Flat to negative opening expected as SGX Nifty is trading negative with 16 points.
Nifty continued the formation of lower highs - lower lows for 5th session. Needs to negate the same to get a short term reversal.
Nifty has a good support at 10230 and yesterday it has given close just below the level. Sustainability below 10230 will open more downside towards 10120, 9990 & 9840. Similarly, 10330-10350 will be the immediate hurdles for upside journey.
🎯 Major Results Today :
Sunpharma, Bank of Baroda, Eicher Motors, GAIL, Grasim, Cadila Healthcare, Bata India, Indiabulls Real Estate
🎯 News & Impact 🎯
Results Updates :
🎯 NMDC :
Net Profit (GU)9.6% At Rs.844.4 Cr Vs Rs. 770.7 Cr (YoY).
Revenue (GU)39.2% At Rs.2,421 Cr Vs Rs. 1,739.2 Cr (YoY).
🎯 Adani Enterprises :
Loss At Rs.15.1 Cr Vs Profit Rs.36.7 Cr (YoY).
Revenue (GU)19.6% At `9,083 Cr Vs `7,594 Cr (YoY).
🎯 Sun Pharma :
Sunpharma subsidiary Taro gets USFDA nod for Fexofenadine Hydrochloride oral suspension.
Positive for the stock.
🎯 Havells India :
Company signs a pact with South Korea’s Hyundai Electric for supply of low and medium voltage protection, and switching devices.
🎯 IOL :
IOL Chemicals and Pharma to invest Rs. 200 crore for expanding manufacturing capacity.
🎯 Bharti Airtel :
Company plans to raise $400mn by selling 3.5% in tower arm.
🎯 Simplex Infra :
Company bags Rs. 1,080 crore Mumbai metro job.
🎯 Lupin :
Lupin expects the US drug regulator’s action against the company to leave only an “immaterial dent” on its revenue, even though it would affect its plans to launch new drugs.
🎯 Jet Airways :
Jet Airways is in "serious discussions" about ordering a further 75 Boeing 737 Max aircraft.
Edited by Sharp.
© Sharp Investment & Financial Advisers
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