15th May, 2019 Morning Brief

Market will open on a flat note today after a smart bounce-back as expected in the last session.

Asian stocks struggled near a 3-1/2-month low on Wednesday on lingering concerns over the economic impact of a US-China trade war, although an overnight bounce on Wall Street helped limit the losses. When the time is right we will make a deal with China," "It will all happen, and much faster than people think!" said the President, Trump which helped US markets to gain and that of global sentiment.

Oil prices rose over 1 percent on Tuesday after top exporter Saudi Arabia said explosive-laden drones launched by a Yemeni-armed movement aligned to Iranhad attacked facilities belonging to state oil company Aramco.

Nifty formed a long legged bullish candle after nine negative candles in a row. Though we have witnessed a smart bounce-back yesterday, market needs a lot of strength to conquer the new high. Because every rise can be witnessed with a sell-off for booking short term profits. But we can consider 11070-11100 as a temporary support and 10800-10830 level zone going ahead more on down side. Delayed monsoon and below average rainfall may hamper market sentiments to convince the central bank on more rate cut in next monetary policy which will be announced in June. Before that, we have to face outcome of election where stable Govt has already factored in.

Major Results Today :

Lupin, Jubilant Foodworks.

🎯 News & Impact 🎯

🎯 Nestlé Q1:
Net profit up 9.2% at Rs.463.3 crore against Rs. 424 crore,
Revenue up 8.9% at Rs.3,002.9 crore versus Rs. 2,757.2 crore, YoY.
Positive for the stock. 👍

🎯 Pidilite :
Net profit down 4.3% at Rs.236.9 crore versus Rs 247.5 crore,
Revenue up 10.3% at Rs.1,638.9 crore versus Rs. 1,485.3 crore, YoY.

🎯 PTC Q4 :
Net profit down 16.3% at Rs.53.9 crore Vs Rs 64.4 crore,
Revenue up 22.7% at Rs.2,651.3 crore Vs Rs. 2,161.5 crore, YoY.

🎯 GIPCL :
Company has emerged as successful Bidder for Gujarat Urja Vikas Nigam for setting up 100 MW Solar Power Project at Gujarat.

🎯 Orchid Pharma :
Company gets USFDA nod for Risedronate Sodium Tablets.

🎯 Alkem Lab :
USFDA classifying the inspection conducted at its St. Louis facility as Official Action Indicated.

🎯 Future Supply Chain :
Company approved divesting/ sale up to 100% investment held by the company in Vulcan Express.

🎯 Mangalore Chemicals & Fertilizers :
Company shut down Ammonia, Urea and ABC plants in Mangalore City with effect from May 14.

🎯 Datamatics Global Services :
acquired balance 18.91% stake in Datamatics Digital for Rs.10.40 crore.

🎯 BLS International :
Company partners with Embassy of Lebanon.
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Edited by Sharp.