Markets snaps four days winning streak; Metals and PSU Bank gains:
Benchmark share indices snapping four consecutive sessions of gains today on profit booking post RBI announced its third bio monthly policy review. Overall, its was a volatile session for the market as the Sensex falls 115 points, but somehow managed to close above 28000 levels at 28071 on the Other hand Nifty tanks 26 points at finally ends at 8516.
ABOUT RBI POLICY:
- RBI (Reserve Bank of India) today kept its policy rate unchanged at 7.25 percent as well as the cash reserve ratio (CRR) as 4 percent as widely expected, while leaving the door open to ease further depending on the inflation outlook and how swiftly banks lower their lending rates.
- RBI trimmed consumer inflation forecast for January-March 2016 by 0.25 and said that growth was beginning to look up gradually.
HEADLINES FOR THE DAY:
- Wockhardt Pharma tanks on drug recall from the US market.
- Ajanta Pharma shares soar as getting nod for three ANDs from USFDA.
- Alstom T&D shares gain as wins new orders from power grid worth Rs 2.31 bn.
- Hero MotoCorp gains on the back of good Q1 numbers.
- VEDL, NMDC hits fresh low on NSE.
- MRF, Emami LTD, Coal India., Essaroil, Bomdyeing, Bajaj Finance, Amara Raja Batteries, Bharat Elec, Mothersumi and so are on the fresh high in today's trading session on NSE (National Stock Exchange).
- Tyre stocks like Ceat Ltd, Jk Tyre, Apollo tyre rallied on NSE after rubber Prices dips.
- Shares of Berger Paints gains after the company said that it is planning to open 2 new factories in Assam.
- M&M sales down, stood at Rs 34652 units against 35567 units slightly lower from the same month last year; Stock gains
- BGR Energy gains on the back of good Q1 numbers. Stock gains more than 11 percent on NSE (National stock Exchange) today, opened at 130.20 and made a high of 143.80.
- Tata Motors owned JLR (Jaguar Land Rover) set up its first learning academy to train and up-skill its employees in the UK.
- TVS Motors gains up 2 percent, in the July month company sold 218321 against 214324 units same month last year.
RESULTS BLOG:
- Britannia today reported a 67 percent jump in Q1 net profit, which stood at Rs 190 crore against 114 crore same quarter last year.
- Godrej Properties net profit soars 20.6 percent in the April-June quarter stood at Rs 55 crore from Rs 45.6 crore on the back of strong operational performance at lower cost of sales. The revenue of the company tanks 28.4% at Rs 237.6 crore against Rs 331.8 crore.
- JK Paper gains after reported 16.78 up in net profit from the very first quarter at Rs 16.78 crore led by increased productivity and effective utilization of raw materials.
- TNPL hits fresh, high in a negative market after reports reported robust quarter one earning reports profit nearly doubles which stood at Rs 52 crore.
- Indiabulls Real Estate reported two fold jump in net profit, which stood at Rs 38.85 crore on improving realization; stock gains.
- JK Paper gains and hits fresh high on NSE after reported good April-June Q1 number, profit for the April - June stood at Rs 16.78 crore against net loss of Rs 22.53 crore.
- Nilkamal share gains on the back of strong Q1 net profit as well as huge volumes seen in stock.
- Sangam India moved higher in an early trade and hits fresh Hugh after reported strong Q1 numbers.
CALLS FOR NEXT TRADING SESSION:
- FRL gains and consolidates near its resistance, more buying opportunity seen in this stock, Buy above 131.40 targets 132.70/134/135.40 SL 130.
- Reversal Pattern could be seen Fedderloyd Eq as the stock has made a Doji pattern today, can be seen in daily charts, short term selling could be expected from here. Sell below 108 (its next support could be seen around 105.10) targets 107/105.85/104.80 sl 109.
NEWS TO WATCH OUT:
- Watch out for the Quarterly numbers Bata India, Canara Bank, Emami Ltd, IGL, JBCHEM, Prism Cement, Siemens, snowman, Sonata, Tata Chem etc on Wednesday i.e. on 05th Aug 15.
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