Stock Market News and Analysis:

Equity benchmark erased all its intraday gains and ended in red on the back of last hour selling pressure. Barring IT index, all other sectoral indices closed in red led by Nifty PSU bank, energy, auto, infra, pharma and metal. Nifty closed at 10793.65 and for coming session its key support is at 10750 while on higher side its key resistance is at 10900.

Headlines for the day:

  • Vijaya Sampath of DHFL has resigned as the Independent Director with effect from February12.
  • Shares of Oil India surge 4% as Q3 profit jumps 43%.
  • L&T Construction secured order for construction of hospitals.

Key stocks:

  • JSW Steel Limited has got a Letter of Intent from Bhushan Power and Steel, declaring it the highest bidder for the stressed asset. Report stated that JSW Steel has to review the approved resolution plan sent along with the letter before accepting the offer.
  • Zydus Cadila has got the final approval from the US Food & Drug Administration to market Triamterene and Hydrochlorothiazide Capsules USP, 37.5mg/25mg. It will be manufactured at the group’s formulations manufacturing facility at SEZ, Ahmedabad.
  • Strides Pharma Science Ltd announced that its step-down, wholly-owned subsidiary Strides Pharma Global Pte Ltd, Singapore, has received the US health regulator’s US Food & Drug Administration approval for Triamcinolone Acetonide Cream USP, 0.025%, 0.1%, and 0.5%.
  • JK Paper share prices surged 2.5% in intraday trade after the company registered strong growth in Q3FY19 on Tuesday evening. The company’s shares climbed to a high of Rs140.5O after it posted a stellar 72% rise PAT in Q3FY19.
  • Bata India share prices surged rose over 3% to hit a fresh 52-week high of Rs 1,235 on February 13 after the company posted a strong performance in the December quarter with revenues growing 15.5% and operating profit margin improving 450 bps.
  • Alembic Pharmaceuticals Limited announced that its wholly owned step down subsidiary Orit Laboratories LLC has received approval from the US Food & Drug Administration for its ANDA Fenofibrate Tablets USP, 54mg and 160mg.
  • Bharat Forge Limited has posted healthy 35.9% on year growth in third quarter profit, driven by healthy truck orders and operating income. Other income and forex gains also boosted profitability. Profit for the quarter grew to Rs 309.8 crore from Rs 228 crore in same period last year.

Calls for Tomorrow :

  • CALL: SELL GLENMARK EQ BELOW 593 TARGETS 587.05/581.10/575.20 SL 599.
    Description
    : Stock heading towards its immediate support on daily chart and rally is expected below the mentioned level.
  • CALL: BUY UPL EQ ABOVE 828.50 TARGETS 836.80/845.10/853.40 SL 820.20.
    Description: Stock heading towards its major resistance on daily chart and hovering near 52 week high. Breakout is expected above 828.50.
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Today's Fundamental Analysis of Equity Markethttp://www.trifidresearch.com/blog/wp-content/uploads/2019/02/shutterstock_692837767-1024x640.jpghttp://www.trifidresearch.com/blog/wp-content/uploads/2019/02/shutterstock_692837767-300x300.jpgRajnish Singhequity tipsFree nifty tips,Free Stock Tips,NIFTY TIPS,stock tips
Stock Market News and Analysis: Equity benchmark erased all its intraday gains and ended in red on the back of last hour selling pressure. Barring IT index, all other sectoral indices closed in red led by Nifty PSU bank, energy, auto, infra, pharma and metal. Nifty closed at 10793.65 and...
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