Stock Market News and Analysis:

Benchmark indices have closed the session on a strong note. There was some weakness seen among energy and metal sectors, along with PSU banks while automobile, banks and consumption stocks rose during the trade. Nifty closed at 10855.15 and for coming session its key support is at 10780 while on higher side its key resistance is at 10900.

Headlines for the day:

  • Triveni Turbine Limited share prices surge 2% as board approves buyback proposal.
  • Tera Software Limited share prices surge 20% on order wins worth Rs325 crore.
  • Media stocks gain after government increases advertisement rates.

Key stocks:

  • Infosys share prices were trading higher after the company announced that its board will meet on January 11 to consider buyback of equity shares and a special dividend. The company’s board in its meeting on April 13, 2018, had approved the capital allocation policy.
  • R System International Limited share prices surged over 18% in morning trade. The stock surged after the company announced that its board of directors will meet to consider the proposal of a share buyback on January 15.
  • Tata Steel Limited registered weak steel sales in Q3FY19 as the slowdown in the domestic auto sector hit its local operations sharply. Production in India in the third quarter of FY19 stood marginally higher (up 1.8% yoy). However, domestic sales shrunk 10% yoy as sluggish auto demand and seasonal weakness dampened activity.
  • Oriental Bank of Commerce has sold 0.8425% equity stakes in NSDL e-Governance Infrastructure Limited out of 3.125% equity stake held by the Bank prior to such sale.
  • The board of directors of state-owned NMDC Limited cleared Rs1,000 crore share buyback proposal. The company fixed record date for buyback of equity shares as, January 18.
  • Kridhan Infra Limitedannounced that its Singapore Subsidiary, together with its step-down subsidiaries, has secured a contract from the Public Utilities Board worth SG$ 32.5mn (Rs167cr).
  • IndusInd Bank has registered a marginal 5 percent on year growth in the third quarter net profit at Rs 985 crore, declined by higher provisions mostly due to IL&FS exposure.
  • Calls for Tomorrow : 
  • CALL: BUY GRANULES EQ ABOVE 91.50 TARGETS 92.45/93.35/94.25 SL 90.55.
    Description
    : Form consolidation near its key resistance on daily chart and rally is expected above the mentioned level.
  • CALL: SELL KPIT EQ BELOW 206 TARGETS 203.90/201.85/199.80 SL 208.10.
    Description: Stock heading towards its immediate support on daily chart and breakout is expected below 206.
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Stock Market News and Analysis: Benchmark indices have closed the session on a strong note. There was some weakness seen among energy and metal sectors, along with PSU banks while automobile, banks and consumption stocks rose during the trade. Nifty closed at 10855.15 and for coming session its key support...
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