"Domestic equities (on Friday) cheered impressive growth in India's Q1 GDP and core sector output. Overall, we expect the market to trade in a range with sector- and stock-specific actions as the broader market momentum remains positive," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
“Auto, IT and metal look promising while defensive viz. FMCG and pharma may continue to witness a subdued trend. Traders should align their positions accordingly and prefer stocks that are attracting consistent buying,” said Ajit Mishra, SVP - Technical Research. Reliance Industries (RIL), NTPC, HCL Technologies, PVR INOX among stocks to watch on Monday.
Billionaire Mukesh Ambani’s Reliance Retail Ventures is in advanced talks with global investors to raise around $2.5 billion by the end of September, ahead of a potential stock market listing, Reuters reported citing sources.
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State-owned entities NTPC and Oil India have entered into an agreement to explore collaborations in the areas of renewable energy, production of green hydrogen and its derivatives. The collaboration is also to pursue geothermal and other decarbonisation initiatives, NTPC said in a statement.
Shares of Abirami Financial Services, Asian Hotels, Birla Cable, Electrosteel Castings, Gravita India, Jai Corp, Radiant Cash Management, Universal Cables will trade ex-dividend on Monday (September 4).
HCL Tech has completed the acquisition of ASAP Group, a German automotive engineering services provider. The company had intimated the acquisition on July 12 and confirmed the completion through a BSE filing.
Multiplex player PVR Inox is expecting a strong September quarter after it recorded its highest-ever monthly footfalls and box office in August. Business in August points the company to a strong September quarter,” Co-CEO Gautam Dutta said as Sunny Deol-starrer Gadar 2, Akshay Kumar's OMG 2, Rajinikanth's Jailer and Dreamgirl 2 brought audiences to cinema halls in August.
Aditya Birla Fashion and Retail plans to raise Rs 750 crore on or after September 4 through debt bonds, the company said on Thursday. The company will raise funds on a private placement basis, Aditya Birla Fashion and Retail (ABFRL) said in a regulatory filing.
After the successful soft landing of Chandrayaan-3, ISRO launched the country's maiden solar mission Aditya-L1 on Saturday. Aditya-L1 spacecraft is designed for providing remote observations of the solar corona and in situ observations of the solar wind at L1 (Sun-Earth Lagrangian point), which is about 1.5 million kilometres from the earth. Shares of L&T, MTAT Technologies, and other companies involved in the project will be in focus.
"The short-term trend of Nifty has turned up and one may expect further upside in the short term. The next overhead hurdles to be watched around 19,600 and 19,800 levels in the next couple of weeks. Immediate support is placed at 19,350 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
“Bank Nifty has also witnessed a sharp pullback. It has held on to its 20-week moving average support (44,144) and also closed in the green. We expect the pullback to continue over the next week as well. Daily and Hourly momentum indicators have a positive crossover which is a buy signal. We expect Bank Nifty to target levels of 45,000 from short-term perspective," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.