WEEKLY EQUITY NEWSLETTER 28TH FEB TO 6TH MARCH 2020

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WEEKLY EQUITY NEWSLETTER 28 FEB TO 6 MARCH 2020
TH TH
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MARKET UPDATES
State-owned power major NTPC on Friday said
its 250 mw unit of Barauni Thermal Power Station
in Bihar will start commercial operation from
March 1. In a regulatory filing, NTPC said the
250 megawatt (mw) unit of Barauni Thermal Power
Station Stage-II (2 x 250 MW) is declared on
commercial operation with effect from March 1,
this year. With this, the commercial capacity
NTPC and NTPC group will become 48,895 mw and
57,356 mw respectively, the filing said. Barauni
Thermal Power Station (720 mw) is located at
Begusarai district in Bihar.
Godrej Properties has bought about 3 acre land
parcel in Mumbai from DIC India Ltd for Rs 153
crore. The company said in a statement that it
has "entered into an agreement to purchase land
in the upcoming fast developing micro-market of
Chandivali, Mumbai." Spread across about 3 acres,
this project will offer 0.45 million square feet
of saleable area primarily comprising residential
apartments with a small amount of retail space.
Separately, DIC India said in a regulatory filing
that its board has approved the sale of land
located at Chandivali.
Shares of Bandhan Bank slipped 7 per cent to
Rs 370.60 on the BSE on Friday, thus erasing
entire gain recorded since Tuesday after the
Reserve Bank of India (RBI) lifted restrictions
placed on the bank from opening new branches. The
private sector lender's stock was quoting close
to its all-time low of Rs 369.15, touched on
October 16, 2018. The bank issued shares at Rs
375 per share in its initial public offer (IPO)
and debuted on the bourses on March 27, 2018. The
stock touched an all-time high of Rs 741 on
August 9, 2018. With todays fall, Bandhan Bank
has tanked 27 per cent thus far in the calendar
year 2020.
Shares of Tata Motors tumbled 10 per cent to
Rs 130.50 on the BSE on Friday on reports that
the Competition Commission of India is examining
allegations that the company and two finance
firms of its 100 billion parent group abused
their market position while selling commercial
vehicles. Besides, heavy selling was seen at the
counter as concerns on China- originated corona
virus becoming a pandemic soured sentiment. China
is one of Tata Motors' most significant markets
in terms of volume and profit. The automobile
company allegedly dictated terms around the
quantity and type of vehicles its former dealer
in northern India- Varanasi Auto Sales-should
stock, news agency Reuters reported.
Gujarat Cooperative Milk Marketing Federation
(GCMMF)'s flagship Amul Dairy is set to acquire
Heritage Foods Ltd's dairy plant in Punjab for Rs
21.20 crore.Heritage Foods Ltd's Board of
Directors on Friday approved the sale of "all
tangible assets" of the dairy plant located at
Bhambri village of Fatehgarh Sahib district in
Punjab, the company said in its filing with
exchanges. The move is part of its business
rationalisation in northern India. The board
approved the sale to Anand-based Kaira District
Milk Producers Union Ltd (Amul Dairy), the
flagship dairy under GCMMF.
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NIFTY TOP GAINERS/LOOSERS
GAINERS
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LOOSERS
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WORLD INDICES
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TECHNICAL VIEW-
NIFTY
Recommendation - NIFTY IS DOWN MAKING DOUBLE TOP
PATTERN AND UP-TRENDLINE WITH SUPPORT LEVEL
BREAKOUT NOW FINDING NEW SUPPORT AT 10840 WITH
MOVING AVERAGE INDICATOR SHOWS SELL SINGLE. SO,
TRADER CANS SELL BELOW 11110 TG-11060 TG-11010
TG-
10960 SL- 11170
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BANK NIFTY
Recommendation - NIFTY BANK IS DOWN MAKING
DOUBLE
TOP PATTERN AND UP-TRENDLINE WITH SUPPORT LEVEL
BREAKOUT NOW FINDING NEW SUPPORT AT 27000 WITH
MOVING AVERAGE INDICATOR SHOWS SELL SINGLE. SO,
TRADER CANS SELL BELOW SELL SINGLE. SO, TRADER
CAN
SELL BELOW 29050 TG-28950 TG-28850 TG-28750 SL
29200
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CALL OF THE WEEK-
TCNSBRANDS
RECOMMENDATION AS YOU SEEN IN THE TECHNICAL
CHART THAT
TCNSBRANDS BREAKOUT BULLISH HARAMI PATTERN, WITH
SUPPORT
REVERSAL SHOW BUY SIGNAL SO TRADER CAN MAKE
THEIR POSITION BUY
ABOVE 600 TG- 620 TG-640 TG-660 SL 570
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ERIS
RECOMMENDATION AS YOU SEEN IN THE CHARTS THAT
ERIS MAKING
BULLISH ENGULFING PATTERN WITH SUPPORT REVERSAL
SHOWS BUY
SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY
ABOVE 440.5 TG- 415
TG- 430 TG- 445 SL 420
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References-
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