1st July 2019, Morning Brief

Stocks in Asia climbed along with U.S. equity futures after the American and Chinese presidents reached a truce in the trade war and agreed to resume talks.

U.S. stocks rose for the second day, notching the best month since January on optimism the U.S. and China will make progress during trade talks this weekend.

Key Events/Data To Watch This Week

July 1: Automakers to report sales data for June.
July 1: India Manufacturing PMI data for June.
July 3: Indian Services and Composite PMI for June.
July 4: India’s economic survey.
July 5: Finance Minister Nirmala Sitharaman to present Union Budget for
OPEC+, a wider coalition that includes Russia, meets in Vienna Tuesday.
Energy ministers from Saudi Arabia and Russia are likely to speak at the press conference following the meeting.
The U.S. jobs report is due Friday and is projected to show nonfarm payrolls rose by 160,000 in June, rebounding from a reading of 75,000 the month prior. 

🎯 News & Impact 🎯

🎯 Eveready Industries :
Price Waterhouse resigned as statutory auditor on June 28 citing its inability to analyse the impact of financial support extended by the battery maker to its promoter group entities.

🎯 Eveready Industries :
Board also entered into agreement with Madhu Jayanti International to sell assets worth Rs.6 crore relating to packed tea product business.

🎯 Reliance Home Finance :
Company failed to repay the principal obligations on its non-convertible debentures held by Reliance Mutual Fund, worth Rs.400 crore.
Negative for the stock. 👎

🎯 Adani Power :
Board approved the proposal for the acquisition of insolvent firms Korba West Power Company and GMR Chhattisgarh Energy, in a move that would pave the way for the Gautam Adani-led group flagship to expand capacity.

🎯 Mahanagar Gas :
Increased CNG and PNG prices by Rs 0.32/kg and Rs 0.23/standard cubic meter to Rs 51.99/Kg and Rs 31.79/SCM respectively. The hike in gas prices is to pass on the increase in pipeline tariffs.

🎯 Reliance Capital :
Deferred declaration of results.

🎯 ABB :
National Company Law Tribunal approved proposed Scheme of Arrangement between the company and ABB Power Products and Systems India Limited, (a wholly owned subsidiary).

🎯 Mahanagar Gas, Indraprastha Gas, Gujarat Gas :
PNGRB has introduced a concept paper in order to facilitate competition in geographical areas where marketing exclusivity has already expired for city gas distributors. 

🎯 Anant Raj :
Company entered into a joint venture with Birla Estates for development of two residential projects in Haryana. 

🎯 Inox Leisure :
Company commenced commercial operations of multiplex theatre in Hyderabad.

🎯 Datiware Maritime Infra :
Company commenced the work order received for fabrication and assembly of floating gates of drydocks for the end client Indian Navy.

🎯 NDTV :
Company received orders from IT department to pay penalty of Rs 74.4 lakh.
Negative for the stock. 👎

🎯 Sadbhav Engineering :
Company's arm Rohtak-Hissar Tollway has paid outstanding debt to lenders amounting to Rs 6.5 crore and cleared its pending dues.
Positive for the stock. 👍

🎯 Balkrishna Industries :
Company said that it has commenced the trial production of Phase 1 of Carbon Black project with capacity of 60,000 MT per annum in Gujarat.

🎯 Aavas Financiers :
Company has increased AFL lending rate by 25 basis points with effect from July 1.
Positive for the stock. 👍

🎯 Jet Airways :
Employee consortium and Adi Group announced partnership for acquisition of 75 % stake in the company through NCLT process.

🎯 Ugro Capital :
National Company Law Tribunal approved scheme of arrangement between Asia Pragati Capfin Private Limited and Ugro Capital Limited (formerly known as Chokhani Securities Limited).

🎯 Fortis Healthcare :
Religare Finvest barred from divesting assets without SEBI nod.
Negative for the stock. 👎

🎯 Kalpataru Power Transmission :
Company secured new orders worth Rs. 975 crore.
Positive for the stock. 👍

🎯 SJVN :
Company signed a MoU with North Eastern Electrical Power Corporation for joint development of power projects.

🎯 UPL :
Company's arm completed the acquisition of 100 % stake in Costa Rica’s Industrias Bioquim, which is engaged in the business of inorganic agricultural pesticides. Deal was announced on November 21, 2018.

🎯 ABC India :
Company received an order of Rs 137.70 crore from BHEL for multimodal transportation of export project cargo from India to the MSTPP Rampal Project in Bangladesh.

🎯 Amber Enterprises :
Company board extended timeline for acquiring balance stake of 51 percent in Ever Electronics by August 31. 

🎯 IOL Chemicals and Pharma :
Company made pre-payment of term loan of Rs 21.17 crore due to banks in addition to regular payment schedule.

🎯 NMDC :
Lump ore and fines prices remain unchanged at Rs.3,100 and Rs.2,860 per tonne respectively.

🎯 Deepak Nitrite :
Company through its wholly owned subsidiary Deepak Phenolics (DPL) achieves major milestone towards manufacture of phenol and acetone with average capacity utilisation of around 80 percent and having achieved peak capacity utilization of 100 % in Q4FY19 contributes Rs.927 crore to consolidated turnover of Rs. 2,715 crore.

🎯 ABC India :
Received an order of Rs.137.70 crore from BHEL for multimodal transportation of export project cargo from India to the MSTPP Rampal Project in Bangladesh.

🎯 Infibeam Avenues :
Promoters Infinium Communication and Infinity Drive sold 1 crore shares or 1.5 percent equity at Rs.44.65 each.
Negative for the stock.👎

🎯 Zee Entertainment Enterprises :
Company promoter Cyquator Media Services released pledge of 4.6 lakh shares, invoked pledge of 51.47 lakh shares and revoked pledge of 25.25 lakh shares between June 20-27.
Positive for the stock. 👍

🎯 Sical Logistics :
Company promoter Tanglin Retail Realty Developments created pledge of 5.18 lakh shares on June 19.
Negative for the stock. 👎

🎯 Jamna Auto :
Company promoter Map Auto released pledge of 5 lakh shares on June 27.
Positive for the stock. 👍

🎯 Aurobindo Pharma :
Company promoter Nityananda Reddy created pledge of 4.25 lakh shares on June 27.
Positive for the stock. 👍

🎯 JSW Steel :
Company promoters created pledge of 1.23 crore shares from June 25-27.
Negative for the stock. 👎

🎯 Apollo Hospitals Enterprise :
Company promoter and director Suneeta Reddy created pledge of 2.5 lakh shares on June 26.
Negative for the stock. 👎

🎯 Emami :
Company promoter groups created pledge of 30.8 lakh shares from June 24-25.
Negative for the stock. 👎

🎯 Hubtown :
Company promoter Falguni Shah invoked pledge of 2.5 lakh shares on June 27.
Positive for the stock. 👍

🎯 Infibeam Avenues :
Company promoter Infinium Auto Mall released pledge of 10 lakh shares on June 28.
Negative for the stock. 👎

🎯 DB Corp :
Company promoter DB Consolidated released pledge of 12.05 lakh shares on June 28.
Positive for the stock. 👍

🎯 Cox & Kings :
Company promoter Liz Traders and Agents invoked pledge of 9.16 lakh shares on June 28.
Positive for the stock. 👍

🎯 Sadbav Engineering :
Company promoter Shantaben Patel released pledge of 27.5 lakh shares on June 28.
Positive for the stock. 👍

🎯 Emami :
Company promoters release pledge on 5.1 % of their holding.
Positive for the stock. 👍

🎯 Apollo Hospitals :
Company promoters pledge additional 0.87 % of their holding.
Negative for the stock. 👎
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.

28th June, 2019 Morning Brief

Market will open on a positive note today after a volatile session yesterday.

Stocks in Asia saw a quiet open on Friday, ahead of the highly anticipated U.S.-China presidential meeting Saturday that could determine the next chapter in the trade war between the world’s two largest economies.

American stocks halted four days of declines as trade optimism reigned ahead of U.S.-China talks at the Group of 20 conference this weekend in Japan.

