Nifty futures surged higher and were trading 137.50 points or 0.88 per cent up at 15,825.50 on Singaporean Exchange. Market participants will first react to IIP and CPI inflation data, that were released post market hours. Moreover, investors will watch first-quarter earnings of FY22, stock-specific development, pace of vaccination drive, new delta variant of COVID, rupee movement against US dollar and crude oil prices. Technical analysts say that for almost 27 days, the market has been consolidating within the trading range of 300 points, which is remarkable and indicates a make or break in the near term. “The Nifty/Sensex would go to the level of 15500/15450 (51600) after dismissal. The 15700/52400 and 15780/52700 levels, on the other hand, would be the main levels of resistance,” Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, said.
Stocks to watch
Info Edge: Zomato IPO will open for anchor investors on July 13. The issue would open for subscription for public on Wednesday, July 14, at the price band of Rs 72-76 per share. Naukri.com’s parent company, Info Edge holds a stake of about 18.55 per cet in the food delivery platform.
RIL: Reliance Industries Ltd has invested Rs 1 lkah in cash in 10,000 equity shares of Rs 10 each of Reliance New Energy Solar Limited, a newly incorporated wholly owned subsidiary. RNESL is incorporated to undertake activities relating to solar energy. RNESL is yet to commence its business operations.
Airtel, Vodafone, RIL: Reliance Jio continued to lead the market in mobile subscriber additions as it gained 4.7 million users in April even as troubled Vodafone Idea lost 1.8 million customers during the same period, as per the latest TRAI data. Bharti Airtel added just 0.51 million mobile subscribers in April.
Tatva Chintan Pharma Chem: Tatva Chintan Pharma Chem Ltd has fixed a price band of Rs 1,073-1,083 a share for its Rs 500-crore IPO. The public issue will open on 16 July and close on 20 July. It comprises fresh issue of shares worth Rs 225 crore and an offer of sale (OFS) worth Rs275 crore by existing promoters and shareholders.
Bank stocks: Armed with Supreme Court order, banks may invoke personal guarantees of tycoons ranging from Venugopal Dhoot to Kapil Wadhawan to recover unpaid loans from their delinquent firms, sources said Monday. According to an estimate, top 10 personal guarantors have guaranteed debt of over Rs 1.6 lakh crore.