Market activity remain cautious ahead of the crucial F&O expiry with Nifty facing hurdle at the psychological barrier of 26,000 while India VIX is seen steady accumulation at lower levels. From a trading perspective, the recent weakness in rupee against GBP and JPYINR may act as a major trigger for global unwinding in Indian stocks with Nifty tolerance at lower levels for reversal currently stands mere 0.65% from current levels.
Nifty 50 Chart
Stocks to watch
Positive Read through
- Mazagon – Commenced production activity for 1st MPV for Navi merchants, Denmark.
- HDFC Life – Board meet on Sept 27 to consider terms for Rs. 20 bn subordinated debt raise.
- MCX – Revises transaction fees for futures & options contracts with effect from Oct 1.
- Tata Elxsi – Delivers worlds 1st RDK-B integration on Qualcomm 5G fixed wireless platform.
- Cartrade – Warburg Pincus unit sells entire 8.6 pct stake via blocks, Mirae Asset MF among buyers.
- Sarda Energy – Gets environmental nod to expand production capacity of Gare Palma block.
- MHRL – Assumes complete management of Club Mahindra Golden Landmark resort in Mysuru.
- Delta Corp – Board approves demerger of hospitality and real estate business.
- Solar Ind – Gets NCLT nod for scheme of amalgamation of Rajasthan explosives with arm.
- PC Jewellers – To consider sub-division/ stock split on September 30.
- Hariom Pipes – Board approves Rs. 7 bn fund raise plan via multiple modes including QIP.
- Muthoot/Manappuram – Gold hits all time high at USD 2645 an OZ and hits all time high.
- Max Estates – Clinches Rs 3.91 bn deal with New York Life Insurance to reshape Delhi-NCR real estate.
- BEL – Signed agreement with Reliasat inc. Canada, to partner in area of space products.
Negative Read through
- Shilpa Medi – Promoters creates pledge 3.42 mn shares (3.49 pct equity).
- Tata Power – Fire in control room of Trombay plant, no casualties, adequate insurance.
- Easy Trip – Promoter to sell up to 8.5 pct stake via block deals, indicative price Rs. 41.5/share.
- Gillette India – Bangladesh distributor terminates agreement from Dec 31 2024.
- KEC Intl – launches QIP to raise up to Rs. 8.70 bn, indicative issue price Rs. 955/share.
- Hindustan Foods – Announced merger of a promoter-owned entity to enhance its manufacturing capabilities in Nashik.
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