Stock Market News and Analysis:

Benchmark Indices have ended the day off low points, but still in the red followed by weak global and domestic cues impacted on the indices. Nifty give up 10,800 mark and ended at 10792.50 and for coming session its key support is at while on higher side its key resistance is at 10950.

Headlines for the day:

  • Coal India Limited stated that its coal production in December was down 0.9 percent at 54.13 MT vs. 54.63 MT on a year on year basis.
  • Power Grid Corporation’s M.P. arm commissioned transmission project. This project has started its commercial production from January 1.
  • NMDC Limited stated that it would consider share buyback on January 8.

Key stocks:

  • TVS Motor registered lower-than-expected volume numbers in December 2018. Total volume was up 6% yoy but down 15% mom in December 2018. This was the slowest monthly yoy growth rate since October 2017. The company sold 2,71,395 vehicles in December 2018, against 2,56,870 vehicles in December 2017 and 3,19,965 vehicles in November 2018.
  • NCC Limitedshare prices bounce 3% as the company winning 4 orders worth Rs2,890.7 crore in December, 2018. The orders are from central and state government agencies. out of this, one order of Rs680 crore related to water and environment division, two orders totaling to Rs2,126.8 crore related to roads division, and the fourth order of Rs83.7 crore pertained to building division.
  • Hero MotoCorp Limited registered sales of 4,53,985 vehicles in December 2018, decline of 4% yoy. Sequentially on mom basis volumes were down 26%. Hero MotoCorp sold 4,53,985 vehicles in December 2018 against 4,72,731 vehicles in December 2017 and 6,10,252 vehicles in November 2018.
  • Ashok Leyland Limited registered 20% yoy volume decline for the month of December 2018. Total sales were 15,493 units in December 2018 versus 19,251 units in December 2017 and 13,121 units in November 2018. The volume decline came on a strong base of December 2017, volume growth of 79% yoy, 33% mom.
  • Chambal Fertilizers & Chemicals Limited has commenced commercial production from Gadepan-III Plant with effect from January 01, 2019. Chambal Fertilizers has started a new urea plant for production of 1.34mn MT of urea per annum at the existing site at Gadepan, District, Kota, Rajasthan (“Gadepan-III Plant”) in November.
  • Jet Airways Limited share prices were down 2% in late morning trade as the debt-ridden airline company delayed the payment to a consortium of Indian banks led by the State Bank of India.
  • Steel Strips Wheels Limited registered 17% growth in net revenue for December at Rs148.46 crore versus Rs127.32 crore in the same period a year ago. The gross revenue of the company was up 12.39% on yoy basis in December.
  • Calls for Tomorrow :
  • CALL: SELL TATAMOTORS EQ BELOW 167.60 TARGETS 165.90/164.25/162.55 SL 169.30
    Description
    : Stock heading towards its key support on daily chart & rally is expected below the mentioned level.
  • CALL: SELL TATAMTDVR EQ BELOW 90 TARGETS 89.10/88.20/87.30 SL 90.90
    Description: Stock heading towards its immediate support on daily chart and breakout is expected below 90.
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Stock Market News and Analysis: Benchmark Indices have ended the day off low points, but still in the red followed by weak global and domestic cues impacted on the indices. Nifty give up 10,800 mark and ended at 10792.50 and for coming session its key support is at while on...
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