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.