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Stocks that will see action on March 1, 2023
Automobile stocks: Shares of automobile majors such as Tata Motors, M&M, Ashok Leyland, Escorts, Bajaj Auto, Eicher Motors, TVS Motors, Hero MotoCorp and others will remain in focus, as they will declare the monthly sales figures of February today. According to LKP Securities channel check, two wheeler sales except for the EVs to show weakness. […]
Broker’s Call: Bikaji Foods Intl (Buy)
Target: ₹440 CMP: ₹356.80 Bikaji, buoyed by its strong lineage, has become the 3rd largest player in India’s fast-growing organised ethnic snacks segment (pegged at INR 181bn, expected to grow at 15.6% over FY22-26) with a market share of 9 per cent. In the packaged snacks industry, brand equity, a wide portfolio, and supply chain […]
LIC hits record low as Adani exposure bruises sentiment
There is no respite for Life Insurance Corporation of India from sellers, as the stock continued its slide for the seventh day in a row to record an all-time low of ₹566 on the BSE on Monday. The insurance major’s stock closed at ₹567.75, down 2.9 per cent on the BSE, as its exposure to […]
Crude oil declines as market awaits Chinese PMI data
Crude oil futures traded lower on Monday morning as the market awaited for important economic data from China to assess the demand for the commodity in the global market. At 9.56 am on Monday, April Brent oil futures were down by 0.39 per cent at $82.50 and April crude oil futures on WTI were down […]
‘Commodities are unique among asset class, provide hedge against inflation’
Commodities are effective diversifiers and unique compared with other asset classes as they provide a hedge against inflation, says Credit Suisse Research Institute’s Global Investments Year Book 2023. “Historically, commodities have had a low correlation with equities and a negative correlation with bonds, making them effective diversifiers… However, their inflation-hedging properties also mean that, in […]
Adani crisis fails to impact SMEs’ zing to tap capital markets; mainboard IPOs draw blank
Blame it on short-seller Hindenburg Research report or its fall-out, initial public offerings (IPOs) on the mainboard have drawn a blank so far this year even while 19 SME companies have braved the turbulence to raise ₹225 crore. Many IPOs on the main board have either been put-off or withdrawn due to the relentless selling […]
Sunil Mittal seeking a stake in Paytm
Sunil Mittal is seeking a stake in Paytm by merging his financial services unit into the fintech giant’s payments bank, according to people with knowledge of the matter. Mittal seeks to fold Airtel Payments Bank into Paytm Payments Bank in a stocks deal and is also seeking to buy Paytm shares from other holders, the […]
Platinum retail sales up 22% in Q4 of 2022 on weddings, festivals
Indian retail sales of platinum increased 22 per cent in the fourth quarter of 2022 powered by the wedding and festive seasons. Consumer demand drove sales despite uncertainties over the global economy, said a Platinum Guild of International (PGI) statement. Platinum continued to enjoy demand from PGI’s strategic partners too, sustaining the sales growth momentum […]
Today’s Pick: Bharat Dynamics (₹969.10): BUY
The outlook for the stock of Bharat Dynamics is bullish. The stock has moved up sharply so far this week as against the steep fall seen in the benchmark indices. The 5 per cent rise on Thursday has strengthened the upmove. The immediate support is at ₹950. Below that, ₹928 is the next strong support […]