9th August, 2019 Morning Brief

Market will open on a flat note today after a bounce-back as a potential rollback of surcharge on the super-rich and a delay in vehicle registration fees by a year.

Asian shares pushed higher Friday as positive sentiment from a strong session on Wall Street outweighed a resurfacing of trade tensions.

The White House is holding off on a decision about licenses for U.S. companies to restart business with Huawei Technologies Co. after Beijing said it was halting purchases of U.S. farming goods. Earlier, the S&P 500 gained almost 2% as investors took solace from efforts to stabilize the yuan.

Nifty forms a strong bullish candle on daily charts. Nifty gave an upmove respecting 10800 level to regain the 11k mark and may travel more upto 11300 level.

🎯 News & Impact 🎯

Major Results Today :

BPCL, Britannia, GAIL, Hindalco

Results Updates :

🎯 Mahanagar Gas (Q1, YoY) :
Revenue rose 22.3 % to Rs. 757.5 crore. Net profit rose 32.7 % to Rs.170.2 crore. Ebitda rose 31.2 % to Rs.276.9 crore. Margin stood at 36.6% versus 34.1%.

🎯 Tata Chemicals (Q1, YoY) :
Revenue rose 5.6 % to Rs.2,896.9 crore. Net profit rose 16.4 % to Rs.239.7 crore.

🎯 EIL Q1:
Profit jumps to Rs.125.7 crore versus Rs. 89.5 crore,
Revenue climbs to Rs.742.66 crore versus Rs. 582.8 crore YoY.

🎯 Nalco :
Company signed a joint venture agreement with Mishra Dhatu Nigam for setting up of high end aluminium alloys plant for manufacturing of Plates, Sheets, etc.

🎯 Endurance Technologies :
Company withdraws plans to enter two-wheeler tyre business.

🎯 Bodal Chemicals :
Company acquired 80 % stake in Sen-er for $4.5 million.

🎯 DHFL :
Company may not be able to meet repayments coming up in the immediate future.
Negative for the stock.

🎯 Cochin Shipyard :
Company launched two Ro Pax Vessels for Inland Waterways Authority of India.

🎯 Marico :
Company increased its stake in Revofit from 23 percent to 37 percent.

🎯 Amara Raja Batteries :
Company promoter RN Galla family increased their stake from 26.06 percent to 28.06 percent.

🎯 Suzlon Energy :
Company is said to propose $1.2 billion deal to settle stressed debt, 

🎯 IL&FS Investment Managers :
Company arm’s offshore investors of Realty Fund would not be extending their agreement with effect from Aug. 9

🎯 Marico :
Company will further invest in Revolutionary Fitness Private Limited and will increase stake in same to 37 %.

🎯 Wipro :
Company partners with Camunda to offer workflow automation platform.
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Edited by Sharp.