Stock Market Trading Tips & Fundamental News| Stock Tips
Stock Market News and Analysis:
Equity benchmark ended higher on the rangebound day with Nifty able to hold above 11,000 mark. Among sectors, energy, IT and FMCG witnessed selling pressure, while metal, auto, bank and infra has outperformed. Nifty closed at 11035.70 and for coming session its key support is at 10950 while on higher side its resistance is at 11100.
Headlines for the day:
- Sun Pharmaceutical Industries raised stake in PJSC Biosintez Of Russia to 100% from 96.96% through purchase of shares.
- Glenmark receives ANDA approval for Clobetasol Propionate Foam.
- HCL Tech to acquire Sankalp Semiconductor.
- Reddy’s announced the launch of Fosaprepitant for Injection, the therapeutic generic equivalent of EMEND (fosaprepitant) for injection, approved by the U.S. Food and Drug Administration.
- Tata Motors Group global wholesales in August 2019, were at 72,464 units, including Jaguar Land Rover, which was declined by 32% over August 2018. Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in August 2019 were at 25,366 units, down by 45% over August 2018.
- JSW Steel stated that its crude steel production down 13% to 12.53 lakh tonne in the quarter ended August 2019. The company had produced 14.48 lakh tonnes during the corresponding period a year ago.
- BHEL has successfully commissioned the 1,320MW IB Thermal Power Station. Located in Jharsuguda district of Odisha, the project is owned by Odisha Power Generation Corporation Limited.
- Kalpataru Power Transmission Ltd’s promoters have sold 69 lakh equity shares, representing 4.46% of Kalpataru Power’s equity shares, for an aggregate realization of Rs306cr. The liquidity through sale proceeds will enable the Promoters in making investments in privately-held businesses to capitalize on growth opportunities, reducing pledged shares and other purposes.
- Reliance Nippon promoter Reliance Capital looking to sell up to 3.15% of equity through OFS for over Rs505 crore. The sale for retail investors will open on September. 12. The offer opens today for non-retail investors.
- Indiabulls Real Estate Limited looking to sell stake in four joint-ventures to Blackstone Group at an aggregate equity value of Rs 4,420 crore. The deal is subject to closing adjustments.
- Calls for Tomorrow :
- CALL: BUY PEL EQ ABOVE 1990 TARGETS 2009.90/2029.80/2049.70 SL 1970.10
Description: Stock settled near its immediate resistance trend line with bullishly bias on daily chart. Hence breakout is expected ahead.
- CALL: BUY MARUTI EQ ABOVE 6650 TARGETS 6716.50/6783/6849.50 SL 6583.50
Description: Stock surged higher since couple of session settled near its major resistance with bullishly bias on daily chart. Hence rally is expected above the mentioned level.