Stock Market News and Analysis:

Equity benchmark continued to gain for third straight session, driven by banks, FMCG and IT stocks. Sectoral indices were mixed with Auto declined 1% while Nifty Bank gained 165 points. Nifty closed at 11687.0 and for coming session its key support is at 116500 while on higher side its resistance is at 11750.

Headlines for the day:

  • NMDC Ltd sends termination notice to BHEL on delay of Rs1,395 crore RMHS order.
  • Dilip Buildcon Limited Joint Venture wins order for building bridge
  • DHFL Ltd will be excluded from the equity derivatives segment on the NSE from September 27.

Key stocks:

  • Larsen & Toubro Infotech has inked a definitive agreement to acquire Lymbyc Solutions, headquartered in Bangalore along with additional offices in Chennai and Texas, US at enterprise value of Rs 38 crore.
  • Tata Elxsi share prices were down after falling close to 4% intraday on weak Q1 numbers. The company reported a 31.6% yoy decline in profit at Rs48.8 crore and 10.7% yoy fall in revenue at Rs361.7 crore in Q1FY20
  • Strides Pharma Science Ltd were trading under pressure on the stock exchanges after the reports stated that USFDA has found adulteration and “significant violations” of current good manufacturing practice regulations at the company’s plant in Puducherry in South India.
  • Sadbhav Infrastructure Project share prices declined 5% in the morning trade. The company stated that its collection of toll revenue from its 10 operational Special Purpose Vehicles has rose by around 2.3% to Rs281.26cr in Q1FY20 from Rs274.99cr in Q1FY19. The company’s toll revenue from its Ahmedabad Ring Road Infrastructure in Q1FY20 has declined by around 2.7% to Rs23.23 crore from Rs23.88 crore in Q1FY19.
  • KNR Constructions Limited share prices are trading higher by 3% as the company received orders worth Rs847.3crore from Navayuga Engineering Company Limited, Hyderabad.
  • DCB Bank share prices are tanked as its Q1 numbers disappointed. The bank’s net profit rose 16.63% at Rs81cr in Q1FY20 versus Rs70 crore in Q1FY19 on the back of higher net interest income and other income
  • Cox & Kings staed that it has defaulted on its repayment obligations on commercial papers worth Rs45 crore, while interest of Rs41 lakh could not be paid timely on bonds worth Rs50 crore.
  • Calls for Tomorrow :

  • CALL: BUY DMART EQ ABOVE 1475 TARGETS 1489.75/1504.50/1519.25 SL 1460.25
    Description
    : Stock surged higher and settled near its immediate resistance on daily chart with bullish bias. Hence breakout is expected ahead.
  • CALL: SELL APOLLOTYRE EQ BELOW 183.90 TARGETS 182.05/180.20/178.35 SL 185.75.
    Description: Stock form consolidation on daily chart and settled with bearishly bias near its key support. Hence rally is expected below the mentioned level.
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Stock Market News and Analysis: Equity benchmark continued to gain for third straight session, driven by banks, FMCG and IT stocks. Sectoral indices were mixed with Auto declined 1% while Nifty Bank gained 165 points. Nifty closed at 11687.0 and for coming session its key support is at 116500 while...
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