Markets are likely to remain consolidative with action in select mid/small caps. With the monsoon arrival expected early this week, rural and agri-related stocks would also be in focus
Mixed global cues combined with a lack of decisiveness in the banking pack are causing uncertainty in the stock market. Bank of Baroda, Apollo Hospitals, Minda Corporation among stocks to watch on Monday.
India’s largest gas firm GAIL has infused Rs 2,100 crore in insolvent private-sector chemical company JBF Petrochemicals Ltd which it had acquired in bankruptcy proceedings. The firm had in March won bankruptcy court approval for taking over JBF
Minda Corporation board has approved the proposal of raising of funds by way of further issuance of securities through public and/or private offerings for an aggregate amount not exceeding Rs 600 crore.
The board of Bank of Baroda on Friday approved its plan to raise Rs 5,000 crore via additional tier-1 (AT-1) or Tier-2 debt instruments by March 31, 2024. "The above capital will be raised when the market is conducive," it said
Apollo Hospitals is looking to raise around $200 million this fiscal by selling stake in its healthcare platform, Apollo HealthCo. It is looking to sell around 5-6% stake in Apollo HealthCo at an expected enterprise value of $2.5-$3 billion, according to media reports.
AstraZeneca has announced the launch of its revolutionary cancer medication, IMJUDO® (tremelimumab) in the UAE. The launch makes the UAE one of the first countries in the Middle East to receive access to the medication that marks a significant advancement in the treatment of cancer
“Nifty as per weekly chart formed a small negative candle with minor upper and lower shadow. By considering previous consolidations in the recent past and the negations of such bearish patterns subsequently, one may expect upside bounce in the market in the coming week. Immediate support is at 18,400-18,300 band and the next upside hurdle is around 18,650-18,850 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“If Bank Nifty index breaks below the support at 43,500, it may signal a bearish move with potential downside momentum. Conversely, if it breaks above the resistance at 44,200, it may indicate a bullish move with potential upside momentum,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
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