6th December, 2019 Morning Brief

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

Asian stocks saw modest gains Friday as traders awaited news on the U.S. job market and a looming scheduled American tariff hike on Chinese goods.

U.S. stocks advanced as investors speculated the Trump administration won’t move forward with a tariff hike on Chinese goods scheduled for Dec. 15. Bonds and the dollar fell.

The Nifty opened higher on the hope of a rate cut but gave up all gains at noon amid volatility as the Monetary Policy Committee left rates unchanged, citing rising inflation and growth worries.

🎯 News & Impact 🎯 

🎯 Strides Pharma :

Company gets USFDA nod for Diclofenac Potassium Capsules (25 mg). 

🎯 Andhra Bank :

RBI imposes penalty of Rs 25 lakh. 

🎯 Gati :

Company said in a media statement that Japan’s Kintetsu Group continues to remain invested in a joint venutre with the company.

🎯 Mahindra & Mahindra :

Company acquired 36.63 % stake in Meru for Rs 44.71 crore.

🎯 Welspun Group : 

Promoters acquired majority stake in warehousing platform.

🎯 Nirlon :

Company signed long-term leave and license agreement with JPMorgan who will take up 1.15 million square feet of office space and this is expected to be delivered by the second quarter of 2021.

🎯 Sadbhav Infra :

Company Projects’ arm has canceled concession agreement with NHAI due to non-availability of required 80 percent of right of way by NHAI within stipulated time period.

🎯 Narayana Hrudayalaya :

Company to discontinue its hospital project in Kenya due to the inability to fund the project by a financial institution partner.

🎯 Greaves Cotton :

Company completed the acquisition of Ampere Vehicles.

🎯 Electrosteel Castings :

Company promoter Malay Commercial acquired 8 lakh shares from Dec. 2-3.

Positive for the stock. 👍 

🎯 Vakrangee :

Company promoter Dinesh Nandwana acquired 10 lakh shares on Dec. 5.

Positive for the stock. 👍 

🎯 Filatex India :

Company promoter Nouvelle Securities acquired 1 lakh shares on Dec. 3.

Positive for the stock. 👍 

🎯 KRBL :

Company promoters acquired 65,000 shares from Dec. 3-4.

Positive for the stock. 👍

🎯 Small finance banks will be given scheduled bank status upon commencement of operations.

Positive for the sector. 👍

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Edited by Sharp.