29th November, 2019 Morning Brief

Market will open on a negative side after yesterday's last hour recovery on a closing note of November month expiry.

Stocks in Asia nudged higher on the final trading day of November with a lack of fresh drivers due to the U.S. holiday.

U.S. equity and bond markets were shut on Thursday for Thanksgiving.

28th November, 2019 Morning Brief

Market will open on a positive note.

U.S. equity futures slipped and the yen nudged higher after President Donald Trump signed a bill backing Hong Kong protesters, a move that could further strain discussions on the trade front with China.

The S&P 500, Nasdaq Composite and Dow Jones Industrial Average closed at all-time levels for a third straight day on Wednesday. Data on U.S. gross domestic product and claims for unemployment beat analysts’ expectations.

🎯 News & Impact 🎯

🎯 Zee Entertainment Enterprises : 

Days after promoters lost control, three directors of the company resigned, with two citing related-party loans and film advances, among other issues, as the reasons.

🎯 JSW Group : 

JSW Cement has raised capacity target to 25 million tonne per annum by 2023 with a capex investment of Rs 2,875 crore. The company may look at initial public offering by December 2021.

🎯 Shiva Cement :

Company declared preferred bidder for new mine block and has planned clinker and grinding units of 1 MTPA each, and setting up of 3,000 TPD Clinker Unit.

🎯 BSE :

BSE approved sale of 41.8 lakh shares (4 percent stake) in CDSL via OFS worth up to Rs 85.69 crore.

🎯 Enkei Wheels :

Company has revised its proposed expansion plan at its land beside existing plant in Pune.

🎯 Schneider Electric Infra :

Company has announced the launch of its Bengaluru factory for manufacture of industrial UPS systems and variable speed drives, according to its media statement.

🎯 Balaji Amines :

Company is setting up organic and specialty chemicals manufacturing unit of capacity 874.2 tonne per day in Maharashtra. It has also received the environmental clearance for the same from the government for the aforementioned unit.

🎯 Cipla :

Company’s arm Cipla (EU) has increased its stake in its Sri Lanka arm from 60 % to 100 %. 

🎯 Autoline Industries : 

The company entered into an agreement with Kinetic Green Energy and Power Solutions for E-cycles.

🎯 Indian Overseas Bank : 

The Reserve Bank of India has levied penalty of Rs 3.3 lakh under the FEMA Act.

🎯 Tata Steel :

Company confirms 1,000 job cuts in UK as talks with workers kick off.  

🎯 NTPC :

Company signs MoU with C'garh govt for medical college expansion

🎯 Bayer CropScience : 

Monsanto (U.S.) acquired 3.44 % stake in the company via share allotment on Nov. 25.

🎯 Bajaj Electricals : 

HDFC MF increased stake from 5.16 % to 7.18 % in the company.

🎯 Ceat :

Company has signed a share subscription agreement with Greenzest Solar and Cleantech for acquiring up to 26 % stake aggregating to Rs 5 crore, in Greenzest Solar.

🎯 Tata Communications :

Company and Kacific ink global IP connectivity and cyber security deal. 

🎯 Grasim Industries :

Company promoter IGL Holdings acquired 1.37 lakh shares on Nov. 21.

Positive for the stock. 👍 

🎯 Filatex India :

Company promoter Azimuth Investments acquired 2 lakh shares from Nov. 25-26.

Positive for the stock. 👍

🎯 Infra stocks :

Govt chalks out plan for Rs.100 lakh cr investment in infra over 5 years: Piyush Goyal.

Positive for the sector. 👍 

🎯 Telecom stocks :

Govt has no plans to reduce price for 5G spectrum.

Negative impact. ⬇

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Edited by Sharp. 

27th November, 2019 Morning Brief

Market will open on a positive note today after yesterday's volatile session.

Asian stocks eked out modest gains at the open Wednesday as investors monitored developments on U.S.-China trade talks.

The S&P 500, Dow Jones Industrial Average and Nasdaq Composite climbed to fresh records for a second consecutive day after President Donald Trump said he’s been talking to Chinese President Xi Jinping and that they continue to work for a trade deal.

🎯 News & Impact 🎯 

CSB Bank :

IPO gets 86.9 times demand for the shares offered.

Ujjivan Small Finance Bank :

IPO opens on Dec. 2, closes on Dec.4. The company plans to sell shares at Rs 36-37 apiece in IPO.

🎯 HCL Technologies :

Record date for bonus share issue fixed at Dec. 7.

🎯 Prestige Estates Projects :

Company signed an agreement with Marriott International to open six new hotels across India, representing nearly 1,000 rooms. All hotels are expected to open between 2021-2025, according to its media statement.

🎯 REC, PFC :

Govt. asks REC, PFC and Indian Renewable Energy Development Agency to lend more than $1 billion to state distribution utilities to help them clear their dues to renewable power generators.

🎯 Seamec :

Company has deployed its vessel to Posh Subsea for a charter value of $4.86 million.

🎯 Max India :

has completed the sale of its material subsidiary Pharmax to its another arm Max Estates for Rs 60.73 crore.

🎯 Rites : 

Post OFS Government’s stake reduced from 87.4 % to 77.4 %.

🎯 Container Corporation of India :

Company has signed a settlement agreement with Kohinoor India by making a total payment of Rs 9.18 lakh. Parties have also undertaken that they shall not file any other claim/ suit/ petition in any Court with respect to the dispute.

🎯 Reliance Capital :

Yes Bank sells over 17 lakh shares of Reliance Capital. 

🎯 Biocon : 

USFDA approves company's sBLA for Pegfilgrastim nw manufacturing facility. 

🎯 Reliance Infra :

PIMCO buys nearly 24 lakh shares of Reliance Infrastructure. 

🎯 ICICI Pru MF, HDFC MF :

Company receive payments from Essel Group. 

🎯 JSW Steel :

Company promoter JSW Holdings acquired 4 lakh shares from Nov. 20-21.

🎯 Confidence Petroleum India :

Company promoters acquired 1.44 lakh shares from Nov. 19-22.

🎯 Wockhardt :

Company promoters sold 15 lakh shares from Nov. 20-22.

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Edited by Sharp. 

26th November, 2019 Morning Brief

Market will open on a positive note today after yesterday's smart rally.

Asian stocks gained Tuesday amid optimism over U.S.-China trade talks and a fresh wave of merger and acquisition activity. 

The S&P 500, Dow Jones Industrial Average and Nasdaq Composite Indexes reached all-time highs after China said over the weekend that it will tighten intellectual property rules.

