Tech View: Nifty making higher highs on daily, weekly charts. Here’s how to trade on Thursday
Nagaraj Shetti of HDFC Securities believes the Nifty’s short-term outlook remains positive, but with limited movement. The market is poised to test the resistance level of 24,960, established during the opening down gap on August 2nd. If successful, the Nifty could reach 25,100 within the next week. Immediate support is currently at 24,650.
These 7 FMCG stocks hit 52-week highs, rally up to 35%
India’s benchmark index, the Sensex, gained around 102 points on Wednesday, closing at 80,905. During this rise, seven stocks in the BSE FMCG index reached their highest prices in the past year.
Sebi slaps penalty of Rs 11 lakh on IIFL Securities in violation of stock brokers’ norms
IIFL Securities has been imposed with a Rs 11 lakh penalty by Sebi for breaching stock broker regulations. An inspection in August 2022 uncovered lapses such as faulty fund settlement and inaccurate retention statements.
OMCs well placed as there is growth potential in new avenues and a surety of existing cash: MK Surana
MK Surana, Former CMD of HPCL, discussed the favorable position of oil marketing companies with crude prices below $80 and improving margins. He further noted their transition to new growth areas and partnerships with EV companies, predicting promising prospects over the next three to five years despite ongoing pricing challenges.
Suzlon Energy shares: Smart retail investors book profits as big boys buy
Suzlon Energy Share Price: Retail investors booked profits in Suzlon Energy shares in the June quarter, while FIIs and mutual funds raised their holdings. The stock surged impressively, gaining 90% since April and over 300% in the past year. Suzlon aims to strengthen its presence with a major acquisition in Renom Energy Services.
Reliance Power shares surge 21% in 4 days. Here’s why
Reliance Power’s stock rose by 21.5% in four days, reaching Rs 36.17, amid talks of Adani Power acquiring its Butibori Thermal Plant for Rs 2,400 crore to Rs 3,000 crore. The move would support Adani’s expansion plans amid rising electricity demand in India. Adani Power shares remained stable at Rs 698.45.
Go Digit to be a great compounding story for next 10-15 years : Sumeet Nagar
We also try to engage with the companies and try to help them along the way in terms of building up their governance standards, the board structure, in terms of transparency to the market, communication to the market and this is a long-term journey.
Ola Electric shares rise over 4% after PLI approval for two more vehicle models
Ola Electric Mobility’s shares increased 4.4% after the company received PLI certification for two more of its electric scooters. This approval came after the expiry of the FAME II subsidy, replaced by the Electric Mobility Promotion Scheme.
Hot stocks: Brokerage view on Cyient, Varun Beverages and Avenue Supermarts
JP Morgan maintained an overweight rating on Cyient, targeting Rs 2,100. BofA continued to favor Varun Beverages with a target of Rs 1,840, citing strong fundamentals. UBS retained a buy rating on Avenue Supermarts, setting a target price of Rs 6,000 due to strong demand and sales growth.
Is the party over for defense, shipping stocks? Daljeet Kohli answers
So, in any case we are not invested in any of these stocks and in fact we do not advocate also getting into these stocks even after 20% correction because we believe that they are valued much ahead of the time. They are all good companies, they will keep performing but you have already paid […]