WEEKLY EQUITY NEWSLETTER
10th Jan 2020 to 17TH Jan 2020
Pharma shares in focus; Dr Reddys, Divis, Granules hit 52-week highs, Pharma stocks were in focus on Friday with the Nifty Pharma index gaining nearly 2 per cent on report that brokerage firm Citi has upgraded Dr Reddys to buy from sell and Lupin to neutral from sell. The foreign brokerage also said that valuations of pharma companies look reasonable.At 10:05 am, Nifty Pharma index was the top gainer among sectoral indices and was trading 1.6 per cent up as compared to 0.44 per cent rise in the benchmark Nifty50 index.
Sterlite Technologies advanced 4.4 per cent to Rs 129.8 on the BSE on Friday after the company announced that its wholly-owned subsidiary Sterlite Global Venture would acquire 12.8 per cent stake in ASOCS, a vRAN technology company based out of Israel.
Tata Steel India Q3 production volume marginally up to 4.46 MT in FY20, Tata Steel on Friday said that its production volume in India registered a marginal 1.8 per cent increase to 4.46 million tonnes (provisional) in the third quarter of the ongoing financial year. Its production volume was at 4.38 MT (actual) in the year-ago period, the steel major said in a filing to BSE.
Shriram Transport Finance Company on Friday said it has raised $500 million (approximately Rs 3,556 crore) through bond issue.The proceeds from the bond would be used to generate employment, the company said in a regulatory filing.
Emami Paper Mills shares were locked in 10 percent upper circuit on January 10 on the back of robust numbers for the quarter ended December 2019.The companys Q3 net profit rose by 224 percent at Rs 18.5 crore against Rs 5.7 crore in the same quarter last fiscal.Revenue was up 7.4 percent at Rs 400.1 crore versus Rs 372.6 crore.
Aarti Industries share price slipped more than 4 percent intraday on January 10 after the income tax department carried out searches at the companys premises. The investigation wing of the income tax department was conducting searches at the offices and manufacturing plants of Aarti Industries,
Shares of IT company Infosys rose 2 percent on January 10 amid optimism ahead of October-December quarter earnings scheduled to be announced on January 10, The stock gained on top of more than a percent gains in previous session. It was quoting at Rs 741.80, up Rs 14.25, or 1.96 percent on the BSE at 1243 hours IST.
Share price of Sun TV Network spiked over 6 percent intraday on January 10 as Nomura maintained buy rating on the stock with target at Rs 689 per share. However, the firm is of the view that advertisement industry is likely to see sharp slowdown in the third quarter adding that subscription growth remains healthy but risks due to TRAI order.
NIFTY TOP GAINERS/LOOSERS
Recommendation: - NIFTY IS AT ALL TIME HIGH TECHNICAL CHART SHOW HANGING MAN PATTERN BREAKOUT AND MOVING AVERAGE CHANNEL INDICATORE SHOW ABOVE SIGNAL SO TRADER CAN BUY ABOVE 12265 TGT -12310 TG-12360 TG -12410 SL-12100
Recommendation: - BANK NIFTY IS AT ALL TIME HIGH TECHNICAL CHART SHOW DARK CLOUD COVER PATTERN WITH UP-TREN LINE BREAKOUT AND MOVING AVERAGE CHANNEL INDICATORE SHOW BUY SIGNAL SO TRADER CAN BUY ABOVE 32135 TGT -32235 TG-32335 TG -32435 SL-32000
CALL OF THE WEEK:-
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT BREAKOUT UP-TREND LINE AND UP-TRENDLINE WITH MOVING AVERAGE SHOW BUY SIGNAL SO TRADER CAN BUY ABOVE 488 TGT 496 TGT 514 TG 523 SL 480
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT MFSL MAKING ROUNDING BOTTOM PATTERN WITH DOWN-TREND LINE BREAKOUT SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY ABOVE 247 TGT 251 TG-255 TG- 259 SL 240
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