1st August, 2019 Morning Brief

Market will open with a gap-down tracking US market.

A sell-off in U.S. stocks extended to Asia as markets opened after Chairman Jerome Powell dented hopes the Federal Reserve is poised to continue easing after delivering the first interest-rate cut in over a decade.

Markets turned volatile as Powell signalled the Fed is in no rush to continue with easing, unless warranted by data.

Nifty has made a bullish candle on the daily yesterday. It's interesting to see whether it breaks yesterday's low or not to hope for some gains.

🎯 News & Impact 🎯

Major Results Today :
Bharti Airtel

Results Updates :

🎯 Eicher Motors (Q1, YoY) :
Revenue down 6.5 % to Rs.2,381.9 crore.
Net profit down 21.6 % to Rs.451.8 crore.
Ebitda down 24.1 % to Rs.614.5 crore.
Margin at 25.8 % versus 31.8 %.

🎯 UPL (Q1, YoY) :
Revenue up 91 % to Rs.7,906 crore.
Net profit down 65 % to Rs.178 crore.
Ebitda up 47 % to Rs.1,246 crore.
Margin at 15.8 % versus 20.5 %.

🎯 Trent (Q1, YoY) :
Revenue up 29.9 % to Rs 767.2 crore.
Net profit up 50.8 % to Rs 57.9 crore.
Ebitda up 2.3 times to Rs.163.9 crore.
Margin at 21.4 % versus 12 %.
Positive for the stock. 👍

🎯 CreditAccess Grameen (Q1, YoY) :
Net interest income up 27.1 % to Rs. 232.4 crore.
Net profit up 32.7 % to Rs 95.8 crore.
Positive for the stock. 👍

🎯 IndiaMART InterMESH (Q1, YoY) :
Revenue up 30 % to Rs 147.3 crore.
Net profit at Rs 31.4 crore versus net loss of Rs 56.7 crore.
Positive for the stock. 👍

🎯 Indiabulls Ventures (Q1, YoY) :
Revenue up twice to Rs 710.3 crore versus Rs 349.2 crore.
Net profit up 25.2 % to Rs 109.8 crore versus Rs 87.7 crore.

🎯 Mas Financial Services (Q1, YoY) :
Net interest income up 20.9 % to Rs 74.6 crore.
Net profit up 33.2 % to Rs.41.3 crore.

🎯 Zee Entertainment :
Invesco Oppenheimer Developing Markets Fund to acquire up to 11 % stake in the company for Rs.4,224 crore from the promoters. 

🎯 Bosch :
Company to suspend all manufacturing operation at company’s Bidadi plant from Aug. 1-3.

🎯 Reliance Capital :
Company said that it has fully repaid its commercial papers on due date and the outstanding amount stands at zero from the peak of Rs.3,500 crore.

🎯 Bharat Electronics :
Government sold 7.04 crore shares via off market transactions for CPSE issue, decreasing stake in the company from 58.89 % to 55.93 %.

🎯 Unichem Laboratories :
Company received four observations from the U.S. FDA’s inspection at Goa formulation facility.

🎯 Indiabulls Venture :
Board executed sale of company’s Broking business to group’s arm Indiabulls Securities.

🎯 Mercator :
ONGC has invoked bank guarantees and proceeds of Rs.142.19 crore has been remitted by Axis Bank. 

🎯 Sunpharma :
Company announces regulatory filing of Tildrakizumab in Japan.
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Edited by Sharp.

31st July, 2019 Morning Brief

Market will open on on a negative note in continuation with yesterday's slide.

Stocks in Asia saw a mixed open in Asia as investors mulled pessimistic signs for U.S.-China trade talks alongside a mixed set of corporate earnings ahead of the Federal Reserve’s long-awaited interest-rate cut.

U.S. stocks fell amid a mixed bag of corporate earnings and growing speculation a trade deal with China remains elusive.

Market will closely observe India Fiscal Deficit in rupees for April-June period along with India Eight Infrastructure Industries Index for June today. Also it is waiting for Fed decisions on US interest rates coming up. Nifty has a support around 10940 on it's short term downtrend initiated on

🎯 News & Impact 🎯

Major Results Today :

Eicher Motors, Indian Oil Corporation, UPL

Results Updates :

🎯 Hero MotoCorp (Q1, YoY) :
Revenue down 8.9 % to Rs 8,030 crore. Net profit up 38.3 percent to Rs.1,257 crore.
Ebitda down 15.9 % to Rs. 1,158.4 crore.

🎯 Tech Mahindra (Q1, QoQ) :
Revenue down 2.7 % to Rs.8,653 crore. Net profit down 15 % to Rs.959 crore.

🎯 Axis Bank (Q1, YoY) :
Net Interest Income up 13 % to Rs. 5,844 crore.
Net profit up 95 % to Rs 1,370 crore.

🎯 Gujarat Gas (Q1, YoY) :
Revenue up 48.1 % to Rs.2,614.6 crore. Net profit up 91.6 % to Rs 234 crore.
Positive for the stock. 👍

🎯 PNB Housing Finance Q1: Consolidated net profit rises to Rs 284.5 crore versus Rs 255.8 crore,
Revenue jumps to Rs 2,231 crore versus Rs 1,648 crore YoY.

🎯 Gulf Oil (Q1, YoY) :
Revenue up 12.9 % to Rs.440.7 crore.
Net profit up 21.4 % to Rs.48.7 crore.

🎯 Vinati Organics (Q1, YoY) :
Revenue up 11.9 % to Rs.290.7 crore.
Net profit up 28.1 % to Rs.82.4 crore.

🎯 Coffee Day Enterprises :
Body of VG Siddhartha, has been found on the banks of Netravati River in Mangaluru, according to ANI report. 

🎯 Dr Reddy’s Laboratories :
The U.S. FDA issued Form 483 with five observations to the company’s Unit II Lab in Andhra Pradesh from the The inspection was conducted from July 8-12, according to Bloomberg report.

🎯 JSW Steel :
Company stated that it has been declared preferred bidder for another three iron ore mines in auctions held by Karnataka.

🎯 Alkem Laboratories :
Company stated that inspection of its manufacturing facility at Baddi has been closed by the U.S. FDA. The company stated that Form 483 contained four observations and it had submitted corrective actions in stipulated time to the FDA.

🎯 DHFL :
Company stated that it completed the sale of its 30.63 % stake in Avanse Financial Services to Warburg Pincus. 

🎯 KEI Industries :
Company has started commercial production of first phase for manufacturing wire at a new plant in Dadra and Nagar Haveli.

🎯 Cox & Kings :
Company defaulted in payment of commercial papers worth Rs 10 crore which was due on July 29.

🎯 Tech Mahindra :
Company board approved the proposal to acquire majority stake in Mad Pow Media Solutions which is valued at $25.3 million.

🎯 Sobha :
Company acquired 100 % stake in two companies from Kuthavakkam Group. Both these companies have land parcels.

🎯 Mahindra & Mahindra :
Company increased stake in Smartshift Logistics to 34 % for a consideration of Rs.37.5 crore.

🎯 Muthoot Capital Services :
DSP Mutual Fund increased stake in the company by 1.21 % to 6.19 % stake.

🎯 Pfizer :
Parent Pfizer Inc, USA and Mylan NV announced a definitive agreement to combine Mylan with Upjohn, company's off-patent branded and generic established medicines business, creating a new global pharmaceutical company.

🎯 Orient Green Power :
State Bank of India's stressed Asset Management Branch, Chennai affixed e-auction sale notice for sale of factory, land and building of the company situated at Sookri Village, MP.
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Edited by Sharp.

30th July, 2019 Morning Brief

Market will open on a positive note today after yesterday's slide ahead of US Fed meet outcome .

U.S. equities ended lower as tech heavyweights weighed on benchmarks.

Asian stocks edged higher Tuesday as investors awaited news from the resumption of U.S.-China trade talks.

🎯 News & Impact 🎯

Major Results Today :

Axis Bank, Hero MotoCorp, Tech Mahindra

Results Updates :

🎯 Dr Reddy’s Lab (Q1, YoY) :
Revenue up 3 % to Rs 3,844 crore.
Net profit up 45 % to Rs 663 crore.

