Hot stocks: Brokerage view on Kotak Mahindra Bank and PVR Inox

Nuvama advises holding Kotak Bank with a target of Rs 1,650. Despite a NIM decline from higher CoF and less unsecured loans, PAT rose 51% QoQ with a post-tax gain. RBI gaps are being addressed, and the CEO aims for mid-teens growth in unsecured loans.

Early birds report muted profit growth for April-June

The first-quarter results season shows double-digit revenue growth, but profit growth slows down. Banks and finance companies lead the way with strong performances. Stay updated as more companies announce their results in the coming weeks.

FPIs go big on capital goods, consumer discretionary firms

Foreign investors are increasingly favoring India’s discretionary consumption and capital expenditure sectors, with a significant rise in equity allocations. Sectors like capital goods, auto, and telecom are attracting substantial investments, offsetting outflows from other sectors like financial services and FMCG.

MFs cut equity buys in July with Budget in focus

Mutual fund managers have slowed down equity purchases in India in July due to caution before the budget and rich valuations. Despite record inflows, they are waiting for policy clarity. Foreign investors continue to pump money into Indian stocks, making it a key factor in the market.

Tech View: Nifty may consolidate in 24,200-24,800 range

Stock market analysts foresee potential volatility before the Union Budget, with Nifty expected to consolidate or face a deep correction. Traders advised to be cautious and maintain strict stop-loss strategies. Investors suggested to watch market movements closely and consider booking profits in specific stocks.

Unease spreads through D-Street over ‘regulatory risks’

Investors on Dalal Street are concerned about regulatory risks as authorities discuss curbing speculative trading. With the budget approaching, there is debate over potential tax changes on equities. Market shows mild signs of worry, but experts suggest a relief rally if current tax structure remains unchanged.

RBI steps up measures to drain out excess liquidity

RBI takes measures to manage liquidity as foreign inflows increase post JP Morgan index inclusion. Actions include selling government bonds and conducting sell-buy swaps in the forwards market. These steps aim to control rupee appreciation and excess liquidity in the banking system.

Stocks in news: IDBI Bank, Suzlon Energy, RIL, HDFC Bank, Kotak Bank, JSW Steel

Profit booking causes dip in equity indices after rally. IDBI Bank, Suzlon Energy, RIL, HDFC Bank, Kotak Mahindra Bank, and JSW Steel in focus. RIL’s profit down 5%. Major updates from YES Bank, Vedanta, JK Cement, HDFC Life, Patanjali Foods, Zaggle Prepaid, Jubilant Pharmova, EMS JV. Kotak Mahindra Bank posts Rs 6,250 crore profit.

Dollar edges lower, Asian stocks slip following Biden’s election exit

Biden’s endorsement of Harris and China’s central bank rate cut caused the dollar to slip and Asian stocks to fall. The US dollar fell 0.2%, the Mexican peso climbed. Stocks in Japan and South Korea dropped. PBOC’s reverse repo rate was lowered to 1.7%. Oil and gold prices increased. Focus points include Europe’s economic data, […]