21st August, 2019 Morning Brief

Market will open on a flat note today after witnessing a volatile session on yesterday.

Stocks in Asia declined on low volumes as investors assessed the latest news on trade talks and awaited more clues on U.S. monetary policy.

The S&P 500 Index closed lower as U.S. President Donald Trump showed no urgency to resolve trade friction with China and renewed his call for a “big” Federal Reserve rate cut.

🎯 News & Impact 🎯

🎯 Alembic Pharma :
Company received zero Form 483 observations by the U.S.FDA at the end of the inspection of company’s Bioequivalence facility in Vadodra.
Positive for the stock. 👍

🎯 Dr. Reddy’s Laboratories :
Company received eight Form 483 observations by U.S. FDA in the audit of formulations manufacturing plant at Duvvada, Vishakapatnam.

🎯 Sun Pharma Advanced Research : Complaint has been filed by Abraxis Biosciences in the U.S. Court which alleges the company’s filing of new drug application for Taclantis injection as an act of infringement of the Orange Book listed patents for Abraxane.

🎯 NMDC :
Karnataka government withdrew approval to extend mining lease for Donimalai and will auction the block.
Negative for the stock.

🎯 Mahindra Logistics :
Company to manage Volkswagen India’s parts distribution.

🎯 Essel Propack :
Blackstone Group has launched into syndication a five-year term facility backing the purchase of a 75 % stake. 
Positive for the stock. 👍

🎯 KRBL :
Company obtained trademark registration of its Flagship Brand ‘India Gate’ on Aug. 12, with user claim since January 1979.

🎯 Tourism Finance Corporation : Shapoorji Pallonji Finance reduced stake in the company from 6.61 % to 4.41 % via release of pledge.

🎯 SpiceJet :
Company to shift its entire operations in Mumbai to Terminal 2 from Oct. 1.

🎯 Dabur :
Company to contribute $16 million as share capital in its wholly owned arm Dermoviva Skin Essentials.

🎯 Zensar Technologies :
Company partnered with Aptos, a retail technology solutions provider, to deliver next-gen retail innovation.

🎯 Reliance Capital :
Jupiter Asset Management sold 4.65 % stake in the company on Aug. 16.

🎯 IOL Chemicals and Pharma :
Company stated that they have made pre-payment of term loan of Rs.9.52 crore due to banks in addition to scheduled pre-payment. 

🎯 HDIL :
Company has been admitted under Insolvency and Bankruptcy Code as per National Company Law Appellate Tribunal order.

🎯 BEML :
L&T Mutual Fund increased its stake in the company from 4.97-5.11 percent.

🎯 Jai Prakash Associates :
Company stated that the Competition Commission of India had imposed a penalty of Rs.13.82 crore during financial years 2010-2012.

🎯 Hind Oil Exploration :
Fidelity Funds acquired 6.68 lakh shares (0.51 %) at Rs.102.5 each.
Positive for the stock. 👍

🎯 Deepak Nitrite :
Company promoter & director Deepak Mehta acquired 36,000 shares on Aug. 14.
Positive for the stock. 👍

🎯 Jindal Stainless :
Company promoter Ratan Jindal acquired 1.4 lakh shares from Aug. 14-16.
Positive for the stock. 👍

🎯 NIIT Technologies :
Company promoter Hulst BV acquired 1.59 lakh shares on Aug. 9.
Positive for the stock. 👍

🎯 Lakshmi Vilas Bank :
Company promoter KR Pradeep acquired 1.1 lakh shares on Aug. 19.
Positive for the stock. 👍

🎯 Spencer’s Retail :
Company promoter group Castor Investments acquired 1 lakh shares on Aug. 19.
Positive for the stock. 👍

🎯 United Spirits :
Diageo PLC acquired further 33 lakh shares in company at Rs 591.95 per share.
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Edited by Sharp.