Momentum Pick: High-beta Adani Power shares rally 15% in 3 sessions. Should you buy?
Adani Power shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) and Monday’s move has taken the stock into an overbought zone. The day’s RSI and MFI stood at 78 for both indicators, as per data available on Trendlyne.
Aeroflex Industries IPO sails through within one hour of opening
Analysts gave a thumbs-up to the issue as it offers a favourable risk-reward ratio for long-term investors, given its unique business model, decent return ratios and margins. “We are confident that Aeroflex Industries will deliver consistent performance and provide an excellent investment opportunity for investors with a long-term horizon,” said Profitmart Securities.
Adani Enterprises shares rise over 3% after promoters hike stake by 2.2%
At the end of the June quarter, the promoters held a 67.65% stake in Adani Enterprises, with the remaining shares owned by public shareholders, including the US-based investor firm GQG Partners, which holds 2.67%.
Rs 1 lakh crore-umbilical cord links fate of Jio Financial shares with RIL
As part of the demerger, JFSL has received 413 million treasury shares or 6.1% of the total share capital of RIL. At the current market price, the value of these shares is about Rs 1 lakh crore.
SBI MF turns to cash on bets RBI will hike rates
SBI Funds Management Pvt. has been trimming the duration of its portfolio since May and wants to keep the cash handy for better investment opportunities as a sudden spike in inflation sparks debate on odds of more rate hikes. Yields on India’s benchmark 10-year bond are on a rise, advancing 26 basis points from their […]
Hot Stocks: Brokerages on Bajaj Finance, HDFC Bank, Bharat Forge and CarTrade
BofA Securities maintained a buy rating on Bajaj Finance with a target price of Rs 8750. The company has multiple levers to support growth. The focus is on diversification. It has taken proactive action on unsecured growth, and the FY24 target remains intact.
Golden Crossovers: Jubilant FoodWorks among 6 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.
Big Movers on D-Street: What should investors do with PNB Housing Finance, Trident and Tanla Platforms?
A breakout from a descending channel can be visible on a weekly time frame. However, confirmation on a closing basis will be awaited. The big volume bar from short-term EMA support and the MACD indicator getting into the bull zone calls for a trend reversal.
Stocks to buy today: Axis Bank, GAIL among top 9 trading ideas
India VIX was down by 1.48% from 12.14 to 11.96 levels in the previous trading session. Volatility rose above 12.5 during the day and later cooled off and comforted the bulls.
ETMarkets Smart Talk-New-age businesses are key for growing Indian markets and economy: Prashant Bisht
We’d say the rate action was largely on expected lines, the Reserve Bank of India hiked the interest rate by 250bps since the tightening cycle began in May 2022.