Stock Market News and Analysis:

Equity benchmarks ended lower but off day’s low after RBI cut repo rate by 25 bps to 6% on as expected and kept the stance unchanged to Neutral. Among sectors, barring auto, FMCG and pharma, all other indices ended in red led by bank, IT and energy. Nifty closed at 11598 and for coming session its key support is at 11550 while on higher side its key resistance is at 11665.

 

Headlines for the day:

  • Board of CEAT Limited approved the acquisition of arm CEAT Specialty Tyres with self.
  • Shriram Transport Finance Limited Board approves raising up to $2 billion through global MTNs and $750 million through overseas debt.
  • Tata Global Beverages Limited stated that its Russian arm has been liquidated consequent to the completion of the restructuring.

Key stocks:

  • SRF Limited share prices surged 4% after the company informed about the┬áresumption of operations at Chemicals Complex, Dahej, Gujarat. A revocation order dated April 03, 2019 has been issued by Gujarat Pollution Control Board and in compliance with the said order, the site should resume operations at the earliest.
  • Tata Motors Limited were trading 2% higher after reports suggested that Jaguar Land Rover US sales showed sequential improvement in March. As reports, on a sequential basis (MoM), sales grew by 13.4% in the North America market. JLR, with 25% of sales from the US market, had sold 11,616 units in February 2019.
  • Indiabulls Housing Finance Limited share prices surged higher on plans to borrow Rs26,000 crore in FY19 after raising Rs17,300 crore in FY18 to meet profit target. Reacting to this, shares prices gained around 4% from previous close.
  • Godrej Properties Limited informed that the company has formed a Joint Venture with a renowned developer to develop a 4.25 acres sea-facing property in the prime suburban micro-market of Bandra West, Mumbai.
  • Shares of GRUH Finance Limited surged higher in intraday trade on Thursday after the company received approval for the┬áscheme of amalgamation of it with Bandhan Bank.
  • L&T shares prices surged around 1% after its hydrocarbon engineering business received contracts across business segments. The modular fabrication business of L&T was awarded a contract for Process (PAU) and Piperack (PAR) modules for a process plant, which includes procurement, fabrication, precommissioning and load-out of the module
  • Initial public offering worth Rs 1,346-crore of Polycab India, the wires and cables manufacturer, will open for subscription on April 5. The Initial Public Offer consists of fresh issue as well as offer for sale.
  • Calls for Tomorrow :

  • CALL: SELL BHARATFIN EQ BELOW 1095 TARGETS 1084.05/1073.10/1062.15 SL 1106
    Description
    : Stock heading towards its key support on daily chart settled with bearishly bias. Hence rally is expected below the mentioned.
  • CALL: SELL BANKBARODA EQ BELOW 130 TARGETS 128.70/127.40/126.10 SL 131.30
    Description: Stock heading towards its immediate support on daily chart and settled with bearishly bias. Hence breakout is expected ahead.
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Stock Market News and Analysis: Equity benchmarks ended lower but off day's low after RBI cut repo rate by 25 bps to 6% on as expected and kept the stance unchanged to Neutral. Among sectors, barring auto, FMCG and pharma, all other indices ended in red led by bank, IT...
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