22nd August 2019, Morning Brief

Market will continue yesterday's slide at the opening time today.

Stocks in Asia drifted Thursday after minutes from the Federal Reserve’s latest meeting did little to alter expectations for more interest-rate cuts.

U.S. stocks pared gains as Federal Reserve minutes fell short of signaling the central bank was ready to cut rates sharply.

🎯 News & Impact 🎯

🎯 NTPC :
Government accepted company’s request for surrendering coal block in Odisha.

🎯 NMDC :
Company cut its lump ore and fine prices by Rs.200 per tonne. 

🎯 Kansai Nerolac Paints :
Enters a business transfer agreement with Polygel, Nerofix Promoters of Polygel. As per the arrangement, the adhesives, construction chemicals and sealants business of Polygel would be transferred to Nerofix as a going concern on slump sale basis upon payment of the proposed transfer consideration of Rs 20 crore by Nerofix.

🎯 LIC Housing Finance :
An undisclosed institutional shareholder of the company has sought to raise between $200-$211 million through an offering of about 3.37 crore shares.

🎯 MSTC :
Uttar Pradesh government has extended the agreement with for e-tendering cum e-auction of minor minerals blocks (sand and morrum) and insipu rocks blocks for another one year.

🎯 Future Enterprises :
Company clarified that post the investigation Directorate of Revenue Intelligence has issued show cause notice in the matter. 

🎯 HPCL :
Chief Financial Officer R Kesavan said that the company will fund Rs.32,000 crore of its capital expenditure plan via debt and the debt ratio is expected to be below 2:1 at the peak of capex.

🎯 Dilip Buildcon :
Board to consider the proposal of divestment of wholly owned arms to one or more potential investors on Aug. 26.

🎯 DHFL :
Company defaulted in payment of non-convertible debentures interest worth Rs 50 lakh, which was due on Aug. 20.

🎯 Infosys :
Company expanded its partnership with Google Cloud to become a Google Cloud Managed Service Provider.

🎯 Redington India :
ICICI Prudential Life Insurance decreased stake from 7.4 % to 5.3 % in the company.

🎯 V-Mart :
Company has opened three new stores in Nagaland, Jharkhand and Rajasthan.

🎯 Vodafone Idea :
Company promoter IGH Holdings acquired 20 lakh shares on Aug. 20.

🎯 Nava Bharat Ventures :
Company promoter Ashwin Devineni acquired 1 lakh shares from Aug. 14-20.

🎯 Aarti Drugs :
Company promoter Prakash Prakash Moreshwar Patil acquired 1 lakh shares from Aug. 16-19.

🎯 Jagran Prakashan :
Company promoters acquired 1.9 lakh shares from Aug. 19-20.

🎯 Lakshmi Vilas Bank :
Company promoter group Tangerine Capital Asset Holdings sold 1 lakh shares on Aug. 19.

🎯 Spencer’s Retail :
Company promoter group Castor Investments acquired 97.5k shares on Aug. 20.

🎯 Redington India :
ICICI Prudential Life sold 2.05 % stake in company on August 20.

🎯 Jai Corp :
Company decided to merge a wholly owned subsidiary, Jai Realty Ventures Limited with itself.

🎯 Biocon :
Company's Malaysia insulin glargine manufacturing facility receives EU GMP certification.

🎯 Urja Global :
Company has withdrawn agreement with Nippon Shinyaku Co. Ltd, Japan for supply of product i.e. Zacobite for the five years, to avoid any further misunderstanding between the stakeholders and the company.
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Edited by Sharp.