🎯 News & Impact 🎯 

CSB Bank IPO gets 4.35 times demand on the second day of sale; offer to close today.

Dish TV, NBCC, Tata Motors DVR and Castrol India to be excluded from F&O segment from January 2020.

🎯 Zee Entertainment Enterprises: Media baron Subhash Chandra stepped down as chairman of the company a week after debt-ridden promoters’ holding in the broadcaster fell to 5 % after selling additional stake.

🎯 Thomas Cook :

Company said that it has completed its corporate restructuring process, and demerged its human resources business in to Quess Corp. Each shareholder of Thomas Cook India will accordingly be issued 1,889 shares of Quess Corp of Rs 10 for every 10,000 fully paid up equity shares of Re 1 each. Record date set for the afore-mentioned scheme at Dec. 6. 

🎯 Goodyear :

Company said that it will close its manufacturing operations at Faridabad plant from Nov. 25-30 to align production with market demand.

🎯 InterGlobe Aviation : 

India’s aviation regulator has directed the country’s largest airline to ground one Airbus A320neo plane with unmodified Pratt & Whitney engines for every new A320neo it inducts to its fleet, according to PTI report.

🎯 Aarti Industries : 

The company incorporated two wholly-owned subsidiaries namely Aarti Organics and Aarti Bharuch.

🎯 Ashok Leyland :

Company signed a memorandum of understanding with lClCl Bank to enter into strategic financing partnership for two years to offer customised financial solutions to customers across lndia with focus on semi-urban and rural geographies.

🎯 Ugro Capital :

Company has signed SME loan co-origination agreement with State Bank of India.

🎯 Bimetal Bearings : 

The company is to revoke non-working days at the powder plant at Sembium, Chennai for the rest of November. 

🎯 Nava Bharat Ventures :

Company promoter & director Ashwin Devineni acquired 78,000 shares from Nov. 19-20.

🎯 Filatex India :

Company promoter Azimuth Investments acquired 2 lakh shares from Nov. 20-22.

🎯 Ultratech Cement :

Company promoter IGL Holdings sold 5.82 lakh shares on Nov. 20.

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Edited by Sharp. 

25th November, 2019 Morning Brief

Market will open on a positive note backed by positive signals from global markets. 

Stocks in Asia rose along with American equity futures as investors monitored the latest move by China to ease trade tensions.

U.S. equities edged higher on Friday after President Donald Trump said he was “very close” to a trade pact with China even as he warned that Beijing wanted a deal more than he did.

🎯 News & Impact 🎯

CSB Bank IPO fully subscribed on day 1 with with retail portion oversubscribed over five times.

🎯 Tata Motors, Tata Motors DVR, Vedanta, Yes Bank to exit BSE Sensex from December 23. 

Titan, UltraTech Cement, Nestle India to be included in BSE Sensex from December 23.

🎯 IDBI Bank :

Bank has entered into a share purchase agreement with Muthoot Finance to its entire stake of 66.67 percent in IDBI Asset Management and entire 100 percent stake in IDBI MF Trustee Company for Rs 215 crore.

🎯 Unichem Laboratories :

Company received an abbreviated new drug application approval for Atenolol Tablets from U.S. FDA. These tablets are used for treatment of hyper-tension and will be commercialised from company’s Ghaziabad plant.

🎯 Bharti Airtel, Vodafone Idea :

Company filed review petitions on top court fees ruling, according to Bloomberg report.

🎯 RITES :

Company offer for sale to non-retail investors sees 111 % demand.

🎯 Shoppers Stop :

Company has opened a new store in Navi Mumbai. The company now has 85 stores.

🎯 Kridhan Infra :

Company’s Singapore arm has received a written order for its liquidation by the regulatory authorities.

🎯 Ashapura Minechem :

Company has entered into a rupee denominated secured term loan agreement of Rs 78 crore with Elara Finance for repayment of existing obligations of banks/financial institutions.

🎯 Power Grid Corporation of India :

Company declared successful bidder into two intra-state transmission projects in Uttar Pradesh.

🎯 Ashoka Buildcon : 

Subsidiary bagged order from NHAI for project in Telangana worth Rs 1,000 crore.

🎯 ARSS Infra Projects :

Company has received work order worth Rs 45.8 crore for construction of a road and bridge in Sonepur.

🎯 Indoco Remedies :

Company receives EIR for its manufacturing facilities in Goa (Plant II & III). 

🎯 MEP Infrastructure Developers : Company received the Letter of Award (LOA) from National Highways Authority of India (NHAI) for Uttar Pradesh project.

🎯 Inox Wind :

Company gets extension from SECI for for commissioning of 5*50 MW ISTS connected wind power projects in Gujarat

🎯 Nestle India :

Company to consider interim dividend on Dec. 11.

Positive for the stock movement.

🎯 Grasim Industries :

Company promoter ECE Industries sold 1.37 lakh shares on Nov. 21.

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Edited by Sharp. 

22nd November, 2019 Morning Brief

Market will open on a flat note today after.

Asia stocks saw muted trading Friday as investors awaited further details on U.S.-China trade discussions.

U.S. equities slid following losses in Europe and Asia as traders weighed conflicting signals about the outlook for a trade deal between Beijing and Washington. The S&P 500 Index fell for a third day, the longest losing streak in almost two months, but remained within 1 percent of a record high.

🎯 News & Impact 🎯

New IPO :

India’s CSB Bank IPO at Rs 193-195 per share opens for sale, to close on Nov. 26. 

🎯 Zee Entertainment Enterprises :

Company promoter group of the company has sold more than 14 crore shares (14.28 crore) in the bulk deals on November 21.

🎯 Rites : 

Government is looking to raise up to Rs 1,100.6 crore via the offer-for-sale mechanism.

🎯 TV 18 Broadcast, Network 18 Media :

Company clarified on the news of Sony Stake purchase that the company is evaluating various opportunities on ongoing basis.

🎯 Laurus Labs :

Company has received three observations on the pre-approval inspection for an API manufactured at its two units in Visakhapatnam by U.S. Food and Drug Administration.

🎯 Sun Pharma :

Company's arm Taro gets tentative USFDA nod for Tavaborole drug. 

🎯 Sun Pharma, Alembic Pharma & Alkem Labs gets USFDA nod for Deferasirox. 

🎯 Finolex Cables :

Company launches electrical accessories range to fortify its product offering.

🎯 Sterling & Wilson Solar : 

73.63 % of founder’s holding is encumbered.

🎯 JSW Steel :

Company promoter JSW Holdings acquired 4 lakh shares from Nov. 18-19.

