Markets rebounded from lows to end in the positive terrain led by gains from Nifty Bank while broader markets continued to remain under pressure. Midcap and Small cap index ended in the red. The global markets are currently anticipating 50 bps cut in rates in the upcoming Fed policy scheduled next week and in case of 25 bps cut, markets could see trigger kneejerk reaction. Meanwhile, for the Indian markets the risk remains elevated due to formation of expanding triangle and a move below 25,000 has opened gates for a significant downside in the near term.
Nifty50 Chart
Stocks to watch
Positive Read through
- Hero Moto – Ather energy files DRPH for IPO, fresh issue Rs. 31 bn.
- Tata Power – commences production of solar cells at manufacturing plant in Tirunelveli, Tamil Nadu.
- GMR Airports – to acquire 10 pct stake in Delhi international airport for $126 mn.
- Bikaji, Gopal Snacks – GST on extruded namkeen snacks cut to 12% from 18%.
- Ireda – Signs mou with SJVN & GMR for 900 mw hydropower project in Nepal.
- IRB Infra – August gross toll collection up 20.5 pct at Rs. 5026 mn vs Rs. 4172 mn.
- Ahluwalia- Bags two orders worth 13.07 bn for group housing projects.
- Dixon Tech – Arm in mou with HP India to manufacture notebooks, desktops, PCs.
- Ace – Bags order from defence ministry for supply of 99 forklifts.
- Easy Trip – To consider multiple acquisitions on september 13 bd meet.
- Hg Infra – Gets loa for a ham project worth Rs. 7.81 bn from road transport min.
- Zaggle – Entered into an agreement with HDFC ergo for its reward platform.
- Lemon Tree – Signs a new property in Nashik, expected to open in FY26.
Negative Read through
- Adani Group – Kenyan court grounds proposal to invest in biggest airport.
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