Live Equity Trading Tips and Fundamental Report
Stock Market News and Analysis:
Equity benchmark ended at record closing highs as the three-day Monetary Policy Committee meeting started. The decline in crude oil prices, stronger rupee and expectation of rate cut after weak Q4 GDP data boosted sentiment. Nifty closed at 12088.55 and for coming session its key support is at 11200 while on higher side its resistance is at 12150.
Headlines for the day:
- Biocon Limited fixed June 13 as the record date for issue of bonus shares.
- Ceat Limited inked a power purchase agreement with Greenzest, by setting up a captive solar plant in Maharashtra.
- NTPC Limited commissioned Unit-1 off 800 MW of Gadarwara Super Thermal Power Station.
- TVS Motor Company reported a fall in sales by 1% at 3.07 lakh units in May 2019 versus 3.09 lakh units in the month of May 2018. The Company’s total exports increase by 11% from 62,218 units registered in the month of May 2018 to 69,319 units in May 2019. Two-wheeler exports grew by 11% increasing from 51,904 units in May 2018 to 57,519 units in April 2019. Three-wheeler was increased by 9% increasing from 11,730 units in May 2018 to 12,780 units registered in May 2019.
- Ashok Leyland Limited stated that its domestic sales increased by 6% to 12,778 units in May 2019 versus 12,077 units in May 2018. The company sold 13,172 units in May, which was lower by 4% against 13,659 units sold in the same month last year.
- Bajaj Auto Limited registered a 3% growth in its total sales at 4.19 lakh units for May, against 4.07 lakh units sold in the same month last year. The domestic sales up 5% to 2.35 lakh units versus 2.24 lakh units while exports were slightly up by 1% to 1.83 lakh units against 1.82 lakh units.
- Hero MotoCorp share prices were trading 4% higher on after the company sold 652,028 units of motorcycles and scooters in May 2019, which is higher by 13.5% compared to 574,366 units of two-wheelers sold in April.
- Indian Oil Corporation Limited has reduces Aviation Turbine Fuel price for the first time in the last five months. Accordingly, Aviation Turbine Fuel price reduction were seen at the highest rate in Kolkata and the least at the National Capital.
- Aurobindo Pharma shares prices declined around 5% intraday on June 3 after detailed USFDA observations for company’s unit-3. CNBC-TV18 accessed Form 483 issued by US Food and Drug Administration to company’s unit-3 after inspection during May 13-24, 2019.
- Mahindra & Mahindra Benefit Trust today sold 1.92 crore shares of Mahindra & Mahindra, amounting to Rs1,244 crore. The buyer is CDPQ, an institutional investor that manages funds for several public and para-public organizations, mainly pension and insurance plans, in Quebec, Canada.
- Calls for Tomorrow :
- CALL: BUY DABUR EQ ABOVE 412 TARGETS 416.15/420.25/424.40 SL 407.85
Description: Stock heading towards its key resistance on daily chart and settled with bullish bias. Hence rally is expected above the mentioned level.
- CALL: SELL INFRATEL EQ BELOW 267 TARGETS 264.30/261.65/258.95 SL 269.70
Description: Stock heading towards its immediate support and settled with bearish bias. Hence breakout is expected ahead.