21st May, 2019 Morning Brief

Market may open on a flat-positive note after a jump witnessed on Monday.

Most of the exit polls indicate over 300 seats for the BJP-led NDA. The optimism of a stable government is reflected in Nifty already and if exit polls are right, more outperformance is ahead as market  expects stability and continuity in policy and the risk of fiscal worries may decline. Expect broader participation in mid and smallcap too as these were the most beaten down stocks in last 8 months.

U.S. equities sank Monday as the fallout from the White House’s moves against Chinese telecom giant Huawei battered technology shares and stoked trade jitters. It also impacted on Asian cues to trade lower this morning.

Nifty formed another strong bullish candle on the daily charts but with a gap. Nifty closed at all time high and may stretch towards 12000 but profit booking can't be ruled out before 23rd May. Now Nifty has formed a strong base around 11100 level and 11400 would be the immediate support in case of unexpected results of election broke out on this Thursday.

🎯 News & Impact 🎯

Major Results Today :

Tech Mahindra, DLF, Jindal Steel & Power

Results Updates :

🎯 Tata Motors (Q4, YoY) :
Revenue down 4 % to Rs.86,422 crore.
Net profit down 47 % to Rs.1,117.5 crore.

🎯 BPCL :
Revenue down 6.5 % to Rs.73,990 crore.
Net profit up 6.3 times to Rs. 3,125 crore.
Margin at 6.5 % versus 0.9 %.
Positive for the stock. 👍

🎯 HPCL (Q4, QoQ) :
Revenue down 5.8 % to Rs.67,938.1 crore.
Net profit up 12 times to Rs 2,969.9 crore.
Margin at 7.6 % versus 1.3 %.
Positive for the stock. 👍

🎯 Panacea Biotec :
Company's formulation facility in Himachal Pradesh received a U.S. FDA approval for manufacture and supply of Azacitidine Injection for the U.S. Market. This injection is a chemotherapy drug.

🎯 Adani Green Energy :
Company's promoters Adani Tradeline LLP and Universal Trade and Investments plan to sell cumulatively 5.59 percent stake in the company.

🎯 GAIL India :
Company to consider bonus issue on May 27.
Positive for the stock. 👍

🎯 ICICI Bank :
Bank entered into an agreement with the BSE and IFSC for acquiring 9.9 percent stake in India International Clearing Corporation (GIFT City) for Rs 33.85 crores.

🎯 Eros International Media :
Company promoter Eros Worldwide created pledge of 16.8 lakh shares from May 14-15.
Negative for the stock.

🎯 Adani Ports & SEZ :
Company promoter grouping Adani Trading LLP revoked pledge of 1.41cr shares on May 16.
Positive for the stock. 👍

🎯 Mercator :
Company promoter and director Harish Kumar Mittal and Archana Mittal invoked pledge of 10 lakh shares on May 14.
Positive for the stock. 👍

🎯 Coffee Day Enterprises :
Company Promoter Coffee Day Solutions created pledge of 8.64 lakh shares from May 8-16.
Negative for the stock.
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Edited by Sharp.