On the weekly chart, Mahindra Logistics stock prices have confirmed a bullish reversal pattern breakout known as the Cup and Handle
Posts in category Business Standard
Buy & sell ideas for July 01 from Anand Rathi: Nestle, SBI Life, ONGC (01-07-2024)
Notably, SBI Life has recently broken out of this consolidation range and is now sustaining levels above it, indicating a potential upward trend
Is it wise to book profits in Nifty50, MidCap Select? What analysts say (01-07-2024)
The NIFTY 50 Index is currently trading at 24,010.60. A sharp rally in the near term has pushed the index into an overbought zone
Similarity between stocks, India T20 World Cup win? Virender Sehwag answers (30-06-2024)
During a consolidation phase, the stock trades in a certain range with subdued volumes. It faces selling pressure on the upside, near the same levels where supply was witnessed earlier
Packaging equipment firm Mamata Machinery files IPO papers with Sebi (30-06-2024)
Packaging equipment manufacturer Mamata Machinery Ltd has filed preliminary papers with capital markets regulator Sebi to float an initial public offering (IPO).
The Gujarat-based company’s initial share sale is entirely an offer for sale (OFS) of 73.82 lakh equity shares by promoters, according to the draft red herring prospectus (DRHP).
Those selling shares under the OFS are Mahendra Patel, Nayana Patel, Bhagvati Patel, Mamata Group Corporate Services LLP, and Mamata Management Services LLP.
Since it’s an OFS, the company will not receive any proceeds from the public issue, and the entire fund such proceeds will go to the selling shareholders.
The company, in its draft papers filed on Friday, said that the objective of the initial share sale is to gain the advantages of listing the equity shares on the stock exchanges.
Additionally, the company anticipates that listing the equity shares will boost its visibility and brand image, provide liquidity to its shareholders, and establi
FPIs invest Rs 26,565 crore in Indian equities in June amid rebound in mkt (30-06-2024)
After two months of net outflow, foreign investors turned buyers in June, infusing Rs 26,565 crore in Indian equities, driven by political stability and a sharp rebound in markets.
Looking ahead, attention will gradually shift towards the budget and Q1 FY25 earnings, which could determine the sustainability of FPI flows, Vipul Bhowar, Director, Listed Investments, Waterfield Advisors, said.
According to the data with the depositories, foreign portfolio investors (FPIs) have made a net infusion of Rs 26,565 crore in equities this month.
This came following a net outflow of Rs 25,586 crore in May on poll jitters and over Rs 8,700 crore in April on concerns over a tweak in India’s tax treaty with Mauritius and a sustained rise in US bond yields.
Before that, FPIs made a net investment of Rs 35,098 crore in March and Rs 1,539 crore in February, while they took out Rs 25,743 crore in January.
The net outflow now stood at Rs 3,200 crore in the month, data with the depositories …
Mcap of 9 of top-10 most valued firms jumps Rs 2.89 trn, Reliance shines (30-06-2024)
Nine of the top-10 most valued firms together added Rs 2,89,699.42 crore in market valuation last week, with Reliance Industries emerging as the biggest gainer, in line with a rally in equities.
Last week, the BSE benchmark jumped 1,822.83 points or 2.36 per cent.
The BSE Sensex recorded the best monthly gain in June by climbing 7.14 per cent. The Sensex breached the historic 79,000 mark on Thursday.
While Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, Hindustan Unilever and ITC were the gainers, Life Insurance Corporation of India (LIC) emerged as the laggard.
The market capitalisation (mcap) of Reliance Industries jumped Rs 1,52,264.63 crore to Rs 21,18,951.20 crore.
TCS added Rs 34,733.64 crore taking its valuation to Rs 14,12,845.09 crore.
The mcap of ICICI Bank soared Rs 30,286.99 crore to Rs 8,44,201.88 crore and that of Bharti Airtel surged Rs 18,267.7 crore to Rs 8,22,530.35 crore.
The market valu
Macroeconomic data, global trends to drive markets this week: Analysts (30-06-2024)
Domestic macroeconomic data announcements, global trends and trading activity of foreign investors would guide market sentiments this week, analysts said.
After a record rally, markets may face volatile trends this week amid elevated valuations and investors would also keep a track of global oil benchmark Brent crude and rupee-dollar movement for further cues.
“Potential volatility in the stock market is anticipated this week. Elevated valuations remain a concern, with investors now focusing on monsoon progress and its impact on the rural economy. The upcoming Union Budget in July has become the next focal point, with high expectations for growth-oriented policies,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Market sentiment will be gauged by closely monitoring foreign and domestic institutional investors’ activity (FII and DII) and crude oil prices, he said.
On the global front, the US market has experienced some profit-booking from higher levels. Key ..
‘Boring’ bitcoin sends weekend trading volume to all-time lows: Research (29-06-2024)
Bitcoin trading gained notoriety for its “Wild Weekends,” where the digital currency would experience wide price fluctuations
Vraj Iron and Steel IPO ends with strong subscription (29-06-2024)
The offer received bids for 73.07 crore shares as against 61.38 lakh shares on offer.