CENTRUM

STI UPDATE : Book Partial Profit; Buy NSE FUTSTK VOLTAS 30JAN2025 @ 1681.50 Qty 50% & TRAIL SL TO COST FOR REST

STI: Buy NSE EQUITIES NAUKRI EQ @ 8670.00;Target of 9282.00; Stop Loss @ 8370.00

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STI: Buy NSE EQUITIES INDHOTEL EQ @ 868.00;Target of 930.00; Stop Loss @ 837.00

Disclaimer: https://centrumbroking.com/Policies/ra_disclaimer.pdf

ITI:Buy NSE OPTIDX NIFTY 26DEC2024 23850.00 CE @ 79.00;Target of 170.00; Stop Loss @ 31.00

Disclaimer: https://centrumbroking.com/Policies/ra_disclaimer.pdf

ITI UPDATE : Stop Loss Triggered; Buy NSE FUTSTK CDSL 26DEC2024 @ 1824.00

STI: Buy NSE EQUITIES DELHIVERY EQ @ 360.00;Target of 390.00; Stop Loss @ 347.00

Disclaimer: https://centrumbroking.com/Policies/ra_disclaimer.pdf

POSITIVE NEWS FOR IGL MGL

Oil Ministry re-submits a proposal to reduce central excise duty on CNG; proposal seeks excise duty cut on CNG from 14% to 7%

STI: Sell NSE FUTSTK VOLTAS 26DEC2024 @ 1680.00; Target of 1610.00; Stop Loss @ 1721.00

Disclaimer: https://centrumbroking.com/Policies/ra_disclaimer.pdf

ITI: Sell NSE FUTSTK CDSL 26DEC2024 @ 1806.00; Target of 1720.00; Stop Loss @ 1824.00

Disclaimer: https://centrumbroking.com/Policies/ra_disclaimer.pdf

STI: Buy NSE EQUITIES JIOFIN EQ @ 306.00;Target of 330.00; Stop Loss @ 298.00

Disclaimer: https://centrumbroking.com/Policies/ra_disclaimer.pdf

*Market Outlook for 24-Dec-2024*

*Good Morning*


Nifty in yesterday's session opened with a gap-up move. The index took resistance near its 200 DMA, which supported sluggish movement. The index closed on a positive note forming a Doji pattern. Immediate support is near 23500 levels while resistance is near 24000. The Gift Nifty is trading flat with 7 points negative. The index is still below all key moving averages (10, 20, 50, and 100-day EMAs).

BankNifty gave a gap-up move while forming a bullish Harami candle on the daily time frame. The banking index outperformed the Nifty. A break above 51600 will add bullishness for the index to rally near 52000 levels.

Global Market

Asian stocks edged up on Tuesday, though moves were subdued in a holiday-curtailed week, while the greenback held near a two-year high helped by elevated U.S. Treasury yields as investors prepared for fewer Federal Reserve rate cuts in 2025. US stocks finished Monday's session higher despite a batch of mixed economic data, with the Dow rising for the third straight day as indices continue their attempted recovery from last week's sell-off. Oil prices were up on Tuesday in thin trade ahead of the Christmas Day holiday, with prices supported by U.S. economic data and rising oil demand in India, the world's third-largest oil importer.

*Long build-up*

IGL, JKCEMENT, LODHA, COROMANDEL, & LUPIN

*Short build-up*

JSWENERGY, APLAPOLLO, SUPREMEIND, CYEINT & SONACOMS


*Option Data*

FII’s long-short ratio dipped to 30% from 31%
NIFTY PCR inched to 0.84 from 0.80
BANKNIFTY PCR inched to 0.59 from 0.52
India’s VIX dipped 10% to 13.52

As per OI data, max CE writing was seen near 23800, 24000 & 25000 levels while on the PE side, max writing was seen near 23500, 23700 & 23800 levels.

*Securities in Ban For Trade Date 24-DEC-2024:*

1 BANDHANBNK
2 GRANULES
3 HINDCOPPER
4 MANAPPURAM
5 RBLBANK

*Fund Houses Recommendations*


Elara on *HAL:* Maintain Buy on Company, target price at Rs 5465/Sh (Positive)

Elara on *BEL:* Maintain Buy on Company, target price at Rs 345/Sh (Positive)

Phillip on *BEL:* Maintain Buy on Company, target price at Rs 340/Sh (Positive)

Nuvama on *Real Estate Sector:* Top picks among real estate developers: *Prestige* and *Brigade*. (Positive)

Nuvama on *Defense stocks:* Top picks among sector: *BEL* and *Data Patterns*. (Positive)

Jefferies on *Telecom:* Impact of tariff hike normalizes. *Bharti and Reliance Jio* continue to gain market share (Positive)

Jefferies on *Aviation stocks:* India's domestic air pax growth jumped to 12% YoY in Nov-24 (Positive)

Elara on *BDL:* Downgrade to Accumulate on Company, raise target price at Rs 1300/Sh (Neutral)

Elara on *GR Shipbuilders:* Maintain Accumulate on Company, target price at Rs 1660/Sh (Neutral)

MS on *SBI Cards:* Maintain Equal weight on Company, target price at Rs 650/Sh (Neutral)

Phillip on *Solar Ind:* Maintain Neutral on Company, target price at Rs 12000/Sh (Neutral)

