Nifty on the Edge: Will Bulls Charge or Bears Feast?
Nifty as on now taking support near the 22,100 zone has picked up gradually with some volatility witnessed and ended the session near 22,200 zone with bias once again improving and anticipating for further rise in this week.
Our Recommended Strike Price was Nifty 22100 – 22250
Potential Level : 22432.78, 22401.37, 22211.58, 22180.17, 22059.83, 22028.42, 21838.63 & 21807.22
Bank Nifty on a Tightrope: Will it Climb or Tumble?
Bank Nifty took support near 46,350 zone during the intraday session and ended on a flat note near 46,600 level. Bank Nifty would have the daily range of 46,300-47,000 levels.
Our Recommended Strike Price was Bank Nifty 46300 – 46700
Potential Level : 47203.15, 47137.05, 46737.7, 46671.6, 46418.4, 46352.3, 45952.95 & 45886.85
Stocks on News
Larsen & Toubro: L&T Infrastructure Development Projects (L&T IDPL), a subsidiary of the company, has completed the sale of its entire stake in Interise Investment Managers (IIML), a wholly owned subsidiary of L&T IDPL. Consequently, IIML has ceased to be a subsidiary of L&T IDPL and the company.
Zee Entertainment Enterprises: The Board of Directors of the media and entertainment company has approved to further expand and strengthen the role of the ‘Independent Advisory Committee’ by including ‘Investigation Assessment’ as a primary responsibility of this committee and to amend the nomenclature of the committee from “An Independent Advisory Committee” to ‘An Independent Investigation Committee”.
Oil and Natural Gas Corporation: The state-owned company has incorporated its wholly owned subsidiary, ONGC Green, which will engage in the value chains of energy business, namely renewable energy, bio-fuels and bio-gas business, green hydrogen and its derivatives like green ammonia and green methanol, storage, carbon capture utilization and storage, and LNG business.
Axis Bank: The Reserve Bank of India has approved the appointment of Munish Sharda as Executive Director of Axis Bank for three years, with effect from February 27. In October last year, the board of directors of the bank approved the appointment of Munish Sharda as a whole-time director, designated as executive director.
Vodafone Idea: The board of directors has approved a fund raise of up to Rs 20,000 crore via equity. Through a combination of equity and debt, the company plans to raise around Rs 45,000 crore. The company’s bank debt currently stands at less than Rs 4,500 crore. The equity and debt fund raising will enable the company to make investments towards significant expansion of 4G coverage, 5G network rollout, and capacity expansion.
Titan Company: The company has acquired a balance of 1,19,489 equity shares (which is 0.36 percent of paid-up equity) held by the individual shareholders of CaratLane Trading in CaratLane for Rs 60.08 crore. The company currently holds 99.64 percent of the total equity share capital of CaratLane.
ICICI Lombard General Insurance Company: Promoter ICICI Bank bought 69,82,852 equity shares (equivalent to 1.4 percent of paid-up equity) in the general insurance company at an average price of Rs 1,666.35 per share, valued at Rs 1,163.6 crore. However, Bharti Enterprises offloaded 62,50,900 equity shares (1.3 percent of paid-up equity) in the company at an average price of Rs 1,666.35 per share. Bharti Enterprises held a 3.7 percent stake in ICICI Lombard as of December 2023.