Stock markets rebound on buying in bank shares, Reliance
The benchmark Sensex rebounded by 167 points in volatile trade on Friday amid buying in ICICI Bank, State Bank of India and Reliance Industries. The 30-share BSE Sensex climbed 167.06 points or 0.23 per cent to settle at 71,595.49. During…
SEBI asks Zee Business guest experts to pay ₹7.41 crore for ‘unlawful’ gains
The Securities and Exchange Board of India (SEBI) on Thursday asked 15 guest experts including Nirmal Kumar Soni, Partha Sarathi Dhar, Simi Bhaumik, Mudit Goyal, Himanshu Gupta, Ashish Kelkar and Kiran Jadhav, appearing on the Zee Business news channel to…
Pyramid Technoplast acquires land to set up manufacturing unit in Maharashtra
Pyramid Technoplast Ltd. has signed an MoU for acquisition of 10 acres of land on an outright basis at a value of ₹12 crore in Wada, Palghar district, within the Konkan division of Maharashtra. A new manufacturing unit will be…
Atmatsco plans for ₹60 cr via IPO
Headquartered in Bhilai, Chhattisgarh, Atmatsco is offering 73.05 lakh shares, of which 54.80 lakh will be a fresh issue and 18.256 lakh shares through an offer-for-sale (OFS). The stock will be listed on NSE Emerge. The issue size is ₹60…
DroneAcharya Aerial Innovations bags export order for Defence FPV Drones; stock rises
DroneAcharya Aerial Innovations Ltd has announced the acquisition of an export order for Defense FPV (First Person View) drones, in collaboration with its associate company Drone Entry (Thailand). Key features of the drones include equipped security and surveillance, advanced imaging…
Thanks to IT stocks, Sensex, Nifty recover
Benchmarks BSE Sensex and NSE Nifty advanced on buying in IT stocks and expectations of a status-quo in the policy rates of the Reserve Bank of India (RBI) which is set to announce its revised monetary policy on Thursday. Besides…
Rupee settles 2 paise lower at 83.05 against US dollar
The rupee declined 2 paise to close at 83.05 (provisional) against the US dollar on Tuesday, amid a firm American currency against major currencies overseas. However, positive sentiment in the domestic equity markets and lower global crude prices supported the…
Broker’s call: Kaynes Tech (Accumulate)
Target: ₹3,100 CMP: ₹2,884.50 Kaynes Technology Q3 revenue surged 76 per cent y-o-y to ₹510 crore, 10 per cent higher than our estimates. Revenue was led by healthy B2B demand and strong order backlog. Revenue from the industrials segment spiked…
TCS stock rose over 1%; announces partnership with Europ Assistance
Tata Consultancy Services stock rose by 1.15 per cent on the NSE, trading at ₹4,011.90 as of 2.07 pm on Monday. The stock had hit a 52-week high today at ₹4,022. The company has signed a deal to transform Europ…
Why Should Investors Book Profits in Gujarat Fluorochem?
We recommended that investors buy the stock of Gujarat Fluorochem (GFCL) in December 2022, then trading at 24 times one-year forward earnings (FY24). The stock has since delivered 28 per cent returns and is now trading at even higher forward…
RBI interest rate decision, global trends, earnings to dictate stock markets, say analysts
Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI’s interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts. The trading activity of foreign investors…
Meta, Nvidia, Microsoft, Amazon, Apple, Alphabet and Tesla: Do the ‘Magnificent 7’ still have fire power?