🎯 Strides Pharma (Q1, YoY) :
Revenue up 45.1 % to Rs 685.8 crore.
Net profit at Rs 2.9 crore versus net loss at Rs 2.6 crore.
Ebitda up 2.9 times to Rs 123.6 crore. Margin at 18 % versus 9 %.
Positive for the stock. 👍

🎯 DLF (Q1, YoY) :
Revenue down 11.7 percent to Rs 1,331.2 crore.
Net profit up 2.4 times to Rs.414.7 crore.

🎯 Cochin Shipyard (Q1, YoY) :
Revenue up 11.6 % at Rs 735.4 crore.
Net profit up 12.1 % to Rs 119.1 crore.

🎯 Strides Pharma :
Company’s arm has entered into a JV with China’s Sihuan Pharma. The company will own 49 % stake in the JV and will license 4 products immediately to this JV with an option to expand the portfolio subsequently, while Sihuan Pharma will use its distribution channel to market the products across China.

🎯 Dr. Reddy’s Laboratories :
Company's board approved amalgamation of promoter group held company Dr. Reddy’s Holdings with itself. The holding company has 24.88 percent stake in the pharmaceutical company.

🎯 Insecticides India :
Company received patent for concentrate formulation for 20 years. The combination will be sold by the company under the brand name ‘Aikido’.

🎯 BEML :
Company commenced manufacturing of metro cars for Mumbai Metro project.

🎯 Coal India :
Company sold 1.7 % stake in the company via CPSE ETF. After this deal, the government has 69.26 % stake in the company. 

🎯 Indian Oil Corporation :
Company has made alternate arrangements for sourcing of oil to maintain supplies after imposition of U.S. sanctions on trade with Iran, alternate arrangements include term contracts for U.S.-origin crude. 

🎯 Infosys :
Al Ahli Bank of Kuwait partners with EdgeVerve Sysytems, a subsidiary of Infosys, for its Robotic Process Automation Journey.

🎯 Kansai Nerolac :
Company board approved merger of three arms with self.

🎯 JM Financial :
Company promoter JM Financial and Investment Consultancy acquired 40,000 shares from July 24-25.

🎯 Muthoot Finance :
Company reduces the Maximum ‘Loan to Value' (LTV) to 70% of the gold price as against the RBI norms of up to 75%.
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Edited by Sharp.

26th July, 2019 Morning Brief

Market will open on a flat note today.

Asian stocks retreated Friday after their U.S. counterparts fell from record highs amid a torrent of corporate results.

U.S. stocks fell from record highs amid a torrent of corporate results, while the euro swung between gains and losses and European bond yields climbed from all-time lows. after European Central Bank didn't give markets more of a dovish signal.

Nifty has made a bearish candle on the daily chart yesterday. If Nifty will not take support at around 11230 then it may test 11100.

🎯 News & Impact 🎯

Major Results Today :

Bajaj Auto, Maruti Suzuki India, JSW Steel, Vedanta, PNB

Results Updates :

🎯 Tata Motors (Q1, YoY) :
Consolidated loss widens to Rs.3,680 crore from Rs.1,862.7 crore.
Revenue declines 7.8 % to Rs.61,467 crore YoY;
JLR pre-tax loss at 395 million pound against 264 million pound loss YoY;
net automotive debt rises to Rs.46,500 crore due to negative free cash flows.
JLR
Revenue down 3 % to GBP 5.07 billion.
JLR margin at 4.2 % versus 6.2 %.

🎯 Bank of Baroda (Q1, YoY) :
Net interest income up 2.61 % to Rs. 6,496 crore (estimate Rs 6,393 crore).
Net profit at Rs.710 crore versus net loss of Rs 49 crore.
Provisions at Rs 3,168.4 crore.
GNPA at 10.28 % versus 10.02 % (QoQ).
Positive for the stock. 👍

🎯 Biocon (Q1, YoY) :
Revenue up 30.4 % to Rs.1,465.9 crore.
Net profit up 72.3 % to Rs.206.3 crore.
Ebitda up 84 % to Rs.437.5 crore.
Margin at 29.8 % versus 21.2 %
Positive for the stock. 👍

🎯 AU Small Finance Bank (Q1, YoY) :
Net interest income up 38.1 % to Rs. 395.6 crore.
Net profit up 2.5 times to Rs.190.3 crore.
Provisions at Rs. 31.5 crore versus Rs. 35.1 crore. (Rs 39.2 crore QoQ)
GNPA at 2.08 % versus 2.04 %. (QoQ)
Positive for the stock. 👍

🎯 PVR (Q1, YoY) :
Revenue up 26.4 % to Rs.880.4 crore.
Net profit down 69 % to Rs.16.2 crore.
Ebitda up two times to Rs.278.6 crore.

🎯 Jubilant Foodworks Q1:
Consolidated net profit at Rs.9.6 crore versus loss of Rs. 1 crore,
Revenue rises to Rs.152.6 crore versus Rs.128.2 crore YoY.

🎯 Vedanta :
Anil Agarwal, once the biggest shareholder in Anglo American Plc, plans to exit his stake in the diversified mining company.

🎯 Tata Steel :
Company acquired 2.6 crore shares of Tata Sponge Iron at Rs.500 each via the rights issue aggregating to Rs 1,292.2 crore. The company increased its stake from 54.5 % to 75.91 % in Tata Sponge Iron.

🎯 Amara Raja Batteries :
Nalanda India Equity Fund increased its stake from 7.23 % to 9.3 % in the company.

🎯 Shriram Transport Finance :
World Bank’s arm IFC to infuse $200 million in the company to primarily fund purchases of commercial vehicles and support micro, small, and medium enterprises.

🎯 Techno Electric & Engineering :
Company secured order worth Rs.369 crore from Damodar Valley Corporation to set up a gas system.

🎯 Speciality Restaurant :
Company entered into JV with Homage Ventures to setup and operate a restaurant in London.

🎯 TRF Board :
Company approved to sell 100 % stake in its Singapore arm for GBP 3.6 million to England based company Ensco.

🎯 Hubtown :
Company promoter Rushank Shah acquired 19,800 shares on July 24.

🎯 Panache Innovations :
Company signed distribution agreement with Meizhou Guo Wei Electronics Co. Ltd for distributing products in India under the brand Motorola.

🎯 Onelife Capital Advisors :
Company has subscribed 85 % of shareholding of Dealmoney Financial Services Private Limited, thus becoming a subsidiary of the company.

🎯 Techno Electric & Engineering Co. :
Company won order from Damodar Valley Corporation (DVC) for setting up FGD System.
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Edited by Sharp.

25th July, 2019 Morning Brief

Market will open on a positive note today.

Asian stocks had a muted open Thursday amid a mixed picture for corporate earnings.

U.S. stocks pushed higher for a third day as investors looked past weak economic data and mixed corporate results.

Experts feel that slowdown concerns have dampened the sentiment and persistent selling by foreign investors has capped the upside along with muted corporate results. Nifty formed a long legged bearish candle on the daily chart which may signals a bounce-back upto 11385 - 11420 level zone considering support of yesterday's low.

🎯 News & Impact 🎯

Major Results Today :

Bajaj Finance, Bajaj Finserv, Tata Motors, Ambuja cement, Bank of Baroda, Biocon

Results Updates :

🎯 Bharti Infratel (Q1, QoQ) :
Revenue up 3.1 % to Rs.3,712 crore.
Net profit up 45.9 % to Rs.887 crore. Ebitda up 27 % to Rs.1,896 crore.
Margin at 51.1 % versus 41 %.
Positive for the stock. 👍

🎯 PI Industries (Q1, YoY) :
Revenue up 24.5 % to Rs.754.1 crore.
Net profit up 23.4 % to Rs.100.8 crore.
Positive for the stock. 👍

🎯 ICICI Prudential Life Insurance (Q1, YoY) :
Gross premium up 14.7 % to 6329.27 crore.
Net profit up 1.2 % to Rs.284.9 crore.
New business up 26.6 % to Rs.309 crore.

🎯 IDFC First Bank (Q1, YoY) :
Net interest income up 2.3 times at Rs. 1248.3 crore.
Net loss at Rs.611.6 crore versus net profit of Rs.198.9 crore.

🎯 Security and Intelligence Services (India) Q1:
Consolidated profit jumps to Rs.74.91 crore versus Rs 39.5 crore,
Revenue spikes to Rs.2,008.4 crore versus Rs.1,611.4 crore YoY.

🎯 Sugar stocks in focus: Cabinet approved Rs 275 per 100 kg fair price for cane for 2019-20.

🎯 Wind power companies in focus: Government amends bid norms for power procurement from wind projects to incentivise early project start. 

