Big movers on D-Street: What investors should do with KIMS, Nykaa and M&M
Sensex and Nifty saw significant declines. Stocks KIMS (+3%), Nykaa (+0.11%), M&M (-6.69%). Analyst Viral Chheda from SSJ Finance recommends: KIMS bullish, needs close above 2360; Nykaa in rally since April 2023, consolidating 120-200; M&M facing profit booking after uptrend since November 2021. Trading resumes today. Source: Economic Times.
Hot stocks: Brokerage view on RIL, M&M, ICICI Bank, Ambuja Cements and IndiGo
Jefferies reaffirmed a ‘buy’ rating on RIL (Reliance Industries Limited) with a target price of Rs 3,580. They foresee the possibility of Jio, RIL’s subsidiary, going public in calendar year 2025. According to Jefferies, choosing the IPO route could offer better control, although it would require significant retail participation to overcome the holdco discount.
F&O stocks to buy today: Havells, Exide among top 6 trading ideas
Indian market set to open higher following global cues. FIIs and DIIs were net buyers on Wednesday. Technical analysis points to resistance at 24,410 level on Nifty50. Experts recommend stocks like Havells India, Exide Industries, and HCC for short-term trading.
In equity’s Indian summer, IPOs and investors make hay in 2024
The IPO market in 2024 has seen strong investor interest with 38 companies listing at an average gain of 25%. While some stocks like Jyoti CNC Automation and Exicom Tele-Systems have surged 100-300%, others are trading below offer price. Major IPOs from Bharti Hexacom and Aadhar Housing Finance have performed well.
Paint companies sparkle on price rise, but ‘gains could be short-lived’
Paint shares surged due to price hikes, led by Indigo Paints at 10.7%. Analysts foresee short-lived gains and pressure from Birla Opus. Nomura views price hikes favorably. Despite underperformance in 2024, Q1 earnings may be muted, keeping stocks range-bound. Anand Rathi sees opportunities. Elara Capital cites margin pressure and muted FY25 earnings, advising strategic investment.
Over 1,000 securities not to be accepted as collateral from Aug 1
National Stock Exchange updates collateral criteria, leading to exclusion of stocks like Adani Power and Yes Bank. Over 1,000 securities affected. Changes in effect from August 1. Investors advised to review their portfolios.
Stocks in news: Nykaa, TCS, Tata Elxsi, Glenmark Life, YES Bank, Siemens
Markets fell half a percent. TCS, Tata Elxsi, Anand Rathi Wealth, and Akme Fintrade Q1 results are in focus. Canada Pension Plan sold Nykaa shares at Rs 174 apiece. Glenmark promoters to sell a 7.85% stake. Moody’s affirmed YES Bank’s Ba3 rating. Siemens and RVNL won the Bangalore Metro Rail Corp project. Kesoram posted a […]
Asian stocks echo US rally ahead of inflation data: Markets wrap
Tech rally lifted Asian stocks, S&P 500, and Nasdaq 100; Taiwan Semiconductor strong. Powell hinted at rate cuts; core CPI to rise. China tightened short selling. Inflation data awaited. Japan orders, Thai confidence, Malaysia, and South Korea policies in focus. Fed cuts in 2024 expected. Global equities hit record, yen stable, Apple improved from 2023.