Market Morning Notes For 19th Dec 2023
Markets witnessed profit booking at higher levels but Sensex continues to trade firmly above its key reversal levels of 70,400 while India VIX shoots closer to the 14 mark. The rise in India VIX which has seen a sustainable upmove beyond 14 levels indicate that the market is prone to a sharp reversal. Compared to Sensex, Nifty Bank levels are trading closer to reversal. A close below 47,810...
Muthoot Microfin Limited (Subscribe)
Highlights Issue Size –: 32,989,690 sharesIssue Open/Close – 18 Dec / 20 Dec, 2023Price Band (Rs.) 277 – 291Issue Size (Rs.) – 9,600 mnFace Value (Rs) 10Lot Size (shares) 51 Muthoot Microfin Limited (MML) is a part of Muthoot Pappachan Group, a business conglomerate with presence across financial services, automotive, hospitality, real estate, information technology infrastructure,...
Suraj Estate Developers Ltd. (Subscribe)
Highlights Issue Size –: 11,111,111 sharesIssue Open/Close – 18 Dec / 20 Dec, 2023Price Band (Rs.) 340 – 360Issue Size (Rs.) – 4,000 mnFace Value (Rs) 5Lot Size (shares) 41 Suraj Estate Developers Limited (SEDL) incorporated in 1986 at Mumbai, is engaged in the real estate business and develops real estate across the residential and commercial sectors in South Central Mumbai region....
Market Morning Notes For 18th Dec 2023
Markets for the week extended gains for seventh straight week which forced Sensex to cross weekly resistance line of rising wedge placed at 70,400 on back of gains mainly from technology Index. The short covering by FIIs on weekly call options further amplified upmove in Nifty 50 index forcing them to delta neutral cash based buying worth Rs 9,000 crore. At the current juncture, the major...
Market Morning Notes For 15th Dec 2023
Markets surged on back of highly dovish stance by US Fed that helped Nifty to surge beyond 1% while Nifty service sector which has mainly technology and financial stocks rallied by more than 1.5%. At present, the expectations have been priced in of a 160-bps rate cut in 2024 which has led to US Dollar weakening against developed currencies and put a unwinding risk from carry trade. The spike...
Inox India Limited (Subscribe)
Highlights Issue Size –: 22,110,955 sharesIssue Open/Close – 14 Dec / 18 Dec, 2023Price Band (Rs.) 627 – 660Issue Size (Rs.) – 14,593 mnFace Value (Rs) 2Lot Size (shares) 22 Inox Group company, Inox India Limited (INOXCVA) was incorporated in 1976 is the largest supplier of the cryogenic equipment in India by revenue in FY23 and the first Indian company to manufacture a trailer mounted...
Market Morning Notes For 14th Dec 2023
Markets ended on a flat note after initial lower opening to close on marginal positive note ahead of U.S Fed monetary policy. With Fed turning dovish and expectation of at least three rate cut in 2024, Dollar Index has seen major slide. For Indian markets major risk comes from Japanese Yen appreciation with JPYINR already crossing above 58.80 in the early opening hour. For Nifty, inspite of...
Tax Declaration Guide For Salaried Employees
Navigating income tax and declarations can be complex. In this blog, Fintoo – your partner in optimizing fiscal decisions – has simplified Income Tax Declaration (ITD); from understanding Form 12BB to strategic tax savings. Read on to discover how to make tax planning savvy and rewarding! Essential Guide to Income Tax Declaration – ITD An income Tax Declaration (ITD) is a crucial...
Market Morning Notes For 13th Dec 2023
Markets succumbed to selling pressure on Tuesday after inability to sustain above the psychological barrier of 70,000 in Sensex and was followed with negative closing of around 0.5%. The long-term charts clearly depicts completion of rising wedge on long term basis and we expect signs of initial weakness to prevail on close below 69,200 which turns out to be support of Regression Channel of...