The week gone by had it all. Resurfacing jitters of regional banking crisis in the US resulted in bond yields collapsing significantly in early part of the week. Then, a hawkish Fed pushing back expectations of interest rate cuts last…
Aadhar Housing files for ₹5,000-crore IPO
Mortgage lender Aadhar Housing Finance has filed draft papers for an initial public offer with a size of ₹5,000 crore, of which ₹4,000 crore is an offer for sale by promoter Blackstone, which holds 98.7 per cent stake now. The…
Mastering Derivatives: Avoiding Active Management of Delta-neutral Trades
Delta-neutral trades require active management. These are trades that involve taking long positions in, say, lower strike calls and short positions in higher strike calls such that the delta of the long position is equal to the delta of the…
Nava Q3 profit at record ₹465 crore, shares up
Nava Ltd’s shares spurted 3.44 per cent after the company reported that it had reduced its consolidated debt by 93 per cent compared to that in December 2022, signalling the likelihood of it becoming debt-free by the end of the fiscal…
IPO screener: BLS E-Services closes today
The initial public offering of BLS E-Services will close for public subscription today. The issue has received a strong response from retail investors and high net worth individuals. The IPO that plans to raise ₹311 crore, has a price band…
Sensex, Nifty hold steady ahead of Budget, Federal Reserve meet outcome
The NSE Nifty was down 0.04 per cent or 7.65 points at 21,718.04 points, while the BSE Sensex was at 71,725.06, down by 0.04 per cent or 27.05 points. A total of 2,918 stocks were actively traded, 1,662 advanced, while…
LIC closes above IPO price for first time since listing
Shares of Life Insurance Corporation closed above the IPO price for the first time on Wednesday since its listing in May 2022. The stock closed at ₹949.75 on both the NSE and the BSE, a tad above the IPO price…
UGRO Capital raises Rs 250 crore from ADB for small businesses, shares up
Ugro Capital Ltd. announced raising Rs 250 crore through Non-Convertible Debentures from the Asian Development Bank. The company reported the investment is ADB’s commitment to fostering inclusive, resilient, and sustainable prosperity by supporting small businesses at the grassroots level. The…
Bajaj Finance shares slump over 5% on rising stress in B2C loan portfolios.
Shares of Bajaj Finance slumped over 5 per cent on Tuesday after the NBFC highlighted rising stress in its rural and urban B2C loans portfolios in its Q3 earnings. On January 30, the stock fell 5.4 per cent to Rs…
Suzlon secures 642 MW wind power project order from Evren
Suzlon Energy Ltd’s shares were up by 1.92 per cent after the company bagged an order from Evren Company, ‘ABC Cleantech Pvt Ltd (ACPL),’ a joint venture between Brookfield and Axis Energy. The order involves supply of 214 wind turbine…
Sundaram’s Multi-Asset Allocation Fund garners ₹1,890 crore
Sundaram Mutual Fund said that its latest new fund offer of the Multi-Asset Allocation Fund has garnered ₹1,890 crore, with participation from over 83,000 investors. “This milestone marks a significant achievement for the brand, making this its 2nd largest NFO,”…
Zen Technologies’ shares rise on third-quarter results
Zen Technologies Ltd’s shares were up by 5 per cent after the company reported financial results for the third quarter. Revenue increased 198 per cent, EBITDA surged 371 per cent, and PAT rose 317 per cent during this period. Ashok…
Companies opting for IFSC listing may face several bumps
Indian companies wanting to list on the international exchanges at GIFT IFSC may face a number of roadblocks. The norms that were notified on Wednesday allow only the ‘permissible holder’ to invest, trade, or hold equity shares of Indian companies…
BLS E-Services IPO opens on Jan 30; price band set at ₹Rs 129-135/share
Technology-backed service provider BLS E-Services Ltd has set a price band of ₹129-135 per share for its initial public offering (IPO), that will open for bidding on January 30. Also read:IPO screener: Nova Agritech’s blockbuster issue closes today The issue…
How the “unluckiest investor” fares in the long run
Investing in the stock market for the long term is safe and rewarding, says Monika Halan, a prominent personal finance writer and television personality. In a conversation with businessline, at the HinduLitForLife event here today, Monika took the hypothetical case…
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Technical Analysis: Petronet LNG and ONGC
What is the outlook for Petronet LNG for the next two-three months? I am holding the stock and my average purchase price is ₹228. Can I exit at current levels? Ashish Petronet LNG (₹256.60): The outlook is bullish. Petronet LNG…
F&O Strategy: Buy Infosys Call
The short-term outlook turned positive for the stock of Infosys (₹1,669.1). The IT major finds immediate support at ₹1,560 and ₹1,427. The nearest resistance is at ₹1,720. A close above that level will trigger a fresh rally. In that event,…
Groww adds a million active traders in December quarter
Tiger Global-backed wealth management start-up ended 2023 with 7.6 million active traders, as per data from the NSE. Also read: Companies opting for IFSC listing may face several bumps While Zerodha had around 6.7 million active traders, Mumbai-based AngelOne ended…
Nova Agritech IPO turns blockbuster, subscribed 109 times
The initial public offering of Nova Agritech saw overwhelming response from all category investors with the issue being subscribed over 109 times, as non-institutions bid aggressively. The IPO, which came out with a price band of ₹39-41, received bids for…
Titagarh Rail Systems collaborates with Amber Group, shares up
Titagarh Rail Systems Limited’s shares were up by 1.95 per cent after the company along with Amber Group reported an alliance. The collaboration involves a joint investment of up to ₹240 crore in a special purpose vehicle (SPV), where TRSL…
