Stock market Equity News And Best Market Analysis


Stock market Equity News And Best Market Analysis

Stock Market News and Analysis:

Benchmark Indices witnessed whipsaw moves throughout the day, managing to close on a positive note as short covering weighed in. Nifty settled at 11707.90, up by 46.05 points and for coming session its key support is at 11600 while on higher side its resistance is at 11825.

Headlines for the day:

• M&M on Saturday reported 6% decline in its total sales at 52,546 units in January 2020.

Infoedge said that IE Venture Fund to invest Rs25.2cr in Qyuki Digital Media

• Coal India’s January coal production grew 10.3% at 63.11 mt against 57.21 mt (YoY).

Key stocks:

• Tata Chemicals Limited posted a consolidated net profit of Rs233 crore, with a growth of 6.5% yoy for the quarter ended December 2019 as against the net profit of Rs219.48 crore for the quarter ended December 31, 2018.

• BHEL has won an order for the Electro¬ Mechanical works for the 40 MW Rahughat Hydroelectric Project in Nepal. The order has been placed on BHEL by the Raghuganga Hydropower Limited, a company 100% owned by Nepal Electricity Authority the sole public power utility in Nepal and owned by the Govt. of Nepal.

• TVS Motor Company Limited reported sales of 2,34,920 units in January 2020 as against sales of 2,82,630 units in the month of January 2019.The Company has completely transitioned production to BS-VI vehicles for domestic market. The 2020 range of BS-VI TVS vehicles are equipped with improved fuel economy, 90% reduction in emission, enhanced driveability in all conditions and many first in class features. Equipped with RTFi and ETFi technology, these BS-VI vehicles offer enhanced connectivity, along with first in segment GTT – Glide Through Traffic capability and LED headlamp among others.

• Godrej Properties Limited posted a net profit of Rs45cr, with a growth of 9% yoy. The company’s total income also increased by 4% to Rs491cr and EBITDA was climbed by 60% to Rs151crore.

• NCC Limited informed that it has received three new orders totaling to Rs530crore in the month of January, 2O2O. NCC also informed that these orders are received from Central / State Government agencies and do not include any internal order.

• Tata Motors Limited registered a decline in total domestic sales by 18% yoy at 45,242 units in January, versus 54,915 units in the same month a year ago. Total MHCVs sales in January stood at 9,706 units compared to 14,256 units last year.

• JSW Steel Limited has secured two iron ore mines with a total reserve of 980 million tonnes in the auction in Odisha. The company also informed that these orders are received from Central / State Government agencies and do not include any internal order.

Calls for Tomorrow:

• CALL: BUY HEXAWARE EQ ABOVE 367 TARGETS 370.70/374.35/378.05 SL 363.30

Description: Stock settled near its immediate resistance on daily chart and settled with bullishly. Hence rally is expected above the mentioned level.

• CALL: BUY BRITANNIA EQ ABOVE 3250 TARGETS 3282.50/3315/3347.50 SL 3217.50.

Description: Stock form consolidation near its immediate resistance with bullishly bias on intraday chart. Hence breakout is expected ahead.

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