Stock Market News and Analysis:

Benchmark Indices have ended the week on a negative note, with the nifty giving up 10,800. Barring consumption, all sectoral indices have ended in the red. Nifty closed at 10794.95 and for coming session its key support is at 10730 while on higher side its key resistance is at 10870.

 

Headlines for the day:

  • Container Corporation of India Limited commenced its coastal operations from January 10.
  • NBCC India Limited bagged the total business worth Rs188 crore for December.
  • Praj Industries share prices railed 9% as co expands bio-energy basket by adding compressed bio-gas technology.

Key stocks:

  • Reliance Communication share prices were trading 1% down after reports suggested that the Supreme Court revised an order and directed the company’s Chairman Anil Ambani to appear in the court at the next date of hearing in a contempt case filed by Ericsson over unpaid dues worth over Rs550 crore.
  • Karnataka Bank Limited has posted a whopping 60.6% on year hike in third quarter profit at Rs 140.4 crore, driven by other income and operating income. Asset quality stable but provisions remained elevated.
  • Eveready Industries India share prices surged in morning trade after a media report stated that BM Khaitan’s Williamson Magor is planning to sell its stake in Eveready Industries.
  • TCS share prices declined over 1.5% in the morning even as the firm reported Q3 results in-line with estimates. The IT company posted PAT at Rs8,105 crore, up 2.6% on qoq basis to against the median consensus estimates of Rs8,156 crore.
  • KNR Constructions share prices were trading higher after the company’s arm KNR Shankarampet Projects got the financial closure letter from the National Highways Authority of India for the road project in Telangana.
  • Welspun Enterprises Limited signed pact with Maharashtra Public Works Department to upgrade roads in the state at a bid project cost of Rs1,460 crore and for the first year’s operation and maintenance cost for Rs31.5crore.
  • Reliance Industries Limited to shut down one of its crude distillation units and coker unit at the Jamnagar refinery for maintenance and inspection for four weeks, starting January 16.
  • Calls for Tomorrow :
  • CALL: BUY TECHM EQ ABOVE 701.50 TARGETS 708.55/715.55/722.55 794.45.
    Description
    : Stock heading towards its immediate resistance on daily chart and breakout is expected above 701.50.
  • CALL: BUY UJJIVAN EQ ABOVE 292.20 TARGETS 295.15/298.05/301 SL 289.25.
    Description: Stock form consolidation near its immediate resistance on daily chart and ally is expected above the mentioned level.
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Stock Market News and Analysis: Benchmark Indices have ended the week on a negative note, with the nifty giving up 10,800. Barring consumption, all sectoral indices have ended in the red. Nifty closed at 10794.95 and for coming session its key support is at 10730 while on higher side its...
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