Stock Market News and Analysis:

Equity Benchmark ended higher but off day’s high on with Nifty finished above 11,000 level lifted by the infra, metal and banking stocks. Nifty closed at 11029.40 and for coming session its key support is at 10935 while on higher side its resistance is at 11100.

 

Headlines for the day:

  • Godrej Industries Limited Board approved de-merger of wholly-owned arm Ensemble Holdings & Finance from the company.
  • Infosys LImited to deliver digital solutions to Toyota Material Handling North America.
  • Gayatri Projects stated that its JV with IL&FS Engineering & Construction Company has won an arbitration claim worth Rs914.3 crore for a project in Nagaland.

Key stocks:

  • Jindal Steel & Power Limited share prices surged 10% after the company posted its Q1FY20 results. Consolidate revenue rose 2.9% yoy to Rs9,945 crore Consolidate net loss was Rs87.4 crore versus net profit of Rs109.9 crore for Q1FY18.

 

  • Wockhardt Limited posted its Q1FY20 net loss at Rs44.98 crore. The business performance of the Company during the quarter ended June 30, 2019, showed improvement in EBITDA by 93% from Rs29 crore in Q1FY19 to Rs56 crore in Q1FY20 driven by Remedial cost reduction and overall cost rationalisation.
  • Manappuram Finance Limited posted a 36% rise in its PAT to Rs272.23 crore on a consolidated basis during the first quarter ended June 30. It had posted a net profit of Rs199.99 crre during the April-June period of the previous fiscal.
  • Edelweiss Financial Services Limited posted its results for Q1FY20. The company also made an announcement regarding US-based Kora Management’s plan to invest around Rs875 crorer in the group. For the quarter ended Jun’19, the company posted total revenue of Rs2,546 crore.
  • Glenmark Pharma reported its Q1FY20 results post market hours. The pharma major’s consolidated net profit came in at Rs109.28 crore for the first quarter ended June 30, 2019 versus Rs232.99 crore in the same period of previous year.
  • Apollo Hospitals share prices surged higher after the company posted stellar Q1FY20 earnings on a consolidated basis. On a consolidated basis, the net profit doubled to Rs49.15 crore during the quarter as compared to Rs23.34 crore during the corresponding quarter of the last fiscal.
  • Sun Pharmaceutical Industries Limited announced that it has entered into a global licensing agreement with the CSIR Indian Institute of Chemical Technology, Hyderabad (CSIR-IICT), for patents related to certain compounds with potential therapeutic activity across multiple indications in Sun Pharma’s specialty focus areas.
  • Calls for Tomorrow :

  • CALL: BUY NMDC EQ ABOVE 105.35 TARGETS 106.40/107.50/108.55 SL 104.30
    Description:
    Stock settled near its key resistance with bullishly bias on daily chart. Hence rally is expected above the mentioned level.
  • CALL: BUY TECHM EQ ABOVE 622.50 TARGETS 669.15/675.75/682.40 SL 655.90
    Description: Stock heading towards its immediate resistance on daily chart and settled with bullishly bias. Hence breakout is expected ahead.
Indian Equity Trading Tips And FundamentalRajnish Singhequity tipsAccurate Stock Tips,Best Stock tips,Best Way Stock Tips,Online Stock Tips
Stock Market News and Analysis: Equity Benchmark ended higher but off day's high on with Nifty finished above 11,000 level lifted by the infra, metal and banking stocks. Nifty closed at 11029.40 and for coming session its key support is at 10935 while on higher side its resistance is at...
Share