CAPITALSTARS PRESENTS EQUITY MARKET UPDATE : 23 JAN 2020

INDIAN FACE  

                      

INDIAN EQUITY BENCHMARK

The Sensex ended 271.02 points higher at 41,386.40, while Nifty added 73 points to close at 12,180.40. Bulls attempt a comeback and broadly defend our mentioned support zone of 12,100. Market breadth was comfortably positive and individual stocks did well. Till the mentioned support zone is defended by the bulls, index has a good chance to recover lost ground however, a decisive breach below 12,100 zone will be negative and index can slip further towards 11,800 zone. Currently, markets are in a consolidation phase.

GLOBAL FACE

Asian Market- Chinese stocks just had their worst day in more than eight months as the coronavirus spreads. China's Shanghai Composite (SHCOMP) closed down 2.75% Thursday afternoon. It's the index's worst singleday percentage drop since last May, when President Donald Trump threatened new tariffs on China. Hong Kong's Hang Seng Index (HSI) closed down 1.5%. The benchmark has lost about 4% so far this week. Japan’s Nikkei 225 (N225) slumped 1%, while South Korea's Kospi (KOSPI) decreased 0.9%.

U.S. Market – Stocks close steady but off highs with China taking steps to contain possible pandemic. The Dow Jones Industrial Average DJIA, -0.03% slipped 9.77 points, or 0.03%, to 29,186.27 while the S&P 500 index SPX, +0.03% closed up 0.96 points or 0.03% at 3,321.75. The Nasdaq Composite Index COMP, +0.14% was up 12.96 points or 0.14% at 9,383.77.

European markets- European stocks retreat on coronavirus fears and Trump’s trade threat.

NIFTY SPOT

MARKET TALKS

PVR registers higher margins at 33.6% in Q3
For Q3FY20, PVR's revenue came in at Rs915cr. The company's EBITDA stood at Rs307.3cr and margins came in at 33.6% for Q3FY20. The company's PAT for the quarter under review stood at Rs36.3cr. 

Indoco Remedies posts 75% yoy rise in net profit for Q3
Indoco Remedies posted revenues of Rs283.4cr during the third quarter of FY20 vs. Rs248.0cr for the same quarter last year, rising 14.3% yoy. For the quarter, the company posted a profit of ~Rs9.3cr vs. Rs5.3cr same quarter last year, up 75% yoy. Commenting on the third quarter results, Aditi Panandikar, Managing Director, Indoeo Remedies Ltd., said, "Durint; the third quarter, India Business continued the growth momentum by clocking a growth of 17%. International business registered a growth of 21% in the third quarter. Considering the planned product launches in US, we expect the growth momentum in International business to continue."

Alembic Pharma gets USFDA approval for Fenofibrate tablets
Alembic Pharmaceuticals Limited (Alembic), a vertically integrated research and development pharmaceutical company, today announced that it has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Bimatoprost Ophthalmic Solution, 0.03%. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Latisse Ophthalmic Solution, 0.03%, of Allergan, Inc. (Allergan). Bimatoprost Ophthalmic Solution, 0.03% is indicated to treat hypotrichosis of the eyelashes by increasing their growth including length, thickness and darkness.

Ujjivan Small Bank reports 2x yoy growth in Q3 PAT
Ujjivan Small Finance Bank surged over 4% after the bank reported its Q3FY20 earnings late on Wednesday. The bank's Gross Advances stood at Rs13,617cr, a growth of 46% over Q3FY19. Non-MicroBanking portfolio now contributes 22% to the portfolio against 14% Q3FY19.GNPA stood at 0.9% and NNPA at 0.4% in Q3FY20 against 1.4% and 0.3%, respectively, in Q3FY19; write-off of Rs12cr in Q3FY20. 


NAME OF THE STOCK : PEL

DATE : 23/1/2020

SEGMENT : CASH 

CHART TYPE : Candlestick

EXCHANGE : NSE 

TECHNICAL INDICATORS USED : VOLUME.MACD, RSI.

INVESTMENT ADVICE: CS CALL - - BUY PEL IN CASH NR CMP 1685-1690 TGT 1740 SL 1645

RATIONALE FOR ARRIVING INVESTMENT ADVICE : We Provide Trading calls on the basis of following key points: 

1. Technical Analysis (Use of Candlestick Charts, Technical Indicators like: RSI, MACD, Stochastic, ADX etc,) 

2. Fundamentals of the Company 

3. Live Market News & Updates (Company related, Sector related, Economy related, political, Global news etc.) 

4. Tracking of Market Data’s (GDP, IIP, CPI, WPI, TRADE BALANCE etc.) 

5. Tracking of Market Events like (RBI POLICY, FED POLICY, ECB MEETING, and OPEC MEETING etc.) 

6. Tracking of Market Trends like Bullish Trend, Bearish Trend, and Consolidation etc.

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