Join our Telegram Channel for Live Updates and Calls: FunDirector
Nifty View:
We have been discussing volatility and consolidation for the last many days. Intraday fall was expected too.
So as we discussed the strategy is simple that profit booking at every high. Being Wednesday the volatility can be expected at its peak. With a net positive consolidation.
Midcap and smallcap have been under immense selling pressure on the last day too. So watch for the reversal.
16000 to 16500 can be considered as a new range of consolidation like the 15500- 16000 range. A bull momentum can only be expected above 16,350. 16,140-16,180 can be considered for near-term support and 16,350 seems to be a good resistance.
Steel stocks can be focused today as they have been undergoing selling pressure.
Aggressive trades are not recommended as we can expect volatility in the market.
Stocks in News:
LUPIN Q1 : Cons. Net profit Up 18 % To Rs 542 cr (QOQ), Up 407 % YOY, Revenue Up 13 % To Rs 4270 cr (QOQ), Up 21 % YOY, EBITDA up 34 % To Rs 965 cr (QOQ), Down 228 % Yoy
Zomato's net loss widens to Rs 356 crore in the first quarter, Zomato's gross orders in the reported quarter rose more than four times to Rs 4,540 crore from a year earlier, while revenue from operations rose to Rs 844 crore.
SBI Life Insurance Company: The company is liable to refund Rs 84 crore plus interest amounting to Rs 27 crore with effect from July 11, 2017, for its Supersuraksha Life Insurance Policy on orders of the Insurance Regulatory and Development Authority of India, according to an exchange filing.
Ujjivan Small Finance Bank: Restructured book at Rs 769 crore as of June 30. Provisions on the book at Rs 1,149 crore. MicroBanking GNPA at 11.6%, Affordable Housing GNPA at 4.5%, and MSE GNPA at 11.6%.
Rattanindia Enterprises: To make a strategic investment in U.S.-based Matternet, an urban drone logistics platform. With this investment, REL has forayed into the deep-tech Unmanned Aerial Vehicle industry.
Capacite Infraprojects: The company’s order book stood at Rs 8,871 crore as of June 30. 61% of the order book comprised of public sector orders and 39% comprised of private-sector orders.
GMR Infrastructure: Board to meet on August 13 to consider raising up to Rs 6,000 crore in one or more tranches through the issue of securities including a QIP and/or FCCBs.
Chalet Hotels: Appointed Milind Wadekar as Chief Financial Officer effective August 10.
Karnataka Bank: The bank is in the process of upgrading its technology platforms and is proposed to undertake tech migration activity between August 14-17. Even though all the necessary alternate arrangement is put in place to ensure normal banking operations during this period, the probability of unanticipated technical glitches can’t be totally ruled out, the bank said.
Major Corporate Results on 11.08.21:
- BATA INDIA
- PIDILITE IND
- INDIA CEMENT
- CUMMINS INDIA
- GSFC.
- PRAJ IND.
- BAJAJ ELECTRICAL.
- IDFC LTD
- KOLTE PATIL DEV.
