Equity Fundamental For Making More Profits
Stock Market News and Analysis:
Equity benchmark remained under pressure throughout the session but recovered a bit at the end of October F&O expiry day. Except IT sector, all the other sectoral indices ended negative. Nifty closed at 10124.90 and for coming session its key support is at 10075 while on higher side its key resistance is at 10200.
Headlines for the day:
- Tata SteelLimited announced support for Tata Sponge’s entry into the steel business.
- Jet AirwaysLimited clarifies that it had not sought any moratorium on loans or reduction of interest rates from its lenders.
- Dynemic Productsstopped its operations at Ankleshwar Plant after receiving notice from the Gujarat Pollution Control Board.
- Dish TV Limited share prices plunged 14% after the company released its results for the quarter ended September 2018. The company’s adjusted net profit stood at Rs20 crore, declined 22.6% qoq. Revenue and Net profit came below estimates of Rs1,651 crore and Rs44 crore respectively. EBITDA margin expanded by 28bps qoq to 33.91%.
- NBCC Limited has secured an order worth Rs902 crore from the Ministry of Health and Family Welfare, the company stated in a press note to exchanges on Thursday. Even after this, shares of the company dropped 1% in the noon session today.
- Bharat Heavy Electricals Limited were trading 6% down in the afternoon session on Thursday after the company’s net profit for Q2FY19 missed street expectations. Sales grew 6.4% yoy to Rs6,779.9cr from Rs6,375.3 crore in Q2FY18, EBITDA increased 40.7% yoy to Rs240.8 crore during the quarter from Rs171.1cr in Q2FY18
- Lakshmi Vilas Bank share prices slumped as the bank posted a net loss of Rs132 crore in the second quarter ended September 30 on account of mounting bad loans. The bank had reported a loss of Rs10.5 crore in the same quarter last year.
- L&T Finance Holding Limited share prices declined 6% after the company posted September quarter earnings that surged 66% on the back of retail demand. However, business was marred by exposure to IL&FS, Kerala floods, and default by a real estate company.
- Wipro Limited share prices surged 2% in the morning trade as the IT company posted Q2FY19 numbers after-market hours. The company’s PAT declined by 10.9% qoq to Rs1,889 crore against median consensus estimate of Rs2,112 crore. Adjusting for the higher other operating income in the base quarter arising from the sale of hosted data centre business, the qoq decline in PAT was 3.2%.
- Tata Chemicals Limited signed a Memorandum of Understanding with CSIR- Central Electrochemical Research Institute, Karaikudi to increase manufacturing of cathode materials for Lithium-ion cells.
- Calls for Tomorrow :
- CALL: SELL TECHM EQ BELOW 646 TARGETS 639.50/633.05/626.60 SL 652.50.
Description: Stock heading towards its immediate support on daily chart and breakout is expected below 646.
- CALL: SELL TATAMTDVR EQ BELOW 90.60 TARGETS 89.65/88.75/87.85 SL 91.55
Description: Stock heading towards its immediate support and hovering near 52 week low. Rally is expected below the mentioned level.