Market Trade Lower, Tech Mahindra up after strong results
Sensex, Nifty opened higher on Wednesday tracking positive signals from the global markets, but quickly paired its gains, with Sensex trading down 163 points at 33, 727-level, while the Nifty is down by 53 points at 10,144.90.
Indiabulls Housing, Infosys, Tech Mahindra and UPL are the top gainers, while Dr Reddy’s, Coal India and Tata Steel have lost the most.
Shares in Tech Mahindra were trading up by .75 per cent at Rs 697.10 after the company has posted a 27% rise in net profit compared to the corresponding period last year, beating market expectations. The company has posted a profit of Rs1,064.3 crore.
Stock advice for today are given below-
Buy Tata Power above 77.6 Target 85 SL 70
Buy Torrent Power above 240.25 Target 250 SL 230
Sell Phillips carbon below 230.5 Target 225.99 SL 235
Buy Merck above 3121.4 Target 3200 SL 2900
Buy Andhra bank above 28.5 Target 30.99 SL 24
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