Markets rebound after falling for two days; Sensex jumps 491 points
Equity benchmark indices Sensex and Nifty rebounded on Thursday after falling in the past two days and ended nearly 1 per cent higher, mainly on buying in HDFC Bank and Bajaj Finance. The 30-share BSE Sensex jumped 490.97 points or…
PTC Industries raises ₹141.25 crore from Ashish Kacholia, others
The board of PTC Industries on Wednesday approved preferential issue of up to 2.35 lakh shares to certain non-promoters at ₹6,000 each, aggregating up to ₹141.25 crore. Among the investors are Ashish Rameshchandra Kacholia and Himalaya Finance & Investment Co…
Sensex falls 535 pts dragged by HDFC & IT shares, weak global trends
Stock markets declined for a second day in a row on Wednesday with benchmark Sensex closing lower by 535 points due to selling in HDFC Bank and IT shares amid weak global trends. The 30-share BSE Sensex fell by 535.88…
Rays Power Infra files DRHP for IPO
Mumbai-based Rays Power Infra, an integrated solar power company with implementation of solar power projects of 1,207 mega-watts peak, has filed its Draft Red Herring prospectus (DRHP) with capital market regulator SEBI to raise funds for its initial public offering…
Royal Orchid shares surge on inauguration of property in Himachal Pradesh
Royal Orchid & Regenta Hotels Ltd’s shares jumped 7.15 per cent after the company inaugurated its seventh property in Himachal Pradesh. The property, Regenta Inn Luxinna, Bhagsung, is located in the tranquil hill town of McLeodganj. Chander K Baljee, Chairman…
Esconet Tech files draft paper to list in NSE Emerge
New Delhi-headquartered Esconet Technologies has filed draft paper for listing at NSE Emerge. The IPO comprises a fresh issue of 33.60 lakh shares. The company manufactures high-performance supercomputers, data servers and workstations, besides offering a wide range of IT solutions…
India stocks’ historic eight-year winning streak poised for extension
Indian equities are poised to rise further after closing out a record eight-year winning run in 2023, on expectations of continued inflows from retail and foreign investors as well as strong growth in corporate earnings. That’s the key takeaway from…
NCC: Should you buy this key infrastructure player?
As infrastructure and its many sub-segments took off sharply over the past couple of years and continue to thrive with heavy government investments and initiatives, many companies have benefitted from smart execution of such projects. In this regard, NCC is…
Technical Call: Jubilant Pharmova – BUY
Long-term investors can buy the shares are Jubilant Pharmova (₹545.75) at current levels. The stock made a low of ₹268.60 in March and has risen well from there. It indicates that the downtrend has reversed. This rise from the above…
LIC trims stake in BHEL to 9.617%
Life Insurance Corporation of India’s has reduced its shareholding in Bharat Heavy Electricals Ltd to 9.617 per cent from 11.701 per cent. In a disclosure to the exchanges, LIC said it sold the shares at an average price of ₹79.58…
Broker’s call: Amber Enterprises (Buy)
Target: ₹3,700 CMP: ₹3,133.70 The company reported a robust growth outlook across all segments, resulting in strong earnings visibility from FY23 to FY26. The revenue contribution from the Railway and Mobility (R&M) division, which yields higher operating margins, is increasing….
Market update: Sensex, Nifty see decline, SEBI’s rumor verification measures in focus
The Friday morning market opened with a decline, following the positive start earlier in the week. NSE Nifty was down by 0.21 per cent, or 46.55 points, at 21,732, while the BSE Sensex was at 72,229.87, down by 0.24 per…
Broker’s call: Matrimony.com (Add) – The Hindu BusinessLine
Target: ₹635 CMP: ₹ 562.15 We met Sushanth Pai, Chief Financial Officer, Matrimony.com (Matrimony). Takeaways: 10–12 per cent revenue growth (volume led) is possible in the future and will be driven by new initiatives like ‘Jodii’ and the launch of…
IPO screener: Tendulkar, Sindhu-backed Azad Engineering to list today
Shares of Hyderabad-based Azad Engineering will be listed on the bourses today. The company, whose IPO saw an overwhelming response from all category of investors, has fixed the issue price at ₹524, at the upper end of the price band…
RBZ Jewellers gain 5% on listing day
Shares of RBZ Jewellers closed 5 per cent higher on listing day after opening on a dull note. The stock closed at ₹105 against the IPO price of ₹100 on the NSE, after moving between ₹96 and ₹105. On the…
IPO screener: Credo Brands listing today at issue price of ₹280
