Market activity remained laggard with midcap and small cap indices end in losses while Nifty cooled off from day’s high to close above 25,300. For Nifty, 23,965 remains a key support below which, aggressive shorting is expected to be activated. In the last two months, FIIs have added more than Rs 250000 crore worth options indicating that they already are positioned for a volatility expansion.
Nifty 50 Chart
Stocks to watch
Positive Read through
- Bajaj Fin – Bajaj Housing Finance IPO priced at Rs. 66-70/share, implied Mcap Rs. 580 bn.
- IEX – Arm enters into an agreement to become local issuer of renewable energy certificates.
- Vedanta – Board approves 3rd interim dividend for Rs. 20/share for FY25.
- HAL – Cabinet approves procurement of 240 AL-31FP Aero-engines for Rs. 260 bn.
- Gensol Engg – JV lowest bidder for a biomass to green hydrogen projects, worth Rs. 1.64 bn.
- Muthoot Fin – Arm Belstar Microfinance gets regulator SEBI’s nod to launch its IPO.
- GR Infra – Sets to divest entire stake in arm GAKHP to Bharat Highways InvIT.
- Medi Assist – Promoter group to sell stake worth Rs. 5.41 bn via blocks, floor price Rs. 570/share.
- Brainbees Soln – Raises stake from 51 pct to 74 pct in two arms for a total of Rs. 1.06 bn.
- Kaynes Tech – Cabinet nod to setup semiconductor unit in Gujarat, investment at Rs. 33 bn.
- Adani Green – Total Energies to invest USD 444 mn to form a 50:50 JV with the company.
- Sammaan Cap – Issues offer for pre-mature redemption of its NCDs maturing till Dec 31, 2024.
- Lemon Tree – Signs license agreement for an 80-room hotel in Gir, Gujarat.
- Welspun Corp – To invest USD 100 mn to upgrade welding pipes manufacturing capability in the US.
- Matrimony – To consider share buyback in September 5 board meet.
- Brigade Ent – Launches QIP to raise up to Rs. 15 bn, issue price Rs. 1,150/sh.
Negative Read through
- NMDC – August production declined 10 pct, collector Dantewada proposes penalty of Rs. 16.20 bn.
- Moil – Cuts prices of ferro grade manganese ores with manganese content of mn-44 pct and above by 20 pct.
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. 2499/-
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.
