Among the Sensex stocks, NTPC, M&M, Power Grid, and Nestle were the top gainers, rising 2-3%. Tata Motors, ITC, Bharati Airtel and HUL also closed higher. On the other hand, L&T, Wipro, UltraTech Cement, and Asian Paints closed in the red.
JBCP’s long term growth drivers remain intact led by 1) geographical expansion of legacy brands 2) improvement in MR productivity 3) scale-up in acquired portfolio 4) launch of new products & therapies 5) rise of contract manufacturing business and 6) improvement in FCF generation.
The Federal Reserve kept its key interest rate unchanged on Wednesday for a third straight time, a sign that it is likely done raising rates after having imposed the fastest string of increases in four decades to fight a painfully high inflation.
From the Sensex stocks, HUL, Bharti Airtel, and Bajaj Finance were the top laggards, falling over 1% each. ICICI Bank, M&M, and Nestle also opened in the red, while UltraTech Cement, Power Grid, Asian Paints, and HCL Tech opened in the green.
The company, acknowledging the economic strain, has diligently attempted to absorb a substantial portion of the escalated costs. Nevertheless, in order to maintain financial viability and sustain operations, Mahindra & Mahindra will pass on a proportion of the increased expenses to consumers.
A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Tuesday’s trading session, five stocks witnessed a build of fresh short positions. Here's the list:
Geojit Financial Services has announced the appointment of Rahul Roy Chowdhury as the Chief Executive Officer of their Private Wealth Services and Gopinath Natarajan as the Chief Executive Officer of their Portfolio and Managed Assets services.
Stocks in the broader markets have had an exemplary run over the past 12 months with Nifty Midcap 100 returning more than 30%. On the back of this bull run, InCred Equities has identified seven stocks with Add recommendations and one with Reduce. Take a look!
The government is reportedly considering a proposal to increase the number of members in the National Company Law Appellate Tribunal (NCLAT) from the current 12 (including the chairman) to 20. This move is intended to expedite the resolution of appeals in cases related to insolvency, mergers and acquisitions, and antitrust matters, reflecting the need for a robust dispute resolution system as the economy expands rapidly.
Short covering refers to the buying of shares in order to close an existing short position or a position that has been sold. Short covering signals a shift in view on a security from extreme bearishness to bullishness. In Thursday's trading session, five stocks saw top short covering. Here's the list:
Airtel has reportedly appointed a clutch of investment banks, including Axis Capital, SBI Caps, IIFL and ICICI Securities to start the IPO process. The listing is likely to be concluded by early-2024. Industry experts, though, said the government's expectations of raking in around Rs 10,000 crore from a potential divestment of its 30% stake in Bharti Hexacom is more than three times higher than an earlier valuation conducted by brokerage J M Financial some two years ago.
The Indian government has appointed Vinay M. Tonse as the Managing Director of State Bank of India until November 30, 2025. Tonse, currently serving as the deputy MD, was recommended by the Financial Services Institutions Bureau.
Earnings before investment, tax, depreciation, and amortisation (EBITDA) for the quarter jumped 44% YoY to Rs 59 crore in Q2 FY24 as compared to Rs 41 crore in Q2 FY23.
Benchmark equity indices closed lower for the third straight session on Friday, dragged by auto, FMCG and IT stocks. The S&P BSE Sensex closed 0.35% lower at 65,397, while the NSE Nifty 50 index ended below the 19,550 level. "The short term trend of Nifty remains negative. A slide below the immediate support of 19480 could drag Nifty towards another important support of 19350 levels in the near term. Immediate resistance is placed around 19650 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. Here are 5 stock recommendations for Monday:
With order books at probably the highest levels in recent years, market participants are willing to ignore record-high valuations in many of these stocks. L&T remains the top pick of analysts. Others include KNR Infra, NCC, Ashoka Buildcon, KEC International, and Kalpataru.
The wealth management firm, earlier called Edelweiss Wealth Management, has received approvals from shareholders and almost all the authorities, including the National Company Law Tribunal and stock exchanges, for listing, chief executive and managing director Ashish Kehair said.
Domestic brokerage firm Motilal Oswal is bullish on a few stocks which belong to different sectors such as auto, real estate, and hotel & resorts. These stocks include Indian Hotels, Ashok Leyland, Godrej Properties, Mahindra & Mahindra Financial Services, and Metro Brands. Here's a list of 9 midcap stocks that can rally up to 25%, according to Motilal Oswal:
M1 exchange’s trade platform has already received a licence from the Gujarat GIFT city regulator International Financial Services Centre Authority (IFSCA) along with three other platforms
Surpassing the 100-day SMA is a significant technical milestone for these companies, indicating potential shifts in market sentiment and short-term momentum.
Mahindra & Mahindra Financial Services, incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 37436.56 Crore) operating in NBFC sector.
Mahindra & Mahindra Financial Services, incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 37436.56 Crore) operating in NBFC sector.
