Nifty has achieved a record by closing in the green for 13 consecutive trading sessions, but history suggests potential short-term corrections. Previous similar winning streaks have often been followed by negative returns. Analysts recommend a cautious approach, with attention to profit booking and market support levels at 25,200 and 25,000.
Prime Minister Narendra Modi is visiting Brunei and Singapore to strengthen bilateral relations. The Congress has criticised him, questioning why he hasn't visited Manipur, which is facing ethnic violence and displacement. Congress leader Jairam Ramesh highlighted the ongoing tensions and the lack of attention from both the Prime Minister and the Manipur Chief Minister.
Junior doctors from various Kolkata medical colleges marched to police headquarters demanding the police commissioner's resignation over the handling of a trainee doctor's alleged rape-murder case. Stopped at BB Ganguly Street, they placed symbolic items and vowed to continue their protest until meeting the commissioner.
Brigade Enterprises, headquartered in Bengaluru, has initiated a Qualified Institutional Placement (QIP) issue to raise up to Rs 1,500 crore for business expansion. The floor price per share is set at Rs 1,164.70. This follows a strong quarterly financial performance, with net profit more than doubling to Rs 83.72 crore this June quarter.
The highest concentration of put open interest is at the 1,440 and 1,400 strike prices, suggesting these levels could serve as immediate support. Conversely, the highest call open interest is at the 1500 strike, indicating potential resistance.
After a 13-day winning streak, Sensex and Nifty were flat on Tuesday morning due to lack of major triggers. Defence stocks such as HAL and GRSE rallied 3-5% following a Rs 26,000 crore deal for Sukhoi-30MKI fighter jet engines approval. Pharma and real estate stocks traded higher, while IT stocks fell.
PNB Housing Finance Ltd. key Products/Revenue Segments include Interest, Fees & Commission Income, Income From Sale Of Share & Securities for the year ending 31-Mar-2024.
The Mamata Banerjee government will introduce the anti-rape bill in the West Bengal Assembly, seeking capital punishment for rapists if the victim dies or is left in a vegetative state. The bill also proposes life sentences without parole for rape and gangrape. This move follows a recent tragedy at RG Kar Medical College.
Daikin Industries Ltd., the world's largest air conditioner manufacturer, plans to expand in India due to increasing demand. The company aims to build a new plant near its existing factory in southern India. Daikin targets to double its sales in India by 2025 and increase production for global exports by 2026.
Placements at IIT-Bombay for 2024 concluded with an average annual package of Rs 23.5 lakh. Despite the increase, some packages were as low as Rs 4 lakh. Fewer students were placed compared to the previous year. Many found jobs in engineering, technology, and finance sectors.
Gujarat Gas Ltd. key Products/Revenue Segments include Gas Natural and Other Operating Revenue for the year ending 31-Mar-2023.
For the quarter ended 30-06-2024, the company reported a Standalone Total Income of Rs 741.98 Crore, down -3.92 % from last quarter Total Income of Rs 772.21 Crore and up 8.62 % from last year same quarter Total Income of Rs 683.10 Crore.
Naturewings Holidays' SME IPO opens today, seeking to raise Rs 7 crore via a fresh equity issue. The company offers shares at Rs 74 each, with a premium of 60% in the grey market. The subscription period ends on September 5, with shares expected to list on September 10.
Grasim Industries Ltd., incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 183122.43 Crore) operating in Diversified sector.
The Indian market is expected to consolidate on Tuesday following mixed global cues. The Nifty futures closed with minor losses, and volatility increased. Analysts suggest a trading range between 24,900 to 25,800 levels for the Nifty index. Several stocks are recommended for short-term trading with specific targets and stop losses.
LG Balakrishnan & Bros Ltd., incorporated in the year 1956, is a Small Cap company (having a market cap of Rs 4711.06 Crore) operating in Auto Ancillaries sector.
Bajaj Housing Finance, supported by Bajaj Finance and Bajaj Finserv, is set to launch a Rs 6,560 crore IPO on September 9 with a price band of Rs 66-70. The offer comprises a fresh issue of Rs 3,560 crore and an offer for sale of Rs 3,000 crore. The issue closes for bids on September 11.
Patanjali Foods Ltd., incorporated in the year 1986, is a Small Cap company (having a market cap of Rs 71293.08 Crore) operating in FMCG sector.
Eicher Motors Ltd., incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 134592.59 Crore) operating in Auto sector.
Cathay Pacific Airways is inspecting all 48 of its Airbus A350 jets after an engine component failure in a Rolls-Royce engine on a flight from Hong Kong to Zurich. The plane landed safely back in Hong Kong. The airline has canceled multiple flights and is also examining its A350-900 aircraft as a precaution.
The closing prices of four stocks crossed above their 200-day moving averages (DMAs) on September 2
In the long term, consumption remains a strong growth story, driven by factors such as a strong demographic dividend, per capita income crossing the critical US$2,000 mark, increasing urbanization and growing digitization, which improves access to products and services.
While these geopolitical risks are concerning – especially the trade wars and sanctions – the dollar index has weakened, inflation is moderating, commodity prices are falling, and oil prices have remained relatively stable, which benefits India's market.
we have collated a list of four stocks that witnessed a 5-year swing high at the close on September 2