Now a days our markets are dancing on the different domestic as well as global events and incidents. Nifty has to surpass 11960 level to regain it's previous highs on expectations of Union budget scheduled in next week.

🎯 News & Impact 🎯

🎯 Persistent Systems :
To acquire 70 % stake in Youperience Ltd. for GBP 1.2 million (Rs 10.5 crore). 

🎯 Lupin :
Company received tentative U.S. FDA approval for Mirabegron ER Tablets, to market generic version for Myrbetriq ER Tablets of Astellas.
Positive for the stock. 👍

🎯 Sobha, Prestige Estate Projects, Brigade Enteprises, Puravankara : Government of Karnataka is planning to deny permission for building new apartments in Bengaluru for the next five years until the water crisis in the city is resolved. 
Negative for the stocks. 👎

🎯 Glenmark Pharma :
Company receives ANDA approval for Ezetimibe and Simvastatin Tablets, 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg.
Positive for the stock. 👍

🎯 Cox & Kings :
Company defaults on payments of Rs. 150 crore.
Negative for the stock. 👎

🎯 Vedanta :
Zambian High Court granted the company an order to stay the powers of the Konkola Copper Mines provisional liquidator to sell or dispose of KCM’s assets through public tender, or to make any arrangements with creditors, the company said in an emailed statement. 

🎯 Excel Industries :
Board approved acquisition chemical manufacturing unit of NetMatrix Cropcare for Rs.95 crore.

🎯 MMTC :
Company has considered sale of its stake in JV Company Neelachal Ispat Nigam.

🎯 Infosys :
McCamish Partners with Pan-American Life Insurance Group

🎯 BHEL :
Company issues termination notice to BHEL on steel plant contract.
Negative for the stock. 👎

🎯 Insilco :
Company's plant will remain shut down from June 27 to July 9 due to high inventory.
Negative for the stock. 👎

🎯 Max India :
Company to divest entire stake in Pharmax to group firm for Rs.61 Cr.

🎯 Wipro :
Company exits WAISL JV and sells remaining 11% share to Antariksh Softtech for Rs.55 lakh.

🎯 IL&FS :
Company unable to service NCDs interest due on June 27. 
Negative for the stock. 👎

🎯 JSW Energy :
Company promoters created pledge of 26 lakh shares and released pledge of 4.42 crore shares from June 18-19.
Negative for the stock. 👎

🎯 JSW Steel :
Company promoter Sahyog Holdings created pledge of 10 lakh shares on June 25.
Negative for the stock. 👎

🎯 Emami :
Company promoters revoked pledge of 59 lakh shares from June 21-24.
Positive for the stock. 👍

🎯 Kalpataru Power Transmission :
Company promoters revoked pledge of 40 lakh shares from June 24-25.
Positive for the stock. 👍

🎯 Gati :
Company promoter Mahendra Kumar Agarwal & Sons HUF created pledge of 25,000 shares on June 25.
Negative for the stock. 👎

🎯 Cigniti Technologies :
Company promoter Chakkilam Rajeshwari revoked pledge of 2.25 lakh shares on June 26.
Positive for the stock. 👍

🎯 Apollo Hospital Enterprise :
Company promoter Suneeta Reddy revoked pledge of 1.8 lakh shares on June 21.
Positive for the stock. 👍

🎯 Birlasoft :
Company promoter National Engineering Industries created pledge of 4.6 crore shares on June 24.
Negative for the stock. 👎

🎯 Adani Ports and SEZ :
Company promoter Gautam Adani & Rajesh Adani created pledge of 4.4 lakh shares on June 24.
Negative for the stock. 👎

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.

27th June, 2019 Morning Brief

Market will open on a positive note today.

Asian stocks edged up, though volumes were lower across the board, ahead of the highly anticipated meeting between Presidents Donald Trump and Xi Jinping set for Saturday morning.

Most U.S. stocks fell as trade concerns countered strength in the tech sector. Treasuries declined with gold after investors eased back bets on a deep cut to interest rates next month.

Nifty forms a bullish candle for the second consecutive day in a row. Apparently 11630 could be considered as a strong support whereas 11960 could be resistance level.

🎯 News & Impact 🎯

IPO Update :
Indiamart IPO gets 36.2 times demand. 

🎯 CreditAccess Grameen :
Company completed direct assignment of Rs.138.89 crore on June 26. 

🎯 MSTC :
Company signed agreement with Kerala State Electricity Board for providing e-procurement services for the state’s solar projects.

🎯 Welspun India :
Company has entered into a JV with Germany’s Sense Organics and has acquired 51 % stake in its Myanmar arm.

🎯 M&M :
Company’s wholly owned subsidiary has filed for voluntary liquidation and upon receipt of the Order dated June 26, 2019 has been liquidated and ceased to be in existence.

🎯 Sunteck Realty :
Company is aiming to create a large portfolio with an investment of Rs 5000 crore in commercial and retail properties over the next four years.

🎯 Coffee Day Enterprises :
Company promoter and director VG Siddhartha created pledge of 16.23 lakh shares from June 18-21.
Negative for the stock. 👎

🎯 Emami :
Company promoters created pledge of 1.06 crore shares on June 21.
Negative for the stock. 👎

🎯 Birlasoft :
Company promoter National Engineering Industries created pledge of 4.6 crore shares on June 26.
Negative for the stock. 👎

🎯 Gati :
Company promoter Mahendra Kumar Agarwal and Sons HUF created pledge of 25,000 shares on June 26.
Negative for the stock. 👎

🎯 Kalpataru Power Transmission :
Kotak Mahindra Investments released pledge of 5 lakh shares, Axis Finance released pledge of 13 lakh shares and Aditya Birla Finance released pledge of 22 lakh shares from June 24-25.
Positive for the stock. 👍

🎯 Hubtown :
Company promoter Hemant Shah invoked pledge of 1 lakh shares on June 17.
Positive for the stock. 👍

🎯 Mcleod Russel :
Company promoters invoked pledge of 19 lakh shares on June 21.
Positive for the stock. 👍
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.

26th May, 2019 Morning Brief

Market will open on a weak note today after yesterday's fall in US markets.

The U.S. markets fell the most in three weeks after federal Reserve Chairman Powell warned of potential risks impacting the U.S. economy.

Asian stocks were mixed at the open Wednesday after Federal Reserve Chairman Jerome Powell warned the downside risks to the U.S. economy have increased and doubts emerged on progress toward a China trade deal.

🎯 News & Impact 🎯

🎯 NTPC :
Wins 40 MW of Solar capacities in UPNEDA’S 500 MW Tender. Wins bid at Rs.3.02/KWH levelized tariff.

🎯 GVK Power :
GVK Deoli Kota Expressway Private Limited, a step-down subsidiary of GVK issued notice of termination to NHAI on account of material breach and defaults on the part of NHAI.

🎯 Transpek :
Company to gradually start operations in Gujarat factory and production shall be ramped up to capacity in coming 7-10 days as the closure letter received from Gujarat Pollution Control Board has been revoked.

🎯 Torrent Power :
Gujarat Electricity Regulatory Commission (GERC) approved the power procurement arrangement of 278 MW between the Company's UNOSUGEN Power Plant (capacity of 382.5 MW) and its Licensed Distribution Business for cities of Ahmedabad, Gandhinagar and Surat

🎯 DHFL :
The Company has made proportionate payment of 40 % i.e Rs.150 crore towards maturity of the commercial papers of aggregate value of Rs.375 crore and the balance of Rs. 225 crore will be paid once the surplus cash flow position improves over the next couple of days.

🎯 IFCI :
Seeks to sell non-core assets and investments.

🎯 Mindtree :
L&T gets controlling stake in company.

🎯 SpiceJet :
Company launches eight new non-stop international flights.

🎯 Panorama Studios International :
Company and PVR Pictures collaborate to distribute films in India.

🎯 Adani Power :
Consortium of lenders, led by Axis Bank has approved the resolution plan to acquire controlling stake and restructure debt of GMR Chhattisgarh Energy Ltd.

🎯 TV Today Network : HDFC MF increased stake to 7.14 percent from 5 percent after acquiring an additional 2.14 percent from open market on June 24.

