8th August, 2019 Morning Brief

Market will open on a flat note today after a volatile session witnessed yesterday.

Asian stocks traded mixed as investors assessed the implications of the latest central bank moves to bolster growth. Shares rose across most of Asia after China fixed its daily onshore currency rate at weaker than 7 for the first time since 2008.

The RBI's rate cut and dovish stance indicate an unambiguous focus on growth and a high priority for boosting consumption.

Nifty formed a bearish Harami type pattern on the daily candlestick chart which shows an uncertainty in the market. 10780 can be considered as a temporary support for Nifty and any closing below it may leads to reach 10600 zone.

Major Result Today : UltraTech Cement

🎯 News & Impact 🎯

Results Updates :

🎯 Tata Steel (Q1, YoY) :
Revenue rose 1.3 % to Rs 35,947.1 crore.
Net profit fell 64.3 percent to Rs.693.1 crore. 

🎯 HCL Tech (Q1, QoQ) :
Dollar revenue rose 3.8 % to $2,364 million.
Revenue rose 2.7 % to Rs.16,427 crore.  Net profit fell 12.5 % to Rs.2,230 crore. 

🎯 HPCL (Q1, QoQ) :
Revenue rose 4.5 % to Rs. 70,988.9 crore. Net profit fell 72.7 % to Rs.811 crore.

🎯 Petronet LNG (Q1, QoQ) :
Revenue rose 2.7 % to Rs.86,13.4 crore. Net profit rose 27.3 % to Rs.560.3 crore.

🎯 Aurobindo Pharma (Q1, YoY) :
Revenue rose 28.1 % to Rs. 5,444.6 crore. Net profit rose 39.5 % to Rs.635.8 crore.

🎯 Siemens India (Q3 FY19 Standalone, YoY) (Year End-September) :
Revenue rose 4.1 % to Rs.3,198.4 crore. Net profit rose 21.4 % to Rs.248.1 crore.

🎯 Oracle Financial Software Services (Q1, QoQ) :
Revenue rose 4.9 % to Rs.1,275 crore.
Net profit rose 15.8 % to Rs.377.4 crore.

🎯 Phoenix Mills (Q1, YoY) :
Revenue rose 48.6 % to Rs. 614 crore.
Net profit rose 2.2 times to Rs.130.4 crore. 

🎯 Adani Power (Q1, YoY) :
Revenue up 108 percent to Rs.7,805 crore.
Net loss of Rs.263 crore vs net loss of Rs. 825 crore.
Positive for the stock. 👍

🎯 Reliance Industries :
Tiffany & Co. and Reliance Brands Ltd. announced plans to enter the India market through a joint venture.

🎯 Wipro :
Company awarded five-year strategic IT Contract by ADM Aeroports de Montreal.

🎯 Tata Steel :
Company executed memorandum of understanding to sell 70 % of its stake in its Thailand arm to Synergy Metals and Mining Fund.

🎯 Bank of Baroda :
South African Reserve Bank, Prudential Authority, cuts financial penalty from 11 million rand to 400, 000 rand for the Bank’s South African arm.

🎯 Dilip Buildcon :
Promoters plan to sell 0.63 % of total equity or 8.64 lakh shares in the open market to comply with minimum public shareholding norms.

🎯 Phoenix Mills :
Board approved amalgamation of hospitality arm with the company.

🎯 NBCC :
Company has secured total business of Rs.201.77 crore for the months of June and July.

🎯 Gujarat Alkalies and Chemicals :
Company stated that operations of Phosphoric Acid Plant at Dahej Complex has been restored.

🎯 Tata Communications :
Ministry of Corporate Affairs approved the scheme of arrangement between Hemisphere Properties India and Tata Communication regarding transfer of land for shares.

🎯 Sambhaav Media :
Subsidiary VED Technoserve India Private Limited received work order.

🎯 Rolta India :
Streamcast Group will assist Rolta India in repayment and restructuring its liabilities commencing with immediate effect.

🎯 NBCC :
Company secured the total business of Rs 201.77 crore in the month of June & July, 2019.
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Edited by Sharp.