Profitable Equity Trading Tips & Fundamental Updates 14th May
Stock Market News and Analysis:
Equity benchmarks ended in the green after falling for nine consecutive sessions. Among sectors barring IT that fell over 1%, all sectoral indices were trading in the green. PSU Bank index surge about 3%. Nifty closed at 11222.05 and for coming session its key support is at 11150 while on higher side its resistance is at 11300.
Headlines for the day:
- NIIT Technologies Limited completes divestment of stake in ESRI India.
- Vodafone Ideas Q4FY19 net loss stood at Rs4,881.9 crore.
- Jet Airways share prices tanked 11% after CEO, CFO resign
- Siemens registered a PAT for the second quarter of Financial Year 2019 at Rs280 crore, which is rose by 27.6% over the same period last year. Revenue stood at Rs3,461 crore, a 9.4% increase over the corresponding quarter of the previous year.
- Aurobindo Pharma Limited share prices declined 1% after the company clarified that various US states have filed a 2nd lawsuit alleging the company and other drug makers had violated antitrust laws by fixing prices and allocating customers.
- Engineers India share prices surged higher after the company inked a contract with Mangol Refinery for providing its PMC Services for the construction of Crude Oil Refinery plant in Mongolia.
- Lupin Limited informed that the company has received the Establishment Inspection Report from the United States Food and Drug Administration for the Post-Marketing Adverse Drug Experience inspection, indicating successful closure of the inspection.
- The open offer of Larsen & Toubro Limited to buy Mindtree Limited shares has been postponed as the engineering major is yet to get a nod from the Securities and Exchange Board of India (SEBI).
- Karnataka Bank reported an all-time high annual net profit of Rs477.24 crore for the FY19, with a growth rate of 46.57%. The previous highest net profit of Rs452.26 crore was posted during the year 2016-1
- Godrej Industries registered a consolidated Profit after Tax (PAT) of Rs423.65 crore for the quarter ended March 2019. The company had reported a PAT of Rs178.3 crore in the January-March quarter a year ago.
- Calls for Tomorrow :
- CALL: SELL ACC EQ BELOW 1563.55 TARGETS 1547.90/1532.25/1516.60 SL 1579.20
Description: Stock heading towards its immediate support on daily chart and settled with bearishly bias. Hence rally is expected below the mentioned level
- CALL: SELL PIDILITIND EQ BELOW 1131 TARGETS 1119.65/1108.35/1097.05 SL 1142.35
Description: Stock heading towards its immediate support settled with bearish bias. Hence breakout is expected ahead.