News Shots

Promoter Tata Sons raises stake in Tata Power to 45.21% in September quarter Vs 35.21% in June

Tata Motors has collaborated with HDFC Bank for financing of its passenger vehicles. Through the partnership, the company has introduced two new schemes — ’Gradual Step Up Scheme’ and ’TML Flexi Drive Scheme’ with an eye on making its products more accessible and driving up sales in the festive season.

RBI imposes Rs 4.5 crores fine on IndusInd Bank for non compliance with its directions.

HDFC Bank Q2 Results – Net profits up 18% YoY to Rs 7,510 crores, meets analysts estimates. NPA has decreased, Net Interest Income (NII) has increased.

Avenue Supermart (DMART) Q2 net profit declines 38% to Rs 198 crores.

Kalrock Capital and Murali Lal Jalan have become the new owners of Jet Airways and have plans of reviving the air carrier.

DLF’s rental arm DCCDL has raised Rs 2,400 crore debt from India’s largest lender SBI to refinance its existing debt and fund future expansion plans.

Shoppers Stop announced the appointment of Trent’s Venugopal G Nair as its Managing Director & Chief Executive Officer.

Dr Reddy’s Laboratories along with Russian Direct Investment Fund (RDIF) has received approval from the Drug Control General of India (DCGI) to conduct phase 2/3 human clinical trials for COVID-19 vaccine Sputnik V in India.

Zydus Cadila has received approval from the US health regulator to market Ursodiol capsules, used to treat primary biliary cirrhosis, in America.

Kotak Mahindra Bank reduced its interest rate on home loans to 7 per cent, at par with market leader SBI’s offering.

Tata Communications posted an around seven-fold jump in consolidated net profit at Rs 384.81 crore for the September quarter. (A cue for long term investors to look into this company)

Multiplex operators expect up to 25 per cent rise in their operating costs on account of the mandatory standard operating procedures as they reopen after being shut since the outbreak of coronavirus pandemic.

Some Major Q2 Results Announcements Today:

  • HDFC Life Insurance Company
  • Britannia Industries
  • ACC
  • L&T Technologies
  • Bank of Maharashtra
  • Rallis India
  • CSB Bank

What to expect today?

Last week we saw NIFTY taking resistance at 12,000 and then falling down till 11,660. This week will most probably be consolidation. 12,000 will be regained sooner or later. Click here for a detailed analysis of Friday’s market and stock movements. 

Bank Nifty is consolidating between 23,000 and 24,000. This range can be watched keenly for the coming days.

If NIFTY moves down, 11,550-11,600 is a good support. If that is broken, we can see a larger correction in the market.

How the market will react to HDFC Bank’s result will decide the market’s momentum for the coming days. That is the most important thing to watch out for today.

Global cues are getting better. A major update regarding the US economic stimulus is expected this week.

US Markets have closed higher. Europe is also green. Asian markets are mostly up. Dow Futures are also trading nearly 0.5% up. SGX NIFTY is trading at 11,831, which is 59 points higher, indicating a gap up opening in the Indian Market.

NIFTY is likely to trade between 11,750 and 11,900. There is support at 11,780 and 11,750 and resistance at 11,830 and 11,870.

Highest Call Open Interest at 12,000, followed by 12,200. Highest Put Open Interest at 11,000, followed by 11,500. 

Foreign institutional investors (FIIs) net sold shares worth Rs 479.59 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 429.81 crore in the Indian equity market

The 60 points jump in SGX NIfty might point to the market reacting positively to HDFC Bank’s result. If HDFC Bank moves up, other banking stocks will also move up. In that case, NIFTY can also give a good, trending movement today.

A fresh week is starting. Focus on discipline. All the best for the day!