30th May, 2019 Morning Brief

Market open on a flat note today after a slide experienced yesterday.

Asian equities were mixed on Thursday after concerns about global growth sent U.S. shares lower overnight.

Yesterday, market snaps three trading sessions' rally and closed in red on profit booking. Sentiments remained pessimistic on weak global cues and depreciating rupee. 

Nifty has made a small bearish candle on the daily chart yesterday. Nifty50 has to sustain above 11960 level to regain 12050 mark but participants may wait for the proper boost either from RBI policy scheduled on 5th June or from the budget which can be declared in the month of July.

🎯 News & Impact 🎯

Major Results Today :

Coal India, SAIL, Relinfra

Results Updates :

🎯 PowerGrid :
Profit up 51.9 % at Rs.3,053.9 crore versus Rs 2,010.3 crore;
Revenue up 18 % at Rs.9,218 crore versus Rs.7,814.4 crore (YoY).
Positive for the stock. 👍

🎯 United Spirits Q4 :
Profit down 40.2 percent at Rs 126.2 crore versus Rs 211 crore;
Revenue down 3.5 % at Rs 2,250 crore versus Rs.2,173.7 crore (YoY).

🎯 BEL Q4 :
Profit up 19.7 % at Rs.668.6 crore versus Rs 558.7 crore;
Revenue up 7.3 % at Rs.3,884.6 crore versus Rs. 3,621.8 crore (YoY).

🎯 SJVN Q4 :
Profit jumps to Rs 458.9 crore versus Rs 132.2 crore;
Revenue spikes to Rs 805.2 crore versus Rs 344.8 crore (YoY).
Positive for the stock. 👍

🎯 International Paper APPM : Promoter group International Paper entered into an agreement with West Coast Paper Mills to sell its controlling stake in the company. As per the tender offer, West Coast Paper Mills will acquire 51 % to 60 percent stake in the company. International Paper holds 75 % stake in the company. 

🎯 Tata Power :
Company's two arms entered into agreement to sell their entire stake. 

🎯 IOL Chemicals and Pharma :
Board approved increasing capacity for Ibuprofen from 10,000 MT to 12,000 MT and for Iso Butyl Benzene from 9,000 MT to 12,000 MT, per annum respectively for a capex of Rs 1 crore.

🎯 JSW Energy :
Company promoter group Glebe Trading created pledge of 10 lakh shares on May 27. 
Negative for the stock.

🎯 Emami :
Company promoter groups created pledge of 28 lakh shares and revoked pledge of 1 lakh shares from May 24-28.
Negative for the stock.
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Edited by Sharp.