The Nifty 50 index closed lower after giving up morning gains. The index formed a bearish candle. Analysts suggest the index needs to hold above 24150 for a potential uptrend towards 24350 and 24500. Support levels are at 24150 and 24000. Options data indicates a trading range between 23700 and 24700.

Hyundai Motor is attracting attention from global brokerage firms like JPMorgan and Morgan Stanley, both giving it an ‘Overweight’ rating. They predict substantial returns for investors, setting target prices of Rs 2,200 and Rs 2,418 respectively. Hyundai’s strong SUV and EV portfolio, coupled with India’s growing auto market and premiumization trend, positions it for success.

Axis Securities has given a buy call for Va Tech Wabag stock, setting a target price of Rs 1,860, a 10% increase. The company’s Q2 results show improved total income and profits. Va Tech Wabag is focusing on higher-profit projects and improving its product mix for better margins and long-term sustainability.

We usually do not take big cash calls. In our existing Flexicap fund, the usual cash levels are 1 to 5%. We had about 7% cash and have deployed much of it in the fall. We were however fortunate as we just collected monies in our smallcap NFO, which we substantially deployed this month.

Shares of Anil Ambani-led Reliance Power are likely to attract attention on Wednesday after the Delhi High Court granted the company relief by staying the SECI notice of debarment against it. The court’s order also applies to all of the company’s subsidiaries, except Reliance NU BESS Limited (formerly Maharashtra Energy Generation Limited), according to the company’s exchange filing.