DSIJ Mindshare

The latest industrial production data, gauged by Index of Industrial Production (IIP) for the month of July came in at 4 per cent compared to 1.1 per cent in June 2019 and 6.5 per cent in July 2018.

On the downside, supports are seen around 10,800-10,850 levels. On the upside, Nifty needs to sustain above the 11,055 level to maintain its positive stance, but if it is unable to close above this level, we can consider this rally as a pullback from an oversold condition in a downtrend. Stocks in news: Ballarpur Industries, Dr Reddy’s Laboratories, Biocon, Gravita India.

At the time of writing, the SGX Nifty was up by 6 points trading at the 10,997 level.

The stocks to watch out for September 13 include Granules, Power Grid, OBC, L&T and Thomas Cook.

JM Financials on Thursday announced that the company has acquired 49,16,104 compulsorily convertible debentures (which are convertible into 4,91,61,040 equity shares as per the term of issue) of face value of Rs. 373 per share for cash aggregating Rs. 183.37 crore of JM Financial Asset Reconstruction Company Limited (JMFARC), a material subsidiary of the JM Financials.