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.
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Edited by Sharp.