Stock Market News and Analysis:

Equity benchmark registered strong recovery from the day’s low point with Nifty able to close above 10,700 level. Among the sectors metal, pharma, auto and FMCG witnessed selling pressure, while some buying was seen in energy and infra stocks. Nifty closed at 10724.40 and for coming session its key support is at 10650 while on higher side its key resistance is at 10800.

Headlines for the day:

  • Glenmark Pharmaceuticals Limited approved to spin off the innovation business into a new company in the USA.
  • PNC Infratech Limited arm got the financial closure from NHAI for HAM Project in Uttar Pradesh whose bid cost was Rs 2,159 crore.
  • Kumar Infraprojects Limited received order worth Rs445 crore for Mumbai Metro Rail Project.

Key stocks:

  • Lupin Limited informed that the company has launched Clobazam Oral Suspension 2.5mg/mL after having received approval from the United States Food and Drug Administration earlier.
  • Jet Airways Limited share prices surged 4% in intraday trade after its board approved a debt resolution plan. The airline company is all set to receive an emergency loan of Rs600 crore to tide over a cash crunch.
  • Alembic Pharmaceuticals Limited has received approval from the United States Food and Drug Administration for its ANDA Moxifloxacin Ophthalmic Solution USP, 0.5%. The approved ANDA is therapeutically equivalent to the reference listed drug product Vigamox Ophthalmic Solution USP, 0.5%, of Novartis Pharmaceuticals Corporation.
  • ONGC share prices extended its early morning gains after the company registered a 65% growth in net profit to Rs8,262.70 crore for the quarter ended December 31 compared to the same period of the previous year, with higher oil prices offsetting a fall in production.
  • Bharat Dynamics Limited share prices soared 14% in intraday trade as the company’s profits skyrocketed 2,947% in Q3FY19. The company registered strong results for Q3FY19. Total revenues from operating activities witnessing a strong growth of 26.2% yoy to Rs1,038 crore as compared to Rs822.5 crore in Q3FY18. The operating profit came in at Rs312.2 crore as against Rs 44.5 crore in Q3FY18.
  • JK Tyre share prices were trading 3% higher after the company’s board approved the issue of equity shares at Rs2 each to the promoter group on preferential basis. Approval has been granted at such price as may be determined in accordance with SEBI Regulations, up to an amount aggregating to Rs200cr subject to such approvals as may be required.
  • Siemens Limited stated that it will sell its leasehold interest in Gujarat property for Rs193.5crore to LM Wind Power Blades. The company stated that this proposal in subject to receipt of statutory and regulatory approvals and signing of form agreements between both parties.

Calls for Tomorrow :

  • CALL: BUY RECLTD EQ ABOVE 124.50 TARGETS 125.75/127/128.25 SL 123.25.
    Description
    : Stock heading towards its key resistance trend-line on daily chart and rally is expected above the mentioned level.
  • CALL: BUY ADANIPORTS EQ ABOVE 354.60 TARGETS 358.15/361.70/365.25 SL 351.
    Description: Stock heading towards its key resistance on daily chart and breakout is expected above 354.60.
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Fundamental Report on Stock Trading by Experthttp://www.trifidresearch.com/blog/wp-content/uploads/2019/02/stock-market-price-ticker-display-1024x538.jpghttp://www.trifidresearch.com/blog/wp-content/uploads/2019/02/stock-market-price-ticker-display-300x300.jpgRajnish Singhstock tipsFree nifty tips,Free Stock Tips,NIFTY TIPS,stock tips
Stock Market News and Analysis: Equity benchmark registered strong recovery from the day's low point with Nifty able to close above 10,700 level. Among the sectors metal, pharma, auto and FMCG witnessed selling pressure, while some buying was seen in energy and infra stocks. Nifty closed at 10724.40 and for...
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