Market Updates:
The RBI fell short of its target on liquidity enhancement as it bought about 77% of the targeted Rs 8,000 crore of bond purchases as it did not accept bids at higher yield levels. RBI bought government securities worth 6,157 crore from total bids of 13,765 crore received from investors. It accepted 106 offers. While the central bank received 37 bids for 2025, it did not buy much of the long dated paper. RBI purchased securities worth Rs 5,115 crore from three short-term dated securities -7.17% 2015, 7.59% 2016, 7.83% 2018 and another Rs 1,046 crore from the long-dated 8.20% 2025 through open market operations. The Indian benchmark indices rose with a huge rally tracking positive Asian cues and sharp appreciation in rupee amid expectations the US Federal Reserve will continue with its bond buying program. Sensex closed 451.3 points up or 2.2% at 20850.7 and Nifty closed 132.9 points up or 2.2% at 6189.0.
Nifty Trend For Today:
In our technical reports of today on 19th November, We expect Nifty to trade between 6150-6250. Bias remains bullish. Next move till 6200-6250 spot could be possible.
Hot Stocks For Today: 19th November
- JK Tyre & Industries is to invest Rs 1,430 crore to ramp up capacity at its Chennai manufacturing facility which makes radial tyres for trucks, buses and cars. Moreover, the company is also spending Rs 140 crore at its Mexican subsidiary Tornel to increase capacity by 18% from its present capacity of 3.2 million tyres.
- NTPC has terminated its Rs 700 crore contract with the Italian company Ansaldo for sourcing turbines for its gasbased plant at Dadri in Uttar Pradesh. Finmeccanica is also the parent company of AgustaWestland, which is facing probe after bribery charges were levelled against it in the Rs 3,600-crore helicopter deal with India. The company is also operating a 1,820 MW coal-based plant at the same location.
- Coal India Ltd has hiked the fare it charges from customers for transporting coal from mines to loading points. Since 2009, CIL has not increased the transportation charges. The company has hiked the charges due to increase in diesel prices and wage costs. The revised rates, applicable with effect from November 14, are Rs 57/tonne for 3-10 kms. Earlier, the charge was Rs 44 a tonne.
STOCKS TRADING IN POSITIVE ZONE : GODREJ IND, SRI RAM TRANS FIN
STOCKS TRADING IN NEGATIVE ZONE : EXIDE
Stock Tips For Today: 19th November
- Canara Bank: We recommend a buy above Rs 267 with the stop-loss of Rs 257 for the target of Rs 282.
- Fortis Healthcare: We recommend a Buy in Fortis Healthcare Ltd above Rs 102.50 with the stop-loss of Rs 99.50 for the target of Rs. 108.
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