Tata Metaliks fixes Feb 6 as record date for merger with Tata Steel
Tata Metaliks has fixed February 6 as the record date for the proposed merger with Tata Steel. According to the scheme of amalgamation, TML shareholders will be entitled to receive fully paid-up ordinary equity shares of Tata Steel Ltd on…
Equity benchmark indices decline in early trade
Equity benchmark indices witnessed a see-saw movement in the early trade on Wednesday amid high volatility, as investors rushed to book profit in high-value stocks. The BSE Sensex fell 316.75 points or 0.45 per cent to 70,053.58 points in the…
Medi Assist Healthcare ends 11% higher on Day 1 of listing
Shares of Medi Assist Healthcare Services ended with a premium of 11 per cent on Tuesday at ₹464.25 on the BSE against the issue price of ₹418. During the day, the stock hit a high of ₹509.60 and a low…
ICICI Bank hits record high on profit beat, margin comfort
Shares of ICICI Bank hit a record ₹1,059.4 on Tuesday after its third-quarter profit beat estimates on robust loan growth and margins met expectations. The private lender rose as much as 5 per cent in the session and was the…
Wall Street record propels Japan’s Nikkei to fresh 34-year peak
Japan’s Nikkei share average rallied to a fresh 34-year peak on Monday as the US S&P 500’s record-high close on Friday buoyed investor sentiment, despite continued signs of overheating in the Asian market. The Nikkei climbed as much as 1.59…
Sony sends termination letter to Zee over India merger
Sony Group Corp. has officially notified Zee Entertainment Enterprises Ltd. it plans to call off the merger between its India unit and the media network, ending a two-year acquisition saga and leaving Zee vulnerable to competition as rivals bulk up….
Technical Analysis: Britannia Industries, Punjab National Bank and TVS Motor Company
Britannia Industries (₹5,163.2) Rally to resume Britannia Industries’ share price has been on a decline since the beginning of this year. It fell off ₹5,375, thus indicating that this is a resistance. But towards the end of last week, there…
EPACK Durable IPO: Four Things To Know Before Subscribing
The initial public offering (IPO) of the Noida-based contract manufacturer of room airconditioner (RAC), EPACK Durable, opened on January 19 and will accept subscriptions till January 23, 2024. The total offer is worth around ₹640 crore out of which ₹400…
HCL Technologies: Why Investors Can Book Profits in this Stock
At bl.portfolio, we had started taking a cautious approach to IT stocks since mid-2021 when valuations started getting frothy. Since then, there has been quite a significant time-wise, and also in many cases, absolute correction in stocks in the sector….
Sensex, Nifty likely to remain subdued today
Domestic markets are likely to open flat and remain listless today. The focus will be on big ticket banking and finance companies such as ICICI Bank, Kotak Mahindra Bank, Can Fin Homes, IDBI, IDFC First Bank and IREDA. Participation from…
BSE, NSE to function on Saturday; Monday holiday
Equity and derivatives markets of BSE and the National Stock Exchange will function normal on Saturday i.e. from 9:15 a.m. to 3:30 p.m., without the planned disaster recovery movements. However, the markets will remain shut on Monday, as the Maharashtra…
IPO screener: Epack Durable issue opens today at ₹218-230
The ₹640-crore initial public offering of Epack Durable will open for public subscription today and close on January 23. The IPO comes with a price band of ₹218-230 and the market lot is 65 shares. The company has reserved not…
BNP Paribas expects Nifty to hit 23,500 by year-end, Emkay sees 24,000 coming
Global financial advisory firm BNP Paribas expects Nifty to post a high single-digit return in 2024 while domestic brokerage Emkay Global Financial anticipates an 11 per cent return. “While most factors remain favourable for Indian equities in 2024, valuation comfort…
Markets tumble in early trade; fall for 3rd day running
Benchmark equity indices Sensex and Nifty tanked in early trade on Thursday, falling for the third day running, as investors continued to book profits after the recent record-breaking rally. Also, fresh foreign fund outflows dampened the mood. The BSE Sensex…
Indices tank over 2% on Fed talk, shadow over bank stocks
Benchmark indices went into a free fall on January 17, tanking over two per cent, to post their biggest single-day loss in the last one-and-a-half years. HDFC Bank’s disappointing third quarter results, along with hawkish Fed commentary, escalating tension in…
Morning market: BSE Sensex down by 700 pts; Nifty over 200 pts
The BSE Sensex declined by 722.22 points or 0.99 per cent as of 9:55 am on Wednesday at 72,406.55, while Nifty 50 was down by 212.60 points or 0.96 per cent at 21,819.70. As of 10:04 am, all sectoral indices,…
Broker’s Call: L&T (Outperform) – The Hindu BusinessLine
Target: ₹4,020 CMP: ₹3,573.80 Our interactions suggest that investors are concerned about the security situation in the Middle East, following attacks on ships in the Red Sea by Houthi rebels in Yemen. In our view, a key material negative development…
Sensex, Nifty set to open little changed
India’s benchmark index Nifty 50 is set for a muted start on Tuesday, tracking Asian peers ahead of key economic data from China, after a recent rally to record highs. India’s GIFT Nifty was trading at 22,107 as of 7:58…
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Sensex jumps 759 pts to close at record high, Nifty scales 22K mount on sharp gain in IT shares
Benchmark Sensex closed above the 73,000 level for the first time while broader Nifty scaled the 22,000-point peak on Monday as key stock indices stayed on the record-breaking run powered by a rally in IT shares, Reliance and HDFC Bank….