Shares of the Mumbai-based Credo Brands Marketing, that owns the Mufti brand of clothing, will be listed on the bourses today. The issue price has been fixed at ₹280. The ₹549.80-crore IPO is priced in a band of ₹266-280, and…
Muthoot Microfinance tumbles 8.5% on listing day
Shares of the Muthoot Pappachan Group company Muthoot Microfinance were listed on a lacklustre note at the bourses on Tuesday. As against the issue price of ₹291, shares were listed at ₹278 and slipped further to hit a low of…
IPO screener: Motisons Jewellers shares to be listed today
Shares of Motisons Jewellers will be listed at the bourses today. The issue price at ₹55, is at the upper end of the price band of ₹52-55. The initial public offering of the Jaipur-based jewellery was subscribed 173.23 times, with…
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Nifty prediction today – Dec 22, 2023: Bulls with the advantage, traders can go long
Nifty 50 began today’s session with 21,295.85 versus Thursday’s close of 21,255.05. The index added gains post the open and is now at 21,340, up 0.4 per cent. The advance/decline ratio of Nifty 50 stands at 43/7, giving the index…
Bank Nifty prediction today – December 22, 2023: Stay out of the market
Bank Nifty December futures (48,020) The Bank Nifty index is trading higher. The index is currently at 47,930, up 0.20 per cent. The advances/ declines ratio is at 11:1. This indicates the overall strength in the index. HDFC Bank, down 0.6…
Sensex, Nifty move up in early trade on firm global cues
Benchmark equity indices began the trade on an optimistic note on Friday tracking firm global market trends. The 30-share BSE Sensex climbed 180.55 points to 71,045.65 in early trade. The Nifty went up by 58 points to 21,313.05. However, both…
Banking, auto sectors could lift Nifty to 24200 level in 2024: ICICIdirect
Nifty could hit the 24200 level in 2024, driven by heavyweight stocks from the BFSI, auto, cement and healthcare sectors, ICICIdirect has said in its latest Quant Yearly Outlook report. The Nifty was up by 119.10 pts or 0.56 per…
AXISCADES Technologies stock hits 52-week high on NSE
AXISCADES Technologies stock surged 10 per cent to hit a 52-week high on the NSE, it traded at ₹675 as of 1:40 pm on Friday. The Bengaluru-based engineering solutions provider had recently acquired EPCOGEN Pvt Ltd for ₹26.25 crore, with an…
Broker’s Call: PCBL Ltd (Buy)
Target: ₹320 CMP: ₹250.15 In our view, PCBL’s stock price is not factoring in the value of its recently acquired Aquapharm business. Besides, PCBL’s recent JV with Kinaltek takes it further away from its traditional carbon black business. Aquapharm’s biodegradable…
Broker’s Call: Siemens (Buy) – The Hindu BusinessLine
Target: ₹4,600 CMP: ₹3,961 Siemens, in its analyst meet, highlighted growth opportunities across segments, plans to demerge its energy division, and plans to increase localization across segments. The company is optimistic about growth prospects in the domestic market across government…
Broker’s call: JK Lakshmi Cement (Buy)
Target: ₹1,000 CMP: ₹857.10 The company’s ongoing capacity expansion at its subsidiary UCWL (Udaipur Cement Works Ltd) of a 2.5 mtpa grinding unit is progressing well and is expected to commercialise in Q1-FY25. The clinker unit (1.5 mtpa) is already…
Motilal Oswal AMC collects ₹1,350 crore via small-cap NFO
Motilal Oswal Asset Management Company has collected over ₹1,350 crore through its small-cap new fund offer. This is the highest-ever collection for any active small-cap NFO, said the fund house. Moreover, it is the first active NFO from the fund…
Broker’s call: Bharat Electronics (Accumulate)
Target: ₹185 CMP: ₹167.25 Bharat Electronics (BHE) has received several order inflows aggregating ₹8,790 crore in Q3-FY24 to date. Until FY24 YTD, cumulative order inflows stood at ₹23,170 crore vs guidance of ₹20000 crore in FY24, 16 per cent ahead…
market crash sensex sinks 931 pts nifty closes at 21150
After opening in record highs, equity benchmarks closed in red on Wednesday. While BSE Sensex lost 930.88 pts or 1.30 per cent to 70,506.31, Nifty declined 302.95 pts or 1.41 per cent to 21,097.45. The sharp unwinding reflected in mid-cap…
PSB stocks sustain rally on hopes of another re-rating
Public sector banks have continued their good run on the bourses this year with the Nifty PSU Bank index gaining 33 per cent in the year to date. For two- and three-year periods, the index is up 123 per cent…
DroneAcharya Aerial Innovations to conduct drone pilot training for Maharashtra Police
DroneAcharya Aerial Innovations Ltd announced the conduct of DGCA certified drone pilot training for the Maharashtra Police Department. The company had also bagged a contract from the Ministry of Defence. Prateek Srivastava, the Founder and Managing Director of DroneAcharya, said,…
