Domestic indices surged led by HDFC Bank, despite foreign outflows. Analysts suggest bearish trading strategies for Canara Bank and DLF based on technical indicators and derivative data.
Posts in category Economic Times
Stock market update: FMCG stocks up as market rises (23-10-2024)
The 30-share BSE Sensex was up 166.99 points at 80387.71
Lakshya Powertech shares list at 90% premium over IPO price on NSE SME platform (23-10-2024)
Lakshya Powertech’s shares debut on the NSE SME platform at a 90% premium, opening at Rs 342 against an issue price of Rs 180. Funds from the public offer will address debt repayment, working capital, and general corporate needs. The company operates in oil and gas, renewable energy, power, and industrial sectors.
Buy Bajaj Finance, target price Rs 8,600: HDFC Securities (23-10-2024)
HDFC Securities recommends buying Bajaj Finance with a target price of Rs 8600, as the company’s market price is Rs 6916.7. Bajaj Finance reported a 13% increase in net profit to Rs 4,014 crore in Q3 2024 but missed analysts’ expectations. The company is predicted to achieve ~23% AUM CAGR despite near-term asset quality challenges.
RVNL, Mazagon Dock among 140 multibagger stocks with higher retail holding versus institutional (23-10-2024)
Over 140 stocks that have more retail holdings than institutional in the past year have delivered significant returns. Nine state-run companies and numerous private sector companies are among these multibaggers. Experts advise caution as many lesser-known stocks have liquidity risks. Some stocks like Kaycee Industries and Cropster Agro are recommended for exit.
FIIs hike stake in 8 out of 10 IT stocks to play Fed rate cut cycle but retail investors left behind (23-10-2024)
FIIs have increased their stakes in 8 out of 10 top Indian IT companies to capitalize on the US interest rate cut cycle. Infosys, TCS, Tech Mahindra, HCL Tech, and Wipro saw notable FII stake hikes. While mutual funds also increased their stakes in several companies, retail investors reduced their holdings.
Buy Persistent Systems, target price Rs 6,300: Motilal Oswal Financial Services (23-10-2024)
Motilal Oswal Financial Services recommends buying Persistent Systems with a target of Rs 6,300. The current market price is Rs 5424.6. Persistent Systems reported a consolidated total income of Rs 2943.67 crore for the quarter ending 30-09-2024 and a net profit of Rs 325 crore. Promoters hold 30.66% and FIIs hold 23.34%.
Gold Price Today: Yellow metal opens flat at Rs 78,545/10 gm, silver nears Rs 1,00,000/kg (23-10-2024)
Gold December futures at MCX opened slightly lower at Rs 78,545, while silver dropped to Rs 99,505. Market volatility persists due to U.S. elections and geopolitical tensions, with bullish trends expected.
Sensex jumps over 100 points, Nifty tops 24,500; HDFC Bank, Bajaj twins lead gains (23-10-2024)
Domestic equity indices Sensex and Nifty50 rebounded on Wednesday, supported by HDFC Bank and Bajaj stocks, despite foreign outflows.
Adani Energy shares tumble 4% on Sebi notice for alleged misclassification of shareholding (23-10-2024)
Adani Energy Solutions shares are under scrutiny following the receipt of a show-cause notice (SCN) from the Securities and Exchange Board of India (SEBI) during the September quarter, related to the wrongful categorization of shareholders. The company disclosed this in its exchange filing for the quarter but did not provide further details.