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Nifty could extend its gains as momentum remains strong with technical charts suggesting a positive bias. If the Index crosses and sustains above the 24,200 level, the momentum could push it towards 24,500-24,600. Analysts recommend stocks such as Reliance, ICICI Bank, LIC Housing Finance, Grasim, Praj Industries, Biocon, Cipla, Apollo Tyres, Tata Motors, and BEL for the week. RAJESH PALVIYA HEAD TECHNICAL DERIVATIVES, AXIS SECURITIESWhere is the Nifty headed? The index has formed a long bullish candle on weekly chart, engulfing the previous weekly candle and closing above the previous week’s high, indicating a positive bias. The chart pattern suggests that if Nifty crosses and sustains above 24,200, it would likely witness buying, leading the index towards the 24,500-24,600 levels. Conversely, if the index breaks below 23,900, it would likely witness selling, pushing it towards the 23,800-23,600 levels. What should Investors do? Stocks expected to show bullishness include Reliance, ICICI Bank, LIC Housing Finance, Grasim, Praj Industries, Biocon, Apollo Tyres, Tata Motors, and BEL. Consider a moderately bullish strategy using a Bull-Call Spread for the July 4 weekly expiry. This involves purchasing one lot of the 24,100 strike Calls at a premium of Rs 134 and selling one lot of the 24,400 strike Calls at a premium of Rs 35. If Nifty closes above 24,199 on expiry, the strategy will begin making a profit. While the risk is limited here, so are potential profits.APURVA SHAH HEAD OF MARKET RESEARCH, SAMCO SECURITIESWhere is Nifty headed next week? Nifty crossed the lifetime high and a psychological mark of 24,000 last week. With this, the index has recorded 24 new all-time high closings in 2024. The bulls have a firm grip on the index and don’t seem in any mood to let it go in July, which is the best month for markets. In 9 out of the last 10 years, the index has closed on a positive note with an average gain of 3.3%, which is the highest among all months. The index has broken out of a broadening megaphone pattern which indicates higher levels of 24,500 may be coming in July. However, on an immediate basis, the index is likely to consolidate and may even give up some of the recent gains and slip lower to the 50% retracement support of 23,762, drawn from the low of 23,350 to the high of 24,174. What should investors do? Investors should follow a buy-on-dips approach. One can go long at 23,762-23,664 with a stop loss at 23,500 for a target of 24,500. Prefer stocks from the mid-cap universe like KPIT Tech, Gulf Oil Lubricants, CE Info Systems and Mahindra Logistics for trading.RAHUL SHARMA HEAD- TECHNICAL & DERIVATIVE RESEARCH, JM FINANCIAL SERVICESWhere is the Nifty headed this week? Nifty formed a large bullish engulfing candle on weekly charts and closed the week and month on a thumping note above the 24,000 mark. Nifty options chain is suggesting open interest concentration at 24,000 Puts and 24,500 Calls, while the Put-Call ratio, which was overheated at 1.49 on Friday, cooled off to 1.17. We, however, advise caution on fresh longs as risk reward is diminishing at higher levels. We expect Nifty to broadly enter into two months of time correction once the current momentum dies out in the next few days. Support levels are 23,985 and 23,665, with resistance at 24,175 and 24,500. What should Investors do? Investors are advised to start taking profits in areas where markets have outperformed recently, like private banks. Positive on PSUs and pharma. Buy Cipla at Rs 1,480. The stock saw a strong support area at Rs 1,465. Buy Tata Motors at Rs 990 with a stop loss at Rs 948.

