3rd May, 2019 Morning Brief

Market will open on a flat note today after a roller coster movement yesterday.

Bulls failed to keep the momentum going as bears pushed the index lower in the last half an hour of the trade on yesterday.

On the global front, U.S. stocks fell for a second day. 
Oil plunged yesterday with US crude dropping almost 3 % as the market grappled with oversupply fears as increased US sanctions on Iran had more gradual impact than expected and US crude oil inventories rose sharply.

Nifty formed a long leged doji on the daily chart yesterday. 11800 and 11550 are the levels to watch closely beyond which another momentum can be expected.

🎯 News & Impact 🎯

Major Results Today :
Hindunilvr.

Results Updates :

🎯 Larsen & Toubro Infotech (Q4, QoQ) :
Revenue up 0.5 % to Rs.2,486 crore.
Dollar revenue growth up 2 % at $353.8 million.
Net profit up 0.9 % to Rs.378.9 crore.

🎯 Blue Star (Q4, YoY) :
Revenue up 18.5 % to Rs.1,595.8 crore.
Net profit up 2.5 times to Rs. 79.8 crore.

🎯 Tata Power (Q4, YoY) :
Revenue up 0.2 % to Rs.7,230.2 crore.
Net profit down 95.5 % to Rs.57.6 crore.

Auto Sales :

🎯 Tata Motors :
Domestic commercial and passenger vehicles sales down 20 % to 42,577 units.
Exports down 53 % to 1,402 units.

🎯 Hero MotoCorp :
Two-wheeler sales down 17 % to 5.74 lakh units.

🎯 Alembic :
Company gets USFDA approval for Olopatadine Hydrochloride Ophthalmic Solution.
Positive for the stock. 👍

🎯 Capacite Infraprojects :
Company wins Rs.229cr order from Raymond Realty unit.
Positive for the stock. 👍

🎯 Lupin-Natco :
Lupin, Natco Pharma get USFDA nod to market generic hypertension drug.
Positive for the stock. 👍

🎯 L&T :
L&T-Construction awarded large contract for gold processing worth Rs.25-30bn.
Positive for the stock. 👍

🎯 DLF :
Transferred a retail mall in Noida to one of its subsidiaries for Rs.2,950 crore. The value was derived on the basis of the valuation report of an independent valuer.

🎯 Adani Enterprises :
Carmichael coal project hit with further setback. Queensland government rejects Adani’s plan to protect a rare species of finch.
Negative for the stock.

🎯 Ruchi Soya :
Patanjali Resolution plan won lenders’ approval.

🎯 HDFC Life Insurance :
Promoter Standard Life (Mauritius Holdings) 2006 to sell up to 3.6 crore shares, or 1.78 % stake in the open market.
Negative for the stock.

🎯 Ircon International :
Company received an order worth $91.27 million from the Sri Lankan Government for upgradation of railway tracks.

🎯 Persistent Systems :
Company joined Siemens partner program to bring industrial digital solutions to the market.

🎯 Grasim :
Company said its brownfield expansion of 45 TPD value-added specialty fibre capacity at Gujarat Plant has been fully commissioned and the commercial productions has commenced from May 1.

🎯 Nirlon :
Company promoter group Shital Trading & Interiors created pledge of 75,000 shares on April 18.
Negative for the stock.

🎯 Zuari Agro Chemicals :
Company promoter Zuari Management & Services created pledge of 15.6 lakh shares on April 25.
Negative for the stock.

🎯 Future Lifestyle Fashions :
Company promoter Ryka Commercial Ventures croreeated pledge of 40.4 lakh shares on April 27.

🎯 Apollo Hospitals Enterprise :
Company promoter group PCRORE Investments revoked pledge of 47.85 lakh shares on April 30.
Positive for the stock. 👍

🎯 Future Retail :
Company promoter Future Corporate Resources croreeated pledge of 37.9 lakh shares on April 27.
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Edited by Sharp.