WEEKLY EQUITY NEWSLETTER
4TH OCTOBER TO 11TH OCTOBER 2019
*RBI Monetary Policy: MPC cuts repo rate by 25 bps to 5.15%, cuts FY20 GDP target to 6.1%The Reserve Bank of India has cut its benchmark repo rate by 25 basis points to 5.15 percent, in the fifth straight interest rate cut, The lower repo rate has raised hopes of bringing down EMIs for the millions of borrowers as well cut capital raising costs for corporates, with banks expected to pass on the reduced rates by slashing lending rates for its customers.
*Auto stocks nudged higher after the Reserve Bank of India’s Monetary Policy Committee (MPC) cut policy rates on Friday. The MPC cut the repo rate by 25 basis points to 5.15 percent.
*TVS Motor launches Bluetooth-enabled motorcycle with SmartXonnect technology
BENGALURU: TVS Motor Company Friday announced the new TVS Apache RTR 200 4V with Bluetooth-enabled SmartXonnect mobile application technology.
The motorcycle will be equipped with a connected cluster and a gold finish racing chain, it said in a statement.
*The joint-venture between Mahindra & Mahindra (M&M) and Detroit-based American automaker Ford Motor Company, in which Ford India has transferred its assets to Mahindra & Mahindra.
*Shares of Lakshmi Vilas Bank continued to remain under pressure as they were locked in lower circuit again on October 4, trading near 10-year low after the RBI initiated prompt corrective action (PCA) plan against the lender.
*Shares of Info Edge India gained nearly 6 percent intraday on October 4 after a media report talked about a fundraising plan from Zomato.
*YES banks management confirmed that its financial and operating metrics remain intrinsically sound and stable, with liquidity
position well in excess of regulatory requirements The stock added Rs 3,000 crore to its market capitalization LAST WEEK
*IRCTC IPO oversubscribed by 111 times on last day of bidding
The shareholding of government in the railways tourism and catering subsidiary will be reduced to 87.40 percent.
*Emami Cement is expecting an EV of Rs 6,000 crore via sale process.The deadline for submission of non-binding bids For Emami Cement has ended. Ambuja Cements, UltraTech, Shree Cement, Nirma Group, Dalmia Cement and HeidelbergCement are in the race for Emami Cement.
*RBI Governor Shaktikanta Das on Friday said one should not use one incident to generalize the situation in the entire co-operative banking sector. He said the central bank would not allow any such bank to fail.
Responding to a question on PMC Bank, a corporative bank in the eye of a storm, he said the central bank acted promptly and swiftly with the issue and that EOW is looking at the case.
*European shares rose on Friday as investors were hopeful of further monetary easing from the US Federal Reserve in the wake of poor economic data, while chip stocks nudged higher after a report said Apple was increasing the production of its new iPhone model.
NIFTY TOP GAINERS/LOSERS
Recommendation: - Nifty is BELOW SUPPORT and making SELL so maybe NIFTY SELL BELOW AND MAKE NEW SUPPORT AREA.
CALL: NIFTY SELL BELOW 11200 TGT 11100 TGT 11000 TGT
BANK NIFTY FUT
Recommendation: - Bank Nifty BREAK SUPPORT LEVEL FINDING SUPPORT and making SELL so maybe BANK NIFTY SELL.
CALL: BANK NIFTY SELL BELOW 27800 TGT 27600 TGT 27400 TGT 27200 SL 28100
CALL OF THE WEEK:-
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT SUPPORT REVESAL SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION.
BUY HCLTECH ABOVE 1082 TGT 1102 TGT 1122 TGT 1142 SL 1052
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT BULLISH TREND FINDING RESISTANCE AND MAKING A BUY.
BUY RECLTD ABOVE 154 TGT 157 TGT 160 TGT 163 SL 149
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