6th August, 2019 Morning Brief

Market will start with a gap-down amid global weakness.

U.S. stocks clocked their biggest drop of the year on Monday. Asian stocks plunged again today and American futures slumped after the U.S. slapped the currency-manipulator tag on China, further escalating the trade war between the world’s two largest economies.

Nifty formed a Hammer like pattern on the daily charts. 10792 will be the crucial level to observe going ahead of RBI monetary policy tomorrow. A bounce upto 11140 cannot be ruled out.

🎯 News & Impact 🎯

Major Results Today :

Indiabulls Housing Finance, Titan

Results Updates :

🎯 KEI Industries (Q1, YoY) :
Revenue rose 22.3 % to Rs.1,081.4 crore. Net profit was up 42.3 % to Rs.45.8 crore. 

🎯 Torrent Power (Q1, YoY) :
Revenue rose 5.9 % to Rs 3,736.1 crore. Net profit was up 21.9 % to Rs.275.3 crore.

🎯 Bank of Baroda :
Bank reduced MCLR rates by 15 basis points across various tenors with effect from Aug. 7.

🎯 SRF :
Board approved setting of an integrated facility for development of PTFE at an estimated cost of Rs. 424 crore, which will add 5,000 MTPA of capacity addition.

🎯 Cox & Kings :
Company defaulted on payment of commercial papers worth Rs 5 crore which was due on Aug. 5.

🎯 Wabco :
Company to close operations in five of its plants for three-17 days in August in view of weak demand and customer schedules.

🎯 Music Broadcast :
Company acquired commercial rights to sell advertising space at Lucknow metro stations and play curated content for three years.

🎯 IL&FS Transportation Networks :
Company defaulted on non-convertible debentures interest payment worth Rs 14.7 crore which was due on Aug. 5.

🎯 Tata Power :
Company’s arm commissioned 70 KW solar roof top installation at Delhi’s India International Centre.

🎯 HCL Tech :
Company and Oracle Health Services to collaborate to life science companies for generation of digital clinical trials.

🎯 Minda Corporation :
The National Company Law Tribunal approved amalgamation of five domestic arms with self.

🎯 Wipro :
Company ’s arm opened a new strategic design studio in Sydney.

🎯 Vaibhav Global :
Company promoter and director Nirmal Bardiya sold 2.25 lakh shares on Aug. 2.

🎯 DQ Entertainment (International): Company's latest kids animated TV Series 'The Psammy Show' made its way into Chinese market.

🎯 HSIL :
National Company Law Tribunal approved the scheme of arrangement between company, Somany Home Innovation Limited and Brilloca Limited.
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Edited by Sharp.