Nifty Trading News & Fundamental Analysis
Stock Market News and Analysis:
Benchmark Indices ended lower but off day’s low ahead of F&O expiry. Among the sectors, barring IT all other indices are trading in the red led by infra, PSU Bank, metal, auto, energy, FMCG and pharma. Nifty closed at 11861.10 and for coming session its key support is at 11800 while on higher side its resistance is at 11935.
Headlines for the day:
- DLF transfers Rs330 crore land to Joint Venture with GIC for settlement of dues.
- Mindtree Limited opened its off-shore delivery centre in the US.
- Prestige Estates Projects Limited trades at 52-week high post Q4 numbers.
- Bharti Airtel share prices were trading 3% down after its promoter group firm Bharti Telecom reduced their holding to 41.24%. The decision to reduce stake came on the back of renouncement of 11.34 crore shares by the entity valued at around Rs3,920 crore and Rs25,000 crore rights issue.
- Adani Enterprises Limited posted consolidated net profit higher by 51% at Rs283.4 crore in Q4FY19. The income from operations for the quarter increased 36% to Rs13,237 crore versus Rs9,767 crore for the corresponding period in the previous year.
- Cadila Healthcare net profit declined by 24% at Rs 460.1 crore in March 2019 from Rs606.7 crore in March 2018. The company’s total revenue from operations was up by 15% yoy at Rs3732.8 crore in March 2019 from Rs3237.8 crore in March 2018.
- Power Finance Corporation share prices surged 4% after the company registered a growth of 126.33% yoy in PAT at Rs2,117.36 crore for the final quarter of FY19. The company’s net revenue at Rs7,701.12 crore in March 2019 up 24.97% from Rs6,162.38 crore in Q4FY18. EBITDA stood at Rs7,897.86 crore inQ4FY19 up 35.5% from Rs5,828.54 crore Q4FY19.
- Havells India registered a decline in net profit by 8.4% yoy at Rs206.8 crore for the quarter ended March 2019. The company’s net profit in the corresponding period last fiscal stood at Rs225.8 crore. Revenue of the company during the quarter rose 8.5% to Rs2,751.9 crore compared to the same period last year.
- IRB Infrastructure Developers Ltd has registered a 13% decline in consolidated net profit to Rs208 crore during the quarter ended March 31, 2019, versus Rs 240 crore in the year-ago period. The company’ registered consolidated income of Rs1,999 crore for Q4 and Rs6,903 crore for entire FY19, which is up by 40% and 18% respectively as compared to the corresponding period of FY18
- Sun Pharma share prices erased morning gains. The company’s consolidated revenue increased by 2.7% yoy to Rs7,164 crore against median consensus estimates of Rs7,569 crore. The company posted PAT fell by 52.6% yoy to Rs636 crore versus median consensus estimates of Rs982 crore.
Calls for Tomorrow :
- CALL: BUY SUNPHARMA EQ ABOVE 429 TARGETS 433.30/437.60/441.90 SL 424.70
Description: Stock form consolidation near its key resistance and settled with bullish bias. Hence rally is expected above the mentioned level.
- CALL: SELL ITC EQ BELOW 287 TARGETS 284.10/281.25/278.35 SL 289.90
Description: Stock heading towards its immediate support and expected to give negative breakout.