Good Morning🙏
Namaste🙏
Assalamu alaikkum🙏
Sat Sri Akaal🙏
Kem Cho🙏
Shubo Sakal🙏
Subha Prabhata🙏
శుభోదయం🙏
ಶುಭೋದಯ🙏
శుభోదయం మిత్రులారా🙏
🙏HAVE A BLASTING DAY🙏

☀️ MORNING UPDATES 🗞️
📗 LAST DAY'S SUMMARY  💯

The market extended its northward journey for a second consecutive session with the Nifty50 climbing above 19,800, which is on expected lines, on October 11. Hence, if the index sustains the 19,750-19,800 area in the coming sessions, the march towards the 20,000 mark can't be ruled out, while taking support at 19,600 - 19,500 levels .The BSE Sensex jumped 394 points to 66,473, while the Nifty50 rose 122 points to 19,811 and formed a bullish candlestick pattern with a minor upper shadow on the daily charts.

NIFTY (19,811.35)

The key support levels for the Bank  Nifty are  placed at 19,750.40  followed by 19,700.30 . On the upside, key resistance levels are placed  19,900.40 & 19,950.70 up levels.

BANK NIFTY (44,516.90)

The key support levels for the Bank  Nifty are  placed at 44,150.40  followed by 43,700.30 . On the upside, key resistance levels are placed  44,750.40 and 44,800.70 up levels.

STOCK RELATED NEWS FROM
LAST DAY

Plaza Wires : The wire and cables manufacturer is set to make its debut on the BSE and NSE on October 12. The issue price has been fixed at Rs 54 per share.

IndusInd Bank : The Reserve Bank of India has given its approval to SBI Mutual Fund for acquiring up to 9.99 percent of the paid-up share capital in IndusInd Bank. The RBI has advised SBI MF to acquire the said shareholding in the bank within a period of one year i.e. by October 10, 2024.

Delta Corp : The casino gaming company has recorded consolidated profit at Rs 69.44 crore for the quarter ended September FY24, rising 1.74 percent over a year-ago period, impacted by muted topline and operating performance. Revenue from operations for the quarter stood at Rs 270.6 crore, increasing 0.2 percent YoY.

PCBL : The RP-Sanjiv Goenka Group company has been granted two patients invention, from the Indian Patent Office. One is for the process for treatment of carbon black & oxidized carbon black obtained thereof, which is in relation to the innovative process for modifications of specialty grade carbon blacks for inks and coating applications. The second patent is for surface-modified carbon black grades to improve the performance of rubber compounds, which is in relation to the innovative carbon black composition developed by the company to improve fuel efficiency and tyre life.

Pricol : The automotive components maker has entered into a cooperation agreement with Heilongjiang Tianyouwei Electronics. Both companies will closely work with each other through technology transfer and supply partnership in order to provide advanced technologies in driver information system solutions for Indian vehicle makers across various vehicle segments.

💰 FIIs & DIIs DEALS  💴

Foreign institutional investors (FII) offloaded shares worth Rs 421.77 crore, while domestic institutional investors (DII) purchased Rs 1,032.02 crore worth of stocks on October 11.

🕉 ॐ नमः शिवाय: 🕉

Good Morning🙏
Namaste🙏
Assalamu alaikkum🙏
Sat Sri Akaal🙏
Kem Cho🙏
Shubo Sakal🙏
Subha Prabhata🙏
శుభోదయం🙏
ಶುಭೋದಯ🙏
శుభోదయం మిత్రులారా🙏
🙏HAVE A BLASTING DAY🙏

☀️ MORNING UPDATES 🗞️
📗 LAST DAY'S SUMMARY  💯

   Equity benchmark indices entered into a consolidation mode after a two-day rally, with the Nifty50 closing a tad below the 19,800 mark with moderate losses on October 12. The index remained in the range of 19,750-19,850 for yet another session, hence the decisive breakout on either of these ranges can give clear direction to the market going forward, experts said.The BSE Sensex fell 65 points to 66,408, while the Nifty50 dropped 17 points to 19,794 and formed a bearish candlestick pattern with minor upper and lower shadows, which resembles the Spinning Top kind of pattern on the daily charts, indicating indecisiven -  ess among bulls and bears about future market trend.

NIFTY (19,794.00)

The key support levels for the Bank  Nifty are  placed at 19,700.40  followed by 19,650.30 . On the upside, key resistance levels are placed  19,850.40 & 19,950.70 up levels.

BANK NIFTY (44,599.20)

The key support levels for the Bank  Nifty are  placed at 44,250.40  followed by 43,700.30 . On the upside, key resistance levels are placed  44,750.40 and 44,800.70 up levels.

STOCK RELATED NEWS FROM
LAST DAY


Maruti Suzuki : The country's largest car manufacturing company said the board of directors will be meeting on October 17 to consider the issue of equity shares of the company to Suzuki Motor Corporation on a preferential basis. The consideration of issuance of equity shares will be other than cash, for the acquisition of a 100 percent equity stake of Suzuki Motor Corporation in Suzuki Motor Gujarat Private Limited.

SJVN : Subsidiary SJVN Green Energy has received the Letter of Award (LOA), at a tariff of Rs 2.62 per unit, for the development of a 100 MW solar power project from Rajasthan Urja Vikas Nigam (RUVNL) in Rajasthan. The solar project will be developed on a build, own, and operate (BOO) basis. The tentative cost of development of this project is around Rs 600 crore.

IRCON International : The Department of Public Enterprise has granted the Navratna Status to IRCON. IRCON will be the 15th Navratna amongst the CPSEs.

One 97 Communications : The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 5.39 crore on Paytm Payments Bank, part of mobile payment company Paytm, for non-compliance with Know Your Customer (KYC) norms.

📊 RESULTS ON 13TH OCT 💯

HDFC Life Insurance Company, Aditya Birla Money, Tata Steel Long Products, Den Networks, Sai Silks (Kalamandir), Som Distilleries & Breweries, Gala Global Products, Gujarat Hotels, Hathway Bhawani Cabletel & Datacom, Premier Capital Services .

💰 FIIs & DIIs DEALS  💴

Foreign institutional investors (FII) sold shares worth Rs 1,862.57 crore, while domestic institutional investors (DII) bought Rs 1,532.08 crore worth of stocks on October 12.

News Alerts 🔔🔔🔔🔔🔔

Sept retail inflation at 3-mnth low of 5.02%; Aug IIP growth rises to 10.3%
India’s retail inflation rate fell below the Reserve Bank of India’s (RBI’s) upper tolerance level of 6 per cent for the first time in three months in September, while industrial production growth accelerated to a 14-month high in August, providing some relief to the government on the macroeconomic front ahead of the festival season. The data released by the National Statistical Office (NSO) on Thursday showed that the Consumer Price Index (CPI)-based inflation eased to 5.02 per cent year-on-year in September from 6.8 per cent in August on account of a moderation in prices of vegetables, cereals, clothing and footwear, housing, and services. Separately, the country’s industrial output, as measured by the Index of Industrial Production (IIP), grew by 10.3 per cent Y-o-Y in August compared to 6.02 per cent in July, driven by a low-base effect and robust growth in the power (15.3 per cent), mining (12.3 per cent), and manufacturing (9.3 per cent) sectors. Last week, the Monetary Policy Committee (MPC) of the RBI had unanimously kept the repo rate unchanged at 6.5 per cent for a fourth consecutive policy review and maintained the “withdrawal of accommodation” stance. The central bank had also retained its forecast for retail inflation at 5.4 per cent for FY24. However, it revised upwards its inflation forecast for Q2FY24 to 6.4 per cent from 6.2 per cent, and downwards for Q3FY24 to 5.6 per cent from 5.7 per cent.

IMF calls for urgent support from members to increase its quota resources
As part of its “Global Policy Agenda” unveiled at Marrakesh, the International Monetary Fund (IMF) has called for urgent support from members to increase its quota resources and to secure funding for the Poverty Reduction and Growth Trust (PRGT) and Resilience and Sustainability Trust (RST) to benefit the poorest members. The PRGT and RST are concessional lending facilities of the IMF. However, while the PRGT is available to low-income countries that are eligible for the IMF’s concessional financing for poverty reduction, the RST is a newer facility, established in 2021, to help low-income and vulnerable middle-income countries build resilience to climate change and other external risks. “To be able to continue support for our poorest and most vulnerable EMDEs (emerging market and developing economies), we rely on our economically stronger members to close the remaining subsidy funding gap for the PRGT. To date, more than $40 billion in resources has already been pledged to the RST, and — pending a successful review of the RST — we encourage members to scale up their efforts, including by raising the ambition of economically stronger members beyond the target of rechanneling 20 per cent of the 2021 SDR (special drawing rights) allocation,” the report said.

PE investments in Indian real estate dip 12% to $2.3 billion in H1
The flow of private equity (PE) money into Indian real estate declined by 12 per cent year-on-year (Y-o-Y) to $2.3 billion in April-September 2023 (H1FY24) from $ 2.7 billion in the same period last year. The decline in flows tracked overall lower investments in the residential sector, according to real estate banking advisory firm Anarock Capital. The flows have remained below the pre-pandemic level of $4.2 billion in H1FY20. During the first wave of the Covid-19 pandemic, PE investments had declined to $1.5 billion H1FY21. Later, investments rose to touch $2 billion in H1FY22. Equity investments continued to be the preferred route for investors in H1FY24, said Shobhit Agarwal, managing director and chief executive officer, Anarock Capital. The share of equity rose to 89 per cent in H1FY24 from 78 per cent in H1FY23. The top 10 deals accounted for 95 per cent of the total value of PE investments in H1FY24 compared to 81 per cent in H1FY23.

Commodities Play
Gold – Rs 57906/10gm, Silver – Rs 69576/kg, Brcrude – Rs 7229/barrel, Natural gas – Rs 281/mmBtu, Copper – Rs 707/kg.

Short Term Trade 🎉✈️
NCC cash @162.5
TGT 170-176++
Long term tgt 188-199++
SL @Known_To_All

🕉 ॐ नमः शिवाय: 🕉

🕉 ॐ नमः शिवाय: 🕉

🕉 ॐ नमः शिवाय: 🕉

Good Morning🙏
Namaste🙏
Assalamu alaikkum🙏
Sat Sri Akaal🙏
Kem Cho🙏
Shubo Sakal🙏
Subha Prabhata🙏
శుభోదయం🙏
ಶುಭೋದಯ🙏
శుభోదయం మిత్రులారా🙏
🙏HAVE A BLASTING DAY🙏

☀️ MORNING UPDATES 🗞️
📗 LAST DAY'S SUMMARY  💯

   The market is expected to take support at 19,600, which somewhat coincides with the 50-day EMA (exponential moving average) in coming sessions as breaking of the same can trigger major correction, while the 19,800-19,850 area is likely to be critical for march upwards towards 19,900-20,000 levels . On October 13, the market managed to cut down losses by more than 100 points on the Nifty50 and settled off day's low, holding the 19,750 on closing and taking support at 19,600 intraday.

NIFTY (19,751.05)

The key support levels for the Bank  Nifty are  placed at 19,700.40  followed by 19,6300.30 . On the upside, key resistance levels are placed  19,850.40 & 19,900.70 up levels.

BANK NIFTY (44,287.95)

The key support levels for the Bank  Nifty are  placed at 44,050.40  followed by 43,700.30 . On the upside, key resistance levels are placed  44,500.40 and 44,750.70 up levels.