🎯 BHEL and NTPC :
Both the companies signed MoU for forming a JV company to set up a 800 MW Technology Demonstration Plant at NTPC’s existing power plant in Chhattisgarh.

🎯 Sandhar Technologies :
Company signed a JV with Korea’s Han Shin Corporation for manufacturing and selling electronic parts and accessories for the automotive industries in India.

🎯 Power Finance Corporation :
Reliance Capital increased their stake by 2.8 % to 5.15 %.

🎯 Bharat Electronics :
Reliance Capital increased their stake by 2.8 % to 6.05 %.

🎯 Cox & Kings :
Company defaulted on payment of commercial papers worth Rs 174 crore which was due on July 24.

🎯 DHFL :
Company defaulted on payment of NCDs worth Rs 8.07 crore which was due on July 23.

🎯 SpiceJet :
Boeing warned it will consider slowing or even temporarily halting production of the 737 Max, the company’s most important jetliner, if a global flying ban drags on longer than anticipated. SpiceJet has ordered 129 Boeing 737 Max and a halt in production might delay their expansion plans. 

🎯 Cyient :
Company promoters acquired 70,000 shares on July 22.

🎯 McNally Bharat Engineering Company :
Company received one order from SGTORE Company Limited, a Hong Kong based company, relating to work of 'design and engineering, supply of equipment, two years spare parts, three months consumables" en EPS basis, worth Rs 46.7 crore.

🎯 DB Realty :
Promoter created pledge over 15 lakh shares in favour of Anand Rathi Global Finance.

🎯 Cipla :
Cipla USA furthers AMR stewardship with acquisition of key anti-infective ZEMDRI.
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Edited by Sharp.

24th July, 2019 Morning Brief

Market will open on a flat note and may trade cautiously amid volatility ahead of derivative contracts expiry of the July month tomorrow.

Asian shares opened mixed Wednesday as investors weighed signs of progress in U.S.-China trade talks and prospects for the technology industry after the U.S. opened an antitrust probe.

Shares of Amazon, Alphabet and Facebook declined more than 1 percent in post-market trading after the Justice Department opened a broad antitrust review into whether dominant technology firms are unlawfully stifling competition.

Nifty formed a small bearish candle on the daily charts but closed above 11300 levels so going ahead, Nifty has important support around 11300.

🎯 News & Impact 🎯

Major Results Today :

Bharti Infratel, Asian Paints

Results Updates :

🎯 L&T (Q1, YoY) :
Profit grows 21.2 % to Rs.1,473 crore versus Rs. 1,215 crore,
Revenue increases 9.7 % to Rs 29,636 crore versus Rs.27,004.8 crore YoY. 
Positive for the stock. 👍

🎯 Zee Entertainment Enterprises (Q1, YoY) :
Consolidated profit jumps 62.6 % to Rs. 530 crore versus Rs.326 crore,
Revenue rises 13.3 % to Rs 2,008 crore versus Rs.1,772 crore YoY.
Positive for the stock. 👍

🎯 HUL (Q1, YoY) :
Profit rises 14.2 % to Rs.1,755 crore versus Rs 1,529 crore,
Revenue grows 6.6 % to Rs 10,114 crore versus Rs 9,487 crore YoY.
Positive for the stock. 👍

🎯 SBI Life (Q1, YoY) :
Gross Premium up 41 % at Rs 6,694 crore.
Net profit up 5 % at Rs.372 crore.
New Business Premium up 52 % at Rs 3,150 crore.

🎯 Dynamatic Technology :
Company successfully delivered the 5000th shipset of Single Aisle Flap-Track-Beam Assembly for Single Aisle Aircraft (A318, 431 9, 4320 & A321) Family to Airbus. The company is the global single source supplier of FlapTrack-Beam Assemblies. This is the first instance that a functional aero-structure of a major commercial jet is being manufactured by an Indian company.
Positive for the stock. 👍

🎯 Strides Pharma Science : Formulations facility (KRSG Gardens) in Bangalore which was inspected by the USFDA in May 2019, has received the Establishment Inspection Report (EIR), thereby confirming the successful closure of the inspections.
Negative for the stock. 👎

🎯 Vedanta :
A South African court ordered Zambia to halt plans to liquidate and sell copper mines controlled by Indian billionaire Anil Agarwal pending arbitration. 
Negative for the stock. 👎

🎯 Bharti Airtel :
India’s Department of Telecommunications seeks to challenge the merger of Tata Teleservices unit with Bharti Airtel in the Supreme Court in August.
Negative for the stock. 👎

🎯 Reliance Infra and Reliance Capital excluded from F&O Segment.

🎯 TV Today Network :
NCLT approved amalgamation of Mail Today Newspapers and India Today Online with the company.

🎯 Hotel Leelaventure :
SEBI stated that company’s proposed asset sale does not qualify as ‘related party transaction’ except for its plan to the transfer ‘Jamavar’ trademark to Brookfield.

🎯 MCX :
SEBI gives wholly owned subsidiary Multi Commodity Exchange Clearing Corporation Ltd nod to act as clearing corporation for a period of one-year with effect from July 31.

🎯 Mishra Dhatu Nigam :
Company supplied special ultra high strength steel & titanium alloys to Chandrayaan-2.
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Edited by Sharp.

23rd July, 2019 Morning Brief

Market will open on a flat-positive note today after yesterday's fall to make 2 months' low.

Asian stocks opened modestly higher as investors brace for a busy week of U.S. corporate earnings and potential developments in trade negotiations.

Technology shares led gains among U.S. stocks following mixed sessions. 

Nifty formed a "hammer' like candle on daily charts which suggests a rebound
After witnessing a fall from a high of 11,982 on July 5, the index is trading near key support levels and should ideally see a technical bounce back 11322 can be considered as a good support. Market will be volatile ahead of July month derivative contracts' expiry.

🎯 News & Impact 🎯

Major Results Today :

L&T, Hindunilvr, Zee

Results Updates :

🎯 Kotak Mahindra Bank (Q1, YoY) :
Net interest income up 23 % to Rs.3,173 crore.
Net profit up 33 % to Rs.1,360 crore but misses estimate.
NPAs, margin remains stable.
Positive for the stock. 👍

🎯 TVS Motor (Q1, YoY) :
Revenue up 7.2 % to Rs.4,468.6 crore.
Net profit down 2.9 % to Rs.142.3 crore. Ebitda up 10.8 % to Rs.355.8 crore.

🎯 United Spirits (Q1, YoY) :
Revenue up 7.2 % to Rs.2433.1 crore.
Net profit up 37.2 % to Rs. 202.1 crore. Ebitda up 52.2 % to Rs.490.5 crore.
Positive for the stock. 👍

🎯 DHFL :
NSE suspended trading in company’s eight NCDs with effect from July 31. Exchange stated that the reason for the suspension is redemption.

🎯 TVS Motor :
TVS Motor Singapore arm to invest $7 million in Scienaptic Systems.

🎯 BSE :
Company signed MoU with Shanghai Stock Exchange to facilitate maintenance of orderly securities markets in both India and China.

🎯 Alphageo :
Company received a contract of Rs 0.72 crore from Mineral Exploration Corporation Ltd for survey of minerals.
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Edited by Sharp.

22nd July, 2019 Morning Brief

Market will open on a lower side today.

Pre-existing factors such as economic and consumption slowdown, consistent FII selling after Finance Minister Nirmala Sitharaman denied to tweak surcharge on the super-rich and relentless asset quality concerns added more fuel to the fire to slide on Friday and made a long bearish candle on the daily chart.

Stocks in Asia kicked off the week on a cautious note as traders dialled back expectations on the size of Federal Reserve easing later this month. Oil rose in early Monday trading ahead of an emergency meeting by U.K. officials to discuss the security of shipping in the Persian Gulf after Iran seized a British oil tanker last week.

U.S. stocks extended weekly losses amid mounting tension in the Persian Gulf and as investors speculated the Federal Reserve will limit a rate cut to a quarter-point.

🎯 News & Impact 🎯

Major Results Today :

Kotak Bank

Results Updates :

🎯 Reliance Industries (Q1, QoQ) : Revenue up 5.6 % to Rs.88,263 crore.
Net profit up 5.6 % to Rs.9,036 crore. Ebitda down 0.5 % to Rs.13,640 crore. Ebitda margin at 15.5 percent versus 16.4 %. Gross revenue margin down 1.2 % to $8.1 a barrel.
Reliance Jio (Q1, QoQ) :
Revenue up 5 % to Rs 11,679 crore.
Net profit up 6 % at Rs. 891 crore.

