Skip to main content

Market Update: CNX Pharma outshines, jumps over 2% led by Sun Pharma; BoB up 2%, Jubilant Life falls 7%

The market breadth was in favour of the advances with 1246 stocks advancing while 358 decllined and 402 remained unchanged. On the other hand, in the BSE, 1527 stocks advanced and 546 declined and 87 remained unchanged.

The Indian benchmark indices were trading on a positive note on Friday morning with the Nifty gaining 47 points at 10,429 while the Sensex gained 144 points or 0.43 percent.

Nifty pharma was the outperforming sector with the Index jumping 2.6 percent led by stocks including Sun Pharma zooming close to 5 percent followed by Aurobindo Pharma, Cipla and Divis Labs. Dr Reddy's Labs, Glenmark Pharma and Lupin were the other top gainers.

The PSU banking index was also up 1 percent as stocks like Bank of Baroda gained 2 percent while IDBI bank, PNB, SBI and Syndicate Bank were the other top gainers.

The top Nifty gainers included Sun Pharma which jumped over 4 percent followed by Tata Steel and Aurobindo Pharma which added 3 percent each while Cipla and Bharti Airtel were the other performing stocks.

The most active stock was Jubilant Life Sciences which plunged close to 8 percent, followed by Sun Pharma, Tata Steel, Biocon and Fortis Healthcare.

The top Nifty losers included GAIL India, Eicher Motors, M&M, TCS and Asian Paints.

Avenue Supermarts, Firstsource Solutions and Ipca Labs were some of the few stocks that hit new 52-week high on NSE while Gitanjali Gems Limited, Max India Limited and United Bank of India were the stocks that hit fresh 52-week low.

The top Sensex gainers were Federal bank which was up 4 percent followed by Sun Pharma, Info Edge, Sun Pharma Advanced and Sundaram Fasteners. The top losers were Jubilant Life, Vakrangee, Siemens, Religare and Videocon.

The market breadth was in favour of the advances with 1246 stocks advancing while 358 decllined and 402 remained unchanged. On the other hand, in the BSE, 1527 stocks advanced and 546 declined and 87 remained unchanged.

Goldman Sachs has maintained a buy on Avenue Supermarts and has raised target to Rs 1,672 from Rs 1,611. It expects the company to open 24/28/30 stores in FY19/20/21 as against 18 earlier which will lead to some cannibalization.

Jefferies has retained a buy on Federal Bank with target of Rs 145 per share and feels that picking stake in Equirus Capital is a positive on the strategy. It is of the view that corporate and SME clients could mean additional fee income while better efficiency should result in gradual increase in overall profitability.
www.shristocktips.com

Comments

Popular posts from this blog

Nifty could slip towards 9,900; 3 stocks which could give up to 11% return

A close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

The Nifty index Futures continued to slide lower for the second month in a row making it 10 percent decline from the record highs. Further, it has broken down from a broadening wedge pattern along with a close below the 200-DMA, affirming weakness dominant in the markets at the moment.

A sustained trade below 10,050 can accelerate the fall to levels of 9,930-9,700. However, a close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

Moreover, the relative strength index or the RSI has turned down from the neutral levels of 50 on two occasions in recent pullbacks suggesting further weakness in the coming trading sessions.

Here is the list of stocks which can give up to 11 percent return:

Arvind Ltd: SELL| Target Rs345| Stop Loss Rs410| Return 11%

On the weekly chart, Arv…

Market Update: PSU bank index outperforms as PNB, Syndicate Bank jump 2-5%; JP Associates zooms 11%

The market breadth was in favour of the advances with 957 stocks advancing while 668 declined and 383 remained unchanged. On the other hand, in the BSE, 1176 stocks advanced and 888 declined and 108 remained unchanged.

The Indian markets on Friday morning were trading flat with the Nifty shedding 51 points or 0.49 percent  while the Sensex was down 178 points.

The Nifty PSU banking index was up 0.6 percent led by stocks like Syndicate Bank which jumped 5 percent followed by Allahabad Bank which gained over 3 percent. IDBI Bank and OBC were the other gainers. PNB gained 2.38 percent.

The top Nifty gainers included Mahindra & Mahindra and Aurobindo Pharma which were up 1.7 percent each followed by UPL, Yes Bank and Zee Entertainment.

The top Nifty losers included IOC and BPCL which fell 2 percent each followed by HPCL, Tata Motors and NTPC.

The most active Nifty stocks included IDBI bank which jumped over 3 percent while JP Associates zoomed over 10 percent after Rakesh Jhunjhunwala…

HDFC Sec retains sell on Bharti Infratel, reduces target to Rs 310 despite 22% fall in last 2 months

The share price has declined from a peak of Rs 480 to Rs 373 (22 percent) in last two months.

Bharti Infratel shares declined 1.5 percent to close at Rs 368 on Tuesday after HDFC Securities has reiterated its Sell rating on the stock with revised target price at Rs 310 (from Rs 387 per share) despite sharp fall in last two months. INDIAN STOCK TIPS

The share price has declined from a peak of Rs 480 to Rs 373 (22 percent) in last two months.

"Target price is based on 20x Dec-19E EPS (Rs 356) for business as usual (versus 24x earlier) less impact of Rs 60 per share from Vodafone-Idea merger (versus Rs 39 per share earlier) and likely acquisition of Vodafone-Idea stake in Indus at enterprise value of Rs 50 lakh per tower (+Rs 15 per share)," the research house said.

It further said the key reason for the de-rating is instant loss of tenancies on merger of Vodafone-Idea and impact of Reliance Communications and Aircel businesses’ scaling down.

This would push back Bharti Infrat…