter Direct Media Distribution Ventures created pledge of 33.8 lakh shares and released pledge of 18 lakh shares from March 29-30.
Negative for the stock.

🎯 Astra Microwave :
Company promoter B Malla Reddy invoked pledge of 10,200 shares on April 3.
Positive for the stock. 👍

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Edited by Sharp.