Fundamental Report & Stock Market Analysis
Stock Market News and Analysis:
Benchmark Indices closed the session with cuts of over half a percent. Automobiles, Banks, consumption, and IT were the top losers, while Pharma and metals were the gainers. Nifty closed at 10831.40 and for coming session its key support is at 10750 while on higher side its key resistance is at 10900.
Headlines for the day:
- Karur Vysya Bank’s Q3 net profit declined sharply by 70.3% YoY to Rs 21.2 crore, dented by higher provisions and tepid NII growth.
- Axis Bank shares prices declined on the back of dilution of shareholding by Specified SUUTI.
- L&T Hydrocarbon Engineering secured mega order from Sonatrach Algeria.
- Lupin Limited announced that it has received approval from the United States Food and Drug Administration (USFDA) to market a generic version of Alvogen’s Fluoxetine Tablets, 60mg.
- HEG share prices were trading in the green after the company posted solid net profit growth in its Q3FY19 results. The HEG stock soared after the company’s net profit zoomed 153% in Q3FY19.
- Tata Motors Limited informed that global wholesales in Jan 2019, including Jaguar Land Rover, declined by12% year on year in Jan 2019 to 1,00,572 units. Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in Jan 2019 were at 40,886 units.
- Dilip Buildcon Limited share prices surged 4% after the company completed rehabilitation and up-gradation of NH-18 from 108km/850km to 160km/200km in Andhra Pradesh.
- Reliance Capital informed that its Reliance General Insurance Company has filed the draft red herring prospectus with the Securities and Exchange Board of India. Even after this news, shares of the company slumped in morning trade.
- Alembic Pharmaceuticals Limited informed that Aleor Dermaceuticals, a 60:40 Joint Venture between Alembic Pharmaceuticals Ltd. and Orbicular Pharmaceutical Technologies Pvt. Ltd has received two observation from the United States Food and Drug Administration.
- Eicher Motors consolidated numbers in Q3FY19 were lower than the consensus expectations. Consolidated revenue in the quarter was in-line with expectation at Rs2,341.06 crore, up 3.2% yoy. EBITDA declined 3.9% yoy to Rs679.50crore.
Calls for Tomorrow :
- CALL: SELL LUPIN EQ BELOW 805 TARGETS 796.95/788.90/780.85 SL 813.05
Description: Stock heading towards its major support on daily chart and rally is expected below the mentioned level.
- CALL: BUY EICHERMOT EQ ABOVE 21460 TARGETS 21674.60/21889.20/22103.80 SL 21245.40.
Description: Stock heading towards its immediate resistance on daily chart and breakout is expected above 21460.