Stocks in the news

HDFC Bank | Aurobindo | CG Power | Ashoka Buildcon | Khadim India |

CG Power | Ashoka Buildcon | Hinduja Global Solutions | Khadim India | HDFC Bank and Aurobindo Pharma 

 stocks which are in the news today.

Aurobindo Pharma: USA unit entered in pact with Profectus BioSciences to buy certain business assets for $11.29 million.
CG Power: Company cancelled royalty pact worth Rs 411.2 crore with Avantha Holdings.
BPCL - Labour and clerical workmen of marketing and refineries are observing 1 day strike from the morning of November 28 to till the morning of November 29
Ashoka Buildcon: Company received Letter of Award for development of Bundelkhand Expressway Project.
Kohinoor Foods: Oriental Bank of Commerce declared company as wilful defaulters as per RBI guidelines.
PC Jeweller - CARE cut company's FD rating to B with stable outlook
ICICI Securities piad Rs 28.6 lakh to SEBI towards settlement amount in the matter of 2 trading accounts that were opened in January 2007 and July 2008 by account holders by misrepresenting their identities

ONGC issued USD 300 mn notes under MTN program. The notes are rated Baa1 from Moody's Investors Service and BBB- from S&P Global Ratings
Lemon Tree launched  101 rooms hotel - 'Red Fox Hotel in Vijayawada, Andhra Pradesh
Fortis Healthcare - CARE withdraws ‘BBB-/ A3, credit watch with developing implications’ rating for long term bank facilities and short term facilities
IL&FS Engineering Services: Arbitration Tribunal gives an award for Rs 492 crore for claim filed against NHAI by Bangalore Elevated Tollway Private Ltd.
BEML: Company appointed R Panneer Selvam as Director (Human Resources) on board of company.
HDFC Bank: The lender formed a 6-member committee to find a successor MD, Aditya Puri.
Indiabulls Housing Finance: Government Affidavit filed provided a true & clear picture about allegations.
Hinduja Global Solutions: Company entered into a definitive agreement for sale of its India domestic Customer Relationship Management (CRM) business to Altruist India Private Limited, based out of Panchkula, Haryana and operates BPO units across the country.
Khadim India: Company redeemed commercial paper of an aggregate amount of Rs 30 crore.
Bharti Airtel submits Rs 9,500-cr bids for RCom assets - PTI
CCI approves 37.4% stake-buy, joint control of Adani Gas by Total Group - PTI

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Stocks in the news

Cipla | Lemon Tree Hotels | Satin Creditcare | BSE | Shiva Cement | Balaji Amines |

Escorts | Lemon Tree Hotels | Satin Creditcare | Rane Holdings | Orient Bell and Autoline Industries are stocks which are in news today.

Here are the stocks that are in news today:

Balaji Amines receives environmental clearance for setting up organic and specialty chemicals manufacturing unit at Solapur, Maharashtra

Cipla's subsidiary signs agreement with City Health Imports to acquire the remaining 40% stake in Cipla Pharma Lanka
Escorts: D J Kakalia resigned as the independent director of the company.
Manappuram Finance: S&P Global Ratings has given ‘BB-' long-term and ‘B’ short-term ratings with stable outlook.
Tata Communications and Kacific ink global IP connectivity and cyber security deal
RBL Bank board meet on November 30 to consider fund raising via issue of equity shares on a Preferential basis
Jet Airways' CoC passed to file an application for the extension of the Corporate Insolvency Resolution Process by another 90 days