🎯 HDFC Bank Q1:
Profit grows 21 percent to Rs 5,568.2 crore versus Rs 4,601 crore, NII jumps 22.9 percent to Rs 13,294 crore versus Rs 10,813.6 crore YoY; gross NPA rises to 1.40 percent versus 1.36 percent and net NPA increases to 0.43 percent versus 0.39 percent QoQ.

🎯 InterGlobe Aviation (Q1, YoY) :
Revenue up 45 % at Rs.9,420 crore.
Net profit up 43 % at Rs.1,203 crore.
Positive for the stock. 👍

🎯 L&T Finance Holdings (Q1, YoY) :
Net Interest Income up 20.1 % to Rs. 1,389.9 crore.
Net profit up 7.5 % to Rs 578.8 crore.
Positive for the stock. 👍

🎯 Avanti Feeds (Q1, YoY) :
Revenue up 5.1 % to Rs 1,093.5 crore.
Net profit up 12.7 % to Rs 101.5 crore.

🎯 Reliance Industries :
Brookfield plans to acquire stake in Tower Infrastructure Trust - Reliance Jio lnfratel Private Limited – for Rs 25,215 crore.
Positive for the stock. 👍

🎯 Jet Airways :
Company's lenders approved resolution to raise interim finance and key terms for the eligibility criteria for the prospective resolution applicants.

🎯 IOL Chemicals & Pharma :
Company said that they have made a prepayment of Rs.15.39 crore due to banks on July 19 and a totally prepaid Rs. 84.18 crore of loans to reduce debt of the company.

🎯 Grasim Industries :
Board of Aditya Birla Idea Payments Bank has approved the voluntary winding up of the company.

🎯 Gruh Finance :
Board approved to increase total shareholding of all registered FPIs/FIIs from 24 % to 40 %.

🎯 Strides Pharma :
Announced successful completion of the U.S. FDA inspection at its flagship facility in Bangalore.

🎯 CG Power :
Bagged contract for a 400 MW wind farm in Saudi Arabia.

🎯 Cipla :
U.S. FDA inspection at the company’s facility in Virgonagar, Bangalore ended with seven observations.

🎯 Dr Reddy's :
Announced closure of the transaction with Upsher-Smith Laboratories, LLC.

🎯 BHEL :
Company secured order worth Rs.486 crore for erection work from Nuclear Power Corporation of India.

🎯 Bosch :
To suspend all manufacturing operations in company’s Gangaikondan plant in Tamil Nadu from July 23-27 to adjust production to meet the demand and avoid unnecessary buildup of inventory.

🎯 Anuh Pharma :
Company facility has passed the joint inspection by AEMPS - Spain, EDQM and WHO-Geneva conducted on November 26-28, 2018.

🎯 Om Metals Infraprojects :
Company acquired additional 24 % shareholding in Gujrat Warehousing Private Limited by way of conversion of loan into equity shares, thereby making it as subsidiary company.

🎯 Mcnally Bharat :
Company received one order from NLC India Limited, relating to work of Formation of Internal & Peripheral roads and Construction of culverts' located at Talabira R&R colony in Odisha worth Rs. 10.43 crore.

🎯 ARSS Infrastructure :
Company's JV received work order of Rs 77.96 crore for construction of earth work, bridge work, protection work for minor and major bridges, slope of bank, buildings, site facilities, general electrical works and other miscellaneous works in connection with the doubling of Sambalpur - Titlagarh in Sambalpur Division of East Coast Railway, from Rail Vikas Nigam Limited.
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Edited by Sharp

19th July, 2019 Morning Brief

Market will open on a positive note today with global support after yesterday's fall.

Asia stocks tracked an advance in U.S. shares as New York Federal Reserve said its President, John Williams, wasn’t sending a specific policy signal for a rate cut.

US stocks moved higher on Thursday after a slow start as comments from New York Fed President John Williams helped cement expectations for an interest rate cut from the US central bank at the end of the month.

Bears regained control of D-Street after 3 straight sessions of gains on Thursday and pushed the Nifty50 index below 11600 while Sensex also gave up 39000 towards the close. Trade war concerns led to a fall in US markets on July 17 while muted results from India Inc were a dampener for domestic investors.

🎯 News & Impact 🎯

Major Results Today :

Reliance Industries

Results Updates :

🎯 L&T Infotech (Q1, Consolidated, QoQ) :
Dollar revenue up 0.8 % at $356.5 million.
Revenue flat at Rs.2485 crore.
Net profit down 6.1 % at Rs.355.8 crore.

🎯 ACC (Q2CY19 Standalone, YoY) :
Revenue up 7.8 % at Rs.4149.72 crore.
Net profit up 38.6 % at Rs 451.3 crore.
Ebitda up 25.3 % at Rs.781.68 crore.

🎯 Sterlite Technologies (Q1, Consolidated, YoY) :
Revenue up 63.3 % at Rs.1432 crore.
Net profit up 17.1 % at Rs.141.4 crore.
Ebitda up 32 % at Rs 323.4 crore.
Margin at 22.6 %.
Positive for the stock. 👍

🎯 Thermax :
Company secured orders worth Rs 471 crore from an Indian government power company to set up FGD systems in Jharkhand.

🎯 Reliance Nippon :
CCI has approved acquisition of up to 75 percent stake in Reliance Nippon Life Asset Management by Nippon Life Insurance Company.

🎯 Gufic Biosciences :
Company has received regulatory approval to manufacture bacteria which will be used in therapeutic and aesthetic procedures.

🎯 Vodafone Idea :
Company hired Bank of America and Morgan Stanley to help sell its fiber assets which could be valued at Rs 13,000 crore. 

🎯 NHPC :
Company stalled Subansiri Lower hydropower project has been revised to an estimated Rs 20,850 crore from the original cost of Rs 6,285 crore approved in 2003.

🎯 Cyient :
Board announced merger of Cyient DLM and Cyient Insights into the company.

🎯 Srei Infra :
SREI Infra and its arm Srei Equipment Finance have withdrawn amalgamation plans of both entities due to developing market conditions in NBFC sector.

🎯 Tata Motors :
Company incorporated wholly owned unit Brabo Robotics & Automation w.e.f July 17.
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Edited by Sharp

18th July, 2019 Morning Brief

Market will open on a flat note today and may trade with a sluggish manner.

Stocks in Asia tracked losses seen in the U.S. session amid a flurry of corporate earnings and lingering concern over the Sino-American trade dispute.

U.S. stocks fell as investors assessed mixed corporate earnings amid concern over the U.S.-China trade spat.

🎯 News & Impact 🎯

Major Results Today :

Larsen & Toubro Infotech, ACC, Colgate Palmolive (India).

Results Updates :

🎯 Yes Bank (Q1, YoY) :
Net interest income up 2.8 % to Rs. 2,280.84 crore.
Net profit down 90 % to Rs 113.76 crore.
Provisions up 2.85 times to Rs 1,784.11 crore.
Gross NPAs at 5.01 % versus 3.22 %.(QoQ).

🎯 Wipro (Q1, QoQ) :
IT services revenues down 1.8 % to $2039 million.
Revenue down 2.5 % to Rs.14786 crore.
Net profit down 3.7 % to Rs.2402 crore.

🎯 DFM Foods :
Company stated that they will commission a new extrusion line which will add 5,000 MT per annum capacity for an investment of Rs 20 crore and have also taken an industrial premise on a long term-lease in UP.

🎯 Punjab and Sind Bank :
Bank reported fraud of Rs 238.3 crore in Bhushan Power and Steel account. Provisions of Rs 189.35 crore have been made.

🎯 DHFL :
Company defaulted in payment of interest on NCDS, amounting to Rs 23.75 crore, which were due on July 16.

🎯 Torrent Pharma :
U.S. FDA classified company’s Dahej facility as Official Action Initiated.

🎯 Strides Pharma :
Company clarified that it had received warning letter from U.S. FDA for its Puducherry facility.

🎯 Allahabad Bank :
Bank reported fraud of Rs.688.27 crore in SEL Manufacturing and the NPA account has been fully provided for this amount.

