16th May 2019, Morning Brief

Market will open on a flat note today after yesterday's fall in the last hour.

Asian equities traded mixed. The yen climbed and sovereign bond yields dropped as weak U.S. consumer data added to concerns about escalating trade tensions and their impact on the global economy.

U.S. stocks rebounded for second day on signs the Trump administration is working toward easing tensions with trade partners.

It was a volatile Wednesday as Nifty moved in a range of 150 points. After starting the day on a positive note, bulls failed to retain control on D-Street. Nifty has an immediate support at 10070-11108 range and below that it may haults at around 10800.

Major Results Today :

Bajaj Finance, Bajaj Finserv, Hindalco.

🎯 News & Impact 🎯

Results Update :

🎯 Lupin :
USFDA completed inspection at Aurangabad manufacturing facility with 3 observations.
Cautious over the stock.

🎯 Kesoram Industries (Q4, YoY) :
Revenue up 5.2 % to Rs.1,036.6 crore.
Net profit at Rs.20.8 crore versus net loss of Rs.158.2 crore.
Positive for the stock. 👍

🎯 Manappuram Finance (Q4, YoY) :
Net interest income up 16.6 % to Rs. 697.9 crore.
Net profit up 43.3 % to Rs.256.9 crore.
Positive for the stock. 👍

🎯 KPIT Technologies (Q4, QoQ) :
Revenue up 3.6 times to Rs. 501.3 crore.
Net profit up 25.4 % to Rs.30.1 crore.
Positive for the stock. 👍

🎯 Phoenix Mills (Q4, YoY) :
Revenue up 65.6 % to Rs.723.2 crore.
Net profit up 2.5 times to Rs. 228.4 crore.
Positive for the stock. 👍

🎯 Jammu & Kashmir Bank (Q4, YoY) :
Net interest income up 42 % to Rs.931.3 crore.
Net profit up 7.6 times to Rs. 214.8 crore.
Positive for the stock. 👍

🎯 Tata Chemicals :
The Tata Group will bring its consumer businesses under one unit as the salt-to-software conglomerate continues restructuring to streamline its operations. Tata Chemicals Ltd.will demerge its food business to Tata Global Beverages Ltd. Shareholders will get 114 shares of Tata Global for every 100 held in Tata Chemicals.

🎯 Nava Bharat Ventures :
Zambian arm realised over 70 % of total amounts billed since synchronization of the power plant with the grid and debt of the arm has reduced by 25 % as on March 31.

🎯 Zuari Agro Chemicals :
Company said that one of its two Granulation plant will be shut down till further intimation.

🎯 Himachal Futuristic :
Acquired Raddef Pvt. Ltd. for Rs 90,000. HFCL to make further investments worth Rs 20 crore in this acquired unit.

🎯 Balaji Amines :
Company received consent to operate by Pollution Control Board for expansion of existing products and addition of four new products at its Maharashtra Unit at MIDC Chincholi.

🎯 IFB Industries :
Company completed the transaction of acquisition of Industrial Laundry Equipment business from Ramsons Group.

🎯 Ramgopal Polytex :
Company approved the proposal of voluntary delisting of equity shares of the company from National Stock Exchange of India.
Negative for the stock.

🎯 Future Retail :
Company promoter Future Corporate Resources revoked pledge of 4 lakh hares on May 13.
Positive for the stock. 👍

🎯 Future Enterprises :
Company promoter group Central Departmental Stores revoked pledge of 1.75 lakh shares on May 13.
Positive for the stock. 👍

🎯 Apollo Tyres :
Company promoters pledged 31.15 lakh shares on May 13.
Negative for the stock.
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Edited by Sharp.