Infra stocks in focus
Govt chalks out plan for Rs 100 lakh cr investment in infra over 5 years: Piyush Goyal
Auto industry problems essentially derived from SC order to upgrade to BS-VI: Nirmala Sitharaman
Orient Bell: CRISIL has reaffirmed long-term rating as "CRISIL A-" with negative outlook.
Rane Holdings: ICRA has reaffirmed the long-term rating for the captioned line of credit (LOC) at "ICRA AA-" with a stable outlook.
Lemon Tree Hotels: RJ Corp sold 1.1 crore shares or approximately 1.4 percent stake of Lemon Tree Hotels in an open market transaction.
Ceat signs share subscription and shareholders’ agreement with Greenzest Solar and Cleantech India OA Pte. for subscribing to at least 26% of total equity share capital of Greenzest
Satin Creditcare: Morgan Stanley sold 2.38 lakh shares (0.46 percent equity) on November 25 via the open market.
Shiva Cement: JSW Cement raised the capacity target to 25 mtpa by 2023, with a total capex investment of Rs 2,875 crore.
Rane Holdings: ICRA reaffirmed long-term rating to Rs 50 crore bank facilities of the company at AA- with a stable outlook.
BSE Limited: Board approved selling 4 percent stake in CDSL via offer for sale.
Autoline Industries: The company entered into an agreement with Kinetic Green Energy and Power Solutions for E-cycles.
Enkei Wheels: The company entered into Joint Venture Agreement with Nikkei MC Aluminium Co (Japan), Century Metal Recycling, Enkei Corporation (Japan).
Videocon Industries reported a loss of Rs 6,760.75 crore for FY19 against Rs Rs 5,264.04 crore in the year ago period
Hero MotoCorp stopped the production of over 50 variants of its Bharat Stage IV models
Zee Entertainment announces he resignation of independent directors Sunil Sharma and Neharika Vohra, and non-independent director Subodh Kumar
Tata Steel confirms 1,000 job cuts in UK as talks with workers kick off - PTI
Govt has no plans to reduce price for 5G spectrum - PTI
NTPC signs MoU with C'garh govt for medical college expansion - PTI

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Hot Stocks:

Nifty may head towards 12,150-12,200 in next few sessions

Volatility is likely to grip the market this week as we approach the end of the November series expiry, given the fact that we are trading near record highs.

After testing record highs in November 26 session, the Nifty slipped back into the red and ended the day in the negative on the back of profit booking at higher levels. However, the index managed to close above 12,000 levels, which should now act as immediate support in coming sessions.On the derivative front as well, 12,000 strike Put holds maximum open interest of more than 46 lakh shares. In the recent rally, Call writers at 12,000 strikes were covering their short positions and creating fresh longs positions, which indicates that the bullish momentum is likely to continue.On the technical front as well, the Nifty has given a decisive move above 12,000 levels after consolidating for more than two weeks in the 11,800-12,000 range.The consolidation breakout hints at more price upsides in coming sessions towards 12,150-12,200 levels.

However, volatility is likely to grip the market this week as we approach the end of the November series expiry, given the fact that we are trading near record highs.

Here is a list of top three stocks that could return 8-10 percent in the next three-to-four weeks:

Dr. Reddy's Laboratories Ltd: Buy| Target: Rs 3200| Stop Loss: Rs 2800| Upside 8%

The stock has been maintaining its uptrend and is trading in a rising channel on the daily as well as on the weekly interval. At the current juncture, the stock has formed an inverted head and shoulder pattern on the daily charts and also managed to give a breakout above the neckline of the pattern formation.From the derivative front as well, we have observed a long buildup into the prices with marginally higher volumes which suggest for more upside in the coming sessions.

Traders can accumulate the stock in the range of Rs 2,950-2,965 for the upside target of Rs 3,200 levels with stop loss below Rs 2,800.

Carborundum Universal Ltd: Buy| Target: Rs 352| Stop Loss: Rs 300| Upside 10%

Since long, the stock has been trading well below its short and long-term moving averages and tested lows of Rs 265 levels in late August’19.

However, the recovery into the prices has been witnessed since then as once again prices clock above its long term moving averages on daily charts. At current juncture stock has formed a cup and handle pattern which is a bullish signal for the prices moving forward.Traders can accumulate the stock in a range of Rs 320-325 for the upside target of Rs 352 levels, and keep a stop loss below Rs 300.

