10th October, 2019 Morning Brief

Market will open with a gap down after yesterday's pullback rally.

Asian stocks and U.S. futures fell, China’s yuan dropped and the yen edged higher as optimism about crucial Sino-American trade talks subsided.

Thursday’s session saw a volatile open, with contracts on the S&P 500 Index down as much as 1.3% then paring almost half the loss as traders reacted to conflicting reports on whether negotiations would be cut short to just one day.

🎯 News & Impact 🎯

Major Results Today :

Indusind Bank, TCS

🎯 Lakshmi Vilas Bank, Indiabulls Housing Finance :
The proposed merger of private sector lender with home financier failed to receive approval from the RBI.

🎯 Reliance :
Jio Infocomm Ltd. on Wednesday announced it will charge Jio customers 6 paise per minute for voice calls made to rival phone networks.
Positive for the stock. 👍

🎯 Bharti Airtel :
Company has raised $ 750 million (about Rs 5,330 crore) from investors based in Asia, Europe and the U.S. through a hybrid financial instrument. 
Positive for the stock. 👍

🎯 Torrent Pharma :
Company received a warning letter from the U.S. drug regulator for its Indrad, Gujarat facility, barring fresh approvals from its largest unit that contributes bulk of its sales in the American market.
Negative for the stock.

🎯 Bank of Maharashtra :
The RBI has denied the Bank’s request for setting off accumulated losses aggregating to Rs.7,360.29 crore against the balance lying in share premium account and the revenue reserve account of the Bank.
Negative for the stock.

🎯 Sintex Industries :
defaulted in payment of interest on non-convertible debentures worth Rs 5.92 crore which were due on Oct. 8.
Negative for the stock.

🎯 Coffee Day Enterprises :
Company said that promoters hold 25.35 % stake in the company, out of which 79.94 % of the promoter’s stake is pledged, which is roughly about 4.28 crore shares.

🎯 Transformers & Rectifiers :
Company received orders worth Rs 126 crore from Power Grid Corporation. Order book as on date stands at Rs 1,001 crore.

🎯 Indian Oil Corporation :
Company’s Canadian unit has sought requests for proposals from lenders for facility to refinance a loan of Canadian $580 million from 2014.
Positive for the stock. 👍

🎯 Coal India :
Company said it has lost 13 million tonne, or 2.1%, of its annual output this financial year, due to strikes at eastern Indian Talcher coalfields, one of India's biggest, a spokesman for the company's unit said on Wednesday.

🎯 NHPC :
Company takes over Lanco Teesta Hydro Power Limited: NHPC has completed formalities for taking over 500 MW Teesta VI hydro power project, which it has bagged under corporate insolvency resolution process.

🎯 M&M :
Launched a special edition of its utility vehicle the Bolero with a host of new features amid the festival season

🎯 Sadbhav Engineering :
Promoter releases pledge on 5.6 lakh shares (0.33%) on September 30.

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Edited by Sharp.