Profitable Fundamental Views on Equity Market
Stock Market News and Analysis:
The Nifty has kicked off January series on a strong note followed by Strong global cues, weaker crude as well as strengthening rupee were some of the primary factors behind the market’s rally for consecutive day. Nifty closed at 10859.50 and for coming session its key support is at 10800 while on higher side its key resistance is at 10900.
Headlines for the day:
- Hindustan Construction Company Limited raised Rs498 crore through rights issue.
- Lemon Tree Hotels Limited share prices surges 8% on announcing Joint Venture with Warburg Pincus.
- United Bank of India share prices surged after government funding announcement.
- Future Retail Limitedcontinued its loose for the third consecutive session in an otherwise firm market. The stock fell 14% after the government on Wednesday tightened rules for e-commerce companies.
- Dilip Buildcon Limited shre prices were trading higher after the company executed an agreement with the National Highways Authority of India for a road project worth Rs677.07 crore in Uttar Pradesh.
- United Bank of India share prices were traded in morning session. Shares price surged 8% in morning trade as the bank announced receiving funds worth Rs2,159 crore from Government of India.
- Kansai Nerolac Paints Limited has entered into share purchase agreement to acquire 100% equity stake in Perma Construction Aids Pvt. Ltd for a total consideration of Rs29.1 crore
- Mahindra Holidays and Resorts India Limited (MHRIL) were traded in the green. The shares prices soared 6.5% in intraday trade after the company announced that it would be meeting with its institutional investors HDFC Securities and Franklin Templeton.
- Piramal Enterprises Limitedstated it would raise Rs 590 crore via allotment of secured redeemable non-convertible bonds on a private placement basis. At the meeting of the Administrative Committee of the Board, the committee approved the allotment of 5,900 secured redeemable non-convertible bonds having the face value of Rs 10 lakh only each, aggregating to Rs 590 crore on private placement basis.
- PVR Limited stated that it is planning to raise upto Rs 750 crore through issue of securities to qualified institutional buyers, for which it is seeking shareholders’ nod.
- Calls for Tomorrow :
- CALL: BUY LICHSGFIN EQ ABOVE 492 TARGETS 496.95/501.85/506.80 SL 487.05.
Description: Stock heading towards its immediate resistance on daily and breakout is expected above 492.
- CALL: BUY CADILAHC EQ ABOVE 348 TARGETS 351.50/355/358.45 SL 344.50
Description: Stock retraces from its major support on daily chart and heading towards its immediate resistance. Rally is expected above the mentioned level.