STOCK RELATED NEWS FROM
LAST DAY

Tata Motors : The commercial vehicle major has entered into share purchase agreements with certain investors for sale of 9.9 percent stake in its subsidiary Tata Technologies for Rs 1,613.7 crore. TPG Rise Climate SF Pte Ltd, a climate focused private equity fund, is buying a nine percent stake in Tata Technologies, and Ratan Tata Endowment Foundation acquiring 0.9 percent stake, from Tata Motors.

Avenue Supermarts : The Mumbai-based company that owns and operates D-Mart stores, has recorded a 9.2 percent on-year decline in consolidated profit at Rs 623 crore for quarter ended September FY24, impacted by lower margin and high base. In Q2FY23, the profit was supported by lower tax costs. Revenue from operations grew by 18.67 percent year-on-year to Rs 12,624 crore.

Adani Enterprises : The Ministry of Corporate Affairs, Hyderabad, has initiated investigation of books of accounts and other books and papers of Mumbai International Airport (MIAL) and Navi Mumbai International Airport (NMIAL), step-down subsidiaries of Adani Enterprises. The Ministry of Corporate Affairs sought information and documents pertaining to the prior period starting from 2017-18 to 2021-22. Adani Enterprises completed acquisitions of MIAL and NMIAL during the year's financial year 2021-22.

Bajaj Electricals : The company has received a supply of services worth Rs 564.2 crore from Power Grid Corporation of India for and on behalf of its SPV (special purpose vehicle) Ananthpuram Kurnool Transmission.

Tata Steel Long Products : The Tata Group company's net loss for the quarter ended September FY24 narrowed to Rs 135.8 crore, from Rs 333.4 crore in year-ago period despite lower topline, aided by lower input cost. Revenue from operations

📊 RESULTS ON 13TH OCT 💯

HDFC Bank, Jio Financial Services, Federal Bank, CEAT, ICICI Securities, Bank of Maharashtra, NELCO, Yatra Online, Choice International, Cyient DLM, Indbank Merchant Banking Services, Jai Balaji Industries, Nath Bio-Genes, Oriental Hotels, Selan Exploration .

💰 FIIs & DIIs DEALS  💴

Foreign institutional investors (FII) bought shares worth Rs 317.01 crore, while domestic institutional investors (DII) sold Rs 102.88 crore worth of stocks on October 13.

News Alerts 🔔🔔🔔🔔

New angel tax regime: No scrutiny of recognised startups, says CBDT
The Central Board of Direct Taxes (CBDT) has issued directives to tax officials that may prevent them from scrutinising funds raised by recognised start-ups under the new angel tax regime. In a recent communiqué to senior officials, the direct tax administration said that no verification would be done by any assessing officer if a start-up has been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) and the case is selected under scrutiny for pending angel tax assessment. It said the applicability of angel tax would not be pursued during the assessment proceedings of such recognised start-ups and the assessing officer shall be duty-bound to accept the argument of such a firm and drop the proceedings. The angel tax is on the amount received by a company above the fair market value as income. The clarification concerns pursuing applicability of angel tax on registered startups in view of the new norms.

Export contraction narrows in September; govt sees 'green shoots'
The government on Friday claimed signs of revival in India’s outbound shipments as contraction of goods exports narrowed to 2.6 per cent in September and the commerce department revised the August exports data upwards, leading to a 3.9 per cent growth from the 6.9 per cent contraction estimated earlier. According to the data released by the commerce department, imports in September contracted at a faster pace than exports, at 15 per cent, leading to a narrowing of the trade deficit to $19.4 billion during the month. Commerce Secretary Sunil Barthwal said the government believed that September’s data was signalling the beginning of “optimism”. “There are green shoots. For the remaining six months (in FY24), there should be positive growth in our exports…The weekly trend in October is positive,” Barthwal said in a media briefing. A Sakthivel, president, Federation of Indian Export Organisations (FIEO), said with both the US Federal Reserve and the UK central bank pausing interest rates, the exports demand was expected to rebound from October onwards. “Further, with the economic outlook for Asia and the Pacific remaining upbeat, demand may pick up from these regions and countries also,” he added.