Axis Bank Ltd: Buy| Target: Rs 825| Stop Loss: Rs 700| Upside 10%

After testing 650 levels, the stock gave a smart recovery and has once again managed to reclaim above its long-term moving averages on the daily charts.For more than four weeks, it has been consolidating in a broader range of Rs 700-750 along with consistent buying on every dip. The stock has given a consolidation breakout above the key resistance level of 750 this week along with marginally higher volumes.The positive divergence on the secondary oscillators also suggests for the next up leg into the prices. So, traders can accumulate the stock in the range of 750-753 levels for the upside target of 825 levels, and a stop loss can be placed below Rs 700.

(The author is Sr. Technical Analyst at SMC Global Securities Ltd)

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.    

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Hot Stocks

Wait continues for record highs; pharma on the path of revival.

Last week, stocks from infrastructure space seem to be buzzing along with pharma stocks, which appear to have come out of their slumber.

The market was a bit joyful at the beginning of last week, and in-line with this, Nifty continued its march beyond 12,000 by mid-week.However, once again, the benchmark index looked a bit tentative at higher levels and in last couple of days, this tentativeness resulted into a decline towards the 11,900 mark.Eventually, for the third consecutive week, Nifty ended on a flat note with nominal gains of nearly two tenths of a percent to the previous weekly close.Due to the recent price action, the weekly chart now depicts three back to back ‘Doji’ candles. This indicates some indecision at a crucial juncture, but we don’t interpret it as a sign of caution. It seems that the market is now awaiting some trigger to clock fresh record highs.

Meanwhile, the range is confined to merely 200 points on a weekly basis. Only a decisive breakout outside this range would trigger some momentum in the market.

In our sense, 11880 – 11,800 would be seen as immediate base and it’s a matter of time, we would break through this sturdy wall of 12,050 – 12,100 to enter uncharted territory.With reference to our recent articles, although the benchmark index is trapped in a range, a lot of individual themes are doing well since last few days.This week, stocks from infrastructure space seem to be buzzing along with pharma stocks, which appear to have come out of their slumber.

Do watch out for such potential themes that are likely to provide better trading opportunities.

Here is a list of two buy stocks for the 1-3 weeks:

Kalyani Steels: Buy | LTP: Rs 224.45 | Target: Rs 260 | Stop loss: Rs 206

Recently, the stock managed break out from its congestion zone. If we look at the overall volume activity, it has risen substantially; providing credence to the up-move.

This breakout was followed by a strong surge, and then the stock went into a consolidation mode.

On Friday, the stock's prices managed a v-shaped recovery from its lower levels and the way it’s shaped up now, we are anticipating yet another breakout to the rally.We recommend buying this stock at current levels for a target of Rs 260 over the next 14 sessions. The stop loss should be fixed at Rs 206.

Lupin: Buy | LTP: Rs 771.90 | Target: Rs 824 |Stop loss: Rs 748

After a long stint of under performance, the pharma space is now on the path to revival.On the daily chart, after a recent sharp bounce from the levels of Rs 646 to the recent high of Rs 787, prices have witnessed a price wise correction.The said, correction is forming a base of around 50 percent retracement of the above rally, and the price structure suggested a resumption of up-move very soon.

In line with this, the stock went on to confirm a ‘Bullish Cup and Handle’ pattern on the daily chart by breaking out from a crucial resistance of Rs 765. Looking at the overall set up, we would expect an extension of recent up move in this counter.

Hence, we recommend buying this stock at current levels for a target of Rs 824 over the next few days. The stop loss should be fixed at Rs 748.

(The author is chief analyst-technical & derivatives, Angel Broking)

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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ZEE promoter group sells 14.28 crore of company shares

The big buyers were Government of Singapore which bought 28,500,000 shares and Society General bought 16,690,000 shares of the company.

