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.