Stock Market Research & Analysis Report
Stock Market News and Analysis:
It’s a good end to the trade with the Nifty closing above 10,550. In terms of sectors, infra, energy, banks, metals, and automobiles were the top gainers, while selling was seen in the pharmaceuticals’ sector. Nifty closed at 10582.50 and for coming session its key support is at 10500 while on higher side its key resistance is at 10650.
Headlines for the day:
- Lupin Limited announced the launch of Atovane Oral Suspension USP launches in the U.S., after having received an approval from USFDA earlier.
- Shree Cement Limited to add capacity in two plants located in Jharkhand and Odisha. The combined capacity addition will be 5.5 MTPA with a total investment of Rs903 crore.
- HCL Technologies declared the partnership with NetBrain Technologies to offer network visibility and network automation capabilities for enterprise IT teams.
- IndusInd Bank stated that its agreement to fully acquire IL&FS Securities Services Limited has been terminated due to non-fulfillment of conditions. IndusInd Bank had inked a share purchase agreement with Infrastructure Leasing and Financial Services Ltd to acquire its subsidiary in the business of securities services.
- Aurobindo Pharma Limited entered into an agreement to purchase research and development assets from Australia based Advent Pharma, which deals in complex specialty generics. The total investment for this acquisition is pegged at $12.5 million.
- Suven Life Sciences Limited has got one product patent from Australia and another product patent from Hong Kong for the treatment of disorders associated with Neurodegenerative diseases. The patents are valid till 2036 and 2033.
- InvaGen Pharmaceuticals, a subsidiary of Cipla Limited declared that it has entered into definitive agreements with two closing stages for a proposed acquisition of US-based Avenue Therapeutics. Avenue is a Fortress Biotech company that focuses on the development and commercialization of intravenous Tramadol.
- NBCC Limited has got a letter of appointment from the Ministry of AYUSH, Govt of India, for the planning, designing, & construction of All India Institute of Ayurveda, Yoga, and Naturopathy in Goa.
- Jet Airways Limited share prices surged 6% in early morning trade but are now trading up 4%. The stock surged as the airline major announced a disappointing set of numbers for Q2FY19 yesterday.
- Cadila Healthcare Limited clarified that on the news of Kerala regulator finds three drugs of sub-standard quality that Zipcet tablets were recalled by the company on June 29 and the batch was manufactured following current good manufacturing practices and released for sale only after batch meeting the pre-defined specifications, including dissolution.
Calls for Tomorrow :
- CALL: BUY IOC EQ ABOVE 142.70 TARGETS 144.15/145.55/147 SL 141.25
Description: Stock heading towards its immediate resistance on daily chare and rally is expected above the mentioned level.
- CALL: BUY VOLTAS ABOVE 546.20 TARGETS 551.70/557.15/562.60 SL 540.70
Description: Stock heading towards its immediate resistance on daily chart and breakout is expected above 546.20.