🎯 Deepak Fertilizers 

Deepak Fertilizers & Petrochemicals promoter Yeshil Mehta acquired 1 lakh shares on Nov. 18.

🎯 AVT Natural Products :

Company promoters acquired 1.37 lakh shares from Nov. 18-19.

🎯 Ultratech Cement :

Company promoter IGL Holdings sold 1.9 lakh shares from Nov. 18-19.

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Edited by Sharp. 

21st November, 2019 Morning Brief

Market will open on a flat note today after hitting a new high. 

American equity futures dipped and stocks in Asia opened with a cautious tone after support from the U.S. Congress for Hong Kong protesters set up the potential for further confrontation with China as investors await a trade deal.

The S&P 500 Index posted its biggest loss in a month after a report that Washington and Beijing are unlikely to reach a trade deal this year.

🎯 News & Impact 🎯

The Cabinet has approved strategic divestment in three listed state-run companies. It will divest:

🎯 Bharat Petroleum : 

53.29 % stake

🎯 Container Corporation of India : 

30.8 % stake, where it owns 54.8 % stake.

🎯 Shipping Corporation of India : 63.75 % stake.

🎯 NTPC Ltd. :

Company will buy the government’s stake in THDC India Ltd. and North Eastern Electric Power Corporation Ltd.

🎯 Zee Entertainment Enterprises  :

Essel Group is to sell a 16.5 percent stake in Zee to financial investors

🎯 DHFL : 

The Reserve Bank of India has superseded the board of DHFL. 

🎯 Oil India :

Company commenced seismic survey operation in its Rajasthan Block.

🎯 Aurobindo Pharma : 

U.S. Food and Drug Administration sent Form 483 observations to the company after conducting inspections last month. 

🎯 Dilip Buildcon :

Company has received provisional certificate of completion for HAM Project in Maharashtra. Scheduled completion date was May 28, 2020.

🎯 Great Eastern Shipping :

Company has contracted to sell its Crude Carrier Vessel, which will be delivered to new buyer in the third quarter of the current financial year.

🎯 MOFSL :

Limit for accepting PMS account raised to 50 lakhs from 25 lakhs. 

Negative for the stock. 

🎯 Jubilant Life Sciences :

Ministry of Commerce, republic of China has decided to terminate the 17.6% anti-dumping duty on imported pyridine originating in India

🎯 Thomas Cook :

Company's arm completed the acquisition of 51 percent stake in BDC Digiphoto Imaging Solutions.

🎯 Intellect Design : 

The company received an order from the Philippines Business Bank.

🎯 Aarti Industries :

Company promoters sold 1.25 lakh shares from Sept. 27-Nov. 19.

🎯 Filatex India :

Company promoter Azimuth Investments acquired 2 lakh shares on Nov. 18.

🎯 Shakti Pumps :

Company promoter Dinesh Patidar acquired 5,75,000 shares from Nov. 18-19.

🎯 J Kumar Infraprojects :

Company promoters acquired 3 lakh shares from Nov. 19-20.

🎯 Coffee Day Enterprises :

Lenders invoked a 4.20 percent pledged stake of the company on November 19.

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Edited by Sharp. 

20th November, 2019 Morning Brief

Market will open on a positive note today to continue yesterday's last hour rally.

Asian stocks and American equity futures retreated after the U.S. Senate passed legislation supporting Hong Kong protesters, potentially complicating U.S.-China trade talks. Treasuries edged up.

The Nasdaq Composite rose to a new record high on the back of gains in megacap tech companies even as the Dow Jones Industrial Average sank following disappointing reports from retailers.

🎯 News & Impact 🎯

Major Results Today 

Results Updates :

🎯 Siemens (Q4FY19, YoY) :

Revenue rose 4.8 % to Rs 4,128.8 crore.

Net profit rose 18.3 % to Rs 333.9 crore.

September TRAI Data

Reliance Jio added 6.98 million mobile users.

Bharti Airtel lost 2.38 million mobile users.

Vodafone Idea lost 2.58 million mobile users.

Positive for Reliance. 👍 

🎯 Reliance Industries : 

Reliance Jio announced tariff hikes a day after peers Bharti Airtel and Vodafone Idea said they would charge subscribers more from next month.

🎯 NBCC :

Company will provide project consultancy for the development of National Museum of Natural History at New Delhi for Rs 500 crore.

🎯 IRCTC :

Company signed a concession agreement with Karnataka State Tourism Development Corporation for taking over the operations, marketing and day to day maintenance of Golden Chariot Train.

🎯 Axiscades Engineering Technologies :

Company promoter Jupiter Capital increased the stake from 49.52 % to 51.3 %

🎯 Wipro :

Company partnered with MuleSoft to provide digital solutions.

🎯 Bank of Baroda : 

The Reserve Bank of India imposed penalty of Rs 2.5 crore for non-compliance with the directions issued by the RBI in various accounts of Srijan Mahila Vikas Sahyog Samiti at Bhagalpur Branch.

🎯 Birla Corporation :

Company acquired 26 % stake in AMPSolar Clean Power for Rs 7.6 crore.

🎯 AVT Natural Product :

Company promoter group acquired 92,000 shares from Nov. 15-18.

19th November, 2019 Morning Brief

Market will open on a positive note today after a volatile session yesterday.

Asian stocks drifted lower at the open as investors continued to await signs of progress in U.S.-China trade negotiations.

U.S. stocks edged higher to fresh records as investors looked for signs of progress in U.S.-China trade negotiations.

🎯 News & Impact 🎯 

CSB Bank IPO opens on Nov. 22. The IPO price band is fixed at Rs 193-195 per share.

🎯 Telecom stocks : 

Bharti Airtel and Vodafone Idea announced plans to increase tariffs from next month. 

🎯 Tata Motors :

Company has bagged an order for 400 electric vehicles from Lithium Urban Technologies, informed the homegrown automaker in a release. These include 400 Tata Tigor EV sedan.

Positive for the stock. 👍 

🎯 Grasim Industries, Vodafone Idea : Aditya Birla Idea Payments Bank filed for voluntary liquidation. Liquidation order was passed on Sept. 18.

🎯 Welspun Corp : 

The Competition Commission of India approved Plates and Coils Mill-Welspun-Laptev finance deal, according to Bloomberg report.

🎯 Maruti Suzuki :

Company launched BS-VI compliant Wagon R variant for petrol.

🎯 Accelya Solutions :

Company said that the company’s holding company Accelya Topco has entered into an agreement for sale of its shares to investment firm Vista Equity Partners.

