News Shots

  • Yes Bank to raise up to Rs 15,000 crores via an FPO – Follow on Public Offer (FPO is a process by which a company, which is already listed on an exchange, issues new shares to the investors or the existing shareholders, usually the promoters.)
  • Jio Platforms has raised another Rs 43,574 crore from Facebook-owned Jaadhu Holdings, LLC for 9.99 per cent stake in the company, Reliance Industries
  • Unichem Laboratories has received approval from the US health regulator to market its Cyclobenzaprine Hydrochloride tablets used for relief of muscle spasm in the American market.
  • Sunpharma’s arm Taro Pharma gets US FDA nod for Butalbital(a sedative that helps to decrease anxiety), Acetaminophen(decreases pain from a headache) and Caffeine capsules.
  • Tata Consumer Products Ltd, formed recently by the merger of Tata Global Beverages and the foods business of Tata Chemicals, is aiming to be a full-fledged FMCG company, its chairman N Chandrasekaran announced. (This is HUGE)
  • Tata Motors-owned Jaguar Land Rover (JLR) has started deliveries of BS-VI compliant petrol derivatives of new Range Rover Evoque and new Discovery Sport in India.
  • ICICI Bank has decided to reward over 80,000 of its frontline employees with a salary hike of up to 8 per cent, in recognition of the services rendered during the COVID-19 pandemic.
  • Titan reported that it has reopened 83 per cent of its stores across all businesses as at the end of June
  • US Private Equity Firm Apollo in talks for capital infusion into Indiabulls Housing.
  • Porinju Veliyath-owned Equity Intelligence India cuts stake in Shalimar Paints to 1.66% in the June quarter against 1.84% in March quarter. 

What to expect today?

  • Yesterday, there was profit booking initially by DIIs but the market recovered and closed higher, near to 10,800. The recovery indicates the strength of positivity in the market. But today can be a volatile day.
  • US markets closed mostly in the red. The Asian markets are mixed. SGX NIFTY is currently trading higher at 10,804, indicating a slight gap up opening in the Indian Market. 
  • NIFTY is likely to trade between 10,700 and 10,900 today. If today is not volatile, that will strongly indicate that stability has returned to the market. There is support at 10,700 and 10,650, and resistance at 10,850 and 10,890. 
  • Highest Call Open Interest at 11,000, followed by 10,500. Highest Put Open Interest at 10,500, followed by 10,300. ‘
  • FIIs ended as net buyers while DIIs sold.
  • Yesterday’s rally happened even without the support of Reliance and ITC, which indicates strength in the market. These could be watched. As I mentioned on Telegram yesterday, IT stocks have been moving wildly in the last few sessions. They can also be watched. TCS is about to announce its Q1 results.