14th May 2019, Morning Brief

A flat opening expected today after heavy selling witnessed in the last session because of global turmoil.

The sell-off that sank U.S. stocks and global commodities spilled into Asia after China retaliated with higher tariffs on a range of American goods.

Yesterday Nifty fell for the ninth consecutive session for the first time in Indian stock market history in last ten years. 
On the macro front, India's retail inflation stood at 2.92 percent in April, higher than 2.86 percent in March. It was well within the target of the Reserve Bank of India (RBI). The CPI data is in-line with the RBI's expectation of 2.8% hence another 25 bps rate cut in the next monetary policy can be expected to infuse liquidity in the system which can be considered as a stick in the sea to float on for a drowning.
Nifty forms a bearish candle for the 9th day in a row. Nifty has taken support around 11150 and can be considered a bounce-back from this level though more downside can't be ruled out yet ahead of uncertainty about US-China trades and election outcome.

Major Results Today :
Nestlé, Siemens, Pidilite, PTC

🎯 News & Impact 🎯

Results Updates :

🎯 Vodafone Idea (Q4, QoQ) :
Revenue up 0.1 % to Rs.11,775 crore.
Net loss at Rs. 4,881.9 crore versus net loss of Rs.5,004.6 crore.

🎯 Godrej Industries (Q4, YoY) :
Revenue up 48.3 % to Rs.2971.8 crore. Net profit up 2.1x to Rs 297.4 crore. Ebitda profit of Rs. 238.3 crore versus Ebitda loss of Rs.156.8 crore.

🎯 Avadh Sugar :
recommended the issue of bonus shares in the ratio of 1:1.
Positive for the stock. 👍

🎯 Wockhardt :
Company gets UK MHRA approval for Daman Units.

🎯 Cox & King :
Company entered into strategic tie-up with RCI in India.

🎯 Zydus Cadila :
Company gets USFDA nod for blood pressure lowering drug.

🎯 Bharti :
Airtel partners with HDFC Life to offer insurance products.

🎯 Pennar :
Company group wins orders worth Rs. 3.11bn.

🎯 Engineers India :
signed a contract with Mangol Refinery from providing its PMC Services for construction of Crude Oil Refinery plant in Mongolia.

🎯 NIIT Technologies :
Company completed sale of 88.99 % stake in its arm ESRI India Technologies to Environment Systems Research Institute (USA).

🎯 D-Link (India) :
Company received show cause notice worth Rs.7.93 crore from the Customs Department. Company has claimed it has paid in advance.

🎯 Max Financial Services :
Company promoter group Max Ventures Investment Holdings created pledge of 2.2 lakh shares from May 9-10.
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Edited by Sharp.