WEEKLY EQUITY NEWSLETTER
20th Dec 2019 to 27TH Dec 2019
M&M announces board rejig, Anand Mahindra to be non-executive chairman, Mahindra & Mahindra (M&M) on Friday announced a rejig of its top management with Anand Mahindra, 64, transiting to the role of non-executive chairman from executive chairman, effective 1 April, 2020.In a statement, the firm said Pawan Kumar Goenka has been re-appointed the managing director with additional responsibilities of chief executive officer (CEO) for a year, effective 1 April, 2020.
Ratan Tatas legacy as brand custodian challenged as he fights Mistry, In a shock to former Tata Group chairman Ratan Tata, the National Company Law Appellate Tribunal (NCLAT) said he was determined to remove Cyrus Mistry prior to the board meeting and asked him to back down.“Ratan Tata and the nominee of Tata Trusts shall desist from taking any decision in advance which requires majority decision of the board of directors or in the annual general meeting,” said the NCLAT about one of Indias most high-profile corporate leaders.
SpiceJet trades lower for fifth straight day, hits eight-month low, Shares of SpiceJet were trading lower for the fifth straight session, down 2.5 per cent at Rs 96.85 on the BSE on Friday in an otherwise firm market. The stock of Indias second biggest airline in terms of market share was quoting at its lowest level since April 11, 2019.
Private sector lender IDBI Bank plans to raise up to Rs 2,000 crore in capital through tier-II bonds to enhance capital adequacy. In September, Life Insurance Corporation (LIC) of India and the Government of India (GoI) together infused Rs 9,300 crore as equity capital into the bank.
Fraud-hit CG Power and Industrial Solutions Ltd on Friday said it has appointed former Chief Justice of India T S Thakur as head of investigation to monitor the ongoing forensic investigation."The proposal of the Company to appoint Honble Justice T S Thakur (Retd) as Head of Investigation to monitor the ongoing forensic investigation commenced by the company was accepted by Justice Thakur (Retd)," the company said in a regulatory filing.Justice Thakur was the Chief Justice of India from December 3, 2015 to January 4, 2017.
JM Financial shares jumped as much as 5.54 per cent to Rs 97 apiece on the BSE on Friday after the company informed that the board has given approval to raise up to Rs 850 crore. The company also received approval to increase investments by the foreign portfolio investors (FPIs) from 24 per cent to 40 per cent.
Billionaire Sunil Bharti Mittal said a combination of rock-bottom tariffs and high consumption is killing the telecom industry and sector regulator Trai needs to urgently intervene to strike a balance between the needs for protecting investments and consumer interest. "My view is Rs 200 ARPU (average revenue per user) is eventually going to Rs 300 ARPU... At the lower end, Rs 100 for a customer over a month of consuming rich data, voice and other services and on the upper end Rs 450-500... therefore, blended eventual landing point of Rs 300 a month, which will still be $4 a month... by far, the lowest anywhere in the world and yet consuming two or three times more data than anywhere else in the world,"
NIFTY TOP GAINERS/LOOSERS
Recommendation: - NIFTY IS AT ALL TIME HIGH TECHNICAL CHART SHOW LONG BULLISH CHANNEL IT MAY TOUCH CHANNEL RESISTANCE AND IT MAY GO CONTINUE ALL TIME HIGH THIS WEEK SO, TRADER CAN BUY ABOVE 12310 TGT -12360 TG-12410 TG -12460 SL-12240
Recommendation: - BANK NIFTY IS AT ALL TIME HIGH TECHNICAL CHART SHOW LONG BULLISH CHANNEL IT MAY TOUCH CHANNEL RESISTANCE AND IT MAY CONTINUE ALL TIME HIGH THIS WEEK SO, TRADER CAN BUY ABOVE 32400 TGT -32500 TG-32600 TG -32700 SL-32250
CALL OF THE WEEK:-
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT TITAN IS TAKING RECOVERY FROM LOW AND UP-TRENDLINE WITH MOVING AVERAGE SHOW BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY ABOVE 1210 TGT 1230 TGT 1250 TG 1270 SL 1190
RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT MINDTREE MAKING ROUNDING BOTTOM PATTERN WITH UP-TRENDLINE REVERSAL SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY ABOVE 790 TGT- 805 TG-820 TG- 835 SL 770
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