7 FII-backed penny stocks rally up to 60% in FY24. Time to watchlist them?
An analysis of institutional ownership in penny stocks, as defined by those with market capitalisation below Rs 1,000 crore and share price below Rs 25, shows that FIIs hold over 10% stake in a dozen such counters. Out of them, 7 have given double-digit returns in FY24 so far.
Gland Pharma shares zoom 20% as Q1 growth triggers upgrades
Global brokerage firm Jefferies upgraded Gland Pharma’s stock to buy from underperform with an increased price target of Rs 1,640 from Rs 1,065 earlier. Bernstein also gave an outperform rating on Gland Pharma, saying that the Q1 numbers point towards early signs of revival in base business.
Stocks to buy today: LIC Housing, SBI Life among 8 short-term trading ideas by experts
On the weekly options front, the maximum Call OI is placed at 20,000 and then towards 19,800 strikes while the maximum Put OI is placed at 19,500 and then towards 19,400 strikes.
Hot Stocks: Brokerages on Godrej Consumer, Zomato, Ramco Cement, Britannia and Torrent Pharma
JPMorgan maintained an overweight rating on Godrej Consumer but raised the target price to Rs 1135 from Rs 1075 earlier. The company reported robust volume-led topline growth for the India business. In Indonesia, structural initiatives drive topline recovery.
At multi-year highs: Cyient among 8 stocks that saw 5-year swing high breakouts
A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond.
Golden Crossovers: Sobha among 4 stocks signalling further bullishness
Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.
ETMarkets Smart Talk- Global macro, FII flows among top 5 factors that will drive markets: Kedar Kadam
When you are in your nervous 90’s, expect bouncers and choose your shots carefully. The domestic equity markets have had a dream run over the past few months, buoyed by healthy corporate earnings growth, reasonable valuations, resilient domestic macros, positive global investor sentiment, and the influx of FII and DII money.
Big Movers on D-Street: What should investors do with M&M, SBI, ABFRL?
The price action on the daily timeframe evinces a tepid pullback from the pivotal support near 1422 levels. The price action has formed a relatively smaller but constructive base and is attempting to fill the former gap-down area.
Another Jhunjhunwala long bet blooms with Concord Biotech offer
The ace investor often called India’s Warren Buffet, first invested in Concord in 2004 and later helped the company’s founder in buying back the company from pharma major Mylan in 2009.
VRL’s stake sale in Vedanta not enough for stable rate outlook: S&P
S&P Global Ratings has deemed Vedanta Resources’ plan to sell its Indian-listed subsidiary stake, Vedanta Ltd, a credit-positive move but not enough to keep its rating outlook stable. The agency has changed Vedanta Resources’ outlook to “negative” from “stable” due to heightened refinancing risks, weak cash flow from its operations, and external financial challenges.