Published on 11/01/2018 8:51:54 AM | Source: Religare Securities Ltd
Nifty settled on a flat note after trading in a narrow range - Religare Sec
Nifty settled on a flat note after trading in a narrow range throughout the session, indicating some consolidation post the recent up move. However, the broader market indices underperformed and closed with marginal losses. On sectoral performance, IT, Realty and Metal indices were among the gainers, while all the other sectoral indices ended on a weak note. Amongst the global markets, the Asian and European markets indices exhibited mixed trend.
Going forward we would prefer to be cautious and selective, especially in the mid- and small-cap segments, where valuations in several pockets are factoring in a sharp growth in earnings. The focus now is expected to clearly shift to the Q3 earnings season, wherein result outcomes would dictate the trend of not just the respective stock prices but also the market in the near-term.
* Alkem Laboratories has submitted a detailed corrective and preventive action (CAPA) plan to the USFDA within the stipulated timelines in response to two Form 483 observations issued by the regulator. The inspection of the company's manufacturing facility at Baddi has now been closed by the US FDA.
* Simplex Infrastructures has received an order from Mumbai Metropolitan Region Development Authority (MMRDA) for Rs 1,080cr for part design and construction of elevated viaduct and 11 elevated stations.
* Steel Strips Wheels has bagged a maiden exports order from high potential US Truck & Trailer aftermarket for its truck steel wheels. The total annual potential of this business is 45,000 wheels. Wheels to be dispatched from new truck wheels plant in Chennai from this month onwards.
Religare Super Ideas
Buy The Federal Bank @ 110-112 Stoploss 108 Target 118 CMP 113.15
Sell Kaveri Seed Company Ltd Future @ 534-536 Stoploss 546 Target 515 CMP 528.95
To Read Complete Report & Disclaimer Click Here
For Religare Securities Ltd Disclaimer http://old.religareonline.com/research/Disclaimer/Disclaimer_RSL.html
Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer