Market Highlights

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Get the latest Indian stock / share market highlights, BSE/NSE stock news, business research reports & details - updated daily by Money Times.

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February 26, 2024

• Stock to watch
• 1) PIRAMAL ENTERPRISE has witnessed a Rising channel breakout on the daily chart. The stock has formed a Bullish candle with strong volume on the weekly charts. Momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good on dips to 910 and can test 1000 support at 836. Positional view
• 2) SUNTV has seen a Falling channel breakout on the daily charts. The stock has gained strength after bouncing from its 200-day EMA. Momentum indicator RSI is positive on the daily charts. Therefore, the stock looks good on dips to 624 can test 685 support is at 581. Positional view.
• 3) SUPRAJIT ENG is on the verge of a Triangle breakout on the daily charts. The stock has formed an Engulfing Bullish pattern on the weekly charts. The momentum indicator RSI is positive on the daily charts. Therefore, the stock looks good on dips to 405 and can test 475 support at 369. Positional view
• 4) JSW INFRA has seen a Congestion Breakout on the daily charts. The stock has formed a Bullish candle with volumes on the weekly charts. The momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good on dips to 250 and can test 290 support at 219. Positional view
• 5) PNC INFRATECH has seen a Pullback after a multi-year Rounding Bottom breakout on the daily charts. The stock has formed a Bullish candle on the daily charts. Momentum Indicator RSI is positive on the daily charts. Therefore, the stock looks good in the range of 424 to 415 and can test 465 support at 399. Positional view.
• This content is for Educational purposes only. Please consult your financial advisor before investing/trading.
• *India Daybook*
• *Stocks in News*
• *Alembic Pharma:* Company fully resumed manufacturing operations at Sikkim plant (Positive)
• *Suven Pharma:* U.S. FDA completes pre-approval inspection, good manufacturing practices inspections. (Positive)
• *Bajaj FInserve:* Bajaj Allianz Life individual rated new business grows 3x industry average in 9M of FY24 (Positive)
• *Tips Ind* Board to consider proposal for buyback shares on February 28 (Positive)
• *Bharat Forge:* Company invests €15 million in unit Bharat Forge Global: (Positive)
• *Orchid Pharma:* Company gets U.S. FDA approval for novel drug Enmetazobactam (Positive)
• *Sanofi:* Net Profit at Rs 137.7 crore versus Rs 131.0 crore, Revenues at Rs 694.0 crore versus Rs 672.0 crore (Positive)
• *Kotak Mahindra Bank:* Zurich Insurance to buy 70% stake in Kotak Mahindra General Insurance Company for Rs 5,560 crore. (Positive)
• *Jakson Green:* Inks pact with Rajasthan discom to supply power from upcoming 100-MW solar project (Positive)
• *Sona Coms:* India Ratings has upgraded the Company’s Long-Term Rating on bank facilities to ‘IND AA+/Stable’ from ‘IND AA’/Positive. (Positive)
• *KPI Green:* Power Project won in Gujarat by company through competitive bidding process (Positive)
• *Shakti Pumps:* Company Limited has received work order from Haryana Renewable Energy Department for Rs 84.3 crore. (Positive)
• *Max Health: Board gives in-principle approval for acquisition of land parcel in Uttar Pradesh worth Rs 167 crore (Positive)
• *Supreme Ind:* Company signs power delivery agreement, security subscription and shareholder agreement with SPV formed by O2 Energy SG. (Positive)
• *TRIL:* Company gets order worth Rs 232 crore from Power Grid Corporation for auto transformers (Positive)
• *Zydus Lifesciences:* Company receives WHO prequalification approval for API, formulation of Miltefosine. (Positive)
• *Zaggle:* Company signs customer service agreement with Emcure Pharmaceuticals for benefits & expense management platform Zaggle Save. (Positive)
• *Bajaj Electronics:* New store opens in New Delhi. (Positive)
• *Skipper:* Company secures ₹737 crore order from Power Grid Corporation (Positive)
• *Adani Green:* Uber's CEO and Gautam Adani anticipated to collaborate for green mobility in India (Positive)
• *DLF:* Company plans to launch properties worth nearly Rs 80,000 crore over the next 3-4 years (Positive)
• *Narayana Health:* Company has been allotted 7.26 Acres of land in CBD Area, Kolkata (Positive)
• *Dixon Tech:* Company launched a new factory in Dehradun for manufacturing washing machines (Positive)
• *RITES:* Company gets letter of intent for infrastructure development of permanent campus of IIT Bhubaneswar at Odisha (Positive)
• *Infibeam:* Acquires 20% strategic stake in US based XDuce for USD 10 Million To penetrate the US Markets with CCAvenue Payment Gateway (Positive)
• *Zee Entertainment:* Company constitutes an independent advisory committee headed by Retired Judge Satish Chandra (Neutral)
• *Punjab & Sind Bank:* To consider raising funds up to ₹2,000 crore on February 28, 2024 (Neutral)
• *Hudco:* The Government proposed to divest part of shareholding in the company (Neutral)
• *Union Bank:* Approves issue price of Rs 135.65 per share in QIP. (Neutral)
• *Swan Energy:* Company to consider issue price for QIP of shares on February 28 (Neutral)
• *Paytm:* RBI asks NPCI to make alternative arrangements for UPI users of Paytm Payments Bank. (Neutral)
• *KIOCL:* Mangalore pellet plant unit operations to be suspended effective February 24 (Neutral)
• *Ashok Leyland:* Company invests Rs 24.95 crore in TVS Trucks to strengthen company's automotive business (Neutral)
• *Biocon:* Company has issued a Corporate Guarantee on behalf of Biocon Generics Inc, a wholly owned step down subsidiary of the Company (Neutral)
• *ICICI Lombard:* Company appoints Anand Singhi, Chief - Retail & Government, as Key Management Person (Neutral)
• *Reliance Ind:* Disney, Reliance said to have signed binding merger pact (Neutral)
• *MAS Financial:* Company allots 10.9 crore bonus equity shares of company to eligible members in the ratio of 2:1. (Neutral)
• *Axis Bank:* Amitabh Chaudhry, MD & CEO & Ravi Narayanan, Group Executive, Head - Branch Banking To Announce Significant Business Development. (Neutral)
• *HDFC Bank:* Company gets RBI nod for sale of equity shares of HDFC Credila Fin (Neutral)
• *Piramal Pharma:* U.S. FDA concludes pre-approval inspection of company's U.S.-based facility with 2 observations, issues Form-483. (Neutral)
• *IFGL Refractories:* Director and CEO Kamal Sarda resigns effective March 1 (Negative)
• *Rain Ind:* Revenues down 25% at Rs 4100 Crores Vs Rs 5457 Crores, Loss at Rs 1079 Crores Vs Profit of Rs 126 Crores (Negative)
• Orchid is the first company from India, ever to have invented a product which has received a New Drug Approval (NDA) from USFDA. It is a significant development in addressing the global need for affordable and efficacious drugs to combat Anti-Microbial Resistance (AMR).