20th May, 2019 Morning Brief

Market will cheer the sentiment backed by the exit polls in favour of modi Govt
to continue its 2nd term with majority more than 300 seats to open with a gap-up.

Asian equities rose from a five-month low and U.S. equity futures advanced as investors awaited the next chapter in the Sino-American trade dispute. U.S. stocks fell for the first time in four days, with technology shares bearing the brunt of the selling in a market rattled by a barrage of trade-related headlines.

As mentioned earlier Nifty has formed the base at around 11100 and now any unlikely even may violate that base. 11800 can be a major hurdle to close above going ahead beyond 12000 mark.

🎯 News & Impact 🎯

Major Results Today :

BPCL, Tatamotors, Hindpetro

🎯 Cipla :
Company received zero observations from the U.S. FDA after a post-approval inspection was undertaken in company’s Indore facility from May 13-17.

🎯 Godrej Industries :
Spencer’s Retail to acquire 100 percent stake in Nature’s Basket. Stake to be bought from Godrej Industries for Rs.300 crore.

🎯 Reliance Capital :
Relcapital Offers Nippon Life To Acquire Up To 42.88% Stake Held by company.

🎯 Alkem Laboratories :
Company received Form 483 with four observations from the U.S. FDA after inspection of its Baddi plant from May 13-17. The company says it will put together a response with adequate corrective and preventive measures.

🎯 NIIT :
Company completed transfer of its entire shareholding in NIIT Technologies to Hulst B.V. in an off-market trade and received the consideration of Rs 2,020.4 crore.

🎯 Sundaram Clayton :
Company inaugurated its first overseas facility in USA at a project cost of Rs 630 crore, operations to commence by September.

🎯 Fortis Healthcare :
Company's Mauritius arm entered into an agreement to sell its entire 28.9 percent stake in Medical and Surgical Centre Limited to CIEL. The company will receive MUR 393.6 Million, or around Rs 78.3 crore, based on the completion of the agreement.

🎯 Welspun Enterprises :
Company received provisional completion certificate for commencing commercial operation of the Dewas Industrial Water Supply Project with effect from April 30.

🎯 PNC Infratech :
Company received the final arbitration award of Rs.145.6 crore related to Narela Annuity.

🎯 TRF :
Company to sell 100 % stake in Dutch Lanka Trailer and 50 % stake in Tata International DLT for Rs.167.5 crore to CANYON Point Investment Holdings Pte Ltd.

🎯 Max Financial Services :
Company promoter group Max Ventures Investment Holdings created pledge of 42,000 shares on May 15.

🎯 Forbes :
Forbes & Co promoter Shapoorji Pallonji created pledge of 19.23 lakh shares on May 16.

🎯 Future Life Fashions :
Company promoter Ryka Commercial Ventures created pledge of 3 lakh shares on May 16.

🎯 Apollo Tyres :
Company promoters created pledge of 32.7 lakh shares on May 13.

🎯 Apollo Hospitals Enterprises :
Company promoter & director Suneet Reddy revoked pledge of 13lk shares and created a pledge of 13 lakh shares on May 14.
Positive for the stock. 👍

🎯 JSW Energy :
Company promoter group Indusglobe Multiventures created pledge of 5.92 lakh shares on May 14.

🎯 Mcleod Russel :
Company promoter Woodside Parks invoked pledge of 21.42 lalkh shares from April 30-May 3.
Positive for the stock. 👍

🎯 Mindtree :
Company created pledge 3.27 crore shares in favour of IDBI Trusteeship Services (non-promoter) on May 2.
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Edited by Sharp.