9th September, 2019 Morning Brief

Market will open on a flat note today.

Asian stocks saw modest gains on lower volumes Monday, as traders weighed further stimulus from China amid weak economic data.

U.S. stocks on Friday supported for a third straight advance.

The U.K. Parliament may be suspended as soon as Monday, and a bill blocking a no-deal Brexit could become law. That bill would derail Prime Minister Boris Johnson’s strategy and could trigger the opposition Labour Party to agree to a general election.
OPEC’s monthly oil market report, which includes demand forecasts and production estimates, is due Wednesday.
The European Central Bank policy meeting this Thursday is widely expected to see a cut to interest rates and a review of all options.

🎯 News & Impact 🎯

🎯 NBCC :
Company secures business of Rs 400 crore in the month of August, 2019. Company has submitted its willingness to take over the responsibility of preparing a revised plan to take over incomplete assets to the Supreme Court.

🎯 Equitas Holdings :
The Reserve Bank of India on Friday denied an extension of the deadline to Equitas Small Finance Bank for its listing on the bourses. As per the RBI’s licensing requirements, the deadline for listing the bank was Sept. 4. As a punitive measure, RBI said that the bank is not permitted to open new branches till further notice and froze the remuneration of managing director and chief executive officer of the bank stands frozen at the existing level till further notice.
Negative for the stock. 👎

🎯 CanFin Homes :
Canara bank seeks bids to sell its 29.99 % stake in Can Fin Homes.

🎯 Vivimed Labs :
Company enters definitive agreements for transfer and sale of its wholly owned subsidiary to Vivimed Specialty Chemicals UK.

🎯 Zee :
The Zee group promoters, which sold a stake in flagship Zee Entertainment Ltd. a month ago, repaid nearly Rs 4,450 crore to lenders including mutual funds and non-bank finance companies, the person said on the condition of anonymity as the information is not public yet.

🎯 Reliance Industries :
RIL and BP Plc aim to commence gas production from KG-D6 basin in April-June 2020. Consortium seeks bids for selling 5 million metric standard cubic meter per day of gas on long-term basis. The bidding would be conducted on Oct. 10. Seeks USD 5.4 minimum price for new gas from KG-D6.

🎯 Coffee Day Enterprises :
The company has appointed idfc securities as advisor for identifying strategic option for stake sale.

🎯 Shilpa Medicare :
Company received two observations for formulation plant in Telangana by the U.S. FDA. The company also said that there were no repeat observations or data integrity related observations.

🎯 GFL :
Company promoter Inox Leasing and Finance acquired 56,000 shares on Sept. 4.
Positive for the stock. 👍

🎯 Cadila Healthcare :
Company promoter Zydus Family Trust acquired 2.7 lakh shares on Sept. 4.
Positive for the stock. 👍

🎯 Meghmani Organics :
Company promoters acquired 72,000 shares from Sept. 3-4.
Positive for the stock. 👍
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Edited by Sharp.