Market likely to open on a positive note as SGX Nifty is trading up.
Nifty may stretch to reach 9940 level and can be considered as an opportunity to lighten the long positions if any and go short.
🎯 News & Impact 🎯
🎯 Heromotocorp :
Company's total sales at 7.20 lakh units Vs 6.74 lakh units (YoY).
🎯 Auto Sector :
The government has cut excise duties on petrol and diesel by Rs. 2 per litre with effect from Wednesday, taking an Rs 26,000 crore in tax annual hit of revenue to cushion consumers from soaring fuel prices that have hit an all-time high.
Positive for the sector.
🎯 M&M :
State-run Energy Efficiency Services Ltd has offered to give 40 % of the order for 10,000 e-vehicles to Mahindra & Mahindra provided it matches the former's bid.
Positive for the stock.
🎯 SJVN :
Cabinet likely to take up issue of addistional cost estimate of Rs 2100 crore for SJVNs Rampur project.
Positive for the stock.
🎯 Rcom :
Rating agency Moody didn't change the rating for the company after cancellation of Aircel deal.
🎯 IndiGO :
IndiGo to get DGCA nod for modified regional plans.
🎯 ONGC :
ONGC to go for bridge loan to fund HPCL deal.
🎯 IOB :
IOB waives processing fee on vehicle, housing loans.
🎯 IGL :
IGL hikes auto, cooking gas prices in Delhi-NCR.
🎯 India Cements :
India Cements gets shareholder nod for issue of NCDs/bonds/other securities.
🎯 Ahluwalia Contracts :
Company secured orders worth Rs.556 crore for construction of institutional, residential building.
🎯 Bharat Electronics :
Company approves allotment of bonus shares in ration 1:10.
🎯 Apollo Tyres :
Company launches QIP worth Rs.1500cr at Rs.250/share.
🎯 Cyient :
Company signs Global Software Licensing Agreement with Elpis Squared.
🎯 LT Foods :
Board approves raising of funds upto Rs. 500 cr via issuance of shares.
🎯 RBL Bank - ICRA upgrades rating to AA- from A on Basel III bonds.
Edited by Sharp.
© Sharp Investment & Financial Advisers
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