FINANCIAL STOCKS
Sensex, Nifty rise at open tracking positive cues from Asian peers
By 9:17 am, Indian benchmark indices saw gains with Sensex at 78,129 and Nifty50 at 24,384. Market rises were led by TCS, ICICI Bank, Infosys, Tata Steel, Titan, SBI, and HCL Tech. In contrast, HDFC Bank, Ultratech Cement, Power Grid, M&M, and Nestle India experienced declines. TCS is set to report June-quarter earnings today.
Japan's Nikkei rises to record high as financials and heavyweights climb
Japan's Nikkei hit 41,889.16 amid a financial stock rally. Fast Retailing, SoftBank Group rose; Tokyo Electron recovered. Financials led as the Bank of Japan met during political uncertainty. Analysts see July earnings boosting equities despite bond yield risks. The Nikkei closed at 41,831.99, Topix at 2,909.20. Insurance firms rose 3.5%, Kokusai Electric fell 7.2%, Recruit Holdings up 3.
M&M, bank stocks halt D-Street's record run! Sensex tanks 800 points, Nifty below 24,200
Indian indices hit highs due to Maruti Suzuki but fell after Powell's US Congress remarks, affecting M&M, Axis, and HDFC Bank. Nifty Bank fell; crude oil prices impacted. FIIs bought Rs 314 crore in equities. Delta Corp dropped; RVNL rose. SIP inflows and Asian markets offered a broader context.
Rice exporters rally over 9% amid likely easing of curbs
The government's plan to relax rice export restrictions led to share surges in Kohinoor (9.6%), Chaman Lal (8.8%), KRBL (7.1%), and LT Foods (5.96%), aiming to avoid an October glut and tackle food inflation. Key points include Minimum Export Price, sector rotation, rural focus, biogas policy, Russia's impact, Geojit Financial Services, agricultural waste, and the agro-economy.
Sensex rises over 200 pts, Nifty above 24,350 in hopes of dovish stance from Fed
Indian indices rose as markets expected dovish signals from U.S. Fed Chair Powell. Sensex up 223 points to 80,184, Nifty50 up 59 points. Key gainers included Maruti Suzuki, M&M, Adani Ports, while Tech Mahindra, JSW Steel fell. Soft inflation increased odds of U.S. rate cut to 74%. Century Textiles rose 4%. Budget, Q1 results closely watched.
GIFT Nifty signals a negative start for D-Street. Here's the trading setup for today's session
Benchmark indices closed with minor gains, marking a positive week. Analysts expect Q1FY25 earnings and inflation cues to guide markets. Gift Nifty signals a negative start. India VIX fell 1.24%. Mixed global trends; S&P 500 futures down. Rupee at 83.49 vs. USD. Brent crude at $86.65. F&O ban includes PEL, Bandhan Bank. Tropical Storm Beryl impacts oil supply.
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JM Financial board okays plan to consolidate debt, distressed credit business under one platform
JM Financial will increase its stake in JM Financial Credit Services to 89.67% and JMFCSL will acquire 71.79% stake in JM Financial Asset Reconstruction Company from JMFL for Rs 856 crore.
Stock Radar: Multibagger in a year! REC breaches 3-week consolidation; time to buy?
The stock price surged 242% from Rs 164 on July 4, 2023, to Rs 562 on July 3, 2024, reaching a record high of Rs 607 on June 3, 2024. However, it couldn't sustain the momentum and consolidated around Rs 500 for three weeks before finally breaking out this week.
Brokers' MTF hits record Rs 73,600 crore amid market highs, surging retail participation
Sebi's MTF framework mandates collateralising existing shares. Kotak Securities cautions investors on MTF investments amidst surging margin funding in anticipation of Modi 3.0 budget.
JM Financial cuts Zomato's target price by 8% on ESOP costs
JM Financial has lowered Zomato's target price to Rs 230 from Rs 250, noting that ESOP costs are no longer considered one-off expenses following the approval of a new policy. The formulation of this policy indicates that ESOP costs will be treated as regular business expenses, expected to recur.
What to buy with D-St at lifetime high? Keep good company, go for largecap stocks
Reflecting on past milestones like 50,000 and 75,000 reveals them as profitable buying opportunities, with investors earning double-digit returns even from earlier 'record high' levels. The recent 10,000-point increase from 70,000 to 80,000 signifies a 14.4% growth, while reaching 90,000 from 80,000 will necessitate a 12.5% gain. Maintaining a consistent investment approach remains wise, irrespective of market highs.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Indian equities surge with Nifty crossing 24300 and Sensex breaching 80000. Tech view sets 24900 as the next target. Dollar weakens, oil prices fall, and rupee settles lower. FII net long increases to Rs 3.78 lakh crore. DIIs buy shares worth Rs 924 crore.
Sebi's levy order likely to erode Rs 2,000 crore from discount brokers' income, hit client base
Several brokerage companies, including IIFL Securities and Motilal Oswal Financial Services, saw share declines of 3% to 7% due to the regulatory order affecting brokerages, potentially leading to adjustments in zero-payment plans or increased rates.
