9th May, 2019 Morning Brief

7Market will open with a negativeness today after 3 days' slide.

US markets turned to negative at the time of closing ahead of trade talks between US and China this week. The same jeopardise Asian cues today.

Nifty has formed another bearish candle on the daily chart yesterday which is for 6th day in a row. Nifty may find a support around 11300 - 11350 zone and we can expect a pull-back upto 11500-11550.

🎯 News & Impact 🎯

Major Results Today :

Asian Paints, HCL Technologies, Voltas, Mahanagar Gas.

Results Updates :

🎯 Titan (Q4, YoY) :
Revenue up 20.7 % to Rs.4,671 crore.
Net profit up 4.4 % to Rs 294.6 crore.

🎯 KEC International (Q4, YoY) :
Revenue up 4.9 % to Rs.3,841.2 crore.
Net profit down 0.9 % to Rs.193.9 crore.

🎯 Tata Communications (Q4, QoQ) :
Revenue down 0.6 % to Rs.4,243.5 crore.
Net loss at Rs.198.5 crore versus net profit at Rs.173.8 crore.

🎯 Shriram Transport Finance (Q4, YoY) :
Net Interest Income up 5 % to Rs.1,931.2 crore.
Net profit down 22.4 % to Rs 746 crore.

🎯 Glenmark Pharma :
Says Ryaltris Phase III study met primary endpoint and positive results were seen.

🎯 Dilip Buildcon :
Company’s arm received financial closure for hybrid annuity model project in Maharashtra worth Rs.1,141 crore.

🎯 TVS Motor :
Company’s Singapore arm to invest Rs 11.2 crore in Tagbox Solutions. The target company provides supply chain solutions.

🎯 Shree Renuka Sugars :
Company’s Mauritius arm entered a term-sheet with a potential investor to explore a transaction, which may result in the company ceasing to hold more than 50 % stake in its Mauritius arm.

🎯 Bharat Financial Inclusion :
Company completed its first direct assignment transaction worth Rs 1,107.4 crore for the financial year 2020.

🎯 Zee Entertainment Enterprises :
Catalyst Trusteeship sold 86 lakh shares or 0.9 % equity to Rs.342.3 each.

🎯 Vodafone Idea :
Vodafone Group’s international and domestic promoters pledged 44.39 % stake of the company to a group of seven international banks.

🎯 Future Lifestyle Fashions :
Company promoter Ryka Commercial Ventures created pledge of 27.5 lakh shares on May 7.
Negative for the stock.

🎯 Eros International :
Media promoter Eros Worldwide created pledge of 27.5 lakh shares from May 3-6.
Negative for the stock.

🎯 Emami :
Company promoters created pledge of 19.4 lakh shares from April 20-May 7.
Negative for the stock.
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Edited by Sharp.