Markets advanced for the fourth straight day with Nifty June derivatives expiry occurring above the 24,000 mark while Bank Nifty ended in marginal negative terrain. The buying momentum in Nifty will likely accelerate towards 24,750 due to three white soldiers, but we expect selling pressure in midcap and smallcap to resume.
Nifty 50 Chart
Stocks To Watch
Positive Read through
- Reliance – Reliance Jio hikes tariffs in the range of 12-25 pct
- HCL Tech – Block deal of 0.46 pct equity worth Rs. 17.57 bn, as per report
- BBEL – Bags Rs. 133 bn in order to set up a thermal power project in Jharkhand
- JSW Infra-Arm to acquire majority 70.37 pct stake in Navkar Corp
- GMR Power – Arm receives settlement claims of Rs. 8.50 bn as first tranche from NHAI
- Brigade Ent – Launches residential projects in Yelahanka, Bengaluru, sales potential Rs. 11 bn
- RBL Bank – Board approves fundraising of up to Rs. 35 bn via QIP
- AU SFB – To raise to Rs. 50 bn via QIP
- Start Health – Confident in increasing premium approx. 2x, profit 3x over FY24-FY28
- Raymond – Shareholders approve the reappointment of Gautam Singhania as MD
- Samhi Hotels – GTI Capital Alpha to sell up to 5 pct equity, floor price Rs. 187.05/share
- Wockhardt – To hold a press conference at 12.30 pm today on WCK5222 drug.
- INFOSYS – In a pact with QORUS to recognize banking innovation initiatives worldwide
- Bajaj Auto – Starts production at 1st overseas manufacturing plant in Brazil.
- Bharti Airtel – Nxtra has joined the RE100 initiative led by Climate Group in partnership with CDP.
Negative Read through
- Navkar – JSW Infra arm to acquire 70.37 pct stake from Navkar promoter at Rs. 95.61/share
- Polycab – Promoter to sell up to 2.04 pct stake via block, offer price 6.5 pct discountF to CMP.
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