New Delhi: Market has been on record breaking spree, the equity indices touching historic highs last week. While the Sensex had breached the crucial 79,000 mark, Nifty too clocked 24,000. Nifty and Sensex have jumped 7 percent in June.
Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd said, “Technically, Nifty has found resistance near the 24,200 levels, and failed to close above the trend line resistance. If the index sustains above 24,200 levels, then the rally could extend towards 24,500-24,600 levels in the short term.”
Meanwhile, ahead of the market opening today, as per Zeebiz Auto stocks, NTPC, TVS Motor, Pharma stocks, Bank of Baroda are likely be in focus today.
1. GAIL
State-owned GAIL (India) Ltd has said that the construction of the Rs 12,940-crore ‘Urja Ganga’ gas pipeline, has been delayed by nine months and will now be completed by March 2025.
2. Auto Stocks
Companies from Tata Motors to Ashok Leyland –will release their monthly sales numbers today.
3. TVS Motors
TVS Motor Company Limited has informed the regulators that it has subscribed to and has been allotted further 68,94,335 equity shares of Rs. 10/- each in TVS Credit Services Limited. The cost of subject investment viz. Rs. 282.67 Cr exceeds the threshold specified in sub-clause (c) of clause (i) of Regulation 30 (4) of the SEBI LODR.
4. Bank of Baroda
Board of Directors is scheduled to be held on 05th July 2024 inter-alia to consider & approve the Capital Plan for FY 2024-25 by way of raising funds through Additional Tier 1 and Tire 2 Debt Capital Instrument with an interchangeability option, the bank has informed regulators.
5. NTPC
NTPC has informed the regulators that the Board of Directors of the Company has, in its meeting held on Saturday, 29th June, 2024, subject to approval of shareholders, approved the issue of secured/ unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures (“Bonds/NCDs”) up to Rs.12,000 Crore in one or more tranches/series not exceeding 12 (twelve), through private placement in domestic market during the period commencing from the date of passing of special resolution till completion of one year thereof or the date of next Annual General Meeting in the financial year 2025-26, whichever is earlier. The Size, tenure, listing details (BSE and/or NSE), Coupon, Security (if applicable) and other details as applicable will be decided at the time of issue of each tranche/series.