8th July, 2019 Morning Brief

Market will open on a flat note after a slide experienced in Friday after the budget announcement.

Stocks in Asia dipped at the start of the week after their U.S. counterparts retreated.

U.S. stocks fell from all-time highs, Treasuries tumbled and the dollar rallied after a strong jobs report clouded the Federal Reserve’s rate plans.

Nifty has kept respect of the level of 11960 and tumbled on the reaction of Budget speech outcome. Nifty has made a big bearish candle on the daily chart. It's interesting to see whether it holds the 11660 level or pierce upto 11420 level in coming days.

🎯 News & Impact 🎯

🎯 Siemens :
Company sold its lease hold interest in Gujarat for Rs 158.5 crore to LM Wind Power Bladed and further assignment to be sold worth Rs 35 crore is subject to receipt of approval from authorities.

🎯 HT Media, Hindustan Media Ventures : Price Waterhouse resigned as statutory auditors with effect from July 5.

🎯 Team Lease Services :
Company increased its stake by 26 percent to 76 percent in Cassius Technologies.

🎯 Unichem Laboratories :
Company incorporated its China arm under the name of Younikaimo Pharma for sale in China of formulations and API ingredients manufactured by the company.

🎯 Aster DM Healthcare :
Company incorporated Aster Clinical Lab for a proposed Rs 40 crore. Company to carry on the pathology business.

🎯 Quickheal Technologies :
Company granted U.S. patent for anti-ransomware technology.

🎯 Zuari Agro Chemicals :
Informs about the shutdown of Urea/ Ammonia plants due to tube leak of PG-Reboiler in the CO2 removal section of the plant.

🎯 The Indian Hume Pipe :
Government of Andhra Pradesh terminated two contracts worth Rs.701.7 crore related to construction of drinking water supply projects, owing to change in the policy of the Government. 

🎯 India Grid Trust :
Completed acquisition of two power transmissions assets from Sterlite Power for an enterprise value of Rs.5,025 crore. 

🎯 Mcleod Russel :
Company promoters invoked pledge of 76.2 lakh shares from June 10-26.

🎯 City Union Bank :
Bank is registered as a mutual fund distributor with BSE Star Mutual Fund platform for distribution and redemption of mutual fund units in India through web based platform.

🎯 BLS International Services :
Company which was hitherto operating the Premium Lounge and other services as per the contract with Sopra Steria Limited on behalf of the United Kingdom Visas & Immigration (UKVI) have transferred the operational delivery of these services to Sopra Steria Limited.

🎯 SunEdison Infrastructure :
Company approved the acquisition of Megamic Electronics Private Limited and Enrecover Energy Solutions Private Limited.

🎯 KPI Global :
Company signed Power Purchase Agreement (PPA) with B N Papers, Surat for sale of 1.10MW solar power for a period of 15 years under the category of Independent Power Producer (IPP).

🎯 Competent Automobiles Company : Company has concluded the sale of its immovable property situated at Dada Bari, Mehrauli, New Delhi for a total consideration of Rs 31 crore.

🎯 Kalpataru Power Transmission :
Company promoter group Kalpataru Properties revoked pledge of 10 lakh shares on July 3.

🎯 Max Financial Services :
Company promoter group Max Ventures Investment Holdings created pledge of 1 lakh shares on July 2.

🎯 Adani Ports & SEZ :
Company promoter group Gautam Adani created pledge of 2.6 crore shares on July 3.

🎯 Future Retail :
Company promoter Future Corporate Resources invoked pledge of 21.12 lakh shares on July 3.
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Edited by Sharp.