19th July, 2019 Morning Brief

Market will open on a positive note today with global support after yesterday's fall.

Asia stocks tracked an advance in U.S. shares as New York Federal Reserve said its President, John Williams, wasn’t sending a specific policy signal for a rate cut.

US stocks moved higher on Thursday after a slow start as comments from New York Fed President John Williams helped cement expectations for an interest rate cut from the US central bank at the end of the month.

Bears regained control of D-Street after 3 straight sessions of gains on Thursday and pushed the Nifty50 index below 11600 while Sensex also gave up 39000 towards the close. Trade war concerns led to a fall in US markets on July 17 while muted results from India Inc were a dampener for domestic investors.

🎯 News & Impact 🎯

Major Results Today :

Reliance Industries

Results Updates :

🎯 L&T Infotech (Q1, Consolidated, QoQ) :
Dollar revenue up 0.8 % at $356.5 million.
Revenue flat at Rs.2485 crore.
Net profit down 6.1 % at Rs.355.8 crore.

🎯 ACC (Q2CY19 Standalone, YoY) :
Revenue up 7.8 % at Rs.4149.72 crore.
Net profit up 38.6 % at Rs 451.3 crore.
Ebitda up 25.3 % at Rs.781.68 crore.

🎯 Sterlite Technologies (Q1, Consolidated, YoY) :
Revenue up 63.3 % at Rs.1432 crore.
Net profit up 17.1 % at Rs.141.4 crore.
Ebitda up 32 % at Rs 323.4 crore.
Margin at 22.6 %.
Positive for the stock. 👍

🎯 Thermax :
Company secured orders worth Rs 471 crore from an Indian government power company to set up FGD systems in Jharkhand.

🎯 Reliance Nippon :
CCI has approved acquisition of up to 75 percent stake in Reliance Nippon Life Asset Management by Nippon Life Insurance Company.

🎯 Gufic Biosciences :
Company has received regulatory approval to manufacture bacteria which will be used in therapeutic and aesthetic procedures.

🎯 Vodafone Idea :
Company hired Bank of America and Morgan Stanley to help sell its fiber assets which could be valued at Rs 13,000 crore. 

🎯 NHPC :
Company stalled Subansiri Lower hydropower project has been revised to an estimated Rs 20,850 crore from the original cost of Rs 6,285 crore approved in 2003.

🎯 Cyient :
Board announced merger of Cyient DLM and Cyient Insights into the company.

🎯 Srei Infra :
SREI Infra and its arm Srei Equipment Finance have withdrawn amalgamation plans of both entities due to developing market conditions in NBFC sector.

🎯 Tata Motors :
Company incorporated wholly owned unit Brabo Robotics & Automation w.e.f July 17.
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Edited by Sharp