Markets ended green on Thursday, resulted in a 6th straight day of gains for the Nifty . However, a divergence on the momentum indicator suggests that caution is needed. The Nifty ETF has been portraying elevated risk as a move below 25 ,800 would be confirming completion of rising wedge setup, thus opening for downside potential of 11%.
The upside momentum may be coming towards an end as Mutual Funds are forced to deploy excess liquidity in the Sept. quarter end in large cap stocks. Overall view remains cautious.
Nifty50 Chart
Stocks to watch
Positive Read through
- IT Services – Accenture FY25 revenue growth guidance at 3-6 pct.
- Rites – Consortium emerges as lowest bidder for Delhi Metro Proj worth of Rs. 875 mn.
- NTPC – Arm inks JV with Mahatma Phule to develop 10 GW of renewable energy project.
- Railtel – Bags work order worth Rs. 1.55 bn from Rural Development department, Maharashtra.
- BASF – To explore overall strategic options globally for value creation in coatings business.
- Biocon – Partners Tabuk Pharma to commercialise GLP-1 products in Middle East.
- Prataap Snacks – Authum Investment & Mahi Kela to acquire 46.9 pct stake for Rs. 8.46 bn.
- Piramal Ent – Arm sells Mumbai property for Rs. 1.87 bn.
- Thangamayil – Board approves fund raise of Rs. 6 bn via rights issue.
- Infosys – Company announces strategic collaboration with Sally Beauty.
- Krsnaa Diagnostics – Got LoI to commission radiology services.
- Adani Green – Company and Total Energies finalise USD 444 mn JV for Gujarat solar projects.
- Shivalik Bimetal – Targeting 30 pct market share in North America, Western Europe.
- Akme Fintrade – Company partners with Mas financial services for Co-lending in MSME sector.
- Lemon Tree – Announced a new hotel in Sasan Gir, Gujarat, expected to open in FY 2026.
Negative Read through
- Torrent Pharma – Refutes claims of Shelcal 500 failing quality tests.
- Five Star – PE investors sell 12 pct stake via blocks, Nomura funds, Max Life among buyers.
- Nuvama Wealth – Edelweiss Fin & Ecap Equities to sell 6.4 pct stake via blocks, floor price Rs. 6,445/sh.
- Gulf Oil – Promoter sells 4.2 pct stake via blocks, ITI MF, AB Sun Life among buyers.
- Union Bank – 7 pct of employees to go on strike on Sept 27, may disrupt services.
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