Stock Market News and Analysis:

Equity benchmark ended higher but off day’s high on the back of last hour selling pressure. Among sectors, IT has outperformed the other indices followed by auto, infra, metal and pharma, while selling was seen in the FMCG stocks. Nifty closed at 11426.85 and for coming session its key support is at 11370 while on higher side its key resistance is at 11500.

 

Headlines for the day:

  • Ujjivan Financial Services Limited board announced an interim dividend of 85 paise per share of Rs10 each.
  • Sun Pharmaceutical Industries Limited promoter Shanghvi Finance Pvt Ltd created a pledge on 41 lakh shares.
  • Reliance Industries Limited seeks to raise 150 million euros through debt instruments.

Key stocks:

  • Tech Mahindra Limited share prices were trading higher after the company’s board granted approval for the acquisition of K-Vision Co Ltd. through its wholly owned subsidiary Mahindra Engineering Services (Europe) Limited.
  • IDBI Bank share prices surge 1% intraday after the Reserve Bank of India (RBI) classified the bank as private lender post Life Insurance Corporation of India (LIC) took over control of the bank.
  • Glenmark Pharmaceuticals Inc., USA has been granted final approval by USFDA for Clindamycin and Benzoyl Peroxide Gel, 1%|5%, a generic version of BenzaClin1 Gel, 1%|5%, of Valeant Bermuda. Reacting to this, shares of Glenmark Pharma gained 2% in Friday’s morning trade.
  • Jubilant FoodWorks Limited stock was in focus as Delhi High Court stayed an order of National Anti-Profiteering Authority against the company and penalty proceeding, subject to deposit of Rs20 crore on Central Consumer Fund.
  • Coal India Limited informed that the company’s board has approved the second interim dividend of Rs5.85/equity share for FY19. The interim dividend has been approved with the face value of Rs10 as recommended by the audit committee of Coal India Limited in its meeting held on March 14.
  • Vedanta Limited’s Zambia unit halted copper-shaft operations after the contractor unsuccessful to secure funds to pay workers. The contractor has unsuccessful in its efforts to secure funding from banks, as reported newspaper News Digge
  • NHPC Limited stated that its board has approved raising around $100 million from MUFG Bank, Japan’s largest bank, to partly finance its ongoing projects. The company’s board, which met Friday, has approved raising of fund through external commercial borrowing in JPY equivalent to $100 million from MUFG Bank to part finance the capital expenditure on on-going projects, other permissible activities.
  • Calls for Tomorrow :
  • CALL: SELL STRTECH EQ BELOW 229 TARGETS 226.70/224.40/222.10 SL 231.30
    Description
    : Stock heading towards its immediate support with heavy sell side volume and rally is expected below the mentioned level
  • CALL: SELL ABFRL EQ BELOW 226 TARGETS 223.70/221.45/219.20 SL 228.30
    Description: Stock heading towards its immediate support on daily chart and settled with bearishly bias. Hence breakout is expected below 226
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Vernal Equity Trading Tips & Fundamental Newshttp://www.trifidresearch.com/blog/wp-content/uploads/2019/03/Sensex_BSe_NSe_MArkets_Stocks_up_356x200_3804_356.jpghttp://www.trifidresearch.com/blog/wp-content/uploads/2019/03/Sensex_BSe_NSe_MArkets_Stocks_up_356x200_3804_356-300x200.jpgRajnish Singhequity tipsequity tips,Equity Trading Tips,Free Equity tIps,Free Equity Trading Tips,Live Equity Trading Tips,Online Equity Trading Tips,Online Stock Tips,stock tips,stock trading tips
Stock Market News and Analysis: Equity benchmark ended higher but off day's high on the back of last hour selling pressure. Among sectors, IT has outperformed the other indices followed by auto, infra, metal and pharma, while selling was seen in the FMCG stocks. Nifty closed at 11426.85 and for...
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