Crisil Ratings downgrades Bandhan Bank’s NCD rating
Crisil Ratings has downgraded its rating on non-convertible debentures of Bandhan Bank Ltd to ‘Crisil AA-/Stable’ from ‘Crisil AA/Negative’ and reaffirmed its ‘Crisil A1+’ rating on the certificate of deposits. The rating action reflects the longer than anticipated delay in…
Rupee falls 2 paise to close at 83.05 against US dollar
The rupee surrendered all its initial gains to settle 2 paise lower at 83.05 (provisional) against the US dollar on Monday, in line with a lacklustre trend in domestic equity markets. However, a weak greenback against major currencies overseas and…
F&O Strategy: Bull Call Spread on APSEZ
The outlook remains positive for the stock of Adani Ports and Special Economic Zone (APSEZ) (₹1,078.55). If the current rally sustains, APSEZ can hit a high of ₹1,350. On the other hand, APSEZ finds an immediate support at ₹1,017. A…
Impresario Handmade Restaurants eyes listing in 2-3 years
Impresario Handmade Restaurants, which owns premium restaurant chains like ‘Social’ and ‘Smoke House Deli’, aims to be listed in the next two–to-three years. According to Riyaaz Amlani, CEO and MD, Impresario Entertainment and Hospitality Pvt Ltd, listing would primarily be…
SIP inflows surge by 65% in four months amidst rise in new registrations
The net inflow through the Systematic Investment Plan at ₹9,058 crore accounted for 56 per cent gross inflow of ₹17,073 crore in July with the number of new SIP increasing at a faster pace. In fact, it has been growing…
IPO alert: Muthoot Microfin allocates shares to anchor investors at ₹291 per share
Muthoot Microfin’s IPO committee, in consultation with its book-running lead managers, has finalised the allocation of about 97.93 lakh equity shares to 26 anchor investors at an anchor investor allocation price (AIAP) of ₹291 per equity share aggregating ₹285 crore….
Broker’s call: CESC (Buy) – The Hindu BusinessLine
Target: ₹151 CMP: ₹122.56 In Q2-FY24, CESC exhibited consistent financial performance. Revenue from operations surged to ₹4,352 crore, marking an 11.2 per cent y-o-y increase and a 1 per cent q-o-q rise, primarily attributed to an uptick in average tariffs…
Fed fuels longest weekly winning streak in Indian shares in six years
India’s benchmark indexes, Nifty and Sensex, posted their longest weekly winning streak in six years on Friday, extending their rally to record highs, as global markets advanced on elevated bets of a US rate cut by March 2024. Both the…
Credo Brands Marketing fixes IPO price at ₹266-₹280 a share
Credo Brands Marketing has fixed the price band at ₹266 to ₹280 per equity share for its initial public offer. The IPO will open on December 19 for subscriptions and close on December 21. Investors can bid for a minimum…
‘Local, global monies underinvested in Indian equities’
The market is trading at marginally above-average multiples, with the last 3–4 months widening the gap in favour of large caps, says Jiten Doshi, Co-Founder and Chief Investment Officer, Enam Asset Management Company. Doshi says election results, global interest rates,…
Denta Water and Infra Solutions files draft papers for IPO
Bengaluru-based Denta Water and Infra Solutions Ltd has filed its draft red herring prospectus with Securities and Exchange Board of India to raise funds through initial public offering (IPO). The public offer from a water engineering, procurement, and construction services…
Tata Power inks agreement for supply of green power with Dr. Abhay Firodia group of companies
Tata Power Renewable Energy Ltd’s shares were up 2.18 per cent at Rs 338 at 3.15 pm on the BSE, after it finalised a Power Delivery Agreement (PDA) with the Dr. Abhay Firodia Group of Companies, encompassing Force Motors Ltd…
Broker’s Call: LGB Bros (Accumulate)
Target: ₹1,484 CMP: ₹1,303.30 L G Balakrishnan Brothers (LGB) manufactures roller chains and undertakes metal forming, including warm & cold forging, fine blanking and machined parts. With the Indian two wheeler industry in a cusp of an entrenched slowdown –…
Spectrum Foods expects luxury resort project in Pushkar to be completed on schedule
Spectrum Foods Ltd’s shares were up 1.20 per cent after the company provided an update on the construction of its luxury resort project in Pushkar. Construction is on in full swing with approximately 150 workers on-site, to ensure timely completion…
Bulls continue to rule D-Street on strong FII inflows
Today it was the turn of BSE Sensex to record historical milestone after NSE Nifty scaling the 21,000 peak on Friday. The BSE Sensex breached the 70,000-mark for the first time on Monday, hitting an all-time high of 70,057.83 as…
