Stock Market News and Analysis:

Equity benchmarks ended lower on volatile day with Nifty failed to hold 11,750 mark. Among the sectors, barring infra all other indices ended in red led by pharma, IT, auto, FMCG and bank. Nifty closed at 11724.75 and for coming session its key support is at 11650 while on higher side its resistance is at 11800.

Headlines for the day:

  • Escorts Limited Agri Machinery Segment reported a fall of 14.9% at 5,264 tractors in April 2019 against 6,186 tractors sold in April 2018.
  • Lupin Limited, in alliance with Natco Pharma, received US Food & Drug Administration approval for Bosentan tablets, used to treat hypertension.
  • Coal India’s April coal production increased by 1% on yoy basis to 45.29 million tonnes. Coal offtake rose 2.6% to 52.35 million tonne

Key stocks:

  • Kansai Nerolac Paints Limited registered a decline in net profit by 12% to Rs92.8 crore during Q4FY19. The company had registered a net profit of Rs105.81 crore in the corresponding period a year ago.
  • Jet Airways share prices were trading 17% down after report suggested that bidders of the debt-laden airline failed to submit their expression of interest. As per the report, three of the four qualified bidders—TGP Capital, Etihad Airways and Indigo—failed to ink mandatory nondisclosure agreements for due diligence, with less than 10 days remaining for the final submission of bids
  • Dabur India Limited registered a decline in net profit by 6% at Rs371.49 crore during the quarter ended March 31, 2019, as compared to Rs397.18 crore during the same period last year.
  • TVS Motor reported a growth of 5% with sales increasing to 318,937 units in April 2019 from 304,795 units in April 2018. Total two-wheelers reported a growth of 4% at 305,883 units in April 2019 vs. 293,418 units in April 2018. Domestic two-wheeler sales registered a growth of 3% from 241,604 units in April 2018 to 248,456 units in April 2019.
  • MRF registered a 15% fall in its consolidated net profit to Rs293.83 crore during Q4FY19. The company had posted a net profit of Rs345.32 crore in the corresponding period a year ago. Revenue rose 6% to Rs4,073.45 crore during Q4FY19 from Rs3,835.5cr a year ago.
  • Bajaj Auto reported a growth of 2% yoy in its total sales for April 2019 at 423,315 units compared to 415,168 units in year ago on the back of the highest ever exports of motorcycle and commercial vehicles..
  • Bandhan Bank’s Net Profit for Q4FY19 grew by 67.78% to Rs 651crore. The banks’s Net lnterest Income for the quarter increased by 45.60% at Rs1,258 crore versus Rs864 crore in the corresponding quarter of the previous year.
  • Calls for Tomorrow : 
  • CALL: SELL IBULHSGFIN EQ BELOW 670.60 TARGETS 663.85/657.15/650.45 SL 677.35
    Description
    : Stock heading towards its immediate support and expected to give negative breakout. Hence breakout is expected ahead.
  • CALL: SELL ASIANPAINTS EQ BELOW 1425.80 TARGETS 1411.50/1397.25/1383 SL 1440.10
    Description: Stock heading towards its key support on daily chart and settled with bearish bias. Hence rally is expected below the mentioned level.
Most Profitable Equity Tips & Fundamental http://www.trifidresearch.com/blog/wp-content/uploads/2019/04/local-elections-updates-and-analysis-header.pnghttp://www.trifidresearch.com/blog/wp-content/uploads/2019/04/local-elections-updates-and-analysis-header-300x254.pngRajnish Singhequity tipsFree Stock Tips,Live stock tips,Online Stock Tips,stock tips
Stock Market News and Analysis: Equity benchmarks ended lower on volatile day with Nifty failed to hold 11,750 mark. Among the sectors, barring infra all other indices ended in red led by pharma, IT, auto, FMCG and bank. Nifty closed at 11724.75 and for coming session its key support is...
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