3 reasons why bank and financial services stocks may bounce back
Nifty Financial Services has typically outperformed broader market indices, but has struggled in recent years, underperforming in four of the last five calendar years, including year-to-date 2024.
Wild swings in Vashu Bhagnani stock raise eyebrows
Stock turmoil and financial rumours haunt Vashu Bhagnani Industries, as share prices plummet amid speculation of delayed salary payments and property sell-off.
U-Turn: Sensex, Nifty erase gains after hitting record highs
From the Sensex pack, Infosys, HCL Tech, TCS, and Bharti Airtel opened higher, while Tata Motors, Kotak Mahindra Bank, Bajaj Finance, and ICICI Bank opened in the red.Shares of Kotak Mahindra dropped 2% after US short-seller Hindenburg said that the lender created and oversaw a fund that Hindenburg investors used to short Adani stocks.
Infosys, Tech Mahindra among 6 IT stocks that could surprise positively in Q1 results: JM Financial
Stating that Tech Mahindra remains a ‘buy' on turnaround hopes while KPIT Technologies and Tata Technologies are structural bets on auto ER&D theme, domestic brokerage firm JM Financial believes that Q1 results for the IT sector could positively surprise the street.
Inox Wind, CE Info Systems among 10 stocks that saw recent coverage by brokerages
In the last week, quite a few companies came on the radar of various brokerages, which initiated coverage on the same. Brokerages like Goldman Sachs, Bernstein, Nuvama initiated coverage on stocks like TBI Tek, CE Info Systems and PNB Housing Finance among others with upside potential of up to 34%. Below is the list of recent coverages:
Corporate Watch: M&M, Tata Comm among 36 stocks in spotlight this week
Welspun Enterprises and DJ Mediaprint declared dividends with ex-dates on July 5. Escorts Kubota also set July 5 as the ex-date for dividend issuance. Several other companies like Tide Water, SKF India, and Balaji Amines have dividend and ex-date announcements in the same week.
Nifty bulls await directional move, auto stocks in focus
Auto stocks were in focus amid the release of June month sales numbers. Shares of Samvardhana Motherson, Hero Moto, Bharat Forge, Maruti Suzuki, and Bajaj Auto rallied over 1% each. Within the Nifty50 pack, JSW Steel, and Bharti Airtel rallied over 1%, while NTPC, Power Grid, and Apollo Hospitals fell up to 2%.
3M India, M&M among 25 stocks that will trade ex-dividend this week. Do you own any?
Dividends are distributed to shareholders whose names are listed in the company's records on the record date. With the adoption of the T+1 settlement system, the record date and ex-dividend date are usually identical, except when market holidays occur immediately following the ex-date. Investors who buy the stock at least one day before the ex-date qualify for dividends, as settlement happens on the ex-date.
Midcaps stocks for long term investors: 5 stocks from different sectors with right financial & growth matrix and upside potential of up to 49%
Buying quality stocks should be one of the basic principles while investing in markets. But when one is buying mid-cap stocks this principle becomes even more important for multiple reasons. At this point of time, when valuations are high and small corrections can lead to strong negative reactions in stock prices. So, while capital gains is the objective, never lose the perspective of protecting capital from sudden shocks. Now how does one do it? Look at the underlying business which is best understood by going through its annual report and look at a certain basic ratio in order to figure out how much return that underlying business can generate in best and worst case.
Hot Stocks: 3 stocks that may give returns between 15-31%
A look at some of the latest stock recommendations by analysts. These stocks are expected to return between 15% and 31% as per analysts’ price targets.
Extent and frequency of tariff revisions crucial for financial health of telcos
Following the increase in tariffs, the stock of Reliance Industries rose by 2.3% on Friday to close at Rs 3,131.9. On the other hand, stocks of Bharti Airtel and VIL were under pressure, falling by 1.8% to Rs 1,445.4 and by 3.4% to Rs 17.9 in that order amid profit booking after a recent surge in their prices.
Sebi approves stricter norms for inclusion of individual stocks for derivative trading
The criteria for exit would apply to only those stocks which have completed at least six months from the month of entry into the derivative segment. while for existing stocks in the derivatives segment, the exit criteria on the basis of performance would be applicable three months after the date of issuance of circular, Sebi said.
JM Financial initiates coverage on MapmyIndia, sees upside potential of 28%
MapmyIndia, backed by JM Financial, aims for substantial revenue growth driven by new geospatial policies and diverse revenue streams.
Hot Stocks: 3 stocks that may give returns between 16-33%
Shivalik Bimetal Controls, Ethos, and PNB Housing Finance show promise with strategic initiatives for growth and margin sustenance despite challenges. Analysts recommend these stocks with potential upsides ranging from 16% to 33%.
JM Financial initiates coverage on this small cap stock, views upside potential of 20%
Shivalik Bimetal Controls, analyzed by JM Financial, shows potential in niche markets with diverse growth avenues, including smart metering, EVs, and customized products. The company's expansion into shunt resistors and focus on global opportunities signal a promising future amidst challenges like market delays.
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