Stock Market Opening Bell 28-Feb-2019: CapitalHeight

Stock Market Opening Bell

CH: OPENING BELL

NIFTY FUTURE UP 40 @ 10849

BANK NIFTY FUTURE UP 71 @ 26887

SENSEX UP 157 @ 36062

INR @ 71.15

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Bank Nifty Market Trend for 28-Feb-2019:

CH: OUTLOOK

BANK NIFTY- CONS.(26475-27260)

NIFTY-CONS.(10725-10885)STRATEGY SELL

SGX NIFTY 32DOW -72.82

ASAIN MKT MIX

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TVS Motor gains 2% after Deutsche Bank upgrades, but cuts price target.

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TVS Motor Company shares gained 2 percent in morning on Wednesday after global brokerage firm Deutsche Bank upgraded its rating on stock to hold, but slashed price target to Rs 455 from Rs 465 apiece.

The stock was quoting at Rs 464.30, up Rs 8.45, or 1.85 percent on the BSE, at 09:35 hours IST.

The reason behind cut in price target was that the brokerage made changes to FY19-21 EBITDA & EBIT forecasts by -1 to +3 percent and cut EPS estimates by 3-8 percent.

Deutsche upgraded the stock because it feels the company has been approaching a sweet spot in various categories and may see a sustained increase in margin.

Stronger market share is the key to margin expansion, it said.

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Royal Orchid Hotels rallies 3% on opening hotel in Gujarat

Royal Orchid Hotels rallies 3% on opening hotel in Gujarat

Royal Orchid Hotels shares gained more than 3 percent intraday on Wednesday after the company opened its new hotel, Regenta Central Harsha in Vapi, Gujarat.

The stock was quoting at Rs 103.65, up Rs 2.90, or 2.88 percent on the BSE, at 11:21 hours IST.

The hotel has 57 well equipped and luxurious rooms.

“We are putting our continuous effort to expand footprint at strategic locations in the country ensuring a memorable stay for the travellers,” Chander K Baljee, Managing Director, Royal Orchid Hotels said.

In the last two years the company has spread across the country with conscious selection of economically growing cities which welcomes trade and new businesses, he added.

Royal Orchid Hotels primarily operates a blend of 5 star, 4 stars, leisure, business and adventure hotels. It currently operates 48 hotels across the country.

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StocktoWatch Today :Narayana Hrudayalaya

On the daily charts, Narayana Hrudayalaya Ltd is on the verge of a breakout from the consolidation pattern after taking support at the pivot level placed at 188.A sustained trade above 200 can trigger a breakout from the consolidation resuming the uptrend.

The stock has turned upwards after forming a hammer on the daily charts suggesting trend reversal i.e. bulls will going to take charge. Buy Narayana Hrudayalaya around 205-206 with a stop loss of 190 for the targets of 214-224.

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• The alleged mastermind of the Pulwama attack, Jaish e Mohammed commander Abdul Rasheed Ghazi is believed to have trained at the Balakot training camp that was razed to the ground by air force jets early on Tuesday morning.

•Max India said Tuesday it has sold its entire 51 per cent stake in Max Bupa Health Insurance Co Ltd (Max Bupa) to private equity firm True North Fund VI LLP for over Rs 510 crore.

Market Commentary:

The Sensex was down 239.67 points at 35973.71, while Nifty was down 44.80 points at 10835.30.

ZEEL, TATAMOTORS, IOC, COALINDIA, TCS were the top gainers among Nifty 50 stocks while IBULHSGFIN,HCLTECH, HDFC, ICICIBANK, INFY were the top losers.

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