19th December, 2019 Morning Brief

Market will open on a negative side today after a record highs made yesterday.

Asian stocks drifted at the open as investors sit on the sidelines with little in the way of fresh catalysts after the year’s big run-up.

U.S. stocks recorded just before the closing bell as investors digested a flurry of corporate news and Congress debated the impeachment of Donald Trump.

🎯 News & Impact 🎯 

🎯 Tata Group Stocks :

Tata Sons stated in a statement that it has received and is analysing the order of National Company Law Appellate Tribunal. The parent company of Tata Group said that is not clear as to how the NCLAT order seeks to over-rule the decisions taken by shareholders of Tata Sons and listed Tata operating companies at validly constituted shareholder meetings.

🎯 NMDC :

Company has received approval for modified mining plan of Kumaraswamy Iron Mines from 7 million tonne per annum to 10 MTPA from India Bureau of Mines.

🎯 Ruchi Soya :

Patanjali Ayurved has completed its acquisition of Ruchi Soya Industries under the Insolvency and Bankruptcy Code. 

🎯 Goa Carbon :

Company will commence operations at Paradeep Unit. 

🎯 Peninsula Land : 

The company acquired a further 21 percent of equity shares of Pavurotti Real Estate Private Limited, one of its subsidiaries.

🎯 PNB : 

The British subsidiary of Punjab National Bank (PNB) has lost its UK High Court appeal in a $45-million deceit claim against seven individuals and two companies, based in India and the US.

🎯 Texmaco Rail & Engineering : 

NCLAT has given a stay order on NCLT Kolkata’s order.

🎯 Delta Corp : 

Government to levy 28 % Goods and Services Tax on state-run and private lottery from March 1.

Negative for the stock. 

🎯 ICICI Bank : 

The Reserve Bank of India told the Bombay High Court that its decision to grant approval to the Bank for termination of appointment of Chanda Kochhar as managing director and chief executive officer was fair and not arbitrary. 

🎯 Lemon Tree Hotels :

Company signed a license agreement for a 44-room Hotel. 

🎯 NBCC :

Company secured business worth Rs 8,861.05 crore for the month of November.

🎯 Embassy Parks REIT : Allianz-Shapoorji Pallonji collaboration acquires 100 percent stake in TSI Business Parks which owns WaveRock, as SEZ development in Hyderabad at a valuation of $250 million, according to its media statement.

🎯 South Indian Bank :

Company said that Base Rate will be reduced by five basis points to 9.95 % and MCLR will also be reduced across various tenors with effect from Dec. 20.

🎯 Sequent Scientific : 

Kotak Mahindra Investments increased their stake from 3.61 % to 6.42 % in the company on Dec. 16.

Positive for the stock. 👍 

🎯 Electrosteel Castings :

Company promoter group Electrocast Sales acquired 2.25 lakh shares from Dec. 13-16.

Positive for the stock. 👍 

🎯 Filatex India :

Company promoters acquired 2.5 lakh shares from Dec. 13-16.

Positive for the stock. 👍 

🎯 NIIT :

Company promoters increased their stake from 31.39 percent to 34.35 percent via tendering of share-buyback on Dec. 16.

Positive for the stock. 👍 

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Edited by Sharp.