🎯 Oil India :
Company stated in their press release that they have been awarded 12 oil and gas blocks under Open Acreage Licensing Policy of the government.
Positive for the stock. 👍

🎯 Newgen Software Technologies :
Company secured patent for automated assessment of scanned documents.

🎯 Jammu Kashmir Bank :
Bank stated in its annual report 11 cases of frauds were reported to the RBI involving an amount of Rs.182.9 crore for financial year 2019.

🎯 Eveready Industries :
Company promoters invoked pledge of 26 lakh shares on July 8.
Positive for the stock. 👍

🎯 Mcleod Russel :
Company promoter Williamson Financial Services invoked pledge of 40.8 lakh shares on July 8.
Positive for the stock. 👍

🎯 JSW Steel :
Company promoters created pledge of 55 lakh shares and released pledge of 77 lakh shares from July 8-11.
Negative for the stock. 👎

🎯 JSW Energy :
Company promoters released pledge of 2.64 crore shares on July 9.
Positive for the stock. 👍

🎯 Aurobindo Pharma :
Company promoter Nityananda Reddy created pledge of 2 lakh shares on July 16.
Negative for the stock. 👎

🎯 Future Lifestyle Fashions :
Company promoter Ryka Commercial Ventures revoked pledge of 1.75 lakh shares on July 16.
Positive for the stock. 👍

🎯 Apollo Hospitals :
Company promoter PCR Investments released pledge of 80,000 shares from July 15-16.
Positive for the stock. 👍
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Edited by Sharp.

17th July, 2019 Morning Brief

Market will open on a flat note today.

Caution returned to Asian equities Wednesday after losses seen in the U.S. session in the wake of President Donald Trump threatening China with more tariffs.

U.S. stocks fell from a record high as President Donald Trump said he could impose more tariffs on China, reminding investors that the trade spat remains unresolved.

🎯 News & Impact 🎯

Major Results Today :

Wipro, Yes Bank

🎯 Strides Pharma Science Ltd. :
U.S. Food and Drug Administration inspectors said they found what appeared to be records awaiting shredding at Strides Pharma Science Ltd.’s manufacturing facility in Puducherry. 

🎯 Suzlon Energy :
Company defaulted on the payments of bonds worth $172 million which was due on July 16.

🎯 Bharat Heavy Electricals :
Company received a notice of termination from NMDC for the construction of raw material handling system at NMDC’s steel plant in Chhattisgarh.

🎯 IL&FS Engineering & Construction : BSR & Associates resigned as the joint statutory auditor of the company on July 14. 

🎯 Cox & Kings :
Company defaulted on payments of interest of Rs 41 lakh on NCDs due on July 15 and defaulted in payment of commercial papers worth Rs 45 crore due on July 16.

🎯 KNR Constructions :
Company received work order for Rs. 847.34 crore from Navayuga Engineering for an irrigation project.

🎯 Vedanta :
Company Cairn and Gas won 10 oil blocks in the second and third round auctions as a part of Open Acreage Licensing Policy of the government.

🎯 DCB Bank :
Bank made an offer to Abu Dhabi Commercial Bank to acquire business of certain customer’s accounts amounting to Rs 1,155 crore of deposits and Rs 997 crores of advances.

🎯 Astron Paper & Board Mill :
Company stated in their press release two plants in its Gujarat unit will be shut down from July 16-23 due to maintenance of boiler plant.

🎯 Tata Power :
Company's arm sold 50 MW solar power to NTT Com-Netmagic, under the captive structure.

🎯 Nocil :
Company promoter Sushipada Investments created pledge 2.45 lakh shares on July 16.

🎯 Indo Rama Synthetics :
Company promoter Urmila Lohia released pledge of 1.24 crore shares on July 9.

🎯 Hotel Leelaventure :
Company promoter group Leela Fashions revoked pledge of 7 lakh shares on July 11.

🎯 Eveready Industries :
Company promoter Williamson Magor invoked pledge of 13 lakh shares on July 8.
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Edited by Sharp.

16th July, 2019 Morning Brief

Market will open on a flat note today.

Asian stocks were mixed in early Tuesday trading as investors looked to earnings and clues from policy makers for the next catalyst.

A technology rally drove U.S stocks to fresh records.

Major Results Today :
HDFC AMC

🎯 News & Impact 🎯

🎯 Brigade Enterprises :
Bonus issue 1:2

🎯 DHFL :
Banned in F&O from 27th Sept.

🎯 Reliance Infra :
Company paid and redeemed 173 NCDs from invocation of pledged shares by debenture holders and now 1162 NCDs are outstanding under Series 20 of NCDs.

🎯 Tata Motors JLR :
Company to get 500 million pounds loan guarantee from the U.K. export to support development of electric cars, Prime Minister Theresa May, said.

🎯 Page Industries :
Cartica Capital decreased stake in the company from 5.01 % to 2.98 %.

🎯 Aditya Birla Fashion :
Company acquired 51 % stake in Finesse International Design for Rs 60 crore.

🎯 State Bank of India :
RBI levied a penalty of Rs.7 crore for violating income recognition rule.

🎯 L&T Finance :
IL&FS signed a binding term sheet with secured lenders of three projects, as part of its resolution process. 

🎯 Jubilant Life Sciences :
Company announced a price hike of 10 percent for Vitamin B3 with immediate effect for non-contract customers and existing contracts.

🎯 Union Bank :
RBI levied penalty of Rs.10 lakh for non-compliance of cyber rules.

🎯 Greaves Cotton :
Company increased share in Ampere Vehicles to 81.23 % for Rs.16 crore.

🎯 Jindal Steel & Power :
Company promoter OPJ Trading created pledge of 22.8 lakh shares on July 8.
Negative for the stock. 👎

🎯 Indo Rama Synthetics :
Company promoter Om Prakash Lohia released pledge of 3.8 crore shares on July 9.
Positive for the stock. 👍

🎯 Sun Pharma :
Company promoter Shanghvi Finance created pledge of 4 lakh shares on July 9.
Negative for the stock. 👎

🎯 Cox & Kings :
Company promoter Sneh Sadan Traders invoked pledge of 2.3 lakh shares from July 11-12.
Positive for the stock. 👍

🎯 Eveready Industries :
Company promoter Williamson Financial Services invoked pledge of 13 lakh shares on July 8.
Positive for the stock. 👍

🎯 Tourism Finance Corporation : Company promoter Redkite promoter created pledge of 61.78 lakh shares from July 10-12.
Negative for the stock. 👎

🎯 McLeod Russel :
Company promoter Williamson Financial Services invoked pledge of 20.4 lakh shares on July 8.
Positive for the stock. 👍

🎯 Apollo Hospital Enterprises :
Company promoter PCR Investments created pledge of 60 lakh shares and revoked pledge of 38.45 lakh shares on July 10.
Negative for the stock. 👎
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Edited by Sharp.

15th July, 2019 Morning Brief

Market will open with a gap up on expectations of interest rate cut on a controlled inflation rate though it was at eight months' high and above expectation IIP numbers released last week.

U.S. equities closed at a record high for a second straight day, and recorded a second consecutive weekly advance, as investors remained cautiously optimistic about prospects for easier monetary policy, despite a bigger-than-projected rise in a key inflation measure.

Asian stocks began the week with a cautious tone as investors turned their attention to upcoming data on Chinese economic growth amid expectations for further policy support.

India June CPI rose 3.18 % versus 3.05 % in May.
India May IIP rose 3.1 % YoY; Estimated 2.9 %.

India June Wholesale Prices Inflation data and India June trade balance data to be released in this week.

🎯 News & Impact 🎯

🎯 Infosys Q1 QoQ :
Revenue up 1.2 % to Rs.21,803 crore.
Net profit down 6.7 % to Rs.3802 crore.
EBIT down 3.2 % to Rs.4471 crore.
Margin at 20.5 % versus 21.4 %.

Company approved follow-on investment of $6 million in Trifacta Inc.

🎯 Karnataka Bank (Q1 YoY)
Net interest income rises 5 % to Rs 494 crore.
Net profit rises 7 % to Rs 175 crore.
Provisions down 8 % to Rs 201 crore (QoQ).
GNPA rise to 4.55 % (QoQ).
NPA rise to 3.33 % (QoQ).

🎯 Avenue Supermarts (Q1, YOY) :
Revenue up 27 % to Rs 5,815 crore.
Profit up 32 % to Rs 323 crore.

