12th September, 2019 Morning Brief

Market will open on a positive note today.

U.S. equity futures rose along with Asian stocks and the yuan after President Donald Trump said he will delay the next tariff increase on China by about two weeks.

Market will trade cautiously as India Aug. Consumer Price Inflation (prior 3.15 % YoY) and India July Industrial Production (prior 2.0 % YoY) to be announced after market hours.

🎯 News & Impact 🎯

🎯 SBI Life Insurance :
SBI’s board has approved an offer-for-sale of at least 3.5 % stake—or 3.5 crore shares—in SBI Life Insurance Company Ltd., with an option of oversubscription of 1 percent. The floor price for the sale has been set at Rs. 770 per share.

🎯 Dr. Reddy's Lab :
The company announced the launch of Fosaprepitant for Injection in the US market, approved by the US Food and Drug Administration (USFDA).

🎯 Alkem Laboratories :
Company received four Form 483 observations from the U.S. Food and Drug Administration for its manufacturing facility in St.Louis, U.S.

🎯 Apollo Hospitals :
Company founder Sunitha Reddy to sell 50 lakh shares up to Rs.725 crore.
Negative for the stock. 👎

🎯 MSTC :
Adani Group has appointed the company as selling agent to sell all surplus inventory and equipment for the entire Group.

🎯 Reliance Capital :
Company to exercise the over-subscription option 3.15 percent stake sale, in addition to the base sale of 3.15 percent of equity shares, aggregating to 6.3 percent of Reliance Nippon Life Asset Management.

🎯 Walchand Nagar :
Company Industries has entered into an agreement with Indian Space Research Organisation to supply equipment for GSLV Launch Vehicle for a contract value of Rs.77.2 crore.

🎯 Kridhan Infra :
Company’s arm secured infra orders worth Rs.112 crore for Bengaluru International Airport.

🎯 OnMobile Global :
Company said that it has dissolved its Romanian unit with effect from Sept. 4.

🎯 Arvind :
Company promoter Aura Business acquired 4.2 lakh shares on Sept. 6.
Positive for the stock. 👍

🎯 Panama Petrochem :
Company promoter group Ittefaq Ice & Cold Storage acquired 47,000 shares on Sept. 9.
Positive for the stock. 👍

🎯 KEC International :
Company promoter RPG Venture acquired 69,000 shares on Sept. 9.
Positive for the stock. 👍

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Edited by Sharp.