Market Updates For Equity Trading
Stock Market News and Analysis:
Benchmark indices traded mixed amid profit booking after the week long bull rally and ended flat although the data of IIP and CPI-based inflation was supportive for the market as industrial activity rose to a 13-month high of 5.7% in November and CPI inflation in December declined to 3.41% from 3.63% in the previous month.Nifty ended the session to close 8420.50.
The FMCG stocks were the major gainers of the day while IT stocks were the losers for the day.
Headlines for the day:
- Lupin announced that company had launch generic MS Contin ER tablets in US.
- Tata Coffee plans to set up a freeze-dried coffee plant in Vietnam.
- FMCG outperforms; Kaveri Seeds up by 5 percent.
- Maruti to launch SUV Ignis today; stock ends in red zone.
- Bajaj Corp gains after announces growth prospects.
- Infosys announced its Q3 result. Posted a better-than-expected 7 percent rise in third-quarter profit that was helped by new client wins. The company has lowered the upper limit of its revenue guidance to 8.8 per cent in constant currency (CC) terms from 9% earlier.
- Cadila’s subsidiary company Zydus Pharma which is a global pharmaceuticals company, have finalized an agreement with Upsher-Smith Laboratories Inc., to settle the patent litigation with reference to Qudexy capsules.
- Mastek shares moved higher after company has completed the acquisition of 100 percent equity shares of Trans American Information Systems and consequently, it has become a wholly owned subsidiary of the company.
- Siemens, a conglomerate that operates in power and gas, energy management, building technologies, mobility, digital factory, process industries and drives, healthcare, metal technologies has won order worth Rs 319 crore from Diesel Locomotive Works.
- Gruh Finance Ltd reported December quarter net profit of 640.4 million rupees and total income from operations is 81 billion rupees.
- Shipping Corporation of India Ltd Seeks members’ nod for redeployment of 3.30 billion rupees received as refund from Shipyards.
Calls for Tomorrow
- CALL: BUY DATAMATICS EQ ABOVE 139.70 TARGETS 141.10/142.50/144 SL 138.30.
- CALL : BUY ESCORTS EQ ABOVE 360.65 TARGETS 364.25/367.90/371.60 SL 357.
RECLTD EQ heading towards its fresh 52-weeks high breakouts could be seen in coming session.
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