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Fundamental Share Market News

image3 05 june

Market Wrap-up:

MARKET UPDATES.

The deep pocket investors seem to be already on a holiday as stocks ended marginally weaker on the back of low volume trade, dragged down by Financials on the report from the RBI (central bank) raised concerns over weak corporate balance sheets and bad loans among banks.

HEADLINES:

  • Jet Airways cut bases fares for international travel by 10 percent.
  • Reliance gains as signs pact with Russian arms firm.
  • State Bank of India raises Rs 40 billion on private placement basis.
  • Coal India ends on a flat note after signs MoU with Indian Railways.
  • Glenmark plans to raise up to 500 million dollars.
  • ONGC shares Tanks Company plans to invest in CBM blocks.

STOCKS IN NEWS:

  • Thomas Cook shares moved higher after the company announces changes to its Board of Directors.
  • Biocon surged and hits 52-weeks high on the National stock exchange after launches Hepatitis C drug in India.
  • Defense stocks were in demand on Friday trading session; Pipavav Defense locked with upper circuit.
  • Aurobindo Pharma gains after the company announced that they got nod from USFDA for Famotidine tablets.
  • Chennai Petroleum stock tanks despite of news flow that company resumes operations in Crude Distillation.
  • Greenply Industries gains on the back of positive reports; fixed 7 January 2016 as record date for Stock Split.
  • IOC shares end on a green note on the reports that the company retains top rank in the Fortune 500 Indian companies list.

STOCK RECOMMENDATION:

  1. 1.   ESCORTS EQ.

Escorts EQ is moving in an ascending channel pattern as well as stock has given breakout of trend which confirms more buying from current levels. Buy above 170.85 targets 172.55/174.30/176 SL 169.

  1. 2.   TAKE EQ.

TAKE EQ is heading towards its immediate resistance, soon positive breakouts of trend line may seen. Buy above 175.50 targets 177.30/179/180.80 SL 173.50.

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