Online Equity Tips For Make Higher Profits
Stock Market News and Analysis:
Benchmark Indices revert gains in late trade as Nifty ends below 11,650 after hitting all time high. All the sectoral indices ended in red led by PSU bank followed by infra, pharma, IT, energy, auto, metal and FMCG. Nifty closed at 11643.95 and for coming session its key support is at 11570 while on higher side its key resistance is at 11730.
Headlines for the day:
- Jet Airways limited stated that additional 15 aircraft have been grounded due to non-payment of dues to lessors.
- Wipro Limited completed the divestment of its workday and cornerstone on-demand business to Alright Solutions, receiving $95.27 million out of the total $100million.
- Biocon to sell and transfer drug substance business to its wholly owned biologics unit for Rs33.3 crore.
- Amara Raja Batteries extended a decline in today’s session. The company stated that it has terminated shareholder’s agreement between Galla Family and Johnson Controls and consequent termination of other agreements entered by the Company with JC.
- Lupin Limited declared tthat the successful completion of the United States Food and Drug Administration (USFDA) inspection at its Lupin Bioresearch Centre (LBC) without any observations.
- The independent director’s committee of Mindtree’s has appointed Khaitan and Co. as the legal advisor and ICICI Securities Ltd as the financial advisor for making recommendations to the company’s shareholders on the open offer to be launched by Larsen and Toubro Ltd.
- Bharat Forge Limited prices were trading in the negative note in the early morning trade after a decline in Class 8 truck orders in North America. North American freight carriers ordered 15,700 Class 8 trucks.
- Jet Airways Limited share prices were trading 3% down after the company informed that it has grounded 15 more planes due to non-payment of rentals. However, the airline did not disclose its current fleet size in a filing released after markets hours to the exchanges.
- Marico Limited stated that during the fourth quarter they have witnessed stable demand conditions and healthy offtake growth on the back of the competitive strength of the franchise.
- Reddy’s Laboratories Limited informed that the company’s wholly owned subsidiary, Promius Pharma has announced sale and assignment of the US rights for its marketed dermatology brands to Encore Dermatology.
- Calls for Tomorrow :
- CALL: SELL PFC EQ BELOW 119 TARGETS 117.80/116.60/115.40 SL 120.20
Description: Stock heading towards its immediate support on daily chart settled with bearishly bias. Hence breakout is expected below 119.
- CALL: SELL GRASIM EQ BELOW 828 TARGETS 819.70/811.40/803.15 SL 836.25
Description: Stock settled with bearishly bias near its immediate support on daily chart. Hence breakout is expected ahead.