5th July, 2019 Morning Brief

Market will open on a flat note today and may remain volatile ahead of expectations and announcements from the Budget.

Asian stocks traded mixed Thursday after holiday closures for U.S. equity and bond markets meant there were few leads overnight for traders.

All eyes will be on Nirmala Sitharaman's first budget speech as the finance minister. Looking at the key aspects from the Survey market participants eye key policy measures in sectors which support the economy such as agri, rural consumption, automobiles, banking, NBFCs, etc.

Nifty formed a bullish candle on the daily charts for the 4th straight session of gains. I repeat again that Nifty should sustain and close above 11960 to head towards it's historical high.

🎯 News & Impact 🎯

🎯 Biocon :
Company’s sterile drug product facility received EU GMP certification.

🎯 Yes Bank :
Bank received SEBI approval to launch mutual fund business.

🎯 Seamec :
Company, in consortium with Kreuz Subsea, enters into $22 million deal with ONGC for charter hire of vessel.

🎯 L&T Finance Holdings :
Company will receive $550 million in an ECB investment round anchored by IFC, a member of the World Bank Group, and BNP Paribas, Citibank, and DBS Bank Limited.

🎯 Commercial Syn Bags :
Company received letter of intent from Madhya Pradesh Industrial Development Corporation (MPIDC), for allotment of leasehold land admeasuring 40000 square metre in Industrial Area Pithampur- 6 District Dhar (M.P.) for new project.

🎯 GMR Infra :
Group sold entire stake of 47.62 % in GMR Chhattisgarh Energy to Adani Power.

🎯 Som Distilleries & Breweries : Company proposed arm acquires brewery in Odisha for Rs.46 crore.

🎯 Intellect Design Arena :
Company in pact with Banco Santander for implementation of its digital transaction banking platform.

🎯 FIEM Industries :
Company partnered with Toyodeso, Japan and Toyota Tsusho, Japan for manufacturing of bank angle sensor for motorcycles in the Indian market.

🎯 Future Lifestyle :
Company to acquire up to 29.9 % in Koovs for Rs.140 crore.

🎯 Eveready Industries :
Company acquired 9.47 % stake in company.
Positive for the stock. 👍

🎯 Nath Bio Genes (India) :
Company promoters released pledge on shares held by ARCIL after clearing all outstanding loans.
Positive for the stock. 👍

🎯 DCM Shriram :
Company promoters acquired 2.61 lakh shares from July 2–3.
Positive for the stock. 👍

🎯 Menon Bearings :
Company promoters acquired 27,000 shares from June 21–29.
Positive for the stock. 👍

🎯 Infibeam Corporation :
Company promoters acquired 6.56 lakh shares from July 2–3.
Positive for the stock. 👍

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Edited by Sharp.