Phillip on *BDL:* Maintain Neutral on Company, target price at Rs 1400/Sh (Neutral)

*Stocks in News*


*Oberoi Realty:* Company said it has executed a development agreement for an 81.05-acre land parcel in Alibaug, Maharashtra (Positive)

*Whirlpool:* Company and *PG Electroplast* join hands to contract manufacture select Whirlpool Branded Semi-Automatic Washing Machines. (Positive)

*Websol Energy:* Company will add 600 MW cell production capacity at its Falta plant. (Positive)

*HG Infra:* Arm HG Banaskantha Bess signs battery energy storage purchase agreement with NTPC Vidyut Vyapar Nigam for procurement of 185 MW/ 370 MWH on long term basis (Positive)

*Bansal Wire:* Company launched its new Product in the name of Hose Wire (Brass Coated Hose Reinforcement Wire) (Positive)

*Greaves:* Greaves Electric Mobility files DRHP with SEBI, NSE & BSE for IPO. (Positive)

*Crompton Greaves Consumer:* Company launched a new high-speed induction product named High speed Festo on December 23, 2024 (Positive)

*Aurionpro Solutions:* Company expands into Europe with €10 million acquisition of Fenixys (Positive)

*Vraj Iron:* Company has received consent to operate for expansion project of Sponge kon and Power Plant located at Village Dighora, Chhattisgarh (Positive)

*MIC Electronics:* Competent Authority approves capacity cum capability assessment for GPS location based Public Address & Passenger Information System and LED Destination Boards in AC & Non-AC ICF & LHB Coaches. (Positive)

*Yatharth Hospital:* Noida Extension, is the first in Uttar Pradesh to earn JCI accreditation, signifying world-class healthcare standards. (Positive)

*Alankit Ltd:* Company settled a dispute with Protean eGov Technologies Ltd. for ₹38.06 Cr. (Positive)

*IndiGo:* November Market Share At 63.6% Vs 63.3% (MoM) (Positive)

*Royal Orchid:* Launch of Regenta Evolife Dome City for Mahakumbh 2025. (Positive)

*ASTERDM:* Dr. Nalanda Jayadev has been appointed as a Senior Management Personnel of the Company in the capacity as Chief Executive Officer (Neutral)

*HCG:* Block deal likely worth Rs 1000 Cr (15% of equity) (Neutral)

*Indian Bank:* Central Bank Of Sri Lanka (Financial Intelligence Unit) imposes penalty of Sri Lankan Rupees (LKR) 2 million on the bank (Neutral)

*NAVA:* Company approved stock split of 1 equity share into 2 shares, with corresponding amendments to the MOA and AOA. (Neutral)

*Kirloskar Bros:* Mr Ravish Mittal resigned as CFO from 23rd Dec 2024. (Neutral)

*Power and Instrumentation Ltd:* Company will increase its shareholding in Peaton Electricals Company Ltd from 15% to 60%. (Neutral)

*Aimico Pesticides:* Company has decided to invest AUD 10,000 in Aimco KREPL Australia PTY LTD, the Company shall become the Wholly Owned Subsidiary of the Company. Neutral)

*Mahindra & Mahindra Financial Services:* Company Board Meeting on Jan 28 to Consider Q3 Results. (Neutral)

*Macrotech Developers:* Company allotted ₹300 Cr in secured NCDs. (Neutral)

*TVS Motor:* Company completes acquisition of 39.11% stake in DriveX (Neutral)

*Dr Reddy:* Board meeting will be held on Thursday, January 23 to consider and approve the Unaudited Financial Results of the Company. Dr. Reddy's Laboratories Expands with New Subsidiary in Finland (Neutral)

*Bharat Forge:* Company to infuse $64.50 m in arm Bharat Forge America Inc. (Neutral)

*Muthoot Capital:* Company announced the resignation of three key members from its board of directors, effective December 23, 202 (Neutral)

*Zaggle Prepaid:* Company approves allotment of 1.1 crore shares aggregating to Rs 594.8 crore via QIP. (Neutral)

*Muthoot Microfin:* Thomas Muthoot, MD of company hands over reins of Muthoot Pappachan Group to son Thomas Muthoot John. (Neutral)

*MMTC:* Company said it received warning letters from the NSE and the BSE on December 20, 2024. (Negative)

*Goodyear India:* Company's Ballabgarh plant temporarily closed Dec 23-30, 2024, for maintenance and demand adjustment. (Negative)

*Ramky Infrastructure:* Company received a warning letter from the NSE for non-compliance with SEBI LODR regulations. (Negative)

Flows in Cash Market on 23- December-2024 👇

👎FII net sold ₹169 cr
👍DII net bought ₹2227 cr

STI UPDATE : Book Partial Profit; Buy NSE FUTSTK PEL 26DEC2024 @ 1084.00 Qty 50% & TRAIL SL TO COST FOR REST

STI: Sell NSE FUTSTK PEL 26DEC2024 @ 1094.00; Target of 1055.00; Stop Loss @ 1111.00

Disclaimer: https://centrumbroking.com/Policies/ra_disclaimer.pdf

STI: Buy NSE EQUITIES KOTAKBANK EQ @ 1755.00;Target of 1830.00; Stop Loss @ 1719.00

Disclaimer: https://centrumbroking.com/Policies/ra_disclaimer.pdf