Reliance Industries Acquires a 74% Stake in Nauyaan Shipyard

BANGALORE, India - March 24, 2025 - PRLog -- Market Pulse: Confirmed Uptrend

On March 18, Nifty confirmed a follow-through day, advancing approximately 1.5% on higher volume compared to the previous session, signaling renewed strength in the market. Similarly, Sensex is up around 1.53% on volume higher than the previous session. As a result, Market status has shifted to Confirmed Uptrend. Market breadth continues to improve, with leading stocks across multiple sectors showing strong momentum.

In the current environment, stocks breaking out of early-stage bases, exhibiting higher relative strength, and backed by strong fundamentals are well-positioned for potential outperformance. Rather than speculating on market movements, we will closely track price action and adapt to evolving conditions.

However, should the distribution day count increase or Nifty breach key support levels, we may downgrade the market status to "Uptrend Under Pressure" to reflect heightened risk.

Buy Watchlist

Avanti Feeds, Kotak Mahindra Bank(Nse), Hdfc Bank, Icici Bank, Abbott India, Bajaj Finserv and view more

Key News & Earnings Updates

Reliance Industries has completed the acquisition of a 74% equity stake in Nauyaan Shipyard (NSPL) from Welspun Corp for Rs.382.73 crore.

Adani Energy Solutions Ltd Secures Rs.2,800 Crore Power Transmission Project in Gujarat.

Restaurant Brands Asia to raise up to Rs 500 cr via QIP, indicative issue price at Rs 60/share.

Godrej Properties acquires 10 acres of land in Bengaluru for residential development with an estimated revenue potential at Rs.2,500 crore.

Apollo Hosps.Enterprise subsidiary buys 11.2% stake in Keimed for Rs.625.23 crore.

What do you think? Please email (mailto:marketsmithindia@williamoneilindia.com?Subject=GIF...) us any questions or comments.

Disclaimer: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.