🎯 8K Miles Software Services : 

Deloitte Haskins & Sells resigned from the post of Statutory Auditors on Nov. 15.

Negative for the stock. 

🎯 Prestige Estates :

Company acquired 29 % stake in DB (BKC) Realtors from Trinity Capital.

🎯 Yes Bank :

Company acquired 20.61 % stake in Tulip Star Hotels over invocation of pledge of shares.

🎯 SBI Life Insurance :

Carlyle plans to sell 3 % stake in SBI Life Insurance through block deals.

🎯 TCS :

Company launches Microsoft business unit To help accelerate business transformation. 

🎯 Ultratech Cement :

Company promoter group sold 1.27 lakh shares on Nov. 13.

Negative for the stock. 

🎯 Music Broadcast :

Company promoter Jagran Prakashan acquired 46,000 shares from Nov. 14-15.

Positive for the stock. 👍 

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Edited by Sharp. 

18th November, 2019 Morning Brief

Market will open on a flat note today. 

Stocks saw a muted open to the week in Asia as investors await fresh developments on the U.S.-China trade front.

The S&P 500 reached another record on Friday and gained for the sixth week in a row, the longest streak in two years.

Oil climbed to the highest in nearly two months amid optimism that the U.S. and China are close to locking down a partial trade deal.

On domestic front, muted September quarter numbers of Indian corporates, weak economic data on inflation and IIP kept the Indian market volatile throughout the week gone by.

Worrisome macroeconomic prints coincided with change in the growth outlook by Moody's last week where it was downgraded to negative from stable for India.

US-China trade deal, macro data and policy measures by the government, if any, to help stressed sectors such as telecom, will be a major trigger for the market this week. All eyes will be on whether the government announces any fresh stimulus to stressed telecom sector. 

Despite disappointing macro numbers coming in this week (November 11-15), the market continued to rally, which is enough to conclude that we're witnessing a bull market. So again sustaining above 12050 plus would be a key to revisualize new tops for the Nifty50.

🎯 News & Impact 🎯 

🎯 Unichem Lab :

Company received ANDA approval for Buspirone Hydrochloride Tablets from the U.S. FDA to market generic version of Buspar Tablets which are used in anxiety disorders.

🎯 Wockhardt : 

Cipla, Dr Reddy's Labs, Carlyle & Asian Investment Fund PAG are in the fray to acquire select business segments of the company, said sources.

🎯 Cadila Healthcare : 

Zydus receives tentative approval from the USFDA for Apremilast Tablets. 

🎯 Rcom :

Anil Ambani resigns as director of Reliance Communications. 

Negative for the stock. 

🎯 Asian Oilfield Services : 

The company acquired an additional 51 % stake in Optimum Oil & Gas, making it a subsidiary.

🎯 HCL Infosystems :

Company has completed the sale of its Singapore arm to PCCW Solutions for SGD 57.6 million.

🎯 Hinduja Global Solutions : 

UK arm acquires additional 14.33% share in Element Solutions LLC, USA. 

🎯 Pokarna :

Company said that the U.S. Department of Commerce has amended preliminary CVD for PESL from 4.32 % to 83.79 %.

Negative for the stock. 

🎯 HIL :

Company has commenced production of CpVC, UpVC and SWR Pipes at Thimmapur Plant in Telengana.

🎯 PPAV Automotive :

Company arm Elpis Components Distributors commenced its operations with effect from Nov. 15.

🎯 Jewellery stocks : 

India raised duty drawback on gold jewellery to Rs 372.9 per gram and for silver jewellery to Rs 4,332.2 per kilogram.

🎯 Zensar Technologies :

Company promoters acquired 42,000 shares from Nov. 11-13. 

Positive for the stock. 👍 

🎯 Ultratech Cement :

Company promoter IGH Holdings sold 2.1 lakh shares from Nov. 8-11. 

Negative for the stock. 

🎯 Parag Milk Foods :

Company promoter Devendra Shah acquired 2 lakh shares on Nov. 15.

Positive for the stock. 👍

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Edited by Sharp. 

15th November, 2019 Morning Brief

Market will open on a positive note today after yesterday's volatile session. 

Asian stocks saw a muted start to trading Friday as traders awaited further updates on a partial U.S.-China trade deal.

U.S. stock indexes were mixed and bonds advanced as the risk rally stalled below all-time highs amid mixed economic data and mounting concern over a partial trade deal.

India to release trade data for October

🎯 News & Impact 🎯

🎯 Bharti Airtel (Q2, YoY) :

Revenue rose 1.9 % to Rs 2,1131 crore. 

Net loss was at Rs 23,045 crore versus net loss of Rs 2,866 crore.

Exceptional loss of Rs 28,450 crore during Q2 related to AGR dues.

Negative for the stock. 

🎯 ONGC (Q2, QoQ) :

Revenue fell 7.8 % to Rs 24,492.6 crore.

Net profit rose 6.1 % to Rs 6,263.1 crore.

🎯 Apollo Hospital :

The company reported a year-on-year (YoY) net profit jump of 36 % at Rs 86.2 crore for the quarter ended September 30, 2019.

Positive for the stock. 👍 

🎯 Vodafone Idea (Q2, QoQ) :

Revenue fell 3.8 % to Rs 10,844 crore. 

Net loss was at Rs 50,922 crore versus net loss of Rs 4,874 crore.

Negative for the stock. 

🎯 Glenmark Pharmaceuticals (Q2, YoY) :

Revenue rose 9.1 % to Rs 2,815 crore. 

Net profit fell 38.3 % to Rs 255.5 crore.

🎯 SAIL (Q2, YoY) :

Revenue fell 15.6 % to Rs 14,129 crore. 

Net loss was at Rs 286 crore versus net profit of Rs 609.8 crore.

Negative for the stock. 

🎯 Reliance Infra Q2 : 

Consolidated net profit up 21% at Rs 280.3 crore versus Rs 231.6 crore, 

Revenue up 1.7% at Rs 5822.5 crore versus Rs 5726.3 crore, YoY. 

Positive for the stock. 👍 

🎯 Cipla :

Company received four observations from routine Current Good Manufacturing Practice inspection for both Formulation and API manufacturing facility at Patalganga by U.S. Food and Drug Administration.

Cautious over the stock. 

🎯 SBI : 

Board approved divestment of the Bank’s stake in SBI Cards up to 4 % through initial public offering by way of offer for sale of up to 3.73 crore shares. 

🎯 Natco Pharma :

Company said that it’s FDF facility in Visakhapatnam has commenced commercial operations.

