Asian markets witness a cautious trade.
Before the market opens, know about the many factors that can have an influence on share prices and on the general trading climate in the stock markets.
The important and interesting developments around the world, happenings in the global markets, sentiments, and the overall news related to a stock or a company are
some of the key indicators that you need to consider before investing in the stock market.
Also, the views of brokerages on select stocks and buy/hold/sell recommendations with target prices play a significant role in determining how the markets are going
to perform.
Let’s know in detail the factors that could affect the stock markets today.
Global Cues:
Important business updates and stocks in news:
JSW Steel: It has received Letter of Intent dated Feb 11 from Bhushan Power & Steel CoC. The company has accepted the letter of intent. Closure of transaction will be subjected to necessary approvals from NCLT.
Yes Bank: The bank has received RBI’s compliance assessment report for 2017-18. RBI has found no divergences in asset classification & provisioning.
DHFL: Harshil Mehta has resigned from the post of whole-time director (designated as Jt. MD & CEO) effective from Feb 13. He will continue to be the executive president of the retail business Feb 14 onward.
Tata Steel: According to sources, Tata Steel UK CEO Bimlendra Jha has resigned from the post. Ashish Anupam of NatSteel Holdings will be looking after the business.
HPCL: As per the sources, Bombay HC has set aside an arbitration award of more than Rs 800cr owed by Malaysia's M3nergy.
ABB India: The board has approved segregation of company’s power grid business from the company’s other businesses. The board is determined that a court-approved demerger is the preferred option. Board authorised management of the company will take preparatory steps in this regard.
Apollo Hospital: Sources confirm that founders may sell stake in insurance JV with Munich Re. Reddy family is planning to sell 41% stake for Rs 1200cr to repay debt. Apollo hospitals owns about 10% of the joint venture. Funds will be used to repay debt raised by pledging Apollo's equity as collateral. 4 firms have shown interest in acquiring Apollo's stake in JV. Munich Re is also said to be planning a stake sale in the venture. The German firm is said to be in talks with HDFC Ergo General Insurance. Apollo Munich's gross written premiums were at Rs 1720cr in year to March 2018.
PSP Projects: The company has emerged as the lowest bidder for two construction projects in Rajasthan and Gujarat. Cumulative contract value of the projects is Rs415.2cr. Credit Access Grameen: It completed a Direct Assignment of Rs275.28cr. It has completed 6 securitization & 4 Direct Assignment transactions totaling Rs1573.2cr in FY19.
Pidilite Industries: The Company’s global arm set up a JV in Kenya with Crown Classic. The arm will hold 55% of the stake in the JV, while the remaining stake will be held by Crown Classics.
Tata Power: The company has set up a 10MW energy storage system in Delhi. System set up is in collaboration with AES and Mitsubishi Corporation. The System will provide better peak load management and system flexibility.
IndusInd Bank: The board has approved establishing of euro medium term notes program for $1 billion. This program will provide bank access to foreign currency funds. It will be listed on the Singapore Stock Exchange. The board has also stated that it will raise up to Rs3000cr via debentures. The bank will also participate in the rebidding process for IL&FS Securities.
Sugar Stocks In Focus : According to sources, Minimum Selling Price of Sugar is likely to be hiked to Rs 30-32/Kg Soon. Minimum Selling Price for sugar currently is at Rs 29/Kg. EFC is likely to ask banks to fast-track loan disbursal to sugar mills and to process pending applications, offer credit. Govt will also expedite additional loan for expanding ethanol capacity to sugar mills.
Ludlow Jute & Specialities, Cheviot: The cabinet has approved raising MSP for raw jute by Rs 250/quintal (6.75%) to Rs 3,950/quintal for 2019-20.
Jet Airways: The Board meet will be held Today. According to sources, Jet Air poised to get Rs 600 Cr emergency loan. Emergency Loan will help Jet Airways tide over a cash crunch. SBI led consortium plan to provide emergency loan against shares pledged by Naresh Goyal.
Indigo: It has cancelled 49 flights on Feb 13. It will cancel 30 flights a day for rest of February. It will continue curtailing flights until end of March.
Tata Trusts: Managing Trustee R Venkataramanan has seeked to be relieved from his duties. He will relinquish his responsibilities on March 31, 2019. A committee has been formed to oversee ops & to select a new Chief Executive. Committee will comprise of Ratan Tata, Vijay Singh & Venu Srinivasan. Trustees appointed Noel N Tata & Jehangir H as trustees of Ratan Tata Trust.
BoB/SBI/Corporation Bank/Union Bank: RBI has imposed monetary policy on BoB, SBI, Corporation Bank, Union Bank. It has imposed monetary penalty of Rs 2 Cr On Corporation Bank. It has imposed penalty of Rs 1 Cr, each on SBI, Union Bank, Bank Of Baroda. Penalty is based on deficiencies in regulatory compliance.
Fortis Healthcare: It has appointed Vivek Kumar Goyal as CFO. The effective date of appointment shall be on or before May 1. Dr Ashutosh Raghuvanshi will become CEO of the company with effect from March 18.
Brokerages:
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