9th December, 2019 Morning Brief

Market will open on a flat note today. 

On the back of rising optimism over trade deal and strong jobs report, all three major US stock indexes gained around a percent each on Friday.

Globally, the focus will remain on US-China trade deal and the Fed meet. The market is expecting the first phase deal between US-China to be signed in December especially before December 15 deadline when the tariffs on $156 billion in Chinese imports is set to take effect.

The last policy meeting of Federal Open Market Committee this year will be held on December 10-11. Experts largely expect the US central bank to keep interest rate unchanged after three rate cuts this year and could turn more hawkish.

Federal Reserve recently hinted about steady interest rate due to the moderate pace of economic growth and low inflation in the US.

The second national election in less than three years will be conducted in the United Kingdom on December 12. It is the most important event as it will decide the path for Britain's exit from the European Union.

Asian stocks kicked off the week with modest gains after U.S. equities rallied Friday on better-than-expected jobs data.

On the domestic front, Industrial production data for the month of October and CPI inflation for November will be released on December 12.

🎯 News & Impact 🎯 

🎯 Equitas Holdings : 

Equitas Small Finance Bank approved issuance of 4.75 crore shares or 4.51 % equity at Rs 52.68 per share aggregating to Rs 250 crore, by private placement to IIFL Group.

🎯 ITC :

Company has acquired 11.15 % stake in Delectable Technologies.

🎯 MCX : Sanjay Wadhwa has resigned from the post of CFO with immediate effect.

🎯 Axis Bank : 

After over four years, the lender’s Chief Financial Officer Jairam Sridharan has tendered his resignation and will vacate the position after serving a three-month notice period.

🎯 Mangalore Chemicals & Fertilisers : Vistra ITCL (Trustee for Zuari Agro Chemicals) increased its pledge from 41.55 % to 50.55 % in the company on Dec. 6.

Negative for the stock. 

🎯 Pokarna :

Company said that U.S. Department of Commerce has preliminarily determined anti-dumping duty of 2.62 percent on quarts surface products from company’s arm shipped to the U.S. company will take legal steps and said that it has not been engaged in dumping of quartz products in the U.S.

🎯 KNR Construction :

Company received work order of Rs 165.7 crore from Hyderabad Municipal Corporation. 

KNR Constructions has signed a concession agreement of HAM project with a bid cost of Rs 920 crore with NHAI.

🎯 NTPC :

Company has signed term loan of Rs 5,000 crore with SBI, according to PTI report.

🎯 Maharashtra Seamless :

Company secures prestigious ONGC orders. 

Positive for the stock. 👍 

🎯 Dilip Buildcon received a completion certificate for EPC Project worth Rs 346.5 crore in Punjab.

🎯 Bharti Telecom :

Company seeks Rs 4,900 cr FDI nod; infusion to make Airtel foreign firm. 

🎯 NBCC :

Company received government order worth Rs 621 crore in New Delhi where the company will work a project management consultant.

🎯 Zensar Technologies :

The company partnered with Education Africa to support students of business management.

🎯 Allahabad Bank : 

Board approved raising Tier 2 capital of the Bank by raising bonds up to Rs 1,500 crore.

🎯 Welspun Corp : 

In last one month, company has been awarded contracts for supply of 179 KMT of pipes for multiple projects on a global basis of which 161 KMT will be serviced from USA facility. The company’s order book stands at 1,459 KMT valued at approximately Rs 12,100 crore.

🎯 Alembic :

Company promoter Nirayu acquired 35,000 shares on Dec. 4

🎯 Nava Bharat Ventures :

Company promoter Ashwin Devineni acquired 1.3 lakh shares on Dec. 4

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Edited by Sharp.