Stock Market News and Analysis:
Equity benchmark traded in a narrow range throughout the day, with both Bank Nifty and Nifty indices closing in the green. Nifty settled at 12271.80, up by 12.10 points and for coming session its key support is at 12220 while on higher side its resistance is at 12300.
Headlines for the day:
- Hexaware Technologies Limited approved reconstitution of the committee of the board.
- Religare Enterprises Ltd' board withdrew the scheme of amalgamation of its two arms Religare Comtrade and Religare Insurance with the company.
- Prince Pipes IPO was subscribed 74% at close of the second day of bidding.
- Central Depository Services Ltd. (CDSL) informed that it has received the final approval from markets regulator SEBI to set up an Internal Financial Services Corporation Branch at Tec City (GIFT City), Gujarat.
- Dilip Buildcon Ltd. informed that DBL Nidagatta Mysore Highways Private Limited, wholly owned subsidiary of the company, has received the appointed date, i.e., December 10, 2019 by the National Highway Authority of India.
- Hexaware Technologies Limited share prices declined 1% in the morning trade. The Board has approved reconstitution of committees of the board. Further, the company stated that the Nomination & Remuneration Committee of the Board at its meeting held today has considered and approved the exercise of 15,640 RSUs by Employees under the Employees Stock Option Scheme 2015.
- Glenmark Pharmaceuticals announced that Seqirus Pty. Ltd. (Seqirus) has received marketing approval for Ryaltris® from the Therapeutic Goods Administration, Australia. This paves the way for the launch of Ryaltris® in Australia through its partner, Seqirus.
- Tata Chemicals Limited notified that through its wholly-owned subsidiary, Valley Holdings, Inc., it has acquired the remaining 25% partnership interest from The Andover Group, Inc. in Tata Chemicals Partners Holdings.
- Lupin Limited in alliance with Concord Biotech Limited announced that it has received approval from the USFDA for Mycophenolic Acid Delayed-Release Tablets USP, 180 mg and 360 mg, to market the generic equivalent of Myfortic Delayed-Release Tablets, 180 mg and 360 mg, of Novartis Pharmaceuticals Corporati
- Piramal Enterprises Limited announced the completion of Rs1,750 crore fundraise through preferential allotment of Compulsory Convertible Debentures to Canadian institutional investor, Caisse de dépôt et placement du Quebec.
Calls for Tomorrow:
- CALL: SELL SUNPHARMA EQ BELOW 427.30 TARGETS 423/418.75/414.45 SL 431.60 Description: Stock form consolidation near its key support with bearishly bias on daily chart. Hence rally is expected below the mentioned level.
- CALL: SELL AMARAJABAT EQ BELOW 716.65 TARGETS 709.45/702.30/695.15 SL 723.85 Description: Stock settled near its immediate support with bearishly bias on daily chart. Hence breakout is expected ahead.