Nifty rally may hit a hurdle around 17,550
Nifty has seen a rally of 15% from mid-June low of 15,183 to this week’s high of 17,490 in the last 7 weeks. It has reached key resistance and retracement level in the region of 17,400-17,490 and is facing resistance.
Fear over IPO Street eases, Syrma SGS issue’s the 1st offer after 80 days
Aether Industries’ IPO, which closed on May 26, was the last issue of 2022. Between January and May this year, 16 companies including LIC raised ₹40,310 crore compared to ₹1.19 lakh crore raised by 63 companies in 2021.
Tata Motors to buy Ford Gujarat plant for Rs 750 crore
The takeover of the Gujarat plant will offer much-needed capacity for Tata Motors, which has set its sights on crossing half a million annual sales this financial year, up from 370,400 in FY22. The company is currently operating at 85-90% capacity and to sustain this momentum it will need fresh capacity.
Maruti sourcing local Li battery packs for export, home use in hybrid buildup
A resolution on related party transactions in the FY22 annual report shows Maruti will export battery packs to Suzuki’s European subsidiary Magyar Suzuki and the amount will not exceed ₹1,500 crore in a financial year for the period beginning from FY23 to FY25. The peak value of export will be realised in the third year […]