Equity benchmarks ended lower, but off day’s low as final hour buying helped the Nifty to finish just above 11,600 levels. Among the sectors, bank, auto, FMCG, metal and pharma witnessed some selling pressure, while some buying seen in the IT stocks. Nifty closed at 11604.50 and for the coming session its key support is at 11550 while on the higher side its key resistance is at 11670.

Headlines for the day:

NIIT Tech stated that it will acquire Whishworks IT Consulting for Rs287crore. It will acquire 52.67% at first while the remaining will be acquired over the next two years.

Polycab India Initial Public Offering was subscribed 1.18 times on Day 2.

Cyient Limited inked a pact with Telangana government.

Key Stocks:

Adani Power Limited has been awarded the Letter of Intent for Korba West Power Company Limited. The Committee of Creditors of KWPCL, a company undergoing insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (Code), has approved the Resolution Plan submitted by Adani Power Limited.

Tata Motors Limited share prices were trading marginally lower in the afternoon trade. Jaguar Land Rover total retail sales for the fourth quarter were 1.58 lakh vehicles, declined 8% compared to the same period last year, and sales in March 2019 were 76,895, declined 8.2% compared to March 2018.

Sobha Limited has achieved a record fourth quarter in terms of pre-sales numbers, enabling it to close a record financial year as well. In the FY18-19, comapany achieved pre-sales of 4.03 million square feet valued at Rs3123crore. This is the highest ever new sales booking in the history of the company. Similarly, Bengaluru has achieved the highest ever new sales booking of 2. 76 mn square feet during FY18-19.

RBL Bank informed that the board will consider raising of funds on April 18, 2019. The audited standalone financial results of the Bank for the quarter/year ended March 31, 2019, along with the audited consolidated financial statements for the year ended March 31, 2019, and recommend dividend, if any, for the financial year 2018-19.

Zydus Cadila has got the tentative approval from the US Food & Drug Administration to market Tofacitinib Tablets, 5 mg,. It will be manufactured at the group’s formulations manufacturing facility at Moraiya, Ahmedabad,.

Torrent Pharmaceuticals Limited share prices traded lower as the US Food & Drug Administration issued certain observations for Dahej unit during March Audit. The company has received observations which are procedural in nature and are confident of addressing them satisfactorily.

Tata Steel Limited stated that its output increased by 23% to 7.70 MT during the last quarter of 2018-19. Its India production stood at 4.47 MT during the January-March 2019 quarter as against 3.07 MT in the year-ago period.

Calls for Tomorrow :

• CALL: SELL SUNTV EQ BELOW 620 TARGETS 613.80/607.60/601.40 SL 626.20
Description: Stock heads towards its immediate support on the daily chart settled with bearishly bias. Hence breakout is expected ahead.

• CALL: SELL BIOCON EQ BELOW 605.45 TARGETS 599.40/593.30/587.25 SL 611.50
Description: Stock heads towards its key support on the daily chart and settled with bearishly bias.
Hence rally is expected below the mentioned level.

Equity Market News Updates & AnalysisRajnish Singhequity tipsstock tipsFree Equity tIps,Stock Tips and News
Equity benchmarks ended lower, but off day's low as final hour buying helped the Nifty to finish just above 11,600 levels. Among the sectors, bank, auto, FMCG, metal and pharma witnessed some selling pressure, while some buying seen in the IT stocks. Nifty closed at 11604.50 and for the...
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