26th September, 2019 Morning Brief

Market will open on a positive note today.

Stocks in Asia pushed higher Thursday as signs of easing trade tensions overshadowed impeachment inquiry proceedings in Washington.

The S&P 500 halted a three-day slide, with technology and bank shares pacing the gain, after President Donald Trump suggested a trade deal with China was possible and touted a pact with Japan.

The impeachment inquiry into the US President Donald Trump, tension in the Middle East and uncertainty over the US-China trade deal kept the market under pressure and signal of an Asia wide slowdown from the Asian Development Bank weighed on the domestic equity market on Wednesday.

Nifty closed well below 11,500 level and formed bearish belt hold pattern on daily charts. 11350 can be considered a good support to dare to enter into the bullish stream who have missed the recent rally.

🎯 News & Impact 🎯

🎯 Sterlite Technologies :
Company said its Mauritius-based arm has signed a pact to acquire entire stake in the U.K.-based Impact Data Solutions at an enterprise value of around Rs.105 crore.

🎯 GlaxoSmithKline Pharmaceuticals :
Company announced recall of ranitidine hydrochloride tablets produced in India using Active Pharmaceutical Ingredient sourced from Saraca Laboratories Ltd. following detection of genotoxic nitrosamine NDMA by authorities. The company has also decided to suspend release, distribution and supply of all dose forms of ranitidine hydrochloride products to all markets, including India, as a precautionary action pending the outcome of ongoing tests and investigations.

🎯 SRF :
Company said that Supreme Court has dismissed the company’s petition against High court order to pay stamp duty and penalty of Rs.28.82 crore. 

🎯 Cipla :
Company has launched generic daptomycin drug in U.S. markets.

🎯 NTPC :
Company signed accords to build 540MW Hydro Projects in Himachal Pradesh.

🎯 AstraZeneca Pharma :
Company received import and market permission in Form 45 from DGCA for diabetes drug.

🎯 Adani Enterprises :
The company has incorporated Adani Mangalore International Airport.

🎯 NLC :
Company India successfully completed remaining 351 MW of Solar Power Projects in the State of Tamilnadu.

🎯 Indiabulls Real Estate :
Company has divested its remaining stake in existing JV Cos.

🎯 DIL :
NCLT approves scheme of amalgamation of Fermenta Biotech with company.

🎯 Vakrangee :
Company promoter and director Dinesh Nandwana acquired 10 lakh shares on Sept. 25.
Positive for the stock. 👍

🎯 Kalpataru Power Transmission : Company promoters sold 69 lakh shares on Sept. 11.

🎯 Sun Pharma :
Company promoter Shanghvi Finance acquired 5 lakh shares on Sept. 25.
Positive for the stock. 👍

🎯 Filtex India :
Company promoter Shefali Bhageria acquired 2 lakh shares on Sept. 23.
Positive for the stock. 👍

🎯 Varun Beverages :
Company promoters RJ Corp and Ravi Kant Jaipuria & Sons (HUF) sold 40 lakh shares on Sept. 25.
Negative for the stock. 👎
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Edited by Sharp.