11th October, 2019 Morning Brief

Market will open on a positive note after yesterday's correction.

Stocks in Asia gained as high-level U.S.-China trade talks progressed into a second day and optimism grew that a truce can be achieved.

Market may trade cautiously ahead of  release of August industrial production data today. Nifty will have to sustain above 11600-11700 declining trendline to see new horizon. Similarly, 11000 will be considered as a good immediate support.

🎯 News & Impact 🎯

Major Result Today :
Infosys

Results Updates :

🎯 IndusInd Bank Q2 :
Net profit down 3.4% at Rs 1,383.4 crore against Rs 1,432.5 crore.
NII up 2.3% at Rs 2,909.5 crore against Rs 2,844 crore, QoQ.

🎯 TCS (Q2, QoQ) :
Dollar revenue rose 0.6 % to $5,517 million.
Revenue rose 2.1 % to Rs.38,977 crore. Net profit fell 1.1 % to Rs.8,042 crore.

🎯 Fortis Healthcare :
Police in New Delhi have arrested former billionaire Shivinder Singh and three others on charges of siphoning funds and fraudulently diverting nearly $337 million from a lender they controlled.
Negative for the stock.

🎯 Tata Steel Ltd :
Crude steel production increased 4.65 % to 4.5 million tonne in second quarter ended Sept. 30 as against 4.3 MT in the corresponding quarter in the last financial year.

🎯 Biocon :
Unit entered into strategic licensing agreement with Evotec Group for an early-stage, pre-clinical bio similar asset.

🎯 Eveready Industries :
Completed the sale of its land in Chennai for Rs 100 crore to Alwarpet Properties.

🎯 Astron Paper & Board Mill :
Company has doubled its capacity to 1,74,600 million tonne per annum in the previous financial year.

🎯 ARSS Infrastructure Projects :
Company bags orders worth Rs. 220.65 crore.

🎯 NHPC :
Company has completed the formalities for the takeover of Lanco Teesta Hydro Power.

🎯 Arvind Smartspaces :
Company & HDFC Capital set up a Rs. 250 crore affordable and mid-income housing platform.

🎯 Quess Corp :
Shareholders approved amalgamation of the company’s four arms with self.

🎯 Aban Offshore :
Company has received award for deployment of rig from Oil & Natural Gas Corporation for a period of three years.

🎯 Godrej Agrovet :
Company has in created its shareholding in Godrej Maxximilk from 62.97 % to 74 %.

🎯 Vakrangee :
Company has announced its partnership with Aadhar Housing Finance Ltd. for offering distribution of Home Loan & Loan against Property through its Nextgen Vakrangee Kendras.

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Edited by Sharp.