Stock Trading Tips & Fundamentals News

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Stock Trading Tips & Fundamentals News

Stock Market News and Analysis: Equity benchmark ended with marginal gains in a volatile trade ahead of Union Budget to be presented on July 5. Among sectors, barring metal and pharma all other indices ended higher led by the auto, PSU bank, energy, FMCG, IT and infra. Nifty closed at 11946.75 and for coming session its key support is at 11900 while on higher side its resistance is at 12000.   Headlines for the day:
  • Bharat Financial Inclusion Limited record date for amalgamation.
  • Steel Strips Wheels Limited June total wheel rims sales were down 10% at 11.28 lakh.
  • Vedanta Limited awarded 10 exploration blocks in India at a total bid cost $245 million.
Key stocks:
  • Adani Enterprises Limited share prices surged 1% in afternoon trade after the Cabinet has approved the Ministry of Civil Aviation’s proposal to privatize three out of six state airports on Wednesday.
  • Cox & Kings Limited shares prices are locked at lower circuit with pending sell orders of 5,120,165 shares and no buyers available. The company defaulted in the payment of interest on NCDs worth Rs7.2 crore which were due on June 30. The principal amount of NCDs stood at Rs300 crore.
  • The USFDA has rapped Aurobindo Pharma Limited for repeated violations of the current good manufacturing practice compliance levels at its facilities. The US Food and Drug Administrationrecently issued a warning letter to the firm after inspecting its active pharmaceutical ingredient facility (Unit XI) in Andhra Pradesh’s Srikakulam district and stated that CGMP observations were similar in nature as those made at other facilities.
  • IndiaMart InterMesh Limited listed on the stock bourses. The IPO of IndiaMart InterMesh received bids for 9.74 crore shares, as per NSE data showed. The IPO was subscribed 36.21 times on the last day.
  • L&T has acquired equity shares to an extent 60.06% of the total shareholding of the company and has acquired control and is categorised as Promoter pursuant to SEBI (issue of Capital and Disclosure Requirements) Regulations, 2018.
  • Tata Motors Limited Share prices surged 3% intraday after its luxury car maker JLR showed improvement in UK sales, though on a low base. UK-based Jaguar Land Rover sold 9,433 vehicles in June, higher by 5% over 8,984 vehicles sold in the same month previous yea
  • Kolte-Patil Developers Limited has announced the signing of three new projects in Pune under the development management model. The projects are strategically located at Wagholi in East Pune and Kiwale and Ravet in West Pune and have the saleable potential of 1.2mn square feet with over 1,250 units to be developed.
  • Calls for Tomorrow :
  • CALL: SELL IGL EQ BELOW 301.10 TARGETS 298.05/295.05/292.05 SL 304.15 Description: Stock settled near its key support on daily chart with bearishly bias. Hence rally is expected below the mentioned level.
  • CALL: SELL TATAGLOBAL EQ BELOW 267.50 TARGETS 264.80/262.15/259.45 SL 270.20 Description: Stock form consolidation near its immediate support and settled with bearishly bias. Hence breakout is expected ahead.
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