Commodities Play
Gold – Rs 60450/10gm, Silver – Rs 74100/kg, Brcrude – Rs 7267/barrel, Natural gas – Rs 270.20/mmBtu, Copper – Rs 698.25/kg.

Corporate News
Adani to pump in Rs 20,000 cr for 4x boost in ports capacity by 2030
.
Tata Motors rides Jaguar Land Rover on road to turn net cash positive.

Review of Resource Management Group issue completed, action taken: TCS

Gift Nifty indicates positive start to Indian markets trading at 19727 levels up by 0.14% or 27 points.

CMP 164.5
Near 1st target 🎉✈️
Running profit of Rs 2/- per share..
💰💰💰💰💰🎉🎉🎉🎉🎉✈️✈️✈️✈️✈️

🕉 ॐ नमः शिवाय: 🕉

Good Morning🙏
Namaste🙏
Assalamu alaikkum🙏
Sat Sri Akaal🙏
Kem Cho🙏
Shubo Sakal🙏
Subha Prabhata🙏
శుభోదయం🙏
ಶುಭೋದಯ🙏
శుభోదయం మిత్రులారా🙏
🙏HAVE A BLASTING DAY🙏

☀️ MORNING UPDATES 🗞️
📗 LAST DAY'S SUMMARY  💯

   The market consolidated in a narrow range throughout the session before ending with moderate losses and also remained within the previous day's trading range on October 16. For the Nifty50, 19,700 which coincides with the 20-day EMA (exponential moving average) can be an immediate support followed by 19,600, whereas on the higher side, 19,800-19,850 will remain a key resistance area for further upside going ahead, experts said, adding the market may be awaiting the speech by the Federal Reserve Chair Jerome Powell later this week.The BSE Sensex fell 116 points to 66,167, while the Nifty50 declined 19 points to 19,732 and formed a Doji or High Wave kind of candlestick pattern on the daily scale, indicating the indecisiveness among bulls and bears about the future market trend.

NIFTY (19,751.05)

The key support levels for the Bank  Nifty are placed  is  placed at 19,700.40  followed by 19,6300.30 . On the upside, key resistance levels are placed  19,850.40 & 19,900.70 up levels.

BANK NIFTY (44,287.95)

The key support levels for the Bank  Nifty are placed  is  placed at 44,050.40  followed by 43,700.30 . On the upside, key resistance levels are placed  44,500.40 and 44,750.70 up levels.

STOCK RELATED NEWS FROM
LAST DAY

Jio Financial : The financial services company has registered healthy growth for the quarter ended September FY24, with profit rising 101.3 percent quarter-on-quarter to Rs 668.18 crore and revenue from operations growing 46.8 percent QoQ to Rs 608.04 crore. Meanwhile, the board has appointed AR Ganesh as Group Chief Technology Officer of the company with effect from October 16.

CEAT : The tyre company recorded consolidated profit at Rs 208 crore for the quarter ended September FY24, increasing significantly compared to Rs 7.8 crore in the same period last year, supported by healthy operating numbers with a fall in input cost. In Q2FY23, profit was also impacted by an exceptional loss of Rs 23.7 crore. Revenue from operations grew by 5.5 percent YoY to Rs 3,053.3 crore for the quarter.

Cyient DLM : The electronic manufacturing services and solutions company has reported a massive 106.4 percent on-year growth in profit at Rs 14.6 crore for the quarter ended September FY24, driven by other income and topline. Revenue from operations surged 71.5 percent YoY to Rs 291.8 crore for the quarter.

KEC International : The RPG Group company has secured new orders worth Rs 1,315 crore across its various businesses including transmission & distribution projects in India, the Middle East, Australia and the Americas.

