Stock Market News and Analysis:

Benchmark indices close flat after gave up all its intraday gains in the final hour of trading. Among sectors, IT, FMCG, metal, and pharma ended in red, while some buying seen in the bank, auto, energy and infra. Nifty closed at 11712.25 and for coming session its key support is at 11650 while on higher side its resistance is at 11800.

 

Headlines for the day:

  • Tata Motors Limited domestic commercial and passenger vehicles sales declined 20% to 42,577 units.
  • DLF transferred a retail mall in Noida to one of its subsidiaries for Rs2,950 crore.
  • Standard Life (Mauritius Holdings) to sell 1.78% stake in HDFC Life Insurance.

Key stocks:

  • Cadila Healthcare stated that the US Food & Drug Administration inspected the company’s formulations manufacturing facility located at Moraiya, Ahmedabad from April 22, 2019, to May 3, 2019. The inspection concluded with 14 observations.

 

  • Hindustan Unilever Limited’s registered a growth in net profit by 14% at Rs1,538 crore for the March quarter on a yoy basis. The company had registered a profit of Rs1,351 crore in the same quarter of the previous year.
  • Godrej Consumer Products Limited has registered a 52% growth in its Q4FY19 net profit at Rs935.2 crore against Rs617.19 crore in a year ago period. However, its revenue fell by 3% at Rs 2,452.6 crore against Rs2531.15 crore in Q4FY18.
  • Cipla share prices rose after the company stated that the company and its subsidiary Cipla USA, Inc., announced a phased launch of generic cinacalcet hydrochloride tablets (30mg, 60mg and 90mg) in the USA. The launch is a subject of ongoing litigation.
  • Bombay Dyeing & Manufacturing share prices surged 6.5%. The company has registered profit of Rs1,253.33 crore in Q4FY19 against loss of Rs159.38 crore in Q3FY19. Revenue of the company increased to Rs2,786.36 crore against Rs413.32 crore on qoq basis.
  • L&T Infotech reported 30.8% qoq growth in consolidated PAT for Q4FY19 at Rs378.50 crore versus Rs289.40 in the same period a quarter a year ago. Even after this, share prices of the company declined 3% The company’s revenue grew 24.2% qoq at Rs2,486 crore during Q4FY19 as compared to Rs2,001.2 crore in Q4FY18 on the back of the robust growth in banking and financial services and insurance business.
  • Hero MotoCorp reported a decline of 17.2% and sold 5.74 lakh units in the month of April, versus 6.94 lakh units in the same month last year. Even after the challenging market conditions, Hero MotoCorp registered over 7.8 million unit sales in the recently concluded the financial year 2019 (April 1, 2018- March 31, 2019)
  • Calls for Tomorrow :

  • CALL: SELL PETRONET EQ BELOW 232.20 TARGETS 229.85/227.55/225.20 SL 234.55
    Description
    : Stock heading towards its key support on daily chart and settled with bearish bias. Hence rally is expected below the mentioned level.
  • CALL: SELL APOLLOTYRE EQ BELOW 201 TARGETS 199/196.95/194.95 SL 203.05
    Description: Stock heading towards its immediate support and expected to give negative breakout. Hence breakout is expected ahead.
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 Stock Market News and Analysis: Benchmark indices close flat after gave up all its intraday gains in the final hour of trading. Among sectors, IT, FMCG, metal, and pharma ended in red, while some buying seen in the bank, auto, energy and infra. Nifty closed at 11712.25 and for coming...
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