Stock Market News and Analysis:
Benchmark Indices witnessed a continued selling pressure throughout the day as across the board selling weighed in. Nifty settled at 10989.45, down by 279.55 points and for
Headlines for the day:
• Force Motors Limited Feb Domestic Sales declined 19% to 2,000 units.
• Life insurance company (LIC) has raised its stake in Cipla from 2.5% to 4.52% from April 17, 2018 to March 3, 2020.
• Lemon Tree Hotels
• Mahindra and Mahindra share prices declined in the morning trade after it posted production and sales numbers for February 2020. The company's February production went down 56%
• Pidilite Industries Limited declined after the company has incorporated a joint venture company in the name of Pidilite C-Techos Walling on Thursday to carry on the business of construction of building works or any other structural or architectural work of any kind using C-Techos wall technology, manufacturing of ACC panels and other ancillary products.
• Dr. Reddy's Laboratories Limited has announced that the audit of its API Manufacturing Plant - 5 at Miryalaguda, Nalgonda District, Telangana, by the US Food & Drug Administration, has been completed on Thursday. The pharma company has been issued a Form 483 with 3 observations, as per the filing. The company said that it will address them comprehensively within the stipulated timeline.
• Lupin Limited announced the launch of the authorized generic for Horizon Therapeutics PLC's Vimovo (naproxen/esomeprazole magnesium) delayed-release tablets, 375 mg/20 mg and 500 mg/20 mg in the U.S.
• The RBI has restricted withdrawal from capital-starved Yes Bank at Rs50
Calls for Tomorrow:
• CALL: SELL TATAMOTORS EQ BELOW 112.80 TARGETS 111.65/110.50/109.40 SL 113.95
Description: Stock form consolidation on
• CALL: SELL ITC EQ BELOW 179.75 TARGETS 177.95/176.15/174.35 SL 181.55
Description: Stock settled near its immediate support with bearishly bias. Hence breakout is expected ahead.