Positive for the stock. 👍 

🎯 IRCTC :

Company hiked catering charges for meals served in Rajdhani, Shatabdi and Duronto trains.

🎯 Info Edge :

Company clarified that the company is not looking for its stake in Zomato via secondary sale as of now.

🎯 L&T Financial Services :

Company will sell its arm L&T Capital Markets (Middle East) for Rs 18.03 crore to InCred Group.

🎯 Adani Transmission :

Entire shareholding of REC Transmission Projects Company (RECTPCL), a wholly owned subsidiary of REC in Lakadia Banaskantha Transco & Jam Khambaliya Transco, transferred to Adani Transmission. 

🎯 Bank of Baroda : 

The Competition Commission of India has approved BNP Paribas MF and Bank of Baroda MF merger. 

Positive for the stock. 👍 

🎯 Prabhat Telecom :

Company signed two Non-Disclosure Agreement with two entities for development and sale of digital solutions. Company also commenced its telecom products distribution business in U.S.

🎯 Adani Green Energy :

Company bid to set up 4GW of solar power capacity and 1GW of equipment manufacturing. 

🎯 Nirlon :

Company promoter Shital Trading & Interiors sold 25,000 shares on Nov. 13.

Negative for the stock. 

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Edited by Sharp. 

14th November, 2019 Morning Brief

Market will open on a flat note after yesterday's slide.

Stocks in Asia opened mixed Thursday ahead of a slew of Chinese economic data and after a lacklustre session on Wall Street.

U.S. stocks edged higher, stalling below all-time highs as investors remained skittish about whether the U.S. and China will be able to hash out a partial trade deal.

🎯 News & Impact 🎯

Major Results Today :

Grasim Industries, ONGC, Vedanta, Bharti Airtel, SAIL

Results Updates :

🎯 Pidilite Industries (Q2, YoY) :

Revenue rose 2.8 % to Rs 1,806.6 crore.

Net profit rose 40 % to Rs 324.2 crore.

🎯 Blue Star (Q2, YoY) :

Revenue rose 21.1 % to Rs 1,249.5 crore. 

Net profit rose 93.4 % to Rs 37.9 crore.

🎯 RITES (Q2, YoY) :

Revenue rose 68.4 % at Rs 746.2 crore versus Rs 443 crore.

Net profit rose 2.2 times at Rs 232.6 crore versus Rs 107.7 crore.

Positive for the stock. 👍 

🎯 Bata (Q2, YoY) :

Revenue rose 7.3 % to Rs 722 crore.

Net profit rose 29.9 % to Rs 71.3 crore.

🎯 Cadila Healthcare (Q2, YoY) :

Revenue rose 13.7 % to Rs 3,366.6 crore.

Net profit fell 74.3 % to Rs 107.2 crore.

🎯 Bharat Heavy Electricals (Q2, YoY) :

Revenue fell 8.2 % to Rs 6226.9 crore.

Net profit rose 40.7 % to Rs 121.7 crore.

🎯 Muthoot Finance (Q2, YoY) :

Net interest income rose 35.1 % to Rs 1,631.5 crore.

Net profit rose 76.7 % to Rs 899.8 crore.

🎯 IRCTC (H1FY20, YoY) :

Revenue rose 3.8 % to Rs 972.6 crore.

Net profit rose 14 % to Rs 172.2 crore.

🎯 NALCO (Q2, YoY) :

Revenue fell 22.3 % to Rs 2,363.6 crore.

Net loss at Rs 28.4 crore versus Net Profit at Rs 510 crore.

Negative for the stock. 👎

🎯 

13th November, 2019 Morning Brief

Market will open on a flat note today after yesterday's holiday.

Asian stocks fell back Wednesday as investors continued to weigh the likelihood of a partial U.S.-China trade deal.

Oil ended slightly lower amid concern that U.S. President Donald Trump may expand his trade offensive, multiplying the economic headwinds already threatening global energy demand.

🎯 News & Impact 🎯

Results Updates :

🎯 Coal India (Q2, YoY) :

Revenue down 6.9 % to Rs 20,382.6 crore. 

Net profit up 14.2 % to Rs 3,522.7 crore. 

🎯 Britannia (Q2, YoY) :

Revenue up 6.2 % to Rs 3,048.8 crore. 

Net profit up 33.4 % to Rs 404.2 crore. 

🎯 Adani Ports and SEZ (Q2, YoY) :

Revenue up 8.2 % to Rs 2821 crore. 

Net profit up 74 % to Rs 1054 crore. 

🎯 Hindalco (Q2, YoY) :

Revenue down 8.1 % to Rs 9965 crore. 

Net profit down 74.7 % to Rs 78 crore. 

🎯 Aurobindo Pharma (Q2, YoY) :

Revenue up 18 % to Rs 5600 crore. 

Net profit up 5 % to Rs 640 crore. 

🎯 MNGL :

Revenue up 3.7 % to Rs 861.6 crore. 

Net profit up 59 % to Rs 270.6 crore. 

🎯 Prestige Estates (Q2, YoY) :

Revenue up 46.6 % to Rs 196.27 crore. 

Net profit up 53.8 % to Rs 15.72 crore. 

🎯 Adani Gas (Q2, YoY) :

Revenue up 8 % to Rs 514.43 crore. 

Net profit up 137 % to Rs 120.06 crore. 

🎯 Adani Enterprises (Q2, YoY) :

Revenue down 6.9 % to Rs 8626.94 crore. Loss at Rs 49.50 crore versus profit at Rs 172 crore. 

Negative for the stock. 👎

🎯 Sun TV (Q2, YoY) :

Revenue up 6.79 % to Rs 900.74 crore. 

Net profit up 1 % to Rs 368.79 crore. 

🎯 Repco Home (Q2, YoY) :

Net interest income up 6.47 % to Rs 115.95 crore. 

Net profit up 51 % to Rs 100.6 crore. 

🎯 Lupin : 

Board approved divestment of entire equity stake (99.82 percent) in company’s Japanese step down subsidiary Kyowa Pharma to Unis Capital Partners’ entity Plutus at an enterprise value of JPY 57,361 million or Rs 3702.4 crore. 

🎯 Tata Power :

Company's arm received a Letter of Award from Gujarat Urja Vikas Nigam Limited to develop a 50 MW solar project in Dholera Solar Park in Gujarat. 

🎯 Indian Hotels : 

Board approved acquisition of a hotel in Pune for Rs.108 crore. 

