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Equity Research Report: Religare Morning Digest

Market Outlook for the day - For Thursday, 6160 is an important support. If the same is breached on the down side, there are higher chances that 6100 will be tested on an intraday basis.
24 Oct 2013 | 07:00 AM

    Highlights for Today
Market Outlook for the day - For Thursday, 6160 is an important support. If the same is breached on the down side, there are higher chances that 6100 will be tested on an intraday basis.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 20950 20830 20767.88 20650 20530
NIFTY 6240 6200 6178.35 6140 6100
BANK NIFTY 11050 10950 10880.65 10730 10600
CNXIT 8950 8880 8829.55 8740 8650
 
Corporate News

ACC consolidated net profit declined 50.86% to Rs 118.90 crore on 1.33% decline in sales turnover to Rs 2508.65 crore in Q3 September 2013 over Q3 September 2012.

Exide Industries net profit fell 1.31% to Rs 118.63 crore on 6.96% decline in total income to Rs 1435.74 crore in Q2 September 2013 over Q2 September 2012.

Eros International Media consolidated net profit rose 41.76% to Rs 36.97 crore on 12.80% decline in total income to Rs 201.47 crore in Q2 September 2013 over Q2 September 2012.

V-Guard Industries net profit declined 19.4% to Rs 14.48 crore on 6.2% growth in net sales to Rs 331.17 crore in Q2 September 2013 over Q2 September 2012.

Gujarat Pipavav Port net profit surged 439% to Rs 44.10 crore on 36% jump in income from operations to Rs 118 crore in Q3 September 2013 over Q3 September 2012.

Strides Arcolab rose 1.35% on BSE after the company said its biotech subsidiary – Stelis Biopharma has entered into research collaboration agreement with Bio-Scaffold International Pte, a Singapore based start-up company.

Results on October 24, 2013:
NMDC, IPCA labs, PTC India, Tata Sponge, Biocon, Idea Cellular, Kotak Mahindra Bank, United Phos., Fresenius Kabi
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
AXISBANK BUY 1210.10 1195-1205 1170 1280 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
SBIN BUY OCT FUT 1723 1710-1715 1678 1775 3-5 DAYS
 
Fundamental Picks for delivery (1 - 2 Years)
Large Caps Bajaj-Auto, HCL Tech, HUL, M&M, NTPC, Sun Pharma, Lupin, ITC, L&T, TCS, Adani Ports&SEZ
Midcaps & Small Caps Amara raja batteries, 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 closed negative in a volatile and weak trading session. Weakness continued throughout the day and key indices hit intraday low in the noon trade. Realty and Power stocks were beaten more and its BSE indices closed more than 1% down. Profit booking also witnessed in IT stocks. The market breadth, indicating the overall health of the market, was negative.
 
Regenerate OTP
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