Stock Market News and Analysis:
Equity benchmark ended flat with Nifty managed to hold above 12,000 level. Among sectors, barring infra, metal and energy other indices ended in the red led by the auto, IT, pharma, FMCH and bank. Nifty closed at 12048.20 and for coming session its key support is at 12000 while on higher side its resistance is at 12100.
Headlines for the day:
- Bajaj Auto records 12% decline in Nov. domestic sales.
- Sun Pharma share prices declined over 2% after updating on anti-trust litigation in US.
- M&M recorded total sales at 41,235 vehicles for November 201
- The IPO of Ujjivan Small Finance Bank has been subscribed 81% so far on Dec. 2, Day 1 bidding. NSE data showed that the offer has received bids for 10.03 crore equity shares against the IPO size of 12.39 crore shares.
- TVS Motor’s sales in November dropped by 17% at 2.66 lakh units as against sales of 3.19 lakh units in November 2018. Shifting of Diwali season to the earlier month and planned adjustment of BS IV stocks is reflecting in the sales growth difference between Nov. 2018 and Nov. 2019.
- NCC Limited informed that it has received one new order for Rs243 crore in the month of November 2O19. This order pertains to Roads Division and is received from a State Government agency and does not include any internal order.
- Hero MotoCorp Limited, sold 516,775 units of motorcycles and scooters in the month of November 2019 versus 610,252 in November 2018, registering a decline of 15.3% yoy. Sales in the scooter category halved yoy, while exports rose 16% yoy.
- Ashok Leyland's total M&HCV sales came in at 5,321 units as against 8,260 units in November 2018. Total vehicle sales for the November 2019 stood at 9,377 units as against 12,570 units in the same period last month.
- Dilip Buildcon Limited is up 1% after the company announced that it has received the letter of acceptance on November 29, from Uttar Pradesh Expressways Industrial Development Authority for an EPC project.
- Alembic Pharmaceuticals announced that its joint venture Aleor Dermaceuticals Limited has received tentative approval from the USFDA for its Abbreviated New Drug Application (ANDA) Diclofenac Sodium Topical Solution USP, 2% w/w.
Calls for Tomorrow:
- CALL: BUY PIDILITIND EQ ABOVE 1327.50 TARGETS 1340.80/1354.05/1367.35 SL 1314.20 Description: Stock form consolidation near its key resistance on daily chart and settled with bullishly bias. Hence rally is expected above the mentioned level.
- CALL: SELL NTPC EQ BELOW 114.80 TARGETS 113.65/112.50/111.35 SL 115.95 Description: Stock settled near its major support with bearishly bias on daily chart. Hence breakout is expected ahead.