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Nifty View:
After Fed Powell 's Speech at Jackson Hole Monetary Conference Global markets had climbed up. So nothing on the Negative Side in Global cues.
SGX Nifty indicates a Positive opening for Nifty. Watch for Profit booking at Highs.
16,800-16,830 will be a major resistance for Nifty and 16,720 followed by 16,600 will be acting as support.
39 of Nifty 50 stocks had closed in Green yesterday. FIIs were net sellers of 778cr and DIIs were net buyers of 1646cr last day.
Focus on Nifty 50 stocks to give good move, the Auto sector had given signs of reversal ahead of monthly auto sales data.
FIIs on the Buy-side may give some more momentum to Nifty, hopefully, 17000 will be our next target.
Stocks In News:
Bharti Airtel: Plans to raise up to Rs 21,000 crore through a rights share issue as it looks to bolster its balancesheet before rolling out its 5G network.
Mahindra & Mahindra: The Ministry of Defence has awarded a contract worth Rs 1,349.95 crore to Mahindra Defence Systems. The company will manufacture an Integrated Anti-Submarine Warfare Defence Suite for modern warships of the Indian Navy. It will supply 14 IADS systems for the Indian Navy warships.
Cipla: UCB, University of Iceland sue Cipla to block Nayzilam copies
Nazara Technologies: Acquired 100% stake in Hyderabad-based skill gaming company OpenPlay Technologies for a total consideration of Rs 186.4 crore. The company acquired 10,000 equity shares of Rs 10 each from existing shareholders of OpenPlay, Sreeram Reddy Vanga and Unnati Management Consultants LLP.
Burger King India: To buy up to 85% in Burger King Indonesia. The Indian company’s offer to acquire up to 85% in PT Sari Burger, through secondary purchase and a further investment of up to $40 million, was accepted by the Indonesian company’s promoter F&B Asia Venture Singapore Pte. The offer values the operator of the Burger King brand in Indonesia at a pre-money enterprise value of $183 million on a cash-free and debt-free basis.
Max Healthcare Institute: Acquired exclusive rights to aid development and provide medical services to a 500-bed hospital to be built on 3.5 acres of a prime land parcel in Saket (South Delhi) through its wholly-owned subsidiary, Alps Hospital. Alps has acquired 100% stake in ET Planners in an all-cash deal of Rs 60.11 crore.
Tech Mahindra: The company’s wholly owned subsidiary, Tech Mahindra (Americas) Inc., approved the proposal to acquire 13.8% equity shares in AustinGiS Inc. for $1.25 million. The acquisition is expected to be completed by September 15.
