Stock Market News and Analysis:
Benchmark indices snapped
Headlines for the day:
• Bank of Maharashtra to raise up to Rs600 crore via bonds.
• Steel Strips Wheels Ltd.
• Newgen Software stock surges 5% after securing
• SBI Cards and Payment Services has been subscribed 0.58 times on day two. The portion reserved for institutional buyer was subscribed 0.13 times and non-institutional buyers 0.37 times, retail buyers was subscribed 1.14 times.
• PNB Housing Finance Limited board has approved to raise equity capital aggregating up to Rs1
• Zydus Cadila, an innovation-driven, global pharmaceutical company, announced that it has received an approval from the Drug Controller General of India to initiate Phase 1 clinical trials for its Investigational New Drug ZYBK2, a New Chemical Entity intended to treat Rheumatoid Arthritis.
• Parag Milk Foods Limited promoters that they will pay the entire outstanding amount of Rs 33 crore within 90-days to release the pledged from Kotak Mahindra Investments. The promoters have pledged nearly 1.87 crore equity shares with Kotak Mahindra Investments Limited as on
• Infosys, a global leader in next-generation digital services and consulting, and IBM today announced a global alliance to help enterprises accelerate their digital transformation journey using the IBM public cloud.
• Hero MotoCorp Limited reported a 19.27% drop in total sales at 4.98 lakh units in February 2020 as against 6.17 lakh units in the corresponding month of the previous year.
• DB Realty defaulted in payment of inter-corporate deposit worth Rs85.05
Calls for Tomorrow:
• CALL: SELL INDIGO EQ BELOW 1213.50 TARGETS 1201.35/1189.20/1177.10 SL 1225.65
Description: Stock settled near its immediate support with bearishly bias. Hence breakout is expected ahead.
• CALL: BUY PFC EQ ABOVE 114.85 TARGETS 116/117.15/118.30 SL 113.70
Description: Stock form consolidation on