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Nifty PSU Bank (+11%) & more

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Nifty PSU Bank (+11%) & more

Tribe Daily

Tribe Wealth
Jan 1
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Nifty PSU Bank (+11%) & more

blog.investwithtribe.com

Market Summary

Nifty snapped three-week losing streak due to the strong performance of Nifty PSU Bank, Nifty Realty and Nifty Metal.


Companies

Tata Steel (+10%) rose after the company announced that it will be supplying high-end seating systems and paneling for the Vande Mataram Express. Hindalco (+10%) rose after China relaxed Covid-19 restrictions. SBI (+7%) rose due to high growth visibility, strong retail loans, asset quality, and pick-up in the corporate segment.


Sectors

Nifty PSU Bank (+11%) rose due to stupendous performance of IOB, JK Bank, Union Bank, Bank of Maharashtra and Canara Bank. Nifty Realty (+5%) rose due to strong performance of India Bulls Realty, Hemisphere, Phoenix Mills, Sobha and Oberoi Realty. Nifty Metal (+8%) rose due to strong performance of Welspun Corp, NALCO, Jindal Steel, SAIL and NMDC.


News of The Day

1.​​Bandhan Bank sold stressed loans to Asset Reconstruction Company for Rs 801 cr. (Mint)

2.HG Infra (+7%) rose after the company won projects worth Rs 997 cr. (Business Standard)

3.Lotus Chocolates (+5%) rose after Reliance Retail arm acquired a 51% stake in the company for Rs 74 cr. (Mint)

4.Solar Industries (+5%) rose due to a stable outlook. (Business Standard)

5.Tata Motors to acquire Ford India’s Gujarat plant by Jan 10. (Indian Express)


Tribe Weekly

  • January 02 Nikkei S&P Global PMI ( Purchasing Manager Index ) release

  • January 03 Karnavati Finance Ltd board meeting to discuss the stock split

  • January 04 IRB Infrastructure Developers Ltd board meeting to discuss stock split AMITINT & CPML results announcement

  • January 05 Supreme Infrastructure India Limited result announcement

  • January 06 Inox Green Energy Services board meeting to consider matters related to NCDs (Non-Convertible Debentures)


Market Sentiment


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