Stock Market News and Analysis:

It was a strong close for the benchmark indices with Nifty finished above 11,900 level. Among the sectors, barring IT and pharma all other indices ended higher led by metal, infra, FMCG, PSU bank and energy. Nifty closed at 11924.75 and for coming session its key support is at 11850 while on higher side its resistance is at 12000.

Headlines for the day:

  • Capacit’e Infraprojects Limited secures order worth Rs170.40 crore in Pune.
  • Manpasand Beverages Limited locked in 20% lower circuit after top official’s arrest.
  • Biocon new drug application for Pemetrexed Disodium received tentative approval from the USFDA on May 2

Key stocks:

  • Bharat Heavy Electricals Limited has reported quantum growth in its profitability and entered several new business areas in fiscal 2018-19, ending the year with significant traction in growth drivers. PAT jumped 50.7% at Rs1,215 crore in Q4FY19 versus Rs. 807 crore in the previous fiscal year. Revenue from operations during the quarter slightly grew by 0.8% to Rs10,297 crore compared to the year-ago period.
  • GAIL’s net profit increased by 9.9% to Rs1,122.2 crore in the quarter ended March 2019 versus Rs1,020.9 crore during the corresponding quarter ended March 2018. The company’s revenue from operations increases 21.6% to Rs18,764 crore in the quarter ended March 2019 versus Rs 15,431 crore during the corresponding quarter ended March 2018. It has announced bonus shares in the ratio 1:1.
  • Motherson Sumi Systems Limited reported consolidated net profit at Rs409.96 crore in Q4FY19 versus Rs518.36 crore in the same period last yea The company’s revenue from operations rose 11.4% to Rs17,169.5 crore in Q4FY19. EBITDA stands at Rs366.87 crore in March 2019 down 8.7% from Rs 401.85 crore in March 2018.
  • Page Industries share prices declined 10% after the company’s net profit declined 20.4% to Rs74.98 crore in the quarter ended March 2019 as against Rs94.22 crore during the previous quarter ended March 2018.
  • Granules Pharma informed that the US Food & Drug Administration has given approval for Methylphenidate Hydrochloride Extended-Release capsules for 10 mg, 20 mg, 30 mg, 40 mg and 60 mg, bioequivalent to the reference listed drug product, Ritalin LA Extended-Release Capsules, 10 mg, 20 mg, 30 mg, 40 mg, and 60 mg, of Novartis Pharmaceuticals Corporation.
  • HDFC Bank informed that the bank’s board of directors granted approval for a proposal to split the lender’s share from one equity share of the face value of Rs2 each to two shares of face value Rs1 each.
  • Lupin Limited has received a communication from the US Food & Drug Administration classifying the inspection conducted at its Goa facility between January 28 to February 8, 2019, as Official Action Indicated.
  • Calls for Tomorrow :

  • CALL: SELL DMART EQ BELOW 1281 TARGETS 1268.15/1255.35/1242.55 SL 1293.85
    Description
    : Stock heading towards its immediate support and expected to give negative breakout.
  • CALL: SELL WIPRO EQ BELOW 280 TARGETS 277.20/274.40/271.60 SL 282.80
    Description: Stock heading towards its immediate support and settled with bearishly bias. Hence breakout is expected ahead.
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 Stock Market News and Analysis: It was a strong close for the benchmark indices with Nifty finished above 11,900 level. Among the sectors, barring IT and pharma all other indices ended higher led by metal, infra, FMCG, PSU bank and energy. Nifty closed at 11924.75 and for coming session its...
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