Prague: The Volkswagen Group's wholly-owned Indian subsidiary, Skoda Auto Volkswagen India, has made "great progress" in talks for a potential equity partnership with an Indian company.But even as it is banking on a collaboration to share costs and risks and gain from the sourcing, engineering, competence of the local partner, it is also open to the idea of continuing its operations solo, said a top executive at Skoda Auto, which leads the India operations on behalf of the Volkswagen Group and its brands. VW Group brands in India include Skoda, Volkswagen, Audi, Porsche and Lamborghini.The group's next phase of investment in India will hinge on the final call the company takes on the matter, Klaus Zellmer, CEO Skoda Auto, said in an interaction with the Indian media. The Volkswagen Group had announced an investment of ₹1 billion in a Skoda-led India project in 2018."We are talking to multiple partners in India. They have the local competencies, and they are much closer to the market. We have made great progress but can't divulge anything. We are looking at an equity partnership. Someone who can help in engineering, sales, and procurement competency. While we are not forced to enter a partnership, this is something I personally find very attractive," said Zellmer.The VW Group is looking for a collaboration amid the government's push on electric vehicles, stricter carbon emission regulations which require substantial investments and heightening competition in India's car market where Skoda remains at the fringes with a less than 3% share despite over two decades of presence. This also comes against the backdrop of Skoda identifying India as the second most crucial market outside Europe amid a go-slow approach in China and its exit from Russia. India, meanwhile, will also serve as an export hub for Asean and Middle East markets for the group."Skoda Auto is leading the India operations on behalf of the Volkswagen Group and its brands. To fully explore the country's growth potential, we are always considering new business opportunities and are evaluating various options to ensure the best possible solution to implement our strategy in the highly dynamic Indian market," he said.Without indicating a specific time frame within which the company will take a call on the partnership, Zellmer said the Indian unit will have to have battery electric vehicles in its portfolio to compensate for the CO2 limit as a run-up to the implementation of advance carbon emission regulations in India in 2027-28. Given the long development cycle of 36 months, there's no time to relax, he noted.Automakers in India will need to cut carbon emissions by a third over the next three years or face stiff penalties under the third iteration of the Corporate Average Fuel Efficiency Norms (CAFE) drawn up by the Bureau of Energy Efficiency. The CAFE-3 rules will come into effect from April 2027.(The reporter was in Prague on an invitation from Skoda Auto)

India's warehousing sector is seeing increasing adoption of solar power, driven by cost savings, environmental benefits as well as supportive government policies.The move towards renewable energy is not just a response to global environmental concerns but also a strategic business decision for many warehouse operators seeking to reduce operational costs and enhance sustainability.Warehousing developers and operators, including Allcargo Group, Horizon Industrial Parks, Mahindra Logistics, Amazon India, and Flipkart, are incorporating solar energy into their logistics facilities and supply chain infrastructure.For instance, logistics player Allcargo Gati has solarised more than 10 facilities spread across Maharashtra, Karnataka, Telangana, Madhya Pradesh, Haryana, and Punjab. The company has a total footprint of 10 million sq ft."We aim to enhance solar capacity by solarising an additional five locations in Bhiwandi, Nagpur, Bengaluru, Indore and Farukhnagar by next year," said Sushil Kumar Rathi, director, Allcargo Supply Chain, an Allcargo Group company. "This will add 500 kWp of solar capacity to our existing installed capacity of over 680 kWp. The group's solarisation initiatives are a testament to its vision of achieving carbon neutrality by 2040."These moves not only indicate the feasibility of solar power in warehousing but also set a precedent for others in the industry. 111386056Blackstone's logistics platform Horizon Industrial Parks has also taken steps in making rooftop solar power available at all operational parks. It has current operational and near-term planned capacity of more than 25 MW across 12 operational parks and it plans to add at least 10 MW of solar capacity annually."Currently, 20% of the total energy consumption requirements of the tenants at Horizon Industrial Parks is met by solar energy. We expect this to increase to 30-35% in the next 12-18 months, and our endeavour will be to increase it further, subject to favourable state-level renewable energy policies," said Urvish Rambhia, principal at Blackstone Real Estate India.According to him, by providing customers with on-site solar rooftop power, Horizon Industrial Parks hopes to contribute to a large part of their renewable energy requirement at its sites. Horizon Industrial Parks, along with its affiliates, manages 24 industrial and logistics parks spread across over 1,700 acres, and with an area of 42 million sq ft, which are in 10 key markets in India.The government has been promoting renewable energy through incentives and policies. Programmes like the National Solar Mission aim to establish India as a global leader in solar energy. Subsidies, tax breaks and grants are available for businesses that invest in solar power, making it a financially viable option.Additionally, some states offer net metering policies, allowing businesses to sell excess power back to the grid, further enhancing the financial benefits.A primary motivator for the shift in warehouses is cost savings. Warehouses, which typically have large, flat rooftops, are ideal for installing solar panels.Adopting solar power aligns with the broader corporate responsibility initiatives that many companies are now prioritising.

