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*Amber Enterprises* and its subsidiary IL JIN have received approval under the Production Linked Incentive Scheme for Air Conditioners (components). Amber would be required to make investment of Rs. 300 Cr & IL JIN Rs. 100 Cr. We estimate cumulative revenue of Rs. 5-5.5k Cr to accrue over the 5 year period under both the PLI schemes combined. Positive in long term. (It was already expected that the co would get selected)
Reliance Industries Ltd (RIL) said that it is withdrawing its application to get necessary approvals to hive off its oil-to-chemicals (O2C) business into a separate unit due to the evolving nature of its business portfolio.

RIL also said it has mutually determined with Saudi Aramco that it would be beneficial for both parties to re-evaluate the proposed investment in the O2C business in light of the changed context.

Marginal Negative
*Economic recovery is expected to gain further traction during the second half of FY22, said India Ratings and Research (Ind-Ra)*.

Accordingly, the rating agency expects the economic recovery to gain momentum on the back of fading impact of the Covid-19 pandemic along with favourable financing and external demand conditions.
Consequently, it has maintained an "improving outlook" on domestic corporates for the second half of FY22.

it said that most sectors would continue to witness a surge in demand post the second Covid wave as they were better prepared than during the first wave.
"The fiscal and monetary measures have backed economic activities by maintaining adequate liquidity. The entities have learnt to make quick structural changes after the first Covid wave and are now better poised to face challenges if subsequent Covid waves appear."
https://english.lokmat.com/international/economic-recovery-to-gain-further-traction-during-h2fy22-ind-ra/
Greetings of the Day to all the dear members and my colleagues

In Markets every day we are witnessing good Upmove in Nifty and in stocks too.
Taking position is becoming risky for Intraday and F&O at higher levels. There are concerns towards which side the market will show its move in future.

It's time now to Join Market Wizard Premium Group and also Renew your Membership to avail super gains.

All the members and colleagues who want to continue to be a part of our Premium Family or want to become a part of our Premium Family can do so , by renewing their membership.We have started accepting payment for the month of June and it will be solely on FIRST COME FIRST SERVE BASIS.

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Brokerages on RIL

Jefferies: Buy, TP cut to Rs 2880 from Rs 3000

JPM: Neutral, TP Rs 2575

Nomura: Neutral, TP Rs 2850

GS: Buy, TP Rs 2855

CS: neutral with Tgt price of 2450


CS on Escorts
Neutral, TP Rs 1710


MS on ONGC
OW, TP Rs 235


GS on Coal India
Downgrade to sell, TP Rs 140


Clsa on phoenix Mills maintain OW with Tgt price of 1300
Just in:
Bharti Airtel Hikes Prepaid Tariffs Effective November 26
Entry level prepaid tariffs up 25% from Rs 79 to Rs 99
Airtel hikes prepaid tariffs by approx 20% (other than entry level)
@Reematendulkar @CNBCTV18News @CNBCTV18Live
Money Market Update

The rupee ended at 74.23 against the U.S. Dollar on Thursday as compared to Wednesday's closing of 74.27.
Market Wizard
ADDED VALIANT ORGANICS AT 1150
VALIANT ORGANICS 1180❤️❤️