Thursday, 17 September 2020

18th September, 2020 Morning Brief

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

Asian markets have opened slightly higher on Friday, on course to post its first weekly gain for the month of September.

US stocks fell on Thursday as technology-related shares slid for a second day and as government data showed high levels of weekly jobless claims. 

The Dow Jones Industrial Average fell 130.4 points, or 0.47%, to 27,901.98, the S&P 500 lost 28.48 points, or 0.84%, to 3,357.01 and the Nasdaq Composite dropped 140.19 points, or 1.27%, to 10,910.28.

UK outlook :

Bank of England says economic outlook 'unusually uncertain' for the economy in light of the recent spike in coronavirus infections and questions over the trading relationship with the EU from the start of next year.

Oil eases as US production returns after storm.

Japan’s core consumer prices fell at their fastest pace in almost four years in August, underscoring deflation risks and difficulties in restoring growth.

🎯 Dr Reddy's Laboratories : Announces settlement of litigation with Celgene, relating to Revlimid capsules. Celgene has agreed to provide DRL with the license to sell volume-limited amount of the capsule in the U.S. starting March 2022. Positive for the stock. 👍 

🎯 TVS Motor : Announced their new distribution partnership with Autotecnica Colombiana SAS - a motorcycle assembler in Colombia. This entity will operate 50 dealerships exclusive to TVS Motor and create dedicated space for the brand in over 600 retail outlets.

🎯 Sterling and Wilson Solar : Signed a 106.71 MW solar power project worth Rs 462 crore in Chile. Positive for the stock. 👍 

🎯 Hindalco : The company and Hindustan Copper signed MoU for supply of copper concentrate. 

🎯 Essel Propack : Bloomberg News reports that the company's promoter Blackstone Group's entity - Epsilon Bico is planning to sell up to 7.26 crore shares or 23% of the total outstanding capital. Negative for the stock. 

🎯 IRCTC : Bloomberg News reports that the government will levy user fee at some railways stations. 

🎯 Elantas Beck : Signs a Memorandum of Understanding with Talegaon Industrial Parks for acquisition of land situated at Pune for setting up a new greenfield manufacturing facility.

🎯 Mindtree : Promoter Subroto Bagchi sold 2.65 lakh shares between September 14-15. Negative for the stock. 

🎯 Trident : Promoter Trident Capital acquired 11 lakh shares on September 16. Positive for the stock. 👍 

🎯 Aarti Industries : Promoters sold 48,000 shares between September 14-15. Negative for the stock. 

🎯 Somany Home Innovation : Promoter Somany Impressa acquired 2.41 lakh shares between September 15-16. Positive for the stock. 👍 

🎯 Ashapura Minechem : Promoter entity Ashapura Industrial Finance acquired 25,000 equity shares in company. Positive for the stock. 👍  

🎯 United Polyfab Gujarat : Promoter entities Vinodkumar Mangalchand Mittal, Urmila Nirmal Mittal, Radha Vinodkumar Mittal, Nirmalkumar Mangalchand Mittal, Kusumdevi Sureshkumar Mittal, Kamaladevi Anilkumar Mittal, Anilkumar Mangalchand Mittal and Sureshkumar Mittal acquired 51,000 shares each at Rs 12.85 per share. Positive for the stock. 👍 

🎯 JSPL : Promoter OPJ Trading released pledge of 24.4 lakh shares on September 14. Positive for the stock. 👍 

🎯 Apollo Hospitals : Promoter PCR Investments revoked pledge of 10 lakh shares on September 11. Positive for the stock. 👍 

🎯 Asian Paints : Promoter Sattiva Holding and Trading created pledge of 18.71 lakh shares on September 15. Negative for the stock. 

🎯 Future Consumer : Promoter Future Capital Investment invoked pledge of 36.6 lakh shares on September 15. Positive for the stock. 👍 
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Edited by Sharp. 

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