Market Morning Notes For 29th August 2024
Markets activity remained restricted in a narrow range with Nifty ending above 25,000 on back of positive global cues after scaling to new all-time high. Bank Nifty has been showing underperformance and often provides early divergence before reversal or a major change. For Nifty, crucial support seen at 24665 below which, we can expect larger degree of correction to get activated.Nifty 50 ChartStocks to watchPositive Read throughVedanta – To consider 3rd interim dividend for FY25 on September 2.Reliance – Gets CCI nod for USD 8.5 bn mega merger with Disney’s Indian Media Assets.Lemon Tree – Signs an agreement for a 72- room property in Ujjain, MP.KEC Intl – Bags orders worth Rs. 11.71 bn for its T&D business in Middle East.TV18 – Gets CCI nod for USD 8.5 bn mega merger with Disney’s Indian Media Assets.HCLTech – Expect double-digit growth in medium term, demand outlook optimistic.Welspun Living – Promoter to sell up to 4.6 pct stake via block deals, floor price Rs. 197/sh.NLC – 25-year power usage agreement with Telangana for 200 mwNalco – JV company Kabil signs MoU with oil for mineral explorationPB Fin – Tencent cloud to sell 2.1 pct stake via blocks, floor price Rs. 1,660.2/shPaytm – Paytm Payment Services Limited gets FDI approval.Transformers & Rectifiers – Gets Export Order of USD 14 mn from Linxon Global SwedenL&T – Company’s semiconductor subsidiary signs accord with C-DAC.Mirc Electronics – Board Meeting on Sept 2 to Consider Fund Raise via Rights Issue.DCX Systems – Secures a purchase order of USD 22 mnGenus Power – Wins orders worth Rs. 44.69 bn.Negative Read throughSBI Cards – July average ticket size declined 6 pct YoY, market share slipped.Indigo – Rakesh Gangwal to sell up to 3.8 pct stake via blocks, at Rs. 4,539/share, as per reports.RR Kabel – Temporarily shut operations for a day at Waghodia plant due to heavy rainfall.MTNL – Union Bank freezes MTNL’s accounts over non-payment of dues.Financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 2499/-Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
