Budget 2024: Rail stocks trade higher ahead of Budget
Stocks of companies related to railways were trading in the positive territory on Thursday morning ahead of the presentation of the Interim Budget. Shares of IRCON International rallied 3.26 per cent, Texmaco Rail & Engineering jumped 2.71 per cent, Indian Railway Finance Corporation climbed 2.58 per cent and Rail Vikas Nigam advanced 1.52 per cent […]
Nova Agritech makes a stellar debut
Shares of Nova Agritech made a stellar debut at the bourses on Wednesday by gaining over 43 per cent. The stock opened at ₹56 on the BSE against the IPO price of ₹41, slipped to a low of ₹55 before closing at day’s high of ₹58.79, a gain of 43.39 per cent over the IPO […]
Bajaj Finance shares slump over 5% on rising stress in B2C loan portfolios.
Shares of Bajaj Finance slumped over 5 per cent on Tuesday after the NBFC highlighted rising stress in its rural and urban B2C loans portfolios in its Q3 earnings. On January 30, the stock fell 5.4 per cent to Rs 6,805 on the NSE. However, it later pared some less to close 5.1 per cent […]
VeerHealth Care bags FDA labeller code for US launch expansion; shares up
VeerHealth Care Limited’s shares were up by 4.12 per cent after the company was allocated labeller code by USFDA under the brand Ayuveer. This allows VeerHealth Care to launch a range of body-care and skincare products in the US market. The company manufactures and exports oral care products to East African countries. It has also secured […]
Grasim rights issue of ₹4,000 cr fully subscribed
Grasim Industries, an Aditya Birla Group company, has reported that its rights issue to raise ₹4,000 crore was fully subscribed on Monday. The company has repaid ₹600 crore to investors of its commercial paper which matured on Monday. The rights issue opened for subscription on January 17 and closed on January 29, said Grasim Industries. […]
Positive global cues likely to lift Indian markets, Interim Budget and Q3 earnings in focus
After a long weekend break, the domestic market is likely to open on a positive note on Monday, thanks to positive global cues. The upcoming interim Budget on February 1 and the ongoing result season will likely anchor market movement this week. Nifty futures at 21,548 at Gift Nifty against Nifty February futures close of […]
India-dedicated funds see $16.2 billion inflows in CY23
India-dedicated funds saw inflows of $3.1 billion in December, taking the total category inflows in CY23 to $16.2 billion, the latest EPFR data compiled by Kotak Institutional Equities showed. The assets of these funds, which had seen outflows of $2.2 billion in CY22, rose 67.5 per cent during the year to $67 billion. December’s flows […]
FPIs dump $1.5 billion in 3 sessions after rise in US bond yields, weak Q3 earnings
Foreign Portfolio Investors (FPIs), who started the year with strong buying interest in Indian equities, continued to be net sellers in the Indian equity cash market this week, offloading equities to the tune of ₹12,200 crore (about $1.5 billion) over the last three trading sessions (truncated week). Also read: Index Outlook: Sensex, Nifty 50: More […]
F&O Strategy: Buy Infosys Call
The short-term outlook turned positive for the stock of Infosys (₹1,669.1). The IT major finds immediate support at ₹1,560 and ₹1,427. The nearest resistance is at ₹1,720. A close above that level will trigger a fresh rally. In that event, the stock can reach ₹1,815. We expect the stock to move with a positive bias. […]
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Technical Analysis: Petronet LNG and ONGC
What is the outlook for Petronet LNG for the next two-three months? I am holding the stock and my average purchase price is ₹228. Can I exit at current levels? Ashish Petronet LNG (₹256.60): The outlook is bullish. Petronet LNG share price has been rising since December last year. This uptrend is intact. Moving Average […]