27th May, 2019 Morning Brief

Market will open on a positive note today after Friday's rally.

Nifty has made a bearish candle on the daily chart on Friday. A decisive closing above 12050 is very crucial for a kick-start of a mega bull run but before that many things like RBI Credit policy, budget, monsoon arrival and its percentage, crude oil prices and US China trade truce should be watched keenly.

U.S. stocks rose Friday on thin volume before the holiday weekend, but the gains weren’t enough to compensate for a week of market turmoil stoked by trade tensions.

🎯 News & Impact 🎯

Major Results Today :

Adani Ports & SEZ, GAIL, Zee Entertainment, Oil India, BHEL, PTC India.

Major Results Updates :

🎯 Grasim Industries (Q4, YoY) :
Company Revenues up 16.1 % to Rs. 5,352.3 crore.
Net profit up 20.9 % to Rs. 451.2 crore.
Positive for the stock. 👍

🎯 Indraprastha Gas (Q4, YoY) :
Revenue up 27.1 % to Rs.1,542.6 crore. Net profit up 29.1 % to Rs.225.5 crore.
Positive for the stock. 👍

🎯 REC (Q4, YoY) :
Net interest income up 26.7 % to Rs. 2,332.4 crore.
Net profit up 49.6 % to Rs.1256.1 crore.
Positive for the stock. 👍

🎯 NTPC Q4 :
Profit up 48.7 % at Rs. 4,350.2 crore versus Rs 2,925.6 crore;
Revenue down 8 % at Rs. 21,222.4 crore versus Rs.23,100.3 crore (YoY).

🎯 NBFC :
NBFCs will be in focus as RBI has suggested tighter liquidity norms. RBI has sought feedback on these guidelines by June 14, 2019.

🎯 Biocon :
Company’s new drug application for Pemetrexed Disodium received tentative approval from the U.S. Food and Drug Administration on May 23.

🎯 Music Broadcast :
Company terminated its Business Transfer Agreement to acquire radio business of Ananda Offset’s ‘Friends 91.9 FM’ on account of uncertainty of receipt of regulatory approval.

🎯 Suzlon Energy Ltd. :
Company to sell 26 % stake each in its two arms cumulatively for Rs 30 crore.

🎯 Omaxe :
Company entered into an agreement to sell its arm to Darshita Landed Property for Rs.88.2 crore.

🎯 V-Mart Retail :
Company opened two new stores in Uttar Pradesh and Madhya Pradesh.

🎯 Majesco :
Promoter Sudhakar Ram sold 2 lakh shares or 0.71 percent equity at Rs 512.5 each.

🎯 Emami :
Company promoter groups revoked pledge of 57 lakh shares on May 22.

🎯 JSW Energy :
Company promoter group Glebe Trading revoked pledge of 10 lakh shares on May 2.