🎯 Asian Paints :
LIC sold 2 percent stake in Asian Paints, reducing its stake to 3 percent in total.

🎯 Emami :
Diwakar Viniyog (promoter group) sold 2 percent stake in company on June 24 via open market.

🎯 Bombay Burmah :
Company promoters pledged 2.2 lakh equity shares.

🎯 Himachal Futuristic :
Company promoters pledged 3.38 crore equity shares.

🎯 Future Retail :
Company promoters pledged 2,35,620 equity shares.

🎯 Zuari Agro Chemicals :
Company pledged 5 lakh equity shares.

🎯 Wockhardt :
Company promoters pledged 3 lakh equity shares.

🎯 Reliance Infrastructure :
Company released pledge on 1,80,995 equity shares.

🎯 Future Lifestyle :
Company promoters released pledge on 3.5 lakh equity shares.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

25th June, 2019 Morning Brief

Market will open on a negative side today.

Stocks in Asia drifted Tuesday with little direction from a lacklustre U.S. session.

U.S. stocks edged away from records as investors weighed expectations for easier monetary policy against concerns about a slowing global economy.

🎯 News & Impact 🎯

🎯 IFCI :
Board approved the sale of remaining 2.4 % stake in NSE.

🎯 BHEL and Axis Bank :
LIC sold 2 % stake in both the companies. 

🎯 TCS :
Acquired 15 % stake from Mitsubishi Corporation in TCS Japan for JPY 3.5 billion ($ 32.6 million). 

🎯 Infosys :
Formed strategic partnership with Toyota Material Handling Europe. Signs long-term Agile Integrated Application and Infrastructure Management agreement.

🎯 Piramal Enterprises :
Looking to sell the entire 20 % stake in Shriram Capital Limited as a part of the long-term strategy to fund growth of its financial services business. 

🎯 Gujarat Borosil :
Set up new additional furnace of 210 TPD for production of solar glass at its existing plant in Bharuch District of Gujarat and has started trial production today.

🎯 L&T Technology Services :
L&T to sell up to 2 lakh equity shares at Rs 1650 per equity share (discount of 5.8 percent).

🎯 SBI Life Insurance :
BNP Paribas to sell up 2.5 crore shares of company via OFS on June 25, 26; floor price set at Rs.650 per share.

🎯 GMR Infra :
Company promoter bought 1.9 crore equity shares from open market.
Positive for the stock. 👍

🎯 JSW Steel :
Company promoter released pledge on 15.5 lakh equity shares.
Positive for the stock. 👍

🎯 Max India :
Company promoter pledge additional 1 crore equity shares.
Negative for the stock.

🎯 Emami :
Company promoters pledge additional 92.34 lakh equity shares.
Promoters sell 4.54 crore shares or 10 percent equity at an average price of Rs 271.325 each.
Negative for the stock.

🎯

24th June, 2019 Morning Brief

Market will open on a flat note today.

Stocks in Asia opened mixed, while U.S. futures edged higher, as investors monitor geopolitical risks and plans for the high-stakes meeting between Presidents Donald Trump and Xi Jinping.

U.S. stocks closed lower after touching record highs as an escalation of tensions with Iran cooled this week’s rally in risk assets sparked by dovish central banks.

The last week was a volatile one for the Indian market. Nifty, after reclaiming 11,800, failed to keep the momentum going as geopolitical concerns spoiled the party for bulls. Going ahead, 11633 will be the support to consider and 11420 if it's broken.

🎯 News & Impact 🎯

New IPO : IndiaMart InterMesh.

🎯 CG Power :
Signed an agreement to sell remaining portion of land situated at Kanjurmarg to M/s. Evie Real Estate Pvt. Ltd. for Rs 499 crore.
Positive for the stock. 👍

🎯 Infy :
Nandan Nilekani seeks reappointment as Director of company.
Positive for the stock. 👍

🎯 Alkem Laboratories :
Company received tentative approval from the US FDA for Roflumilast drug that is used for the treatment of inflammatory conditions of lungs.
Positive for the stock. 👍

🎯 Gruh Finance / Bandhan Bank :
National Company Law Tribunal approves the merger of Gruh Finance with Bandhan Bank.

🎯 Jain Irrigation :
Company's long term issuer default rating downgraded to ‘B-’ from ‘B+’, and has been placed on rating watch negative. The downgrade reflects the deterioration in the company’s leverage and liquidity following a weaker than expected operating performance, stretched working capital position and management's aggressive focus on growth in the financial year ending March 2019.

🎯 Max India : Radiant Life completed the purchase of 49.7 percent stake in Max Healthcare from Life Healthcare. 

🎯 Glenmark :
The US FDA issued a Complete Response Letter for Ryaltris and cites deficiencies in the Drug Master File for the drug. The company sees resolution in the the next six to nine months.

🎯 Dr. Reddy :
Company launched Phytonadione Injectable Emulsion USP in the U.S. market. The product had combined U.S. sales of approximately $46.6 million in the last 12-months ending April 2019.

🎯 Dr. Reddy :
Audit of Vizag SEZ Plant 1 and Plant 2 at Duvvada, Visakhapatnam by the U.S. FDA was completed on June 21. Company has been issued Form 483 with two observations.

🎯 BHEL :
Won an order valued Rs 840 crore for emission control equipment from Nabinagar Power Generating Company Ltd. – subsidiary of NTPC Ltd. Order involves supply and installation of Flue Gas Desulphurization (FGD) system in Aurangabad district of Bihar.

🎯 Sobha Developers :
Promoter Sobha Menon sold 4.22 % stake.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.

21st June, 2019 Morning Brief

Market will open on a flat note after a bounce back on yesterday.

U.S. stocks rose to a record, while sovereign bonds extended gains and the dollar slumped after central banks around the world continued a shift toward easier monetary policy.

Nifty formed a strong bullish candle or a bullish engulfing pattern on the daily charts
The index closed above its crucial resistance level of 11800, and wiped out most of the losses seen in previous 3 sessions. Now Nifty has a barrier at 11960 to cross to reclaim 12k mark.

🎯 GAIL :
Company has fixed 10th July as a record date for 1:1 bonus share.
Positive for the stock. 👍

🎯 Tata Motors :
Company’s corporate family rating and the company's senior unsecured instruments rating to Ba3 from Ba2. downgrade reflects the sustained deterioration in credit profile led by the weak performance of its 100 percent owned subsidiary Jaguar Land Rover.
Negative for the stock.

🎯 Glenmark Pharma :
Company gets tentative USFDA nod for Clindamycin Phosphate Foam

🎯 Bharti Airtel :
Africa unit may list in Nigeria on July 4.

🎯 Suzlon lenders poised to meet Friday on debt restructuring plan.

🎯 NTPC :
Company wins 160MW solar capacities in SECI sectors.

🎯 Jain Irrigation :
S&P downgrades Jain Irrigation to B-/watch negative from B+/stable.

🎯 Balaji Telefilms :
Company completed sale of rights for upcoming slate of four movies for over Rs 100 crore to Pen Marudhar Entertainment.

🎯 Welspun Corporation :
Company commenced production of pipes at spiral pipe plant in Jamunia in MP.

🎯 Maruti Suzuki :
Company increased price in all variants of Dzire. 

🎯 Wipro :
Company launched Pivotal Software Center of Excellence in Dallas, Texas.

🎯 Sunil Hitech :
Resolution Professional has filed for liquidation of the company on receipt of any resolution plan within the stipulated time period of 270 days under CIRP.

🎯 About 14 lakh shares or 1.93 percent equity of Eveready Industries were invoked by Vistra (ITCL) India Ltd (Trustee for the joint lenders namely- IL&FS Financial Services, IL&FS Infra Debt fund, Aditya Birla Finance

🎯 Apollo Tyres :
Promoter pledge additional 34.5 lakh shares.

🎯 Max Financial Services :
Company promoter pledge additional 12.3 lakh shares.

🎯 Zuari Agro Chemical :
Company promoter pledge additional 3 lakh shares.

🎯 Satin Creditcare :
Company promoter pledge additional 5 lakh shares.

