20 Nov 2017 | 2:23 PM
Research Report
Daily

Equity Research Report: Religare Morning Digest

Market Outlook for the day – Going forward, we expect positive bias to prevail and 6150 is the probable target in near future.
15 Jul 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - Going forward, we expect positive bias to prevail and 6150 is the probable target in near future.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20230 20080 19958.47 19780 19690
NIFTY 6100 6050 6009.00 5950 5920
BANK NIFTY 11980 11860 11722.80 11590 11500
CNXIT 7360 7280 7249.40 7150 7000
 
Corporate News

Infosys net profit grew 3.7% to Rs 2,374 crore compared with Rs 2,289 crore in the same period last year, while revenues grew 17.2% to Rs 11,267 crore. On a sequential basis, however, the net profit was down 0.8 per cent while revenues grew 7.8%.

Sun Pharmaceutical Industries has received final approval from the US health regulator for its generic Repaglinide tablets used for the treatment of diabetes. The company is eligible for a 180-day marketing exclusivity in the US as its subsidiary is the first-to-file an abbreviated new drug application (ANDA) for the product with a para IV certification.

Dr Reddy’s Laboratories has launched Decitabine for Injection (50mg), a therapeutic equivalent generic version of Dacogen (Decitabine for Injection) in the US market.

Sintex Industries consolidated net profit fell 0.36% to Rs 46.62 crore on 4.40% increase in total income from operations to Rs 1128.11 crore in Q1 June 2013 over Q1 June 2012.

Elder Pharmaceuticals board has approved the proposal for carrying out restructuring of company's business to reduce the debt.

IVRCL has secured new orders aggregating Rs 1097.57 crore across its various business segments.

Economy News

India’s industrial output growth rate contracted by 1.6 percent in May after showing 2.3 percent growth in the previous month.
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
DABUR BUY 158.55 156-157 154 165 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
INDUSINDBANK SELL JULY FUT 505 509-511 519 493 3-5 DAYS
 
Fundamental Picks for delivery (1 - 2 Years)
Large Caps ACC, Bajaj-Auto, HCL Tech, HUL, M&M, NTPC, Sun Pharma, Lupin, ITC, L&T, TCS, Adani Ports&SEZ
Midcaps & Small Caps GCPL, Bata India, Shriram Transport Finance,
M&M Financial Services,  Havells India, Bajaj Corp Ltd, LIC housing, Yes Bank
Note – For our running recommendations and past performance, please click here
    Market Roundup
 
Key benchmark indices surged after IT major Infosys kicked off the Q1 earnings season by reiterating its revenue guidance for the current year. Gains in European stocks also aided gains on the domestic bourses the barometer index, the S&P BSE Sensex, hit 6-week high. On macro front, India's merchandise exports declined 4.56% to $23.785 billion in June 2013 over June 2012. Imports rose 0.37% to $36.034 billion. Oil imports jumped 13.74% to $12.767 billion. Non-oil imports declined 6.71% to $23.267 billion.