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CAPITALSTARS PRESENTS EQUITY MARKET UPDATE : 12 FEB 2020

INDIAN FACE  
                      
INDIAN EQUITY BENCHMARK
Buying in FMCG, metals, financials and auto counters along with positive global cues helped equity market settle in the green for the second day in a row on Wednesday. The S&P BSE Sensex rallied 350 points or 0.85 percent to end at 41,566 while NSE's Nifty50 settle at 12,201, up 93 points or 0.77 percent.
FMCG giant Hindustan Unilever (HUL) zoomed over 5 percent to end at Rs 2,262 apiece on the BSE. It was the top gainer on the Sensex. The stock hit a fresh 52-week high of Rs 2,271 during the day. HUL’s m-cap stood at Rs 4, 89,464 crore (Rs 4.89 trillion).

GLOBAL FACE

Asian Market- Asian markets rise despite coronavirus concerns.

U.S. Market- US futures point to further gains after stocks hit new highs. U.S. stock index futures rose on Wednesday morning after the S&P 500 and Nasdaq eked out fresh record closing highs on Tuesday.  Dow futures indicated an implied positive open of more than 120 points, while futures on the S&P and Nasdaq also climbed.

European markets- Japan’s Nikkei 225 NIK, +0.74% rose 0.5% in morning trading. Australia’s S&P/ASX 200 XJO, +0.47% gained 0.6% and South Korea’s Kospi 180721, +0.69% was about flat. Hong Kong’s Hang Seng HSI, +0.87% added 0.7%, while the Shanghai Composite SHCOMP, +0.87% inched up 0.1%.

NIFTY SPOT

MARKET TALKS

Hindalco's PAT declines 24% yoy in Q3
Hindalco Industries Ltd., a global leader in aluminium and copper, today announced consolidated results for the third quarter ended December 31, 2019. Profit After Tax (PAT) stood at Rs1,062cr in Q3FY20, down by 24% as compared to the third quarter of FY19.  In spite of subdued economic conditions, the company delivered steady quarterly results on the back of strong performance by Novelis, lower input costs and stable operations of the Indian businesses.

Wockhardt to sell Baddi manufacturing facility to Dr Reddy's for Rs1,850cr
Wockhardt's board of directors' has approved divestment of part of Domestic Branded Business to Dr. Reddy's Laboratories Limited comprising of 62 products and related business, assets and liabilities including manufacturing facility at Baddi, Himachal Pradesh, India for a consideration of Rs1,850cr (~USD 260mn).  The business being transferred reported revenue from operation ~Rs377cr which is ~15% of the consolidated revenue for 9 months ended December 31, 2019. The proposed divestment is ~3.8 times of annualized revenue of the business being transferred, the company said.

CEAT commences production at greenfield project at Chennai
CEAT informed the exchanges today that the company has commissioned the commercial production at its Greenfield manufacturing facility at Sriperumbudur Taluka near Chennai with effect from February 12, 2020, which is expected to be ramped up progressively in a phased manner.

USFDA completes inspection of Lupin's Pithampur (Unit-I) facility
Pharma major Lupin announced the completion of an inspection carried out by the United States Food and Drug Administration (USFDA) at its Pithampur (Unit-I) facility. The inspection was carried out between February 03, 2020, and February 11, 2020. The inspection for the Pithampur (Unit-I) facility closed with two 483 observations, the pharma company said.


NAME OF THE STOCK : TECHM

DATE :  10/1/2020

SEGMENT : CASH

CHART TYPE : Candlestick

EXCHANGE NSE

VOLUME.MACD, RSI. : TECHNICAL INDICATORS USED




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