🎯 Emami :
Company promoter pledge additional 6.99 lakh shares.

🎯 Coffee Day Enterprises :
Company promoter (V G Siddhartha) pledge additional 16.9 lakh shares.

🎯 Max India :
Company promoter pledge additional 1.66 crore shares.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.

20th June, 2019 Morning Brief

Market will open on a negative note today after a volatile session on yesterday.

The US Federal Reserve held interest rates steady on June 19 but signalled possible rate cuts of as much as half a percentage point over the remainder of this year, as it responded to increased economic uncertainty and a drop in expected inflation.

Asian stocks were mixed after the Federal Reserve struck a dovish tone in its latest policy statement. US markets managed to remain in positive territory after Federal Reserve kept rates unchanged.

🎯 News & Impact 🎯

🎯 Adani Green :
Company won bids for setting up 600 MW wind-solar hybrid power project by Solar Energy Corporation of India. 
Positive for the stock. 👍

🎯 Apollo Hospitals :
Company to sell entire 10 percent stake in Apollo Munich for Rs. 300 Crores.
HDFC to buy 51% stake in Apollo Munich Health Insurance. Apollo Munich will be merged with HDFC Ergo General Insurance. 
Positive for the stock. 👍

🎯 Bharti Airtel :
Company's African unit files application for listing on Nigerian Stock Exchange.

🎯 Jet Airways :
NCLT to hear grounded Jet Airways' insolvency plea on June 20.

🎯 M&M :
Company to hike price of its range of personal vehicles by up to Rs.36000 from July 1.

🎯 Blue Star :
Company bags order from Mumbai Metro Rail Corp worth Rs2.53bn.

🎯 L&T :
Company wins water supply project contract in Sri Lanka.

🎯 BHEL :
Company commissions Chhukha Hydro Electric project in Bhutan.

🎯 Ashok Leyland :
Company plant at Pantnagar will remain closed from June 24 to June 29 (both days inclusive) to align with the production and sales requirements.

🎯 South Indian Bank :
Reserve Bank of India imposed a Rs 10 Lakh fine on South Indian Bank for non-compliance with the directions issued by RBI on guarantees and co-acceptances.

🎯 Reliance Power :
Company gets CERC nod to meet new environment norms at Madhya Pradesh's Sasan UMPP - PTI

🎯 ONGC :
ONGC Videsh Ltd, partners agree to invest $20 billion in Mozambique LNG project.

🎯 NTPC :
Company wins 160 MW in SECI Rajasthan Tranche-II 750 MW solar tender.

🎯 Sun Pharma :
Company received Form 483 with four observations for Halol Plant.
Negative for the stock.

🎯 Adani Ports :
Company promoter release pledge on 4.31 lakh shares.

🎯 Emami :
Company promoter pledged 2.45 lakh shares.

🎯 Aurobindo Pharma :
Company promoter pledged 1.2 lakh shares.

🎯 Sical Logistics :
Company promoter pledged 22.5 lakh shares.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.

19th June, 2019 Morning Brief

Market will open on a positive note today after a volatile session on yesterday.

Asian stocks rose, building on gains in global shares amid optimism over progress in the U.S.-China trade war and indications of more stimulus from the European Central Bank.
U.S. stocks approached all-time highs on optimism that President Donald Trump will de-escalate his trade war with China.

Volatility struck bourses in late afternoon trade as they reversed their entire gains and traded with marginal losses, as anxiety remained among the traders with Fitch lowered India's growth forecast to 6.6 per cent for the current fiscal from 6.8 per cent projected earlier, as manufacturing and agriculture sectors showed signs of slowing down over the past year. 

Nifty formed a Spinning Top kind of pattern on daily charts. Spinning Top is often regarded as a neutral pattern which suggests indecisiveness on the part of both bulls and bears. It can be formed in an uptrend as well as in a downtrend.
The consolidation is expected to continue but if the index extended gains then it can lead to the test of 11,800 on the upside, however, a close below 11665 may lead to further downside to 11426.

🎯 News & Impact 🎯

🎯 DHFL :
Company repaid Rs.7.5 crore on June 18.

🎯 NMDC :
Company produced 3.04 MT iron ore in May 2019 versus 2.12 MT year on year.
Sales at 3.37 MT versus 2.31 MT year-on-year.

🎯 Canara Bank :
Board permitted stake sale in Can Fin Homes.

🎯 Surya Roshni :
Company wins orders from Bharat Gas Resources worth Rs1.52bn.

🎯 TCS :
Company deploys TCS BaNCS for KGI Bank, Taiwan.

🎯 Trent :
Tata Sons to invest Rs9.50bn in Trent to fund Star, Westside, Zudio.
Positive for the stock. 👍

🎯 Va Tech Wabag :
Company bags order for Rs.14.77bn from State Mission for Clean Ganga – UP.

🎯 Hatsun Agro :
Company commissions Cattle feed plant at Solapur.
Positive for the stock. 👍

🎯 HCL Technologies :
HCL Technologies and Cricket Australia announce a multi-year partnership.

🎯 BSE :
Recognised bourses can launch futures on commodity indices - SEBI
Positive for the stock. 👍

🎯 NLC India :
The 100 MW Solar PV power plant at Kamuthi & K. Nedunkulam village, Ramanathapuram District, Tamilnadu, out of 709 MW solar power projects awarded by TANGEDCO has been successfully commissioned.

🎯 HDFC Bank :
The Reserve Bank of India imposed a penalty of Rs.1 crore on HDFC Bank for non-compliance with directions issued by RBI on Know Your Customer/Anti-Money Laundering norms and on reporting of frauds.
Negative for the stock. 👎

🎯 Max India :
2.75 crore shares pledged by Max Ventures released (9 crore shares pledged as of March 2019).
Negative for the stock. 👎

🎯 Max Financial Services :
48.6 lakh shares pledged by Max Ventures released.
Negative for the stock. 👎

🎯 Adani Enterprises :
Shares Pledged by Gautam Adani/Rajesh S Adani (on behalf of SB Adani Family Trust) on 19 lakh shares released.
Negative for the stock. 👎

🎯 Adani Transmission :
Shares pledged by Gautam Adani/Rajesh S Adani (on behalf of SB Adani Family Trust) on 29 lakh shares released.
Negative for the stock. 👎

🎯 JSW Steel :
Promoter pledged additional 1.08 % equity.
Negative for the stock. 👎

🎯 JSW Energy : Promoter pledged additional 0.69 percent equity.
Negative for the stock. 👎

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.

18th June, 2019 Morning Brief

Market will open on a flat note today after experiencing a big slide yesterday.

Asian stocks saw muted gains Tuesday as markets entered a holding pattern ahead of this week’s key Federal Reserve decision.
U.S. equities gained, as Facebook, Apple, Netflix and Google parent Alphabet led the Nasdaq Composite higher.

Nifty formed a long bearish candle on the daily chart yesterday.
Sentiments were pessimistic because of Government announced retaliatory trade tariffs against the US., corporate governance issue, falling rupee and rising oil prices but it became worsen as Skymet announced that Monsoon deficit in June is at 40%. 

🎯 News & Impact 🎯

🎯 HDFC AMC :
In a move to rescue investors of its fixed maturity plans, HDFC Asset Management Company Ltd. will purchase Essel Group companies’ non-convertible debentures of up to Rs 500 crore. Company will repay investors in full.

🎯 Biocon :
Company approved sale of its branded formulations India business on a 'going concern' basis to Biocon Biologics India for Rs.45 crore.
Positive for the stock. 👍

🎯 Shriram Transport Finance :
Piramal Enterprises sells entire stake in Shriram Transport Finance for approx Rs.23.05bn.

🎯 Reliance Capital :
Company gets Rs14.50bn through OFS in RNAM.

🎯 Bharti Airtel :
Company's Africa unit expects London IPO to be priced between 80-100 pence/share.

🎯 Jet Airways :
PNB may take Jet Airways to NCLT with 24-48 hours under IBC.
Negative for the stock.