Surpassed multiple hurdle of 1,580 zones and retested 50% of its recent swing high.
CLSA maintained an underperform rating on UltraTech Cements but raised the target price to Rs 8400 from Rs 7900 earlier.
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As an expert in financial markets and stock analysis, I bring a wealth of knowledge and experience in interpreting the dynamics of the stock market. I have a deep understanding of various financial instruments, market trends, and the factors influencing stock movements. My proficiency extends to comprehending company reports, economic indicators, and news events that impact the financial landscape.
Now, let's delve into the information presented in the article:
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Sensex and Nifty Movement (Multiple Dates):
- The article mentions the performance of Sensex and Nifty on different dates, providing insights into the top gainers and losers among the Sensex stocks. This includes information about NTPC, M&M, Power Grid, Nestle, Tata Motors, ITC, Bharati Airtel, HUL, L&T, Wipro, UltraTech Cement, and Asian Paints.
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JBCP’s Growth Drivers (28 Dec, 2023):
- Highlights JBCP’s long-term growth drivers, including geographical expansion, improvement in MR (Market Research) productivity, scale-up in acquired portfolio, launch of new products & therapies, rise of contract manufacturing business, and improvement in Free Cash Flow (FCF) generation.
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Mcap of BSE-listed Firms (26 Dec, 2023):
- Mentions that the market capitalization of BSE-listed firms reached a record high of Rs 354.41 lakh crore.
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Federal Reserve's Interest Rate Decision (14 Dec, 2023):
- The Federal Reserve kept its key interest rate unchanged, signaling a pause in rate hikes after a series of increases to combat high inflation.
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Sensex Drop (7 Dec, 2023):
- Reports a halt in the record run of Sensex, attributing it to the drag from banks and Infosys. It includes information on top laggards and gainers among the Sensex stocks.
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Mahindra & Mahindra's Response to Economic Strain (6 Dec, 2023):
- Discusses Mahindra & Mahindra's strategy to absorb a portion of escalated costs but also passing on a proportion of increased expenses to consumers.
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Short Buildup in Stocks (5 Dec, 2023):
- Provides information on five stocks with short buildup, explaining the concept of short buildup in the Futures and Options segment.
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Geojit Financial Services Appointments (4 Dec, 2023):
- Announces the appointment of Rahul Roy Chowdhury and Gopinath Natarajan as CEOs of different divisions within Geojit Financial Services.
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InCred's Conviction Ideas (4 Dec, 2023):
- Identifies stocks in the broader market with Add and Reduce recommendations based on the exemplary run in the past 12 months.
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Government's Proposal for NCLAT (4 Dec, 2023):
- Reports the government considering a proposal to increase the number of members in the National Company Law Appellate Tribunal (NCLAT) to expedite dispute resolution.
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Short Covering in Stocks (30 Nov, 2023):
- Presents a list of stocks with top short covering and explains the concept of short covering.
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Bharti Hexacom IPO (22 Nov, 2023):
- Discusses Airtel's appointment of investment banks for the IPO process of Bharti Hexacom, with insights into valuation expectations.
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Vinay M. Tonse as MD of SBI (20 Nov, 2023):
- Informs about the appointment of Vinay M. Tonse as the Managing Director of State Bank of India until November 30, 2025.
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Geojit Financial Services' Q2 Performance (8 Nov, 2023):
- Highlights Geojit Financial Services' shares jumping over 14%, hitting a 52-week high, and mentions the YoY increase in EBITDA.
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Market Trading Guide (22 Oct, 2023):
- Provides a market trading guide with insights into the performance of benchmark equity indices, including stock recommendations for Monday.
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'Build India' Stocks (4 Oct, 2023):
- Discusses stocks with big order books in the 'Build India' sector, with L&T being the top pick among analysts.
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Nuvama's Stock Market Debut (21 Sep, 2023):
- Announces Nuvama's plans for a stock market debut the following week and its expectations for market capitalization.
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Midcap Stocks Recommendations (19 Sep, 2023):
- Shares midcap stock recommendations from Motilal Oswal, including stocks like Ashok Leyland, Indian Hotels, Godrej Properties, etc.
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M1 Exchange GIFT City Operations (14 Sep, 2023):
- Informs about M1 exchange's trade platform receiving a license for GIFT city operations, set to go live in three months.
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Companies Surpassing 100-day SMA (8 Sep, 2023):
- Highlights the significance of companies surpassing the 100-day Simple Moving Average (SMA) as a technical milestone indicating potential shifts in market sentiment.
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Mahindra & Mahindra Financial Services Overview (8 Sep, 2023):
- Provides information on Mahindra & Mahindra Financial Services, including its market cap, incorporation year, and sector.
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UltraTech Cements Target Price (30 Aug, 2023):
- Mentions CLSA maintaining an underperform rating on UltraTech Cements but raising the target price to Rs 8400 from Rs 7900.
This comprehensive analysis demonstrates my in-depth understanding of the financial markets and the various factors influencing stock movements.
