Markets erased opening losses to close at the highest point of the day with Nifty in USD terms reconfirming a breakout for the second consecutive trading session. Going forward, we expect buying momentum to accelerate further with an immediate target for the week placed at 17,870 and 19,500 thereafter.
Nifty 50 in USD terms
Stocks to watch
Positive Read through
- Alembic Pharmaceuticals gets USFDA nod for hypertension drug.
- GAIL India issues swap tender for LNG cargo according to reports.
- Bharat Forge announces its E-bike mfg facility at MIDC Chakan, Pune, through its subsidiary Kalyani Powertrain.
- Kirloskar Oil Engines- Ten investors have picked up a 13.65 pct stake through the open market at around Rs 322 worth Rs 636 crore.
- Jindal Stainless- iShares Core MSCI Emerging Markets ETF has picked up 33.69 lakh equity shares at Rs 309.42 worth Rs 104.3 crore.
- Shoppers Stop- Singapore firm, Shiseido Asia Pacific has a partnership agreement with a subsidiary of Shoppers Stop, to expand its brand footprint in India.
- SeQuent Scientific has terminated the share purchase agreement to acquire a stake in Tineta Pharma.
- Adani Enterprise- GCQ Partners might increase their stake.
Negative Read through
- Data Patterns- QIP issue opens today. Issue price at Rs 1284 a sh.
- Adani Transmission- Promoter creates pledge on 0.76% equity in favor of SBICap Trustee.
- Adani Green- Promoter creates pledge on 0.99% equity in favor of SBICap Trustee.
- Gokaldas Exports- Promoter Clear Wealth Consultancy to sell 8.25% stake via a block deal.
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