10th May, 2019 Morning Brief

A positive opening expected today in line with Asian markets which are trading higher.

Asian shares climbed with U.S. equity futures as the U.S. and China continued a pivotal round of trade negotiations ahead of tariff announcement.

Nifty has taken support around 11250 and closed above 11300 mark yesterday. Hopefully we can see a short covering from this level ahead of the US China trade deal. Any miss-expectations can shake the global markets and thus Indian too. 11180 would be the next support going ahead before election results.

🎯 News & Impact 🎯

Major Results Today :

SBI, L&T, Eicher Motors, Canara Bank.

Result Updates :

🎯 HCL Tech (Q4, QoQ)
Dollar revenue up 3.5 % at $2278 million.
Revenue up 1.9 % to Rs.15,990 crore.
Net profit down 2.1 % to Rs.2,550 crore.

🎯 Voltas (Q4, YoY) :
Revenue up 0.7 % to Rs.2,062.8 crore.
Net profit down 27.6 % to Rs.139.6 crore.
Ebitda down 43 % to Rs.144.2 crore.
Margin at 7 % versus 12.4 %.

🎯 Shankara Building Products (Q4, YoY) :
Revenue down 18.5 % to Rs.619.7 crore.
Net profit down 92.6 % to Rs.1.6 crore.

🎯 Mahanagar Gas (Q4, YoY) :
Revenue up 23.1 % to Rs.722.5 crore.
Net profit up 27.4 % to Rs.133.5 crore.
Ebitda up 21.5 % to Rs.214 crore.
Margin at 29.6 % versus 30 %.

🎯 PNB Housing Finance (Q4, YoY) :
Net Interest Income up 16.8 % to Rs. 465.4 crore.
Net profit up 51 % to Rs.379.8 crore.

🎯 Reliance :
Reliance Industries’ arm signed a definitive agreement to acquire 100 % stake in British toy retailer Hamleys for GBP 67.96 million (Rs.620 crore).

🎯 Lupin :
Luoin, Aptissen sign pact to sell Osteoarthritis injection in Canada. 

🎯 Jindal Steel :
Company bags Rs. 6.65bn order to supply rail to Indian Railways.

🎯 Dynamatic Technologies :
Company signs contract with Boeing Defense.

🎯 Quess Corp :
Company completed acquisition of 100 % stake in Greenpiece Landscape.

🎯 Larsen & Toubro, Mindtree :
Company acquired 33.05 lakh shares of Mindtree on May 9.

🎯 Welspun Corp :
Received additional pipe orders of 103 KMT which will be serviced from India. Order book stood at 1,698 KMT valued at Rs.14900 crore.

🎯 HDFC Life Insurance :
Company promoter Standard Life sold 3.3 crore shares from May 3-6.

🎯 Mcleod Russel :
Company promoter Williamson Magor & Company created a pledge of 78.32 lakh shares (7.5 %) in favour of IndusInd Bank on April 30.

🎯 Eveready Industries :
Promoter Williamson Magor & Company created a pledge of 56.83 lakh (7.82 %) in favour of IndusInd Bank on April 30.

🎯 Max Financial Services :
Company promoter group Max Ventures Investment Holdings created pledge of 50,000 shares on May 6.

🎯 Adani Transmission :
Company promoters created pledge of 6.42 crore shares and revoked pledge of 5.76 crore shares on May 6.

🎯 Sobha :
Company promoter PNC Menon created pledge of 1 crore shares and released pledge of 1 crore shares from April 22-23.
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Edited by Sharp.