The promoter group of Zee Entertainment Enterprises (ZEEL) sold more than 14 crore shares in bulk deals on November 21.Promoters Cyquator Media Services sold 61,626,543 shares, ESSEL Corporate LLP sold 11,838,350 shares, and ESSEL Media Ventures sold 69,403,106 shares in the company via bulk deals at an average price of Rs 304 per share.The big buyers were Government of Singapore which bought 28,500,000 shares and Societe Generale bought 16,690,000 shares of the company. Other buyers were JNL Invesco Global Real Estate Fund (8,250,000 shares), Key Square Master Fund II LP (6,000,000 shares), Norges Bank On Account Of The Government Pension Fund Global (7,000,000 shares) and Smallcap World Fund INC (7,673,492 shares). ZEEL share price ended at Rs 345.25 up by Rs 38.10 or 12.40 percent on the BSE after the activity.

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Hot Stocks

A close above 12,050 will open doors for Nifty to touch 12,300 levels

In case of any decline, Nifty will continue to find support around 11,800-11,700 levels, which coincides with horizontal trend line supports and will act as a line of polarity.

The benchmark index has formed a Small Rounding Bottom pattern on the daily chart, and the base for that got created near 11,800 levels. The Nifty sustained its gap-up opening on November 20 but witnessed mild profit booking on an intraday trading basis.

In the last few sessions, we saw cooling off in the Nifty as it went through some consolidation phase as well. But, the gap-up opening of November 20 looks encouraging now as it managed to give a convincing close beyond its previous seven days candle on a daily basis with slightly average volume.

In the derivatives front, put writing was seen at 11,800-11,700 strike prices, indicating Nifty is likely to find strong support in the 11,700-11,800 range.

Unless Nifty closes below it, the trend would be considered bullish for the markets from the derivative side. On the higher side, call writing was seen at 12,000 levels.

The Nifty Metal and Pharma index is well poised for a new rally which can be visible on the weekly chart. State-run banks are a major center of attraction since the past couple of trading sessions and current chart formation suggests that investors should hold on to their bullish positions with trailing stop loss.

The Nifty Bank, on the other hand, is showing continuous out performance against benchmark Nifty.

In case of any decline, the index will continue to find support around 11,800-11,700 levels, which coincides with horizontal trend line supports and will act as a line of polarity (resistance will act as support).

However, a stable move above 12,050 levels will invalidate resistance and strengthen the index to record new life-time-high until 12,300 odd levels.

PSU banking index is currently outperforming the Bank Nifty. After a recent consolidation Canara Bank witnessed a breakout from the Inverted Head & Shoulder Pattern on a daily timeline.

Currently, prices are trading above its neckline support which is positive for the counter. The stock is trading above its 20, 50, 100-Days exponential moving averages (EMA), which is a bullish sign for the prices.

On the weekly interval, prices have retested its trendline support of a falling wedge pattern and sudden reversal was witnessed in prices. The Daily RSI (14) has shifted above 60 levels with positive crossovers, which is positive for the stock.

Traders can accumulate the stock in a range of Rs 221-223 for the target of Rs 238.50, and a stop loss could be placed below Rs 213 on a daily closing basis.

The current throwback in Torrent Pharma has given investors an opportunity to buy near its trendline support. The stock has broken out from the Falling Trendline on the weekly charts a couple of weeks ago by closing above the resistance level of Rs 1,700 level.

Oscillators and momentum Indicators like RSI and MACD are showing strength in the stock on the weekly charts.

The stock is trading above its 20, 50, and 100-Days Exponential Moving Averages (EMA) on the weekly interval which is a bullish sign for the prices.

Traders can accumulate the stock in the range of Rs 1,732 – 1,750 for the target of Rs 1,890, and a stop loss could be placed below Rs 1,655 on a daily closing basis.

Aditya Birla Fashion & Retail has witnessed a breakout in prices after seven weeks of consolidation and currently sustaining above its horizontal trendline on a weekly interval.

Currently, prices are sailing above all its major exponential moving averages (100 & 200 EMA), which is extremely positive for the prices.

