Expert Analysis & Today’s Fundamental Report
Stock Market News and Analysis:
Equity benchmark ended flat with Nifty ended above 11,000 level. Among the sectors FMCG, auto, IT and pharma index saw some buying, while energy and infra index remain under pressure. Nifty closed at 11069.40 and for coming session its key support is at 11000 while on higher side its key resistance is at 11120.
Headlines for the day:
- Cipla share prices surged 3% even as profit sees 17% dip in Q3.
- RBI cuts repo rate by 25 basis points at 6.25%.
- Indraprastha Gas share prices rose 3% post Q3 numbers.
- MRF share prices declined 1% intraday after the tyre major registered Q3 numbers below street estimates. Shares declined below the Rs60,000 mark after it posted a net profit decline of 18%.
- Siemens Limited share prices bounced 5% after the company witnessed strong growth in net profit to Rs228 crore, up 19.7% yoy, versus Rs190.5 crore in Q1FY18, beating the consensus estimates by 8%. The company’s standalone revenue grew 15.5% yoy to Rs2,807.1 crore in Q1FY19 versus Rs2,429.5cr in Q1FY18. Its operating profit increased 12.5% yoy to Rs306.5 crore for the current quarter.
- Jubilant Group stated that all three listed companies will not pay brand royalty to promoter company Jubilant Enpro. The company said that the decision for payment of brand royalty was taken to protect, maintain, promote and enhance the corporate brand name ‘Jubilant’, which is owned by Jubilant Enpro
- Cummins India share prices declined around 3% in intraday trade even as the company registered a net profit increase of 8.7% in Q3FY19. The company had posted robust numbers on all fronts.
- Sun Pharma share prices surged 2% in morning trade after its US subsidiary Taro Pharma reported strong quarterly results. Taro Pharmaceuticals posted net sales of $176.4 million, a hike of $20.9 million, mainly driven by a 13% hike in overall volumes.
- Lupin Limited has got approval for its Tadalafil Tablets USP, 20mg from the US Food & Drug Administration, to market a generic version of Eli Lilly and Company’s Adcirca Tablets, 20mg. Lupin’s Tadalafil Tablets USP, 20mg is the generic version of Eli Lilly and Company’s Adcirca Tablets, 20mg..
- Jet Airways Limited stated that a new framework would be implemented from Feb07 onwards under which if any changes or cancellations are made seven days prior to flight departure, the domestic passenger would attract a smaller penalty compared to the rate after this period.
Calls for Tomorrow :
- CALL: BUY RECLTD EQ ABOVE 126 TARGETS 127.30/128.55/129.80 SL 124.70
Description: Stock heading towards its immediate resistance on daily chart and breakout is expected above 126.
- CALL: BUY PIDILITIND EQ ABOVE 1168 TARGETS 1179.70/1191.40/1203.05 SL 1156.30.
Description: Stock heading towards its key resistance on daily chart and rally is expected above the mentioned level.