Markets rebounded on Thursday with Nifty regaining above 22,100 with sharp decline in India VIX below 14 mark while midcaps and small caps continued to face selling pressure as they attempted a rebound. We expect flow of funds from midcaps and small caps to divert to Nifty 50 stocks in the coming days and this could turn markets extremely bipolar with bullishness seen in Nifty 50 index while midcap and small cap index may drag another 7% lower.
Nifty Futures Chart
Stocks to watch
Positive Read through
- Ashok Leyland – Creador to invest USD 50 mn for 19.6 pct in Hinduja Tech, WoS.
- NHPC – LoI for 200 MW capacity solar power project worth Rs. 8.47 bn from GUVNL.
- JSW Energy – LoI for 300 MW solar capacity at Khavda RE Park from GUVNL.
- Paytm – Gets approval to participate in UPI as a TPAP.
- NCC – Settles arbitration with staggered payment of Rs. 1.75 bn.
- Yes bank – To be merchant acquiring Bank for existing & new Paytm’s UPI merchants.
- Railtel – Work order of Rs. 1.13 bn from Odisha Computer Application Centre.
- IIFL Finance – Board approves fund raise of up to Rs. 15.00 bn via rights issue.
- Yes Bank – Co looking for new promoter, to sell up to 51 pct sale.
- Shakti Pumps – Gets Rs. 930 mn worth of order from Maharashtra Energy Department Agency.
- Navin Fluorine – To invest additional Rs. 2.50 bn in arm NFASL.
- Crompton Cons – Gets Rs. 1.02 bn worth of order from various State Governments.
- ERIS Life – Expects EBIDTA of Rs. 1 bn, Bullish on Insulin Glargine India market.
- Wipro – Signs agreement with Desjardins to modernize consumer banking services.
- BEL – Company gets orders worth Rs 19.40 bn.
- Tata Tech – Company announces appointment of Sukanya Sadasivan as its chief operating officer.
Negative Read through
- OMCs – Cut diesel & petrol prices by Rs. 2/L, crude at a 5-month high.
- Sundaram Clayton – MD & Chairman sells 7 pct stake at Rs. 1,240/share via block.
- Bombay Burmah – Maha Tax dept conducts search operation at office.
A 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. 1499/-
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.