🎯 DHFL (Q4, YoY) :
NII up 45 percent to Rs 664.52 crore.
Loss at Rs 2,223 crore versus Rs 134 crore.
Defaults on NCD interest payments worth Rs 48 crore.

🎯 IGE Group :
Company deplored misinformation on corporate governance.

🎯 Grindwell Norton formed JV with Shinagawa Refractories, Japan for tap hole clay refractory products for steel industry.

🎯 Emami :
Company said to pick Arpwood and Credit Suisse for cement unit sale.

🎯 BHEL :
Won an order worth Rs.100 crore for setting up a 25 MW floating solar photovoltaic power plant on EPC basis from NTPC.

🎯 Allahabad Bank :
Bank reported a fraud of Rs.1,775 crore by Bhushan Power & Steel to RBI.

🎯 Narayani Steels :
Company entered into business transfer agreement with Narayani Ispat Limited, Jamshedpur business unit which is situated in Jharkhand for the growth and development/betterment of the company.

🎯 Urja Global :
Company entered in an agreement with Nippon Shinyaku Co, Japan for supply of product i.e. Zacobite for the five years.

🎯 Eco Recycling :
Bonus 10:1

🎯 Ultracab India :
Nitesh Vaghasiya, CMD has signed a Memorandam of Understanding (MOU) with Himachal Pradesh Chief Minister Jai Ram Thakur for proposed new plant for manufacturing of LT and HT cables and further expansion of manufacturing facilities.

🎯 Seamec :
Vessel 'Seamec Princess' has sailed to Colombo, Sri Lanka on July 12, 2019 to undergo statutory Dry Dock.
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Edited by Sharp.

12th July, 2019 Morning Brief

Market will open on a positive note today.

Stocks in Asia traded mixed Friday as trade-tensions resurfaced. 

U.S. equities rallied late to close at a record high, while Treasuries retreated after the latest American inflation reading came in hotter than anticipated.

Market may trade with caution ahead of India June Consumer Price inflation and India May Industrial Production.

🎯 News & Impact 🎯

🎯 KPR Mill becomes the first company to cancel its buyback plan after Budget 2019 imposed a tax on repurchase of shares.

🎯 Himachal Futuristic :
Company won Rs.199 crore order from BEL for supply of Optical Fibre Cables.

🎯 Gravita India :
Company started commercial production of aluminum cast alloys from its new plant in Tanzania, Africa. The facility has a total capacity of 6,000 MTPA and expects to generate Rs 20 crore in revenue along with gross margin of 15 percent from this plant in fiscal 2020.

🎯 Salzer Electronics :
Company completed acquisition of 72.32 percent stake in Kaycee Industries.

🎯 KSK Energy Ventures :
Company said NCLT admits insolvency resolution plea filed by Axis Bank for subsidiary Sai Lilagar Power Generation Ltd.

11th July, 2019 Morning Brief

Market will open with a gap up today.

U.S. stocks rose toward all-time highs, gold rallied and the dollar fell as comments of Federal Reserve Chairman Powell hinted at rate cuts.

Asian stocks posted modest gains, following their U.S. counterparts, after comments by Federal Reserve Chairman Jerome Powell comments signalled a rate cut this month.

🎯 News & Impact 🎯

Results Updates :

🎯 GTPL Hathway (Q1, YoY) :
Revenue up 50 % to Rs. 445.5 crore.
Net profit up 123 % to Rs.29 crore.
Ebitda up 37 percent to Rs. 107 crore.
Positive for the stock. 👍

🎯 Sun Pharma :
Company gets US FDA approval for Risedronate Sodium Tablets.

🎯 Aurobindo Pharma :
Company to launch Cinacalcet Hydrochloride Tablets in the U.S. Cinacalcet Hydrochloride tablets had an annual sale of approximately $1.5 billion for the twelve months ending May as per IQVIA.

🎯 Cox & Kings :
Company clarified that it had not defaulted on interest payment on its NCD as the date for the payment of interest due is as of Aug. 5, and not June 30 as brought to its notice by the debenture trustee/subscriber.

🎯 Religare Enterprises :
Company to sell Religare Finvest to TCG advisory.

🎯 Ajmera :
Company realty to jointly develop commercial units at Ghatkopar.

🎯 Saksoft Ltd. :
Company completed the acquisition of Dreamorbit.

🎯 TCS :
Company iON, strategic unit of company, collaborated with All lndia Council for Technical Education (AICTE) to equip students with career skills.

🎯 MSTC :
Company in pact with Heavy Engineering Corp for scrap disposal.

🎯 TVS Motor Company :
Company launched a new 100cc motorcycle, TVS Sport in Sri Lanka.

🎯 Premier Explosives :
Company secured orders worth Rs.15 crore from Bharat Dynamics for supply of solid propellants for Medium Range Surface to Air Missiles.

🎯 V-Mart :
Company retail opened a new store in Uttar Pradesh.

🎯 Greaves cotton :
Company raised stake in unit Ampere Vehicles for Rs. 22.5 crore.

🎯 Bhageria industries :
Company said GIDC passed order in favor of company for transfer of 13.679 sq. mt land at Vapi.

🎯 RTS Power Corporation :
Company proposed to set up its new factory at its land at Parasrampura, Rajasthan for the manufacturing of steel wires and strips, galvanized and non-galvanized and other downstream products made out of steel wires and strips, galvanized and non-galvanized of the capacity of 12000 MT per annum.

🎯 Premier Explosives :
Company received an order from Bharat Dynamics Limited (BDL) for supply of solid propellants for Medium Range Surface to Air Missile (MRSAM) for a value of Rs.14.99 crore to be executed within a period of 14 months.

🎯 Prime Customer Services :
SMERA has assigned the highest rating to company as MSE Rating -1 which indicates highest credit worthiness in relation to other MSEs.

🎯 Adani Green :
Company promoters Adani Trading created pledge on six crore shares.
Negative for the stock. 👎
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Edited by Sharp.

10th July, 2019 Morning Brief

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

Stocks in Asia were trading mixed after a subdued session on Wall Street, with investors awaited clues on policy from Federal Reserve Chairman Jerome Powell.

U.S. stocks closed a whisker higher after treading water for most of the session as markets braced for an onslaught of central bank news this week.

A small bullish candle resembling a Hammer kind of pattern has been formed on the daily charts.
The formation of this kind of pattern suggests some positive reversal if 11520  level is held.

A small positive candle was formed with long lower shadow. Technically, this pattern indicates a high wave type candlestick pattern. Normally, a formation of such high wave type candle patterns after a reasonable weakness could be viewed for a minor upside bounce. Short term trend of Nifty is in the process of showing upside bounce from the lows. Important supports to be watched around 11,450-420 levels and crucial overhead resistance is placed around 11665 levels.

🎯 News & Impact 🎯

🎯 Tata Consultancy Services (Q1, QoQ) :
Revenues up 0.4 % at Rs.38,172 crore.
Net profit up 0.1 % at Rs.8,131 crore.
Ebit down 3 % at Rs.9,220 crore.
Margin narrowed to 24.2 % versus 25.1 %.

🎯 InterGlobe Aviation :
Company said the company received a letter dated July 8 from Rakesh Gangwal, informing the company that he has written a letter to the SEBI seeking regulatory intervention on his alleged grievances regarding questionable transactions and governance violations. In the meantime, SEBI has asked the company to give its response to this letter by July 19.

🎯 Manpasand Beverages :
Mehra Goel & Co. resigned as the statutory auditor of Manpasand Beverages.

🎯 Dr. Reddy :
Company's Andhra Pradesh units two observations under Form 483 from the U.S.FDA.

🎯 Mawana Sugar :
Company said Uttar Pradesh Co-operative Bank Ltd. has sanctioned soft loan of Rs 116.40 crore to the company to clear the outstanding dues of the farmers for the crushing season 2018-19.

🎯 NLC :
India commissions 63 MW of the 100 MW solar power plant at Tamil Nadu with effect from July 7.

🎯 BHEL and Container Corp :
These duo to form Joint Working Group to establish rail-based logistics terminal at Haridwar.

🎯 Autoline Industries :
Company said the government of Maharashtra has approved additional Industrial Promotion Subsidy IPS claim of Rs.44.61 crores.

🎯 Himachal Futuristic Communications :
Company received a purchase order worth Rs.186.9 crore from BSNL for setting up of optical transmission backbone network for Armed forces.

