Stock Market News and Analysis:

Equity benchmark witnesses a volatile session but managed to end higher. Among sectors, buying was seen in the energy, bank, IT, infra, and metal, while FMCG, auto and pharma remained under pressure. Nifty closed at 10844.65 and for coming session its key support is at 10740 while on higher side its resistance is at 10900.

 

Headlines for the day:

  • Bajaj Energy got SEBI approval for Rs5,450 crore Initial Public Offering.
  • Tata Communications stated that Neeco Global ICT Services has become a customer of the company, to market digital solutions for enterprises in Europe.
  • Praj Industries Ltd’ proprietary technology to be deployed to produce ethanol and other co-products using sugarcane bagasse in the United States.

Key stocks:

  • BEML share prices were trading higher after company announced disinvestment of its shareholding of 96.56% in M/S Vignyan Industries Limited, a subsidiary of BEML Ltd. The company stated that the Government of Kolkata India vide its letter dated 03.09.2019 has intimated that Expression of Interest/Preliminary Information Memorandum document in respect of disinvestment of shareholding of BEML in VIL.

 

  • Muthoot Finance share prices were trading lower, as the company plans to shut down strike-ridden branches in Kerala. The lender has been facing a protest by certain employees demanding higher wages in several branches in Kerala since August 20, 2019.
  • Lupin Limited and Boehringer lngelheim announced a licensing, development and commercialization agreement for Lupin’s MEK inhibitor compound as a potential targeted therapy for patients with difficult-to-treat cancers..
  • MCX clarified whistle blower complaint is based on factually wrong premise and a clear attempt is made to tarnish the image of the exchange. The company stated that none of the delivery failed on account of any quality parameter in cotton. There is no overall storage capacity issue across warehouses for cotton and gold and the company may initiate appropriate legal actions as well.
  • Bank of Baroda informed that it will raise up to Rs1,132.05 crore by issuing fresh shares to its staff under the Employee Share Purchase Scheme. The bank will issue up to 15 crore share under the ESOP scheme, with a proposed issue price at Rs75.47/share.
  • Sun Pharma share prices declined in the morning after reports stated that SEBI has ordered a forensic audit against the company. As per reports, SEBI has ordered a forensic audit against the company to look into allegations of financial irregularities and lapses in corporate governance standards. Further, SEBI has been poring over the company’s books of accounts to look into red flags raised by the whistle-blower in his complaint
  • Tata Motors share prices continue to remain under pressure, after the company posted very weak sales numbers for August 2019. Tata Motors total sales in August 2019 stood at 32,343 vehicles, compared to 62,688 units during August 2018.
  • Calls for Tomorrow :

  • CALL: BUY RECLTD EQ ABOVE 146.10 TARGETS 147.60/149.05/150.50 SL 144.60
    Description:
    Stock form consolidation and settled near its immediate resistance with bullishly bias. Hence rally is expected above the mentioned level.
  • CALL: BUY PFC EQ ABOVE 105.50 TARGETS 106.60/107.65/108.70 SL 104.45
    Description: Stock settled near its immediate resistance with bullishly bias on daily chart. Hence breakout is expected ahead.
Profitable Equity Tips And Market Updates http://www.trifidresearch.com/blog/wp-content/uploads/2019/08/7.jpghttp://www.trifidresearch.com/blog/wp-content/uploads/2019/08/7-300x300.jpgRajnish Singhequity tipsAccurate Stock Tips,Best Stock tips,Best Way Stock Tips,Online Stock Tips
Stock Market News and Analysis: Equity benchmark witnesses a volatile session but managed to end higher. Among sectors, buying was seen in the energy, bank, IT, infra, and metal, while FMCG, auto and pharma remained under pressure. Nifty closed at 10844.65 and for coming session its key support is...
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