High Accuracy Stock Tips & Fundamentals News
Stock Market News and Analysis:
Equity benchmarks ended higher for the fourth consecutive day with Nifty closed around 11,050 level. Among sectors metal, IT, auto and pharma witnessed selling pressure, while some buying was seen in the bank, FMCG and infra sectors. Nifty closed at 11058.20 and for coming session its key support is at 11000 while on higher side its key resistance is at 11120.
Headlines for the day:
- Raymond Limited terminated a development management agreement with subsidiary Colorplus Realty Limited.
- Cyient Limited selected by UK Power Networks to develop an outage planning portal.
- Oriental Bank of Commerce stated that the RBI levied a penalty of Rs2 crore delayed implementation of SWIFT-related operational controls.
- Reliance Capital Limited is in the process of monetizing its entire 42.88 percent stake in Reliance Nippon Life Asset Management Limited, which at the current market price, is valued at over Rs5,000 crore.
- Larsen & Toubro share prices are trading higher after the company’s construction arm received orders for its Buildings & Factories, Metallurgical & Material Handling and GeoStructure businesses across varied states in India.
- HDFC has declared an interim dividend of Rs3.50 for the financial year ended March 31. The objective of payment of interim dividend is to distribute dividends received by the Corporation from its subsidiary companies during the year to the Corporation’s shareholders.
- Vedanta Limited informed that the company’s board has granted approval for the second interim dividend of Rs1.85/equity share for FY19 amounting to the total payout of Rs685 crore. The record date for the purpose of payment of dividend is March 14, 2019.
- Biocon Limited informed that the United States Food and Drug Administration has issued 6 observations in Form 483 after pre-approval inspection of its insulin drug substance manufacturing facility in Bengaluru.
- Tata Motors Limited has announced its partnership Delhi-based Wise Travel India for the supply of the Tigor electric vehicles. The Indian auto giant has inked an MoU with WTi and will be deploying the Tigor EVs in its fleet used in ground transportation for people in the B2B space.
- Tata Power Company Limited crossed the seven-lakh consumer base milestone in Mumbai. The Company has made Mumbai EV ready by setting up 15 charging stations and also set up charging stations in Delhi & Hyderabad.
- Calls for Tomorrow :
- CALL: BUY HDFCBANK EQ ABOVE 2130 TARGETS 2151.30/2172.60/2193.90 SL 2108.70
Description: Stock heading towards key resistance on daily chart and settled with bullishly bias. Hence rally is expected above the mentioned level.
- CALL: SELL ZEEL EQ BELOW 454 TARGETS 449.45/444.90/440.35 SL 458.55
Description: Stock retrieve from its resistance level on daily chart and settled near its immediate support with bearishly bias. Hence breakout is expected below 454.