Markets on Wednesday managed to take support near 61.8% Fibonacci Retracement and thereafter ended in mildly positive terrain. The sustained fall in India VIX indicate major accumulation in Nifty 50 stocks and we expect major rally in the coming days with lead expected from Nifty Bank. The U.S Federal Reserve left interest rates unchanged. The Fed sees three rate cuts in 2024 but a shallower easing path. Markets are expected to take this positively.
Nifty Futures Chart
Stocks To Watch
Positive Read Through
- TVS Motor – To issue 4 NCRPS worth Rs. 19 bn via bonus for every 1 share held.
- JSW Infra – Total cargo handled on consolidated basis has crossed 100 MT.
- RVNL – Emerges as lowest bidder for a project worth Rs. 1.67 bn.
- PB Fintech – To incorporate arm ‘PB Pay Private’ for payment aggregator business.
- Wockhardt – Likely to raise up to Rs. 5.70 bn via QIP, issue price seen at Rs. 517/share.
- Hinduja – To monetize optical fiber assets for Rs. 2.08 bn, optimise costs.
- Crompton Cons – Bags 4th order for solar water pumping system from Hareda.
- Sasken Tech – Board approves acquisition of 60 pct in Anup Silicon for Rs. 385 mn.
- Prince Pipes – To acquire bathware brand aquel & plant for Rs. 550 mn.
- Aarti Drugs – GPCB permanently revokes closure order of Sarigam plant, Gujarat.
- ASM Tech – Board approves fund raise of up to Rs. 1.70 bn via pref issue.
- Jupiter Wagons – Acquires Bonatrans India, becomes First Indian Rolling Stock Manufacturer with Own Wheel Plant.
- Wipro – Company appoints Anne-Marie Rowland as CEO of Capco effective April 1.
Negative Read Through
- Polycab – IT infrastructure targeted by ransomware attack.
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