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.
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Edited by Sharp.