As of October 23, futures open interest for four stocks in the NSE F&O pack surged, resulting in an overall increase of over 10% compared to the previous trade.
Posts in category Economic Times
Buy Union Bank of India, target price Rs 135: Motilal Oswal Financial Services (24-10-2024)
Motilal Oswal Financial Services recommends buying Union Bank of India shares with a target price of Rs 135. The bank reported strong earnings driven by other income and lower provisions, despite challenges in margins and deposit growth. Management expects stable NIMs but cautions about future slippages. Promoters hold 74.76%, FIIs 6.89%, and DIIs 11.16%.
Sona BLW shares in focus after approving Rs 1,600 crore acquisition of Escorts Kubota’s railway equipment biz (24-10-2024)
Sona BLW Precision Forgings (Sona Comstar) is acquiring Escorts Kubota’s Railway Equipment Division for Rs 1,600 crore on a slump sale basis. This strategic move aligns with Escorts Kubota’s focus on agriculture and construction sectors. The acquisition enhances Sona Comstar’s mobility offerings.
AU Small Finance Bank shares in spotlight after Q2 profit soars 42% YoY to Rs 571 crore (24-10-2024)
AU Small Finance Bank’s shares gain attention after reporting a 42% YoY rise in net profit for the September quarter, reaching Rs 571 crore, aided by the acquisition of Fincare Small Finance Bank. Despite asset quality deterioration, the bank’s net interest income and overall operating profits saw significant growth.
Stocks to buy or sell today: RIL, Tech Mahindra among top 9 trading ideas for October 24, 2024 (24-10-2024)
Nifty futures closed down 0.21% at 24,487. Options data indicates a broader trading range of 24,000 to 24,800, with immediate levels between 24,200 and 24,600. Analysts suggest potential weakness below 24,500, targeting 24,350 and 24,200, while resistance is at 24,600 and 24,750.
Coforge among 5 stocks showing RSI Trending Up (24-10-2024)
On October 23, five stocks from the Nifty-200 pack appeared in the RSI Trending Up scan, according to the stockedge.com data.
F&O Radar| Deploy Bear Put Ratio Spread in Nifty for potential benefit from bearish stance (24-10-2024)
Nifty faces strong resistance and has closed below 24,700, indicating short-term weakness. Immediate support is at 24,250, with resistance at 24,600. Overall market breadth remains weak, especially outside the BFSI sector. A bearish outlook is advised, with caution below 24,125.
SBI Life shares in focus after Q2 results. Should you buy, sell or hold? (24-10-2024)
SBI Life reported a 39% YoY growth in consolidated net profit, reaching Rs 529 crore in Q2 FY25. Net premium income rose 1% to Rs 20,266 crore, while first-year premium income grew 6% to Rs 4,915 crore. Analysts maintain positive ratings, with UBS at Rs 1,940 and Macquarie at Rs 1,830, citing strong growth drivers and value potential.
Hot stocks: Paytm, SBI Life, Sona BLW, Godrej Properties and TVS Motor (24-10-2024)
Brokerage firms CLSA and Investec have assigned buy ratings to Paytm and TVS Motor, respectively. Additionally, Macquarie and CLSA have given outperform ratings to SBI Life and Sona BLW, while Jefferies has issued a buy recommendation for Godrej Properties.
Add Supreme Industries, target price Rs 4,770: HDFC Securities (24-10-2024)
HDFC Securities recommends adding Supreme Industries stock with a target price of Rs 4,770. The current stock price is Rs 4,569.6. The company expects 14-15% growth in volume for FY25. Despite lower guidance for pipe volumes, capacity is planned to increase by 30%. The stock recently corrected by 10%, presenting an opportunity.