Market Morning Notes For 20th August 2024

Markets witnessed range bound movement on Monday with Bank Nifty ending in losses while Nifty managed to post modest gains on back of upbeat global markets. With EURINR and GBPINR hitting all time high today, this may turn out to be litmus test for Indian markets how it deals with depreciating rupee. Both the currencies are on a verge of a major breakout and could trigger knee jerk spike of 8-10% on upside. For Nifty, below 24,500 seems to be a support for now.Nifty50 ChartStocks to watchPositive Read throughIndusInd Bank – RBI approval for Mutual Fund business via a new subsidiary.Allcargo Logistics – July posted highest ever monthly volume, up 6 pct MoM & 5 pct YoY.Nucleus Software – To consider share buyback on 22 August, 2024.Hi-Tech Pipes – To raise funds up to Rs. 6 bn via QIP or other methods.Sequent – Gets pre-qualification approval from WHO for albendazole API.Hazoor Multi – Declared lowest bidder for a project of Rs. 2.74 bn from MSIDC.Suraj Estate – To raise up to Rs. 5 bn via issue of preference shares and warrants.Quess Corp – Gets BSE & NSE approval for demerger process.Tata Motors & Tata Motors DVR – Sets September 1 as official record date for share capital reduction scheme.DCM Shriram – Successfully commissioned a new Hydrogen Peroxide (H₂O₂) plant.Negative Read throughHCL Tech – Shiv Walia will replace Prateek Aggarwal as CFO.Bajaj Auto – To provide for Rs. 2.11 bn in Q2FY25 for indexation benefit withdrawn on debt MF LTCG.Zomato – Alibaba arm increased block size, to sell 2 pct stake at floor price of Rs.251.68/ share.Poly Medi – Launches QIP to raise up to Rs. 10 bn, issue price at Rs. 1,850-Rs.1,880/ share.Zaggle – Promoter Zuzu Software sell 4 pct stake via block deal.Prudent Corp – Promoter sell 2.48 pct stake via block deals.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.