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.