Stock Market News and Analysis:
Benchmark indices ended higher for the fourth consecutive session after RBI decided to keep key rates unchanged. Nifty settled at 12137.95, up by 48.80 points and for coming session its key support is at 12080 while on higher side its resistance is at 12200.
Headlines for the day:
• RITES PAT up 10.5% at Rs150cr in Q3FY20.
• Max Financial Services Q3FY20 cons. Profit After Tax at Rs105crore.
• RBI keep key rates unchanged.
• Adani Power Ltd. posted a net loss before tax and exceptional items for Q3FY20 at Rs649 crore, versus Rs840 crore for Q3FY19. The Total Comprehensive Loss after Tax was Rs703 crore for Q3FY20, as compared to Rs1,180 crore for Q3FY19..
• Lupin Ltd reported a consolidated loss at Rs835 crore in December quarter from Rs151.75 crore in the same quarter last year. Exceptional losses for the quarter stood at Rs288.68 crore, which were less than Rs342.22 crore in the same quarter last year. .
• L&T Infotech has expanded its engagement with OKQ8 AB Scandinavia. This engagement will transform applications and infrastructure landscape with services that include Infrastructure-as-a-Service Application Operations, Maintenance and Development, Security Services, resulting in improved stability, availability, and predictability of IT operations over the next five years.
• Granules India Ltd. informed that the USFDA has approved the Abbreviated New Drug Application filed by Granules Pharmaceuticals, Inc. It is bioequivalent to the reference listed drug product, Colcrys Tablets, 0.6 mg, of Takeda Pharmaceuticals USA, Inc.
• DLF Ltd reported a consolidated net profit at Rs414 crore, with a growth of 24% for the quarter ended December as against net profit at Rs335.15 crore in the year-ago period. The company’s total income came in at Rs1,533.3 crore in Q3FY20 from Rs2,405.89 crore in the corresponding period the previous year.
• Hindustan Petroleum Corporation reported a decline in net profit by 29% qoq at Rs747 crore in December 2019. The company’s revenue was up 16.2% at Rs70,749.6 in December 2019. The EBITDA came in lower by 19.7% at Rs1,867 crore in Q3 and margin stood at 2.6% qoq in Q3FY20. Its Gross refining margin stood at $1.79 per barrel vs. $2.83 per barrel.
• Sun Pharma Limited announced results for the quarter ended December 2019. For Q3FY20, the company's revenue came in at Rs8,155 crore, up 5.4% yoy as against Rs7,740 crore registered in the same quarter previous year. The company's net profit at Rs913.5 crore was lower by 26.4% in the quarter under review as against Rs1,241.9 crore reported in Q3FY19.
Calls for Tomorrow:
• CALL: BUY INDUSINDBK EQ ABOVE 1345 TARGETS 1358.45/1371.90/1385.35 SL 1331.55.
Description: Stock settled near its key resistance with bullishly bias. Hence rally is expected above the mentioned level.
• CALL: BUY NAUKRI EQ ABOVE 3095.20 TARGETS 3126.15/3157.10/3188.10 SL 3064.25.
Description: Stock settled near 52 week high with bullishly bias. Hence breakout is expected ahead.