WEEKLY EQUITY NEWSLETTER
24th Jan 2020 to 31TH Jan 2020
PNB Housing Finance reported a 32 percent decline in its profit before tax (PBT) at Rs 298.2 crore for the quarter ended December 2019 (Q3FY20), as its non-performing assets shot up and disbursements fell sharply.
PNB Housing Finance reports a 32% decline in PBT at Rs 298.2 crore
PNB Housing Finance reported a 32 percent decline in its profit before tax (PBT) at Rs 298.2 crore for the quarter ended December 2019 (Q3FY20), as its non-performing assets shot up and disbursements fell sharply. Its PBT was Rs 441.6 crore in the same period last fiscal (Q3FY19). The shares of the housing finance company closed 5.01 percent lower at Rs 542.30 per share on the BSE. Its net profit declined 22 percent at Rs 237 crore in Q3FY20, from Rs 303 crore in Q3FY19.
Century Textiles hits fresh 52-week high on fundraising plan via NCDs
Century Textiles & Industries shares hit a fresh 52-week high of Rs 610, up 4 percent on the BSE on Friday after the company announced a fundraising plan of up to Rs 400 crore through non-convertible debentures (NCDs). The BK Birla Group companys stock was trading higher for the sixth straight day. In the past week, it has rallied 15 per cent, as compared to 1 per cent decline in the S&P BSE Sensex. In an exchange filing on Thursday, Century Textiles said its board will meet on Tuesday, January 28, 2020 to consider and approve issue of non-convertible debentures on private placement basis for an amount up to Rs 400 crore.
YES Bank records sharpest intraday gain in six weeks, up 17% in two days
Shares of YES Bank climbed 10 per cent to Rs 45 on the BSE on Friday, recording its sharpest intra-day gain in the past one month. The stock of the private sector lender was trading higher for the second straight day. Earlier, on December 12, 2019, YES Bank had surged 12.5 per cent in the intra-day trade on the BSE. The stock has rallied 17 per cent in the past two days, after the country’s largest public sector bank’s State Bank of India (SBI) Chairman Rajneesh Kumar said he’s certain “some solutions will emerge” to steady YES Bank, which has been on a prolonged quest to raise new capital.
KEI Industries shares climb 5% post launch of QIP issue
Shares of KEI Industries jumped 5 per cent to Rs 547 on the BSE on Friday, after the cable maker undertook the issue of equity shares on a qualified institutions placement (QIP) basis. The company said it launched a qualified placement of shares on Thursday and fixed the floor price of Rs 518.14 per share. It plans to raise up to Rs 500 crore from the issue. The amount raised will be used for the pre-payment and / or repayment of outstanding indebtedness,funding the long term growth of existing businesses and capital expenditure of the company, financing other long term capital, and working capital.
Adani Gas crashes 14% on report of gas regulators notice on non-disclosure
Shares of Adani Gas slipped 14 per cent to Rs 148 on the BSE in Fridays session on reports that Petroleum and Natural Gas Regulatory Board of India (PNGRB) has sent a notice to the company for failing to disclose crucial information regarding a scheme of arrangement with Adani Enterprises., Adani Gas has bid for gas projects using net worth calculations of Adani Enterprises and that the company’s shareholding changes and restructuring violated city gas distribution regulations,
NIFTY TOP GAINERS/LOOSERS
Recommendation: - NIFTY IS IN BULLISH CHANNEL TECHNICAL CHART SHOW NIFTY TAKING RECOVERY FROM THE UPTREND LIN AND SUPPORT LEVEL AND MOVING AVERAGE CHANNEL INDICATORE SHOW BUY SIGNAL SO TRADER CAN BUY ABOVE 12300 TGT -12350 TG-12400 TG -12450 SL-12225
Recommendation: - BANK NIFTY IN BEARISH CHANNEL TECHNICAL CHART SHOW NIFTY TAKING RECOVERY FROM THE U-TREND LINE AND SUPPORT LEVEL PATTERN AS TECHNICAL CHART SHOW WITH MOVING AVERAGE CHANNEL INDICATORE SHOW BUY SIGNAL SO TRADER CAN BUY ABOVE 31440 TG-31540 TG -31640 TGT- 31740 SL-31300
CALL OF THE WEEK:-
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT CENTURYTEX TAKING RECOVERY FROM LOW LEVEL AND FILLING ITS CANDLE GAP WITH BULLISH MARUBUZO CANDLE PATTERN SHOW BUY SIGNAL SO TRADER CAN BUY BELOW 635 TGT 650 TGT 665 TG 680 SL 610
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT KEI TAKING RECOVERY FROM UP-TREND LINE AND BULLISH MARUBUZO CANDLE PATTERN SHOW BUY SIGNAL SO TRADER CAN BUY BELOW 553 TGT 563 TGT 573 TG 583 SL 545
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