Scan to Download
The Nifty’s in a phase of consolidation and is likely to remain in it for the short-term, said Pushkar Kanetkar, assistant vice president (technical research) at GEPL Capital. “We are seeing profit booking at the 10,0130 levels, the record high of the index, which is also the big resistance right now,” he told BloombergQuint by phone.
Kanetkar advised against making any fresh investment at current levels. “One can buy if the Nifty drops to 9850 or thereabouts. But remain stock specific.” He recommended buying two auto stocks – Ashok Leyland and Motherson Sumi.
Shares of the Chennai-based software developer fell as much as 14.4 percent to R381, its lowest in over two years.
The promoter of the company, Suresh Venkatachari pledged 0.49 percent stake in the company with IFCI and Indian Bank.
Trend for the markets remain positive in the near term, Amar Singh, head of advisory at Angel Broking said. “Fresh long positions should be created if Nifty closes above 10,140,” Singh told BloombergQuint by phone.
On the downside, he said, support for Nifty was around 9,970-10,000 levels, while on the upside, the index faces resistance near all-time high of 10,137.
Source: NSE website
Shares of the drugmaker rose as much as 2.74 percent, the most since September 1, to Rs 2,225.
Its subsidiary Aurigene Discovery Technologies launched second phase of clinical trial for drugs used in treatment of cancer and inflammatory diseases, the company said in a stock exchange filing.
Shares of power generators including Tata Power, JSW Energy and Lanco Infratech rose ahead of auctions on Wednesday to secure coal supply from Coal India.
Tata Power gained as much as 7 percent in Mumbai, the biggest intra-day increase since July 10; JSW Energy rose as much as 5.8 percent, while Lanco jumped as much as 4.8 percent.
Buyers and sellers were not immediately known.
Source: Bloomberg
Shares of the Delhi-based retailer jumped as much as 6.2 percent, the most since September 11, to Rs 474.65 after it reported June quarter earnings.
Key Q1 highlights
Shares of the Mumbai-based entertainment company jumped as much as 11 percent, the most since August 29, to Rs 385 post June quarter earnings.
Key Q1 Highlights
Shares of the Mumbai-based company jumped as 7 percent, the most since July 10, to Rs 86.70 after its promoters Tata Sons indicated at increasing stake in the company.
Meanwhile, credit rating agency CARE Ratings reaffirmed its 'CARE AA STABLE' rating on company's long-term debt instruments, Tata Power said in a stock exchange filing.
The RBI will pause on rates for the rest of FY18, Kotak Mahindra Bank reiterated its call in a note.
Pressure is seen on bonds as August inflation rate accelerated to the fastest since March, exceeding expectations ahead of the central bank’s policy review in October. CPI quickened to 3.36 percent in August, as against Bloomberg estimate of 3.24 percent.
A point to be noted here is that this is the second consecutive month of price surge, which is close to the RBI's inflation expectation at between 2 to 3.5 percent till September this year. After declining 0.4 percent so far this week, the rupee could halt two days losses today due to broad dollar weakness.
For complete list of stocks to watch, click here
UBS on TCS
Credit Suisse on Oil & Gas
BoFAML on GAIL India
Jet Airways (Q1FY18 YoY)
Future Lifestyle Fashions (Q1FY18 YoY)
Shemaroo (Q1FY18 YoY)
Asahi Songwon Colours (Q1FY18 YoY)
Kesar Terminals (Q1FY18 YoY)
Mandhana Retail (Q1FY18 YoY)
Here's a line up of all the major corporate/investor meetings over the next few days.https://t.co/xLaBfZhRbv pic.twitter.com/busY6akMXR
— BloombergQuint (@BloombergQuint) September 13, 2017
From tomatoes to onions: Vegetable prices push up India’s inflation in August.https://t.co/r0lTOf3Yul pic.twitter.com/KplKi9MEBM
— BloombergQuint (@BloombergQuint) September 12, 2017
Apple bets on augmented reality to sell its most expensive phone. https://t.co/JzHCo2t8HE pic.twitter.com/3T8fhIqNY4
— BloombergQuint (@BloombergQuint) September 13, 2017
Jamie Dimon slams bitcoin as a ‘fraud’.https://t.co/k2pKfiHJh6 pic.twitter.com/5LKnLACVWx
— BloombergQuint (@BloombergQuint) September 12, 2017
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
.png)
