Market Morning Notes For 26th September 2024
Markets managed to recoup early losses on Wednesday to end with modest gains above psychological barrier of 26,000 ahead of crucial F&O expiry. The Nifty ETF has been portraying elevated risk as a move below 25,800 would be confirming completion of rising wedge setup thus opening for downside potential of 11%. The upside momentum may be coming towards an end as Mutual Funds are forced to deploy excess liquidity in Sept quarter end in large cap stocks. Overall view remains cautious.Nifty 50 ChartStocks to watchPositive Read throughTata Motors – JLR plans to spend POUND 500 mn for retooling UK plant for electric SUV.Cipla – Cipla (EU) to acquire entire 6.9 pct stake of Xidi in company’s China unit for approx Rs. 430 mn.Uno Minda – Arm inks licence agreement with Hyundai Entity to make speakers.KRSNAA – To acquire 23.53 pct stake in Apulki Health for exclusive rights to provide diagnostic services.Hind Copper – Board recommends sale of entire assets of copper ore tailing beneficiation plant.KPL Green – Gets LoA to develop 66.20 MW hybrid power project under CPP segment.Greenlam Ind – Sets up arm in Bangladesh for product distribution.IDFC Ltd – NCLT nod to merge IDFC Fin Holdings with company, & IDFC Ltd into & with IDFC First Bank.JBM Auto – Incorporates arm in Singapore for international EV business.Zen Tech – Launches remote- controlled weapon & surveillance systems.Zaggle Prepaid – To acquire 26 pct in Mobileware Tech for Rs. 156 mn.Uno Minda – In agreement with Hyundai Mobis for manufacturing of licensed products.TVS Holdings – Gets CCI nod for acquisition of 80.74 pct of Home Credit India Finance.Auto Stocks – Karnataka government plans new electric vehicle policy with tax exemptions and incentives.Negative Read throughPB Fintech – Company exploring plans to enter healthcare space.Easy Trip – promoter sells 14 pct stake via block deals, Craft EM Fund, Core4 among buyers.KPR Mill – Promoter sells 3.2 pct equity via blocks, SBI MF buys 2.85 pct stake.Ask Automotive – Promoter Kuldip Singh Rathee to sell 6 pct stake via OFS, Floor price Rs. 433/share.Five Star – PE investor, to sell up to 19.22 pct stake, floor price at Rs. 768/share.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.
