Page 172 - Market Trends
HLE Glascoat zooms 16%; here's what fueling the sharp rally at the counter
On Tuesday September 26, DSP Mutual Fund's DSP Micro Cap Fund purchased 2.4 million equity shares representing 3.5 per cent of total equity of HLE Glascoat for Rs 121.25 crore.
 "HLE Glascoat zooms 16%; here's what fueling the sharp rally at the counter")
Britannia, CDSL, Polyplex among 5 low-risk stocks to add to your portfolio
Data Patterns (India) and Godfrey Phillips are the other two stocks which seem to be favourably placed on the charts, thus making a case for lower-risk at current levels.
 "Britannia, CDSL, Polyplex among 5 low-risk stocks to add to your portfolio")
Nifty needs to sustain above 19,550 for bullish bias to hold
Among individual stocks, Vinay Rajani, technical & derivative analyst of HDFC Securities, recommends a Buy on Union Bank and GSFC.
 "Nifty needs to sustain above 19,550 for bullish bias to hold")
Buy the dips in Nifty FMCG, Financials; here's why
According to Ravi Nathani, an independent technical analyst, the 'buy the dips' strategy seems particularly relevant in the current market conditions.
 "Buy the dips in Nifty FMCG, Financials; here's why")
Varun Beverages outperforms, up for 4th day in a row; analysts upbeat
Analysts believe VBL is expected to continue its strong growth momentum, which will be led by Normalcy of operations and market share gains in newly-acquired territories (post COVID-19 disruptions).
 "Varun Beverages outperforms, up for 4th day in a row; analysts upbeat")
Jefferies is bullish on these two 2-wheeler makers, sees up to 23% upside
Analysts at Jefferies, believe that the time is ripe to buy Eicher Motors given alleviating competitive concerns, along with tailwinds of 2W demand recovery, industry premiumization and exports.
 "Jefferies is bullish on these two 2-wheeler makers, sees up to 23% upside")
Delta Corp sinks 23% in 2 days post tax notice; Kacholia sells 0.6% equity
The stock was quoting at its lowest level since December 2020 after the company received a tax notice amounting to Rs 16,822 crore last Friday, September 22.
 "Delta Corp sinks 23% in 2 days post tax notice; Kacholia sells 0.6% equity")
Nifty Pvt, PSU Bank indices: What should be your trading strategy here?
According to Ravi Nathani, an independent technical analyst, one should adopt a 'Buy on Dips' strategy for Nifty Private Bank index, while a 'Sell on Rise' strategy in case of the PSU Bank index.
 "Nifty Pvt, PSU Bank indices: What should be your trading strategy here?")
Apollo Micro surges 10% on inking multiple agreements with DRDO
The company also announced that it recently was declared as the lowest bidder in multiple projects from the DRDO and another government sector company.
Pivot level for Nifty stands at 19,336, near support seen at 19,600
According to Ravi Nathani, an independent technical analyst, break of 19,336 on the Nifty could usher in a bearish trend.
 "Pivot level for Nifty stands at 19,336, near support seen at 19,600")
Bajaj Healthcare zooms 53% in four weeks on healthy FY24 guidance
EBITDA margins would be in the range of 16 -20 per cent for the FY24, mainly driven by growth in the formulation biz and with the introduction of reverse engineering APIs launched in the last fiscal.
 "Bajaj Healthcare zooms 53% in four weeks on healthy FY24 guidance")
Berger Paints gains 4% on turning ex-bonus; stock hits 52-week high
Berger Paints had fixed September 23, 2023 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for the 1:5 bonus issue.
 "Berger Paints gains 4% on turning ex-bonus; stock hits 52-week high")
Glenmark Pharma slips 5% on inking deal to sell 75% stake GLS to Nirma
The company announced that it will sell 75 per cent stake in Glenmark Life Sciences (GLS) to Nirma for Rs 5,652 crore at Rs 615 per share.
 "Glenmark Pharma slips 5% on inking deal to sell 75% stake GLS to Nirma")
Nava surges 13%, hits record high in weak market on heavy volumes
In past four months, the stock price of Nava has appreciated by 84 per cent after the company recorded a remarkable financial performance for June quarter (Q1FY24).
 "Nava surges 13%, hits record high in weak market on heavy volumes")
SJVN slips 10% as government begins partial stake sale via OFS
The government will sell 96.67 million shares, or 2.46 per cent stake, in the company with an option to sell additional 2.46 per cent stake under offer for sale (OFS) route on Thursday and Friday.
 "SJVN slips 10% as government begins partial stake sale via OFS")
Nifty Pvt Bank index to remain bullish as long as it holds 22,770
According to Ravi Nathani, an independent technical analyst, the interim support levels for the private bank index are placed at 23,420, 23,120, 22,900.
IFCI zooms 28% in 2 days, hits over 5-year high on huge volumes
Till 02:29 PM: a combined 172 million equity shares representing nearly 7 per cent of total equity of IFCI had changed hands on the NSE and BSE.
 "IFCI zooms 28% in 2 days, hits over 5-year high on huge volumes")
Surya Roshni gains 4% in weak market on fixing record date for stock split
The company has fixed October 6, 2023 as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for subdivision of equity share in a ratio of 2:1.
Blue Star surges 15%, hits record high on launch of Rs 1,000 cr QIP issue
The company proposed to raise around Rs 1,000 crore at a floor price of Rs 784.55 per equity share.
 "Blue Star surges 15%, hits record high on launch of Rs 1,000 cr QIP issue")
Karnataka Bank gains 4%, hits over 15-year high on fund raising plans
The board of the private sector lender is scheduled to meet on Friday, September 22, 2023 to consider the raising of funds by issue of equity shares / any other equity linked securities.
 "Karnataka Bank gains 4%, hits over 15-year high on fund raising plans")