“We believe oversold positions may now lead to some consolidation in the Nifty, with strong support around the 24,400–24,500 zone and resistance placed at 24,800–25,000. In the meantime, participants should focus on selective stock opportunities aligned with sectoral trends while keeping position sizes under check,” said Ajit Mishra – SVP, Research, Religare Broking.
In today’s trade, shares of L&T, M&M, Tata Motors, Reliance Power, BEL among others will be in focus due to various news developments.
L&T
Larsen & Toubro announced securing a Sustainability-Linked Trade Facility (SLTF) worth $700 million from Standard Chartered. The SLTF is tied to specified key performance indicators (KPI) such as the intensity of greenhouse gas emissions and fresh-water withdrawal, and targets that are crucial to L&T’s business operations.
M&M
Mahindra and Mahindra (M&M) announced that it has entered into a share purchase agreement with Tera Yatirim Teknoloji Holding Anonim Sirketi (TERA) to sell its entire stake in Sampo Rosenlew Oy. Consequent to completion of the aforesaid transaction, SAMPO would cease to be a wholly owned subsidiary of Mahindra and Mahindra.
Premier Energies
Homegrown Premier Energies announced securing multiple solar contract worth $19.95 million (around Rs 177 crore) Republic of Benin, West Africa. These projects are part of a national initiative by the Government of Benin to expand access to reliable, sustainable clean energy, Premier Energies said in a statement.Reliance Power
Reliance Power said it has signed an agreement to sell its entire stake in five Indonesian coal entities for a total consideration of $12 million. The Indonesian subsidiaries contributed no income in the last financial year and accounted for 0.53% of Reliance Power’s consolidated net worth, valued at Rs 169 crore.Thomas Cook India
Omnichannel travel company Thomas Cook (India) said it has partnered with the Ministry of Tourism (MoT) to enhance destination experiences throughout India. A Memorandum of Understanding (MoU) was signed in this regard, which aims to gather direct, real-time traveller feedback to assess and recognise India’s best-performing tourism destinations and identify areas for improvement.
BEL
Navratna defence PSU, Bharat Electronics Ltd (BEL) has secured additional orders worth Rs 1092 crore in the last 15 days. Major orders received include EW System Upgrade, Defence Network Upgrade, Tank Sub Systems, TR Modules, Communication Equipment, EVM, Spares, Services etc
IRFC
IRFC inked a Rs 5,929 crore term loan agreement with Haryana Power Generation Corporation Ltd for 800 MW Yamunanagar Proiect. The company also signed an agreement with Maha Genco for Rs 10,560 crore funding of Koradi thermal expansion project.
Tata Motors
Moody’s Ratings downgraded Tata Motors’ outlook to negative from positive following a cyber attack on its British arm Jaguar Land Rover which has led to a complete production halt. The rating agency affirmed the Mumbai-based auto major’s Ba1 corporate family rating (CFR). The cyber incident at JLR highlights the customer relations risk captured under social risk considerations within the ESG framework, and is the key driver of the rating action.
as a Reliable and Trusted News SourceGodrej Agrovet
Capital markets regulator Sebi has issued an administrative warning letter to Godrej Agrovet for violations linked to delayed disclosures in its indirect acquisition of Astec Lifesciences.