Equity Fundamental Market Report | Equity Tips


Equity Fundamental Market Report | Equity Tips

Stock Market News and Analysis:

Benchmark Indices traded in a narrow range throughout the day, with Nifty finished above the 12,000-mark for the first time since June 03. Nifty closed at 12012.05 and for coming session its key support is at 11950 while on higher side its resistance is at 12100

Headlines for the day:

  • L&T has appointed MSTC as the selling agent for sale of scrap articles.
  • Canara Bank revised the marginal cost of funds based lending rate of with effect from Nov 07.
  • Punjab National Bank Gilts Board approves raising up to Rs500 crore through commercial papers. 

Key stocks:

  • InterGlobe Aviation Limited inked a one-way codeshare agreement with Qatar Airways. With the sale starting from November 07, the one-way codeshare agreement between the two carriers will enable Qatar Airways to place its code on IndiGo flights between Doha and Delhi, Mumbai and Hyderabad.
  • Sun Pharmaceuticals registered a consolidated net profit of Rs1,065 crore as against a loss of Rs269.6 crore yoy. Income from operations stood at Rs7,949 crore, a hike of 16% over the same quarter last year. India sales came in at Rs2,515 crore, a hike of 35% yoy over Q2 last year. US finished dosage sales stood at $339 million, flat over Q2 last year.
  • Tata Steel Limited posted a consolidated net profit for the Sept. quarter at Rs3,302.31 crore, which grew 6% on the back of one-time deferred tax gain of Rs4,365.33 crore. Total revenue declined 15.4% to Rs 34,579.18 crore during the quarter from Rs40,897 crore in the year earlier.
  • Indiabulls Housing Finance Limited reported a decline of 32% in its consolidated net profit of Rs 702.18 crore in the second quarter ended September 30 versus a net profit of Rs1,034.9 crore during the corresponding quarter of the previous financial year.
  • Hindustan Petroleum reported a standalone net profit of Rs1,052.31 crore, which was down by 4% for the quarter ended September 30. The company had reported a net profit of Rs1,091.98 crore in the corresponding quarter last year.
  • Philips Carbon Black stated that its Netherland arm has been liquidated in accordance with local laws of Netherlands. An intimation to this effect will also be sent to the Reserve Bank of India.
  • Kalpataru Power Transmission Ltd's consolidated revenue increased by 29% yoy to Rs3,216 crore on strong focus on execution in Q2FY20. Revenue for H1FY20 increase by 31% yoy to Rs5,987 crore. Core EBITDA margin at 13.1% in Q2FY20 and 13.1% in H1FY20.

 Calls for Tomorrow:

  • CALL: BUY WIPRO EQ ABOVE 261 TARGETS 263.65/266.25/268.85 SL 258.35 Description: Stock form consolidation along with V-shape pattern on daily chart. Hence rally is expected above the mentioned level.
  • CALL: BUY INDIGO EQ ABOVE 1503 TARGETS 1518.05/1533.10/1548.10 SL 1487.95 Description: Stock form consolidation and settled with bullishly bias near its key resistance on daily chart. Hence breakout is expected ahead.
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