26th August, 2019 Morning

Market will open on a higher note as a result of positive announcements by FM.

Asian stocks and U.S. equity futures fell while the yen and Treasuries climbed after the latest escalation in the Sino-American trade war.

S&P 500 contracts were down around 1% after sliding Friday when President Donald Trump announced additional levies on Chinese imports and called for American companies to pull out of Asia’s largest economy after China said it would impose retaliatory tariffs on U.S. goods.

Government trying to shun the recent public impression that it is disregarding economic growth. Announcements will serve well to boost sentiment. Expectations of more measures will likely drive a short-term bounce. Believe that durable pick-up may have to wait until earnings recover. Corporate banks, housing finance companies, vehicle financiers and autos are the key beneficiaries of the measures unveiled. Government offers a soothing balm to markets; FPI outflows to get arrested. However global slowdown and it's impact on our market will be still questioned. Positive for PSU banks, Auto and Housing sector.

Nifty formed a perfect Bullish piercing candle on the daily chart on Friday. The recent reform measures introduced by the govt could result in a kneejerk reaction. However, the gains might be capped, as the US President Donald Trump escalated the trade war as he announced a wave of higher tariffs on Chinese goods & services.
Nifty50 has a support at 10600 and 11700-11800 will be the strong resistance zone on a broader view.

🎯 News & Impact 🎯

🎯 PSU Banks :
Front-ended infusion of Rs 70,000 crore should be positive for Bank of Baroda, PNB and Union Bank.

🎯 Alkem Laboratories :
Company received four Form-483 observations from U.S.FDA at manufacturing facilities in U.S. and zero form 483 observations for Baddi facility in India.

🎯 Natco Pharma :
Company increased its stake in OMRV Hospitals from 9.29 percent to 12.81 percent and 6.25 percent stake in U.S.-based AACT Inc.

🎯 Future Consumer :
Company completed acquisition of the balance 10 percent stake in Future Consumer Products. 

🎯 Ipca Laboratories: U.S. FDA conducted an inspection of its formulations manufacturing unit in Silvassa and issued three observations.

🎯 DHFL :
Company defaulted on payment of NCDs interest and bond interest worth Rs 11.17 crore and Rs 51.06 crore, which were due on Aug. 22 and Aug. 23, respectively.

🎯 Ineos Styrolution: Promoters sets floor price of Rs 419 per share for de-listing the company’s 44 lakh shares, representing 25 percent equity stake in the company. 

🎯 International Paper APPM :
CCI approved acquisition of shares on International Paper APPM by West Coast Paper Mills.

🎯 Apollo Hospitals :
CCI approved acquisition of 51.2 percent stake of Apollo Munich by HDFC and the subsequent merger of Apollo Munich into HDFC Ergo.

🎯 Gail :
launched supply of CNG, domestic PNG and CNG-run vehicles in Ranchi.

🎯 Essel Propack :
Ashok Goel reduced his stake from 56.65 percent to 7.67 percent via off-market sale on Aug. 22.

🎯 Cupid :
Company received orders worth Rs 5 crore from UNFPA.

🎯 Videocon Industries :
NCLT has approved for the consolidation of the CIRP of 13 Videocon Group Entities.

🎯 Puravankara :
Company forays into co-living space; to develop first project in Mumbai.

🎯 Glenmark :
Company recalls products from US market.

🎯 NHPC :
Company likely to begin construction of 2 GW Lower Subansiri hydro plant in October.

🎯 NCL Industries :
Company signed an agreement to establish a joint venture company with Qingdao Xinguangzheng Steel Structure Company China

🎯 Jagran Prakashan :
Company promoter group Shailendra Mohan Gupta acquired 48,000 shares from Aug. 21-22

🎯 Hubtown :
Company promoter group acquired 1 lakh shares from Aug. 21-22.

🎯 Camlin Fine Sciences :
Company promoter and director Anagha Dandekar acquired 57,000 shares on Aug. 23.
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Edited by Sharp.