Nikkei marks fresh 34-year peak as shippers, banks gain
Japan’s Nikkei share average rose to a 34-year peak on Monday, with the latest leg higher powered by gains for shippers and financials. The Nikkei entered the midday recess up 0.83 per cent at 35,870.73 after touching the highest since…
GHCL’s shares surge 2.17% on ₹3,450 crore investments in Gujarat
GHCL Limited’s shares were up by 2.17 per cent after the company signed two Memorandums of Understanding (MOUs) during the Vibrant Gujarat Summit, outlining investments totalling Rs 3,450 crore in Gujarat. The MOUs were inked in the presence of the…
Asian Energy secures ₹21.9 crore contract from Eastern Coalfields for Rajmahal project; stock gains over 2%
Asian Energy Services Ltd clinched a contract from Eastern Coalfields Limited (ECL), a subsidiary of Coal India Limited. The contract entails the construction of plough feeders and associated civil works at the existing coal handling plant in Rajmahal, Jharkhand’s Godda…
Veranda Learning and Tapasya Educational join forces for comprehensive student-centric offerings
Veranda Learning Solutions Limited’s shares were up by 2.08 per cent after the company acquired a 50 per cent stake in Tapasya Educational Institutions Private Limited for Rs 120 crore. The company reported, the addition of Tapasya will enhance Veranda’s…
SEC charges Morgan Stanley, Pawan Passi in front-running case
The Securities and Exchange Commission (SEC) on Friday charged investment banking major Morgan Stanley & Co. LLC and the former head of its equity syndicate desk, Pawan Passi, in a front-running case. According to the US market regulator, the banking…
Polycab faces investor scepticism after income-tax findings; analysts unconvinced
Income-tax findings on an “unnamed” company perceived to be Polycab Industries and the company’s clarification failed to convince analysts. The Polycab stock corrected 21 per cent to ₹3,905 on Thursday because of a Ministry of Finance release suggesting tax evasion…
Broker’s call: Vedanta (BUY) – The Hindu BusinessLine
Target: ₹362 CMP: ₹274.60 The successful debt restructuring at Vedanta parentco Vedanta Resources (VRL) removes a major overhang on the stock. The restructuring comes at a higher cost, but gives Vedanta a two-year breather to focus on ongoing aluminium/zinc capex…
Sensex, Nifty climb in early trade on firm global trends
Benchmark equity indices climbed in early trade on Thursday amid a rally in global markets and buying in Reliance Industries. The 30-share BSE Sensex jumped 341.76 points to 71,999.47 in early trade. The Nifty climbed 107.8 points to 21,726.50. Among…
jsw cement prepares ground for 6500 cr ipo
After the successful venture into automobile sector, Sajjan Jindal-led JSW Group is preparing the ground for listing its cement business on stock exchanges to raise about ₹6,500 crore. Sources said JSW Cement has reached out to domestic and foreign investment…
Markets decline in early trade on fresh foreign fund outflows, weak global trends
Benchmark equity indices declined in early trade on Wednesday amid fresh foreign fund outflows and a largely weak trend from global markets. Investors preferred to stay on the sidelines ahead of the start of corporate earnings season and macroeconomic data…
Govt should think differently while selling stake in listed PSUs
Public sector companies or PSUs are an important resource for the Centre when it comes to fund raising but that is proving a Herculean task, especially from listed ones. By selling stake, the Centre achieves twin targets of meeting minimum…
India gains heft in MSCI EM index
India has toppled Taiwan to take the second place in the MSCI EM Index, with a weightage of 17.1 per cent. The country’s representation in the index is poised to top 20 per cent in the coming months, according to…
Broker’s call: KEI Industries (Buy)
Target: ₹3,600 CMP: ₹3,385.30 KEI Industries is on a healthy and sustainable growth trajectory as it is catering to diversified user industries, increasing its focus on the retail segment, strengthening its high-margin EHV, and carrying out capex to meet the…
Broker’s call: Sobha (Buy) – The Hindu BusinessLine