🎯 Embassy Office Parks REIT :

Company has received an invitation of offer from Embassy Sponsor for potential sale of 6.2 million square feet of completed office premises and 2.5 million sq ft of under-construction area in Embassy TechVillage, Bengaluru.

🎯 Edelweiss Financial Services :

Company announced that PE firm Sanaka Capital along with co-investors will be investing up to $75 million into Edelweiss Global Investment Advisor, the group’s Investment Advisory business.

Positive for the stock. 👍 

🎯 IL&FS :

Career Point Publications Pvt. Ltd. to purchase IL&FS Group’s education business.

🎯 Vinati Organics :

Board approved stock split in 1:2 ratio.

🎯 Deep Industries :

Company won two contracts worth Rs 20.25 crore and Rs 28.49 crore from ONGC. 

🎯 TCS :

Company expands partnership with Phoenix Group, Europe's largest life and pensions consolidator, to drive the growth and transformation of the Standard Life business and meet the future needs of its customers, workplace clients and their advisers.

🎯 Avanti Feeds :

Company promoter G Venkatesh sold 50,000 shares from Nov. 7-8. 

Negative for the stock. 👎

🎯 Ultratech Cement :

Company promoter Aditya Marketing and Manufacturing sold 2.5 lakh shares on Nov. 6. 

Negative for the stock. 👎

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp. 

11th November, 2019 Morning Brief

Market will open on a negative note to continue slide of the last session.

Stocks in Hong Kong led most Asian shares lower Monday, after two protesters were shot by police during the morning commute. Hong Kong’s Hang Seng Index lost about 1 percent at the open as tensions flared.

The S&P 500 Index ticked up to a new closing high on Friday, surpassing a record set the previous session and registering its fifth consecutive weekly gain, sparked by optimism that global growth troubles are dissipating.

🎯 News & Impact 🎯

Major Results Today :

Britannia, Adani Ports, Coal India, Hindalco 

Results Updates :

🎯 Nestle (Q3, CY19 YoY) :

Revenue rose 9.4 % to Rs 3,215.8 crore. Net profit rose 33.5 % to Rs 595.4 crore.

Positive for the stock. 👍

🎯 Bank of Baroda (Q2, YoY) :

Net interest income rose 56.4 % to Rs 7,028 crore. 

Net profit rose 73.2 % to Rs 736.7 crore.

Positive for the stock. 👍 

🎯 Ashok Leyland (Q2, YoY) :

Revenue fell 48.4 % to Rs 3,929.5 crore. Net profit fell 92.6 % to Rs 38.9 crore.

🎯 Tata Power (Q2, YoY) :

Revenue rose 4.4 % to Rs 7,677.8 crore. Net profit fell 19.5 % to Rs 270.2 crore.

🎯 NTPC (Q2, YoY) :

Revenue rose 2.3 % to Rs 22,764.6 crore. Net profit rose 34.5 % to Rs 3,262.4 crore.

🎯 Oil India (Q2, QoQ) :

Revenue fell 4.7 % to Rs 3221.1 crore. 

Net profit fell 21.9 % to Rs 661.5 crore.

🎯 Indo Count Industries :

Company said that it has paid Rs.83 crore to the Customs Department and the balance amount will be paid by the company.

🎯 Laurus Labs :

Company said that it has received two observations from U.S. Food and Drug Administration for its FDF & API Integrated Facility, Unit 2 at Visakhapatnam.

🎯 Aurobindo Pharma :

Company clarified on the news of company’s buyout of Sandoz assets being delayed on FTC query is factually incorrect. 

🎯 Lupin :

Company received U.S. FDA approval for company’s Zileulon Extended-Release Tablets to market generic equivalent of Zyflo CR for treatment of asthma.

🎯 Glenmark Pharmaceuticals :

Company receives ANDA approval for Adapalene and Benzoyl Peroxide Gel. 

🎯 TTK Prestige :

Company has completed expansion facilities at its Tamil Nadu and Gujarat facilities for manufacture of stainless-steel pressure cookers/kitchenware and the commercial production has commenced.

🎯 NDTV :

Company received notice from Delhi High Court with regard to a suit for permanent and mandatory injunction, directions and damages instituted by Luv Ranjan claiming damages of Rs 25 crore for defamation.

🎯 Apollo Micro Systems :

Company received order worth Rs 16.9 crore from Ministry of Defense, Government of India.

🎯 Nila Infrastructures :

Company received work order worth Rs 50.3 crore from Ahmedabad Municipal Corporation. 

🎯 NTPC : 

Board has approved merger of wholly owned arm Kanti Bijlee Utpadan Nigam and Nabinagar Power Generating Company with self.

🎯 L&T :

Company has entered into an amended agreement with Canadian Pension Plan Investment Board, where the Board will hold 48.99 % stake in the company’s arm L&T Infrastructure Developments via Compulsorily Convertible Preference Shares. 

🎯 Kesoram Industries : 

The National Company Law Tribunal Kolkata has approved demerger of the Tyre business of the company to a separate company- Birla Tyres with effect

🎯 Zensar Technologies :

Company promoter RPG Ventures acquired 42,000 shares on Nov. 4. 

🎯 Ultratech Cement :

Company promoter group Aditya Marketing & Manufacturing sold 57,000 shares on Nov. 5.

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp. 

8th November, 2019 Morning Brief

Market will open on a flat note today.

Asian stocks advanced and benchmark Japanese bond yields inched toward an exit from negative territory as a risk-on mood permeated global financial markets.

Dow Jones, S&P 500 hit record. U.S. stocks sputtered late in the session Thursday but still managed to close at a record high as traders were whipsawed by conflicting headlines on the progress of trade talks with China.

Indian market rose for the second consecutive day in row to hit a fresh record high on Thursday. The S&P BSE Sensex rose to a record high of 40,688.27 while Nifty50 closed above 12,000 for the first time since June.

On the institutional front FPIs were net buyers in Indian equity markets for Rs 926 cr while DIIs were net sellers to the tune of Rs 635 cr, provisional data.

SEBI permits segregated portfolio of debt market instruments. 

🎯 News & Impact 🎯

Major Results Today :

Eicher Motors, GAIL, M & M, Nestlé

MSCI India Index change w.e.f November 26. 

MSCI India Index additions: Berger Paints, DLF, HDFC AMC, ICICI Pru, IGL, Info Edge, SBI Life, Siemens India

MSCI India Index deletions: BHEL, Glenmark, Indiabulls Housing, L&T Finance, Vodafone Idea, YES BANK

Results Updates :

🎯 BPCL (Q2, QoQ) :

Revenue fell 15.7 % to Rs 64,340.7 crore.