🎯 Varun Beverages :
Company board approves bonus issue in ratio of 1:2.
Positive for the stock. 👍

🎯 Federal Bank :
Company improves customer experience with TCS' digital CASA platform.

🎯 Tata Consultancy Services :
Company partners with SAP to launch an lntelligent Field lnventory Management solution, powered by SAP Leonardo, which leverages loT and blockchain to help medical device manufacturers streamline surgical kit handling.

🎯 Bajaj Holdings :
Company paid Rs.222 crore to WMDC to acquire 27 % stake in Maharashtra Scooters and hiked shareholding to 51 percent.

🎯 DHFL :
Company makes interest payment worth Rs 5 crore with the payment due on 17 June.

🎯 InterGlobe Aviation :
Company ordered CFM International LEAP1A engines to power 280 Airbus A320neo and A321neo aircraft. The contract, which includes spare engines and an overhaul support agreement, is valued at more than $20 billion.

🎯 Sandhar Tech :
Entered into a JV with Winnercom Co., Ltd for manufacturing and selling, inter-alia, electronic parts and accessories for the automotive industries in India.

🎯 Tech Mahindra :
To buy Canada’s Objectwise Consulting for CAD 2.75 million (about Rs 14.33 crore). The all-cash transaction is expected to close by 31 July, 2019.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒
Edited by Sharp.

17th June, 2019 Morning Brief

Market will open on a flat note today.

U.S. tech shares fell Friday on concern a global trade war could sap profit. Asian stocks began Monday on the back foot ahead of a big week for central-bank policy.

The oil price increased by a percent on June 14 amid concerns over potential supply disruptions after attacks on oil tankers in the Gulf of Oman last week. Sentiments were also hit as India may impose retaliatory tariffs on 29 US products.  DHFL's debt repayment default that pressured Yes Bank, as well as IndusInd Bank, due to their exposure to DHFL and more regulatory measures from the Reserve Bank of India (RBI) for NBFC space. Progress of the monsoon and Federal Reserve's interest rate decision, will be closely watched this week. On international side, the two-day US Federal Reserve meeting scheduled to be held on June 18-19 would be a key event to watch out for in coming week.

Nifty closed at the worst level after 23rd May 2019. A formation of head and shoulder type pattern on the daily timeframe chart can be seen with the neckline placed at 11,770 levels. Hence, a decisive move below this neckline support could open up a potential downside pattern target of 11,525 or 11400 in the near term.

🎯 News & Impact 🎯

🎯 M & M :
Company signed share agreement to acquire 11.25 % stake in Switzerland based Gamaya SA for Rs 30 crore.

🎯 Laurus Labs :
Company received two observations from the inspection of Active Pharmaceutical Ingredients facilities in Andhra Pradesh by the U.S. Food and Drug Administration. 

🎯 BHEL :
Company wins Rs.800 crore Engineering, Procurement and Construction orders for 200 MW solar power plants from NTPC Ltd. and Gujarat State Electricity Corporation Ltd.

🎯 Cadila Healthcare :
Company’s Ahmedabad facility Alidac Pharma receives Establishment Inspection report from the U.S. Food and Drug Administration. Alidac Pharma is 100 percent subsidiary of Cadila Healthcare.

🎯 Gruh Finance :
Housing Development Finance Corporation sold 3.6 crore shares or 4.91 percent equity at Rs 290.9 each.

🎯 Coromandel International :
Gujarat Pollution Board revokes its earlier closure order for Gujarat unit.

🎯 Sandhar Technologies :
Company has signed a joint venture agreement with Winnercom Co. Ltd., Republic of Korea.

🎯 FDC :
Compamy has been granted ANDA approval by USFDA, for Dorzolamide and Timolol Ophthalmic solution USP 22.3mg/6.83mg per ml, a generic version of Cosopt of Oak Pharmaceuticals Inc.

🎯 Elecon Engineering :
Company received prestigious order from BHEL for supply & erection of stacker cum reclaimer machines at its Udangudi STPP site, Thoothukudi, Tamil Nadu worth Rs 79.12 crore.

🎯 Divi's Lab :
The USFDA concluded inspection of Unit-II at Bheemunipatnam, Andhra Pradesh with no 483 observations. This was a general cGMP inspection by the USFDA.

🎯 Symphony :
Company incorporated a wholly owned subsidiary company in Brazil.

🎯 Syngene International :
Company approves issue of bonus issue in the ratio of 1:1.
Positive for the stock. 👍

🎯 Adani Enterprises :
Company promoter group Gautam Adani revoked pledge of 62.06 lakh shares on June 12.
Positive for the stock. 👍

🎯 JSW Energy :
Company promoter group Indusglobe Multiventures pledged 72.5 lakh shares on June 11.
Negative for the stock.

🎯 Apollo Tyres :
Company promoter group pledged 34.5 lakh shares on June 12.
Negative for the stock.

🎯 Fortis Healthcare :
Company repays entire loan availed from Citi Bank; closes bidding process for stake sale in RHT Health Trust as no firm proposal is received.
Positive for the stock. 👍

🎯 Emami :
Company promoter pledged 2 lakh shares and revoked pledge of 15.3 lakh shares from June 10-12.
Positive for the stock. 👍

🎯 Himatsingka Seide :
Company promoters revoked pledge of 1 crore shares on June 14.
Positive for the stock. 👍

🎯 Adani Transmission :
Company promoter group Adani Transmission revoked pledge of 2 lakh shares on June 13.
Positive for the stock. 👍

🎯 Indiabulls Housing :
Company promoters released pledge on 42 lakh shares (0.98 %) on June 14 on full repayment of loan.
Positive for the stock. 👍

🎯 Indiabulls Real Estate :
Company promoters released pledge on 3 crore shares (6.63 %) on June 14 on full repayment of loan.
Positive for the stock. 👍
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒
Edited by Sharp.

14th June, 2019 Morning Brief

Market will open on a negative side today after a volatile session yesterday.

Asian markets mixed Friday and a global bond rally extended amid ongoing concern that trade frictions may jeopardise global economic growth.
U.S. equities halted a two-day slide while Treasuries rose as investors assessed the likelihood for interest-rate cuts.

Nifty forms a Hammer pattern on the daily chart yesterday. It signalled a buying support around the day's low.

🎯 News & Impact 🎯

🎯 Wockhardt :
Company received zero Form 483 observation from the U.S. FDA after it had carried inspection of Bioequivalence Centre in Aurangabad, during which Tamsulosin and Metoprolol drugs were audited.
Negative for the stock.

🎯 Indiabulls Housing Finance 
Company said that it has made timely payment of interest of NCDs whose due date falls on June 14.
Positive for the stock. 👍

🎯 Thyrocare Technologies :
Board to decide on separating arm Nuclear Healthcare after valuation report obtained from a merchant banker. On May 18, the auditors had pointed the impairment of the aforesaid arm. Company’s Chairman and Managing Director Dr. A. Velumani offered to buy the entire shareholding of the this at current investment value of Rs 194.67 crore to ensure that no loss is done to public shareholders. 
Positive for the stock. 👍

🎯 Union Bank :
Bank executed an agreement to sell 10 lakh shares of National Payment Corporation of India for Rs.74 crore.

🎯 Intellect Design Arena :
Company sold its arm ‘SFL Properties’ for Rs.20.5 crore.

🎯 Olectra Greentech :
Company promoter Trinity Infraventure revoked pledge of 1.2 lakh shares on June 11.
Positive for the stock. 👍

🎯 JSW Steel :
Company promoters created pledge of 19.2 lakh shares from June 7-10.
Negative for the stock.

🎯 Adani Ports :
Company promoter Adani Tradeline LLP revoked pledge of 8.44 lakh shares and promoter Gautam Adani released pledge of 1.28 crore shares from June 11-12.
Positive for the stock. 👍

13th June, 2019 Morning Brief

Market will open on a negative note today

U.S. tech shares slumped as concern about trade tensions blunted optimism that slower-than forecast inflation would allow the Federal Reserve to cut rates.

The core CPI for May increased to 3.05 % from 2.92 % in April.

