Breakout Stocks: How to trade Biocon, RBL Bank & HDFC AMC that hit fresh 52-week high?
Indian market closed with a positive bias, as BSE Sensex and Nifty50 saw gains, led by auto, FMCG, realty, and IT sectors. Biocon, RBL Bank, and HDFC AMC hit fresh 52-week highs. Analysts suggest monitoring Biocon for a breakout above 425, RBL Bank for profit-booking, and HDFC AMC’s bullish trend with resistance at 5,453.
Reliance Infra board approves Rs 6,000 crore fundraising plan via QIP
Reliance Infrastructure and Reliance Power boards approved plans to raise Rs 6,000 crore each via QIP or other modes. Both firms also cleared NCD issues worth Rs 3,000 crore.
Angel One Q1 Results: Profit dips to at Rs 114 crore on derivative trading curbs
Indian brokerage Angel One on Wednesday posted a 61% fall in first-quarter profit, as tighter rules for equity derivatives trading in India weighed on retail activity, a key driver for the brokerage’s earnings.
Reliance Power board approves Rs 6,000 crore fundraising plan via QIP
The board of Reliance Power on Wednesday approved a Rs 6,000 crore worth fundraising plan via the Qualified Institutions Placement (QIP) and other modes.
India’s Embassy REIT to tap debt market with Rs 2,000 crore bond sale, sources say
India’s Embassy Office Parks REIT is in talks with bankers to raise 20 billion rupees ($232.79 million) via the issuance of five-year corporate bonds, three sources aware of the matter said on Wednesdarces say
4 mutual funds had over Rs 20,000 crore cash in their portfolios in June
Mutual funds cut cash holdings by Rs 13,000 crore in June to Rs 2.04 lakh crore, with PPFAS and Unifi maintaining highest cash-to-AUM ratios for strategic flexibility and redemptions.
SBI, UCO Bank and other PSU lenders rally up to 3% on report of govt weighing fresh reform push
PSU bank stocks rallied after reports suggested the government may ease foreign investment limits and explore further consolidation. Potential reforms include corporate entry into banking under strict safeguards. The government aims to build stronger banks to support economic growth, following the 2019 merger of 10 PSU banks into four.
ITC Hotels Q1 Results: Cons PAT jumps 54% YoY to Rs 133 crore; revenue advances 15%
ITC Hotels Q1 Results: Revenue from operations for the quarter stood at Rs 816 crore, up 15.5% from Rs 706 crore in the corresponding quarter of the previous financial year.
Vishal Mega Mart shares may rally 20%, says Motilal Oswal. What’s driving the bullish call?
Vishal Mega Mart shares: The brokerage views the value retailer as a way to capitalize on the rising aspirations of consumers in Tier 2 and smaller cities, supported by its low-cost private-label offerings, efficient cost structure, and expanding presence in underpenetrated markets.
PSU banks offer a better investment opportunity; wait a bit in realty: Neeraj Dewan
Market expert Neeraj Dewan notes real estate improvements due to interest rates and RBI measures, though North India sees price consolidation impacting demand. He favors stocks like Max Estates and DLF. Dewan suggests PSU banks offer better investment opportunities than private banks due to their valuations, anticipating positive surprises in the banking and NBFC sectors.