The RBI has turned down the proposal of Muthoot Finance Ltd. to acquire IDBI Bank’s mutual fund business. According to a regulatory filing by IDBI Bank Ltd. on November 24, a share purchase agreement concerning the sale of IDBI Mutual Fund to Muthoot Finance was signed on November 22, 2019.
Muthoot Finance Limited’s request for a no-objection certificate was not acceded to by the Reserve Bank of India on the ground that, “the activity of sponsoring a Mutual Fund or owning an Asset Management Company does not align with the activity of an operating NBFC”, the company said in a stock exchange filing.
Muthoot Finance had proposed to purchase 100 equity shares of IDBI AMC and IDBI MF Trustee Company held by the sellers for a total consideration of ₹215 crores.
The company said that a “share purchase agreement dated November 22, 2019, was entered into by and between Muthoot Finance Limited, IDBI Bank Limited, IDBI Capital Markets & Securities Limited, IDBI Asset Management Limited, and IDBI MF Trustee Company Limited about the proposal for acquisition by Muthoot Finance Limited of 100% equity shares of IDBI Asset Management Limited held by IDBI Bank Limited and its nominees and IDBI Capital Markets & Securities Limited, and 100 % equity shares of IDBI MF Trustee Company Limited held by IDBI Bank Limited and its nominees”.
NIFTY ENERGY Outlook for the Week (June 03, 2024 – June 07, 2024)

Technically, NIFTY ENERGY share price will see immediate support at 39,420.17 and immediate resistance would be seen at 41,472.57.
If NIFTY ENERGY share price closes below immediate support of 39,420.17, then sharp breakdown can be seen. NIFTY ENERGY share price will see major support at 38,584.83 for the week.
On the positive side, immediate resistance will be seen at 41,472.57. Closing above 41,472.57, NIFTY ENERGY share price will see a sharp breakout. Major resistance for NIFTY ENERGY share price will be seen at 42,689.63 for the week.
Trading range for NIFTY ENERGY share price for this week should be between 37,367.77 on down side and 43,524.97 on up side.
NIFTY ENERGY Previous Week High: 41854.3
NIFTY ENERGY Previous Week Low: 39801.9
NIFTY ENERGY Previous Week Range: 2052.4 Points
NIFTY ENERGY share price support and resistance for the week (June 03, 2024 – June 07, 2024)
Level Type | Value |
---|---|
Resistance 3 | 43,524.97 |
Resistance 2 | 42,689.63 |
Resistance 1 | 41,472.57 |
Support 1 | 39,420.17 |
Support 2 | 38,584.83 |
Support 3 | 37,367.77 |
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NIFTY ENERGY Outlook for the Week (May 27, 2024 – May 31, 2024)

Technically, NIFTY ENERGY share price will see immediate support at 40,667.72 and immediate resistance would be seen at 42,239.27.
If NIFTY ENERGY share price closes below immediate support of 40,667.72, then sharp breakdown can be seen. NIFTY ENERGY share price will see major support at 39,700.78 for the week.
On the positive side, immediate resistance will be seen at 42,239.27. Closing above 42,239.27, NIFTY ENERGY share price will see a sharp breakout. Major resistance for NIFTY ENERGY share price will be seen at 42,843.88 for the week.
Trading range for NIFTY ENERGY share price for this week should be between 39,096.17 on down side and 43,810.82 on up side.
NIFTY ENERGY Previous Week High: 41876.95
NIFTY ENERGY Previous Week Low: 40305.4
NIFTY ENERGY Previous Week Range: 1571.55 Points
NIFTY ENERGY share price support and resistance for the week (May 27, 2024 – May 31, 2024)
Level Type | Value |
---|---|
Resistance 3 | 43,810.82 |
Resistance 2 | 42,843.88 |
Resistance 1 | 42,239.27 |
Support 1 | 40,667.72 |
Support 2 | 39,700.78 |
Support 3 | 39,096.17 |
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NIFTY ENERGY Outlook for the Week (May 20, 2024 – May 24, 2024)

