House View – 08 Apr 2019

Technical View Nifty – 11666
Short Term Target for Nifty is 11000
Short Term Reversal for Nifty is 11761
Crucial Resistance for Nifty is 11761
Intraday levels:
Support 11609 – 11559 Resistance 11761 – 11812
All levels are spot levels

Technical View Bank Nifty – 30085
Short Term Target for Bank Nifty is 28000
Short Term Reversal for Bank Nifty is 30730
Crucial Resistance for Bank Nifty is at 30648
Intraday levels:
Support 29809 – 29549 Resistance 30241 – 30648
All levels are spot levels

Tata Steel
Tata Steel Reports strong Production numbers
INDIA SALES Q4 (QoQ)Standalone +20% at3.58 mt vs 2.97 mt
Bhushan Steel +25% at 1.15 mt vs 0.92 mt
EUROPE BIZ Q4 (QoQ)Sales +9% at 2.55 mt vs 2.35 mt.
Industry – Iron and Steel
CMP – Rs. 548
52 Week High – Rs. 647
52 Week Low – Rs. 442
Impact – Positive

Torrent Pharma
The U.S. FDA issued certain observations for Dahej unit during March Audit.
The have received observations which are procedural in nature.
Industry – Pharmaceuticals
CMP – Rs. 1848.9
52 Week High – Rs. 1964
52 Week Low – Rs. 1266.7
Impact – Negative

Wockhardt
Promoter plans to demerge its India formulations business and sell a significant
minority stake as a last attempt to repay its mounting debt . Wockhardt’s
promoter is looking for a valuation of Rs.5,000 crore, or 4 times of the domestic
formulations revenue . Management has discussed the new plan with lenders
where a 25-30% stake will be diluted if the plans get materialized.
Industry – Pharmaceuticals
CMP – Rs. 442.45
52 Week High – Rs. 852.55
52 Week Low – Rs. 375
Impact – Positive

Cadila Healthcare
Received the tentative approval from the U.S. FDA to market Tofacitinib
bTablets which is used to treat moderate to severe forms of rheumatoid
arthritis.
Industry – Pharmaceuticals
CMP – Rs. 345
52 Week High – Rs. 432
52 Week Low – Rs. 306
Impact – Positive

NIIT Tech
Baring Private Equity Asia to acquire 30% in NIIT Technologies from NIIT Ltd. and
other promoter entities at Rs 1,394 per share. Baring to make an open offer to
acquire 26% stake from public shareholders of NIIT Tech at Rs 1394. NIIT Ltd. will
get Rs 2,020 crore from Baring for its stake in NIIT Tech.
Industry – IT Consulting & Software
CMP – Rs. 1349.5
52 Week High – Rs. 1425
52 Week Low – Rs. 862.1
Impact – Positive