News Shots

Tata group planning to take on Reliance and Amazon; you could soon order ‘everything’ using Tata ‘Super App’

Axis Bank now proposes to buy 17 per cent stake in Max Life Insurance. The original plan was to acquire 19%.

Allcargo Logistics has informed the stock exchange its promoters plan to delist the equity shares of the company. This is to improve credit metrics, improve financing of debt obligations, give operational flexibility, exploring new financial structures and cutting compliance costs.

As per the block deal data on the BSE, 90 lakh scrips of ICICI Bank were sold by Societe Generale at a price of Rs 378.6 per scrip.

Bharti Airtel’s Chairman Sunil Bharti Mittal hinted at an increase in mobile services prices in the next six months, saying that data at low rates is not sustainable for the telecom industry.

Oil and Natural Gas Corporation(ONGC) said its board will meet on September 1 to consider raising funds of up to Rs 45,000 crore.

GMR Infra to consider raising Rs 5,000 crores via issue of securities in tranches.

Suzlon Energy has approved the proposal to issue non-convertible debentures worth Rs 4,453.01 crore under its debt restructuring plan.

LIC Housing Finance reported a 34 per cent jump in its net profit to Rs 817.48 crore for the quarter ending June helped by lower provisioning.

Highways developer IRB Infrastructure Developers reported a consolidated net loss of Rs 30.13 crore for the quarter ended June 30, amid the Covid-19 pandemic. The company had clocked a consolidated profit of Rs 206.62 crore in the corresponding quarter of previous fiscal.

Major Results Announcement Today:

  • Atul Auto
  • Canfin Homes
  • Ircon International

What to expect today?

Yesterday, the market re-assured the bullish momentum by ignoring RBI Governor’s remarks and rallying nearly 100 points. NIFTY tested the resistance at 11,500 and closed just below. The rally was led by banking stocks, just like we discussed yesterday.

There is absolute positivity all around, US Markets have touched all time highs again. Asian markets are also in the green. SGX NIFTY is currently trading at 11,497, indicating a flat to positive opening in the Indian Market.

NIFTY is likely to trade between 11,400 and 11,600 today. There is support at 11,450 and 11,380 and resistance at 11,500 and 11,550.

Highest Call Open Interest at 11,500, followed by 11,600. Highest Put Open Interest at 11,000, followed by 11,400. 

Foreign institutional investors (FIIs) bought shares worth Rs 219.07 crore, whereas domestic institutional investors (DIIs) sold shares worth Rs 335.64 crore.

All our ADR’s (American Depository Receipts) are trading much higher, indicating bullishness. The strong resistance of 11,500 can be broken today, taking NIFTY to higher highs

.Bank and Auto Stocks can continue to do well. IT looks weak.