The Board of Control for Cricket in India (BCCI) today announced Rs 125 crore for Team India for winning the ICC T20 World Cup.BCCI president Jay Shah announced this in a tweet, saying, "I am pleased to announce prize money of INR 125 Crores for Team India for winning the ICC Men’s T20 World Cup 2024. The team has showcased exceptional talent, determination, and sportsmanship throughout the tournament. Congratulations to all the players, coaches, and support staff for this outstanding achievement!"India lifted the ICC trophy on Saturday, defeating South Africal by just seven runs in a thrilling match in Barbados, ending an agonising 11-year wait for a global title. Batting first, India did well to post the highest total of 176 in a T20 World Cup final after being 34 for three. Later, India pacers provided two early wickets before a 58-run stand between opener Quinton de Kock (39 off 31) and Tristian Stubbs (52 off 27) put the Proteas back in the game. However, it was Klaasen's breath taking knock that almost stunned India.. Needing a wicket, Rohit Sharma did not turn to his lead pacer Jasprit Bumrah and went for Axar Patel in the 15th over in which Klaasen pounded couple of sixes and as many fours to singled-handedly take the game away from the opposition.The asking rate suddenly dropped to run a ball and it became South Africa's game to lose. Not known to keep their calm in pressure situations, South Africa made life tougher for themselves and needed 20 runs off the last 12 balls with David Miller and Keshav Maharaj in the centre. Bumrah, who had bowled a beauty to dislodge Reeza Hendricks in the powerplay, made an impact when he was eventually brought back for this remaining two overs, picking up a wicket and conceding only six runs off his final 12 balls.The equation came down 16 off the last six balls and on the first ball, Suryakumar Yadav took a sensational relay catch at the long-off boundary off Hardik to put India on the cusp of a thrilling victory.

Air India Express' cabin crew union has alleged unfair labour practices by the airline, including in issuance of charge sheets to its members, and sought the intervention of the labour commissioner to resolve the issues. The Air India Express Employees Union (AIXEU), which is affiliated with the Bharatiya Mazdoor Sangh, has written a letter to the Chief Labour Commissioner (Central) in this regard. The communication also comes at a time when conciliation proceedings are going on before the CLC (C) on the disputes between the cabin crew members and the airline management. The union has alleged that the management is adopting various measures that are not conducive to creating good industrial relations. "... their actions are spoiling the industrial relations already affected by their unfair labour practices and violations of labour legislation," it claimed in the letter dated June 28. There was no comment from Air India Express. Among other issues, the union has claimed that charge sheets have been issued to the cabin crew who had availed sick leave from May 6 to 8 and that enquiry is being initiated against selected union members. On May 7, around 200 cabin crew members of Tata Group-owned Air India Express went on strike to protest against the alleged mismanagement at the airline, resulting in the cancellation of hundreds of flights. Consequently, the airline management terminated the services of 25 cabin crew members and warned the others to join work or else face the same action. On May 9, the strike was called off after a conciliation meeting between the representatives of the union and the management convened by the CLC (C). The termination letters were also withdrawn later. In the letter on June 28, the union claimed that the issues had occurred "due to the monopoly and adamancy behaviour of the management" and sought the intervention of the CLC (C).