Stock Market News and Analysis:

Equity Benchmarks indices ended at day’s high. All the sectoral indices ended in green led by IT and mentals with 2% gain, followed by energy, auto, FMCG and Pharma. Nifty closed at 11062.45 and for coming session its key support is at 11000 while on higher side its key resistance is at 11100.

 

Headlines for the day:

  • Bharti Airtel Limited clarified that overall debt situation is already comfortable and the planned initiatives will further benefit the debt picture.
  • HCL Technologies to partner with Harris Geospatial Solutions to provide digital solutions to the utility industry
  • RBI imposes Rs1cr on Syndicate Bank and Rs2 crore penalty on Axis Bank, UCO Bank for varied non-compliances.

Key stocks:

  • Dr Reddys Lab clarified on a media report which stated that US insurance firm had named Dr. Reddy’s in a price-fixing complaint. The company denies any wrongdoing and intends to vigorously defend against these claims.
  • Glenmark Pharmaceuticals announced filing that its Swiss subsidiary, Glenmark Specialty S.A., has signed a deal with Grandpharma for commercializing its novel nasal spray Ryaltris in China.
  • Strides Pharma Science informed that the company has received the Establishment Inspection Report from the US Food & Drug Administration on continued GMP status for its facility in Bengaluru
  • Lupin Limited informed that it has launched Clomipramine Hydrochloride Capsules USP, 25mg, 50mg, and 75mg in the US, having received approval from the United States Food and Drug Administration earlier.
  • Hindustan Petroleum Corporation Ltd share prices surge 3.2% in early trade on February 6 even after the company posted weak results for the quarter ended December 31, 2018.
  • Jubilant FoodWorks clarified that Jubilant Enpro Pvt. Ltd has decided not to charge the corporate brand royalty of 0.25% of the consolidated revenues of the Company and the same stands withdrawn.
  • Cipla registered a drop of 17 %(YoY) in its profit for the December quarter at Rs 332.2 crore against Rs 400.5 crore posted last year. The company’s consolidated revenue rose over 2% at Rs 4,077.5 crore against Rs 3,914 crore in Q3FY19.
  • Calls for Tomorrow :

  • CALL: BUY INFRATEL EQ ABOVE 298 TARGETS 301/304/306.95 SL 295
    Description
    : Stock heading towards its key resistance on daily chart and rally is expected above the mentioned level.
  • CALL: BUY JUSTDIAL EQ ABOVE 485.50 TARGETS 490.40/495.25/500.10 SL 480.65.
    Description: Stock heading towards its immediate resistance on daily chart and breakout is expected above 485.50.
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Stock Market News and Analysis: Equity Benchmarks indices ended at day's high. All the sectoral indices ended in green led by IT and mentals with 2% gain, followed by energy, auto, FMCG and Pharma. Nifty closed at 11062.45 and for coming session its key support is at 11000 while on...
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