🎯 VST Tillers :
Company said Uttar Pradesh Co-operative Bank Ltd. has sanctioned soft loan of Rs. 116.40 crore to the company to clear the outstanding dues of the farmers for the crushing season 2018-19. 

🎯 Bharti Airtel :
Airtel Africa lists 3.76 billion shares on Nigeria's stock market at 363 Naira each.
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Edited by Sharp.

9th July, 2019 Morning Brief

Market will open on a negative note continueing yesterday's slide today.

Asian stocks saw a muted start to trading Tuesday after their U.S. counterparts slipped overnight.

U.S. equities fell as investors took a cautious approach to a week full of central bank activity.

The key testimony from Federal Reserve Chairman Jerome Powell this week will be closely watched, as investors assessed prospects for monetary easing following some conflicting signals on the US economy. Federal Reserve Chairman Jerome Powell testifies before Congress on monetary policy and the state of the US economy on Wednesday (the House of Representatives) and Thursday (the Senate).

🎯 News & Impact 🎯

🎯 Titan :
The company stated that the quarter witnessed a tough macro-economic environment with consumption being hit.

🎯 Larsen and Toubro : 
To merge its shipbuilding arm with self.

8th July, 2019 Morning Brief

Market will open on a flat note after a slide experienced in Friday after the budget announcement.

Stocks in Asia dipped at the start of the week after their U.S. counterparts retreated.

U.S. stocks fell from all-time highs, Treasuries tumbled and the dollar rallied after a strong jobs report clouded the Federal Reserve’s rate plans.

Nifty has kept respect of the level of 11960 and tumbled on the reaction of Budget speech outcome. Nifty has made a big bearish candle on the daily chart. It's interesting to see whether it holds the 11660 level or pierce upto 11420 level in coming days.

🎯 News & Impact 🎯

🎯 Siemens :
Company sold its lease hold interest in Gujarat for Rs 158.5 crore to LM Wind Power Bladed and further assignment to be sold worth Rs 35 crore is subject to receipt of approval from authorities.

🎯 HT Media, Hindustan Media Ventures : Price Waterhouse resigned as statutory auditors with effect from July 5.

🎯 Team Lease Services :
Company increased its stake by 26 percent to 76 percent in Cassius Technologies.

🎯 Unichem Laboratories :
Company incorporated its China arm under the name of Younikaimo Pharma for sale in China of formulations and API ingredients manufactured by the company.

🎯 Aster DM Healthcare :
Company incorporated Aster Clinical Lab for a proposed Rs 40 crore. Company to carry on the pathology business.

🎯 Quickheal Technologies :
Company granted U.S. patent for anti-ransomware technology.

🎯 Zuari Agro Chemicals :
Informs about the shutdown of Urea/ Ammonia plants due to tube leak of PG-Reboiler in the CO2 removal section of the plant.

🎯 The Indian Hume Pipe :
Government of Andhra Pradesh terminated two contracts worth Rs.701.7 crore related to construction of drinking water supply projects, owing to change in the policy of the Government. 

🎯 India Grid Trust :
Completed acquisition of two power transmissions assets from Sterlite Power for an enterprise value of Rs.5,025 crore. 

🎯 Mcleod Russel :
Company promoters invoked pledge of 76.2 lakh shares from June 10-26.

🎯 City Union Bank :
Bank is registered as a mutual fund distributor with BSE Star Mutual Fund platform for distribution and redemption of mutual fund units in India through web based platform.

🎯 BLS International Services :
Company which was hitherto operating the Premium Lounge and other services as per the contract with Sopra Steria Limited on behalf of the United Kingdom Visas & Immigration (UKVI) have transferred the operational delivery of these services to Sopra Steria Limited.

🎯 SunEdison Infrastructure :
Company approved the acquisition of Megamic Electronics Private Limited and Enrecover Energy Solutions Private Limited.

🎯 KPI Global :
Company signed Power Purchase Agreement (PPA) with B N Papers, Surat for sale of 1.10MW solar power for a period of 15 years under the category of Independent Power Producer (IPP).

🎯 Competent Automobiles Company : Company has concluded the sale of its immovable property situated at Dada Bari, Mehrauli, New Delhi for a total consideration of Rs 31 crore.

🎯 Kalpataru Power Transmission :
Company promoter group Kalpataru Properties revoked pledge of 10 lakh shares on July 3.

🎯 Max Financial Services :
Company promoter group Max Ventures Investment Holdings created pledge of 1 lakh shares on July 2.

🎯 Adani Ports & SEZ :
Company promoter group Gautam Adani created pledge of 2.6 crore shares on July 3.

🎯 Future Retail :
Company promoter Future Corporate Resources invoked pledge of 21.12 lakh shares on July 3.
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Edited by Sharp.

5th July, 2019 Morning Brief

Market will open on a flat note today and may remain volatile ahead of expectations and announcements from the Budget.

Asian stocks traded mixed Thursday after holiday closures for U.S. equity and bond markets meant there were few leads overnight for traders.

All eyes will be on Nirmala Sitharaman's first budget speech as the finance minister. Looking at the key aspects from the Survey market participants eye key policy measures in sectors which support the economy such as agri, rural consumption, automobiles, banking, NBFCs, etc.

Nifty formed a bullish candle on the daily charts for the 4th straight session of gains. I repeat again that Nifty should sustain and close above 11960 to head towards it's historical high.

🎯 News & Impact 🎯

🎯 Biocon :
Company’s sterile drug product facility received EU GMP certification.

🎯 Yes Bank :
Bank received SEBI approval to launch mutual fund business.

🎯 Seamec :
Company, in consortium with Kreuz Subsea, enters into $22 million deal with ONGC for charter hire of vessel.

🎯 L&T Finance Holdings :
Company will receive $550 million in an ECB investment round anchored by IFC, a member of the World Bank Group, and BNP Paribas, Citibank, and DBS Bank Limited.

🎯 Commercial Syn Bags :
Company received letter of intent from Madhya Pradesh Industrial Development Corporation (MPIDC), for allotment of leasehold land admeasuring 40000 square metre in Industrial Area Pithampur- 6 District Dhar (M.P.) for new project.

🎯 GMR Infra :
Group sold entire stake of 47.62 % in GMR Chhattisgarh Energy to Adani Power.

🎯 Som Distilleries & Breweries : Company proposed arm acquires brewery in Odisha for Rs.46 crore.

🎯 Intellect Design Arena :
Company in pact with Banco Santander for implementation of its digital transaction banking platform.

🎯 FIEM Industries :
Company partnered with Toyodeso, Japan and Toyota Tsusho, Japan for manufacturing of bank angle sensor for motorcycles in the Indian market.

🎯 Future Lifestyle :
Company to acquire up to 29.9 % in Koovs for Rs.140 crore.

🎯 Eveready Industries :
Company acquired 9.47 % stake in company.
Positive for the stock. 👍

🎯 Nath Bio Genes (India) :
Company promoters released pledge on shares held by ARCIL after clearing all outstanding loans.
Positive for the stock. 👍

🎯 DCM Shriram :
Company promoters acquired 2.61 lakh shares from July 2–3.
Positive for the stock. 👍

🎯 Menon Bearings :
Company promoters acquired 27,000 shares from June 21–29.
Positive for the stock. 👍

🎯 Infibeam Corporation :
Company promoters acquired 6.56 lakh shares from July 2–3.
Positive for the stock. 👍

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Edited by Sharp.

4th July, 2019 Morning Brief

Market will open on a flat note today ahead of Budget day outcome.

Asian stocks saw modest gains Thursday after their U.S. counterparts rose to all-time highs in thin trading ahead of a holiday.

Nifty formed a Doji kind of pattern on daily chart. Nifty should close above 11960 to reclaim the new high again. Market may remain volatile ahead of Budget outcome today and tomorrow.

🎯 News & Impact 🎯

Listing Today :

🎯 IndiaMART InterMESH 

🎯 Vedanta :
Company awarded 10 exploration blocks in India at a total bid cost $245 million.
Positive for the stock. 👍

🎯 Uniply Industries :
Markab made an open offer of 4.95 crore shares, or 26 % of the voting share capital at Rs.82 per share, aggregating to Rs. 405.62 crores.

🎯 Cox & Kings :
Company defaulted in the payment of interest on NCDs worth Rs 7.2 crore which were due on June 30. Principal amount of NCDs stood Rs 300 crore.
Negative for the stock. 👎

🎯 Bharti Airtel :
NCLT approved the transfer of company’s optical fibre cable business to Telesonic Networks.

