News Shots

Vodafone Idea has continued to rapidly lose ground to stronger rivals — Reliance Jio and Bharti Airtel — with its revenue market share (RMS) plunging to 23.3 per cent in the June quarter, financial data collated by the Telecom Regulatory Authority of India (Trai) showed. Bharti Airtel and Vodafone Idea lost around 47 lakh mobile customers each in May.

Mahindra & Mahindra (M&M) has inked a pact with Tel Aviv-based REE Automotive to explore production of electric commercial vehicles.

HDFC Bank CEO designate Sashidhar Jagdishan has set a target of doubling the bank’s market share in the next five years from the present 7 percent to 8 percent by wresting it away from public sector banks.

ICICI Bank will offload 2% in ICICI Securities to attain 25% public shareholding. This will make ICICI Bank richer by nearly Rs 326 crores.

Oberoi Realty, Godrej Properties, DLF among other realty stocks will be in focus after the Maharashtra government decided to temporarily reduce stamp duty on flats from 5 percent to 2 percent till December 31 and to 3 percent between January 1 and March 31.

Eicher Motors owned Royal Enfield enquiries back to pre-COVID levels, says CEO Vinod Dasari

Satin Creditcare Network has completed raising Rs 120 crore as planned through rights issue of shares even as a prominent investor did not participate in it.

Packaging solutions firm Tetra Pak and Dabur have partnered to launch the FMCG major’s new low calorie juice range in a different packaging format to gain high on-shelf differentiation in the Rs 2500 crore packaged juice market with rivals in ITC and PepsiCo.

Gillette India reported a 1.85 per cent fall in net profit to Rs 44.97 crore for the quarter ended June.

Societe Generale sold 22,19,200 shares of Equitas Holdings at Rs 55.36 per share.

HDFC Mutual Fund lapped up 1,57,337 shares of Ramco Systems at Rs 240 per share. The fund house owned 8.14 per cent stake in the company at the end of June.

The Government to sell 15% stake of Hindustan Aeronautics Ltd at a 10% discounted floor price of Rs 1,001. Bids open on 27 August for Non Retail Investors and 28 August for Retail Investors with 5% discount.

Major Results Announcement Today:

  • IDFC
  • Avanti Feeds
  • Edelweiss Financial Services
  • Hindustan Construction Co,

What to expect today?

Yesterday, NIFTY opened above 11,500 and quickly went down till 11,460 creating panic among participants again. But NIFTY regained heavily in the second half, crossed 11,500 strongly and closed just below 11,550. Click here for a detailed analysis of yesterday’s market and stock movements.

US Markets are mostly up, hitting all time highs. Asian markets are mixed. SGX NIFTY is currently trading at 11,557, indicating a flat to positive opening in the Indian Market.

NIFTY is likely to trade between 11,470 and 11,630 today. There is support at 11,520 and 11,470 and resistance at 11,600.

Highest Call Open Interest at 11,600, followed by 11,500. Highest Put Open Interest at 11,000, followed by 11,500. 

Foreign institutional investors (FIIs) bought shares worth Rs 1,581.31 crore, whereas domestic institutional investors (DIIs) sold shares worth Rs 1,194.62 crore

There is GST Council Meeting today. The market may consolidate in the first half and be volatile in the second half.

Reliance moved nearly 100 points yesterday and should continue to be under watch.

Banks have done exceptionally well in the last few days. Trade in them with a caution for retracement/weakness.