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.
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Edited by Sharp.