Nifty forms bearish belt hold kind of pattern after forming Doji for 3 consecutive sessions. Formation of multiple Doji candles indicates a tug of war in the 11,761-12,000 range.
Nifty has failed to hold 11960 level yesterday which signals exhaustion in the bullish trend for a while. Nifty50 should surpass 11960 and 12040 levels thereafter to regain bullish momentum.

🎯 News & Impact 🎯

🎯 Welspun :
Company unit gets Rs270.9mn early completion bonus for projects.

🎯 Varun Beverages :
Board to consider free shares bonus issue on June 17.
Positive for the stock. 👍

🎯 Blue Star :
Company introduces 34 new models of water purifiers starting at Rs7,900 •

🎯 NTPC :
Company approves investment in 100MW floating PV plant in Telangana.

🎯 Infosys :
Company selected by Posti as key digital transformation tech partner. 

🎯 Reliance Nippon Life Asset Management :
Promoter Reliance Capital plans to sell 2.86 % stake in the company.

🎯 Jet Airways :
Shares of the company will be coming out of F&O from June 28.

🎯 Adani Ports and SEZ :
Company has suspended its vessel operation at Tuna and Mundra port from June 12-13.

🎯 DHFL :
Company paid Rs 5.88 crore in dues on NCDs which fell due on June 6.

🎯 Mangalore Chemicals & Fertilizers :
Company has restarted ammonia, urea and ABC production with effect from June 12 in view of onset of monsoon and normalization of water supply. Production had stopped on May 14.

🎯 Edelweiss Financial Services :
Company arms signed agreement Bank of Baroda to co-lend SMEs.

🎯 NTPC :
Company signed joint venture deal with East Delhi Municipal Corporation to develop waste management and energy generation facility.

🎯 Music Broadcast :
Company entered into a definitive agreement for acquisition of Reliance Broadcast Network. Board had earlier approved this deal on May 27, where the company will acquire 24 percent stake before July 31 for Rs.202 crore.

🎯 Indian Oil Corporation Ltd., ONGC Ltd., Oil India Ltd. and Reliance Industries :
Norwegian Government in its parliamentary meeting decides to sell shares in all global energy stocks. Norway’s Government Pension Fund Global will be selling stake in Indian Oil Corporation Ltd., ONGC Ltd., Oil India Ltd. and Reliance Industries Ltd. The fund owns less than 1 percent stake in each of the four companies.

🎯 SAIL :
Company likely to auction three loss-making steel plants.

🎯 Wipro :
Company partners with Moogsoft to deliver next-gen AIOps solutions.

🎯 Tiger Logistics :
Company bagged Contract for handling the export logistics for the Piaggio Vehicles Private Limited.

🎯 Sharda Motor :
Exhaust Technology Private Limited becomes the joint venture company of Eberspaecher Exhaust Technology International GmbH and Sharda Motor Industries.

🎯 Greenply Industries :
Company entered into an agreement for investment of Rs 1.80 crore (i.e. 30 percent) in the equity share capital of Nemani Panels Pvt. Ltd., (a newly incorporated company for setting-up a manufacturing unit of Plywood.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.

12th June 2019, Morning Brief

Market will open on a flat note today.

U.S. stocks ended their longest winning streak in two months as investors weighed the outlook for trade talks and interest rate policy.

Nifty forms a Doji pattern for the 3rd consecutive day in a row. Though Nifty has crossed it's crucial level of 11600, market will trade with a caution ahead of CPI Inflation data for May and Industrial production data for April. 12040 should be the next resistance for the index going forward.

🎯 News & Impact 🎯

🎯 Rel Capital & Reliance Home Finance :
Price Waterhouse & Co resigned as the statutory auditor Reliance Capital and Reliance Home Finance. PwC noted certain observations/transactions in its assessment which if not resolved satisfactorily might be significant or material to the financial statements.
Negative for the stock.

🎯 Reliance :
Reliance Industries and BP sanctioned third phase of integrated KG-D6 development.

🎯 BHEL :
Company bags Rs. 4.40bn order from NPCIL.

🎯 TCS :
Lansforsakringar Bank Adopts TCS BaNCS as its New Digital Core.

🎯 Bharat Dynamics :
Company signs Rs.11.88bn contract to supply weight torpedoes in 42 months.

🎯 Tata Steel :
Thyssenkrupp AG and Tata Steel’s collapsed joint venture was formally blocked by the European Union, the sixth deal vetoed by antitrust chief Margrethe Vestager.

🎯 Gujarat Pipavav Ports :
Company to suspend operations from midnight of June 11 till June 13, for a period of 48 hours based on directions by the state’s port regulatory authority, due to a cyclonic storm which will be crossing the coast of Gujarat.

🎯 Adani Green Energy :
Promoter group under name of Gautam S Adani plans to sell cumulatively 5.98 percent stake in the company at a floor price of Rs.43 per share. 

🎯 Abbott :
Company said it has launched sensor enabled HD grid mapping catheter, a device that can be inserted in the body to treat diseases or perform surgical procedures, in India. The company has launched the product after receiving clearance from U.S. FDA last year.

🎯 BHEL, Tata Power, Gujarat Borosil :
India proposed up to 30 percent capital subsidy for solar module units, planning a capital subsidy program for solar cells and module manufacturers

🎯 Larsen & Toubro :
LIC reduced stake by 2.83 crore shares (2 percent) from 18.3 % to 16.3 %, from July 2017 till June 2019.

🎯 ITC :
Company to invest Rs 20,000 crore in India, FMCG, Paper and Backend Operations. 

🎯 Eros :
Eros International Media Promoter Eros Worldwide created pledge of 65.25 lakh shares from June 6-11.

🎯 India Cements :
Company promoter group EWS Finance and Investments revoked pledge of 85 lakh shares on June 7.
Positive for the stock. 👍

🎯 Hubtown :
Company promoter group Vyomesh Shah HUF revoked pledge of 1 lakh shares on June 10.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒
Edited by Sharp.

11th June, 2019 Morning Brief

Market will open flat after a volatile session witnessed yesterday.

Asian stocks traded mixed Tuesday as investor focus turned to the U.S.-China trade arena, while Treasury yields pared some of Monday’s gains.
Equities were little changed in Japan and South Korea, and climbed in Australia. U.S. futures were flat.
U.S. stocks climbed after President Donald Trump suspended plans for tariffs on Mexico. 

Nifty formed a ‘Doji' pattern for second day in a row which means uncertainty. 11960 could be the level of resistance.

🎯 News & Impact 🎯

🎯 Sterlite Technologies :
Vedanta based promoter Twin Star Overseas released entire pledge of 20.74 crore shares (52.01 %) on June 10. 
Positive for the stock. 👍

🎯 L&T Construction :
Company bags orders across various biz valued between Rs25bn-Rs50bn.

🎯 L&T :
Company got CCI approval for sale of electrical operations.

🎯 RPP Infra Projects :
Company wins Rs.472mn contract from BHEL.

🎯 Indiabulls Housing Finance :
Refuted the allegation of siphoning Rs 98,000-crore, terming it as “bizarre” and made by a “racket of blackmailers”.

🎯 Dewan Housing Finance :
Completed sale of entire stake (9.15 %) in Aadhaar Housing Finance to Blackstone’s arm.

🎯 Bharti Airtel :
Company will pay the Tanzanian government 60 billion Shillings ($26.2 million) over a period of five years to settle an ownership dispute.

🎯 Reliance Industries :
Company plans to shut down one of crude distillation units and coker unit in Jamnagar for routine maintenance and inspection activities for three-to-four weeks from June 20.

🎯 Petronet LNG :
Facilities related to expansion of Dahej LNG Terminal from 15 to 17.5 MMTPA has been commissioned and under stabilisation, with additional gas send-out already commencing.

🎯 Parag Milk Foods :
Company launched premium milk brand in Singapore. Milk to be sold under brand name of Pride of Cows.

🎯 Fortis Healthcare :
Yes Bank said that it has sold 1.51 crore shares (2 percent) in various tranches since December 2018. Thereby reducing stake by 2 % from 8.41 percent to 6.41 %, as per exchanges.

🎯 IL&FS Engineering Services :
Company entered into a settlement agreement with NHAI against Arbitration Award. Company receives claim of Rs 150.15 crore.

