5 Momentum Stocks for the Day – 5paisa Morning Updates | IPO Updates | Stock in News | 02nd Sept

In this video, we have spoken about Market Outlook for the Day. Watch this video to know more.

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Nifty Outlook:
Nifty finds important support around 16950 while 17250 will act as resistance.

Bank Nifty:
Bank Nifty finds support around 36200 while 36850 will act as resistance.

5 Momentum Stocks for the Day
Cash Delivery (Holding Period 7-10 Days)
1. UBL: Buy = 1543, SL = 1490, Target = 1660
2. PNCINFRA: Buy = 338, SL = 326, Target = 364
3. ASIANPAINT: Buy = 3306, SL = 3250, Target = 3440
4. SBILIFE: Buy = 1220, SL = 1190, Target = 1290
5. RADICO: Buy = 881, SL = 865, Target = 925

Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial

Stock in News:
Coal India: Coal India has initiated the process of retrofitting Liquefied Natural Gas (LNG) kits in its dumpers. The move is expected to save around Rs 500 crore annually and provide a push to reduce the company’s carbon footprint.

ONGC: ONGC has abandoned its underground coal gasification (UCG) project. It cited the low calorific value of syngas, low gas price, and unavailability of business partners as the reasons behind the move.

Exide: Exide Industries is looking to set up the first lithium ion battery cell manufacturing facility in India called Advance Cell Chemistry Project or ACC.

IPO Updates:
Ami Organics IPO and Vijaya Diagnostics IPO are open for subscription between September 1 and 3, 2021.

Ami Organics:
Ami Organics IPO was subscribed 1.90 times at the end of Day 1 of bidding. It received bids for 1.24 crore shares against an offer of 65 lakh shares.

Bidding details at the end of Day 1:

Retail Individual Investors: 2.82 times the reserved portion
Non-Institutional Investors: 0.40 times the reserved portion
Qualified Institutional Buyers: 1.39 times the reserved portion

Vijaya Diagnostic:
Vijaya Diagnostic IPO was subscribed 0.30 times at the end of Day 1 of bidding. It received bids for 74.7 lakh shares against an offer of 2.50 crore shares.

Bidding details at the end of Day 1:

Retail Individual Investors: 0.46 times the reserved portion
Non-Institutional Investors: 0.01 times the reserved portion
Qualified Institutional Buyers: 0.23 times the reserved portion
Employees: 0.24 times the reserved portion

FII and DII data:
Foreign institutional investors (FIIs) net bought shares worth Rs 666.66 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 1,287.87 crore

Disclaimer: The above report is compiled from information available on the public platforms.

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The post 5 Momentum Stocks for the Day – 5paisa Morning Updates | IPO Updates | Stock in News | 02nd Sept appeared first on Correct Success.