Live Equity Trading Tips & Fundamental Updates
Stock Market News and Analysis:
Equities benchmark have ended the session on a flat note, with the Nifty closing above 10,900-mark. Except automobiles, weakness was visible among all sectoral indices, with pain seen among consumption, energy, infrastructure, and metals space. Nifty closed at 10934.35 and for coming session its key support is at 10875 while on higher side its key resistance is at 11000.
Headlines for the day:
- Coal India Limited to buyback up to 4.47 crore shares at Rs235 each.
- Ashok Leyland Limited acquired 4.50 lakh shares, constituting 11.25% in the paid-up share capital of Ashley Aviation
- Tech Mahindra posted 13% profit on QoQ basis, revenue surges 3.6%.
- CESC Limited shares prices surged 1% in intraday. Revenue for Q3FY19 dropped by 0.4% yoy to Rs1,707 crore EBITDA stood at Rs202 crore, down 35.7% yoy against estimates of Rs388 crore.
- BHEL share prices declined significantly in intraday trade even after the company reporting a strong performance in Q3FY19. BHEL shares tanked to a low of Rs 56.20, a drop of nearly 13% from its previous closing.
- Punjab National Bank share prices surged in the afternoon session after reporting profit in Q3FY19. The bank reported a net profit of Rs246.5crore for the December quarter. The bank posted a net loss of Rs 5,225.8 crore for the nine months ended December 31, 2018
- Jubilant Food Works share prices declined 5% in morning after a PTI report suggested that the company was found guilty of not passing on the goods and services tax cut benefit of Rs41.42 crore on sale of some products and has been directed to deposit the illegal gains with the government.
- Bharat Financial Inclusion Limited completed its seventh direct assignment transaction of Rs751crore. With this, the company said direct assignment transactions worth Rs 5,448.4 cr have been completed in financial year 2019.
- Mahindra & Mahindrastated that the company will offer pro-active inspection of Rear Axles on its Imperio vehicles manufactured between April to June last year. Inspection to be carried out free of cost and the company also stated that this action is in compliance with SIAMs voluntary code on voluntary recall
- Board of HEG Limited has approved the appointment of Gulshan Kumar Sakhuja as Chief Financial Officer of the company while group arm-Bhilwara Energy’s Chief Executive Officer OP Ajmera will also become the group CFO.
- Calls for Tomorrow :
- CALL: BUY UPL EQ ABOVE 800 TARGETS 808/816/824 SL 792
Description: Stock heading towards its key resistance on daily chart and rally is expected above the mentioned level.
- CALL: BUY SRF EQ ABOVE 2045 TARGETS 2065.45/2085.90/2106.35 SL 2024.55.
Description: Stock heading towards its immediate resistance on daily chart and breakout is expected above 2045.