Market Morning Notes For 25th September 2024
Market activity remain cautious ahead of the crucial F&O expiry with Nifty facing hurdle at the psychological barrier of 26,000 while India VIX is seen steady accumulation at lower levels. From a trading perspective, the recent weakness in rupee against GBP and JPYINR may act as a major trigger for global unwinding in Indian stocks with Nifty tolerance at lower levels for reversal currently stands mere 0.65% from current levels.Nifty 50 Chart Stocks to watchPositive Read throughMazagon – Commenced production activity for 1st MPV for Navi merchants, Denmark.HDFC Life – Board meet on Sept 27 to consider terms for Rs. 20 bn subordinated debt raise.MCX – Revises transaction fees for futures & options contracts with effect from Oct 1.Tata Elxsi – Delivers worlds 1st RDK-B integration on Qualcomm 5G fixed wireless platform.Cartrade – Warburg Pincus unit sells entire 8.6 pct stake via blocks, Mirae Asset MF among buyers.Sarda Energy – Gets environmental nod to expand production capacity of Gare Palma block.MHRL – Assumes complete management of Club Mahindra Golden Landmark resort in Mysuru.Delta Corp – Board approves demerger of hospitality and real estate business.Solar Ind – Gets NCLT nod for scheme of amalgamation of Rajasthan explosives with arm.PC Jewellers – To consider sub-division/ stock split on September 30.Hariom Pipes – Board approves Rs. 7 bn fund raise plan via multiple modes including QIP.Muthoot/Manappuram – Gold hits all time high at USD 2645 an OZ and hits all time high.Max Estates – Clinches Rs 3.91 bn deal with New York Life Insurance to reshape Delhi-NCR real estate.BEL – Signed agreement with Reliasat inc. Canada, to partner in area of space products.Negative Read throughShilpa Medi – Promoters creates pledge 3.42 mn shares (3.49 pct equity).Tata Power – Fire in control room of Trombay plant, no casualties, adequate insurance.Easy Trip – Promoter to sell up to 8.5 pct stake via block deals, indicative price Rs. 41.5/share.Gillette India – Bangladesh distributor terminates agreement from Dec 31 2024.KEC Intl – launches QIP to raise up to Rs. 8.70 bn, indicative issue price Rs. 955/share.Hindustan Foods – Announced merger of a promoter-owned entity to enhance its manufacturing capabilities in Nashik.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.
