Tit - bits
#The Nifty Futures were trading at a slight
premium (12010) to the Nifty at around 1.30 pm. Nifty is now trading at 12,014.40 down 79.60 points (-0.69%). The markets were down taking overall global clues. However the Shanghai Composite is marginally up by 14.53 points to
2,890.49. I feel the Nifty is likely to take support at around 1200/11800 levels. Fundamentally, strong counters should be accumulated in market dips. While the Nifty is likely to trade in between 11800/12500, the action is expected to shift to beaten down mid and small cap counters.
#Ashoka Buildcon Ltd (Rs.109 35) came out with satisfactory set of numbers for the Q3FY20. On consolidated basis, the construction major reported a consolidated net profit of Rs.32.41 crore in Q3 December 2019 as against a consolidated net loss of Rs.15.72 crore posted in Q3 December 2018. Net sales declined 6.3% YoY to Rs.1280.36 crore in Q3FY20. The stock can be accumulates near the support of Rs.109/110.
#The government plans on reviving the agricultural sector and doubling the income of farmers. The Indian agriculture sector has been experiencing a slowdown since the last couple of years. To overcome this, Finance Minister N. Sitharaman, proposed a 16 point action plan, which included an allotment of Rs.2.83 lakh crore to the agriculture sector and irrigation for FY21.
The FM further said, farmers will be encouraged to make a balanced use of all types of fertilizers to change the ‘incentive regime’ which currently encourages the use of chemical fertilizers. The two fertiliser stocks: GNFC is up by 9.56% to Rs.199.45, while UPL is now trading at Rs.571.85 up by 5.29%.
#HSIL (Face Value: Rs.2), a leader in sanitary ware and which is now into manufacturing of building/consumer products and packaging products, after the denerger of its retail division is up today by 7.60% to Rs. 53 80. The traders can buy the scrip at Rs.53, for short term targets of Rs.62/65. SL: Rs. 47.
#The government plans on reviving the agricultural sector and doubling the income of farmers. The Indian agriculture sector has been experiencing a slowdown since the last couple of years. To overcome this, Finance Minister N. Sitharaman, proposed a 16 point action plan, which included an allotment of Rs.2.83 lakh crore to the agriculture sector and irrigation for FY21.
The FM further said, farmers will be encouraged to make a balanced use of all types of fertilizers to change the ‘incentive regime’ which currently encourages the use of chemical fertilizers. The two fertiliser stocks: GNFC is up by 9.56% to Rs.199.45, while UPL is now trading at Rs.571.85 up by 5.29%.
#HSIL (Face Value: Rs.2), a leader in sanitary ware and which is now into manufacturing of building/consumer products and packaging products, after the denerger of its retail division is up today by 7.60% to Rs. 53 80. The traders can buy the scrip at Rs.53, for short term targets of Rs.62/65. SL: Rs. 47.
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