Market Opens :
It is a firm start for the benchmark indices on Monday with Nifty holding above 10,700 mark.
The Sensex is up 38.58 points at 35847.53, while Nifty is up 6.60 points at 10731. About 460 shares have advanced, 395 shares declined, and 52 shares are unchanged.
L&T, Rel Infra, Reliance Capital, Biocon, Tata Steel, Infosys, Vedanta, Dr Reddy's Lab, Tech Mahindra, Wipro, ONGC, are among major gainers, while losers are Yes Bank, Tata Motors, HUL, M&M, UPL and Grasim.
Rupee Opens :
The Indian rupee opened lower at 71.31 per dollar on Monday versus Friday's close 71.22.
Global Markets :
Asian markets trade higher:
Asian share markets firmed on Monday as investors dared to hope for both progress at Sino-US trade talks in Washington this week and more policy stimulus from major central banks.
SGX Nifty:
Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 22 points or 0.20 percent. Nifty futures were trading around 10,776.50-level on the Singaporean Exchange.
Wall Street ends higher:
Wall Street rallied on Friday, with the Dow and the Nasdaq posting their eighth consecutive weekly gains as investors grew hopeful that the United States and China would hammer out an agreement resolving their protracted trade war.
Oil hits 3-month high:
Oil prices rose to their highest levels since November last year on Monday, lifted by OPEC-led supply cuts and US sanctions on Iran and Venezuela.
Domestic Markets :
Here are stocks that are in the news today:
PNC Infratech: Company received an order from PWD for a project worth Rs 186.48 crore.
Glenmark Pharmaceuticals Inc., USA has been granted final approval by the USFDA for Clobetasol Propionate Foam
USFDA concluded two pre approval inspections of Biocon’s manufacturing facilities in Bengaluru
Religare Enterprises: Board approves raising up to Rs 500 crore via NCDs.
Dr Reddy's Labs: Duvvada plant gets a VAI (Voluntary Action Indicated) status from USFDA, receives EIR for Duvvada facility from the regulator.
Tech Mahindra: Board to consider buyback of shares on February 21.
The company has also withdrawn scheme application filed with National Company Law Tribunal for the proposed scheme of Merger by Absorption between subsidiary Tech Mahindra Growth Factories Limited with the company.
Reliance Infra - Brickwork Ratings (BWR) has moved the Bank Loan facilities rating of the Company from BWR C to Issuer not Cooperating; BWR C
Reliance Capital - Brickwork Ratings has revised rating to AA for long-term debt program, market linked debentures and subordinated debt of the company, primarily due to delay in monetising the non-core investments.
Lumax Auto Tech's plastics division secured LOI from one of the OEMs for supply of Integrated plastic parts of Rs125‐140 crore on annual basis
Cochin Shipyard formed JV company in the name of Hooghly Cochin Shipyard with Hooghly Dock & Port Engineers
Yes Bank: RBI letter pulls up bank for February 12 press release claiming nil divergence. RBI said it takes issuance of press release seriously as bank's risk assessment report was confidential and should not have been divulged.
Zee Entertainment to SEBI: No pending information, announcements that may have a bearing on company's operational performance, stock price/volume behaviour. SEBI had asked if the company had made/planned to make any announcement that could have an impact on stock price.
Jaypee Infratech: Two bids placed to acquire the company as the deadline to submit final bids ended on February 15. NBCC & Suraksha Group placed bids to acquire the company, according to CNBC-TV18 sources.
NBCC: Company submitted a resolution plan for Jaypee Infratech.
Jet Airways: Company looking to raise about Rs 4,000 crore through rights issue, according to CNBC-TV18 sources.
GMR Infra: Company appoints Saurabh Chawla as Executive Director - Finance & Strategy.
Axis Bank: SUUTI sold 3 percent stake in the bank via OFS.
Wipro: SEBI exempts the company from share buyback.
HUDCO: Company raises Rs 2,563 crore through issue of bonds.
Coffee Day Enterprises: Tax Department attaches Rs 2 crore worth of promoter shares in the company.
Amtek Auto Q3: Loss at Rs 85.70 crore versus loss Rs 80.21 crore; revenue falls to Rs 261.55 crore versus Rs 313.90 crore YoY.
Reliance Infrastructure: V R Galkar ceases to be Director of the company on completion of his tenure.
Karnataka Bank: Bank introduces 475 days special term deposit scheme.
Analyst or Board Meet/Briefings
TRF: Board meeting is scheduled on February 20 to consider certain matters in relation to the terms and conditions of the issue of NCRPS, including fixation of the issue price for the NCRPS to be offered in the issue.
Infosys: UB Pravin Rao - Chief Operating Officer and Whole-time Director, Jayesh Sanghrajka - Interim CFO and Sandeep Mahindroo - VP, Financial Controller and Head-Investor Relations will participate in the Chasing Growth 2019 Investors’ Conference hosted by Kotak Institutional Equities on February 18 in Mumbai.
IDFC First Bank: Company's official will be meeting Capital Research Global Investors on February 18.
Welspun Enterprises: The meeting of the equity shareholders of the company to be held on March 19, in the matter of the Scheme of Amalgamation of Anjar Road Private Limited with the company and their respective shareholders and creditors.
Shriram City Union Finance: Company's officials will be meeting ICICI Securities on February 18.
IOL Chemicals & Pharmaceuticals: Extra-Ordinary General Meeting (EOGM) to be held on March 13, 2019.
MEP Infrastructure Developers: Earnings Call with analyst(s) is scheduled to be held on February 18 to analyse financial results and company's performance for the third quarter and nine months ended December 31, 2018.
Sterling Biotech: Meeting of the 12th Committee of Creditors of the company is scheduled to be held on February 20.
Birla Precision Technologies: Board meeting is scheduled on February 22 to consider the issue of shares on preferential basis, issue of shares to eligible employees under Employee Stock Option Scheme 2019 and any other business items.
Avanti Feeds: Audio Conference Call for investors will be held on February 19 to discuss the un-audited financial results for the quarter ended December 2018.
Metalyst Forgings: Board meeting was scheduled to be held on February 15. It has been postponed and rescheduled to be held on February 20 to consider the un-audited financial results for the quarter and nine months ended December 2018.
Tata Communications: Company's officials will be attending Kotak Conference on February 18.
Schaeffler India: Management of the company - Dharmesh Arora, Managing Director & CEO and Satish Patel, Director-Finance & CFO will be meeting institutional investors on February 18 to discuss the earnings and results for the quarter and year ended December 2018.
Voltas: Company's officials will be meeting FidelityManagement & Research (FMR), HK and Morgan Stanley on February 18, and will be attending Kotak Securities Conference on February 19.
ITI Limited: Company's officials will be meeting with certain financial/institutional investors on February 18.
Mahindra Logistics: Company's officials will be meeting analysts/investors on February 18, 19 and 20.
Mahindra and Mahindra: Company's officials will be meeting analysts/investors on February 18, 19 and 20.
Eicher Motors: Company's officials will be meeting analysts/investors on February 18 and 19.
Pidilite Industries: Company's officials will be meeting analysts/investors on February 19.
KEC International: Company's officials will be attending Kotak Securities conference on February 19.
Standard Chartered PLC: Meeting of a committee of the board of directors of the company will be held on February 26 for the purpose of approving the release of the company's results for the financial year ended December 2018 and considering the payment of any final dividend for the financial year.
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