Markets extended gains on Monday with the Nifty comfortably cementing its positions above 24,000 with the FMCG sector gaining momentum along with broader markets. The Brent crude has surpassed the USD 85 a bbl mark and may pose major risk to emerging markets on move past USD 90 a bbl. For Nifty, the upside target of 24,750 remains a likely outcome in the coming days given sharp weakness seen JPY. The Bank Nifty is also likely to see catchup after recent profit booking for a potential upside towards 54,000.
Nifty 50 Chart
Stocks to watch
Positive Read through
- Hero Moto – Total June sales jumped by 15.2 pct YoY at 0.50 mn units, above Nomura estimates.
- CSB Bank – Q1 Gross advances surged 18 pct YoY, deposits grew 22 pct YoY.
- DCX System – Bags order worth Rs 12.50 bn for electronic nodules from L&T.
- ΚΡΙ Green – Gets Chief Electrical Inspector’s nod for 2 solar power projects.
- CARYSIL – QIP opened yesterday, sets floor price at Rs 837.89/Sh.
- Patanjali Foods – To acquire non-food Business from Ayurved unit For Rs 11 bn.
- IOL Chem – Gets China’s drug regulator nod for Company’s product ‘Fenofibrate’.
- Welspun Specialty – Bags contract worth Rs 1.17 bn for supply of boiler tubes.
- Gandhar Oil – Wins order worth Rs. 3.75 bn or USD 45 mn.
- Coal India – Company’s coal production grew 8 pct to 189.3 mn tons in Q1FY2025.
- APL Apollo – Achieves highest sales volume In Q1FY25 7,21,064 Tons Vs 6,61,501 Tons YoY.
- JSW Energy – Enters into power purchase agreement with SJVN for 700 MW solar project.
- BLS Int – Company’s unit gets Turkish Regulatory Authority’s nod for acquisition of iData.
- Nazara Tech – TIMF Holdings bought 1.2 mn shares in company at Rs. 872 per share.
- Pennar Industries – To set up PEB manufacturing plant in Raebareli in Q2.
Negative Read through
- Tata Motors – Total June domestic sales declined 8 pct, CV sales tumbled 7 pct YoY.
- TVS Motors – Total June sales below estimates, rose by 5 pct YoY at 0.33 mn units.
- NMDC – Total June production declined 3 pct, Iron ore lump and fines price cut by Rs. 500/t.
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