Best Stock Market News And Market News Analysis

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Best Stock Market News And Market News Analysis

Stock Market News and Analysis:

Benchmark witnessed volatile swings throughout the day, positing a recovery in the closing part of the trade. Nifty settled at 11633.30, down by -45.20 points and for coming session its key support is at 11500 while on higher side its resistance is at 11700.

Headlines for the day:

• L&T Construction secures orders for its various businesses.

Govt propose to sell 1.25cr shares in RITES through offer for sale.

• NCLT approves merger of GSK Consumer and HUL.

Key stocks:

• Glenmark Pharmaceuticals announced that its Swiss subsidiary has entered into an exclusive licensing agreement with Hikma Pharmaceuticals PLC for commercializing its novel nasal spray Ryaltris in the United States.

Sadbhav Infrastructure has received Rs 833 crore towards the first tranche in connection with the sale of entire equity share capital held by the company in six operational road projects to the Indlnfravit Trust.

InterGlobe Aviation Limited Ronojoy Dutta, the Whole Time Director and CEO of the company said that it has responded to all queries by the Securities and Exchange Board of India on related-party transactions (RPTs).

• TVS Motor Company announced their partnership with Motomundo SA, one of the largest, respected business groups in Honduras. Headquartered in India, TVS Motor Company is the flagship company of the $8.5bn TVS Group with exports to over 60 countries.

• Biocon Limited informed that the USFDA conducted a Post-Approval and GMP inspection the company's Small Molecules API Manufacturing Facility at 20th KM, Biocon Campus, Bengaluru, between Feb 20 and Feb 26, 2020.

• Adani Ports and Special Economic Zone Limited informed the exchages that the company has incorporated a wholly owned subsidiary namely Adani Bangladesh Ports Private Limited (ABPPL) in Bangladesh.

• Thomas Cook Ltd. has received approval from its Board of Directors for buyback of up to 2.60 crore fully paid up shares at a price of Rs 57.50 per share for a maximum aggregate amount of Rs150 crore. The buyback price per share of Rs 57.50 is at a premium of 40% over the closing market price of the equity shares.

Calls for Tomorrow:

• CALL: SELL CENTURYTEX EQ BELOW 536.20 TARGETS 530.80/525.45/520.10 SL 541.60

Description: Stock form consolidation and settled near its immediate support with bearishly bias on intraday chart. Hence breakout is expected ahead.

• CALL: SELL CANBK EQ BELOW 154.25 TARGETS 152.70/151.15/149.60 SL 155.80

Description: Stock tanked lower and settled near its 52 week low with bearishly bias. Hence rally is expected below the mentioned level.

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