Stock Market News and Analysis:
Benchmark Indices traded with a positive bias throughout the day with both Nifty & Bank Nifty index closing in the green. Nifty settled at 12107.90, up by 76.40 points and for coming session its key support is at 12040 while on higher side its resistance is at 12175 .
Headlines for the day:
• Kalpataru Power Transmission's consolidate PAT up 17% yoy in Q3.
• Info-Edge(NAUKRI) to acquire up to 25% stake in Sunrise Mentors for Rs37.1cr..
• Siemens Limited Q1 Profit after Tax up 15% yoy.
• Granules India announced that the USFDA has tentatively approved the Abbreviated New Drug Application (ANDA) filed by Granules Pharmaceuticals, Inc (GPI)., a wholly-owned foreign subsidiary of Granules India Limited for Colchicine Capsules, 0.6 mg.
• Zydus Cadila stated that it has grts the final approval from the US Food & Drug Administration to market Fluocinonide Cream USP, 0.1 %. The company stated that the drug will be manufactured at the group's Topical manufacturing facility at Ahmedabad.
• BEML's consolidated net profit declined by 90.8% yoy at Rs4.2cr in Q3FY20 as against Rs46.2cr in the same period last year. The revenue of the company also fell 24.8% at Rs693cr in Q3FY20 as against Rs920.8cr in Q3FY19. EBITDA stood at Rs25.9cr, down 66.4% yoy and margin stood at 3.7% in Q3FY20 as against 8.4% in the same period last year.
• Tata Chemicals Limited nnd Tata Global Beverages Limited announced that the Scheme of Arrangement between Tata Global and Tata Chemicals regarding the Consumer Products Business of Tata Chemicals is now operational, effective from February 7, 2020. Following this, Tata Global has been renamed Tata Consumer Products Limited.
• Avenue Supermarts has raised Rs4,098 crore via four investors, which included investors such as Lone Cypress and the Singapore Government. The company stated that it issued and allotted 2 crore shares at an issue price of Rs2,049, under a QIP. The issue opened on February 5, and closed on February 10,.
• Indiabulls Real Estate share prices surge 4% even after reporting a decline in net profit in Q3FY20. The company registered a consolidated net profit at Rs49.27 crore, down 75.69% for the quarter ended December 2019 versus Rs202.4 crore in the corresponding quarter last fiscal.
• GAIL (India) Limited share prices surged higher, in the morning trade. The company reported a consolidated net profit which was higher by 12.9% yoy at Rs2,029.5 crore for Q3FY20 as against a profit of Rs1,797cr in the same period last year.
Calls for Tomorrow:
• CALL: SELL COLPAL EQ BELOW 1343.40 TARGETS 1330/1316.50/1303.10 SL 1356.85.
Description: Stock from consolidation near its immediate support with bearishly bias on intraday chart. Hence rally is expected above the mentioned level.
• CALL: SELL JUBLFOOD EQBELOW 1820 TARGETS 1801.80/1783.60/1765.40 SL 1838.20.
Description: Stock settled near its immediate support with bearishly bias. Hence breakout is expected ahead.