Equity Fundamental Report | Equity Trading Tips
Stock Market News and Analysis:
The last hour selling has dragged the benchmark indices to the day’s low level after remained volatile as RBI has cut the repo rate by 35 bps at 5.40 percent in its policy meet. Among sector, barring IT and pharma, all other sectoral indices ended negative led by bank, metal, auto, energy and infra. Nifty closed at 10855.50 and for coming session its key support is at 10780 while on higher side its resistance is at 10980
Headlines for the day:
- Tata Steel Limited terminated the agreement to sell its equity stake in its Thailand arm, as HBIS Group could not procure approvals from the country’s government.
- DMART’s one of the promoter will divest up to 1% stake, or 62.3 lakh shares of the company.
- L&T bagged a mega EPC contract for design and construction of a major airport.
- Voltas Limited, the global air conditioning and engineering services provider of the Tata Group, announced the Consolidated Financial Results for the quarter ended 30th June 2019.
- Lupin Limited share prices were trading up on reporting Q1FY20 results. In the quarter ended June 2019, sales came in at Rs 4,355 crore versus to Rs4,326 crore in Q4FY19 (up 0.7% qoq) and Rs3,775cr in Q1FY19 (up 15.4% yoy).
- State Bank of India has announced the cut in its MCLR by 15bps across all tenors. The 1-year MCLR would come down to 8.25% p.a from 8.40% p.a. with effect from August 10, 2019.
- Cadila Healthcare Limited share prices were trading lower by 2% after the company received a letter from US Food & Drug Administration classifying the inspection it conducted at the Moraiya facility as official action initiated.
- Indiabulls Housing Finances Limited share prices declined after the company reported its Q1FY19 numbers. The company’s consolidated net profit declined 24% to Rs801.5crore. The housing finance company’s NII for Q1FY20 has fell by 12.7% qoq to Rs1,475 crore against Rs1,690 crore in Q1FY19.
- Hindalco Limited share were in focus after a report stated that Novelis expected to complete the $2.6 billion acquisition of Aleris in the quarter ending December against its earlier target of three months ending Septembe
- Reliance Industries and Bharat Petroleum stated that it will form a new joint venture that will include a retail service station network and aviation fuels business across India. Fuel retailing outlets to increase to 5,500 outlets.
- Calls for Tomorrow :
- CALL: SELL RBLBANK EQ BELOW 360.25 TARGETS 356.65/353.05/349.40 SL 363.85
Description: Stock settled near its 52 week low with bearishly bias. Hence rally is expected below the mentioned level.
- CALL: SELL HINDPETRO EQ BELOW 243.20 TARGETS 240.75/238.30/235.90 SL 245.65
Description: Stock settled near its immediate support with bearishly bias on intraday chart. Hence breakout is expected ahead.