Tuesday, 3 September 2019

4th September, 2019 Morning Brief

Market will open on a positive note today after witnessing a huge sell-off yesterday.

Asian stocks opened lower on Wednesday after a disappointing U.S. manufacturing report reignited concern about global economic growth during an impasse in the trade war.

🎯 News & Impact 🎯

🎯 ICICI Lombard General Insurance : Insurance Regulatory and Development Authority of India has waived off the earlier imposed lock in period on the equity shares held by Fairfax.

🎯 Steel companies :
Steel companies in selling pressure after India Ratings and Research cut steel demand growth estimate to 4 % from 7 % for the current financial year. 

🎯 Tata Communications :
Company said that Neeco Global ICT Services has become a customer of the company, to market digital solutions for enterprises in Europe.

🎯 Mahanagar Gas :
Gas supply to Mahanagar Gas CNG stations in Mumbai restored.

🎯 Future Market Networks :
ESR arm has partnered with Future Group to invest Rs.300 crore to develop logistics infra assets in Nagpur and Jhajjar.

🎯 Praj Industries :
Company's proprietary technology to be deployed to produce ethanol and other co-products using sugarcane bagasse in the U.S.

🎯 IndiaMart InterMesh :
Company to acquire 26 % stake in in Simply Vyapar App for Rs.31.2 crore.

🎯 Rodington :
Standard Chartered Private Equity reduced its stake in the company by 2.72 percent to nil.

🎯 Mangalam Cement :
Company promoter Vidula Consultancy Services acquired four lakh shares on Aug. 30.

🎯 Anant Raj :
Company promoter Anil Sarin acquired 7.7 lakh shares from Aug. 28-29.

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Edited by Sharp.

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