Stock Market News and Analysis:
Equity benchmark traded in a narrow range throughout the day with both Nifty and Bank Nifty closing on a flat note. Nifty settled at 12271.80, up by 12.10 points and for coming session its key support is at 12200 while on higher side its resistance is at 12300.
Headlines for the day:
- Prince Pipes Initial Public Offering subscribed 2.22 times on last day.
- Tata Global Beverages appoints Sunil D'Souza as CEO & MD.
- KEC International bagged new orders worth Rs1,520 crore.
- Hong Kong Aircraft Engineering Company Limited announced it will continue to work with Ramco Systems to bring the global software specialist’s advanced Aviation solutions to four more business units in Hong Kong, Xiamen and Jinjiang..
- Mahindra & Mahindra Limited announced that over the next 15 months, senior leaders at Mahindra & Mahindra Limited. will be retiring. Top management succession plans have been announced on 20th December 2019.
- Reliance Infrastructure Limited has secured a major Arbitration Award of Rs1,250 crore against Damodar Valley Corporation, a Government of India undertaking. A three-member Arbitration Tribunal unanimously gave the award in favour of Reliance Infrastructure on December 21, 2019.
- L&T Technology Services Limited secured a multi-million-dollar project from one of the world’s top plastics, chemicals and refining manufacturers, to deliver the entire spectrum of Engineering, Procurement and Construction Management services for the expansion of an existing site in Europe..
- The Odisha Electricity Regulatory Commission awarded the Letter of Intent to Tata Power Company Limited informing the Company’s selection as the successful bidder to own the licence for the distribution and retail supply of electricity in Odisha’s five circles, together constituting Central Electricity Supply Utility of Odisha.
- Power Grid Corporation of India Limited informed that the Board of Directors have accorded investment approval of about Rs180 crore with respect to schemes to control fault level at Kanpur & Bhiwani substations in the Northern Region and Wardha substation in the Western Region with commissioning schedule progressively in 18 and 27 months respectively, from the date of investment approv
- Cadila Healthcare Limited announced that US Food & Drug Administration inspected the company’s topical manufacturing facility located in Ahmedabad from December 16-20, 2019. At the end of the inspection, no observation (483) has been issued.
Calls for Tomorrow:
- CALL: BUY ZEEL EQ ABOVE 296.40 TARGETS 299.40/302.35/305.30 SL 293.40 Description: Stock settled near its key resistance on daily chart. Hence breakout is expected ahead.
- CALL: BUY VEDL EQ ABOVE 148 TARGETS 149.50/151/152.45 SL 146.50 Description: Stock form consolidation and settled near its immediate resistance with bullishly bias on intraday chart. Hence breakout is expected ahead.