29th August, 2019 Morning Brief

Market will open on a negative note today after a roller coster session on yesterday.

Asian stocks were off to a muted start Thursday as investors awaited the next steps in the U.S. and China trade negotiations.

Oil maintained gains after a bigger-than-expected drop in American crude inventories and as Iran all but ruled out a U.S. meeting.

🎯 News & Impact 🎯

🎯 Nestle & Indiabulls Housing Finance to be excluded from Nifty 50 Index with effect from Sept. 27. Stock will be replaced by Nestle India. 
Positive for Nestle. 👍

🎯 Coal India & Steel Sector :
100% FDI allowed in Coal Mining.
Positive for the stock & steel companies.

🎯 Sugar Stocks :
Cabinet approved export subsidy for exporting 60 lakh metric tonne of sugar. Sugar export subsidy will go directly to farmer accounts.
Positive for the stocks. 👍

🎯 L&T Finance :
IIFL Wealth Group to acquire L&T Finance Holdings’ wealth management business for Rs 230 crore. Group entered into a definitive agreement to acquire 100 % stake in L&T Finance Holding’s wholly owned arm L&T Capital Markets.

🎯 Sun Pharmaceutical Industries :
Company has initiated clinical development of new indications for its psoriasis drug Ilumya which will require front-ended investments, Chairman Israel Makov said at shareholders’ meeting in Vadodara. 

🎯 Balaji Amines :
Company arm has completed the EU REACH Registration process for Ethylenediamine. Registration will allow the company to supply the Ethylenediamine to large number of European customers.

🎯 Mahindra CIE Automotive :
Acacia Banyan Partners increased in their stake n the company from 4.75 percent to 5.01 percent on Aug. 21.

🎯 Kingfa Science & Technology :
To start commercial production in its new manufacturing facility in Pune from Sept. 2.

🎯 Spring Fields Infraventures :
Company received purchase order worth Rs 1.93 crore from G Narayanamma Institute of Technology & Science, G Pulla Reddy Degree and PG College, and G Pulla Reddy Engineering College.

🎯 JMC Projects :
The holding company Kalpataru Power has received a notice from the World Bank alleging process violations in bids submitted by its transmission business on two projects in Africa more than 7 years ago.

🎯 Infosys :
Company strengthened collaboration with Microsoft to offer new solutions for clients to accelerate digital transformation.

🎯 Mas Financial :
Finance committee decided to invest the funds upto Rs 6 crore in MAS Rural Housing & Mortgage Finance

🎯 Bharti Airtel :
Airtel Africa crosses 100 million subscribers base.
Positive for the stock. 👍

🎯 Jindal Stainless :
Company promoter Ratan Jindal acquired 1.52 lakh shares from Aug. 23-26.

🎯 Jagran Prakashan :
Company promoter groups acquired 84,000 shares on Aug. 26.

🎯 IDFC First Bank :
Company promoter IDFC Financial acquired 1.15 lakh shares on Aug. 26.
Positive for the stock. 👍
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Edited by Sharp.