Stock Equity Live Trading News And Market Analysis


Stock Equity Live Trading News And Market Analysis

Stock Market News and Analysis:

Equity benchmark traded with a negative bias for the majority of the day, recovering gradually in the last hour of trade. Nifty settled at 12174.65, down by 26.55 points and for coming session its key support is at 12135 while on higher side its resistance is at 12225.

Headlines for the day:

• Aurobindo Pharma Limited has done with the acquisition of certain business assets of Profectus BioSciences.

• PNC Infratech bags a hybrid annuity highway project worth Rs2,052 crore in U.P.

• Bharti Airtel stated that its wholly-owned subsidiary Network i2i plans to raise funds up to approximately Rs1,780 crore through perpetual bonds

Key stocks:

• Granules India Limited announced that USFDA has tentatively approved its Abbreviated New Drug Application for Guaifenesin Extended-Release Tablets generic equivalent of Mucinex Extended-Release Tablets of RB Health (US) LLC.

• Power Finance Corporation Limited reported a 12% decline in consolidated net profit at Rs3,386.72 crore in Q3FY20 due to higher tax outgo and non-receipt of dividend from REC Limited.

• Bharat Heavy Electricals Limited inked a Memorandum o Understanding with a Russian firm. The Memorandum o Understanding is with Joint Stock Company Rosoboronexport, Russia, during the 5th India-Russia Military Industrial Conference held in Lucknow.

• Torrent Power share prices surged 8% after the company’s consolidated net profit jumped 77% to Rs419.39 crore in Q3 December 2019 as compared to Rs236.96 crore posted in Q3 December 2018. However, its net sales declined 5.4% to Rs3,079 crore in Q3 December 2019.

• Ashok Leyland Limited reported a net profit declined 93.29% to Rs26.79 crore in the quarter ended December 2019 versus Rs399.20 crore during the previous quarter ended December 2018. The sales also declined 30.48% to Rs5,148.15 crore in the quarter ended December 2019 as against Rs7,405.78 crore during the previous quarter ended December 2018.

• IRCTC Limited share prices extended their rally post robust Q3 numbers. The company reported a net profit of Rs205.8 crore in Q3FY20 versus Rs73.59 crore in the same period last year. The revenue from operations grew by 64.59% yoy to Rs715.98 crore in the quarter ended December 2019 and the same increased 39.5% sequentially.

• Godrej Properties Limited will challenge the National Green Tribunal’s order quashing environmental nod granted to one of its housing projects in Bengaluru. The company stated that no construction work has been done in the buffer zone of a lake.

Calls for Tomorrow:

• CALL: SELL SIEMENS EQ BELOW 1409.25 TARGETS 1395.15/1381.05/302 SL 290.30.

Description: Stock settled near its immediate support with bearishly bias. Hence breakout is expected ahead.

• CALL: SELL TATAMOTORS EQ BELOW 168 TARGETS 166.30/164.60/162.95 SL 169.70.

Description: Stock form consolidation near its immediate support and settled with bearishly bias. Hence rally is expected below the mentioned level.

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