Weekly Trading Diary: 26th February to 1st March 2024

Tradingqna · February 26, 2024, 12:26pm

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

Benchmark indexes started the week on a down note, closing sharply lower on weak global cues driven by geopolitical concerns. US futures are showing mixed trends.

Brent Crude: 80.50 -1.37%
USD INR Spot: 82.877 -0.01%.
India 10Y Bond yield: 7.062 -0.20%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Bharat Forge was the top gainer.

Alkem Laboratories was the top loser.

News

Tata Passenger Electric Mobility, a Tata Motors subsidiary, eyes a $1–2 billion IPO for its electric vehicles business. The recent $1 billion funding round from TPG highlights growing investor interest.

Culver Max Entertainment and Sun TV Networks are in talks to acquire a strategic stake in Aha, the South Indian streaming platform, potentially valuing it at Rs 1,500-2,000 crore. KPMG Corporate Finance serves as Arha Media’s strategic adviser.

Reliance Industries aims to set up over 50 compressed biogas plants costing Rs 5,000 crore in the next two years, with plans for 100 plants within five years, per oil industry sources cited by the Economic Times.

Adani Group’s overseas loan share decreased to 61% by September as foreign loans were partially repaid and older loans refinanced, while the share of Indian lenders rose to 39%. Additionally, the group attracted bond investments in the secondary market.

HDFC Bank gains RBI approval to sell a 90% stake in HDFC Credila Financial Services to ChrysCapital and BPEA EQT. The divestment aligns with HDFC’s agreement to transfer its majority ownership to private equity firms.

teenscm · February 27, 2024, 2:47am

The Zerodha dashboard is incorrect. Kotak did not fell 4.59% as per the screenshot shared in the previous post.
Please see the NSE quote

@nithin @ShubhS9

Meher_Smaran · February 27, 2024, 2:57am

Hi @teenscm

Will check this with the team. Thanks for reporting

Tradingqna · February 27, 2024, 11:57am

Benchmark indexes ended the day with a nearly 0.4% increase, snapping a two-day losing streak. Dow and Nasdaq futures indicate a muted start for US markets.

Brent Crude: 81.31 -0.44%
USD INR Spot: 82.895 0.02%.
India 10Y Bond yield: 7.07 0.10%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

ICICI Lombard General Insurance was the top gainer.

Vodafone Idea was the top loser.

News

Ford Motor plans an India return, emphasizing hybrid and electric vehicles, potentially manufacturing them at its Chennai plant. Collaboration with a local partner like Tata Group is being considered, with a reported patent application for the EcoSport SUV.

The Coca-Cola Company’s global chairman and CEO, James Quincey, will lead a 220-member leadership team on a significant visit to India, a top priority market for the company’s growth.

Russian luxury hotels, previously managed by global brands like Ritz Carlton, Four Seasons, and Park Hyatt, seek Indian hospitality firms such as Tata Group’s Indian Hotels and East India Hotels to take over operations post-brands’ exit due to the Ukraine invasion.

India’s leading lenders, including State Bank of India, HDFC Bank, and Axis Bank, are retracting capital commitments to private equity and venture capital funds to comply with recent regulations. The Reserve Bank’s directive requires banks and NBFCs to divest investments in AIFs linked to debtor companies.

Vodafone Idea mulls equity raise from new investors, risking dilution for existing shareholders like Vodafone Group, Aditya Birla Group, and the Indian government. Board to meet next Tuesday for fundraising decision, adding to Rs 2,000 crore pledged by promoters.

Prasad_H · February 28, 2024, 1:13am

Why are you not giving the time series chart of stocks above 50 and 200 EMA for Nifty 50, Nifty 500, Nifty MidCap 150, Nifty SmallCap 250?
Like you used to give earlier in your weekly trading diary

ShubhS9 · February 28, 2024, 2:40am

Just experimenting with a different format. Noted your feedback

Prakashsingh · February 28, 2024, 3:16am

This expiry has been very confusing.

2 days to go and market can go anywhere but bias is towards long side till 22100 is not breached

Tradingqna · February 29, 2024, 12:58pm

Benchmark indexes closed with slight gains after bouncing back in the last hour, despite negative global cues. Futures on the Dow and Nasdaq are trading lower.

Brent Crude: 81.95 -0.24%
USD INR Spot: 82.914 0.02%.
India 10Y Bond yield: 7.078 0.18%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Berger Paints India was the top gainer.

Apollo Hospitals Enterprise was the top loser.

News

Bharti Group aims to divest from non-core sectors like insurance, food, and skills to focus on the digital transformation of Airtel. Additionally, they plan to strengthen Africa operations, payments bank, and satellite broadband, seeing Elon Musk’s Starlink as formidable competition.

Renewable energy provider Suzlon secures a 30 MW wind power project order from EDF Renewables. The project in Gujarat involves installing 10 Wind Turbine Generators with a rated capacity of 3 MW each.

Coal India’s shares rose nearly 1 percent on the NSE on February 29 after signing a joint venture agreement with BHEL to establish an ammonium nitrate plant, as part of its coal-to-chemical business.

Reliance and Walt Disney inked a deal to merge their media operations in India, forming a ₹70,352 crore media giant. Viacom18’s media arm will merge into Star India through a court-approved scheme.

Reliance Consumer Products, the FMCG arm of Reliance Retail, has teamed up with Sri Lanka’s Elephant House to introduce the brand in India. Through this collaboration, Reliance Consumer will produce, market, distribute, and sell Elephant House beverages nationwide.

Tradingqna · March 1, 2024, 12:28pm

Nifty and Sensex both set new highs and closed with strong gains of around 1.7%, followed by impressive GDP data. US futures indicate a mixed start.

Brent Crude: 83.06 1.4%
USD INR Spot: 82.902 -0.01%.
India 10Y Bond yield: 7.067 -0.16%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Steel Authority of India was the top gainer.

ICICI Lombard General Insurance was the top loser.

News

India’s GDP surged by 8.4% in Q3 FY 2023-24, exceeding expectations and maintaining momentum with growth rates surpassing 8% in the two prior quarters, showcasing remarkable economic resilience.

SoftBank reduced its stake in One 97 Communications, the parent company of Paytm, to under 3% by selling a 2.17% stake, following an earlier sale of around 2% in January prior to the Reserve Bank’s crackdown, reported by the Hindu Businessline.

State-owned construction firm NBCC (India) Ltd announced the sale of 2.05 lakh square feet of commercial space in the World Trade Centre in Delhi for approximately Rs 828 crore, as disclosed in a regulatory filing.

Servotech Power Systems Ltd announced securing a Rs 111-crore order from Indian Oil Corporation and other original equipment manufacturers for the supply of 1,400 DC fast chargers.