11th December, 2019 Morning Brief

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

Asian stocks were off to another muted open as investors debated whether China and the Trump administration will reach a meaningful trade deal ahead of the looming tariff deadline.

U.S. stocks fell for a second day as investors pulled back ahead of the Federal Reserve rate decision, U.K. election and Sunday’s tariff deadline.

🎯 News & Impact 🎯

🎯 Yes Bank :

Bank’s board said that it’s willing to favourably consider the $500 million offer from Citax Holdings and Citax Investment Group.

🎯 Reliance :

ADNOC and Reliance Industries signed an agreement to explore the development of ethylene dichloride facility in Ruwais. ADNOC would supply ethylene to the potential joint venture and provide access to world-class infrastructure at Ruwais, while Reliance will deliver operational expertise and entry to the large and growing Indian vinyls market, in which it is a key participant.

🎯 Wipro : 

Ministry of Technology and Communications, Oman and Wipro ink MoU to launch a Center of Excellence for open source.

🎯 IDBI Bank : 

Board gave in-principle approval to sell Bank’s stake in its arm IDBI Capital Market Securities and IDBI Intech to the extent of 49 % to prospective investors and retaining controlling stake.

🎯 Piramal Enterprises : 

Competition Commission of India approved subscription of CCDs of the company by CDPQ. Upon conversion, equity shareholding of CPDQ in Piramal Enterprises will increased from 3.68 percent to 8.99 percent, according to Bloomberg report.

🎯 Future Supply Chain Solutions : 

CCI approved acquisition by Nippon Express for about 22 percent stake in the company.

🎯 KDDL :

Company’s arm Ethos launched two new stores in Jaipur.

🎯 Oil India :

Company keen on taking full control of NRL. 

🎯 Airtel and Dish TV :

Companies agree on structure of DTH merger. 

🎯 Vodafone Idea :

Company begins talks to sell assets to Brookfield, Edelweiss. 

Positive for the stock. 👍 

🎯 CG Power : 

Central Government ordered an investigation by the SFIO into the affairs of the company and its 15 related/ group companies. 

Negative for the stock. 

🎯 Harrisons Malayalam :

Company promoter Rainbow Investments acquired 58,000 shares on Dec. 9.

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Edited by Sharp.