Markets ended with marginal gains on Monday with formation of small doji star as Sensex approached towards the resistance line. For the week, the focus remains on the U.S Fed meet scheduled on Wednesday where outlook for interest rate projection for 2024 is expected. Any signs of weakness in Dollar Index may trigger volatility in global markets as Japanese Yen is already showing signs of major appreciation in the near term. For Nifty, the short-term support is seen at 20,700 while hurdle is seen in the range of 21,200-21,300.
Sensex 30 Chart
Stocks to watch
Positive Read through
- Sun Pharma – Offer price to acquire remaining outstanding shares of Taro raised to USD 43/sh.
- Dixon Tech – Arm bags IT hardware manufacturing contract from Lenovo under PLI 2.0 scheme.
- RVNL – JV lowest bidder for construction projects worth Rs 5.43 bn for Indore Metro Rail.
- Aster DM – looking to sell stake in India business, PE firms send non-binding bids.
- Sterling & Wilson – Launches QIP to raise up to Rs. 15 bn.
- Fedbank Fin – Q2 disbursements increased by 27.85 pct, AUM rises by 37.55 pct YoY.
- J&K Bank – Launches QIP to raise up to Rs. 7.50 bn, floor price at Rs. 112.66/sh.
- Spandana – Expects weekly disbursements to increase tο 75-80 pct from 7 pct now by FY28.
- BLS Intl – Bags contract to outsource consular, passport, & visa services by HCI in Canada.
- REC – Enters into EURO 200 mn loan agreement with Germany’s KfW Development Bank.
- LTTS – Signed multiyear engineering service contract with BP.
- Tata Power – Ties up with Indian Oil to set up over 500 EV charging stations.
- Relaxo – Declared Lowest Bidder For 30 Acres Of Land Parcel In Bhiwadi, Rajasthan.
- JTKET – India gets order worth approximately Rs 1827 mn from JTEKT Brasil.
Negative Read through
- Infosys – CFO Nilajan Roy resigns, Jayesh Sangharajka to takeover, ADR down by 2.8 pct.
- Mankind Pharma – According to Sources Capital Group and Chrys Cap to sell 6.90 pct via block.
- Spice Jet – Meeting to consider Q2 results & raising fresh funds has been adjourned to December 12, 2023.
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