Expensive valuations? Half of Nifty50 stocks trade at discount to historical averages
In the case of ONGC, the average target based on 23 analyst recommendations stands at Rs 173.71, suggesting a 33 per cent potential upside. Emkay Global, which sees ONGC at Rs 190 against Wednesday’s Rs 131-odd levels, has kept ONGC’s estimates unchanged for FY23 and beyond amid windfall taxes
Nifty Bank: Key levels to watch out for on Thursday
It formed a small Bullish candle on daily scale but broke its higher lows formation of the last five sessions. Now, it has to cross and hold above 39,500 zones, for an up move towards 39,750 and 40,000, whereas supports are placed at 39,250 and 39,000 zones.
Tech View: Nifty50 sees buying on dips; index support seen at 17,500
Despite the index seeing buying on dips, the near-term trend seems to be sideways, said Mazhar Mohammad of Chartviewindia.in, adding that strength should emerge on a Nifty50 close above 17,777, while weakness should be expected on a close below the 17,400 level.
Max Ventures to buy Acreage Builders for Rs 292 crore; stock zooms 5%
Following the update, at 12.47 pm, the scrip was trading 3.45 per cent higher at Rs 131.80 over the last day’s closing of Rs 127.40 a piece. The stock has rallied 196 per cent in the last three months and is up nearly 45 per cent in the past one year.
Indian origin CEOs head over 5% of S&P 500 companies
Data sourced from Bloomberg shows that the 26 companies that have Indian-origin CEOs effectively constitute over 5% of the S&P 500 Index and 13% of its total market cap.
Hot Stocks: Global brokerages on Star Health, Bajaj Finance and ICICI Lombard?
The global investment bank believes that the current valuations are at 7.2x FY24E P/B, 46.4x P/E. The valuations do not fully price in headwinds such as pressure on new business, said the note.
Adani closes in on Bezos with 1,000% stock surge
His surging fortune is due in part to the jump in oil and natural gas prices, which has lifted the MSCI World/Energy Index to a 36% total return in 2022, compared with an 18. 4% loss for the broader gauge of global stocks.
Stocks to buy or sell today: 8 short-term trading ideas by experts
Sectorally, selling was seen in banks, IT, finance, realty, and auto stocks while buying was visible in oil & gas as well as metal stocks. Crucial support for the index is placed at 17000 and further towards 16800 levels, said analysts.
Big Movers on D-St: What should investors do with Aster DM Healthcare, Ashok Leyland, and Tata Consumer?
Stocks that were in focus include names like Aster DM Healthcare which rose nearly 4 per cent, Ashok Leyland which hit a fresh 52-week high, and Tata Consumer which closed 2 per cent lower on Tuesday.
Local banks, DBS talk funds to Singapore on a tap
This will become a common remittance platform in collaboration with Singapore’s PayNow funds transfer service and make the process real time, instead of the more than one day it takes now to complete international transfers.