28th June, 2019 Morning Brief

Market will open on a positive note today after a volatile session yesterday.

Stocks in Asia saw a quiet open on Friday, ahead of the highly anticipated U.S.-China presidential meeting Saturday that could determine the next chapter in the trade war between the world’s two largest economies.

American stocks halted four days of declines as trade optimism reigned ahead of U.S.-China talks at the Group of 20 conference this weekend in Japan.

Now a days our markets are dancing on the different domestic as well as global events and incidents. Nifty has to surpass 11960 level to regain it's previous highs on expectations of Union budget scheduled in next week.

🎯 News & Impact 🎯

🎯 Persistent Systems :
To acquire 70 % stake in Youperience Ltd. for GBP 1.2 million (Rs 10.5 crore). 

🎯 Lupin :
Company received tentative U.S. FDA approval for Mirabegron ER Tablets, to market generic version for Myrbetriq ER Tablets of Astellas.
Positive for the stock. 👍

🎯 Sobha, Prestige Estate Projects, Brigade Enteprises, Puravankara : Government of Karnataka is planning to deny permission for building new apartments in Bengaluru for the next five years until the water crisis in the city is resolved. 
Negative for the stocks. 👎

🎯 Glenmark Pharma :
Company receives ANDA approval for Ezetimibe and Simvastatin Tablets, 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg.
Positive for the stock. 👍

🎯 Cox & Kings :
Company defaults on payments of Rs. 150 crore.
Negative for the stock. 👎

🎯 Vedanta :
Zambian High Court granted the company an order to stay the powers of the Konkola Copper Mines provisional liquidator to sell or dispose of KCM’s assets through public tender, or to make any arrangements with creditors, the company said in an emailed statement. 

🎯 Excel Industries :
Board approved acquisition chemical manufacturing unit of NetMatrix Cropcare for Rs.95 crore.

🎯 MMTC :
Company has considered sale of its stake in JV Company Neelachal Ispat Nigam.

🎯 Infosys :
McCamish Partners with Pan-American Life Insurance Group

🎯 BHEL :
Company issues termination notice to BHEL on steel plant contract.
Negative for the stock. 👎

🎯 Insilco :
Company's plant will remain shut down from June 27 to July 9 due to high inventory.
Negative for the stock. 👎

🎯 Max India :
Company to divest entire stake in Pharmax to group firm for Rs.61 Cr.

🎯 Wipro :
Company exits WAISL JV and sells remaining 11% share to Antariksh Softtech for Rs.55 lakh.

🎯 IL&FS :
Company unable to service NCDs interest due on June 27. 
Negative for the stock. 👎

🎯 JSW Energy :
Company promoters created pledge of 26 lakh shares and released pledge of 4.42 crore shares from June 18-19.
Negative for the stock. 👎

🎯 JSW Steel :
Company promoter Sahyog Holdings created pledge of 10 lakh shares on June 25.
Negative for the stock. 👎

🎯 Emami :
Company promoters revoked pledge of 59 lakh shares from June 21-24.
Positive for the stock. 👍

🎯 Kalpataru Power Transmission :
Company promoters revoked pledge of 40 lakh shares from June 24-25.
Positive for the stock. 👍

🎯 Gati :
Company promoter Mahendra Kumar Agarwal & Sons HUF created pledge of 25,000 shares on June 25.
Negative for the stock. 👎

🎯 Cigniti Technologies :
Company promoter Chakkilam Rajeshwari revoked pledge of 2.25 lakh shares on June 26.
Positive for the stock. 👍

🎯 Apollo Hospital Enterprise :
Company promoter Suneeta Reddy revoked pledge of 1.8 lakh shares on June 21.
Positive for the stock. 👍

🎯 Birlasoft :
Company promoter National Engineering Industries created pledge of 4.6 crore shares on June 24.
Negative for the stock. 👎

🎯 Adani Ports and SEZ :
Company promoter Gautam Adani & Rajesh Adani created pledge of 4.4 lakh shares on June 24.
Negative for the stock. 👎

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Edited by Sharp.