5 Momentum Stocks for the Day – 5paisa Morning Updates | IPO Updates | Stock in News | 03rd 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 17050 while 17300 will act as resistance.

Bank Nifty:
Bank Nifty finds support around 36450 while 37000 will act as resistance.

5 Momentum Stocks for the Day
Cash Delivery (Holding Period 7 – 10 Days)

1. VBL: Buy = 882, SL = 868, Target = 920
2. CUMMINSIND: Buy = 1040, SL = 1010, Target 1 = 1080, Target 2 = 1115
3. HAPPSTMNDS: Buy = 1488, SL = 1450, Target = 1560
4. INDIAMART: Buy = 8153, SL = 8000, Target = 8550
5. JUBLFOOD: Buy = 4116, SL = 4025, Target 1 = 4235, Target 2 = 4350

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:
Axis Bank: The RBI has imposed a Rs 25 lakh fine on Axis Bank for rule violations. RBI cited contravention of certain provisions of KYC norms as the reason behind the fine.

Dr Reddy’s: Dr Reddy’s Laboratories and Natco Pharma have launched the generic version of the cancer drug Revlimid in the Canadian markets.

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

Here are the highlights from day 2 of the IPOs:
Ami Organics:
Ami Organics IPO was subscribed 3.90 times at the end of Day 2 of bidding. It received bids for 2.55 crore shares against an offer of 65 lakh shares.

Bidding details at the end of Day 2:
Retail Individual Investors: 6.32 times the reserved portion
Non Institutional Investors: 1.51 times the reserved portion
Qualified Institutional Buyers: 1.43 times the reserved portion

Vijaya Diagnostic:
Vijaya Diagnostic IPO was subscribed 0.47 times at the end of Day 2 of bidding. It received bids for 1.18 crore shares against an offer of 2.50 crore shares.

Bidding details at the end of Day 2:
Retail Individual Investors: 0.74 times the reserved portion
Non-Institutional Investors: 0.05 times the reserved portion
Qualified Institutional Buyers: 0.32 times the reserved portion
Employees: 0.52 times the reserved portion

FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 348.52 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 381.70 crore

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

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