Market Morning Notes For 17th September 2024
Nifty continued its consolidation in half a percent band on Monday as the market prepares itself for the September FOMC meet commencement tonight. From a trading perspective, there is a formation of rising wedge setup in Nifty 50 Index and this would mean prices are unlikely to sustain beyond 25,575 while reversal is seen on a close below 25,250.Nifty 50 ChartStocks to watchPositive Read throughEMS – To mull fund raise via issue of shares, securities on September 19.Edelweiss – Edelweiss Employees Welfare Trust sells 2.75 mn shares via blocks, Whiteoak Buyer.Vedanta – No disruption to alumina refinery operations after water storage breach.JK Tyre – Board approves scheme of amalgamation of Cavendish Ind with company.TVS Motor – Launches Apache RR 310 starting at an ex-showroom price of Rs. 0.27 mn.Carborundum – To acquire 100 pct stake in US based Silicon Carbide Products for Rs. 560 mn.Tarmat – JV bags order of Rs. 1.39 bn from Maharashtra State Infra Development Corporation.Sandur Manganese – Board approves fund raise up to Rs. 10 bn via QIP.Firstsource – Partners with Microsoft for digital transformation services to clients.SAMIL – To raise up to Rs. 64 bn via QIP, issue price Rs. 186.3-193.79/share.Globus Spirits – Enters luxury segment with Doaab India craft whisky.Indo Count – Arm acquires 81 pct stake in US-based Fluvitex for USD 19.6 mn.HPL Electric – Successfully obtained an order valued at Rs 1.44 bn for supply of smart meters.Strides Pharma – Receives approval from US FDA for generic antidepressant drug Fluoxetine.Negative Read ThroughAllcargo Terminals – Aug volumes dropped 1 pct YoY & MoM at 53.6’000 TEU’s.HEG – Gulshan Kumar Sakhuja resigns as CFO with effect from September 18.India Shelter – Nexus Ventures sells 6 pct stake via block deals, ICICI Pru, SBI Life among buyers.Spice Jet – To raise up to Rs 30 bn via QIP, indicative issue price Rs. 61.6/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.