Technically, NIFTY ENERGY share price will see immediate support at 38,834.10 and immediate resistance would be seen at 41,069.55.
If NIFTY ENERGY share price closes below immediate support of 38,834.10, then sharp breakdown can be seen. NIFTY ENERGY share price will see major support at 37,365.70 for the week.
On the positive side, immediate resistance will be seen at 41,069.55. Closing above 41,069.55, NIFTY ENERGY share price will see a sharp breakout. Major resistance for NIFTY ENERGY share price will be seen at 41,836.60 for the week.
Trading range for NIFTY ENERGY share price for this week should be between 36,598.65 on down side and 43,305.00 on up side.
NIFTY ENERGY Previous Week High: 40368.2
NIFTY ENERGY Previous Week Low: 38132.75
NIFTY ENERGY Previous Week Range: 2235.45 Points
NIFTY ENERGY share price support and resistance for the week (May 20, 2024 – May 24, 2024)
Level Type | Value |
---|---|
Resistance 3 | 43,305.00 |
Resistance 2 | 41,836.60 |
Resistance 1 | 41,069.55 |
Support 1 | 38,834.10 |
Support 2 | 37,365.70 |
Support 3 | 36,598.65 |
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NIFTY ENERGY Outlook for the Week (May 13, 2024 – May 17, 2024)

Technically, NIFTY ENERGY share price will see immediate support at 38,059.13 and immediate resistance would be seen at 40,428.28.
If NIFTY ENERGY share price closes below immediate support of 38,059.13, then sharp breakdown can be seen. NIFTY ENERGY share price will see major support at 37,028.82 for the week.
On the positive side, immediate resistance will be seen at 40,428.28. Closing above 40,428.28, NIFTY ENERGY share price will see a sharp breakout. Major resistance for NIFTY ENERGY share price will be seen at 41,767.12 for the week.
Trading range for NIFTY ENERGY share price for this week should be between 35,689.98 on down side and 42,797.43 on up side.
NIFTY ENERGY Previous Week High: 40736.8
NIFTY ENERGY Previous Week Low: 38367.65
NIFTY ENERGY Previous Week Range: 2369.15 Points
NIFTY ENERGY share price support and resistance for the week (May 13, 2024 – May 17, 2024)
Level Type | Value |
---|---|
Resistance 3 | 42,797.43 |
Resistance 2 | 41,767.12 |
Resistance 1 | 40,428.28 |
Support 1 | 38,059.13 |
Support 2 | 37,028.82 |
Support 3 | 35,689.98 |
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NIFTY ENERGY Outlook for the Week (May 06, 2024 – May 10, 2024)

Technically, NIFTY ENERGY share price will see immediate support at 40,005.58 and immediate resistance would be seen at 41,190.53.
If NIFTY ENERGY share price closes below immediate support of 40,005.58, then sharp breakdown can be seen. NIFTY ENERGY share price will see major support at 39,440.12 for the week.
On the positive side, immediate resistance will be seen at 41,190.53. Closing above 41,190.53, NIFTY ENERGY share price will see a sharp breakout. Major resistance for NIFTY ENERGY share price will be seen at 41,810.02 for the week.
Trading range for NIFTY ENERGY share price for this week should be between 38,820.63 on down side and 42,375.48 on up side.
NIFTY ENERGY Previous Week High: 41244.55
NIFTY ENERGY Previous Week Low: 40059.6
NIFTY ENERGY Previous Week Range: 1184.95 Points
NIFTY ENERGY share price support and resistance for the week (May 06, 2024 – May 10, 2024)
Level Type | Value |
---|---|
Resistance 3 | 42,375.48 |
Resistance 2 | 41,810.02 |
Resistance 1 | 41,190.53 |
Support 1 | 40,005.58 |
Support 2 | 39,440.12 |
Support 3 | 38,820.63 |
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