Markets extended gains on Tuesday to cross the 18850 mark in Nifty while the broader market remained laggard ahead of PM Modi’s U.S. visit. For Nifty, the breakout was activated in Nifty Top 9 stocks index which may help Nifty to surge 700-800 points in the near term while broader market may see further underperformance. We expect major short covering to occur above 18900 for immediate target of 19194.
Nifty 50 chart
Stocks to watch
Positive Read through
- HDFC AMC- SBI Mutual Fund has acquired 3.96 pct stake in Co, raises stake to 6.86 pct from 2.9 pct e
- TCS and the UKs Nest expanded partnership to focus digitally transforming Nests scheme administration services.
- Delhivery- Carlyle is planning to offload about 1.84 crore shares in Co via block deals
- Glenmark Pharma- US FDA has issued a warning letter to the Monroe facility in the US.
- NMDC- LIC offloaded 2.07 pct stake via open market transactions in last around three months.
- LTIMindtree-launched Canvas.ai, an enterprise-ready generative AI platform
- NTPC board members will meet on June 24 to consider issue of NCD worth up to Rs 12,000 crore.
- Sula Vineyards- Quant Mutual Fund has acquired additional 5 lakh shares or 0.59 pct equity stake.
- Kalpataru Projects Board approves fund raising up to Rs 300 crore via NCDs on a private placement basis
- ONGC- Crude prices surge, Brent back above USD 77 a bbl.
- HDFC, HDFC Bank- SEBI relaxes a rule w.r.t warrant listing
- Shriram Finance- FTSE announced weight increase
- HDFC AMC- FTSE announced weight increase
- Zee Entertainment- Punit Goenka says merger should go through whether he is CEO of not
Negative Read through
- Glenmark- USFDA issues warning letter for Monroe, US unit
- All Cargo- May LCL volume down 5 pct, FCL volume slips 11 pct YoY
- Sansera- Client Ebene and CVCIGP II Fund may sell 14 pct at Rs 800-842 a sh.
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