SpiceJet Ltd., Vodafone Idea Ltd., Adani Total Gas Ltd., Bharat Heavy Electricals Ltd., Tata Steel Ltd., Ramco Cements Ltd., Samvardhana Motherson International Ltd. will be the stocks in focus before going into trade on Monday.
Adani Total Gas said that it secured a funding of $375 million from international lenders to expand its city gas distribution network. This is the largest global financing in the CGD business, the company said.
Bharat Heavy Electricals received notification of award for a Rs 6,100-crore project from NTPC Ltd. The project is to be completed in two years from the date of notification of award.
Ramco Cement's cement grinding debottlenecking operations at its Andhra and Tamil Nadu plants has increased from 1.5 MTPA to 2 MTPA and 1.6 MTPA to 2 MTPA, respectively.
Tata Steel Ltd. said that it commissioned India’s largest blast furnace at Odisha's Kalinganagar. With the total investment of Rs 27,000 crore, the Phase II expansion will take the total capacity to 8 million metric tonnes per annum from 3 million metric tonnes per annum, according to an exchange filing.
Samvardhana Motherson raised Rs 4,938 crore through qualified institution placement and Rs 1,500 crore through 6.50% compulsorily convertible debentures.
The benchmark equity indices logged gains for a second consecutive week and hit new highs in four out of five sessions this week. On Friday, they tracked the gains in the US as well as other Asian markets and recorded fresh closing highs again.
The NSE Nifty 50 ended 375.15 points or 1.48% higher at 25,790.95, while the S&P BSE Sensex closed 1,359.51 points or 1.63% up at 84544.31.
NSE Nifty 50, is likely to touch 26,000 level amid the ongoing bullish momentum in the equity market, analysts said.
"Given the ongoing momentum, there is a possibility that 25,900-26,000 could be considered as potential target levels for Nifty in the upcoming week," said Osho Krishan, senior analyst - technical and derivatives at Angel One Ltd.
Sentiment on the Nifty has shifted "decisively towards the bullish side", supported by heavy put writing and strong buying across broader markets, added Dhupesh Dhameja, technical analyst at SAMCO Securities Pvt.
"With the index closing above previous week highs and breaking through the 25,500-25,600-resistance zone, a robust bullish structure is indicated," he said.
Ongoing bullish momentum is like to take Nifty towards 25,900-26,000 levels. On the upside, 26,000 will act as an immediate hurdle for Nifty, Hrishikesh Yedve said.
On the downside, 25,500 will serve as an immediate support for Nifty followed by 15-double exponential moving average support, which is placed near 25,300 levels, he said. As long as Nifty stays above 25,600, a "buy on dips" strategy is advisable for traders, the analyst further added.
"For Bank Nifty now, the current market texture is bullish. But due to temporary overbought conditions, we could see range bound activity in the near future," said Amol Athawale, vice president of technical research at Kotak Securities Ltd.
For traders, 53,400-53,000 would be the key support zones while 54500-54700 would act as crucial resistance areas for the bulls, he added.
Also Read: Nifty, Sensex End Record Week With Closing Highs As HDFC Bank, ICICI Bank Lead: Market Wrap
Here Are The Stocks To Watch On Monday
Vodafone Idea: The company has signed a $3.6 billion deal with Nokia, Ericsson and Samsung for the supply of network equipment over a period of three years. This is the first step in the company's Rs 55,000-crore capex plan.
SpiceJet: The airline's board approved issuance of 48.7 crore equity shares at an issue price of Rs 61.60 per share to raise Rs 3,000 crore via QIP.
Adani Total Gas: The company secured funding of $375 million from international lenders to expand its city gas distribution network.
Bharat Heavy Electricals: The company received an order worth Rs 6,100 crore from NTPC for an EPC package for the 1x800 MW Sipat Supercritical Thermal Power Project.
Dr Reddy's: USFDA inspected the Hyderabad R&D centre and closed with zero observations.
Tata Steel: The company successfully commissioned a blast furnace at Kalinganagar, Odisha. The company would invest Rs 27,000 crore in Kalinganagar's Phase II expansion, increasing the site's overall capacity from 3 MTPA to 8 MTPA.
Ramco Cements: The capacity of the company's cement grinding debottlenecking operations at its Andhra and Tamil Nadu plants has increased from 1.5 MTPA to 2 MTPA and 1.6 MTPA to 2 MTPA, respectively.
Samvardhana Motherson: The company raised Rs 4,938 crore via QIP.
Matrimony: The company will launch a new job business called 'ManyJobs' to focus exclusively on the grey-collar jobs market. The company is planning an initial launch for the Tamil Nadu market in both English and Tamil.
Mankind Pharma: The company approved raising up to Rs 10,000 crore via NCDs and commercial papers.
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