Stock Market News and Analysis:

Benchmark indices ended on positive note but off day’s high with Nifty able to close above 11,950 level. Among the sectors, buying was seen in the bank, auto, metal, energy, IT and infra, while FMCG ended marginally lower. Nifty closed at 11965.60 and for coming session its key support is at 11900 while on higher side its resistance is at 12000.

Headlines for the day:

  • Yes Bank sold 2% equity in Fortis Healthcare.
  • Bharat Financial and IndusInd Bank receive NCLT approval for the merge.
  • Muthoot Capital Services Limited completed the assignment of Rs 84.95 cror

Key stocks:

  • Zensar Technologies share prices surge 8% intraday after it announced global partnership with NetApp and Cisco. The company has joined with NetApp and Cisco to deliver the FlexPod converged infrastructure managed private cloud offering which integrates NetApp storage, Cisco UCS compute/networking resources, and Zensar’s The Vinci Smart Autonomics Platform to deliver a feature rich private cloud for our customers.

 

  • Indiabulls Housing Finance share prices were trading 5% down. This is in relation to the news item of Writ Petition filed in Supreme Court against Sameer Gehlaut allegedly siphoning off Rs 98,000 crore from lndiabulls Housing Finance. The Writ Petition is filed only and is not heard by the court.
  • DHFL announced that it has paid the interest and principal on certain debt instruments due on Monday and also completed the stake sale in Aadhar Housing Finance Ltd to Blackstone Group’s arm.
  • Sterlite Technologies promoters has announced that they have removed their entire pledge on STL’s shares with immediate effect. Vedanta based promoter Twin Star Overseas released entire pledge of 20.74 crore shares or 52.01% on June 10. Pledge was collateral for a loan taken by Volcano Investment Cyprus.
  • Bharti Airtel Limited is all set to pay $26 million over five years and cancel the debt to resolve a dispute over ownership of its Airtel Tanzania unit, media reports stated citing Tanzanian government.
  • Reliance Industries Limited plans to close one of crude distillation units and coker unit in Jamnagar for routine maintenance and inspection activities for three-to-four weeks from June 20.
  • BHEL share prices surge 2% intraday after company secured an order worth Rs 400 crore. The company has secured a prestigious order for the erection work of the upcoming 2×1000 MW Turbine Generator island Units 3&4 at Kudankulam Nuclear Power Project in Tamil Nadu being set up with foreign cooperation (Russia).
  • Calls for Tomorrow : 
  • CALL: BUY JINDALSTEL EQ ABOVE 163 TARGETS 164.65/166.30/167.90 SL 161.40.
    Description
    : Stock form consolidation near its immediate resistance on daily chart and settled with bullish bias. Hence rally is expected above the mentioned level.
  • CALL: SELL EQUITAS EQ BELOW 136 TARGETS 134.60/133.25/131.90 SL 137.40
    Description: Stock heading towards its immediate support and settled with bearish bias. Hence breakout is expected ahead.
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Stock Market News and Analysis: Benchmark indices ended on positive note but off day's high with Nifty able to close above 11,950 level. Among the sectors, buying was seen in the bank, auto, metal, energy, IT and infra, while FMCG ended marginally lower. Nifty closed at 11965.60 and for coming...
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