Morning Update (11-10-2024) :
#NIFTY50 : Nifty witnessed selling at higher levels yesterday and ended the day flat while FIIs were still net sellers. Following global cues, our view is neutral for today. It has support at 24700.
BANK NIFTY: Bank Nifty rose outperformed the broader markets and rose by more than 1%. Our view is neutral for today. It has support at 51200.
Nifty 50
Support Level : 24700
Resistance Level : 25200
Bank Nifty
Support Level : 51200
Resistance Level : 52100
Result corner
- Tata Consultancy Services Ltd. Q2FY25 consolidated revenues rise by 7.06% YoY to ₹64,998 cr and net profits rise 5.0% YoY to ₹11,909 cr
- Tata Elxsi Ltd. Q2FY25 consolidated revenues rise by 8.3% YoY to ₹955 cr and net profits rise by 14.7 YoY to ₹229 cr
Key results today: JUSTDIAL , HATHWAY and more.
Stocks in news
- MAZDOCK Company has received an order worth Rs 122 crore from the Maharashtra State Power Generation Co. or MAHAGENCO. The Rs 122 crore order includes the supply, installation, and commissioning of an AI-based comprehensive infra secure project at two of its facilities.
- KRSNAA Company said it has secured two agreements with the Ranchi Institute of Neuro-Psychiatry & Allied Services (RINPAS) and the Medical Superintendent of Sadar Hospital, Ranchi.
- NBCC Company's Subsidiary inked a contract worth Rs 1000 crore from Gondwana University for campus development.
- ENDURANCE Company's capex for greenfield project approved, plans to set up new facility to manufacture alloy wheels for two wheelers; planned Capex for facility is Rs 3 billion.
- BANDHANBNK Former IOB Chief Partha Pratim Sengupta named new MD and CEO of Bandhan Bank.
- ACTIVE Company has entered into a manufacturing agreement with Adidas India Marketing Private Limited as a T-1 supplier, expanding its customer base.
- ZYDUSLIFE Company said it has received final approval from the US health regulator to manufacture its generic version of Paliperidone extended-release tablets, used to treat schizophrenia.
- PURVA Company's bookings fall 17% to Rs 1,331 crore despite strong housing demand.
- SUZLON Company won a 400 megawatt (Mw) order from JSP Green Wind 1, a special-purpose vehicle of Jindal Renewables, to decarbonize steel production.
- SENCO Company in advanced talks to buy Melorra as it takes a shine to e-commerce.
- JSWSTEEL Company signs agreement with BHP to deploy carbon capture technology for steelmaking decarbonization.
- OLAELEC The Ministry of Heavy Industries has called for an audit of Ola Electric's service centers for delayed and unsatisfactory after-sales service and inaccurate invoices.
Quick Takeaways
-UNDP to partner with India to boost manufacturing and sustainable development.
-Asian equities are trading in green zone with the hope of stimulus from China during tomorrow’s press conference on economic measures.
-Housing prices surge across key cities in Q3 2024.
F&O Stocks in Ban : Bandhan Bank Ltd., Birlasoft Ltd., Chambal Fertilisers and Chemicals Ltd., Granules India Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Ltd., Hindustan Copper Ltd., IDFC First Bank Ltd., Manappuram Finance Ltd., Punjab National Bank, RBL Bank Ltd., Steel Authority Of India Ltd., Tata Chemicals Ltd.