Indices witnessed a strong upward momentum throughout the day as across the board
buying pressure weighed in. Nifty settled at 11979.65, up by 271.75 points and for coming session
its key support is at 11850 while on higher side its resistance is at 12050.
for the day:
government’s holding in Power Grid
Corporation of India Limited has reduced from 53.03% to 49.08% on January 2.
Limited to consider FPO issue price on Feb. 6
Financial Services Limited to consider raising capital through bonds on Feb. 6.
· Adani Ports and Special Economic Zone reported a 4% decline in its consolidated net profit to Rs1,352 crore for the third quarter ended December versus Rs1,408.6 crore in the same quarter last year. The revenue during the quarter under review up by 3% to Rs 2,901.95 crore from Rs2,823.91 crore in the year-ago quarter.
· Bajaj Electricals Limited has declared its results for the third quarter ended December 31, 2019. The net profit of the company declined by 84% yoy at Rs9.9 crore in Q3FY20 and the revenue also came lower by 40.7% at Rs1,283.9 crore.
· Piramal Enterprises Limited' consolidated net profit rose by 20% yoy at Rs724.19 crore in Q3FY20 as against a net profit of Rs602.75crore in the same period last year. The company’s revenue from operations also jumped by 9% at Rs3,805.7 crore in Q3FY20 as against Rs3,489 crore in Q3FY19.
· Bajaj Auto Limited's total sales for January 2020 came in at 3.94 lakh units, declined by 3% yoy versus 4.07 lakh units reported in the corresponding month last year. Further, total 2-wheeler sales slip 5% to 3.32 lakh units versus 3.50 lakh units sold in January 2019. Total commercial vehicles sales for January 2020 came in at 62,131 units versus 56,690 units in January 2019, higher by 10% yoy.
· Adani Green Energy Limited a part of the Adani Group, reported a net loss in Q3FY20 of Rs129cr yoy as against a net loss of Rs118 crore in the same period last year. Total revenue from operations came in at Rs504 crore, with a rise of 11% yoy. Revenue from power generation stood at Rs452 crore in Q3FY20.
· SRF Limited board has approved a project to de-bottleneck the hydrofluorocarbon capacity at Dahej for Rs65.5 crore and setup dedicated facilities to produce intermediates catering to the agro-chemicals segment for Rs238 crore.
Company Limited posted a growth of 12.9% in PAT for the quarter ending December
2019. Sales income during the same period increase by 9.4% while sales income
for the nine month period ending December 2019 increase by 8.2%. The overall
standalone income from operations for Q3FY20 was Rs6,206 crore, as compared to
last year's income of Rs5,672 crore during the same period.
Calls for Tomorrow:
CALL: BUY L&TFH
EQ ABOVE 114.50 TARGETS 115.65/116.80/117.95 SL 113.35
Description: Stock form consolidation on intraday chart and settled with bullishly. Hence rally is expected above the mentioned level.
CALL: BUY GLENMARK
EQ ABOVE 315.40 TARGETS 318.55/321.75/324.90 SL 312.25.
Description: Stock witnessing correction from lower levels and settled near its immediate resistance with bullishly bias. Hence breakout is expected ahead.