Stock Market Update | 16 July 2024 Highlights | Keep Investing and Grow Your Wealth

Опубликовано: 17 Март 2025
на канале: Tutorials Website

Share Market Update 16 July 2024

ICICIBANK: Leadership Change Alert
ICICI Bank's drop along with HDFC Bank caused Bank Nifty and Bankex to fall over 300 points. Meanwhile, Pranav Mishra has joined Kotak Mahindra Bank as the Head of Distribution, leaving his position as Head of Liabilities, Deposit, Customer 360, Branch Banking, Marketing & Alliances at ICICI Bank.

IRCON: Budget Expectation Alert
Ircon International stock up 44% ahead of Union Budget presentation with higher capital spending on railways infrastructure expected to benefit the company.

IOC: Tender Alert
Indian Oil Corporation has received only two bids for its initiative to establish India's first green hydrogen plant at the Panipat refinery in Haryana, following the second attempt at tendering for the project. Some major engineering and Industrial gas firms that showed initial interest did not submit bids.

ADANIGREEN: Order Alert
Adani Green Energy among green energy stocks being aggressively pitched due to order book support.

RVNL: Inclusion and Order Alert
Rail Vikas Nigam Ltd is among the railway stocks in focus ahead of the Union Budget presentation. Higher capital spending on railways infrastructure may benefit RVNL, while it may also be included in the MSCI Global Standard Index next month.

NTPC: Budget Alert
NTPC is among the top stock picks recommended by JM Financial ahead of the budget due to hopes for enhanced incentives for renewable energy. Soni Patnaik, AVP of Derivative Research at JM Financial, also recommends a bull call spread strategy for July Series with a target of 410/425 and stop loss at 360 for NTPC.

TATAPOWER: Renewable Energy Alert
Tata Power shares trade higher with a bullish MACD bias amid hopes for enhanced incentives for renewable energy, which could benefit the company and other power ancillaries.

SUZLON: Renewable Energy Alert
Positive outlook for power ancillaries such as Suzlon Energy due to hopes for enhanced incentives for renewable energy.

VEDL: Fundraising Alert
Mining conglomerate Vedanta Ltd has launched a Qualified Institutional Placement, (QIP) offer to raise up to $800 million, with a base size of $600 million and a green shoe option of another $200 million. The QIP is aimed at reducing the company's net debt, which was Rs 56338 crore as of March 31, 2024. Brokerage firm Philip Capital has set a price target of Rs 552 on the stock.

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