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Market Highlights

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

August 21, 2023

  • Stock to watch
  • 1)     RELIANCE IND is on the verge of a Triangle Breakout on the daily chart. Currently, the stock has seen huge volume activity with price stability. Momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good in the range of 2556 to 2530 and can test 2770 support at 2474. Short term view
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  • 2)     AXIS BANK is on the verge of a Falling wedge pattern breakout on the hourly charts. The stock has taken support near its 100-day EMA. Momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good in the range of 944 to 938 and can test 1000 support at 909. Positionalview.
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  • 3)     HINDUNILEVER has witnessed a Falling channel breakout on the daily chart. The stock is poised for a decent rally from the current levels. The momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good in the range of 2554 to 2525 and can test 2850 support at 2399. Positional view
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  • 4)     LEMON TREE HOTELS is on the verge of a Cup and Handle breakout on the daily charts. The stock has gained volumes on Friday's trade. The momentum indicator RSI is positive on the daily chart. Therefore, the stock looks good on dips to 98 and can test 125 support at 88. Positional view
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  • 5)     SBI LIFE INSURANCE has formed a Hammer candle after six days of sharp correction on the daily charts. Recently, the stock has taken a pause near the multiple support region. Momentum Indicator RSI is positive on the hourly charts. Therefore, the stock looks good in the range of 1282 to 1250 and can test 1400 support at 1221. Positional view.
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  • For charts you can visit twitter @RahulRanderia .
  • *India Daybook – Stocks in News*
  • *Jio Financial Services:* Company will be added to MSCI Global Standard Index on August 23 (Positive)
  • *KEC International:* Company wins new orders worth Rs 1,007 crore across various businesses. (Positive)
  • *Titan:* Company acquires 27% stake in Carat Lane for Rs 4,621 crore (Positive)
  • *GMR Airports:* July Passenger traffic up 30% (YoY) (Positive)
  • *Gujarat Gas:* Company hikes industrial gas price to Rs 40.83 per scm, sources to CNBC (Positive)
  • *PNB Housing Finance:* Company resolves and fully recovers corporate Non-performing account of Rs 784 cr (Positive)
  • *Cholamandalam/Carborundum/Coromandel/CG Power:* Murugappa family settles legal disputes with Valli Arunachalam (Positive)
  • *Concord Biotech:* Norges Bank on Account of the Government Pension Fund Global has bought 8.99 lakh equity shares (Positive)
  • *Global Surfaces:* Europe-based financial services group Societe Generale has purchased 2.5 lakh shares (Positive)
  • *Repro India:* Morgan Stanley Asia (Singapore) Pte has bought 1.65 lakh shares . (Positive)
  • *ONGC:* ONGC Videsh has secured a three-year extension from Vietnam to explore 'Block 128' in the South China Sea. (Positive)
  • *Spandana Sphoorty* ICRA has upgraded the ratings and revised the outlook for various instruments. (Positive)
  • *Ashok Leyland:* To issue Rs 870 crore corporate guarantee to cover lender facilities of two subsidiaries Optare Plc & Switch Mobility UK (Neutral)
  • *Tanla Platforms:* Won’t renew Voda Idea agreement beyond expiry of initial term in November 2023 (Neutral)
  • *Lupin:* Acquires Ondero & Ondero - Met brands from Boehringer Ingelheim for ₹235 crore (Neutral)
  • *Adani Energy Solutions:* To meet investors on Aug 23, Aug 30: Agencies. (Neutral)
  • *SJS Enterprises:* Ace investor Ashish Kacholia has sold 1.8 lakh shares or 0.58 percent stake . (Neutral)
  • *NMDC:* The Government of India has extended the tenure of appointment of Amitava Mukherjee as Director (Finance) on the NMDC board. (Neutral)
  • *CreditAccess Grameen:* Company said its executive borrowing & investment committee has approved the fund raising up to Rs 1,000 crore (Neutral)
  • *GMM Pfaudler:* Pfaudler sold 61 lakh shares (13.5%) at Rs 1,352.1 apiece. (Neutral)
  • *Mahindra & Mahindra:* The SUV manufacturer has announced proactive inspection of select XUV products. (Neutral)
  • *Sterling and Wilson:* Khurshed Yazdi Daruvala sold 10 lakh shares (0.5%) at Rs 345.04 apiece. (Neutral)
  • *Kotak Mahindra Bank':* Chairman Prakash Apte said the attrition challenge for the bank is concentrated at the junior management level. (Negative)
Panchkarma