WEEKLY EQUITY NEWSLETTER
11TH OCT TO 18TH NOV 2019
*Indias Yes Bank Ltd., the worlds worst-performing lender in 2019, has posted the globes biggest gain over the past month.
Its shares have rallied about 50 per cent -- the biggest gain among global peers valued at more than $1 billion -- after embattled founder Rana Kapoor was forced to sell his holdings in October and a new management team promised fresh capital and lower bad loans. The surge helped pare the annual loss in the Mumbai-based lenders shares to 63 per cent.
*Shares of Ashok Leyland slipped up to 7.2 per cent to Rs 71 in the morning deals on the NSE on Monday, after the company reported weak September quarter earnings. The commercial vehicle major logged a 97 per cent drop in standalone profit before tax at Rs 19.11 crore during Q2FY20, as compared to Rs 670.8 crore during same quarter last year.
*Shares of Amara Raja Batteries surged 7 per cent to Rs 699 on the BSE on Monday, after the company reported 370 bps improvement in EBITDA (earnings before interest, tax, depreciation and amortisation) margin at 17.2 per cent in the September 2019 quarter (Q2FY20) on account of softer commodity prices. In comparison, the S&P BSE Sensex was down 0.16 per cent at 40,260 points at 09:39 am.
*Indiabulls Real Estate Ltd (IBREL) has reported nearly four-fold jump in its consolidated net profit at Rs 301.16 crore for the second quarter of this fiscal year.
Its net profit stood at Rs 75.91 crore in the year-ago period.
*Indias largest drugmaker, Sun Pharmaceutical Industries, is expanding in the Japanese market when most of its peers have indicated they are not bullish on it.
*State-owned Oil India Ltd on Saturday reported a 27.2 per cent drop in its net profit at Rs 627.23 crore in the second quarter ended September 2019.
The company had registered a net profit of Rs 862.01 crore in the corresponding period of the previous fiscal. Total income fell to Rs 3,481.52 crore during Q2 FY20 from Rs 4,031.41 crore in same period of FY19, Oil India said in a regulatory filing
*Private sector Lakshmi Vilas Bank (LVB) on Saturday reported widening of net loss to Rs 357.18 crore for the second quarter ended September. The bank had posted a net loss of Rs 132.31 crore in the July-September of 2018-19. The loss widened sequentially also as it had registered a Rs 237.26 crore loss in June quarter this fiscal.
*Jet Airways, Naresh Goyal under SFIO probe for siphoning off money
The probe agency has found that the companys vast network of sales agents across the globe was not independent of Jet Airways and several of these entities were linked to its founder, Naresh Goyal
NIFTY TOP GAINERS/LOOSERS
Recommendation: - NIFTY IS REVERSE FROM SUPPORT LEVEL AND TRENDLINE ANDPIVOT INDICATOR SHOW BUY SIGNAL. SO, TRADER CAN BUY ABOVE 11940 TGT -11990 TG-12040 TG 12090-SL-11870
Recommendation: - NIFTY BANK UP PIVOT INDICATOR SHOWS BREAKOUT RESISTANCE BUY SINGLE. SO, TRADER CAN MAKE THEIR POSITION BUY ABOVE 31220 TGT-31320 TG-31420 TG-21520 SL-31070
CALL OF THE WEEK:-
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT BULLISH TREND 52 WEEK HIGH BREAKOT SHOW BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY ABOVE 499 TGT 405 TGT 411 TG-417 SL 490
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT MAKING MARUBUZO AND FLAGCHART BREAKOUT SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY 944 TGT- 953 TG-965 TG- 980 SL 930
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