Shares of Maruti Suzuki India (MSIL) jumped 4% on Wednesday to hit a fresh 52-week high of Rs 12,722.70 on the NSE. The company also entered the coveted club of stocks with a market capitalisation of Rs 4 lakh crore. Currently, there are 13 other stocks with a market capitalisation of Rs 4 lakh crore … Read more
The week that went by saw bulls having an early Christmas party on Dalal Street, as benchmarks Nifty50 and Sensex clocked their best weekly gains since mid-November. The Sensex rallied more than 1,600 points or 2.4% last week and ended at a record closing high of 71483.75 points on Friday. While the gains were broad-based … Read more
HCL Technologies, part of the Indian IT sector, managed to climb all walls of worries to give a breakout from a rounding bottom formation on the daily charts and hit a fresh record high which has opened room for the stock to head into uncharted territory. Short-term investors can look to buy the stock now … Read more
Brokerage firm Investec initiated coverage with a buy rating on Poly Medicure; JPMorgan has a neutral rating on Tata Motors, UBS downgrades Apollo Tyres to neutral and Goldman Sachs initiated a buy on Infosys, LTIMindtree and TCS. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Investec on … Read more
Indian market is likely to consolidate on Tuesday tracking muted global cues. The S&P BSE Sensex rose more than 200 points while the Nifty50 closed just a shade below 19,600 levels in the previous trading session. India VIX was up by 5.04% from 10.57 to 11.10 levels in the previous session. Volatility moved from lows … Read more
The market is likely to keep traders on their toes this week with Nifty expected to swing in 19,300-19,700 range. Breakouts from this zone can take the index to 20,000-20,200 on the upside or 19,000-18,800 on the downside, according to technical analysts. ACC, Sun Pharma, TCS, Tech Mahindra, HCL Technologies, Atul, Jubilant Food, IDBI Bank … Read more
Dalal Street investors weren’t expecting any fireworks in IT companies’ first quarter earnings, but the disappointments were worse than anticipated, as growth hit multi-quarter lows. Frontline IT companies have seen their constant currency revenue growth slow down in the last six quarters, and a majority of them reported just single-digit growth in the June quarter. … Read more
Following a 27% weekly rally in shares of Sterling & Wilson Renewable Energy last week, Kunal Shah of LKP Securities suggests buying the stock on dips. “The stock has strong support in the Rs 345-340 zone, indicating a potential buying opportunity if the stock retraces to this level. Considering the breakout and support levels, there … Read more
Infosys led Friday’s bloodbath on Dalal Street as the equity market fell like a pack of cards, breaking a four-session record-breaking spree. Infosys shares plunged nearly 10% to the day’s lows of 1,305 following its June quarter earnings on Thursday where it significantly cut its FY24 revenue growth guidance. The last major fall for Infosys … Read more
India’s bluechip Nifty 50 index fell for the first time in nine sessions on Friday, succumbing to the persistent concerns of US rate hikes that have weighed on global equities. The Nifty 50 settled 0.85% lower at 19,331.80, while the 30-member S&P BSE Sensex fell 0.77% to 65,280.45. Both indexes hit record highs for the … Read more