Tata Power : Subsidiary Tata Power Renewable Energy has signed a power delivery agreement (PDA) with auto component manufacturer Endurance Technologies through a special purpose vehicle (SPV) TP Green Nature, for the development of 12.5MW AC captive solar plant. The plant will be set up at Aachegaon in Maharashtra and will generate 27.5 million units (MUs) of electricity every year.

📊 RESULTS ON 17 TH OCT 💯

Bajaj Finance , Can Fin Homes , ICICI Pru , HSCL , L&T Tech , TATA Elxsi ,  Hathway Cables .

💰 FIIs & DIIs DEALS  💴

Foreign institutional investors (FII) sold shares worth Rs 593.66 crore, while domestic institutional investors (DII) bought Rs 1,184.24 crore worth of stocks on October 16.

News Alerts 🔔🔔🔔🔔

Govt mulling another PLI scheme for batteries to bring down cost: Singh
The government will bring out another production-linked incentive scheme for batteries to bring down cost and boost the adoption of electric vehicles in India, union minister R K Singh said on Monday. Speaking at the EV (electric vehicles) Ready India Dashboard of OMI Foundation, the Union Power and New & Renewable Energy Minister said, "We are coming out with another production-linked incentive (PLI) to increase the volumes (of storage or battery)." He was of the view that the price of storage will come down with (higher) volumes. "The price of storage will come down only if you add volumes. That is why there is a production-linked incentive (PLI) for storage," he said. He pointed towards limited battery manufacturing capacity in the world and termed it as a reason for high prices. The minister opined that higher cost and lower driving range are issues in adopting EVs. The central government had approved the (PLI) scheme for manufacturing advanced chemistry cell (ACC) batteries at an estimated outlay of Rs 18,100 crore in May 2021, with an objective to attract foreign and domestic investment of Rs 45,000 crore.

India, UK holds first '2+2' foreign & defence dialogue to boost cooperation
The inaugural India-UK '2+2' foreign and defence dialogue on Monday saw the two sides focusing on ways to boost cooperation in a range of key areas such as trade and investment, defence, critical technologies, civil aviation, health and energy. At the senior official-level dialogue, the two sides also discussed international developments including in the Indo-Pacific region and considered the possibility of enhancing anti-terror collaboration, according to the Ministry of External Affairs (MEA). The 2+2 dialogue at senior official level is a mechanism to discuss and review all aspects of India-UK comprehensive strategic partnership. The dialogue took place as the two sides are exploring the possibility of a visit to India by British Prime Minister Rishi Sunak later this month.

Wholesale inflation hits 6 months high in Sept but stays in negative
India’s wholesale price index (WPI)-based inflation touched a six-month high of -0.26 per cent in September, even as it remained in negative territory for the sixth consecutive month, data released by the ministry of commerce and industry on Monday showed. The continuing deflation in factory gate prices comes on the back of a high base and a sharp deceleration in food prices. It is also because of the continued contraction in the prices of fuel and manufactured products like mineral oils, textiles, basic metals, chemicals and chemical products, compared to the corresponding month of the previous year. Earlier in August, the wholesale inflation rate had stood at -0.52 per cent and it was 10.55 per cent in September last year.

Commodities Play
Gold – Rs 60825/10gm, Silver – Rs 71053/kg, Brcrude – Rs 7242/barrel,  Natural Gas – Rs 261.8/mmBtu, Copper – Rs 700.5/kg.

Corporate News
NCLT has considered SBI petition for withdrawal: Bajaj Hindusthan Sugar.

Grasim Industries to raise Rs 4,000 crore through rights issue of shares.

Jio Financial Services' net profit doubles sequentially in Sept quarter.

HDFC Bank's bad loan jumps, margin narrows post-merger, Q2 profit up 50.6%.

Gift Nifty indicates flat start to Indian markets trading at 19805 levels down by 6 points or 0.03%.