Daily Equity Trading Tips & Fundamental Report
Stock Market News and Analysis:
Equity ended flat after a rangebound session as traders remained cautious ahead of TCS & Infosys earnings scheduled to be announced tomorrow. Among the sectors, metal index falls 1% followed by Pharma, IT, and bank while auto and FMCG are trading with marginal gains. Nifty closed at 11596.70 and for coming session its key support is at 11550 while on higher side its key resistance is at 11680.
Headlines for the day:
- NBC Limited received the orders worth Rs3,030 crore in March.
- NMDC Limited March sales down 13% at 3.59 MT versus 4.15 MT and its yearly sales dropped by 10% to at 32.39 MT.
- Info Edge (NAUKRI) raised stake in Gramophone to 37.2% for Rs14 crore.
- Lupin Limited announced that it has received approval for its Testosterone Gel, 1.62% (20.25 mg/1.25 g pump actuation), from the USFDA to market a generic version of AbbVie, Inc’s (AbbVie) AndroGel 1.62%.
- Larsen & Toubro share prices surged 1% in the late morning trade after it purchased Tamil Nadu Industrial Development Corporation Ltd’s 3% stake in its subsidiary L&T Shipbuilding Ltd for Rs32.74 crore.
- Wockhardt Limited share prices surged 2% after the company informed that it has received approval from the United States Food & Drug Administration for an ANDA for 50mg injection of Decitabine marketed in the US and other countries by Otsuka.
- Vedanta Limited share prices were trading 3% down after reports suggested that the Supreme Court in the UK has ruled that Zambian villagers can sue the company in British courts over alleged pollution by a copper mine in the country.
- Welspun Corp Limited share prices surged in the morning trade after the company received pipe orders of 180KMT on a global basis. The company’s order book stood at 1,661 KMT valued at Rs14,100 crore.
- Bharti Airtel Limited informed that the company has set April 24 as the ‘record date’ to determine shareholders eligible to apply for the equity shares in the upcoming Rs25,000cr rights issue.
- Reliance Industries Limited clarified that the company neither setup any gas pipeline in 2006 nor has any contracts with any Netherland company for setting up any gas pipeline.
- Calls for Tomorrow :
- CALL: BUY INDIACEM EQ ABOVE 110.15 TARGETS 111.25/112.35/113.45 SL 109.05
Description: Stock heading towards its immediate resistance on daily chart settled with bullishly bias. Hence breakout is expected ahead.
- CALL: SELL POWERGRID EQ BELOW 195 TARGETS 193.05/191.10/189.15 SL 197
Description: Stock heading towards its key support on daily chart and settled with bearishly bias. Hence rally is expected below the mentioned level.