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Stock Recommendations for March 11th-March 15th, 2019

Stock Pick Observation Company Vardhman Textiles Limited The stock has given a sharp recovery from its multi-month support level of ~950 and is on a verge of giving a bullish double bottom breakout on daily chart. It is showing positive momentum on the daily MACD Histogram and is also showing strong strength on the ADX Indicator wherein the +DI line has crossed the 25 level and is trading above DI & -DI line. Recommendation Buy or Sell Buy (Cash) Range…

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Important results today: Tech Mahindra, PNB, HPCL, GAIL

Quarterly results that are expected today include Tech Mahindra, Punjab National Bank, Hindustan Petroleum Corporation, DLF, GAIL (India), ACC, BHEL, Marico, IDFC First Bank, Apollo Tyres. Here is the street expectation for the companies: Tech Mahindra Consensus expectations for Q3FY19E: Revenue – Rs 8,956cr, up by 3.8% qoq aided by a pick-up in telecom verticl on the back of recent deal wins. Enterprise vertical is expected to bounce back after HCI dragged down revenues in Q2. Enterprise growth is expected to be…

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Nifty trades below 10,850; Tata Motors, Ashok Leyland stocks gain

Equity benchmark indices opened flat in Thursday’s trade amid mixed global clues. The Sensex was down 52 points at 36,160, while the Nifty slipped over 21 points at 10,833. The market breadth was positive with 845 shares advancing, 640 shares declining, and 558 remaining unchanged. Shares of Ashok Leyland advanced 1% as the company bagged an order to provide buses to state transport corporations. Shares of Vakrangee were trading 5% up on Thursday after the company provided updates on the Preliminary Findings of Ministry of Corporate Affairs, which…

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Asian stock market mixed in morning trade

Asian stock market was trading mixed on Tuesday on hopes that US-Chinese talks in Beijing would bring a halt to trade disputes between the world’s biggest economies, while OPEC-led supply cuts tightened markets. As per media report, China said on Monday that it is willing to resolve its trade disputes with the US on an equal footing, according to Chinese foreign ministry. Japan’s Nikkei 225 rose 0.80, Kospi was 0.12% lower, while Shanghai composite declined by 0.37%. Shares of Samsung…

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US payrolls rise 312,000 as wage gains exceed forecasts

US employers added the most workers in 10 months as wage gains accelerated and labor-force participation jumped, reflecting a robust job market that nevertheless faces mounting risks in 2019. Non-farm payrolls increased by 312,000 in December, easily topping all forecasts, after an upwardly revised 176,000 gain the prior month, a Labor Department report showed on Friday. Average hourly earnings rose 3.2% from a year earlier, more than projected and matching the fastest pace since 2009. Meanwhile, the jobless rate rose…

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Nifty ends lacklustre session 52 points lower

Markets witnessed a sideways consolidation after the sharp rally witnessed in yesterday’s trading session. Nifty ended the day 52 points lower at 10,198 witnessing a slight dip in the final hour of trade led by a correction in energy and metal stocks. The real outperformance, however, was seen in midcap and smallcap stocks with Nifty Smallcap index managing to close 3.27% higher. Tracking the derivative data points, Nifty futures witnessed a surge in open interest, while Bank Nifty witnessed a…

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USFDA issues form 483 for Alembic Pharma’s Panelav facility

The United States Food and Drug Administration (USFDA) has issued a Form 483 with four procedural observations for Alembic Pharmaceuticals’ general oral solid formulation facility at Panelav, Gujarat. USFDA had carried a scheduled pre-approval inspection of the company’s facility from October 22  to October 25.  “At the end of the inspection the USFDA issued a Form 483 with four procedural observations,” the company said in a press note on Friday. “The Company will provide comprehensive corrective action report to address each…

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UPL Q2FY19E result expectation

Estimates for Q2FY19E • Revenue – Rs4,075cr, up by 8%, on higher volumes in India coupled with rupee depreciation vs. USD and EUR. • EBITDA – Rs819cr, up by 25%, on account of higher volumes offsetting the pricing pressure of the products across locations and forex gain on rupee depreciation on exports and foreign subsidiaries in North America and Europe. • Net profit after tax – Rs390cr, up by 42%, led by rise in EBITDA, stable other income and effective tax rate. However, it may witness…

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KIOCL falls 17% after Co approves buyback of shares up to Rs214cr

STOCK MARKET TIPS TODAY KIOCL’s plummetted ~18% after the company’s board approved a proposal to buyback (not exceeding) 1.26cr equity shares (representing 1.98% of the total number of equity shares in the paid-up share capital of the company). The buyback has been set at a price of Rs170 per equity share of face value Rs10 each, payable in cash for an aggregate consideration not exceeding Rs214cr. KIOCL share price is currently at Rs188.90, down Rs40.5, or 17.65%, from its previous…

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Sensex, Nifty trade lower ahead of August F&O expiry

Equity benchmark indices opened on a flat note, ahead of the expiry of August F&O contracts. The Indian rupee fell to a record low of 70.8125 against the dollar, after opening lower at 70.63. Selling pressure was witnessed in Nifty PSU Bank, which declined 0.56%, followed by auto and financial services. Sensex was trading down 39 points at 38,684 levels, while Nifty 50 was trading below 11,700 mark, down 18 points. Shares of oil marketing companies were under pressure as…

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