Markets activity last week remained range bound with final closing occurring with losses of less than 1% as Nifty failed to cross its all-time high. The weakness was seen mainly on the back of selling in financials and rout from Adani Group stocks which fell after the U.S. SEC began an inquiry into its financial statements. The larger picture for Nifty points out to an ultimate target of 19700 and we expect the coming week to gain strength on the move past 18800 in Nifty futures.
Nifty 50 Chart
Stocks to watch
Positive Read Through
- TCS said that the media report on the purported recruitment scam is incorrect.
- Godrej Properties- acquires 15 acres in Gurugram, Haryana for a residential project
- Yes, Bank- Board approves raising Rs 2,500 crore through the issue of debt securities.
- Rail Vikas Nigam- bagged Rs 394.89 crore project from Maharashtra Rail Corp to design and construct an elevated metro viaduct.
- Zydus Lifesciences- subsidiary to acquire a 6.5 pct stake in Mylab Discovery Solutions
- Infosys partners with Danske Bank in a deal worth USD 454 mn to help the digital transformation of the bank, to acquire Danske Bank’s IT center in India
- Apollo Tyres- reiterates FY26 revenue target of USD 5 bn and margin of over 15 pct
- AU SFB- to consider raising funds via equity or debt on June 29
- ICICI Securities- to consider delisting of shares in June 29 board meeting
- Landmark Cars- 3P India Equity, Abakkus, Societe Generale buyers in a block deal
- Chalet Hotels- to consider fundraising in July 3 Board meeting
- Ajanta Pharma- USFDA issues no observation for Dahej formulation unit
- Zen Tech, Paras- DGFT simplifies policy for export of drones, UAVs
Negative Read Through
- HDFC Life Insurance received a GST demand notice for Rs 942 crore.
- Ipca Lab- The US FDA has issued Form 483 with 8 observations for its Pithampur formulations mfg facility in Madhya Pradesh.
- Aurobindo- arm withdraws marketing authorization application for 2 biosimilars
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