Profitable Stock Trading Tips | Fundamental Updates
Stock Market News and Analysis:
Equity benchmark ended flat in volatile session with Nifty finished just above 10,650 level. Among the sectors FMCG, energy and pharma witnessed some selling pressure, while buying seen in IT, bank and metal stocks. Nifty closed at 10651.80 and for coming session its key support is at 10580 while on higher side its key resistance is at 10730.
Headlines for the day:
- Rana Kapoor, Madhu Kapur of Yes Bank agree to appoint nominees on bank’s board
- L&T proposed to sell up to 30lakh shares its equity stake in L&T Technology Services.
- Asian Paints begins commercial production of its Andhra Pradesh paint factory from January 29.
- Coal India share prices were trading higher after the company announced that its board would consider a buyback proposal on Feb 4, 2019. Accordingly, the company’s board will approve buyback of the fully paid-up equity shares of the company having a face value of Rs 10 each.
- Indian Oil Corporation share prices declined 2% in intraday trade after the company reported a weak set of numbers for Q3FY19. The share prices declined after the oil major reported a 90% decline in PAT in Q3FY19.
- Jubilant Foodworks Limited share prices surged 3% after the company posted strong set of numbers for the quarter, Q3FY19, ahead of estimates on the profitability fronts. Revenue for the quarter clocked 16.8% yoy to Rs929.1cr ore, in-line with the estimate. EBITDA jumped by 24.6% yoy to Rs170.6cr, 7.5% ahead of estimates.
- Bajaj Finance share prices were trading higher after the company’s net profit for Q3FY19 beat the consensus estimates by 6%. The company reported its net profit at Rs1,060 crore against Rs690cr, up 53.6% yoy.
- Bosch Limited share prices surged 2% ahead of the company’s buyback offer which will open on Feb 6 and close on Feb 20. The buyback is of 10.27 lakh equity shares of Rs10 each of the company at a price of Rs21,000 per equity share.
- Bajaj Auto share prices witnessed a slump of 2% during trading hours despite posting a 16% rise in net profits. Revenue also rose 16%, a marginal rise over the street estimates of Rs7,361crore.
- Oil Corporation share prices declined 2% in intraday trade after the company posted a weak set of numbers for Q3FY19. The share prices fell to a low of Rs132.70 on the BSE after the oil major reported a 90% decline in PAT in Q3FY19.
- Calls for Tomorrow :
- CALL: BUY BANKINDIA EQ ABOVE 100.20 TARGETS 101.20/102.20/103.25 SL 99.20.
Description: Stock heading towards its immediate resistance on daily chart and breakout is expected above 100.20.
- CALL: SELL BIOCON EQ BELOW 641 TARGETS 634.55/628.15/621.75 SL 647.45.
Description: Stock heading towards its immediate support on daily chart and rally is expected below the mentioned level.