8th May, 2019 Morning Brief

Market will open on a negative note today as slide in global markets continued.

U.S. equities fell by the most since March as investors remained on edge over President Donald Trump’s threat to increase tariffs on billions of dollars of imports from China which spooked the global investors in the morning also.

Bears took control of D-street in the last one hour of trade and pushed the Nifty50 below crucial support levels on Tuesday. It was a roller coaster ride yesterday as the market started with a positive note and remained in positive territory for almost time. At yesterday's closing, Nifty50 has broken down a consolidation phaze of last 23 sessions between 11,800 & 11,550 levels. Now Nifty has a support zone at around 11300 - 11350 and furthermore at 11180 level which may be tested at the time of election outcome.

🎯 News & Impact 🎯

Major Results Today :
TITAN.

New Listing :
Neogen Chemicals 

Results Updates :

🎯 Vedanta (Q4 Consolidated, YoY) :
Revenue down 15 % to Rs.23,468 crore.
Net profit down 46 % to Rs.2,615 crore.
Negative for the stock.

🎯 Ceat (Q4 Consolidated, YoY) :
Revenue up 4.4 % to Rs.1,760.5 crore.
Net profit down 16.6 % to Rs.64.3 crore.

🎯 ABB India (Q1 Calendar year 2019, YoY) :
Revenue up 18.1 % to Rs.1,850.3 crore.
Net profit up 13.4 % to Rs.116.2 crore.

🎯 Brigade Enterprises (Q4 Consolidated, YoY) :
Revenue up 75.3 % to Rs.760 crore.
Net profit up 3.3 times to Rs.59.7 crore.

🎯 Dr Reddy's :
Company announces launch of Testosterone Gel, 1.62%.

🎯 Unichem Labs :
Company gets USFDA tentative nod for allergic rhinitis drug.

🎯 Lupin :
Company gets tentative USFDA approval for Fosaprepitant.

🎯 Alembic Pharma :
Company entered into a joint venture contract with SPH Group and Adia to promote and sell pharma products for the Chinese markets.

🎯 Biocon :
Company retained economic interest in global commercialization of Hulio, a biosimilar drug which is licensed by Mylan and will gain a share of profits from global markets.

🎯 Zee Entertainment :
Essel Group said Zee Entertainment stake sale at advanced stage. 
Negative for the stock.

🎯 Dewan Housing Finance :
Company received the National Housing Bank’s nod to sell entire stake of 9.15 percent in Aadhar Housing Finance to Blackstone’s arm.

🎯 FDC :
Company said that a fire incident occurred in its Maharashtra plant on May 3. The company said production was disrupted for a few hours and there will not be any significant impact on the operations of the company and it also has adequate insurance coverage.

🎯 Vakrangee :
Company announced alliance with Dish TV for distribution of subscription recharge and providing collection services.

🎯 MindTree :
Launches QuikDeploy to Accelerate SAP S/4HANA Transitions

🎯 Ingersoll-Rand (India) :
Gardner Denver Holdings makes an open offer to acquire 82.07 lakh shares (26 percent stake) from public shareholders at Rs. 592.02 per share.

🎯 Trigyn Technologies :
UNAIDS has signed a non-exclusive Long-Term Agreement (LTA) with Trigyn Technologies' wholly owned subsidiary Trigyn Technologies Inc.

🎯 Emami :
Company promoters created pledge of 44 lakh shares on April 30.
Negative for the stock.

🎯 Jubilant FoodWorks :
Company promoter Jubilant Consumer revoked pledge of 39.72 lakh shares from May 2-3.
Positive for the stock. 👍

🎯 Mcleod Russel :
Company promoter Woodside Parks invoked pledge of 21.42 lakh shares from April 30-May 3.
Positive for the stock. 👍

🎯 Mercator :
Company promoter & director Harish Kumar Mittal invoked pledge of 17.5 lakh shares from April 30-May 3.
Positive for the stock. 👍
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Edited by Sharp.