Nifty index settled yet another session at new record highs i.e. 22097 levels yesterday while mid cap index traded in line with benchmark, up 0.7%, whereas Small-cap index underperformed the benchmark, ended with a gains of 0.42%. The Sensex on weekly chart has formed hanging man which signifies trend reversal provided current weekly closing occurs with a cut of 2% or more. On the upside, we expect momentum to accelerate on a move above 72,800, as breach of rising resistance line will open further upside scope towards 74,000 in Sensex.
Results Today – HDFC Bank, ICICI Lombard, Federal Bank, LTTS
Stocks to watch
Positive Read through
- Bank of Baroda will issue long-term infrastructure bonds worth Rs 5,000 crore in the second tranche.
- Hind Copper/NALCO: India’s KABIL & Argentina’s CAMYEN SE sign agreement for exploration & mining of Lithium.
- Patanjali Foods Q3 business update- food and FMCG segments are for 32 pct of total revenues, branded sales continued to contribute 75 pct.
- BLS International arm, signed a definitive agreement to acquire a 100 pct stake in iDATA, a Turkey-based visa and consular services provider.
- RVNL emerges as the lowest bidder for Rs 251 crore power transmission project in Madhya Pradesh.
- InterGlobe Aviation- local passenger market share remained at 61.8 pct in November.
- Vedanta- S&P upgrades Vedanta Resources after the recent debt restructuring
- Pidilite forms partnership with Italy-based Syn-Bios, known for R&D and global marketing in the leather tanning industry.
- HPL Electric: Company gets Rs 240 crore order for smart meters from AMISP clients.
- PNC Infratech: Company to sell 12 road assets to Highways Infrastructure Trust for Rs 9,005.7 crore.
- Oil Upstream stocks: India cuts Windfall Tax on Crude Oil.
Negative Read through
- Housing Finance Company: RBI proposes tighter norms for accepting public deposits by housing finance companies.
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning at Rs. 1499/-
Disclaimer: The views shared in blogs are based on personal opinions and do not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the investor’s sole decision, and the company or its communication cannot be held responsible for it.
