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Nifty View
After a short-term correction China's Markets showed a recovery last day, which impacts the overall Asian market to a positive trend, hope we can see it in our markets too today.
SGX Nifty indicates a gap-up opening for Nifty. Overall global cues are positive.
We can choose to Buy in dips for short-term targets. Stock specific or sector specific actions to continue for some days too. Watch for the steel sector reversal for buy in dips.
16,580 is the important resistance to watch for and 16,350 is major support. The range-bound action between 16,200 and 16,700 is important for the coming days.
Stocks in News:
Cadila Healthcare: Zydus Cadila’s Covid vaccine, ZyCoV-D, has received approval for Emergency Use Authorization from the Drug Controller General of India. The world’s first Plasmid DNA vaccine will be administered to all above 12 years of age. Zyvox-D is a 3-dose vaccine that can be injected with the company's own needle-free system. This vaccine was developed domestically by Zydus Cadila in partnership with India's Department of Biotechnology. The company plans to manufacture 10-12 crore doses of ZyCoV-D annually.
Infosys: With the new I-T portal remaining unavailable for almost two consecutive days, the Finance Ministry has "summoned" Infosys MD and CEO Salil Parekh on Monday to explain to Finance Minister Nirmala Sitharaman the reasons for continued glitches even after over two months of launch.
Adani Total Gas: To buy 50% stake in Smartmeters Technologies for Rs 1 crore. The acquisition is expected to be completed by September 2021.
Ambuja Cements: Rajasthan Chief Minister Ashok Gehlot virtually inaugurated the trial run of Ambuja Cements Limited's Rs 2,350 crore greenfield integrated plant in Nagaur district. The integrated plant - Marwar Cement Works- enhances the company's clinker capacity by 3 million tonnes per annum (MTPA) and helps in improving cement sales by 5 MTPA.
Power Grid Corporation of India, India Grid Trust and Parbati Koldam Transmission Company have executed a new shareholders agreement. PKTCL was a joint venture company of Reliance Infrastructure (74%) and Power Grid (26%). Upon transfer of shares by Reliance Infra to India Grid Trust in PKTCL, the shareholders agreement was terminated.
Aurobindo Pharma: Cancelled the proposed deal to buy 51% stake in Cronus Pharma Specialities. In its meeting held on August 20 approved the termination of the aforesaid agreements and the parties mutually agreed and terminated the said agreements.
Indostar Capital Finance: Promoter Indostar Capital to exercise the greenshoe option to the extent of 6.13 lakh equity shares (representing 0.45% of the total equity share capital on a fully diluted basis) in addition to the base offer size of 61.89 lakh equity shares. The OFS opens for retail investors today.
New Listings: Nuvoco Vistas, Aptus Value Housing Finance
