WEEKLY EQUITY NEWSLETTER
13th Dec 2019 to 20TH Dec 2019
YES Bank is likely to skip issuing shares to family offices in favour of institutional investors in the current round of its preferential issue, where the bank plans to raise $1.75 billion, its managing director and chief executive office, This means Erwin Singh Braich, GMR Group, and Aditya Birla Family Office, which had all put in bids, may not get a piece in the banks stake sale. Denying reports of a forced merger being thrust upon the bank, he said he was confident of raising the target funds soon.
Shapoorji Pallonji Group has sold more shares of Tata-owned information technology firm Tata Consultancy Services (TCS) on Thursday, as part of its asset monetisation plan.Though the bulk deal data of exchanges did not reveal any specific sell-out by Shapoorji, it has sold 1.95 million shares in TCS for Rs 397 crore. This is 0.05 % of its shareholding. The company still holds 0.09 % of shares in TCS.TCS witnessed trading of 7.3 million shares worth Rs 1,495.3 crore on Thursday, which is almost the double its monthly average.
Shares of Housing Development Finance Corporation (HDFC) hit an all-time high of Rs 2,363, up 2 % on the BSE on Friday after the company completed the acquisition of HDFC Credila Financial Services. The stock surpassed has its previous high of Rs 2,357 hit on July 18, 2019.“The Corporation has completed acquisition of 11.47 million equity shares, representing 9.12 % of total Equity of HDFC Credila for a total consideration of Rs 395 crore, from its promoter Ajay Bohora and Anil Bohora,” HDFC said in a regulatory filing.
Shares of Dr Reddys Laboratories slipped 5 % to Rs 2,773 on the National Stock Exchange (NSE) on Friday after rival firm Amneal Pharma received Abbreviated New Drug Application (ANDA) approval for generic birth-control product NuvaRing from the US Food and Drug Administration (US FDA). The stock was the biggest loser among the Nifty 50 pack in an otherwise strong market.
Shares of India Tourism Development Corporation (ITDC) rallied 9 percent intraday on December 13 after the company board approved the merger of Kumarakruppa Frontier Hotels with itself. The stock rallied 52 % in the last three months. It was quoting at Rs 340.10, up Rs 21.95, or 6.90 %, on the BSE at 1510 hours IST.
A day after declining almost 3 %, Infosys share price rose over a on BSE on December 13 after the IT major said it was not aware of any new complaints other than the ones filed in October. "The company is aware of several media stories referencing an additional securities class-action lawsuit against Infosys. The company is not aware of any additional complaints, other than the initial complaint, which was disclosed on October 24, 2019,"
BoB shares climb over 3% after share purchase agreement with Ansa Merchant Bank, Shares of Bank of Baroda on Friday climbed over 3 % after the company signed a share purchase agreement with Ansa Merchant Bank to sell the business of Bank of Baroda Trinidad & Tobago. The scrip jumped 3.42 % to Rs 101.25 on the BSE. On the NSE, it gained 3.47 % to Rs 101.30.
NIFTY TOP GAINERS/LOSERS
Recommendation: - NIFTY IS UP TECHNICAL CHART SHOWS DOWN TREND LINE BREAKOUT AND MAKING 52 WEEKS HIGH WITH BULLISH TREND SHOW BUY SIGNAL SO, TRADER CAN BUY ABOVE 12180 TGT -12230 TG-12280 TG 12330-SL-12110
Recommendation: - NIFTY BANK IS UP TECHNICAL CHARTS SHOWS DOWN TRENDLINE BREAKOUT WITH MAKING THREE WHITE SHOULDE CANDLE PATTERN SHOW BUY SINGLE. SO, TRADER CAN MAKE THEIR POSITION BUY ABOVE 32150 TGT-32250 TG-32350 TG-32450 SL-32100
CALL OF THE WEEK:-
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT RECOVERY FROM TRENDLINE WITH BULLISH ENGULFING CANDLE PATTERN BREAKOUT SHOW BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY ABOVE 197.5 TGT 201 TGT 204 TG 207 SL 192
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT MAKING CUP-HANDLE PATTERN WITH ROUNDING TOP PATTERN SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY ABOVE 315 TGT- 325 TG-335 TG- 345 SL 310
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