Equity Trading Tips & Fundamental Updates
Stock Market News and Analysis:
Benchmark Indices have ended the day on a positive note, despites witnessing sharp selling in last hour. The Nifty closed below 10,800-mark at 10771.80 and for coming session its key support is at 10700 while on higher side its key resistance is at 10836.
Headlines for the day:
- Sunteck Realty issued commercial paper of Rs 35 crore
- Future Lifestyle Fashions (FLFL) share prices surge 2% on increasing FPI investment limit.
- Torrent, Lupin and Invagen get final USFDA approval for gLatuda.
- Lupin Limited announced that it has got approval for its generic Lurasidone Hydrochloride (Latuda) tablets from the USFDA. The approval is to market the generic version of Sunovion Pharmaceuticals Inc’s Latuda tablets.
- TCS Limited share prices were in the green in morning session. Shares prices surged 1.5% as the Tech major clarified on the acquisition of select assets of Bridgepoint Group LLC. This acquisition augments TCS’ financial services and insurance domain knowledge, particularly in the area of US retirement services.
- Bharat Heavy Electricals were trading higher after the company commissioned an 800MW super-critical thermal plant in the record time of 46 months. The 800 MW set has been commissioned at Kothagudem Thermal Power Station of Telangana State Power Generation Corporation.
- Bandhan Bank share prices were trading 3% down after reports stated that the bank is set to acquire Gruh Finance through a share swap arrangement with an aim to trim holdings of its promoter.
- Sobha Limited share prices surged after it has reported good average price realisation for the quarter ended December 2018. The company during third quarter, had achieved new sales volume of 908,824 square feet worth Rs 698.8crore.
- The overseas arm of ONG, ‘ONGC Videsh Ltd’ has reported a significant discovery of oil in its offshore block in Columbia. ONGC Videsh holds 70% stake in the block along with its Partner Petrodorado South America S.A. Sucursal, Colombia (30%).
- Reliance Industries Limited has got approval from the Reserve Bank of India for the merger of US Arm-Reliance Holding USA Inc with wholly owned arm Reliance Energy Generation and Distribution Limited.
- Calls for Tomorrow :
- CALL: SELL HINDALCO EQ BELOW 270.50 TARGETS 267.80/265.05/262.35 SL 273.25.
Description: Stock heading towards its immediate support on daily chart and rally is expected below the mentioned level
- CALL: SELL DHFL EQ BELOW 226.50 TARGETS 224.20/221.95/219.70 SL 228.80.
Description: Stock heading towards its key support on daily chart and breakout is expected below 226.50.