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.