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Kirloskar Ferrous Industries Ltd., incorporated in the year 1991, is a Small Cap company (having a market cap of Rs 6303.78 Crore) operating in Metals - Ferrous sector.

On September 6, the closing prices of four stocks dropped by more than 3% relative to the VWAP, and a shift below the VWAP suggests a potential bearish trend.

Oil futures surged by a dollar on Monday as a potential hurricane approached the U.S. Gulf Coast, and markets rebounded from a selloff due to weak U.S. jobs data. West Texas Intermediate crude rose 1.48% to $68.67 a barrel, while Brent crude increased 1.39% to $72.05 a barrel.

Vedanta and five other companies are in focus today as they have set September 10 as the record date for determining shareholders eligible for dividend payments. Vedanta announced a third interim dividend of Rs 20 per share for FY 2024-25. Other companies like DAPS Advertising, Manali Petrochemicals, MSTC Ltd, National Plastic Technologies, and Syrma SGS Technology also declared dividends.

Seven stocks, including Aditya Birla Fashion and Retail, Balrampur Chini, and Bandhan Bank, are under F&O trade ban on Monday. The ban occurs when open interest crosses 95% of market-wide positions limits. Indian benchmark indices Sensex and Nifty fell on Friday due to investor caution ahead of a key U.S. jobs report.

Kross IPO: Kross, a Jamshedpur-based company, is launching its Rs 500 crore IPO from Monday to September 11. The IPO includes a fresh equity sale and an offer for sale by promoters. The price band is set at Rs 228-240 per share. Proceeds will be used for debt repayment and growth funding.

Four SME IPOs are currently open for subscription, aiming to raise funds amid strong investor interest. Gajanand International, Share Samadhan, Shubhshree Biofuels Energy, and Aditya Ultra Steel are the companies involved. Each IPO has specific details regarding price, subscription dates, and investor allocation. The offerings close on September 11.

Furthermore, while 1QFY25 earnings were largely below expectations, we observe that earnings growth expectations for the remainder of FY25 is relatively higher. Any further disappointment in earnings growth could lead to a correction in the indices.

The Indian equity market experienced high volatility with Nifty closing below 25,000. Analysts predict a sideways or overdue consolidation with key support at 24,600. Resistance levels are at 25,050 and 25,190. Traders are advised to use a Short Iron Condor strategy to profit from limited price movements.