Market will open with a gap up backed by bounce-back in Asian markets.
Markets fell sharply tracking fall in global markets after Trump threatened to raise tariffs on $200bn worth of Chinese goods, casting doubts over trade talks scheduled this week. Nikkei India Services PMI slips to 7-month low at 51 in April.
Nifty formed a Doji kind of candle on the daily charts. Nifty can stretch the gains upto 11700 mark and it's interesting to see whether it will pop up above 11750 and could sustain. On the downside, it has a strong support at 11550 though 11180 could not be ruled out in this volatile scenario looking ahead because of election results.
🎯 News & Impact 🎯
Major Results Today :
VEDL.
Results Updates :
🎯 ICICI Bank (Q4, YoY) :
Net Interest Income up 26.5 % to Rs. 7,620 crore.
Net profit down 5 % to Rs.969 crore.
Gross NPA at 6.7 % versus 7.75 % (QoQ).
Positive for the stock. 👍
🎯 Bharti Airtel (Q4 Consolidated, QoQ) :
Revenue up 1.8 % to Rs.20,602 crore.
Net profit up 24.4 % to Rs.107 crore.
Ebitda up 6.7 % to Rs.6,632 crore.
Margins at 32.2 % versus 30.7 %.
Positive for the stock. 👍
🎯 Marico (Q4 Consolidated, YoY) :
Revenue up 8.7 % to Rs.1,609 crore.
Net profit up 2.2 times to Rs. 406 crore.
🎯 Wockhardt (Q4 Consolidated, YoY) :
Revenue down 3.8 % to Rs.979.1 crore.
Net loss of Rs.13.9 crore versus net loss of Rs.152.9 crore.
🎯 Gujarat Gas (Q4 Standalone, YoY) :
Revenue up 10 % to Rs.1907.6 crore.
Net profit up 76.5 % to Rs.116.5 crore.
Positive for the stock. 👍
🎯 Godrej Agrovet (Q4 Consolidated, YoY) :
Revenue up 12.5 % to Rs.1343.9 crore.
Net profit up 4.5 times to Rs.113.7 crore.
Positive for the stock. 👍
🎯 Great Eastern Shipping Corporation (Q4 Consolidated, YoY) :
Revenue up 26.7 % to Rs.974.4 crore.
Net profit at Rs.148.5 crore versus net loss of Rs.419.1 crore.
Positive for the stock. 👍
🎯 HDFC Bank :
Stock split.
Positive for the stock. 👍
🎯 Astec Lifesciences :
Company withdrew its merger proposal with Godrej Agrovet.
🎯 Alembic Pharma :
Company JV receives EIR from USFDA for Gujarat plant.
🎯 Strides Pharma :
USFDA recommends action against Strides Pharma Science Puducherry unit.
🎯 Dhanuka Agritech :
Company launched three new products in domestic market ranging from herbicides to pesticides.
🎯 UPL :
NACL entered into a long-term manufacturing contract with UPL for manufacturing agrochemical intermediates for Rs.75 crore per annum for six years.
🎯 Lemon Tree Hotels :
Company opened a 49-room property in Rajasthan.
🎯 Indian Overseas Bank :
Bank said that as a part of strategy to raise its capital by selling non-core assets it has identified 32 properties for sale including prime properties in Singapore and Hongkong aggregating in value to Rs.900 crore.
Positive for the stock. 👍
🎯 PNC Infratech :
Company executed share purchase agreement to sell 35 % stake in Ghaziabad Aligarh Road Project for Rs. 270 crore to Cube Highways.
🎯 Mcleod Russel :
Company completed sale of 45 percent stake in its Rwandan arm to Borelli and Rwanda Tea Company (U.K.).
🎯 Bharti Airtel :
To transfer its VSAT business undertaking to Hughes Communications India and HCIL Comtel on a going concern basis by way of slump sale.
🎯 Majesco :
Capgemini has signed an alliance partner agreement with Majesco for insurance business transformation.
🎯 CG Power :
Agreement terminated with Ganz Villamossagi Zrt and Alester Holdings with respect of the sale of assets and shares of the company's businesses in Hungary owned by the company's subsidiary, CG Electric Systems Hungary Zrt
🎯 Sun Pharma :
Company promoter Shanghvi Finance revoked pledge of 79.75 lakh shares on May 6.
Positive for the stock. 👍
🎯 Adani Enterprises :
Company promoter group Gautam Adani revoked pledge of 4 lakh shares on May 3.
Positive for the stock. 👍
🎯 Sterlite Technologies :
the promoters have informed that they have reached an "in-principle" agreement with their lenders, basis which they expect the removal of Pledge of Shares of the company to get completed by end of July, 2019.
Positive for the stock. 👍
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Edited by Sharp.
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