Weekly Market Analysis for October 14-18, 2024

What happened last week?

Nifty traded with high volatility before closing last week at 24964.

It neither closed below 24870 nor above 25290.

Nifty did go below 24870, but for a short time only. This is indicative of aggressive buying around the zone. If there is a weekly close below 24870 zone, we can expect a further fall.

On the global front…

US and Japan were up by 2+%. China was down about 3%.

Some of you have asked how to buy the Chinese market. You can do so through the ETFs or Mutual Funds below from India. But I would not recommend buying China for the long term. High regulatory controls. Not that it won’t go up. But there are better places to invest if you want international exposure.

On the sectoral front…

IT and Pharma did well. They have been the best performers over the last three months.

FMCG and Energy were down by 2-3%.

FIIs sold ₹27674 Cr in the cash market last week.

FIIs sold ₹40500 Cr the previous week.

DIIs on the other hand bought ₹31363 Cr last week.

FIIs are still holding short positions in Index Derivatives and have closed down some more long positions in Stock Derivatives. FII sentiment is Bearish.

Nifty Sentiment Analysis…

If you look at the Weekly and Monthly Max Pain trend of Nifty below…

Both have been flat over last week. Participants were neither bullish nor bearish last week. We need to wait till the blue and the pink lines below start moving in a certain direction to take a directional view.

Key Upcoming Events

October 14 (Monday):

- India CPI Inflation Rate

- India WPI Inflation Rate

October 15 (Tuesday):

- Hyundai Motor IPO

October 18 (Friday):

- Chinese GDP Growth Rate YoY Q3

Key Stock Announcements Last week

New Orders & Projects:

• VPRPL wins INR 1,608.6 crore contract from North Western Railway.

• RCF awards INR 1000 crore contract to L&T for fertilizer plant.

• NBCC subsidiary secures INR 1000 crore Gondwana University project.

• G R Infraprojects wins INR 903 crore Nagpur Metro viaduct project.

• WABAG wins large order from Reliance for water treatment.

• PSP Projects receives INR 269.55 crore residential tower order at GIFT City.

• NBCC awarded INR 198 crore rooftop solar project at Bokaro Steel Plant.

• Torrent Power awarded 2,000 MW energy storage project by MSEDCL.

• RKEC Projects wins INR 186.68 crore contract for Mumbai jetty.

• ANI secures HR services contract from Engineers India, valued INR 173 crore.

• Aarvi Encon secures INR 1.73 bn manpower supply contract for 3 years.

• GGBL receives a work order from MSEDCL worth INR 139 crore.

• DPIL receives INR 109.39 crore order for power cable supply.

• RBM Infracon wins revised order worth INR 104.26 crore from L&T.

• GRSE receives order for hybrid electric ferries from West Bengal government.

• Service Care Limited signs MOU for managed office spaces.

• Orient Cement receives work order from MPPGCL for grinding unit.

• Agni Green Power received order for solar systems at 108 health centers.

• Sahaj Solar to establish 1.5 GW solar module production line.

• GRSE signs contract for 5th MPV worth USD 108 mn.

• Jiwantram Sheoduttrai receives order from R&B Group.

• Krishna Defence secures INR 88.41 crore order from Ministry of Defence.

• AGS Transact secures INR 50 crore contract extension with Indian Bank.

• NBCC wins INR 50 crore contract for Odisha sports complex.

• Aprameya Engineering awarded INR 29.85 crore Modular OT Complex contract.

• Sahaj Solar awarded INR 15.54 crore contract for BSF solar power plants.

• Univastu India awarded INR 14.14 crore contract for sports complex project.

Partnerships, Acquisitions & Investments:

• Jubilant Biosys acquires 80% of Jasmin, enhancing R&D capabilities.

• BLS International acquires 100% of Citizenship Invest, UAE.

• BLS International FZE acquires 99% stake in Mexican subsidiary.

• SAMHI Hotels acquires Innmar Tourism and Hotels for INR 205 crore.

• Electrosteel acquires Singardo shares, making it a wholly-owned subsidiary.

• Craftsman Automation partially acquires Sunbeam Lightweighting.

• Emami increases stake in Helios Lifestyles to 98.30%.

• SBI Mutual Fund acquires 5.0283% of MedPlus Health Services.

• Sheela Foam announces investment approval of INR 107 crore in House of Kieraya.

• Tata Technologies and BMW finalize their joint venture, BMW TechWorks India.

• iNube partners with Sonata Software to enhance digital insurance solutions globally.

• TVS Motor and Ecofy partner to offer financing for electric 3-wheelers in India.

• Mamaearth partners with Meesho, targets 100 crore ARR in Tier-3.

• Craftsman completes acquisition of Sunbeam.

• Exide Industries invests INR 99.9 crore in its subsidiary Exide Energy Solutions.

• JSW Steel, BHP, and Carbon Clean collaborate for large-scale carbon capture.

• Alkem partners with Sonnet to develop diabetic neuropathy drug in India.

• Lloyds Engineering to acquire Bhilai Engineering's engineering division.

Business Operations:

• Ashok Leyland launches electric trucks, delivering 180 units to BillionE.

• Puravankara Group acquires land in North Bangalore for residential development.

• Havells employees exercised 22,662 stock options under ESPS 2022 plan.

• SKF India explores demerger for automotive and industrial business separation.

• Infosys launches AI-powered trend report with Handelsblatt Research Institute.

• IRB reports 19% YoY growth in toll revenue for September.

• Happiest Minds launches Secureline360, AI-powered cybersecurity solution.

• UGRO Capital crosses INR 10,000 crore AUM milestone in Q2 FY25.

• Zydus Lifesciences receives USFDA approval for Paliperidone Extended-Release Tablets.

• Arvind SmartSpaces reports INR 500 crore bookings at Aqua City launch event.

• Intellect launches eMACH.ai Cloud for Wholesale Banking.

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Disclaimer: Anand Ganapathy K is a SEBI-registered Research Analyst with SEBI registration number INH000016630. This weekly update highlights market trends and upcoming events for your awareness. It does not recommend buying or selling stocks mentioned in this newsletter. Securities market investments carry market risks. Kindly review all related documents before investing.

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