WEEKLY EQUITY NEWSLETTER
15th Nov 2019 to 22th Nov 2019
*After posting the worst quarterly loss in India’s corporate history, Vodafone Group Plcs besieged local venture is appealing for urgent relief from the government to help avert a collapse and took a one-time charge related to a $4 billion demand from the government for overdue fees, leading to a net loss of 509 billion rupees ($7.1 billion) in the three months through September, the company reported FRIDAY after the market closed.
*The Supreme Court allowed Arcelor to make the payment for Essar Steel India Ltd. and set aside a bankruptcy appellate tribunal’s order that had given secured and unsecured creditors equal right over the sale proceeds. The lenders’ panel of a bankrupt company has discretion in the distribution of funds in insolvencies, a three-judge bench headed by Justice Rohinton F Nariman said Friday
*Most brokerages have maintained a bullish stance on Sunil Mittal-controlled Bharti Airtel despite the company posting a mammoth pre-tax loss of Rs 31,334 crore for the September 2019 quarter (Q2FY20). The loss is due to a provision for outstanding payments to the central government on account of the Supreme Court judgment on adjusted gross revenues (AGR). The pre-tax loss in the year-ago quarter stood at Rs 1,998 crore.
*Shares of Divis Laboratories climbed 5 per cent to Rs 1,736 in the intra-day trade on the BSE on Friday after the company announced that the US health regulator FDA issued no 483 observations for its Unit-1 facility in Telangana. The stock of the drug maker was trading close to its 52-week high price of Rs 1,776, touched on October 27, 2019.
*ONGC: State-owned Oil and Natural Gas Corporation (ONGC) on Thursday reported a 36.2 per cent drop in second quarter net profit as it faced double whammy of fall in oil production and drop in prices.
*Union Bank: State-owned Union Bank of India on Thursday reported a net loss of Rs 1,194 crore for July-September due to higher provisioning. The bank had a net profit of Rs 139 crore in the same quarter of 2018-19.
NIFTY TOP GAINERS/LOOSERS
Recommendation: - NIFTY IS VOLATILE FROM TRENDLINE REVERSAL AND AND PIVOT INDICATOR SHOW SELL SIGNAL. SO, TRADER CAN SELL BELOW 11880 TGT -11830 TG-11780 TG 11730-SL-11950
Recommendation: - NIFTY BANK UP PIVOT INDICATOR SHOWS BREAKOUT RESISTANCE BUY SINGLE. SO, TRADER CAN MAKE THEIR POSITION BUY ABOVE 31230 TGT-31333 TG-31430 TG-31530 SL-31080
CALL OF THE WEEK:-
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT BULLISH TREND CANDLE BREAKOUT SHOW BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY ABOVE 324 TGT 328 TGT 332 TG 336 SL 318
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT MAKING FLAGCHART BREAKOUT SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY 294 TGT- 297 TG-301 TG- 305 SL 288
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