🎯 Mindtree : 
Nalanda India Fund reduced stake from 10.6 % to 1.71 % in the company. 

🎯 Indian Oil Corporation :
Company hired a Panama-flagged VLCC Bright Pioneer on long-term time charter for five-seven years for importing crude oil.

🎯 KPI Global Infrastructure :
Company has successfully added new capacity of 8.827 MW under 'Independent Power Producer (IPP)' category and with this addition, the total cumulative capacity of solar power plant in operation has gone up to 26.25 MW.

🎯 Creative Eye :
Company to enter into a digital space by creating a new web series 'Ishq Aaj Kal' for OTT Platform ZEE 5.

🎯 Axis Bank :
Enforcement Directorate attached Rs 4.58 crore in bank fraud case.
Negative for the stock. 👎

🎯 Tourism Finance Corporation of India :
Company promoter Redkite Capital created pledge of 66.32 lakh shares from March 6-June 27.
Negative for the stock. 👎

🎯 Max Financial Services :
Company promoter group Max Ventures Investment created pledge of 29.1 lakh shares and released pledge of 29 lakh shares from June 27-29.
Negative for the stock. 👎

🎯 Apollo Hospital Enterprises :
Company promoter group PCR Investments created pledge of 12.15 lakh shares on June 28.
Negative for the stock. 👎

🎯 Arshiya :
Company promoter and director Ajay Mittal invoked pledge of 90,000 shares on June 27.
Positive for the stock. 👍

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Edited by Sharp.

3rd July, 2019 Morning Brief

Market will open on a positive note today.

Stocks in Japan, South Korea and Australia recouped some of yesterday’s declines as investors continue to weigh the impact of potential global trade restrictions on economic growth.

U.S. stocks reversed early losses to trade higher on light volume yesterday.

Nifty forms a bullish candle which also resembles a Hanging Man kind of pattern on daily chart. Now it will be interesting to check whether it crosses the resistance of 11960.

🎯 News & Impact 🎯

🎯 BILT :
ITC and Ballarpur Industries clarify that no negotiations have taken place for ITC acquiring BILT’s Telengana unit.

🎯 Parag Milk Foods :
Company board approved acquiring patented product rights from Sweden-based organization.

🎯 Strides Shasun :
Company received U.S. FDA approval for Ibuprofusen tablets.
Positive for the stock. 👍

🎯 Tata Power :
Company arm commissioned 100MW solar capacity in Andhra Pradesh.
Positive for the stock. 👍

🎯 NCC :
Company received four new orders worth Rs 2,061 crore for June.
Positive for the stock. 👍

🎯 Rico Auto Industries :
Company shut loss making unit in Haryana.

🎯 Kwality :
Promoter Sanjay Dhingra sold 13 lakh shares or 0.54 % equity at Rs 22.07 each.
Negative for the stock. 👎

🎯 DCM Shriram Industries :
Promoter Lily Commercial Pvt Ltd acquired 1.06 lakh shares or 0.61 % equity at Rs.132.29 each.
Positive for the stock. 👍

🎯 Jain Irrigation Systems :
Company promoter acquired 4 lakh shares from June 28-29.
Positive for the stock. 👍

🎯 Ruchi Soya Industries :
Company promoters sold 2 lakh shares on June 29.
Negative for the stock. 👎

🎯 Shakti Pumps :
Company promoter group acquired 10,000 shares on June 29.
Positive for the stock. 👍

🎯 Kalpataru Power :
Company to buy balance 19.94 % stake in Shubham Logistics for Rs 64.66 crore. Its stake in SSL increased to around 100 %.

🎯 Graphite India :
Company decided to permanently close operations in the Bengaluru plant in Whitefield.

🎯 Mindtree : 
L&T increased its stake in company to 60.06 percent after buying shares between June 17-28.

🎯 KPI Global :
Company has signed new power purchase agreements (PPAs) totaling 1.475 MW for executing solar power project under 'Independent Power Producer (IPP)' category.

🎯 UCO Bank :
Reserve Bank of India has imposed penalty of Rs.50 lakh on bank.
Negative for the stock. 👎

🎯 Allahbad Bank :
Reserve Bank of India has imposed penalty of Rs.50 lakh on bank.
Negative for the stock. 👎

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Edited by Sharp.

2nd July, 2019 Morning Brief

Market will open on a positive note today.

Stocks were mixed in Asia Today, as enthusiasm over the U.S.-China trade truce proved short-lived amid a disappointing set of economic data.

U.S. stocks rallied to all-time highs after a trade truce with China, though finished well off highs of the day as measures of manufacturing activity showed growth slowing in the world’s largest economy.

On the macro front, eight core sector industries recorded a growth of 5.1 % in May on the back of healthy output in steel and electricity. The eight core sector industries - coal, crude oil, natural gas, refinery products, fertiliser, steel, cement, and electricity - grew by 4.1 % in May last year.

Nifty has formed a small bullish candle on the daily chart yesterday. 11960 can be considered as a crucial resistance in this week of expectations from the budget.

🎯 News & Impact 🎯

June Auto Sales (YoY) :

🎯 Tata Motors :
Down 14 % to 49,073 units. Commercial vehicles sales down 7 % to 35,722 units. Passenger vehicles sales down 27 % to 13,351 units.

🎯 Hero MotoCorp :
Total sales down 12 % at 6.16 lakh units.

🎯 Eicher Motors :
Total sales down 22 % to 58,339 units.

🎯 TVS Motor :
Total sales down 5 % at 2.97 lakh units. Exports up 6 % to 69,900 units.

🎯 SML Isuzu :
Total sales down 22.4 % to 1,214 units.

🎯 Sadbhav Infrastructure Projects :
Board approved the sale of entire stake in 9 SPV comprising of seven toll road infra assets, two annuity infra assets to lndlnfravit Trust at deal valued at  Rs 6,611.2 crore.

🎯 Cox & Kings :
defaulted a payment of Rs 50 crore of Commercial Papers.

🎯 Mangalore Refinery and Petrochemicals :
Company said that the water supply resumed in stages from June 6 onwards and refinery units have been restarted.

🎯 Prakash Industries :
Company received a grant of surface right permission to open iron ore mine in Odisha. 

🎯 IL&FS Transportation Networks :
Company defaulted in payments to investors aggregating to Rs.24.4 crore.

🎯 Cochin Shipyard, Garden Reach Shipbuilders & Engineers :
Government of India issued tenders for Rs.15,000 crore on warship building.

🎯 Nitin Spinners :
Company said that commercial production on spinning and weaving units in Rajasthan have commenced operations and erection of processing unit is in progress as per schedule.

🎯 Rallis India :
Company received a letter on June 29 from Gujarat Pollution Control Board directing the company to suspend one of its operation in Dahej following safety incident at an effluent treatment plant,

🎯 MOIL :
Company increased the price of Silico Manganese Grade by 5 %. 

🎯 HCL Technologies :
Company has completed the acquisition of select IBM products with effect from June 30.

🎯 Sobha :
L&T Mutual Fund increased its stake in the company to 5.08 %.

🎯 Gujarat Industries Power :
Company has issued Letter of Intent to Tata Power Solar Systems for EPC projects.

🎯 Indo Amines :
Board approved acquiring 60 % stake in Ashok Surfactants.

🎯 Shree Rama Newsprint :
Company commissioned and commenced the commercial production from its packaged water bottling plant.

🎯 Coal India :
Coal production in June rose 0.5 % to 45.08 million tonne. 

🎯 Sun Pharma :
Company promoter Shanghvi Finance created pledge of 68.5 lakh shares on June 24.

🎯 Coffee Day Enterprises :
Company promoter VG Siddhartha created pledge of 29.27 lakh shares on June 25.

🎯 Emami :
Company promoters released pledge of 96.73 lakh shares on June 28.

🎯 Surya Roshni :
Company promoters created pledge of 42 lakh shares and revoked pledge of 35 lakh shares from June 26-28.

🎯 Adani Ports & SEZ :
Company promoter Gautam Adani created pledge of 4.4 lakh shares on June 24.

🎯 Hubtown :
Company promoter Hemant Shah revoked pledge of three lakh shares on June 28.

🎯 Adani Enterprises :
Company promoter Gautam Adani created pledge of 6.3 lakh shares on June 24.

🎯 Adani Transmission :
Company promoters created pledge of 4.7 crore shares from June 24-27.
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Edited by Sharp.