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. 👍
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Edited by Sharp.
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