6th May, 2019 Morning Brief

Market will open with a gap down as Asian equity markets were roiled after President Donald Trump’s threat to increase tariffs on Chinese imports cast a cloud over talks this week that were expected to finalise a trade deal. US market futures also trading with a 2% slide.

The rally in U.S. stocks on Friday, picked up pace after the long-awaited jobs report boosted optimism in the world’s largest economy.

Nifty has got stuck in between 11,550 to 11,856 levels from the last 22 trading sessions and this consolidation has been contracted to 11564 and 11796 levels from last eight session. Corporate earnings, Factory factory output, manufacturing growth & US China trade talks progress will be the factors that may keep market volatile this week.

🎯 News & Impact 🎯

Major Results Today :
Bharti Airtel, ICICI Bank

Results Updates :

🎯 HUL (Q4, YoY) :
Revenue up 9.3 % to Rs.9,945 crore.
Net profit up 13.8 % to Rs.1,538 crore.

🎯 LIC Housing Finance Q4 :
Net profit up 16.7% at Rs 693.6 crore versus Rs.594.3 crore;
Revenue up 20.1% at Rs 4,655.1 crore versus Rs 3,877.6 crore, YoY.

🎯 L&T Technology Services (Q4, QoQ) :
Revenue up 2 % to Rs.1,343.1 crore.
Net profit up 3.2 % at Rs.191.5 crore.

🎯 Tata Chemicals (Q4, YoY) :
Revenue up 8 % to Rs.2,759.4 crore.
Net profit down 65 % to Rs.408.7 crore.

🎯 PTC India Financial Services (Q4, YoY) :
Revenue up 11.5 % to Rs.330.81 crore.
Net profit at Rs. 36.75 crore versus net loss of Rs.264.67 crore.

🎯 Cadila Healthcare : 
Received 14 observations on its formulations manufacturing facility in Moraiya, Ahmedabad (Gujarat) from U.S. FDA.

🎯 Bharti Airtel :
Africa unit is said to raise about $1 billion from London listing and target a trading debut in June. The unit is seeking an equity valuation of about $5 billion: Bloomberg.

🎯 Vodafone Idea :
Signed a $700-800 million (Rs 4,900 crore-5,600 crore) 5-year technology outsourcing contract with IBM.

🎯 Indiabulls Housing Finance, Lakshmi Vilas Bank, Indiabulls :
Companies amend merger proposal agreement.

🎯 Hyderabad Industries :
Commenced the final phase production of its pipe and fittings at Gujarat plant. This phase of production will add capacity of 2,916 million tonne per annum.

🎯 Amber Enterprises :
Completed the acquiring 80 % stake in Sidwal Refrigeration with effect from May 2. 

🎯 ONGC :
Restored operations at its field off India’s east coast after Cyclone ‘Fani’ made landfall without causing any disruption to its offshore installations.

🎯 Yes Bank :
RBI imposed a penalty of Rs.11.25 lakh due to violations in issuance and operation of prepaid instruments.

🎯 IndiGrid :
Company to buy $1.66 billion of Sterlite assets after capital infusion by KKR, GIC.

🎯 Tata Steel :
ThyssenKrupp said on Sunday it still saw scope for agreement with European antitrust regulators on a planned joint venture with Tata Steel despite a Financial Times report that Brussels was likely to block the deal. 

🎯 PNC Infra :
Company to sale entire stake (15.12%) in Ghaziabad Aligarh Expressway to Cube Highways and Infrastructure PTE.

🎯 Bharat Road Network :
Company has entered into a share purchase agreement with Cube Highways and Infrastructure Pte for sale of its holding in Ghaziabad Aligarh Expressway.

🎯 Sun Pharma :
Company promoter group Shanghvi Finance revoked pledge of 36 lakh shares on April 26.
Positive for the stock. 👍

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Edited by Sharp.