Stock Market News and Analysis:

Nifty closed above 11,000 after media reports suggested that the government is likely to roll-back recently impose a higher tax on foreign portfolio investors. All the sectoral indices ended in green led by auto, IT, energy, bank, metal, FMCG, pharma and infra. Nifty closed at 10855.50 and for coming session its key support is at 10900 while on higher side its resistance is at 11150

 

Headlines for the day:

  • Aurobindo Pharma posts 39.5% rise in cons. net profit at Rs635.8cr.
  • Tata Steel divests 70% in Thailand arm to Synergy Metals & Mining Fund.
  • Adani Green reported widening of consolidated net loss to Rs97cr in Q1FY20.

Key stocks:

  • Radico Khaitan Limited, reported its net profit at Rs54.76 crore, which was up 29% yoy. Its revenue stood at Rs 624 crore, a growth of 20.8% aided by a strong operational performance.
  • Page Industries posted its Q1FY20 results. The company’s Profit After Tax in the quarter under review declined 11% yoy to Rs110.7 crore versus Rs124.4 crore in Q1FY19. Revenue inched up by 2.4% yoy to Rs8,349.6 crore.
  • Adani Enterprises Ltd part of the Adani Group, posted its results for the first quarter ended June 30, 2019. The Profit After Tax attributable to owners for Q1FY20 increased 2.5 times to Rs 601 crore versus Rs169 crore in Q1FY19. This includes a one-time income of Rs328 crore recognized in MDO business.
  • Lupin Ltd share prices declined over 3% even as the co. announced the completion of USFDA inspection at its Nagpur unit without any obervations. Company announced the completion of the USFDA inspection carried out at its Nagpur oral solid manufacturing facility. The inspection was carried out between August 5, 2019 and August 8, 2019.
  • Godrej Properties Limited announced its financial results for the first quarter ended June 30, 2019. The company had posted a net profit of Rs89.87 crore in the quarter ended June 30, 2018. Revenue from operations declined 36% yoy to Rs635.88 crore during the quarter under review from Rs 996.73 crore in the corresponding quarter of the previous year.
  • Adani Power Ltd announced the financial results for the first quarter of FY20. Shares of the co. were down 2% post. Consolidated total income for the quarter doubled from Rs3,959 crore in Q1FY19 to Rs8,015 crore in Q1FY20 due to the improved operating performance.
  • Siemens Ltd reported profit after tax at Rs248 crore, with a hike of 21.4 % over the same quarter last year. Revenue stood at Rs3,110 crore, a 4.9% growth over the same quarter in the preceding year.
  • Calls for Tomorrow :

  • CALL: BUY APOLLOTYRE EQ ABOVE 158.35 TARGETS 159.95/161.55/163.10 SL 156.75
    Description:
    Stock settled near its key resistance with bullishly bias on daily chart. Hence rally is expected above the mentioned level.
  • CALL: BUY DIVISLAB EQ ABOVE 1657 TARGETS 1673.60/1690.15/1706.75 SL 1640.40
    Description: Stock settled near its immediate resistance on intraday chart. Hence breakout is expected ahead.
Equity Trading Tips And Fundamental Updated Newshttp://www.trifidresearch.com/blog/wp-content/uploads/2019/05/images-5-1.jpghttp://www.trifidresearch.com/blog/wp-content/uploads/2019/05/images-5-1-300x159.jpgRajnish Singhequity tipsAccurate Stock Tips,Best Stock tips,Best Way Stock Tips,Online Stock Tips
Stock Market News and Analysis: Nifty closed above 11,000 after media reports suggested that the government is likely to roll-back recently impose a higher tax on foreign portfolio investors. All the sectoral indices ended in green led by auto, IT, energy, bank, metal, FMCG, pharma and infra. Nifty closed at...
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