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CAPITALSTARS – भारत में खरीदारी के लिए बेहतर हैं ये स्‍टॉक: 14 MAY 2019

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Morning news and update

No respite for the Nifty as it extended its southward move for the ninth straight day and logged the longest losing streak in eight years. Nifty settled below the 11,150 mark with a cut of over a per cent. The price action formed a long bear candle. With this downmove, the index has filled the upside gap created on March 12. In the coming session, the zone of 11,035-11,070 would now act as a strong support level as it is the confluence of the 61.8 per cent retracement of the entire upmove from the low of February to the April high and the rising 200 DMA. With the RSI almost near the oversold region of 30 and after a continued descend in the last nine trading sessions, Nifty has created scope for a technical pullbacks, which are likely to be resisted around the levels of 11,220 followed by 11,300.

Lux Industries: The company has sold the entire stake held by it in its subsidiary Altai Industries Private Limited.

Engineers India: The company has signed a contract with the state-owned Mangol Refinery, for providing its PMC services for construction of a crude oil refinery plant in Mongolia.

Tata Power: Tata Power and Mahanagar Gas Ltd will collaborate to offer integrated services.

Avadh Sugar & Energy: The board has recommended the issue of bonus shares in the ratio of 1:1, subject to the shareholder approval through postal ballot.

Delta Corp: The company has clarified in connection with the news report on alleged Rs 6,189 crore GST evasions that it has not received any notice of a case having been booked against Delta Corp Limited or Highstreet Cruises and Entertainment Private Limited for any alleged evasion of GST. The company believes that it is in compliance with GST laws and have not evaded any GST.

Shankara Building Products: The company plans to partially sell assets worth Rs 70 crore of Taurus Value Steel & Pipes Pvt Ltd. a wholly-owned subsidiary of the company, to APL Apollo Tubes. The transaction also implies a release of working capital of Rs 100 crore.

Bajaj Finance: Bajaj Finance plans to consider revision in external commercial borrowing (ECB) limit on May 16. The current structure shows that around $700 million has been approved by the board to be raised as ECBs.

D-Link: The company has received show-cause notice (SCN) worth Rs 7.93 crore from the Customs Department. The company said an amount of Rs 4 crore was paid in advance to avoid any delay in the day to-day operations. The company is currently examining the aforesaid SCN and will take necessary action on the same.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

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