5th September, 2019 Morning Brief

Market will open flat today after a positive closing yesterday.

Stocks and U.S. futures opened higher on Thursday in Asia after a broad rally in global equities amid an improvement in investor sentiment.

Stock losses eased across the globe yesterday after the political tensions appeared to subside in Hong Kong, Italy and the UK, while indicators in China and Europe hinted global economic growth may not be as bad as some expected.

🎯 News & Impact 🎯

🎯 Wipro :
Company secured a strategic seven-year contract worth $300 million from ICICI Bank to provide digital services.
Positive for the stock. 👍

🎯 Power Grid Corporation :
Company declared successful bidder for Transmission work in Madhya Pradesh.

🎯 Equitas Holdings :
Equitas Small Finance Bank has sought Reserve Bank of India extension on listing of shares.

🎯 ONGC :
Company stated on the fire accident in Uran Processing Unit of the company that Offshore Crude supply has remained unaffected and impact of fire in local vicinity is ‘nil’. 
Positive for the stock. 👍

🎯 MCX :
Company signed a memorandum of understanding with China’s Zhengzhou Commodity Exchange for cooperation and the exchange of information. Prithvi Haldea resigned from post of Public Interest Director with effect from Sept. 3.

🎯 ICICI Lombard :
Company enters into a strategic tie up with Standard Chartered Bank.

🎯 SREI Infra Finance :
Company signed co-operation agreement with Russia’s Quippo and Rosgeo, where all the parties intend to develop cooperation in the fields of land and marine geophysical work in both the countries.

🎯 Elecon Engineering :
Company received arbitration award worth Rs 37.5 crore against BGR Energy as the order was passed by NCLT.

🎯 Hindalco :
Deal to buy aluminium maker Aleris Corp faces U.S. regulatory hurdle.

🎯 Sterling Biotech :
NCLAT sets aside liquidation of Sterling Biotech

🎯 Usha Martin :
Company promoter Rajeev Jhawar acquired 19.2 lakh shares on Sept. 3.

🎯 Cadila Healthcare :
Company promoter group Zydus Family Trust acquired 2.5 lakh shares on Sept. 3.

🎯 Vodafone Idea :
Company promoters acquired 25 lakh shares from Aug. 29-30.
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Edited by Sharp.