TODAY NEWS 14.09.2019
*Reliance Nippon Life* has clarified that it has not given consent for any transaction relating to Yes Bank's pledged shares - Avoid Yes Bank, highly volatile
*IDBI Bank* says LIC approved infusing Rs47.4bn capital via shares - News is positive on IDBI Bank but poor asset quality is a concern - Avoid
*L&T Finance* to approve fund raising issue price on Sept 17 up to Rs150cr via debenture - We are long term positive on L&T Finance
Dishman Carbogen gets approval from India drug controller for TB drug Bedaquiline Fumarate - Positive for Dishman Carbogen - stock gained 6% after the news
*Dewan Housing* defaults on Rs197cr for NCD principal, interest - Avoid any bargain hunting on Dewan Housing.
*Srei Infra - Rating agency Brickworks Ratings downgraded the company’s instruments worth Rs 5,327c. NCD downgraded to ‘BWR A+’ from ‘BWR AA’, with outlook remaining negative – Negative for SREI Infra - Avoid.*
*Zee Media* Corp CFO Sumit Kapoor resigns - Avoid on Zee Media
Dividends – Godfrey Philips, Himatsinghka Seide, Board Meetings – Andhra Bank and Canara Bank. AGM - KRBL
Market may recovers ahead of stimulus …
Market is trading flat with a narrow range. However, short covering may not be ruled out in later part of the day of hope of government stimulus. Market expectation that the government may announced stimulus to boost growth in economy. Globally, China cut CRR few days before, Russia has also cut interest rate. Yesterday, Turkey and ECB cut interest rate. ECB announced 20 billion euros ($22 billion) of bonds buying a month. US Fed meeting will be held on 17-18 September. Market expectation of US Fed to cut interest rate by 25bps. India RBI meeting will be held on 4TH October and hope of further rate cut after August Inflation at 3.21%.
*Reliance Nippon Life* has clarified that it has not given consent for any transaction relating to Yes Bank's pledged shares - Avoid Yes Bank, highly volatile
*IDBI Bank* says LIC approved infusing Rs47.4bn capital via shares - News is positive on IDBI Bank but poor asset quality is a concern - Avoid
*L&T Finance* to approve fund raising issue price on Sept 17 up to Rs150cr via debenture - We are long term positive on L&T Finance
Dishman Carbogen gets approval from India drug controller for TB drug Bedaquiline Fumarate - Positive for Dishman Carbogen - stock gained 6% after the news
*Dewan Housing* defaults on Rs197cr for NCD principal, interest - Avoid any bargain hunting on Dewan Housing.
*Srei Infra - Rating agency Brickworks Ratings downgraded the company’s instruments worth Rs 5,327c. NCD downgraded to ‘BWR A+’ from ‘BWR AA’, with outlook remaining negative – Negative for SREI Infra - Avoid.*
*Zee Media* Corp CFO Sumit Kapoor resigns - Avoid on Zee Media
Dividends – Godfrey Philips, Himatsinghka Seide, Board Meetings – Andhra Bank and Canara Bank. AGM - KRBL
Market may recovers ahead of stimulus …
Market is trading flat with a narrow range. However, short covering may not be ruled out in later part of the day of hope of government stimulus. Market expectation that the government may announced stimulus to boost growth in economy. Globally, China cut CRR few days before, Russia has also cut interest rate. Yesterday, Turkey and ECB cut interest rate. ECB announced 20 billion euros ($22 billion) of bonds buying a month. US Fed meeting will be held on 17-18 September. Market expectation of US Fed to cut interest rate by 25bps. India RBI meeting will be held on 4TH October and hope of further rate cut after August Inflation at 3.21%.
Thanks for this beneficial information. every trader and investor wants to read these types of blogs. Keep posting about Indian stock market.
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