🎯 IDBI Bank :
Bank entered into a Standalone Health Insurance tie-up with Max Bupa with effect from June 1.

🎯 Wipro :
Company launched digital solutions for global airlines for crew management.

🎯 India Cements :
Aditya Birla Sun Life MF sold 67.66 lakh shares on June 6, reducing its stake from 7.31 % to 5.11 %.

🎯 Talwalkar Better Value Fitness : Company-backed startup Sarva Yoga raised over $4 million from global investors at a valuation of $20 million.

🎯 Zensar :
Company announces Global Partnership with NetApp and Cisco.

🎯 IndusInd Bank and Bharat Financial : Received NCLT approval for merger.

🎯 Adani Enterprises :
Company promoter Adani Tradeline revoked pledge of 51.5 lakh shares on June 6.
Positive for the stock. 👍

🎯 Adani Ports & SEZ :
Company promoter Adani Tradeline revoked pledge of 19 lakh shares on June 6.
Positive for the stock. 👍

🎯 Max Financial Services :
Company promoter group Max Ventures Investment Holdings revoked pledge of 1.5 lakh shares on June 4.
Positive for the stock. 👍

🎯 Zee Media :
Company promoter 25FPS Media invoked pledge of 1.63 crore shares from April 8-23.
Positive for the stock. 👍

🎯 Mukand :
Company promoter group acquired 61,000 shares from June 4-6.
Positive for the stock. 👍

🎯 Quess Corp :
Company promoter and director Ajit Isaac acquired 25,000 shares on June 7.
Positive for the stock. 👍
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒
Edited by Sharp.

10th June, 2019 Morning Brief

A gap-up opening can be witnessed today after a dicey week.

Asian stocks and U.S. equity futures climbed on Monday after President Donald Trump suspended his plans for tariffs on Mexico.
U.S. stocks rallied for a fourth day after weak jobs data added to bets the Federal Reserve will cut rates.

Nifty formed 'Doji Cross' kind of pattern on the daily chart. Doji also indicates indecisiveness which means the market needs a trigger to move on either side. 11960 to 12000 would be a resistance zone to think beyond the recent high.

🎯 News & Impact 🎯

🎯 State Bank of India :
Bank introduced new home loan product linked to repo rate. Cuts rate for cash credit /overdraft of above Rs 1 lakh by 25 basis points to 8 %.

🎯 Kotak Mahindra Bank :
The Reserve Bank of India imposed a penalty of Rs.2 crore for deficiencies in regulatory compliance.

🎯 Mindtree Open Offer Update :
Larsen & Toubro made cash offer of 5.13 crore shares, or 31 % of the voting share capital at Rs 980 per share, aggregating to Rs 5,027.4 crore, as reported in the exchanges. Open offer to begin from June 17. The offer price is at a discount of 1% from the current market prices. This action is being undertaken to comply with SEBI norms.

🎯 Manappuram Finance :
Company said that it has received a show cause notice from SEBI on May 29. The notice alleged that certain officials of the company had selectively disclosed unpublished price sensitive information to a research analyst firm. Company said it is currently examining the contents of the notice and seeking legal advice on the next course of action.

🎯 Zee Entertainment Enterprises : Brickwork Ratings reduced the credit rating of non-convertible preference shares issued as bonus to its equity shareholders in 2014 at BWR AAA, with credit watch turning from developing implications to negative implications.

🎯 Reliance Capital :
Company completed the payments and paid interest and principal on bonds due on June 6, a spokesman for the company said in a text message.

🎯 DHFL :
UTI MF increased markdown to DHFL’s debt securities to 100 %, introduced exit load in some schemes on a prospective basis. It sees more pressure and legal action on DHFL from creditors. (UTI Press Release)

🎯 Bharat Forge :
Company entered into a joint venture agreement with Germany’s Refu Electronik for developing, manufacturing and selling on board controllers and components for e-mobility vehicles. The company will hold 50 % stake by investment of Euro 11.35 million.

🎯 JSW Steel :
Mumbai bench of NCLT approved amalgamation of company’s 3 three units with self on June 6. Only 1 unit of JSW Steel (Salav) is now subject to approval from Ahmedabad NCLT for the amalgamation with the parent company.

🎯 Tata Power : CRISIL revised debt instruments and long-term facilities from ‘AA-(Stable)‘ to ‘AA-(Positive)‘. The company said that this move came after it cleared all dues on debentures worth Rs 1,082 crore and term loan of Rs 605 crore and an improved visibility seen due to implementation of the high-power committee’s recommendations for its arm-Coastal Gujarat.
Positive for the stock. 👍

🎯 UFO Moviez India Ltd. :
Board approved demerger of Valuable Digital Screen (Caravan Talkies) from UFO Moviez. Company says the proposed demerger will enable the company to cater to the needs of the advertisers across both rural and urban audiences thereby enabling them to plan their spends in a coordinated manner, through a common vendor.

🎯 Atul’s arms Atul Elkay Polymers and Lapox Polymers terminated joint venture agreement with Turkey’s Elkay for promoting stone care chemicals in India on June 7, due to changed circumstances and mutual consent of both parties.

🎯 Bank of Maharashtra :
Company reduced MCLR by 5 basis points and 10 basis points across various tenors. Three month MCLR at 8.40 percent and 1 year MCLR at 8.6 percent.

🎯 Srei Infrastructure Finance :
Company signed a memorandum of understanding with PTC India Financial Services Ltd. to facilitate financing, syndication, and advisory services in Energy Value Chain across industries in India.

🎯 Tourism Finance Corporation of India :
Company to incorporate a new subsidiary for undertaking the business of advisory and consultancy services.

🎯 Vadilal Industries :
Company clarified on the show cause notice issued by the United States Federal Food, Drug, and Cosmetic Act on March 31, stating that in the re-inspection undertaken on June 6. The FDCA officials have cleared all the earlier non-conformities and no material impact due to the show-cause notice will be seen for the company.

🎯 Indian Oil Corporation, ONGC, Oil India and Reliance Industries : Norwegian Government to consider selling shares in all global energy stocks on June 12 parliamentary meeting. Norway’s Government Pension Fund Global holds stake in Indian Oil Corporation, ONGC, Oil India and Reliance Industries Fund owns less than 1 % stake in each of the four companies.
⚠ Cautious over the price.

🎯 MOIL :
gets Environment Clearance (EC) of Ukwa Mine.

🎯 CG Power :
CG launches next generation of compact drives and advance series of products for the industrial automation.

🎯 Maruti Suzuki :
Company production for May 2019 lower by 18.1 percent to 1.51 lakh units.

🎯 M&M :
Company to observe no production days ranging between 5-13 days in various plants as part of aligning its production with sales requirements.

🎯 DHFL :
Company paid investors around Rs. 276.05 crore on its principal and interest obligations towards its non-convertible debentures.

🎯 PC Jeweller :
CRISIL downgraded long and short term rating to CRISIL BB+ and CRISL A4+ from CRISIL BBB+ and CRISIL A2 respectively. The downgrade reflects significant operating losses on account of an unexpected one time discount given to export customers following build-up of receivables outstanding as on March 31, 2019.

🎯 MOIL :
Company received environmental clearance for manganese ore mine in an area of 49 hectares for additional production capacity of 1.2 lakh tonnes per annum.
Positive for the stock. 👍

🎯 Gati :
Company promoter Jubilee Commercial created pledge of 5,000 shares on May 29.

🎯 Reliance Infrastructure :
Axis Trustee invoked pledge on 20 lakh shares or 0.76 percent equity held by promoter.
⚠ Cautious over the stock.

🎯 Reliance Capital :
Axis Trustee invoked pledge on 12 lakh shares or 0.47 percent equity held by promoter.
⚠ Cautious over the stock.

🎯 Zuari Agro Chemicals : Promoter released pledge on 15.6 lakh shares or 3.71 percent equity.
Positive for the stock. 👍
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.

7th June 2019, Morning Brief

Market will continue yesterday's slide by opening on a negative note.