Target: ₹1,400 CMP: ₹1,297.50 After underperforming its listed peers on pre-sales growth over FY21-23, we believe Sobha is set to outperform in terms of growth given its focus on unlocking its vast land reserve and exploring external growth opportunities through…
Sensex gains over 300 pts, Nifty trades above 21,600 in early trade
Equity markets opened in green on Thursday. The NSE Nifty was up by 0.42 per cent or 90.50 points to 21,609.20, while the BSE Sensex was up by 0.46 per cent or 326.25 points to 71,672.51 at 10 am. A…
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…
Adani-Hindenburg case: Timeline of events
Following is the chronology of events in the matter in which the Supreme Court on Wednesday refused to transfer the probe into allegations of stock price manipulation by the Adani Group to a special investigation team and directed SEBI to…
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…
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…
Retail investors rule the roost in MFs new year party
Retail investors have played a major role in the mutual fund industry’s record breaking spree both in terms of attracting investment and mopping highest ever asset. The retail asset under management (equity, hybrid and solution oriented schemes) has jumped whopping…
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 gains 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…
L&T secures EPC contract for Saudi Arabia’s Amaala project
Larsen & Toubro Ltd’s shares were up by 1.02 per cent after the company was awarded an EPC contract for the establishment of renewable energy generation, power utilities, and water systems for the Amaala project in the Red Sea region,…
Maithan Alloys to buy 10 lakh NSE shares at ₹3,240 each
Maithan Alloys, manufacturers and exporters of niche value-added manganese alloys, said on Tuesday that it plans to acquire 10 lakh shares (0.202 per cent) of the National Stock Exchange. In a disclosure to the stock exchanges, the company said it…
IPO screener: Muthoot Microfinance shares to be listed today
Shares of the Muthoot Pappachan Group company Muthoot Microfinance will be listed at the bourses today. The issue price of the ₹960-crore IPO has been fixed at ₹291, at the upper end of the ₹277-291 price band. The issue was…
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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…
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…
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: 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…
PVR Inox opens 3-screen multiplex in Gurugram; stock inches up
PVR Inox has launched its 14th multiplex in Gurugram, Haryana. The 3-screen multiplex is located in IRIS Broadway, Sector 85, on NH-8, Dwarka Expressway. The screens are equipped with the latest technology, including a 4K Laser Projection System providing razor-sharp…
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…
IPO screener: Credo Brands Marketing issue enters Day 2
The initial public offering of Mumbai-based Credo Brands Marketing was subscribed twice on the opening day, Tuesday. The ₹549.80-crore IPO comes with a price band of ₹266-280 and investors can bid for a minimum of 53 shares. The issue will…
Broker’s call: IndusInd Bank (Buy)
Target: ₹2,000 CMP: ₹1,566.15 We met Sumant Kathpalia, MD and CEO of IndusInd Bank, to discuss the progress on the Bank’s Planning Cycle 6 and its strategy to deliver sustainable and profitable growth. He reiterated the bank’s unwavering focus on…
Global funds buy over $6 bn in Adani group stocks in 2023
Adani group stocks have attracted portfolio investments of over ₹52,000 crore (over $6 billion) in 2023 from global strategic investors, retirement, and insurance funds, a third of net foreign portfolio inflows into Indian equities this calendar year so far. According…
Sensex, Nifty snap rally to record highs as financials weigh
India’s Nifty 50 and Sensex fell on Monday after rallying to record highs for most of this month as high-weightage banks took a breather following a recent rise. The benchmark NSE Nifty 50 index lost 0.18 per cent to 21,418.65…