Equity Fundamental News And Equity Trading Tips


Equity Fundamental News And Equity Trading Tips

Stock Market News and Analysis:

Equity benchmark reversed morning losses to close marginally higher with the Nifty decisively holding 11,000 level, led by banks and auto stocks. Nifty closed at 11047.80 and for coming session its key support is at 10920 while on higher side its resistance is at 11150.

Headlines for the day:

  • HEG Ltd Q1 Consolidated profit declined 68.6% to Rs 243.5cr vs. Rs 775.7cr, revenue declined 48.6% to Rs 816.5cr vs. Rs 1,587.4cr YoY.
  • Reliance CapitalQ1 Consolidated profit at Rs 1,233cr vs. Rs 272cr, revenue increases to Rs 6,069cr vs Rs 4,619 crore YoY.
  • Jain Irrigation SystemsQ1 Consolidated profit declined to Rs 22.08cr vs. Rs 81.75 cr, revenue dips to Rs 1,891.32cr vs. Rs 2,061.07 cr YoY.

Key stocks:

  • Indraprastha Gas Ltd limited share prices were trading up after Q1 numbers. On a consolidated basis, company posted a 31.14% yoy growth in net profit to Rs245.04 crore. The total income increased 22.84% yoy to Rs1,779.47 crore in Q1FY20

  • YES Bank Limited pursuant to the allotment of its equity shares on August 15, has raised Rs1,930 crore via the QIP route. The Qualified Institution Placement opened on August 08, 2019 and closed on August 14, 2019.
  • Lupin Limited announced that it has got approval for its Hydrocortisone Valerate Cream USP, 0.2 percent from the US health regulator United States Food and Drug Administration (USFDA).
  • KNR Constructions Limited has entered into a share purchase agreement dated August 16, 2019, with Cube Highways and Infrastructure III Pte. Ltd. for KNR Shankarampet Projects Private Limited.
  • IDBI Bank share prices declined10% in early trade. The bank reported its Q1FY20 earnings on August 14. Its consolidated net loss increase to Rs3,821 crore versus net loss of Rs2,383 crore in the year-ago quarter.
  • Dr Reddy's Laboratories Limited share prices declined 1.8% intraday after the management issued a clarification after receiving a Complete Response Letter from the US health regulator over its NuvaRing drug.
  • Grasim IndustriesQ1 Standalone profit plunges 68.6% to Rs 201.7 crore as against Rs 642.5 crore, revenue grew 4.4% to Rs 5,000.6 crore as against Rs 4,789.2 crore YoY. One-time loss of Rs 290 crore on impairment in value of investment in Payment Bank.
  • Calls for Tomorrow :
  • CALL: BUY ITC EQ ABOVE 254 TARGETS 256.55/259.10/261.65 SL 251.45 Description: Stock witnessing correction from 52 week low and settled near its key resistance with bullishly bias on daily chart. Hence rally is expected above the mentioned level.
  • CALL: SELL HDFC EQ BELOW 2092.45 TARGETS 2071.50/2050.60/2029.65 SL 2113.40 Description: Stock settled near its immediate support on daily chart and settled with bearishly bias. Hence breakout is expected ahead.
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