Coforge launches AI solution, shares up
Coforge Ltd’s shares were up by 1.98 per cent after the company launched the Quasar Responsible AI solution, aiming to ensure ethical, fair, transparent, and regulatory-compliant AI applications. The company reported that it addresses biases in datasets and models, identifies…
RITES signs MoU with Oil India for project in Assam
Infrastructure consultancy and engineering firm RITES has entered into a memorandum of understanding (MoU) with Oil India Limited, the national oil company, to develop Duliajan Township, Assam, as a mini smart city. As per the press statement, RITES will review…
Broker’s call: BEML (Reduce) – The Hindu BusinessLine
Target: ₹2,350 CMP: ₹2,455.90 BEML management expects revenue to grow by 20 per cent y-o-y in FY24 to ₹4,500-4,800 crore (earlier ₹5,000 crore), driven by execution ramp-up in defence & aerospace (D&A) and rail & metro ([R&M]; both segments set…
Broker’s call: BEL (Buy) – The Hindu BusinessLine
Target: ₹184 CMP: ₹158.70 Bharat Electronics Ltd (BEL) reported in Q2-FY24 revenue from operations to ₹3,993.30 crore, up 1.2 per cent y-o-y and 13.5 per cent q-o-q. EBITDA stood at ₹1,014 crore, up 16.8 per cent y-o-y and 50.8 per…
Time is ripe for domestic markets to have vibrant hedging tools
At the recent Global Economic Policy Forum 2023, organised by the Department of Economic Affairs in Finance Ministry and Confederation of Indian Industry, Ridham Desai, Managing Director, Morgan Stanley India, made three important observations with respect to the stock market….
MRF breaches ₹50,000-crore market cap
Shares of MRF Ltd on Friday breached the ₹50,000-crore market cap on Friday as they were on a roll in the last few months. The stock closed at ₹1,17.916.10 on the BSE, up 0.41 per cent, over previous day’s close…
Motilal Oswal buys shares of Tube Investments of India worth Rs 335 cr
Motilal Oswal Mutual Fund on Thursday bought shares of Tube Investments of India for Rs 335 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Motilal Oswal Mutual Fund has…
Tata Power scales new peak, m-cap moves past ₹1-lakh cr
Tata Power stock zoomed to an all-time high of ₹332 on Thursday on the BSE that helped it to cross ₹1-lakh crore market capitalisation (₹1.04-lakh crore). The stock closed almost 11 per cent higher at ₹325.7 higher from Wednesday’s close…
Sensex, Nifty snap seven-day rally; Sensex falls over 200 points
Benchmarks Sensex and Nifty snapped their seven-day run in early trade on Thursday amid selling pressure from foreign institutional investors and tracking cues from Asian markets. Analysts said, receding crude oil prices in international markets failed to boost sentiment as…
Broker’s call: JSW Infra (Buy)
Target: ₹255 CMP: ₹238.95 JSW Infrastructure (JSWIL) in its filing has announced the acquisition of a majority stake (50 per cent equity plus 1 share) in PNP Port Maritime Service Pvt Lt d (PNPL) from Shapoorji Pallonji Group for a…
Cupid share price inches up following land acquisition in Mumbai
Cupid Limited has acquired a land parcel in an industrial area near Mumbai to expand its production capacity by 1.5 times the existing output. The capacity expansion will be funded entirely through internal accruals, with no reliance on borrowings. Managing…
Kotak Research finds flaws in market valuation; sees limited investment opportunity
Kotak Institutional Equity Research has identified several flaws in the valuation practices prevalent in the stock market.This has exaggerated the ‘fair’ values of stocks and understated potential risks to the business models of companies, it said. “We note two broad…
Stock Market Live Updates: Sensex and Nifty open at new peaks driven by economic optimism
India’s primary indexes surged to fresh record highs on Tuesday, building on the momentum from the previous session driven by robust macroeconomic data, expectations of a U.S. rate cut in March, and the Bharatiya Janata Party’s triumph in key state…
Genesys International subsidiary bags contract in Saudi Arabia; stock rises over 1%
Genesys Middle East Ltd., a subsidiary of Genesys International Corporation in Saudi Arabia, has received contract for the 3D Digital Twin mapping of the Holy City of Mecca by the Kingdom of Saudi Arabia. The project is valued at ₹26…
Adani Ports records 42% y-o-y growth in Nov 2023 cargo volumes; shares up by 4%
Adani International Container Terminal Private Limited (AICTPL), the joint venture terminal at the Adani Ports and Special Economic Zone (APSEZ) in Mundra, has handled over 3,00,000 containers in the month of November. APSEZ has recorded cargo volumes of around 36…