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. 👍
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Edited by Sharp.