Equity Trading Tips And Market News Analysis

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Equity Trading Tips And Market News Analysis

Stock Market News and Analysis:

Equity benchmark witnessed a negative momentum throughout the day as across the board selling pressure weighed in. Nifty & Bank Nifty closed in the red. Nifty settled at 12031.50, down by 66.85 points and for coming session its key support is at 12000 while on higher side its resistance is at 12100.

Headlines for the day:

• Britannia consolidated net profit rose by 24% in Q3FY20.

• L&T Construction secured large orders for its Power Transmission and Distribution business.

• Cadila healthcare receives EIR from USFDA for Ahmedabad facility.

Key stocks:

• MRF Limited posted a consolidated net profit of Rs241.3cr, with a decline of 17% yoy in the quarter ended December 2019 as against Rs290.8cr during the previous quarter ended December 2018.

• Gail (India) Limited reported a consolidated net profit which was higher by 12.9% yoy at Rs2,029.5cr for Q3FY20 as against a profit of Rs1,797cr in the same period last year. However, its consolidated revenue came down by 11.5% to Rs17,898.2cr during the quarter under review.

• Grasim Industries Limited reported its results for the quarter and nine months ended December 31, Consolidated revenue for the nine months stood at Rs57,724 crore, registered a growth of 5% yoy. Consolidated Profit Before Tax at Rs6,387 crore recorded a growth of 23% yoy. Revenue and EBITDA for the quarter.

• Bharat Forge Limited reported a net profit declined by 59% at Rs127.8 crore in Q3FY20 as against Rs310 crore in the same period last year. The company’s consolidated revenue was declined 36.4% yoy to Rs1,076.7cr in the quarter ended December 2019.

• Tata Steel posted its results for Q3FY20. The company's revenue for the quarter declined 8.6% to Rs35,520 crore as against Rs38,854 crore in Q3FY19. The EBITDA for the quarter came in lower by 46.1% yoy at Rs3,620 crore as against Rs6,716 crore in Q3FY19. Margins for the quarter under review stood at 10.2% as against 17.3% in Q3FY19, down 710 basis points. For Q3FY20, the company registered a net loss at Rs1,228.50 crore versus Rs1,753cr in Q3FY19.

• Britannia Industries reported consolidated revenue growth of 4% for the December quarter at Rs2,936 crore. The company’s consolidated net profit also increased by 24% at Rs373cr in Q3FY20.

• Mahindra & Mahindra Limited (M&M) announced the financial results for the quarter ended December 31, 2019, of the Company and the consolidated Mahindra Group. The company’s net profit declined 73% yoy at Rs380cr in Q3FY20, due to exceptional loss and one-off items worth Rs554 crore.

Calls for Tomorrow:

• CALL: BUY ESCORTS EQ ABOVE 874 TARGETS 882.75/891.50/900.25 SL 865.25.

Description: Stock from consolidation near its immediate resistance with bullishly bias on intraday chart. Hence rally is expected above the mentioned level.

• CALL: BUY GRANULES EQ ABOVE 167.30 TARGETS 169/170.65/172.35 SL 165.60.

Description: Stock settled near its all time high with bullishly bias. Hence breakout is expected ahead.


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