30th August, 2019 Morning Brief

Market will open on a negative note today.

Stocks in Asia tracked a U.S. rally after China indicated it wouldn’t immediately retaliate against the latest American tariff increase.

US markets rose for a second day after a spokesman for China’s commerce ministry said that escalating the conflict won’t benefit either side and that it was more important to discuss removing the extra duties.

Market awaits for the data to be announced today on Fiscal deficit for July, Eight Infrastructure Industries Index for July and GDP for quarter-ended June; estimated 5.7 % (prior 5.8 %).

Nifty has made a bearish candle on the daily chart on yesterday. Nifty50 has a strong resistance zone at 11150 to 11180 zone.

🎯 News & Impact 🎯

🎯 Hindalco :
European Union Regulators to approve $2.6 billion Novelis Aleris deal.

🎯 GRUH Finance :
HDFC to sell 9.2 % stake or 6.74 crore shares in company via block deals.

🎯 Adani Green Energy :
Company signed definitive agreement to acquire 10 renewable power-based companies which are valued at enterprise value of Rs.1,300 crore from Essel Group.

🎯 PNC Infratech :
Company declared lowest bidder for NHAI’s EPC project in Lucknow for a quoted price of Rs.1,062 crore.

🎯 MSTC :
Bharti Airtel has appointed the company as selling agent for disposables of articles through the company’s auction website.

🎯 HDFC Bank :
Bank to split its face value and paid value from Rs 2 to Re 1, per share with effect from Sept. 19. To sell entire stake in India GST Network for Rs 1 crore

🎯 Max Financial Services :
Company to invest Rs.10 crore in rural housing and mortgage arm.

🎯 Apollo Pipes :
Promoter Sanjay Gupta acquired 6.3 lakh shares (4.8 %) at Rs.333.1 each.

🎯 SW Steel :
Company promoters created pledge of 1.1 crore shares from Aug. 20-27.

🎯 JSW Energy :
Company promoter JSW Investments created pledge of 1.5 crore shares on Aug. 27.

🎯 Steel Strips Wheels :
Company promoter group SAB industries released pledge of 4 lakh shares on Aug. 26.

🎯 Emami :
Company promoter groups created pledge of 37.5 lakh shares from Aug. 26-27.

🎯 Adani Ports & SEZ :
Company promoter group Gautam Adani created pledge of 4 lakh shares on Aug. 27.

🎯 Orient Cement :
Company promoter Shekhavati Investments and Traders created pledge of 23 lakh shares on Aug. 27.

🎯 Orient Electric :
Company promoter Shekhavati Investments and Traders created pledge of 3.8 lakh shares on Aug. 27.

🎯 Glenmark Pharmaceuticals :
Company receives ANDA approval for Pimecrolimus Cream, 1%

🎯 Wipro :
Company and Google Cloud expand partnership to accelerate digital transformation for enterprises.

🎯 Premier Explosives :
Company received the license from Chief Controller of Explosives, Nagpur for manufacture of Solid Propellant at factory situated at Katepally, near Hyderabad.
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Edited by Sharp.