Stock Market News and Analysis:

Weakness in the last hour of trade tanked benchmark indices to low points. Nifty closed just below 10,250 at 10245.25 and for coming session its key support is at 10170 while on higher side its key resistance is at 10370.

Headlines for the day:

  • Piramal Enterprises Limited strongly refutes rumours about its real estate loan portfolio companies.
  • Container Corporation of India Limited inked an agreement with Kribhco Infrastructure.
  • Tata Steel Limited’s wholly-owned indirect subsidiary TS Global Minerals Holdings enters into an agreement to divest its entire stake in its step-down subsidiary Black Ginger 461 Pty Ltd.

    Key stocks:
  • State Bank of India has got its board’s approval to raise Base-III compliant Tier 2 bonds up to Rs5,000 crore in USD/INR overseas and/or from lndian investors during FY19 through a public offer/private placement.
  •  Lupin Limited has got approval for its Triamcinolone Acetonide Ointment USP, 0.1% from the US Food & Drug Administration to market a generic version of Mylan Pharmaceuticals, Inc.’s Triamcinolone Acetonide Ointment, 0.1%.
  • Gayatri Projects Limited has secured three orders worth Rs403.96 crore from Bihar State Road Development Corporation Limited. Even after this, the company’s shares dropped in noon session.
  • PNB Housing Finance Limited, has successfully raised Rs1,775 crore through commercial paper in October 2018. The Commercial papers are placed with various mutual funds and banks.
  • Unichem Laboratories share prices rose. The company’s API manufacturing facilities at Pithampur and Roha have got Establishment Inspection Reports from the US Food & Drug Administration indicating closure of inspections at both the facilities.
  • Biocon Limited share prices were trading 3% up in late morning trade on Monday after the company got a positive opinion from the European Medicines Agency’s Committee for Medicinal Products for Human Use for its Ogivri drug.
  • HDFC Bank share prices were traded higher after the bank announced Q2FY19 results on October 20. The bank’s NII for Q2FY19 improved 20.6% yoy to Rs1,1763.5 crore versus Rs9,752 crore in Q2FY19.
  • Calls for Tomorrow :
  • CALL: BUY GLENMARK EQ ABOVE 620.90 TARGETS 627.15/633.35/639.55 SL 614.65.
    Description: Stock heading towards its immediate resistance on daily chart and breakout is expected above 620.90.
  • CALL: BUY HINDUNILVR EQ ABOVE 1593 TARGETS 1608.95/1624.90/1640.80 SL 1577.
    Description: Stock heading towards its key resistance on daily chart and rally is expected above the mentioned level.
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Stock Market News and Analysis: Weakness in the last hour of trade tanked benchmark indices to low points. Nifty closed just below 10,250 at 10245.25 and for coming session its key support is at 10170 while on higher side its key resistance is at 10370. Headlines for the day: Piramal Enterprises...
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