Net profit rose 58.9 % to Rs 1,708.5 crore.

🎯 Power Grid Corporation (Q2, YoY) :

Revenue rose 4.8 % to Rs 8,685 crore.

Net profit rose 9.4 % to Rs 2,527.4 crore.

🎯 Indraprastha Gas (Q2, YoY) :

Revenue rose 19.4 % to Rs 1692 crore.

Net profit rose 2 times to Rs 381 crore.

🎯 DLF (Q2, YoY) :

Revenue fell 19.8 % to Rs 1,715.5 crore.

Net profit rose 19.1 % to Rs 445.9 crore.

🎯 GlaxoSmithKline Consumer Healthcare (Q2, YoY)

Revenue rose 5.7 % to Rs 1,345.1 crore.

Net profit rose 25.3 % to Rs 345.3 crore.

🎯 Infosys :

Company opens new digital innovation centre in Dusseldorf. 

🎯 Reliance :

Company subsidiary acquired further shares in SkyTran Inc. to increase its shareholding in SkyTran Inc. to 17.37% on a fully diluted basis. 

🎯 Raymond :

Company spun off its branded lifestyle business into a separate entity as part of a restructuring plan. The company’s lifestyle business, which comprises branded textiles, branded apparel and garments, would be separately listed on the bourses after the demerger. Board approved issuing 33.4 lakh shares worth Rs 225 crore to promoter via preferential allotment.

🎯 Elantas Beck :

Company said that it is continuing with normal production operations and is also complying with temporary revocation order issued by Gujarat Pollution Control Board for company’s plant in Bharuch.

🎯 Sudarshan Chemical :

Company has incorporated an arm in Japan to sell colour pigments.

🎯 GTPL Hathway :

Company acquirs balance 49% shares in f GTPL Video Vision and GTPL Shivshakti Network. 

🎯 Reliance Home Finance :

NHB has imposed a penalty of Rs 45,000 crore on the company for contravention of NHB Directions.

Negative for the stock. 

🎯 Future Retail :

Company stated that promoters hold 47.02 % stake, out of which 72.65 % stake in encumbered.

Negative for the stock.

🎯 LG Balakrishnan :

Company promoter and director Rajvirdhan sold 41,000 shares on Nov. 5

Cyient promoters acquired 20,000 shares on Nov. 7. 

🎯 Ultratech Cement :

Company promoter Aditya Marketing & Manufacturing sold 2.7 lakh shares on Nov. 4. 

🎯 Uniply Industries :

Company promoters sold 2.1 lakh shares from Aug.t 22-Sept. 27

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp. 

7th November, 2019 Morning Brief

Market will open with a gap up on the positive sentiments.

Stocks in Asia were mixed Thursday after reports that the signing of a partial U.S.-China trade deal may be delayed until next month.

U.S. stocks drifted after reports that any signing of a partial trade deal with China won’t happen until at least December, deflating early-session gains.

🎯 News & Impact 🎯 

Major Results Today :

BPCL, HPCL, Power Grid, Sun Pharma, UPL, DLF

Results Updates :

🎯 Tata Steel (Q2, YoY) :

Revenue fell 15.4 % to Rs 34,579.2 crore. Net profit rose 15.9 % to Rs 41,44.7 crore.

🎯 Indiabulls Housing Finance (Q2, YoY) :

Net interest income fell 26.3 % to Rs 1252.38 crore. 

Net profit fell 32 % to Rs 709.52 crore.

🎯 Voltas (Q2, YoY) :

Revenue flat to Rs 1,421.9 crore. 

Net profit rose 2.8 % to Rs 106.4 crore.

🎯 Fortis Healthcare (Q2, YoY) :

Revenue rose 6.3 % to Rs 1,212.2 crore. Net profit at Rs 111 crore versus net loss of Rs 166.7 crore.

🎯 Manappuram Finance (Q2, YoY) :

Net interest income rose 21.6 % to Rs 819.6 crore. 

Net profit rose 81.9 % to Rs 404.1 crore.

🎯 Housing Developer & Finance :

Union Cabinet has approved setting up a dedicated fund for funding affordable and middle-income housing projects that are stalled.SBI Cap will manage the real estate AIF initially through an escrow account.

Positive for the stocks. 👍 

🎯 Yes Bank : 

Moody's Investors Service has placed the Bank’s foreign currency issuer rating of ‘Ba3’ under review for downgrade.

Negative for the stock. 

🎯 GSK Consumer Healthcare and Hindustan Unilever Ltd. :

The National Company Law Tribunal Mumbai has approved merger of GSK Consumer Healthcare and Hindustan Unilever Ltd.

🎯 Adani Group : 

Bombay High Court has denied interim relief to Adani Group in the Mumbai Airport stake sale dispute.

🎯 Power Transmission Stocks : 

India’s electricity distribution utilities will gain from more shorter-term purchase contracts, PK Pujari, Chairperson at the Central Electricity Regulatory Commission said. 

🎯 Thomas Cook : 

The NCLT Mumbai sanctioned the amalgamation amongst TC Forex Services, TC Travel Services, SOTC,  Travel Corporation, Quess Corp Limited and the company and their respective shareholders.

🎯 Zee Entertainment Enterprises : 

GIC increases stake from 4.94 % to 5.28 % on Nov. 4. 

🎯 Max Financial Services :

Mitsui Sumitomo Insurance and Max Life Insurance have mutually agreed to terminate the deal plan and the company will continue the existing JV arrangement with Max Life Insurance.

🎯 Prakash Industries :

Company has emerged the highest bidder for Bhaskarpara Coal Mine in Chhattisgarh.

🎯 Philips Carbon Black :

Company said that’s its Netherland arm has been liquidated in accordance with local laws of Netherlands.

🎯 MSTC : 

Larsen & Toubro has appointed the company as the selling agent for sale of scrap articles.

🎯 Zensar Technologies :

Company promoter group RPG Ventures acquired 42,000 shares on Nov. 4. 

🎯 Mold-Tek Packaging :

Company promoters sold 70,000 shares from Oct. 30-Nov. 5. 

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp. 

6th November, 2019 Morning Brief

Market will open on a negative note today in line with global markets witnessing lack of confidence. 

Stocks in Asia traded mixed as investors weighed signs of improvement in a gauge of the American services sector against conflicting news flow on the U.S.-China trade discussions.

U.S. equities hovered near record highs on Tuesday before closing mostly lower as investors digested the latest earnings and economic data while awaiting more news about trade talks between America and China.

