Stock Market News and Analysis:

Equity benchmark ended lower in the volatile trading with Nifty closed below 11,200 mark. Among the sectors, metal index fell 2% followed by infra, auto, FMCG, pharma and bank. Nifty closed at 11222.05 and for coming session its key support is at 11100 while on higher side its resistance is at 11235.

 

Headlines for the day:

  • Wockhardt Limited clarified on the news that US states have filed lawsuit against generic drug firms stating that they have already made the disclosure in the annual report.
  • NTPC bagged 100 Mega Watt of Solar capacities in SECI’s 250 Mega Watt tender in Maharashtra, at a levelized tariff of Rs2.91 per unit, applicable for 25 years.
  • Glenmark Pharmaceuticals Limited denied all allegations against lawsuit filed by U.S. states against generic drug firm 

Key stocks:

  • Lupin’s net profit stood at Rs289.6 crore versus to Rs783.5 crore loss in the same quarter of the previous year. The revenues of the company for Q4 rose to Rs4,406.3 crore in the March quarter versus to Rs4,033.8 crore in the year-ago quarter.
  • Aditya Birla Fashion and Retail Limited reported Profit After Tax for the quarter was 79% higher at Rs203 crore versus Rs113 crore last year. The company registered a robust growth in revenue of 9% from Rs1,754 crore to Rs1,915 crore with a decline in EBITDA in Q4FY19 due to rise in marketing spends in line with our endeavour to strengthen the brands
  • Jubilant FoodWorks Limited informed that the company registered a 9% yoy growth in net profit at Rs74crore for the March quarter of fiscal 2019. The company’s consolidated revenue for Q4FY19 came in at Rs865 crore as compared to Rs779.82 crore for the same quarter last year, registering an 11% yoy increase.
  • Zee Media share prices fell 11% after the company reported a net loss of Rs 86.66 crore versus PAT of Rs11.2 crore a year ago. The revenue of Zee Media tumbled 3.9% in the January-March quarter at Rs169.35 crore, compared to Rs176.22 crore in Q4FY1
  • Karur Vysya Bank’s Q4FY19 net profit increased by 18.7% at Rs60 crore versus Rs50.6 crore during the previous quarter ended March 2018. The bank’s other income was up at Rs272.4 crore in Q4FY19 versus Rs 208.6 crore in Q3.
  • Reddy’s Laboratories informed that the company has launched Daptomycin for Injection, 500mg/vial single-dose vial, a therapeutic equivalent generic version of Cubicin for Injection, approved by the US Food and Drug Administration.
  • Welspun Corp share prices fell 3% after the company in its filing informed that its board approved buyback of its shares at a price of Rs 140 apiece, aggregating of up to Rs 390 crore.
  • Calls for Tomorrow : 
  • CALL: SELL SUNTV EQ BELOW 520.65 TARGETS 515.40/510.20/505 SL 525.90
    Description
    : Stock heading towards its immediate support settled with bearish bias. Hence breakout is expected ahead.
  • CALL: SELL LICHSGFIN EQ BELOW 473.25 TARGETS 468.50/463.75/459.05 SL 478.
    Description: Form consolidation near its immediate support on daily chart and settled with bearishly bias. Hence rally is expected below the mentioned level.
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Stock Market News and Analysis: Equity benchmark ended lower in the volatile trading with Nifty closed below 11,200 mark. Among the sectors, metal index fell 2% followed by infra, auto, FMCG, pharma and bank. Nifty closed at 11222.05 and for coming session its key support is at 11100 while on...
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