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.