Major Results Today :

Dr Reddy, Yesbank

Results Updates :

🎯 Titan (Q2, YoY) :

Revenue rose 0.7 % to Rs 4,435 crore.

Net profit rose 1.9 % at Rs 320 crore.

🎯 Tech Mahindra (Q2, QoQ) :

Revenue rose 4.8 % to Rs 9,069.9 crore.

Net profit rose 17.2 % to Rs 1,123.9 crore.

🎯 Gujarat Gas (Q2, YoY) :

Revenue rose 27.9 % to Rs 2,513 crore.

Net profit rose 12 times to Rs 517.3 crore.

Positive for the stock. 👍 

5th November, 2019 Morning Brief

Market will open on a positive note today.

Asian stocks and U.S. futures gained on Tuesday after further records were reached on Wall Street, spurred by signs that the U.S. and China are inching toward a trade deal.

U.S. stock benchmarks climbed to all-time highs, while Treasuries tumbled as trade optimism fuelled demand for risk assets.

🎯 News & Impact 🎯 

Major Results Today :

Tech Mahindra, Titan

Results Updates :

🎯 Bharat Electronics (Q2, YoY) :   Revenue fell 19 % to Rs 2,748.3 crore.Net profit fell 40.9 percent to Rs 343.9 crore.

🎯 Sudarshan Chemical (Q2, YoY) : Revenue rose 10.3 % to Rs 400.3 crore.Net profit rose 87.8 % to Rs 46.2 crore. Positive for the stock. 👍 

🎯 Yes Bank :                                       Rakesh Jhunjhunwala buys 0.5% stake in bank for Rs 86.89 crore. 

🎯 SRF :                                                  Board approved capex of Rs 40 crore to expand the capacity for production of a high-volume specialty product that finds application in agro, pharma and other specialty industries.

🎯 Tata Steel :                                Company’s arm to sell its entire stake of 56.5 percent in a Vietnamese based NatSteel Vina for Rs 36 crore to Thai Hung Trading.

🎯 SMS Lifesciences :                   Company said that they are confident of manufacturing Ranitidine HCL well within the new limits set by the U.S. Food and Drug Administration.

🎯 Sical Logistics :                                   RBL Bank has invoked pledge of 1.65 lakh shares held by the company in its arm Sical Logixpress provided as security for the financial facilities for the arm.   Positive for the stock. 👍

🎯 Tata Power :                               Company as created a new arm to set up 10,000 Microgrids in India by 2026. TP Renewable Microgrid will be setup in collaboration with Rockefeller Foundation.

🎯 Emami :                                     Promoters hold 52.74 % stake in the company, out of which 66.55 % of their stake is pledged.

🎯 Torrent Pharma :                        Company clarified that promoters have not pledged any equity shares they hold in the company for any purpose.

🎯 SMS Lifesciences :    Company confident of manufacturing Ranitidine HCL well within the new limits set by the USFDA. 

🎯 V2 Retail :                                    Company promoter Ricon Commodities acquired 2.3 lakh shares on October 31.

✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒ ✒

Edited by Sharp. 

9th October, 2019 Morning Brief

Market will open on a flat note today after a sell-off witnessed late afternoon day before yesterday.

4th November, 2019 Morning Brief

Market will open on a positive note today.

Stocks edged higher in Asia and American equity futures advanced amid optimism China and the U.S. are moving closer to an interim trade deal.

🎯 News & Impact 🎯 

Major Results Today :

HDFC

Results Updates :

🎯 Yes Bank (Q2, YoY) :

Net Interest Income down 9.6 % at Rs 2,185.91 crore. 

Net loss at Rs 600.08 crore versus net profit at Rs.964.70 crore. 

Negative for the stock. 

🎯 JK Lakshmi Cement (Q2, YoY) :

Revenue up 9.8 % at Rs 935.5 crore. 

Net profit up 5 times at Rs 45.9 crore Ebitda up 62.3 % at Rs 148.6 crore. 

Positive for the stock. 👍 

🎯 Central Bank of India (Q2, YoY) :

Net Interest Income up 12.9 % at Rs 1,891 crore. 

Net profit at Rs 134.1 crore versus net loss at Rs.923.6 crore. 

Positive for the stock. 👍 

🎯 Reliance Capital :

Company has defaulted in payment of NCD obligations which were due on Oct. 31. 

🎯 Alkem Laboratories :

Company said that U.S. FDA has closed its inspection at its manufacturing facility in Daman and Baddi. The regulator has issued an EIR for both plants in the month of August when the inspection took place.

🎯 Coal India : 

Coal production in October down 20.9 % at 39.35 million tons versus 49.78 million tons. Coal offtake down 18.9 % at 40.5 million tons versus 49.96 million tons.

🎯 Berger Paints :

Company to increase its stake from 91.94 % to 95.53 % in STP Ltd. The target company has become the subsidiary of Berger Paints with effect from Nov. 1.

🎯 3i Infotech : 

Board approved sale of 74 % stake in company’s arm Locuz Enterprise Solutionz for Rs 23 crore.

Positive for the stock. 👍 

🎯 MOIL :

Company has reduced prices of all grades of manganese ore (37 % and above) by 20 % on existing prices for manganese ore (less than 37 percent) by 25 % on the current prices prevailing since Oct. 1.

🎯 Godrej Agrovet : 

Amalgamation of company’s two arms Creamline Dairy Products and Nagavalli Milkline has become effective on Oct. 31. 

🎯 Seamec :

Company said that subject contract for second season has commenced from Oct. 31 with mobilization of Barge Glorious.

🎯 Indiabulls Real Estate : 

Update on divestmet of London Property - Company’s wholly owned subsidiary has divested it entire stake in Century Limited to Clivedale Overseas Limited, an entity owned by the Promoters of the Company.

🎯 Cochin Shipyard :

Company acquired 57,20,000 shares or 26 percent equity of Hooghly Cochin Shipyard Ltd., an unlisted subsidiary of CSL. 

🎯 SpiceJet : 

Ajay Singh, promoter and chairman of the company, has pledged around 2.78 % stake for securing a credit facility for the budget airline.

🎯 IRB : 

NHAI terminates the Concession Agreements of IRB PP Project Private Limited and IRB PS Highway Pvt. Ltd. with effect from May 15, 2019 as per clause 4.5 of respective concession agreements.

🎯 BPCL :

Company promoter Government of India sold 69.12 lakh shares on Oct. 10.

🎯 Hatsun Agro Product :

Company promoter and director RG Chandramogan acquired 63k shares on Oct. 31