18th February, 2020 Morning Brief

Market will open on a negative side today.

U.S. futures and stocks in Asia fell after Apple Inc. said quarterly sales would miss forecasts, illustrating the blow to corporate earnings and economic growth from the deadly coronavirus.

🎯 Huhtamaki PPL (Q4 CY, YoY) :  Revenue rose 9.8 % to Rs 673.2 crore.    Net profit rose 3.8 times to Rs 68.2 crore.

🎯 Reliance Industries :                        TV18 Broadcast, Hathway Cable & Datacom and Den Networks will be merged into Network18 Media & Investments according to an exchange filing.                                                              🎯 Vodafone Idea :                                   The company decided to pay to the Department of Telecom a portion of the dues calculated based on AGR aggregating to a sum of Rs 2,500 crores on Feb. 17 and a further Rs 1,000 crore before the end of the week. 

🎯 Tata Teleservices and Tata Teleservices (Maharashtra) Ltd. :  Company made a payment of Rs 2,197 crore to the Department of Telecom towards license fees and spectrum usage charges.

🎯 JSW Energy :                                Company has signed a share purchase agreement to acquire a 100 percent stake in GMR Kamalaganga Energy for an enterprise value of Rs 5,321 crore.

🎯 JSW Steel :                                  Company declared preferred bidder for three Odisha iron ore mines, whose combined iron ore resources stand at 1,092 million tonnes.

🎯 Finolex Industries :                    Company said that due to force majeure declared by company’s major vinyl chloride monomer supplier during March 2020, the operations of the company with respect to its VCM to polyvinyl chloride route will be affected for 30 to 35 days. This would result in a shortage of PVC production of approximately 15,000 MT.

🎯 KPI Global Infra :                        Company received a letter of intent for an order to execute a solar power project of 900 KW capacity from JPB Fibers.

🎯 KPI Global :                                Company bags order for executing solar power project of 900KW capacity from JPB Fibers, Surat.

🎯 Orissa Minerals :                          Belkundi Iron & Manganese Mine gets the nod for iron ore production and Manganese Ore enhancement in Odisha.

🎯 HCL Technologies :                      Fonterra Co-operative selects company for IT Infrastructure Transformation

🎯 Persistent Systems :                  Company promoter Rama-Purushottam Foundation sold 25,000 shares on Feb. 13-14. 

🎯 Godrej Agrovet :                        Company promoter Godrej Industries acquired 16.1 lakh shares on Feb. 14.

Positive for the stock. 👍 

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Edited by Sharp.