Asian stocks traded mixed Friday as traders awaited a key U.S. jobs report and the outcome of further tariff negotiations between the Trump administration and Mexico.

The RBI slashed repo rates by 25 bps to 5.75% a lowest in 9 years and changed the stance to accomodative from neutral but a downward revision of FY20 GDP growth forecast and no major measure to address liquidity conditions for NBFCs dented sentiment and caused to register a biggest fall of 2019 for Sensex and Nifty.

Nifty forms Bearish Belt Hold pattern on the chart. As mentioned in repetition that Nifty should hold and sustain above 11960 level to start it's upward journey, Nifty is failing the same. Again, to regain recent tops it needs some concrete stimulus in coming days. 11830 can be considered an immediate support to watch today.

🎯 News & Impact 🎯

🎯 RNAM :
Reliance Life Insurance Company making an open offer to acquire 13.82 crore shares of Reliance Nippon Life Asset Management at Rs 230 per share.

🎯 Cyient :
Company announces strategic investment in rail Cybersecurity Company Cylus.

🎯 Indiabulls Real Estate :
Company's promoters' strategy to focus on financial services in the long run, the promoters intend to dispose-of up to 14% of the fully paid-up share capital of the company to third party investors.
Positive for the stock. 👍

🎯 Indiabulls Real Estate :
Blackstone may buy promoters' stake for around USD 1 billion.
Positive for the stock. 👍

🎯 Bharti Airtel :
Oyo Hotels & Homes and Airtel partner to launch Oyo Store on Airtel Thanks App.

🎯 JSW Steel :
Company has agreed to acquire the entire issued and paid-up share capital of Piombino Steel Limited.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒
Edited by Sharp.

6th June 2019, Morning Brief

Global firmness will make our market to  open on a positive note today after yesterday's break.

Stocks opened mixed in Asia as discussions between the Donald Trump administration and Mexican officials on tariffs ended without an agreement on Wednesday.

Nifty has made a Bearish Harami pattern on the daily chart which consists of a long green candle followed by a small red candle. The opening and closing points of the second red candle should be within the body of the first green candle, which indicates a trend reversal. In this case, we need another negative closing below 11960 to say as a technical trend reversal.

The outcome of monetary policy will be an important event to watch. A 0.25% rate cut has been discounted already by market and it won't surprise market at all but may witness profit booking into market. Any other strategy will keep market volatile.

🎯 News & Impact 🎯

🎯 PSP Projects :
Company received new orders worth Rs 156 crore during FY 2019-20.

🎯 Wipro :
Company signed definitive agreement to acquire International TechneGroup.

🎯 Housing companies :
Housing sales up 13 % in January-March on stable prices.

🎯 Coal India :
Company targets 660 mt output, lines up Rs.10,000 crore capex in FY20.
Positive for the stock. 👍

🎯 Indoco Remedies :
US FDA issues 4 observations after inspection of facility in Goa.
Negative for the stock.

🎯 Tata Motors :
Jaguar Land Rover & BMW Group announce collaboration for electrification technology. Electric drive units will be manufactured by each partner in their own production facilities.

🎯 DHFL :
Company gets RBI's approval for sale of Avanse Financial Services to Warburg Pincus Group.

🎯 Lupin :
Japan's PMDA completes inspection of Mandideep facility (Unit-2), inspection closed with no critical or major observations.

🎯 Natco Pharma :
Natco files ANDA for Bosentan 32mg tablets for the USA market.

🎯 KPI Global Infrastructure :
Company acquired 100 % equity shares of KPIG Energia Private Limited, Surat (SPV).

🎯 DHFL :
Company likely to miss payment deadline for Rs 1,150 crore due on NCDs. Blackstone likely to pay DHFL around Rs 2,500 crore for Aadhaar By June 10.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒
Edited by Sharp.

4th June, 2019 Morning Brief

Market will open on a negative note today after closing at a historical high yesterday.

Asian stocks stabilised in early trading Tuesday after a technology rout sank Nasdaq shares overnight. The three major U.S. stock indexes declined on Monday on weaker-than-expected economic data, while shares of Alphabet, Facebook and Amazon.com fell sharply on fears the companies are the targets of U.S. government antitrust regulators, putting pressure on the tech-laden Nasdaq.

It was a fantastic day for the markets with Nifty closing above 12K and Sensex above 40K mark for the first time ever yesterday. Sentiments remained upbeat led by fall in crude oil prices, stronger rupee and hope of rate cut after weak Q4 GDP data and timely monsoon arrival announced by IMD.

The index closed above its psychological 12,000 level for the first time to form strong bullish candle on daily charts.

🎯 News & Impact 🎯

🎯 M&M :
Mahindra & Mahindra Benefit Trust sells M&M shares worth Rs12.44bn to Canada's CDPQ.

🎯 GE Power India :
Company received order worth Rs 738 crore.

🎯 TCS :
Company launched MasterCraft TransformPlus v4.0 with new cognitive features for analysis and modernization of enterprise applications.

🎯 Dr Reddy :
Company re-launched Zenatane (lsotretinoin capsules, USP), 10 mg, 20 mg, 30 mg and 40 mg in the US market.

🎯 CESC Ventures :
Company executed an agreement to acquire 64.63% in Herbolab India for Rs. 32.175 crore.

🎯 Auro Pharma : Generic drug distributor Aceto is accusing drug manufacturer Aurobindo Pharma of fraud and negligent. Yesterday aurobindo pharma' s unit 3 received 10 observations from USFDA.
Negative for the stock.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.

3rd June, 2019 Morning Brief

Market will kick start with a positive move for the new week as well as a new month today.

Asian stocks began the week on the back foot in the wake of trade-war jitters from U.S. moves against Mexico and India to China’s retaliation against American measures.

India's gross domestic product (GDP) grew 5.8 percent in January-March, official data released on May 31 showed, confirming fears of a slowdown, as the new government assumed office amid expectations of a wide-ranging policy impetus to turnaround the economy that is nursing multiple pain points.
The growth in GDP was slowest since 2014-15.

Nifty formed a bearish candle with long lower shadow on the daily chart. Again 11960 proved to be a challenging level to conquer. 11800 can be considered as an immediate support for Nifty50.

🎯 News & Impact 🎯

🎯 Eicher Motors: Company's JV with Volvo Group, VE Commercial Vehicle sold 870 units in May 2019, down 37.6 % against 1,395 units sold in the same month last year.

Escorts: Agri machinery segment sold 6,827 tractors in May, down by 18 % against 8,325 tractors sold in May 2018. Domestic tractor sales down 19.8 % to 6,488 tractors and exports grow 42.4 % to 339 tractors YoY.

Atul Auto : Company sold 3,464 vehicles in May 2019, lower by 13 % against 3,983 vehicles sold in May 2018.

SML Isuzu : Company sold 1,689 vehicles in May, higher by 17 % over 1,442 vehicles sold in same month last year.

🎯 Dilip Buildcon :
Company executed an EPC agreement with the National Highways Authority of India for Saoner-Dhapewada-Kalmeshwar-Gondkhairi, NH-547E, Package -II on EPC mode in Maharashtra.

🎯 NTPC :
Unit-1 of 800 MW of Gadarwara Super Thermal Power Station (2 x 800 MW) has started its commercial operation. With this, the commercial capacity of Gadarwara Super Thermal Power Station, NTPC and NTPC group has become 800 MW, 46,525 MW and 54,326 MW, respectively.

🎯 Tata Steel BSL :
NCLT approved the resolution plan submitted by Tata Steel for acquiring the controlling stake in Bhushan Energy (BEL).

🎯 Vaibhav Global :
Company approved proposal to buyback 7.2 lakh fully paid-up equity shares, at a price up to Rs.1,000 per share, for an aggregate amount up to Rs 72 crore.

🎯 NLC India :
NLC India achieved yet another major milestone activity by lighting up the boiler of the second unit of the upcoming 2 x 500 MW lignite-fired Neyveli New Thermal Power Project (NNTPP).

🎯 Shri Dinesh Mills :
Company discontinued manufacturing of woolen & worsted fabrics at Ankleshwar and Vadodara units.
✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp.