Markets ended lower after Nifty failed to sustain above 18,900 and led to the formation of dark cloud cover on a daily candlestick chart. The short-term breakout in Nifty is seen above 18,669 and as long it holds above the same, there is a strong possibility of the current rally extending towards 19,200.
On the global front, Fed Chair Jerome Powell will give his semi-annual report to Congress on Wednesday. Federal Reserve Bank of St. Louis President James Bullard and his counterparts in New York and Chicago are also among this week’s speakers. In geo-political news, China refused to entertain Washington’s bid to resume military-to-military communication channels, citing U.S. sanctions as the obstacle.
Nifty 50
Stocks to watch
Positive Read through
- IndiGo orders 500 Airbus A320 family aircraft worth USD 50 bn in largest-ever deal.
- Genus Power, HPL Power-BSES will award contract 5mn smart meters by July, with a Contract value of Rs 5k-6kcr.
- HDFC Ltd sells 90 pct stake in HDFC Credila to Barring PE and ChrysCapital for Rs 9000 cr.
- Sun Pharma- Canada Regulator nod for specialty drug Winlevi.
- Coforge- aims to double revenue in 5 years, reiterates FY24 revenue, margin guidance
- Can Fin Homes- Board approves fundraising upto Rs 5000 cr
- Bharat Agri- Thane residential project gets TMC nod, revenue potential at Rs 700-800 cr
- ITI- Tripartite MoU with TCIL and CDOT to synergies R&D initiatives in telecom
Negative Read through
- RVNL issue with Russian JV raises concern w.r.t Vande Bharat train- negative read-thru for BHEL and TWL.
- HDFC AMC- Reports say Abrdn to sell its entire 10 pct stakes, offer price at Rs 1800-1892 a sh
- Zee Entertainment- Securities Appellate Tribunal adjourns hearing till June 26
- RVNL- Reports say JV with Russia’s CJSC TMH for Vande Bharat order has broken down
- Timken- Reports say Parent Co to sell 8.3 pct via block deal, floor price at Rs 3000 a sh
- IIFL Securities- SEBI prohibits Co from taking in new clients for the next 2 years
- Aether Inds- to raise upto Rs 750 cr via QIP, issue price at Rs 936 a sh according to reports
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