Stock Market News and Analysis:
Equity benchmark ended lower for a second consecutive session ahead of the Christmas holidays and amid lack of clarity on the Sino-US trade deal. Nifty settled at 12214.55, down by 48.20 points and for coming session its key support is at 12200 while on higher side its resistance is at 12300.
Headlines for the day:
- L&T Finance Holdings Limited approved offer & issuance of up to 3 crore CPRS worth up to Rs300 crore.
- Hindalco Ltd's Muri refinery in Jharkhand restarted production of Alumina after receiving consent to operate from JSPCB.
- ITC Ltd's John Pulinthanam resigned from board of directors with immediate effec
- Bharat Heavy Electricals informed that the compaby has successfully commissioned the first Lignite based 500 MW thermal unit of the 2x500 MW Neyveli New Thermal Power Project in Tamil Nadu.
- Alembic Pharmaceuticals Limited has received final approval from the USFDA for its Abbreviated New Drug Application Travoprost Ophthalmic Solution USP, 0.004%. The approved ANDA is therapeutically equivalent to the reference listed drug product, Travatan Ophthalmic Solution, 0.004%, of Alcon Pharmaceuticals Limited.
- HCL Technologies Limited announced a partnership with Critical Manufacturing to provide pre-and post-sales consulting, development, and implementation support. The partnership involves Critical Manufacturing’s Manufacturing Execution Systems customers in the complex manufacturing for hi-tech, semiconductor, and medical device manufacturing industries.
- USFDA has approved the Abbreviated New Drug Application filed by Granules India for Loratadine Tablets USP. The approved ANDA is the bioequivalent to the Reference Listed Drug, Claritin Tablets 10 mg by Bayer HealthCare LLC..
- IRCTC Limited share prices rose over 2% after the Ministry of Railways revised the tariff of standard meals on static units over Indian Railways. The company has also signed Memorandum of Understanding with Hotel and Restaurant Association of Northern India.
- Pidilite Industries Limited stated that Madhumala Traders Private Limited, has agreed to make an investment of Rs49 crore in Homevista Decor and Furnishings Private Limited by subscribing to its Series D2 Cumulative Compulsorily Convertible Preference Shares which on conversion would translate to over 5% of the issued and paid-up share capital of the Investee Compa
- NIIT Technologies Ltd' board approved a proposal to buy back up to 19.56 lakh shares at price not exceeding Rs1,725 each share. The company to buyback 3.1% of the equity using 20.23% of the net worth promoter to participate in the buyback.
Calls for Tomorrow:
- CALL: SELL TATAMOTORS EQ BELOW 174.15 TARGETS 172.40/170.65/168.90 SL 159.90 Description: Stock form consolidation near its immediate support with bearishly bias on daily chart. Hence rally is expected below the mentioned level.
- CALL: SELL CADILAHC EQ BELOW 257.30 TARGETS 254.70/252.15/249.55 SL 259.90 Description: Stock settled near its immediate support with bearishly bias on daily chart. Hence breakout is expected ahead.