Markets witnessed low volatility on Tuesday with Nifty turning range bound but managed to put modest gains to close around 22,200. It opened on a negative note followed by choppy moves towards ending on a subdued note. In Nifty future, the breakout levels are revised to 22,300 from earlier 22,250 to force Nifty to scale towards 23,300. Bullish momentum is likely to continue as long as the thick support zone placed around Nifty 21800 remains intact.
Nifty Futures Chart
Stocks to watch
Positive Read through
- Bharti Airtel – To turn into a digital entity, plan to exit non-core business.
- Vedanta – FY25/27 EBITDA target USD 6/7.5 bn, expect demerger completion by Dec 2024.
- ICICI Lombard – ICICI Bank acquires 1.65 pct equity via block.
- Axis Bank – Gets RBI nod to appoint Munish Sharda as ED for 3 yrs with effect from Feb 27.
- Hind Zinc – Incorporates subsidiary to explore, discover, develop & tap mineral resources.
- Voda Idea – To raise Rs. 200 bn via equity, Rs. 250 bn via debt, promoters to participate.
- Indus Towers – Voda Idea to raise up to Rs. 450 bn via equity, and debt.
- Torrent Power – Gets LoI from PFC Consulting for the first project under the TBCB framework.
- CMS Info – Sion Invst sells entire stake via block, Societe Generale amongst buyers.
- GE T&D – Company bags order worth Rs 3.70 bn from Power Grid.
- HCL Tech – Sees surge in private 5G adoption across manufacturing and Greenfield sectors.
- Godrej Ind – Godrej Appliances anticipates its premium segment to increase sales turnover by as much as 20 pct in FY25.
- JSW Energy – Secured a Letter of Award from SJVN Ltd for a solar capacity project of 700 MW.
- Tata Elxsi – Company and Telefónica have implemented a cloud-native infrastructure management system powered by ETSI Open.
- TIPS Ind – Board to meet to consider Buy Back of Shares.
Negative Read through
- Capital SFB – Asset quality deteriorates, gross NPA increased by 6 pct, deposit rise 6.9 pct QoQ.
- All Cargo – Jan LCL volume declined by 3 pct, FCL volume up by 10 pct YoY.
- Patanjali – SC served a contempt notice to Patanjali Ayurved for issuing misleading advertisements.
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