Weekly Trading Diary: 11th March to 15th March 2024

[Tradingqna]

Welcome to the weekly trading diary, a thread for discussing your trades, strategies, ideas, news, stories, etc.

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Benchmark indexes concluded the first trading session of the week on a bearish note due to negative global market cues, coupled with a drop in Tata Group and banking stocks. US futures are trading lower.

Brent Crude: 81.77 -0.38%
USD INR Spot: 82.748 -0.01%.
India 10Y Bond yield: 7.015 -0.23%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Interglobe Aviation was the top gainer.

Tata Chemicals was the top loser.

News

Coal India aims to explore opportunities for establishing 4,100 MW projects through a joint venture company, covering various areas such as pit-head thermal power and solar projects, as per a recent regulatory filing.

Rail Vikas Nigam Limited (RVNL) announced on March 9 that it has received an order from Madhya Pradesh Metro Rail Corporation to design and construct an elevated viaduct, along with 5 elevated metro stations and a ramp.

Adani Green Energy (AGEL) announced the operationalization of 1,000 MW of the 30,000 MW Khavda renewable energy park in Gujarat, bringing its operational capacity to 9,478 MW. AGEL aims to reach 45,000 MW by 2030.

Torrent Power shares surged 12.5% to reach an all-time high of Rs 1,287.5 per share following the company’s acquisition of a 306 MW solar project in Maharashtra for Rs 1,540 crore.

Sun Pharma is recalling approximately 55,000 bottles of Febuxostat Tablets, used to treat gout, from the US market due to deviations from manufacturing practices norms, as per the USFDA’s latest Enforcement Report.

[Tradingqna]

Benchmark indexes reversed from the day’s high and closed the volatile session flat as investors awaited U.S. consumer price data. US futures are trading lower.

Brent Crude: 82.77 0.68%
USD INR Spot: 82.782 0.06%.
India 10Y Bond yield: 7.024 0.14%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Balkrishna Industries was the top gainer.

DLF was the top loser.

News

British American Tobacco plans to sell its 4% stake in ITC within two weeks, priced at Rs 380-390 per share, a 5-8% discount to Monday’s close. The sale involves around 499 million shares worth Rs 20,000 crore ($2.4 billion).

The Adani Group plans to bid for the remaining stake held by the Airports Authority of India in the Mumbai International Airport, according to Karan Adani, the managing director of Adani Ports and Special Economic Zone, as reported by Mint newspaper.

InterGlobe Aviation promoter Rakesh Gangwal has sold shares worth Rs 6,785 crore in open market transactions, offloading 2.25 crore shares of IndiGo, representing a 5.83 percent stake, as reported by Business Standard.

Tata Power Solar Systems commissioned a 100 MW solar PV project with 120 MWh utility-scale battery energy storage systems in Rajnandgaon, Chhattisgarh, after securing the Rs 945 crore project from Solar Energy Corporation of India Ltd in December 2021.

[tallerballer]

How is this a trading diary, it’s just news and stats no?

[yolotrader]

Earlier ppl used to share trading thoughts and ideas for d day. Dunno y ppl stopped

ill share frm nw

[Tradingqna]

Benchmark indices fell 1.5% due to selling pressure in Mid & Small-cap stocks and concerns about delayed US rate cuts, dampening investor sentiment. US futures show mixed trends.

Brent Crude: 83.05 1.38%
USD INR Spot: 82.841 0.06%.
India 10Y Bond yield: 7.039 0.19%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

ITC was the top gainer.

National Aluminium Company was the top loser.

News

India’s mutual funds are set to release their first stress test reports, offering insights on investor concentration and turnover ratios, especially in small and midcap funds, as well as volatility metrics like standard deviation and beta, in line with AMFI’s guidelines.

Flipkart is preparing to launch thousands of dark stores in major cities to support a quick-commerce service, collaborating with entrepreneurs and grocery stores without owning the stores directly.

India’s vegetable oils import dropped 13% year-on-year in February to about 9.75 lakh tonnes, as reported by the Solvent Extractors’ Association of India (SEA), with February’s imports totaling 9,74,85 tonnes compared to 11,14,481 tonnes the previous year.

Vedanta shares dropped nearly 1% after SEBI ordered it to pay Cairn UK Holdings Rs 77.62 crore plus 18% annual interest for a dividend delay, with Vedanta planning legal steps and foreseeing no major impact.

Maruti Suzuki aims to transport more vehicles by rail to lower costs and emissions, investing over Rs 1081 crore in India’s first in-plant railway siding in Gujarat, with plans for similar setups in Manesar and Kharkhoda, Haryana.

[tallerballer]

Forum became more for support and less for ideas I guess

[Tradingqna]

Benchmark indexes rose from the day’s low to close higher, driven by Fitch Ratings’ upward revision of India’s GDP forecast. US futures are trading higher.

Brent Crude: 84.75 0.86%
USD INR Spot: 82.824 -0.03%.
India 10Y Bond yield: 7.043 0.06%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Hindustan Copper was the top gainer.

Axis Bank was the top loser.

News

Biocon’s unit, Biocon Biologics, will sell its Indian branded formulations businesses to Eris Lifesciences for 12.42 billion rupees ($150 million), as announced in separate exchange filings by the companies.

Ministry of Heavy Industries, with Finance, unveils ₹500 crore Electric Mobility Promotion Scheme 2024 (EMPS 2024) to bolster EV adoption in India. The scheme runs from April 1 to July 31, 2024, prioritizing electric two and three-wheelers, fostering EV manufacturing.

Adani Green Energy has operationalized 126 MW of a 300 MW wind power project in Gujarat, in addition to the previously operationalized 174 MW capacity. The project aims to produce 1,091 million electricity units annually, cutting about 0.8 million tonnes of CO2 emissions per year.

Blue Star plans to invest Rs 250 crore in the next financial year to expand room air conditioner manufacturing capacity at its Sri City facility in Andhra Pradesh, with a current production capacity of 10 lakh units.

Larsen & Toubro (L&T) secures a significant gas pipeline project in the Middle East, involving EPC for two new pipelines alongside existing ones. The project is awarded to L&T Energy Hydrocarbon - LTEH, marking a substantial development in the company’s hydrocarbon vertical.

[Tradingqna]

Benchmark indexes dipped over half a percent, primarily due to declines in oil & gas, automobile, and IT stocks, amid mixed cues from global markets. US futures are trading lower.

Brent Crude: 84.83 -0.69%
USD INR Spot: 82.876 -0.11%.
India 10Y Bond yield: 7.058 0.24%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Aditya Birla Fashion and Retail was the top gainer.

Hindustan Petroleum Corp was the top loser.

News

Larsen and Toubro Technology Services surged over 2% to Rs 5,385 after securing an Rs 800 crore order to deliver advanced cyber security solutions for Maharashtra, in collaboration with KPMG Assurance and Consulting Services LLP as a forensics partner.

NHPC has won a 200 MW solar project at Gujarat State Electricity Corporation’s renewable energy park in Khavda, Gujarat. The project was awarded via an e-reverse auction conducted by GUVNL on March 2, 2024, with the Letter of Intent issued on March 14, 2024.

NPCI approved Paytm’s request to join UPI as a Third-Party Application Provider (TPAP), allowing continued payment facilitation after the closure of its banking unit, Paytm Payments Bank, mandated by the RBI by March 15.