13th September, 2019 Morning Brief

Market will open on a flat note after yesterday's negative closing.

The S&P 500 rose to just under its all-time high after a report that American officials have discussed offering a limited trade agreement to China.

Asia stocks saw modest gains Friday at the end of a week in which trade optimism continued to grow and the European Central Bank introduced a fresh round of stimulus.

Data released by the statistics ministry on Thursday showed the index of industrial production (IIP) grew 4.3% in July from a downward-revised 1.2% a month ago, while retail inflation quickened to 3.21% in August from 3.15% in the previous month.

🎯 News & Impact 🎯

🎯 Ajanta Pharma :
Company gets tentative US FDA nod for Dapagliflozin.
Positive for the stock. 👍

🎯 Power Grid Corporation :
Company was declared successful bidder for two transmission projects in Madhya Pradesh and Rajasthan.

🎯 Zee Entertainment :
Company promoter Cyquator Media Services decreased its stake in the company from 21.15 % to 12.14 % and promoter Essel Corporate LLP’S stake fell from 3.28 percent to 1.48 percent.

🎯 Biocon :
Company licensed three Generic Formulations Products to China Medical System Holdings.

🎯 Dr. Reddy’s Laboratories :
Company received EIR from the U.S.FDA indicating closure of audit for its Vizag’s formulations plant.
Positive for the stock. 👍

🎯 Infibeam Avenues to separate its SME e-commerce services unit to Suvidha Infoserve, with Suvidhaa issuing 197 shares for every 1,500 shares. Company’s unit NSI Infinium Global will also separate its e-commerce business unit. Company’s Themepark & Event Software undertaking will be demerged to its own subsidiary DRC Systems.

🎯 Gravita :
Company’s Ghana arm has increased its capacity of its existing Lead Recycling Plant from 60,000 MTPA to 12,000 MTPA.

🎯 Sintex Industries :
Company defaulted payment of NCDs interest amounting to Rs 3.03 crore which was due on Sept. 11.

🎯 Bharat Road Networks :
SEBI revoked its order, stating that now the company can dispose its assets or divert funds without prior permission of SEBI.
Positive for the stock. 👍

🎯 ICICI Bank :
SEBI imposed a penalty of Rs 10 lakh on the Bank and Rs 2 Lakh Penalty from Bank’s ED Sandeep Batra regarding disclosure norms regarding agreement signed between dominant shareholders of the Bank and Bank of Rajasthan.

🎯 PI Industries :
Company to buy entire stake in Isagro Asia for Rs 345 crore.

🎯 Kalpataru Transmission :
HDFC AMC increased its stake from 7.4 % to 9.6 % in the company.
Positive for the stock. 👍

🎯 Virinchi :
Company awarded Aadhar Project for Rs. 20 crore from Telengana government.
Positive for the stock. 👍

🎯 Tata Power :
Company promoter Tata Sons acquired 1.6 crore shares from Sept. 5-11.

🎯 Elpro International :
Company promoter International Conveyors acquired 1.9 lakh shares on Sept. 9

🎯 Adani Ports :
Lien on 74 lakh promoter shares released on September 6 & 7.

🎯 Adani Transmission :
Lien on 2.96 % promoter stake released on September 6,7 & 11.
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Edited by Sharp.