Live Updation For Equity Tips
Stock Market News and Analysis:
Benchmark indices ended lower but off day’s low on the back of buying seen in the last hour of trade. Among the sectors, PSU bank declined above 3% followed by FMCG, auto, infra and pharma, while some buying seen in the IT, energy and metal indices. Nifty closed at 11748.15 and for coming session its key support is at 11650 while on higher side its resistance is at 11860.
Headlines for the day:
- Biocon share prices declined 2% even after strong Q4 earnings.
- Hero MotoCorp Q4 profit after tax declined 25% YoY to Rs730.3 crore.
- HCL Technologies hit 52-week high after entered into a partnership with Cherwell Software.
- Exide Industries Limited registered a growth of 11% in net profit at Rs210.68 crore during the quarter ended March 31, 2019, as compared to Rs189.56 crore during the same period last year. Revenue of the company has grew by 6% to Rs2,598.7 crore from Rs2,459.4 crore over the corresponding quarter ended March 31, 2018.
- Godrej Properties Limited posted 270.5% growth in its March quarter net profit at Rs156.66 crore versus Rs42.28 crore logged in the same period last year. Its total income grew 125.70% to Rs1,203.21cr in Q4FY19 over Rs533.09cr in Q4FY18, on yoy basis.
- A section of Jet Airways’ employees has evinced interest in bidding for the airline and is scouting for investors. The employees have communicated this to state Bank of India chairman Rajnish Kumar, requesting him to consider their bids.
- NHPC inked a Memorandum of Understanding with Indian Army to undertake the construction of semi-underground bunkers and fully underground caverns at different locations in India.
- Yes Bank share prices tanked over 27% in the morning trade after it disappointed with its March quarter numbers. The bank has reported net loss of Rs1,506.6 crore against the consensus estimates of profit of Rs1,050 crore.
- Cipla Limited and its subsidiary Cipla USA, Inc. announce receipt of final approval for the Abbreviated New Drug Application for Ambrisentan Tablets 5mg & 10mg from the United States Food and Drug Administration.
- ITC Limited has filed a petition in the Mumbai High Court, asking to be heard first, should Hotel Leelaventure approach it for relief in the case related to the deal with Brookfield Asset Management that’s in the National Company Law Tribunal.
- Calls for Tomorrow :
- CALL: BUY TECHM EQ ABOVE 840 TARGETS 848.40/856.80/865.20 SL 831.60
Description: Stock settled near its all time high with bullishly bias. Hence rally is expected above the mentioned level.
- CALL: BUY JINDALSTEL EQ ABOVE 179.60 TARGETS 181.40/183.20/185 SL 177.80
Description: Stock heading towards it immediate resistance on daily chart and settled with bullishly bias. Hence breakout is expected ahead.