Monthly price action surely suggests prices are getting ready for uninterrupted rally as prices are moving ahead out consolidation range.

The momentum indicator RSI (14) has witnessed a bounce back from 40 levels and currently reading above 55 marks with positive crossover.

Traders can accumulate the stock in the range of Rs 214.50 – 217.50 for the target of Rs 242, and a stop loss could be placed below Rs 200 on a daily closing basis. The author is Technical Analyst, Bonanza Portfolio

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Gold price today

| Yellow | metal | range | bound | on | Sino-US | trade |  buy | on dips |

On the downside, 38,000-37,950 will act as support and move above 38220 will lead to an upside breakout towards 38,450 levels.

Gold December futures were trading in a narrow range on November 20 following mixed cues around the US-China trade deal, and ahead of US Fed minutes.

The United States would raise tariffs on Chinese imports if no deal is reached with Beijing to end a trade war, US President Donald Trump said on Tuesday.

Gold settled above $1,470 and Silver settled above $17 per troy ounce in the international market on Tuesday. Due to the strength in rupee, Gold settled with minor loss while Silver settled with gains in the domestic market.

Gold December futures slip 0.09 percent at Rs 38,172 per 10 gram at 09:20 hours. It closed 0.06 percent lower at Rs 38,205.

Track live Gold price here

“Gold and Silver prices are expected to remain volatile ahead of US Fed meeting minutes and US-China trade deal odds. If Gold prices sustain above $1,472 could test $1,484 levels and Silver prices sustaining above $17 per troy ounce could test $17.34 levels,” Manoj Kumar Jain, Director at IndiaNivesh Commodities told Moneycontrol.

“Gold prices likely to hold above 38,050, and could test 38,330. The level of Rs 37,920 is likely to act as a major support for Gold. Silver prices sustain above 44,700 could test 45,100 again, 44,400 act as major support for silver. Buy on dip strategy will work in both the precious metals,”
Trading Strategy:
Expert: Pritam Kumar Patnaik, Head Commodities, Reliance Commodities
MCX Gold December has been trading with volatility on back movement in USDINR. International Gold has been trading in sideways to a positive trend. Thus one should adopt buy on dips strategy.
On the downside, 38,000-37,950 will act as support and move above 38,220 will lead to an upside breakout towards 38,450 levels.
Intraday strategy: Traders can buy MCX Gold December futures in the range of 38,130-38,070 for a target of 38,300-38,330 levels, and a stop loss can be placed below Rs 38,000.
Expert: Jateen Trivedi, Sr. Research Analyst - Commodity & Currency at LKP Securities Ltd
On the daily chart, Gold bounced strongly in evening sessions showing positivity on Tuesday. The ATR has significantly dropped from 500+ in Sep19 to below 400 showing signs of less of trending & more of a news based reaction market for more than a month now.
For the day, on the upside 38,350-38,650 shall act as supply zone & 38,100-37,900 acts as support.
Silver prices closed positive on Tuesday and are trading below 20 & 50-Days EMA which is placed at Rs 45,200. On the upside 44,900-45,700 is the major supply zone & on the downside 43,550-43,100 shall act as demand zone.
Till the time prices are trading below 46,000 weakness seem likely to continue on rises. But Since Gold prices are stable some rallies towards 50EMA (45200) seem likely.
Technical indicator MACD is suggesting flat to weak trend can be seen which suggests profit booking after rises will be on cards till the time below 46000.

Expert: Hareesh V- Head Commodity Research at Geojit Financial Services
MCX Gold December: The immediate resistance of Rs 38,300 needs to be cleared for the continuation of upticks for the day. A direct rise above the same would be an early signal of strong buying momentum towards Rs 38,440 or even more. However, the inability to break the same would call for corrective selling pressure possibly towards Rs 37,950.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

TAGS #COMEX #Gold Price Today #Gold Rate Today #India Gold #MCX GOLD #Silver Price Today #Silver Rate Today

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